Document and Entity Information - USD ($) $ in Billions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Feb. 13, 2026 |
Jun. 30, 2025 |
|
| Cover [Abstract] | |||
| Document Type | 10-K | ||
| Document Annual Report | true | ||
| Document Transition Report | false | ||
| Document Period End Date | Dec. 31, 2025 | ||
| Securities Act File Number | 001-32903 | ||
| Entity Registrant Name | THE WESTERN UNION COMPANY | ||
| Entity Incorporation, State or Country Code | DE | ||
| Entity Tax Identification Number | 20-4531180 | ||
| Entity Address, Address Line One | 7001 East Belleview Avenue | ||
| Entity Address, City or Town | Denver | ||
| Entity Address, State or Province | CO | ||
| Entity Address, Postal Zip Code | 80237 | ||
| City Area Code | 866 | ||
| Local Phone Number | 405-5012 | ||
| Title of 12(b) Security | Common Stock, $0.01 Par Value | ||
| Trading Symbol | WU | ||
| Security Exchange Name | NYSE | ||
| Entity Well-known Seasoned Issuer | Yes | ||
| Entity Voluntary Filers | No | ||
| Entity Current Reporting Status | Yes | ||
| Entity Interactive Data Current | Yes | ||
| Entity Filer Category | Large Accelerated Filer | ||
| Entity Small Business | false | ||
| Entity Emerging Growth Company | false | ||
| ICFR Auditor Attestation Flag | true | ||
| Document Financial Statement Error Correction [Flag] | false | ||
| Entity Shell Company | false | ||
| Entity Public Float | $ 2.7 | ||
| Entity Common Stock, Shares Outstanding | 313,454,809 | ||
| Current Fiscal Year End Date | --12-31 | ||
| Document Fiscal Year Focus | 2025 | ||
| Document Fiscal Period Focus | FY | ||
| Entity Central Index Key | 0001365135 | ||
| Amendment Flag | false | ||
| Documents Incorporated by Reference | Portions of the Registrant’s proxy statement for the 2026 annual meeting of stockholders are incorporated into Part III of this Annual Report on Form 10‑K | ||
| Auditor Firm ID | 42 | ||
| Auditor Name | Ernst & Young LLP | ||
| Auditor Location | Denver, Colorado | ||
| Auditor Opinion | Opinion on the Financial StatementsWe have audited the accompanying consolidated balance sheets of The Western Union Company (the Company) as of December 31, 2025 and 2024, the related consolidated statements of income, comprehensive income, cash flows and stockholders’ equity for each of the three years in the period ended December 31, 2025, and the related notes and financial statement schedule listed in the Index at Item 15(a) (collectively referred to as the “consolidated financial statements”). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company at December 31, 2025 and 2024, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2025, in conformity with U.S. generally accepted accounting principles. We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company’s internal control over financial reporting as of December 31, 2025, based on criteria established in Internal Control—Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework), and our report dated February 20, 2026 expressed an unqualified opinion thereon. |
CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions |
12 Months Ended | ||||
|---|---|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|||
| Income Statement [Abstract] | |||||
| Revenues | $ 4,050.7 | $ 4,209.7 | $ 4,357.0 | ||
| Type of Revenue | us-gaap:ServiceMember | us-gaap:ServiceMember | us-gaap:ServiceMember | ||
| Expenses: | |||||
| Cost of services | $ 2,550.6 | $ 2,620.5 | $ 2,671.7 | ||
| Type of Cost of Service | us-gaap:ServiceMember | us-gaap:ServiceMember | us-gaap:ServiceMember | ||
| Selling, general, and administrative | $ 742.8 | $ 863.4 | $ 867.8 | ||
| Total expenses | [1] | 3,293.4 | 3,483.9 | 3,539.5 | |
| Operating income | 757.3 | 725.8 | 817.5 | ||
| Other income/(expense): | |||||
| Gain on divestiture of business (Note 4) | 18.0 | ||||
| Interest income | 7.9 | 11.9 | 15.6 | ||
| Interest expense | (143.0) | (119.8) | (105.3) | ||
| Other income, net | 3.5 | 0.7 | |||
| Total other expense, net | (131.6) | (107.2) | (71.7) | ||
| Income before income taxes | 625.7 | 618.6 | 745.8 | ||
| Provision for/(benefit from) income taxes | 126.1 | (315.6) | 119.8 | ||
| Net income | $ 499.6 | $ 934.2 | $ 626.0 | ||
| Earnings per share: | |||||
| Basic (USD per share) | $ 1.53 | $ 2.75 | $ 1.69 | ||
| Diluted (USD per share) | $ 1.52 | $ 2.74 | $ 1.68 | ||
| Weighted-average shares outstanding: | |||||
| Basic (shares) | 326.6 | 340.0 | 370.8 | ||
| Diluted (shares) | 327.6 | 341.1 | 371.8 | ||
| |||||
CONSOLIDATED STATEMENTS OF INCOME (Parenthetical) - Equity Method Investee - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Related party expenses | $ 40.9 | $ 45.5 | $ 45.4 |
| Operating Cost and Expense, Related Party [Extensible Enumeration] | Related Party [Member] | Related Party [Member] | Related Party [Member] |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Statement of Comprehensive Income [Abstract] | |||
| Net income | $ 499.6 | $ 934.2 | $ 626.0 |
| Other comprehensive income, net of reclassifications and tax (Note 12): | |||
| Unrealized gains/(losses) on investment securities | 34.4 | (0.4) | 36.4 |
| Unrealized gains/(losses) on hedging activities | (51.0) | 28.4 | (35.8) |
| Foreign currency translation adjustments | 5.8 | (1.2) | |
| Total other comprehensive income/(loss) | (10.8) | 26.8 | 0.6 |
| Comprehensive income | $ 488.8 | $ 961.0 | $ 626.6 |
CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) shares in Millions, $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Assets | ||
| Accumulated Depreciation on Property Plant and Equipment | $ 473.5 | $ 454.9 |
| Accumulated Amortization on Other Intangible Assets | $ 584.5 | $ 599.0 |
| Stockholders' Equity: | ||
| Preferred stock, par value (USD per share) | $ 1.00 | $ 1.00 |
| Preferred stock, shares authorized | 10.0 | 10.0 |
| Preferred stock, shares issued | 0.0 | 0.0 |
| Common stock, par value (USD per share) | $ 0.01 | $ 0.01 |
| Common stock, shares authorized | 2,000.0 | 2,000.0 |
| Common stock, shares issued | 315.7 | 337.9 |
| Common stock, shares outstanding | 315.7 | 337.9 |
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Cash flows from operating activities | |||
| Net income | $ 499.6 | $ 934.2 | $ 626.0 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation | 35.2 | 37.4 | 39.1 |
| Amortization | 130.2 | 141.7 | 144.5 |
| Gain on divestiture of business, excluding transaction costs (Note 4) | (18.0) | ||
| Deferred income tax provision/(benefit) (Note 10) | 34.9 | (248.8) | (11.0) |
| Other non-cash items, net | 124.8 | 123.5 | 113.9 |
| Increase/(decrease) in cash, excluding the effects of acquisitions and divestitures, resulting from changes in: | |||
| Other assets | (45.0) | (125.7) | (36.3) |
| Accounts payable and accrued liabilities | (39.4) | (46.4) | (22.4) |
| Income taxes payable (Note 10) | (197.3) | (394.6) | (68.1) |
| Other liabilities | 0.7 | (15.0) | 15.4 |
| Net cash provided by operating activities | 543.7 | 406.3 | 783.1 |
| Cash flows from investing activities | |||
| Payments for capitalized contract costs | (27.3) | (11.8) | (36.4) |
| Payments for internal use software | (85.0) | (81.4) | (88.5) |
| Purchases of property and equipment | (38.5) | (37.4) | (22.9) |
| Other investing activities | (9.2) | (15.2) | (3.7) |
| Net cash provided by/(used in) investing activities | (230.3) | (16.3) | (140.8) |
| Cash flows from financing activities | |||
| Cash dividends and dividend equivalents paid (Note 12) | (309.0) | (321.5) | (349.0) |
| Common stock repurchased (Note 12) | (234.6) | (186.2) | (308.4) |
| Net proceeds from/(repayments of) commercial paper | 392.0 | (364.9) | 184.9 |
| Net proceeds from credit facility borrowings | 29.1 | ||
| Net proceeds from issuance of borrowings | 798.1 | ||
| Principal payments on borrowings | (500.0) | (300.0) | |
| Proceeds from exercise of options | 0.2 | ||
| Net change in settlement obligations | (159.3) | 6.1 | (122.8) |
| Other financing activities | (0.8) | (0.9) | (1.7) |
| Net cash used in financing activities | (782.6) | (69.3) | (896.8) |
| Net change in cash and cash equivalents, including settlement, and restricted cash | (469.2) | 320.7 | (254.5) |
| Cash and cash equivalents, including settlement, and restricted cash at beginning of period | 2,106.9 | 1,786.2 | 2,040.7 |
| Cash and cash equivalents, including settlement, and restricted cash at end of period | 1,637.7 | 2,106.9 | 1,786.2 |
| Reconciliation of balance sheet cash and cash equivalents to cash flows: | |||
| Cash and cash equivalents on balance sheet | 1,234.4 | 1,474.0 | 1,268.6 |
| Settlement cash and cash equivalents (Note 7) | 402.0 | 631.6 | 496.0 |
| Restricted cash in Other assets | 1.3 | 1.3 | 21.6 |
| Cash and cash equivalents, including settlement, and restricted cash | 1,637.7 | 2,106.9 | 1,786.2 |
| Supplemental cash flow information: | |||
| Interest paid | 147.5 | 114.0 | 102.4 |
| Income taxes paid | 295.7 | 324.9 | 197.4 |
| Cash paid for lease liabilities | 67.7 | 54.9 | 40.1 |
| Non-cash lease liabilities arising from obtaining right-of-use assets (Note 11) | 34.0 | 60.6 | 39.1 |
| Settlement Investments | |||
| Cash flows from investing activities | |||
| Purchases of settlement investments | (256.3) | (396.7) | (495.3) |
| Proceeds from the sale of settlement investments | 89.2 | 356.0 | 262.0 |
| Maturities of settlement investments | $ 96.8 | $ 170.2 | 144.0 |
| Non Settlement Investment | |||
| Cash flows from investing activities | |||
| Proceeds from the sale of settlement investments | $ 100.0 | ||
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Millions, $ in Millions |
Total |
Common Stock |
Capital Surplus |
Retained Earnings/(Accumulated Deficit) |
Accumulated Other Comprehensive Loss |
|---|---|---|---|---|---|
| Beginning balance at Dec. 31, 2022 | $ 477.8 | $ 3.7 | $ 995.9 | $ (353.9) | $ (167.9) |
| Beginning balance (shares) at Dec. 31, 2022 | 373.5 | ||||
| Increase/(Decrease) in Stockholders' Equity [Roll Forward] | |||||
| Net income | 626.0 | 626.0 | |||
| Stock-based compensation | 35.9 | 35.9 | |||
| Common stock dividends and dividend equivalents declared | (350.3) | (350.3) | |||
| Repurchase and retirement of common shares | (311.2) | $ (0.3) | (310.9) | ||
| Repurchase and retirement of common shares (shares) | (24.9) | ||||
| Shares issued under stock-based compensation plans | 0.2 | $ 0.1 | 0.1 | ||
| Shares issued under stock-based compensation plans (shares) | 1.9 | ||||
| Other comprehensive income/(loss) (Note 12) | 0.6 | 0.6 | |||
| Ending balance at Dec. 31, 2023 | 479.0 | $ 3.5 | 1,031.9 | (389.1) | (167.3) |
| Ending balance (shares) at Dec. 31, 2023 | 350.5 | ||||
| Increase/(Decrease) in Stockholders' Equity [Roll Forward] | |||||
| Net income | 934.2 | 934.2 | |||
| Stock-based compensation | 38.9 | 38.9 | |||
| Common stock dividends and dividend equivalents declared | (324.0) | (324.0) | |||
| Repurchase and retirement of common shares | (186.0) | $ (0.1) | (185.9) | ||
| Repurchase and retirement of common shares (shares) | (14.5) | ||||
| Shares issued under stock-based compensation plans (shares) | 1.9 | ||||
| Other comprehensive income/(loss) (Note 12) | 26.8 | 26.8 | |||
| Ending balance at Dec. 31, 2024 | $ 968.9 | $ 3.4 | 1,070.8 | 35.2 | (140.5) |
| Ending balance (shares) at Dec. 31, 2024 | 337.9 | 337.9 | |||
| Increase/(Decrease) in Stockholders' Equity [Roll Forward] | |||||
| Net income | $ 499.6 | 499.6 | |||
| Stock-based compensation | 46.6 | 46.6 | |||
| Common stock dividends and dividend equivalents declared | (311.5) | (311.5) | |||
| Repurchase and retirement of common shares | (235.0) | $ (0.2) | (234.8) | ||
| Repurchase and retirement of common shares (shares) | (24.4) | ||||
| Shares issued under stock-based compensation plans (shares) | 2.2 | ||||
| Other comprehensive income/(loss) (Note 12) | (10.8) | (10.8) | |||
| Ending balance at Dec. 31, 2025 | $ 957.8 | $ 3.2 | $ 1,117.4 | $ (11.5) | $ (151.3) |
| Ending balance (shares) at Dec. 31, 2025 | 315.7 | 315.7 |
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parentheticals) - $ / shares |
3 Months Ended | 12 Months Ended | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2025 |
Sep. 30, 2025 |
Jun. 30, 2025 |
Mar. 31, 2025 |
Dec. 31, 2024 |
Sep. 30, 2024 |
Jun. 30, 2024 |
Mar. 31, 2024 |
Dec. 31, 2023 |
Sep. 30, 2023 |
Jun. 30, 2023 |
Mar. 31, 2023 |
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Statement of Stockholders' Equity [Abstract] | |||||||||||||||
| Common stock dividends (USD per share) | $ 0.235 | $ 0.235 | $ 0.235 | $ 0.235 | $ 0.235 | $ 0.235 | $ 0.235 | $ 0.235 | $ 0.235 | $ 0.235 | $ 0.235 | $ 0.235 | $ 0.94 | $ 0.94 | $ 0.94 |
Cybersecurity Risk Management, Strategy, and Governance |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Cybersecurity Risk Management, Strategy, and Governance [Abstract] | |
| Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block] | Item 1C. CybersecurityTo help address cybersecurity threats, Western Union has developed a strategy and implemented a program to identify, assess, and prioritize cybersecurity risks based on their potential impact to our customers, operations, regulatory obligations, and financial condition, as part of our broader enterprise risk management processes. We recognize that cybersecurity threats are constantly evolving and that there is no single solution that can guarantee complete protection. Our cybersecurity strategy is designed to protect the confidentiality of our data from unauthorized access, the integrity of information throughout its lifecycle, and the availability of that information and the related systems, while supporting the reliable operation and ongoing evolution of our business and technology platforms. Our strategy is guided by the National Institute of Standards and Technology Cybersecurity Framework, which helps us identify, assess, and manage cybersecurity risks relevant to our business. Within our cybersecurity program, we have identified and implemented a variety of processes for cybersecurity risk management. These processes are designed to enable timely identification, prioritization, and response to cybersecurity risks and to support informed decision-making regarding risk mitigation and acceptance. • We conduct regular risk assessments to identify and evaluate potential cybersecurity threats, including threats to our business operations, technology infrastructure, and data. • We monitor threat intelligence feeds to stay updated on the latest cybersecurity threats and vulnerabilities. • We scan our systems for vulnerabilities on an ongoing basis, with vulnerabilities prioritized and remediated based on their potential impact to business operations and data protection. • We have implemented a variety of access controls to restrict access to our systems and data, including user authentication, authorization, and encryption. • We conduct regular security awareness training for our employees to help them identify and avoid cybersecurity threats. • We periodically conduct test exercises, including tabletop exercises, across various levels of the Company each year to review our cybersecurity controls and incident response procedures and capabilities, to enhance our operational resilience by seeking to ensure business continuity during potential extended digital outages, and to identify improvement opportunities and increase employee awareness and preparedness. • Our third-party risk assessment program identifies, assesses, and monitors vendors for cybersecurity risk. These include information technology and cybersecurity vendors who are part of our digital supply chain, with particular focus on vendors that support critical business processes or have access to sensitive data.
Our cybersecurity governance framework is designed to manage cybersecurity risks at all levels of the organization. As part of this governance framework, our Board of Directors regularly devotes time during its meetings, including at least annually, to review and discuss the most significant risks facing the Company, including cybersecurity threats, and management’s approach for identifying, prioritizing, and responding to those risks. Our Audit Committee, which is comprised solely of independent directors, assists the Board of Directors in overseeing the significant risk exposures facing the Company and regularly reviews, including at least annually, cybersecurity risks at its committee meetings. Cybersecurity risks are integrated into the broader company risk management system through our Information Security and Privacy Committee (“ISPC”), which is a subcommittee of our Enterprise Risk Committee (the “ERC”), is co-chaired by the Chief Information Security Officer and Chief Privacy Officer and consists of senior leaders across the company. The ISPC is charged with oversight, advisory, and decision-making responsibilities with respect to information security and privacy risks. The Chief Information Security Officer is responsible for communicating cybersecurity risks, significant incidents, and key risk trends to the Audit Committee and Board of Directors. Our cybersecurity program, led by our Chief Information Security Officer, who reports to our Chief Risk and Compliance Officer, has a team of dedicated, experienced cybersecurity professionals responsible for day-to-day security operations and strategic cybersecurity programs. As of December 31, 2025, our Chief Information Security Officer and senior management team had over 30 years of combined experience in security risk management. All employees are responsible for protecting Western Union’s data and systems and are required to follow Western Union’s cybersecurity policies. We maintain relationships with law enforcement, government agencies, forensic investigators, and legal counsel to inform our cybersecurity and data privacy programs. We and our third-party vendors have been, and continue to be, the subject of cybersecurity attacks and threats, including distributed denial of service and ransomware attacks. As of December 31, 2025, none of these attacks or breaches has individually or in the aggregate resulted in any material liability to us or any material damage to our reputation, and disruptions related to cybersecurity have not caused any material interruption to our business, strategy, results of operations, or financial condition. However, cybersecurity threats continue to evolve in sophistication and frequency, and there can be no assurance that future attacks or disruptions will not have a material adverse impact on us. For a discussion of these risks, see “Item 1A—Risk Factors—Risks Relating to Cybersecurity, Third-Party Vendors, and Artificial Intelligence.” |
| Cybersecurity Risk Management Processes Integrated [Flag] | true |
| Cybersecurity Risk Management Processes Integrated [Text Block] | To help address cybersecurity threats, Western Union has developed a strategy and implemented a program to identify, assess, and prioritize cybersecurity risks based on their potential impact to our customers, operations, regulatory obligations, and financial condition, as part of our broader enterprise risk management processes. We recognize that cybersecurity threats are constantly evolving and that there is no single solution that can guarantee complete protection. Our cybersecurity strategy is designed to protect the confidentiality of our data from unauthorized access, the integrity of information throughout its lifecycle, and the availability of that information and the related systems, while supporting the reliable operation and ongoing evolution of our business and technology platforms. Our strategy is guided by the National Institute of Standards and Technology Cybersecurity Framework, which helps us identify, assess, and manage cybersecurity risks relevant to our business. |
| Cybersecurity Risk Management Third Party Engaged [Flag] | true |
| Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] | true |
| Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] | false |
| Cybersecurity Risk Board of Directors Oversight [Text Block] | Our cybersecurity governance framework is designed to manage cybersecurity risks at all levels of the organization. As part of this governance framework, our Board of Directors regularly devotes time during its meetings, including at least annually, to review and discuss the most significant risks facing the Company, including cybersecurity threats, and management’s approach for identifying, prioritizing, and responding to those risks. Our Audit Committee, which is comprised solely of independent directors, assists the Board of Directors in overseeing the significant risk exposures facing the Company and regularly reviews, including at least annually, cybersecurity risks at its committee meetings. Cybersecurity risks are integrated into the broader company risk management system through our Information Security and Privacy Committee (“ISPC”), which is a subcommittee of our Enterprise Risk Committee (the “ERC”), is co-chaired by the Chief Information Security Officer and Chief Privacy Officer and consists of senior leaders across the company. The ISPC is charged with oversight, advisory, and decision-making responsibilities with respect to information security and privacy risks. The Chief Information Security Officer is responsible for communicating cybersecurity risks, significant incidents, and key risk trends to the Audit Committee and Board of Directors. Our cybersecurity program, led by our Chief Information Security Officer, who reports to our Chief Risk and Compliance Officer, has a team of dedicated, experienced cybersecurity professionals responsible for day-to-day security operations and strategic cybersecurity programs. As of December 31, 2025, our Chief Information Security Officer and senior management team had over 30 years of combined experience in security risk management. All employees are responsible for protecting Western Union’s data and systems and are required to follow Western Union’s cybersecurity policies. We maintain relationships with law enforcement, government agencies, forensic investigators, and legal counsel to inform our cybersecurity and data privacy programs. |
| Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] | The ISPC is charged with oversight, advisory, and decision-making responsibilities with respect to information security and privacy risks. |
| Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] | As part of this governance framework, our Board of Directors regularly devotes time during its meetings, including at least annually, to review and discuss the most significant risks facing the Company, including cybersecurity threats, and management’s approach for identifying, prioritizing, and responding to those risks. |
| Cybersecurity Risk Role of Management [Text Block] | Audit Committee, which is comprised solely of independent directors, assists the Board of Directors in overseeing the significant risk exposures facing the Company and regularly reviews, including at least annually, cybersecurity risks at its committee meetings. Cybersecurity risks are integrated into the broader company risk management system through our Information Security and Privacy Committee (“ISPC”), which is a subcommittee of our Enterprise Risk Committee (the “ERC”), is co-chaired by the Chief Information Security Officer and Chief Privacy Officer and consists of senior leaders across the company. The ISPC is charged with oversight, advisory, and decision-making responsibilities with respect to information security and privacy risks. |
| Cybersecurity Risk Management Positions or Committees Responsible [Flag] | true |
| Cybersecurity Risk Management Positions or Committees Responsible [Text Block] | The Chief Information Security Officer is responsible for communicating cybersecurity risks, significant incidents, and key risk trends to the Audit Committee and Board of Directors. |
| Cybersecurity Risk Management Expertise of Management Responsible [Text Block] | As of December 31, 2025, our Chief Information Security Officer and senior management team had over 30 years of combined experience in security risk management. |
| Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] | Our cybersecurity program, led by our Chief Information Security Officer, who reports to our Chief Risk and Compliance Officer, has a team of dedicated, experienced cybersecurity professionals responsible for day-to-day security operations and strategic cybersecurity programs. |
| Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] | true |
Pay vs Performance Disclosure - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Pay vs Performance Disclosure | |||
| Net Income (Loss) | $ 499.6 | $ 934.2 | $ 626.0 |
Insider Trading Arrangements |
3 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Trading Arrangements, by Individual | |
| Rule 10b5-1 Arrangement Adopted | false |
| Non-Rule 10b5-1 Arrangement Adopted | false |
| Rule 10b5-1 Arrangement Terminated | false |
| Non-Rule 10b5-1 Arrangement Terminated | false |
| Rule 10b5-1 Arr Modified Flag | false |
| Non Rule 10b5-1 Arr Modified Flag | false |
Insider Trading Policies and Procedures |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Insider Trading Policies and Procedures [Line Items] | |
| Insider Trading Policies and Procedures Adopted | true |
Business and Basis of Presentation |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| Business and Basis of Presentation | 1. Business and Basis of Presentation Business The Western Union Company (“Western Union” or the “Company”) is a leader in cross-border, cross-currency money movement, payments, and digital financial services, empowering consumers, businesses, financial institutions, and governments with fast, reliable, and convenient ways to send money and make payments around the world. The Western Union brand is globally recognized. The Company’s services are available through a network of agent locations in more than 200 countries and territories and also through the Company’s or its third-party digital partners’ websites and mobile applications marketed under the Company’s brands (“Branded Digital”). Each location in the Company’s agent network is capable of providing one or more of the Company’s services. The Western Union business consists of the following segments: • Consumer Money Transfer - The Consumer Money Transfer segment facilitates money transfers, which are primarily sent from retail agent and Company-operated locations worldwide or through websites and mobile devices. The Company’s money transfer service is provided through one interconnected global network. This service is available for international cross-border transfers and, in certain countries, intra-country transfers. • Consumer Services - The Consumer Services segment includes the Company’s bill payment services, money order services, travel money services, check acceptance services, media network, prepaid cards, lending partnerships, and digital wallets.
See Note 16 for further information regarding the Company’s segments. On August 4, 2021, the Company entered into an agreement to sell its Business Solutions business, and the final closing for this transaction occurred on July 1, 2023. See Note 4 for further information regarding this transaction. There are legal or regulatory limitations on transferring certain assets of the Company outside of the countries where these assets are located. However, there are generally no limitations on the use of these assets within those countries. Additionally, the Company must meet minimum capital requirements in some countries in order to maintain operating licenses. As of December 31, 2025, the Company’s restricted net assets associated with these asset limitations and minimum capital requirements totaled approximately $320 million. Various aspects of the Company’s services and businesses are subject to United States federal, state, and local regulation, as well as regulation by foreign jurisdictions, including certain banking and other financial services regulations. Basis of Presentation The financial statements in this Annual Report on Form 10‑K are presented on a consolidated basis and include the accounts of the Company and its majority-owned subsidiaries. All significant intercompany transactions and accounts have been eliminated. Consistent with industry practice, the accompanying Consolidated Balance Sheets are unclassified due to the short-term nature of the Company’s settlement obligations contrasted with the Company’s ability to invest cash awaiting to pay settlement obligations in long-term investment securities. |
Summary of Significant Accounting Policies |
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| Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Significant Accounting Policies | 2. Summary of Significant Accounting Policies Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from these estimates. Principles of Consolidation The Company consolidates financial results when it has a controlling financial interest in a subsidiary via voting rights or when it has both the power to direct the activities of an entity that most significantly impact the entity’s economic performance and the ability to absorb losses or the right to receive benefits of the entity that could potentially be significant to the entity. The Company utilizes the equity method of accounting when it is able to exercise significant influence over an entity’s operations, which generally occurs when the Company has an ownership interest between 20% and 50%. Earnings Per Share 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 15.3 million, 11.6 million, and 9.7 million for the years ended December 31, 2025, 2024, and 2023, 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):
Fair Value Measurements The Company determines the fair values of its assets and liabilities that are recognized or disclosed at fair value in accordance with the hierarchy described below. The following three levels of inputs may be used to measure fair value: • Level 1 - Quoted prices in active markets for identical assets or liabilities. • Level 2 - Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. For most of these assets, the Company utilizes pricing services that use multiple prices as inputs to determine daily market values. • Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include items where the determination of fair value requires significant management judgment or estimation. The Company holds assets classified as Level 3 that are recognized and disclosed at fair value on a non-recurring basis related to the Company’s business combinations, where the values of the intangible assets and goodwill acquired in a purchase are derived utilizing one of the three recognized approaches: the market approach, the income approach, or the cost approach.
Carrying amounts for many of the Company’s financial instruments, including cash and cash equivalents, settlement cash and cash equivalents, and settlement receivables and settlement obligations approximate fair value due to their short maturities. Available-for-sale investment securities, as further discussed in Notes 7 and 8, and derivative financial instruments, as further discussed in Notes 8 and 13, are carried at fair value. Fixed-rate notes are carried at their original issuance values and adjusted over time to amortize or accrete that value to par. The fair values of fixed-rate notes are disclosed in Note 8 and are based on market quotations. Business Combinations The Company accounts for all business combinations where control over another entity is obtained using the acquisition method of accounting, which requires that most assets (both tangible and intangible), liabilities (including contingent consideration), and remaining noncontrolling interests be recognized at fair value at the date of acquisition. The excess of the purchase price over the fair value of assets less liabilities and noncontrolling interests is recognized as goodwill. Certain adjustments to the assessed fair values of the assets, liabilities, or noncontrolling interests made subsequent to the acquisition date, but within the measurement period, which is one year or less, are recorded as adjustments to goodwill. Any adjustments subsequent to the measurement period are recorded within Net income. Any equity interest the Company holds in the acquired company prior to obtaining control of the entity is remeasured to fair value at acquisition with a resulting gain or loss recognized within Other income, net for the difference between fair value and existing book value. Results of operations of the acquired company are included in the Company’s results from the date of the acquisition forward and include amortization expense arising from acquired intangible assets. The Company expenses all costs as incurred related to or involved with an acquisition in Selling, general, and administrative expenses. Cash and Cash Equivalents Highly liquid investments (other than those included in settlement assets) with maturities of three months or less at the date of purchase (that are readily convertible to cash) are considered cash equivalents and are stated at cost, which approximates fair value. The Company maintains cash and cash equivalent balances, which may include a portion in money market funds, with a group of globally diversified banks and financial institutions. The Company limits the concentration of its cash and cash equivalents with any one institution and regularly reviews investment concentrations and credit worthiness of these institutions. Allowance for Credit Losses For the Company’s accounting policies with respect to the allowance for credit losses, refer to Note 7. Settlement Assets and Obligations Settlement assets represent funds received or to be received from agents and others for unsettled money transfers, money orders, and consumer payments. The Company records corresponding settlement obligations relating to amounts payable under money transfers, money orders, and consumer payment service arrangements. Settlement assets consist of cash and cash equivalents, receivables from agents and others, and investment securities. Cash received by Western Union agents generally becomes available to the Company within one week after initial receipt by the agent. Cash equivalents consist of short-term time deposits, commercial paper, and other highly liquid investments. Receivables from agents represent funds collected by such agents, but in transit to the Company. Western Union has a large and diverse agent base, thereby reducing the Company’s credit risk from any one agent. The Company performs ongoing credit evaluations of its agents’ financial condition and credit worthiness. Settlement obligations consist of money transfer, money order, and payment service payables, and payables to agents. Money transfer payables represent amounts to be paid to transferees when they request their funds. Most agents typically settle with transferees first and then obtain reimbursement from the Company. Money order payables represent amounts not yet presented for payment. Payment service payables represent amounts to be paid to utility companies, auto finance companies, mortgage servicers, financial service providers, government agencies, and others. Payables to agents represent amounts due to agents for money transfers that have been settled with transferees. Refer to Note 7 for additional details on the Company’s settlement assets and obligations. Property and Equipment Property and equipment are stated at cost. Depreciation is computed using the straight-line method over the lesser of the estimated life of the related assets (generally to seven years for equipment and furniture and fixtures) or the lease term. Maintenance and repairs, which do not extend the useful life of the respective assets, are charged to expense as incurred. Property and equipment consisted of the following (in millions):
Amounts charged to expense for depreciation of property and equipment were $35.2 million, $37.4 million, and $39.1 million during the years ended December 31, 2025, 2024, and 2023, respectively. Goodwill Goodwill represents the excess of purchase price over the fair value of tangible and other intangible assets acquired less liabilities assumed, arising from business combinations. In the event a reporting unit’s carrying amount exceeds its fair value, the Company recognizes an impairment charge for the amount by which the carrying amount of the reporting unit exceeds its fair value. The Company’s annual impairment assessment did not identify any goodwill impairment during the years ended December 31, 2025, 2024, and 2023. Other Intangible Assets Other intangible assets primarily consist of software, contract costs (amounts paid to agents in connection with establishing and renewing long-term contracts), and acquired contracts. Other intangible assets are generally amortized on a straight-line basis over the length of the contract or benefit period. Included in the Consolidated Statements of Income is amortization expense of $130.2 million, $141.7 million, and $144.5 million for the years ended December 31, 2025, 2024, and 2023, respectively. The Company purchases and develops software that is used in providing services and in performing administrative functions. For developed software, the Company capitalizes the eligible costs (predominantly detailed design, development, and testing) incurred during the application development stage, and all other costs are expensed as incurred. Once the software is ready for its intended use, software development costs and purchased software are generally amortized over a term of to seven years. The Company capitalizes initial payments for new and renewed agent contracts to the extent recoverable through future operations or penalties in the case of early termination. The Company’s accounting policy is to limit the amount of capitalized costs for a given contract to the lesser of the estimated future cash flows from the contract or the termination fees the Company would receive in the event of early termination of the contract. Capitalized contract costs are generally amortized over a term of to ten years. Acquired contracts include customer and contractual relationships and networks of subagents that are recognized in connection with the Company’s acquisitions. The following table provides the components of other intangible assets (in millions):
The estimated future aggregate amortization expense for existing other intangible assets as of December 31, 2025 is expected to be $153.3 million in 2026, $84.6 million in 2027, $32.1 million in 2028, $15.8 million in 2029, $13.2 million in 2030, and $21.1 million thereafter. Other intangible assets are reviewed for impairment on an annual basis or whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. In such reviews, estimated undiscounted cash flows associated with these assets or operations are compared with their carrying values to determine if a write-down to fair value (normally measured by the present value technique) is required. The Company recorded immaterial impairments related to other intangible assets during the years ended December 31, 2025 and 2024 and approximately $9 million of related to other intangible assets during the year ended December 31, 2023. Other Investments Other investments consist of equity investments in privately-held companies that do not have readily determinable fair values. For these investments, the Company has less than a 20% interest and does not have control or significant influence. The Company has elected to measure these investments at cost less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment in the same issuer. These investments are reflected in Other assets in the Consolidated Balance Sheets as of December 31, 2025 and 2024. The Company has not recorded any material annual or cumulative impairment losses or valuation adjustments based on observable price changes. Revenue Recognition For the Company’s accounting policies with respect to revenue recognition, refer to Note 3. Cost of Services Cost of services primarily consists of agent commissions and expenses for call centers, settlement operations, and related information technology costs. Expenses within these functions include personnel, software, equipment, bank fees, credit losses, depreciation, amortization, and other expenses incurred in connection with providing money transfer and other payment services. Advertising Costs Advertising costs are charged to operating expenses as incurred. Advertising costs for the year ended December 31, 2025 were approximately 3% of revenues, and for the years ended December 31, 2024 and 2023 were approximately 4% of revenues in each period. Income Taxes The Company accounts for income taxes under the liability method, which requires that deferred tax assets and liabilities be determined based on the expected future income tax consequences of events that have been recognized in the consolidated financial statements. Deferred tax assets and liabilities are recognized based on temporary differences between the financial statement carrying amounts and tax bases of assets and liabilities using enacted tax rates in effect in the years in which the temporary differences are expected to reverse. The Company routinely assesses the realizability of its deferred tax assets. A valuation allowance must be established when, based upon available evidence, it is more likely than not that all or a portion of the deferred tax assets will not be realized. The Company recognizes the tax benefits from uncertain tax positions only when it is more likely than not, based on the technical merits of the position, that the tax position will be sustained upon examination, including the resolution of any related appeals or litigation. The tax benefits recognized in the consolidated financial statements from such a position are measured as the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate resolution. The Company accounts for the effects of global intangible low-taxed income taxed in the United States as a component of income tax expense in the period the tax arises. Foreign Currency Translation The United States dollar is the functional currency for substantially all of the Company’s businesses. Revenues and expenses are generally translated at average exchange rates prevailing during the period. Foreign currency denominated assets and liabilities for those businesses for which the local currency is the functional currency are translated into United States dollars based on exchange rates at the end of the year. The effects of foreign exchange gains and losses arising from the translation of assets and liabilities of these businesses are included as a component of accumulated other comprehensive loss (“AOCL”) in the accompanying Consolidated Balance Sheets. Foreign currency denominated monetary assets and liabilities of businesses for which the United States dollar is the functional currency are remeasured based on exchange rates at the end of the period, and the resulting remeasurement gains and losses are recognized in net income. Non-monetary assets and liabilities of these operations are remeasured at historical rates in effect when the asset was recognized or the liability was incurred. The Company has bill payment and other businesses in Argentina for which the local currency is the functional currency. However, as Argentina has been classified as a highly inflationary economy, all changes in the value of the Argentine peso on these businesses’ monetary assets and liabilities are reflected in net income. Derivatives The Company has used derivatives to minimize its exposures related to changes in foreign currency exchange rates and, periodically, interest rates. The Company recognizes all derivatives in the accompanying Consolidated Balance Sheets at their fair value. All cash flows associated with derivatives are included in Cash flows from operating activities in the Consolidated Statements of Cash Flows. Certain of the Company’s derivative arrangements are designated as cash flow hedges at the time of inception, and others are not designated as accounting hedges. • Cash flow hedges – Cash flow hedges consist of foreign currency hedging of forecasted revenues, as well as hedges of the forecasted issuance of fixed-rate debt. Derivative fair value changes that are captured in AOCL are reclassified to earnings in the same period the hedged item affects earnings when the instrument is effective in offsetting the change in cash flows attributable to the risk being hedged. The Company excludes time value from the assessment of effectiveness, and the initial value of the excluded components in the Company’s foreign currency cash flow hedges is amortized into Revenues within the Consolidated Statements of Income. • Undesignated - Derivative contracts entered into to reduce the foreign exchange variability related to: (i) money transfer settlement assets and obligations, generally with maturities from a few days up to one month, and (ii) certain foreign currency denominated cash and other asset and liability positions, typically with maturities of less than one year at inception, are not designated as hedges for accounting purposes, and changes in their fair value are included in Selling, general, and administrative. The fair value of the Company’s derivatives is derived from standardized models that use market-based inputs (e.g., forward prices for foreign currency). The details of each designated hedging relationship must be formally documented at the inception of the arrangement, including the risk management objective, hedging strategy, hedged item, specific risks being hedged, the derivative instrument, and how effectiveness is being assessed. The derivative must be highly effective in offsetting the changes in cash flows of the hedged item, and effectiveness is evaluated quarterly on a retrospective and prospective basis. Legal Contingencies The Company is a party to certain legal and regulatory proceedings with respect to a variety of matters. The Company records an accrual for these contingencies to the extent that a loss is both probable and reasonably estimable. If some amount within a range of loss is determined to be a better estimate than other amounts within the range, that amount is accrued. When no amount within a range of loss is determined to be a better estimate than any other amount, the lowest amount in the range is accrued. Stock-Based Compensation The Company has a stock-based compensation plan that provides for grants of Western Union stock options, restricted stock awards, restricted stock units, and deferred stock units to employees and non-employee directors of the Company. All stock-based compensation to employees is required to be measured at fair value and expensed over the requisite service period. The Company generally recognizes compensation expense on awards on a straight-line basis over the requisite service period with an estimate for forfeitures. Refer to Note 15 for additional discussion regarding details of the Company’s stock-based compensation plans. Severance and Other Related Expenses The Company records severance-related expenses once they are both probable and estimable in accordance with the provisions of the applicable accounting guidance for severance provided under an ongoing benefit arrangement. One-time involuntary benefit arrangements and other costs are generally recognized when the liability is incurred. The Company also evaluates impairment issues associated with restructuring and other activities when the carrying amount of the related assets may not be fully recoverable, in accordance with the appropriate accounting guidance. Recently Adopted Accounting Pronouncements In , the Company adopted a new accounting standard that requires the Company to disclose more consistent and detailed categories in its statutory to effective income tax rate reconciliations and further disaggregate income taxes paid by jurisdiction, on a prospective basis. The adoption of this standard did not have an impact on the Company’s financial position or results of operations. Refer to Note 10 for additional information and the related disclosures. In , the Company adopted a new accounting standard that requires the Company to expand reportable segment disclosures, primarily through enhanced disclosures about significant segment expenses. The adoption of this standard did not have an impact on the Company's financial position or results of operations. Refer to Note 16 for additional information and the related disclosures. Accounting Pronouncements Not Yet Adopted In November 2024, the Financial Accounting Standards Board (“FASB”) issued a new accounting pronouncement regarding the disclosure of specified information about certain costs and expenses. The standard requires that public entities disclose certain detailed information about the types of expenses included in the expense captions presented within the Consolidated Statements of Income, provide qualitative descriptions for expenses not separately disaggregated quantitatively, and disclose an entity's definition and total amount of selling expenses. The Company is required to adopt the new standard for its 2027 annual reporting and interim periods thereafter, using either a prospective or retrospective approach. Management is currently evaluating the potential impact that the adoption of this standard will have on the Company's disclosures. In September 2025, the FASB issued a new accounting pronouncement regarding accounting for internal-use software costs. The standard requires that entities capitalize software costs when both management has authorized and is committed to funding the software project, and it is probable that the project will be completed and the software will be used to perform the function intended, referred to as the “probable-to-complete recognition threshold.” In evaluating the probable-to-complete recognition threshold, all entities that account for internal-use software costs under GAAP are required to consider whether there is significant uncertainty associated with the software development activities. The Company is required to adopt the new standard for annual and interim periods beginning after December 15, 2027. Management is currently evaluating the potential impact that the adoption of this standard will have on the Company's financial position, results of operations, and disclosures. |
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| Revenue from Contract with Customer [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Revenue | 3. RevenueThe Company’s revenues are primarily derived from consideration paid by customers to transfer money. These revenues vary by transaction based upon factors such as channel, send and receive locations, the send and receive funding method, the principal amount sent, and, when the money transfer involves different send and receive currencies, the difference between the exchange rate set by the Company to the customer and a rate available in the wholesale foreign exchange market. The Company also offers other services, including bill payment services, for which revenue is impacted by similar factors. For the substantial majority of the Company’s revenues, the Company acts as the principal in transactions and reports revenue on a gross basis, as the Company controls the service at all times prior to transfer to the customer, is primarily responsible for fulfilling the customer contracts, has the risk of loss, and has the ability to establish transaction prices. The Company also provides services to financial institutions and other third parties to enable such entities to offer money transfer services to their own customers under their brands. Generally, in these arrangements, consumers agree to terms and conditions specified by the financial institution or other third party that, among other things, establish pricing paid by the consumer for the service. The Company recognizes revenue on a net basis under these arrangements. Revenue is recognized net of any taxes collected from customers, which are subsequently remitted to governmental authorities. The Company recognized $3,879.6 million, $4,027.1 million, and $4,158.0 million in revenues from contracts with customers for the years ended December 31, 2025, 2024, and 2023, respectively. There were no material upfront costs incurred to obtain contracts with customers during these same periods. The Company has immaterial contract liability balances as of December 31, 2025 and 2024, which primarily related to its customer loyalty programs and other services. Contract asset balances related to customers were also immaterial as of December 31, 2025 and 2024, as the Company typically receives payment of consideration from its customers prior to satisfying performance obligations under the customer contracts. In addition to revenue generated from contracts with customers, the Company recognizes revenue from other sources, including investment income generated on settlement assets primarily related to money transfer and money order services and impacts from the Company’s foreign currency cash flow hedges. The Company analyzes its different services individually to determine the appropriate basis for revenue recognition, as further described below. Revenues from consumer money transfers are included in the Company’s Consumer Money Transfer segment and revenues from consumer bill payment, travel money, and other services are included in the Company’s Consumer Services segment. Revenues from business-to-business foreign exchange and payment services were included in the Company’s Business Solutions segment. See Note 16 for further information on the Company’s segments.
Consumer Money Transfers For the Company’s money transfer services, customers agree to the Company’s terms and conditions at the time of initiating a transaction. In a money transfer, the Company has one performance obligation as the customer engages the Company to perform one integrated service which typically occurs within minutes — collect the customer’s money and make funds available for payment to a designated person in the currency requested. Therefore, the Company recognizes revenue upon completion of the following: (i) the customer’s acknowledgment of the Company’s terms and conditions and payment information has been received by the Company, (ii) the Company has agreed to process the money transfer, and (iii) the Company has completed the processing of the money transfer, so that funds are available to be picked up in cash at a retail location or have been delivered to the account of the customer’s designated receiving party. The transaction price is comprised of a transaction fee and the difference between the exchange rate set by the Company to the customer and a rate available in the wholesale foreign exchange market, as applicable, both of which are readily determinable at the time the transaction is initiated. Consumer Services The Company offers bill payment, travel money, and other services that vary by contractual features, including the types and amounts of fixed charges and with respect to how fees are billed and collected. The identification of the contract with the customer for revenue recognition purposes is consistent with these features for each of these services. As with consumer money transfers, bill payment customers engage the Company to perform one integrated service — collect money from the consumer and process the transaction, thereby providing billers with real-time or near real-time information regarding consumer payments and simplifying the billers’ collection efforts. In travel money services, the Company earns revenue for the difference between the exchange rate for the currency sold to the consumer and the rate at which the Company acquired the currency and recognizes revenue at the time of the currency exchange with the consumer. Foreign Exchange and Payment Services The Company’s business-to-business foreign exchange and payment services ceased after the divestiture of its Business Solutions business. For the Company’s business-to-business foreign exchange and payment services, customers agreed to terms and conditions for all transactions, either at the time of initiating a transaction or signing a contract with the Company to provide payment services on the customer’s behalf. In the majority of the Company’s business-to-business foreign exchange and payment services, the Company made payments to the recipient to satisfy its performance obligation to the customer, and therefore, the Company recognized revenue on business-to-business foreign exchange and payment services when this performance obligation had been fulfilled. Revenues from business-to-business foreign exchange and payment services were primarily comprised of the difference between the exchange rate set by the Company to the customer and a rate available in the wholesale foreign exchange market. The substantial majority of the Company’s revenue is recognized at a point in time. The following tables represent the disaggregation of revenue earned from contracts with customers by product type and region for the years ended December 31, 2025, 2024, and 2023 (in millions). The regional split of revenue shown in the tables below is based upon where transactions are initiated.
(a) Includes revenue from investment income generated on settlement assets primarily related to money transfer and money order services, impacts from the Company’s foreign currency cash flow hedges, and other sources. (b) On August 4, 2021, the Company entered into an agreement to sell its Business Solutions business to Goldfinch Partners LLC and The Baupost Group LLC. The final closing occurred on July 1, 2023. See Note 4 for further information regarding this transaction. |
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Acquisitions, Divestitures, and Goodwill |
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| Acquisitions, Divestitures, and Goodwill [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Acquisitions, Divestitures, and Goodwill | 4. Acquisitions, Divestitures, and Goodwill International Money Express Inc. On August 10, 2025, the Company entered into an agreement to purchase the entire share capital of International Money Express, Inc. (“Intermex”) for approximately $500 million in cash. This transaction is expected to close in the second quarter of 2026, subject to the satisfaction of customary closing conditions, including receipt of remaining regulatory approvals. Intermex is a leading omnichannel money transfer provider, focused primarily on the United States to Latin America and the Caribbean corridors, through a network of agent retail locations, Intermex-operated stores, its mobile app, and websites. Eurochange Limited On April 7, 2025, the Company acquired the entire share capital of Eurochange Limited (“Eurochange”). The acquisition of Eurochange better enables the Company to deliver accessible financial services to consumers by expanding its travel money services and Company-operated locations in the United Kingdom (“UK”). Eurochange primarily provides travel money services through its own network of locations, agent locations, kiosks, and online platforms. Business Solutions Divestiture On August 4, 2021, the Company entered into an agreement to sell its Business Solutions business to Goldfinch Partners LLC and The Baupost Group LLC (collectively, “the Buyer”) for cash consideration of $910.0 million. The sale was completed in three closings, with the entire cash consideration collected at the first closing and allocated to the closings on a relative fair value basis. The final closing occurred on July 1, 2023, included the European Union operations, and resulted in a gain of $18.0 million. During the period between the first and final closings, the Company was required to pay the Buyer a measure of profit of the European Union operations, while owned by the Company, adjusted for the occupancy charges for employees of the Buyer using Company facilities and other items, as contractually agreed, which was $2.7 million for the year ended December 31, 2023 and was included in Other income, net in the Consolidated Statements of Income. The related income tax expense on this income was also passed to the Buyer. Business Solutions revenues included in the Consolidated Statements of Income were $29.7 million and direct operating expenses, excluding corporate allocations, were $26.1 million for the year ended December 31, 2023. Divestiture costs directly associated with this transaction were $1.1 million for the year ended December 31, 2023. Goodwill The following table presents changes to goodwill for the years ended December 31, 2025 and 2024:
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Commitments and Contingencies |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| Commitments and Contingencies | 5. Commitments and ContingenciesLetters of Credit and Bank Guarantees The Company had approximately $120 million in outstanding letters of credit and bank guarantees as of December 31, 2025, which were primarily held in connection with regulatory requirements, lease arrangements, and certain agent agreements. The Company expects to renew many of its letters of credit and bank guarantees prior to expiration. Litigation and Related Contingencies The Company is subject to certain claims, investigations, and litigation that could result in losses, including damages, fines, and/or civil penalties, which could be significant, and in some cases, criminal charges. The Company regularly evaluates the status of legal matters to assess whether a loss is probable and reasonably estimable in determining whether an accrual is appropriate. Furthermore, in determining whether disclosure is appropriate, the Company evaluates each legal matter to assess if there is at least a reasonable possibility that a material loss or additional material losses may have been incurred. The Company also evaluates whether an estimate of possible loss or range of loss can be made. Unless otherwise specified below, the Company believes that there is at least a reasonable possibility that a loss or additional loss may have been incurred for each of the matters described below. For those matters that the Company believes there is at least a reasonable possibility that a loss or additional loss may have been incurred and can reasonably estimate the loss or potential loss, the reasonably possible potential litigation losses in excess of the Company’s recorded liability for probable and estimable losses was approximately $30 million as of December 31, 2025. For the remaining matters, management is unable to provide a meaningful estimate of the possible loss or range of loss because, among other reasons: (i) the proceedings are in preliminary stages; (ii) specific damages have not been sought; (iii) damage claims are unsupported and/or unreasonable; (iv) there is significant uncertainty as to the outcome of pending appeals or motions; (v) there are significant factual issues to be resolved; or (vi) novel legal issues or unsettled legal theories are being asserted. The outcomes of legal actions are unpredictable and subject to significant uncertainties, and it is inherently difficult to determine whether any loss is probable or even possible. It is also inherently difficult to estimate the amount of any loss, and there may be matters for which a loss is probable or reasonably possible but not currently estimable. Accordingly, actual losses may be in excess of the established liability or the range of reasonably possible loss. Legal Matters In October 2015, Consumidores Financieros Asociación Civil para su Defensa, an Argentinian consumer association, filed a purported class action lawsuit in Argentina’s National Commercial Court No. 19 against the Company’s subsidiary Western Union Financial Services Argentina S.R.L. (“WUFSA”). The lawsuit alleges, among other things, that WUFSA’s fees for money transfers sent from Argentina are excessive and that WUFSA does not provide consumers with adequate information about foreign exchange rates. The plaintiff is seeking, among other things, an order requiring WUFSA to reimburse consumers for the fees they paid and the foreign exchange revenue associated with money transfers sent from Argentina, plus punitive damages. The complaint does not specify a monetary value of the claim or a time period. In November 2015, the Court declared the complaint formally admissible as a class action. The notice of claim was served on WUFSA in May 2016, and in June 2016 WUFSA filed a response to the claim and moved to dismiss it on statute of limitations and standing grounds. In April 2017, the Court deferred ruling on the motion until later in the proceedings. The process for notifying potential class members has been completed, and the case is in the evidentiary stage. Due to the stage of this matter, the Company is unable to predict the outcome or the possible loss or range of loss, if any, associated with this matter. WUFSA intends to defend itself vigorously. In late 2017, three individuals filed a lawsuit against certain alleged Western Union entities (collectively, the “Defendants”) in the Commercial Court in Kinshasa-Gombe in the Democratic Republic of the Congo (“DRC”), which was later joined by three additional individuals. These six individuals (the “Plaintiffs”), including current and/or former DRC government officials, claim that their privacy rights were violated and sought €22.4 million in damages. In 2018, the Commercial Court in Kinshasa-Gombe entered a judgment against the Defendants in the amount of €10.5 million ($12.3 million as of December 31, 2025). In 2019, the Commercial Court in Kinshasa-Gombe entered a judgment against the Company in the amount of €9 million ($10.6 million as of December 31, 2025). The Plaintiffs have previously sought to seize funds from the Company’s agents in the DRC and may continue to attempt to seize funds to satisfy the judgments. The Defendants have learned that certain challenges to the judgments have been denied. The Defendants and the Company intend to continue to challenge both judgments and defend themselves vigorously in these matters. Regulatory Proceedings In September 2025, the Australian Transaction Reports and Analysis Centre (“AUSTRAC”) provided notice to Western Union Financial Services (Australia) PTY Ltd. (“WUFSA”), a subsidiary of the Company, asserting that it had grounds to suspect that WUFSA was not compliant with Australia’s money laundering and counter-terrorism financing act and requiring WUFSA to appoint an independent auditor to complete an audit of WUFSA’s compliance with specific sections of the act. The audit is ongoing, and WUFSA has provided, continues to provide, and may receive additional requests for information and documents related to the audit. Due to the investigative stage of the matter and the fact that no criminal charges or civil claims have been brought by AUSTRAC, the Company is unable to predict the outcome of the audit and any related regulatory enforcement, or reasonably estimate the possible loss or range of loss, if any, which could be associated with the resolution of any possible charges or claims that may be brought against WUFSA. In addition to the principal matters described above, the Company is a party to a variety of other legal matters that arise in the normal course of the Company’s business. While the results of these other legal matters cannot be predicted with certainty, management believes that the final outcome of these matters will not have a material adverse effect either individually or in the aggregate on the Company’s financial condition, results of operations, or cash flows. |
Related Party Transactions |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions | 6. Related Party TransactionsThe Company has ownership interests in certain of its agents accounted for under the equity method of accounting. The Company pays these agents commissions for money transfer and other services provided on the Company’s behalf. recognized for these agents for the years ended December 31, 2025, 2024, and 2023 totaled $40.9 million, $45.5 million, and $45.4 million, respectively. |
Settlement Assets and Obligations |
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| Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Settlement Assets and Obligations | 7. Settlement Assets and ObligationsSettlement assets represent funds received or to be received from agents and others for unsettled money transfers, money orders, and consumer payments. The Company records corresponding settlement obligations relating to amounts payable under money transfers, money orders, and consumer payment service arrangements. Settlement assets and obligations consisted of the following (in millions):
Allowance for Credit Losses Receivables from agents and others primarily represent funds collected by such agents, but in transit to the Company. Cash received by Western Union agents generally becomes available to the Company within one week after initial receipt by the agent. Western Union has a large and diverse agent base, thereby reducing the credit risk of the Company from any one agent. The Company performs ongoing credit evaluations of its agents’ financial condition and credit worthiness. The Company establishes and monitors an allowance for credit losses related to receivables from agents and others. The Company has estimated the allowance based on its historical collections experience, adjusted for current conditions and forecasts of future economic conditions based on information known as of December 31, 2025. The following tables summarize the activity in the allowance for credit losses on receivables from agents and others, and Business Solutions customers (in millions):
(a) Provision does not include losses from chargebacks or fraud associated with transactions initiated through the Company’s digital channels, as these losses are not credit-related. In addition, from time to time, the Company makes advances to its agents and disbursement partners. The Company often owes settlement funds payable to these agents that offset these advances. These amounts advanced to agents and disbursement partners are included within Other assets in the accompanying Consolidated Balance Sheets. As of December 31, 2025 and 2024, amounts advanced to agents and disbursement partners were $202.2 million and $209.1 million, respectively, and the related allowances for credit losses were immaterial. Investment Securities Investment securities included in Settlement assets in the Company’s Consolidated Balance Sheets consist primarily of highly-rated state and municipal debt securities, including fixed-rate term notes. Investment securities are exposed to market risk due to changes in interest rates and credit risk. The Company is required to hold highly-rated, investment grade securities, and such investments are restricted to satisfy outstanding settlement obligations in accordance with applicable regulatory requirements. The Company’s investment securities are classified as available-for-sale and recorded at fair value. Western Union regularly monitors credit risk and attempts to mitigate its exposure by investing in highly-rated securities and through investment diversification. Unrealized gains on available-for-sale securities are excluded from earnings and presented as a component of accumulated other comprehensive loss, net of related deferred taxes. Available-for-sale securities with a fair value below the amortized cost basis are evaluated on an individual basis to determine whether the impairment is due to credit-related factors or noncredit-related factors. Factors that could indicate a credit loss exists include but are not limited to: (i) negative earnings performance, (ii) credit rating downgrades, or (iii) adverse changes in the regulatory or economic environment of the asset. Any impairment that is not credit-related is excluded from earnings and presented as a component of accumulated other comprehensive loss, net of related deferred taxes, unless the Company intends to sell the impaired security, or it is more likely than not that the Company will be required to sell the security before recovering its amortized cost basis. Credit-related impairments are recognized immediately as an adjustment to earnings, regardless of whether the Company has the ability or intent to hold the security to maturity, and are limited to the difference between fair value and the amortized cost basis. The components of investment securities are as follows (in millions):
(a) The majority of these securities are fixed-rate instruments. The Company’s provision for credit losses on its investment securities for the years ended December 31, 2025, 2024, and 2023 and the related allowance for credit losses as of December 31, 2025 and 2024 were immaterial. As of December 31, 2025, the Company did not intend to sell its securities in an unrealized loss position and did not expect it would be required to sell these securities prior to recovering their amortized cost basis. The following summarizes the contractual maturities of available-for-sale securities within Settlement assets as of December 31, 2025 (in millions):
Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay the obligations or the Company may have the right to put the obligation prior to its contractual maturity. |
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Fair Value Measurements |
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| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Measurements | 8. Fair Value MeasurementsFair 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):
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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Other Assets and Other Liabilities |
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| Other Assets and Other Liabilities | 9. Other Assets and Other LiabilitiesThe following table summarizes the components of Other assets and Other liabilities (in millions):
(a) Represents equity investments without readily determinable fair values recorded at cost less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment in the same issuer. |
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Income Taxes |
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| Income Tax Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Taxes | 10. Income TaxesThe components of pre-tax income, generally based on the jurisdiction of the legal entity, were as follows (in millions):
For the years ended December 31, 2025, 2024, and 2023, 122%, 112%, and 105% of the Company’s pre-tax income was derived from foreign sources, respectively. For the year ended December 31, 2025, the Company’s effective tax rates differed from statutory rates as follows (in millions):
(a) State taxes in Colorado, Pennsylvania, and South Carolina made up the majority of the tax effect in this category.
For the years ended December 31, 2024, and 2023, the Company’s effective tax rates differed from statutory rates as follows (in millions):
The change in the Company’s effective tax rate for the year ended December 31, 2025 compared to the prior year was primarily due to the recognition of deferred tax assets, net of valuation allowance, associated with the reorganization of the Company's international operations and a settlement of the IRS examination of the Company's federal income tax returns, which resulted in tax benefits of $255.2 million and $137.8 million, respectively. Both of these items occurred and were recognized in the year ended December 31, 2024, and the change in the Company’s effective tax rate for the year ended December 31, 2024 compared to the year ended December 31, 2023 was also primarily due to these items. In addition to the items included in the reconciliation of the Company’s comparable effective tax rate, in the fourth quarter of 2023, the Company concluded steps to eliminate certain intercompany financing subsidiaries. The steps resulted in cancellation of certain intercompany debts which were offset by utilization of net operating losses that prior to the fourth quarter of 2023 were determined to have a remote possibility of realization, subject to full valuation allowance. There was no net tax effect of these steps. The Company’s provision for/(benefit from) income taxes consisted of the following components (in millions):
For the year ended December 31, 2025, the components of income taxes paid was as follows (in millions):
(a) The amount of income taxes paid during the year in any individual jurisdiction did not exceed 5% of total income taxes paid.
Deferred tax assets and liabilities are recognized for the expected tax consequences of temporary differences between the book and tax bases of the Company’s assets and liabilities. The following table outlines the principal components of deferred tax items (in millions):
(a) As of December 31, 2025 and 2024, deferred tax assets that cannot be fully offset by deferred tax liabilities in the respective tax jurisdictions were $226.2 million and $265.0 million, respectively. Deferred tax assets for tax attribute carryovers and valuation allowance included in the above table exclude the impact of tax attribute carryovers determined to have a remote possibility of realization. The valuation allowances are primarily the result of uncertainties regarding the Company’s ability to recognize tax benefits associated with certain United States foreign tax credit carryforwards, certain foreign and state net operating losses, and certain foreign deferred tax assets related to indefinite-lived intangibles. Changes in circumstances, or the identification and implementation of relevant tax planning strategies, could make it foreseeable that the Company will recover these deferred tax assets in the future, which could lead to a reversal of these valuation allowances and a reduction in income tax expense. The Company has outside book-tax basis differences that primarily relate to undistributed foreign earnings not already subject to United States federal, state, or non-United States income taxation. Such undistributed earnings continue to be indefinitely reinvested in foreign operations. Upon future realization of the Company’s book-tax basis differences, the Company could be subject to United States federal income taxes, state taxes, and possible withholding taxes payable to various foreign countries. However, determination of this amount of unrecognized deferred tax liability is not practicable because of complexities associated with its hypothetical calculation. Tax reform legislation enacted into United States law in 2017 (“the Tax Act”) imposed a domestic one-time tax on the Company’s previously undistributed earnings of foreign subsidiaries, with certain exceptions. This tax charge, combined with the Company’s other 2017 United States taxable income and tax attributes, resulted in a 2017 United States federal tax liability of approximately $800 million. The Company elected to pay this liability in periodic installments with the final installment payment occurring in the second quarter of 2025. For the years ended December 31, 2025, 2024, and 2023, the Company made installment payments of $218.7 million, $159.3 million, and $119.5 million, respectively. On July 4, 2025, the United States government enacted into law the One Big Beautiful Bill Act (the “OBBB”). The OBBB includes a broad range of tax reform provisions affecting businesses, and while the Company continues to evaluate the provisions of the OBBB as they become effective, the income tax provisions of the OBBB did not have a material impact on its current financial position or results of operations. Uncertain Tax Positions The Company has established contingency reserves for a variety of tax exposures. As of December 31, 2025, the total amount of tax contingency reserves was $21.0 million, including accrued interest and penalties, net of related items. The Company’s tax reserves reflect management’s judgment as to the resolution of the issues involved if subject to judicial review or other settlement. While the Company believes its reserves are adequate to cover reasonably expected tax risks, there can be no assurance that, in all instances, an issue raised by a tax authority will be resolved at a financial cost that does not exceed its related reserve. With respect to these reserves, the Company’s income tax expense would include: (i) any changes in tax reserves arising from material changes in facts and circumstances (i.e., new information) surrounding a tax issue during the period and (ii) any difference from the Company’s tax position as recorded in the financial statements and the final resolution of a tax issue during the period. Such resolution could materially increase or decrease income tax expense in the Company’s consolidated financial statements in future periods and could impact operating cash flows. Unrecognized tax benefits represent the aggregate tax effect of differences between tax return positions and the amounts otherwise recognized in the Company’s consolidated financial statements and are reflected in Income taxes payable in the Consolidated Balance Sheets. A reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding interest and penalties and before offset of related items, is as follows (in millions):
(a) Includes recurring accruals for issues which initially arose in previous periods. The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate was $47.7 million and $45.1 million as of December 31, 2025 and 2024, respectively, excluding interest and penalties. The Company recognizes interest and penalties with respect to unrecognized tax benefits in Provision for/(benefit from) income taxes in its Consolidated Statements of Income and records the associated liability in Income taxes payable in its Consolidated Balance Sheets. The Company recognized $(5.5) million, $(15.3) million, and $14.7 million in interest and penalties during the years ended December 31, 2025, 2024, and 2023, respectively. The Company has accrued $11.0 million and $16.6 million for the payment of interest and penalties as of December 31, 2025 and 2024, respectively. The unrecognized tax benefits accrual as of December 31, 2025 consists of federal, state, and foreign tax matters. The Company and its subsidiaries file tax returns for the United States, for multiple states and localities, and for various non-United States jurisdictions, with these filings subject to examination by the respective authorities. The conclusion of the examination of the Company's consolidated federal income tax returns for and 2018 resulted in both agreed and unagreed adjustments. The agreed adjustments have been reflected in the Company's financial statements, and the Company settled certain of the unagreed adjustments during the third quarter of 2024, which resulted in a tax benefit of $137.8 million for the year ended December 31, 2024. The Company is contesting the one remaining unagreed adjustment at the IRS Appeals level and has fully reserved for this unagreed adjustment. The Company's U.S. federal income tax returns since 2022 are also eligible to be examined. |
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Leases |
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Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases | 11. LeasesThe Company leases real properties for use as Company-operated locations, administrative offices, and sales offices, in addition to transportation, office, and other equipment. The Company determines if a contract contains a lease arrangement at the inception of the contract. For leases in which the Company is the lessee, leases are classified as either finance or operating, with classification affecting the pattern of expense recognition. Operating lease right of use (“ROU”) assets are initially measured at the present value of lease payments over the lease term plus initial direct costs, if any. If a lease does not provide a discount rate and the rate cannot be readily determined, an incremental borrowing rate is used to determine the present value of future lease payments. Lease and variable non-lease components within the Company’s lease agreements are accounted for separately. The Company has no material leases in which the Company is the lessor. The Company’s leasing arrangements are classified as operating leases, for which expense is recognized on a straight-line basis. As of December 31, 2025 and 2024, total assets were $195.2 million and $161.1 million, respectively, and operating lease were $225.7 million and $191.2 million, respectively. The ROU assets and operating lease liabilities are included in Other assets and Other liabilities, respectively, in the Company’s Consolidated Balance Sheets. Cash paid for operating lease liabilities is included in Cash flows from operating activities in the Company’s Consolidated Statements of Cash Flows. Operating lease costs, which are included in Total expenses in the Company’s Consolidated Statements of Income, were $69.1 million, $52.5 million, and $37.4 million for the years ended December 31, 2025, 2024, and 2023, respectively. Short-term and variable lease costs were not material for the years ended December 31, 2025, 2024, and 2023. The Company’s leases have remaining terms from less than 1 year to 10 years. Certain of these leases contain escalation provisions and/or renewal options, giving the Company the right to extend the lease by up to 10 years. However, a substantial majority of these options are not reflected in the calculation of the ROU asset and operating lease liability due to uncertainty surrounding the likelihood of renewal. The following table summarizes the weighted-average lease terms and discount rates for operating lease liabilities:
The following table represents maturities of operating lease liabilities as of December 31, 2025 (in millions):
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Stockholders' Equity |
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| Equity [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stockholders' Equity | 12. Stockholders’ EquityAccumulated Other Comprehensive Loss AOCL includes all changes in equity during a period that have not yet been recognized in income, except those resulting from transactions with shareholders. The components include unrealized gains and losses on investment securities, unrealized gains and losses from cash flow hedging activities, and foreign currency translation adjustments. Unrealized gains and losses on investment securities that are available for sale, primarily state and municipal debt securities, are included in AOCL until the investment is either sold or experiences a credit loss. See Note 7 for further discussion. The effective portion of the change in the fair value of derivatives that qualifies as a cash flow hedge is recorded in AOCL. Generally, amounts are recognized in income when the related forecasted transaction affects earnings. See Note 13 for further discussion. While the United States dollar is the functional currency for substantially all of the Company’s businesses, the assets and liabilities of foreign subsidiaries whose functional currency is not the United States dollar are translated using the appropriate exchange rate as of the end of the year. Foreign currency translation adjustments represent unrealized gains and losses on assets and liabilities arising from the difference in these foreign currencies compared to the United States dollar. These gains and losses are accumulated in other comprehensive income/(loss). When a foreign subsidiary is substantially liquidated or sold, the cumulative translation gain or loss is removed from AOCL and recognized as a component of the gain or loss on the liquidation or sale. The following table details reclassifications out of AOCL and into Net income. All amounts reclassified from AOCL affect the line items as indicated below, and the amounts in parentheses indicate decreases to Net income in the Consolidated Statements of Income.
The following tables summarize the components of AOCL, net of tax in the accompanying Consolidated Balance Sheets (in millions):
Cash Dividends Paid Cash dividends paid for the years ended December 31, 2025, 2024, and 2023 were $304.7 million, $318.3 million, and $346.1 million, respectively. The Company’s Board of Directors declared quarterly cash dividends of $0.235 per n share for each quarter during the years ended December 31, 2025, 2024, and 2023.
On February 19, 2026, the Company’s Board of Directors declared a quarterly cash dividend of $0.235 per common share payable on March 31, 2026 to shareholders of record at the close of business on March 17, 2026. Share Repurchases During the years ended December 31, 2025, 2024, and 2023, 23.7 million, 13.9 million, and 24.3 million shares, respectively, were repurchased for $224.7 million, $177.3 million, and $300.0 million, respectively, excluding commissions, at an average cost of $9.49, $12.75, and $12.35, respectively, under the share repurchase authorizations approved by the Company's Board of Directors, including one which expired on December 31, 2024. On December 13, 2024, the Company's Board of Directors authorized $1.0 billion of common stock repurchases with no expiration date. As of December 31, 2025, $775.3 million remained available under this share repurchase authorization. The amounts included in the Common stock repurchased line in the Company’s Consolidated Statements of Cash Flows represent both shares authorized by the Board of Directors for repurchase under publicly announced authorizations and shares withheld from employees to cover tax withholding obligations on stock awards that have vested. |
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Derivatives |
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| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivatives | 13. DerivativesThe Company is exposed to foreign currency exchange risk resulting from fluctuations in exchange rates, including the euro, and, to a lesser degree, the British pound, the Canadian dollar, and other currencies, related to forecasted revenues and settlement assets and obligations, as well as on certain foreign currency denominated cash and other asset and liability positions. Additionally, the Company is exposed to interest rate risk related to changes in market rates both prior to and subsequent to the issuance of debt. The Company uses derivatives to minimize its exposures related to changes in foreign currency exchange rates and interest rates. The Company executes derivatives with established financial institutions; the substantial majority of these financial institutions have a credit rating of “A-” or higher from a major credit rating agency. The primary credit risk inherent in derivative agreements represents the possibility that a loss may occur from the nonperformance of a counterparty to the agreements. The Company performs a review of the credit risk of these counterparties at the inception of the contract and on an ongoing basis, while also monitoring the concentration of its contracts with any individual counterparty. Foreign Currency Derivatives The Company’s policy is to use longer duration foreign currency forward contracts, with maturities of up to 36 months at inception and a targeted weighted-average maturity of to two years, to help mitigate some of the risk that changes in foreign currency exchange rates compared to the United States dollar could have on forecasted revenues denominated in other currencies related to its business. As of December 31, 2025, these foreign currency forward contracts had maturities of a maximum of 36 months with a weighted-average maturity of approximately one year. These contracts are accounted for as cash flow hedges of forecasted revenue, with effectiveness assessed based on changes in the spot rate of the affected currencies during the period of designation and thus time value is excluded from the assessment of effectiveness. The initial value of the excluded components is amortized into Revenues within the Company’s Consolidated Statements of Income. The Company also uses short duration foreign currency forward contracts, generally with maturities ranging from a to one month, to offset foreign exchange rate fluctuations on settlement assets and obligations between initiation and settlement. In addition, forward contracts, typically with maturities of less than one year at inception, are utilized to offset foreign exchange rate fluctuations on certain foreign currency denominated cash and other asset and liability positions. None of these contracts are designated as accounting hedges. The aggregate equivalent United States dollar notional amounts of foreign currency forward contracts as of December 31, 2025 and 2024 were as follows (in millions):
(a) Comprised of exposures to various currencies; none of these individual currency exposures is greater than $25 million. (b) Amount is below $25 million for the relevant period; therefore, the balance has been included within “Other.” Business Solutions Operations Prior to the final closing of the Business Solutions sale in 2023, the derivatives written related to this business were part of the broader portfolio of foreign currency positions arising from the Company’s cross-currency payments operations, which primarily included spot exchanges of currency in addition to forwards and options. Foreign exchange revenue from the total portfolio of positions included in Revenues in the Company’s Consolidated Statements of Income was $27.8 million for the year ended December 31, 2023. None of the derivative contracts used in Business Solutions operations were designated as accounting hedges. Balance Sheet The following table summarizes the fair value of derivatives reported in the Company’s Consolidated Balance Sheets as of December 31, 2025 and 2024 (in millions):
Offsetting of Derivative Assets and Liabilities
The Company has elected to present derivative assets and liabilities on a gross basis in the Consolidated Balance Sheets; however, derivatives associated with the Company's foreign currency exchange contracts that are subject to a master netting arrangement or similar agreement would have resulted in an offset of $6.2 million and $3.4 million to both derivative assets and liabilities as of December 31, 2025 and 2024, respectively. This includes the fair values of derivative assets and liabilities associated with contracts that include netting language that the Company believes to be enforceable. The Company’s rights under these agreements generally allow for transactions to be settled on a net basis, including upon early termination, which could occur upon the counterparty’s default, a change in control, or other conditions. Income Statement Cash Flow Hedges The effective portion of the change in fair value of derivatives that qualify as cash flow hedges is recorded in AOCL in the Company’s Consolidated Balance Sheets. Generally, amounts are recognized in income when the related forecasted transaction affects earnings. The following table presents the pre-tax amount of unrealized gains/(losses) recognized in other comprehensive income from cash flow hedges for the years ended December 31, 2025, 2024, and 2023 (in millions):
(a) For the years ended December 31, 2025, 2024, and 2023, gains/(losses) of $4.9 million, $(1.9) million, and $2.5 million, respectively, represent the amounts excluded from the assessment of effectiveness and recognized in other comprehensive income, for which an amortization approach is applied. The following table presents the location and amounts of pre-tax net gains/(losses) from cash flow hedging relationships recognized in the Consolidated Statements of Income for the years ended December 31, 2025, 2024, and 2023 (in millions):
Undesignated Hedges The following table presents the location and amount of pre-tax net gains/(losses) on derivatives (from undesignated hedges) in the Consolidated Statements of Income for the years ended December 31, 2025, 2024, and 2023 (in millions):
(a) The Company used foreign currency forward and option contracts as part of its Business Solutions payments operations. These derivative contracts are excluded from this table as they were managed as part of a broader currency portfolio that included non-derivative currency exposures. The gains and losses on these derivatives are included as part of the broader disclosure of portfolio revenue for this business discussed above. (b) The Company uses foreign currency forward contracts to offset foreign exchange rate fluctuations on settlement assets and obligations as well as certain foreign currency denominated positions. Foreign exchange gains/(losses) on settlement assets and obligations, cash balances, and other assets and liabilities, not including amounts related to derivative activity as displayed above and included in Selling, general, and administrative in the Consolidated Statements of Income, were $11.4 million, $(68.0) million, and $(2.6) million for the years ended December 31, 2025, 2024, and 2023, respectively. All cash flows associated with derivatives are included in Cash flows from operating activities in the Consolidated Statements of Cash Flows. Based on December 31, 2025 foreign exchange rates, an accumulated other comprehensive pre-tax loss of $19.8 million related to the foreign currency forward contracts is expected to be reclassified into Revenues within the next 12 months. |
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Borrowings |
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| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Borrowings | 14. BorrowingsThe Company’s outstanding borrowings consisted of the following (in millions):
(a) One of the Company's subsidiaries utilizes a short-term revolving credit facility agreement to fund certain operating activities in the UK. The subsidiary may borrow up to £60 million ($81 million as of December 31, 2025), and the facility expires in February 2030. Drawdowns of the credit facility borrowings are restricted for use in this subsidiary to purchase physical currency or repay existing borrowings on the facility. These credit facility borrowings as of December 31, 2025 had a weighted-average annual interest rate of approximately 5.3%. (b) Certain proceeds from the term loan facility borrowings were used to repay $500.0 million of the aggregate principal amount of 2.850% unsecured notes which matured in January 2025. See the Term Loan Facility and Notes sections below for further discussion. (c) The difference between the stated interest rate and the effective interest rate is not significant. (d) As of December 31, 2025, the Company’s weighted-average effective rate on total borrowings was approximately 4.3%.
The following summarizes the Company’s maturities of its borrowings at par value as of December 31, 2025 (in millions):
The Company’s notes, term loan facility, and commercial paper program, as described below, rank equally. These obligations may be structurally subordinated to obligations of the Company’s subsidiaries. Commercial Paper Program Pursuant to the Company’s commercial paper program, the Company may issue unsecured commercial paper notes in an amount not to exceed $1.62 billion outstanding at any time, reduced to the extent of borrowings outstanding on the Company’s Revolving Credit Facility as defined below. The commercial paper notes may have maturities of up to 397 days from date of issuance. The Company’s commercial paper borrowings as of December 31, 2025 had a weighted-average annual interest rate of approximately 3.9% and a weighted-average term of approximately 4 days. As of December 31, 2025, the Company had $392 million in commercial paper borrowings outstanding and as of December 31, 2024, the Company had no commercial paper borrowings outstanding. Revolving Credit Facility The Company has a revolving credit facility that provides for unsecured financing facilities, including a $250.0 million letter of credit subfacility and $300.0 million swing line sublimit, and allows the Company to draw loans payable based upon the Secured Overnight Financing Rate (“SOFR”), the Euro Interbank Offered Rate, or the Sterling Overnight Index Average (the “Revolving Credit Facility”). On February 28, 2025, the Company increased the aggregate revolving credit commitments to $1.62 billion. The Revolving Credit Facility matures on November 30, 2029. The Revolving Credit Facility supports borrowings under the Company’s commercial paper program. Interest due under the Revolving Credit Facility is payable according to the terms of that borrowing. Generally, interest under the Revolving Credit Facility is calculated using either (i) an adjusted term SOFR, or other applicable benchmark based on the currency of the borrowing, plus an interest rate margin determined on a sliding scale from 0.920% to 1.425% based on the Company’s credit rating (currently 1.140%) or (ii) a base rate plus a margin determined on a sliding scale from 0.000% to 0.425% based on the Company’s credit rating (currently 0.140%). A facility fee on the total amount of the facility is also payable quarterly, regardless of usage, and such facility fee is determined on a sliding scale from 0.080% to 0.200% based on the Company’s credit rating (currently 0.110%). As of December 31, 2025 and 2024, the Company had no revolving credit facility borrowings outstanding. Term Loan Facility On June 25, 2024, the Company entered into a delayed draw term loan credit agreement providing for an unsecured term loan facility in an aggregate amount of $800.0 million (the “Term Loan Facility”). On December 13, 2024, the Company drew upon the Term Loan Facility in the total amount of $800.0 million, and such borrowings mature on December 13, 2027. The Company has the option to increase the commitments under the Term Loan Facility by an amount such that the commitments do not exceed $1.0 billion in the aggregate (after giving effect to any such increases). Any such increases would be subject to obtaining additional commitments from existing or new lenders under the Term Loan Facility. The Company used the proceeds from the Term Loan Facility borrowings to repay the Company’s issued and outstanding 2.850% notes due January 2025, to reduce commercial paper balances, and for general corporate purposes. Delayed Draw Term Loan Facility On January 9, 2026, the Company entered into a new delayed draw term loan credit agreement (“Delayed Draw Term Loan Facility”) providing for an unsecured term loan facility in an aggregate amount of $800.0 million. The Company has until July 8, 2026 to draw upon the Delayed Draw Term Loan Facility, which matures on the third anniversary of the initial funding date. The Company has the option to increase the commitments under the Delayed Draw Term Loan Facility by an amount such that the commitments do not exceed $1.0 billion in the aggregate (after giving effect to any such increases). Any such increases would be subject to obtaining additional commitments from existing or new banks under the Delayed Draw Term Loan Facility. The Company may use the proceeds from the Delayed Draw Term Loan Facility to repay its 1.350% notes due March 2026 or finance the cash consideration for its acquisition of the outstanding equity interests of Intermex. Interest due under the Term Loan Facility and the Delayed Draw Term Loan Facility is payable according to the terms of that respective facility. Generally, interest under the Term Loan Facility and the Delayed Draw Term Loan Facility is calculated using either (i) an adjusted term SOFR, or other applicable benchmark based on the currency of the borrowing, plus an interest rate margin determined on a sliding scale from 1.000% to 1.625% based on the Company’s credit rating (currently 1.250%) or (ii) a base rate plus a margin determined on a sliding scale from 0.000% to 0.625% based on the Company’s credit rating (currently 0.250%). Notes On March 9, 2021, the Company issued $600.0 million of aggregate principal amount of 1.350% unsecured notes due March 15, 2026 (“2026 Notes”) and $300.0 million of aggregate principal amount of 2.750% unsecured notes due March 15, 2031 (“2031 Notes”). Interest with respect to these notes is payable semi-annually in arrears on March 15 and September 15 of each year, beginning on September 15, 2021. The Company may redeem the 2031 Notes, in whole or in part, at any time prior to December 15, 2030, at the greater of par or a price based on the applicable treasury rate plus 25 basis points. The Company may redeem the 2026 Notes and the 2031 Notes at any time after February 15, 2026 and December 15, 2030, respectively, at a price equal to par, plus accrued interest. On November 25, 2019, the Company issued $500.0 million of aggregate principal amount of unsecured notes due January 10, 2025 (“2025 Notes”). The 2025 Notes matured and were repaid in January 2025 using cash proceeds from the Term Loan Facility borrowings. On June 21, 2010, the Company issued $250.0 million of aggregate principal amount of unsecured notes due June 21, 2040 (“2040 Notes”). Interest with respect to the 2040 Notes is payable semi-annually on June 21 and December 21 each year based on the fixed per annum rate of 6.200%. The Company may redeem the 2040 Notes at any time prior to maturity at the greater of par or a price based on the applicable treasury rate plus 30 basis points. On November 17, 2006, the Company issued $500.0 million of aggregate principal amount of unsecured notes due November 17, 2036 (“2036 Notes”). Interest with respect to the 2036 Notes is payable semi-annually on May 17 and November 17 each year based on the fixed per annum rate of 6.200%. The Company may redeem the 2036 Notes at any time prior to maturity at the greater of par or a price based on the applicable treasury rate plus 25 basis points. The Revolving Credit Facility, Term Loan Facility, and Delayed Draw Term Loan Facility contain covenants, subject to certain exceptions, that, among other things, limit or restrict the Company’s ability to sell or transfer assets or merge or consolidate with another company, grant certain types of security interests, incur certain types of liens, impose restrictions on subsidiary dividends, enter into sale and leaseback transactions, incur certain subsidiary level indebtedness, or use proceeds in violation of anti-corruption or anti-money laundering laws. The Company’s notes are subject to similar covenants except that only the 2036 Notes contain covenants limiting or restricting subsidiary indebtedness, and none of the Company’s notes are subject to a covenant that limits the Company’s ability to impose restrictions on subsidiary dividends. Under its Revolving Credit Facility, Term Loan Facility, and Delayed Draw Term Loan Facility, the Company is required to maintain compliance with a consolidated adjusted Earnings before Interest, Taxes, Depreciation and Amortization interest coverage ratio covenant of greater than 3:1 for each period of four consecutive fiscal quarters. Certain of the Company’s notes (including the 2026 Notes, 2031 Notes, and 2040 Notes) include a change of control triggering event provision, as defined in the terms of the notes. If a change of control triggering event occurs, holders of the notes may require the Company to repurchase some or all of their notes at a price equal to 101% of the principal amount of their notes, plus any accrued and unpaid interest. A change of control triggering event will occur when there is a change of control involving the Company and among other things, within a specified period in relation to the change of control, the notes are downgraded from an investment grade rating to below an investment grade rating by certain major credit rating agencies. In addition, the interest rates payable on the Company’s notes due in 2026 and 2031 can be impacted by the Company’s credit ratings. |
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Stock-Based Compensation Plans |
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| Share-Based Payment Arrangement [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stock-Based Compensation Plans | 15. Stock-Based Compensation PlansThe Western Union Company 2015 Long-Term Incentive Plan and 2024 Long-Term Incentive Plan The Western Union Company 2024 Long-Term Incentive Plan (“2024 LTIP”), approved on May 17, 2024, provides for the granting of stock options, restricted stock awards and units, unrestricted stock awards and units, and other equity-based awards. These awards may be granted to the Company's employees, non-employee directors, consultants, independent contractors, and agents by the Compensation and Benefits Committee of the Company’s Board of Directors (the “CBC”), in its sole discretion. Prior to this, equity-based awards were granted out of the 2015 Long-Term Incentive Plan (“2015 LTIP”). Shares available for grant under the 2024 LTIP were 22.2 million as of December 31, 2025. Stock options granted to employees are issued with exercise prices equal to the fair market value of Western Union common stock on the grant date, have 10-year terms, and typically over equal annual increments beginning one year after the grant date. Stock options granted to executive officers and certain other key employees generally vest on a prorated basis upon termination. Compensation expense related to stock options is recognized over the requisite service period, which is the same as the vesting period. Restricted stock units granted to employees typically vest on a graded basis over or four years in equal, annual increments, beginning one year after the grant date, or after grant date on a cliff basis. Restricted stock units granted to executive officers and employees terminated involuntarily and without cause vest on a prorated basis upon termination. Restricted stock units granted to certain retirement eligible employees who provide advance notice of retirement may vest fully upon termination. Restricted stock units granted in 2025 and 2024 to retirement eligible employees who do not provide advance notice of retirement may be forfeited upon termination, whereas 2023 awards may vest on a prorated basis upon termination. The fair value of restricted stock units is measured based on the Company’s stock price on the grant date. Restricted stock units accrue dividend equivalents, with dividend equivalents paid in cash to the extent that the underlying shares vest. Compensation expense related to restricted stock units is recognized over the requisite service period, which is the same as the vesting period. In 2025, 2024, and 2023, the CBC granted the CEO long-term incentive awards consisting of 60% Financial Performance Share Units (“PSUs”) with a total shareholder return (“TSR”) modifier (“Financial PSUs with a TSR modifier”), 20% stock option awards, and 20% restricted stock unit awards. In 2025 and 2024, the CBC granted the Company’s executive officers and certain other key employees, excluding the CEO, long-term incentive awards which consisted of a combination of: 1) Financial PSUs with a TSR modifier, restricted stock unit awards, and stock option awards, or 2) Financial PSUs with a TSR modifier and restricted stock unit awards. In 2023, the CBC granted these employees Financial PSUs with a TSR modifier and restricted stock unit awards. In 2025, 2024, and 2023, the CBC granted other executive management of the Company awards which consisted of 50% Financial PSUs with a TSR modifier and 50% restricted stock unit awards, and the CBC also granted certain other non-executive employees of the Company annual equity grants consisting of restricted stock unit awards over this same period. The performance-based restricted stock units granted to the Company’s executives in 2025, 2024 and 2023 are Financial PSUs with a TSR modifier. The financial metric requires the Company to meet certain financial objectives over three individual, annual performance periods. The market condition consists of a modifier tied to the Company’s total shareholder return in relation to the S&P MidCap 400 or S&P 500 Index as calculated over a three-year performance period. The PSUs discussed above will vest 100% on the third anniversary of the grant date, contingent upon threshold financial and market performance metrics being met. The actual number of performance-based restricted stock units that the recipients will receive for awards in 2025, 2024 and 2023 range from 0% up to 200% of the target number of stock units granted, contingent upon actual financial and total shareholder return performance results. The grant date fair value of all performance based restricted stock units is fixed, and the amount of restricted stock units that will ultimately vest depends upon the level of achievement of the performance and market conditions over the performance period. The fair value of the Financial PSUs with a TSR modifier is determined using the Monte-Carlo simulation model. Awards granted to executive officers and employees terminated involuntarily and without cause vest on a prorated basis upon termination. Financial PSUs with a TSR modifier granted to certain retirement eligible employees who provide advance notice of retirement may vest fully upon termination. Financial PSUs with a TSR modifier granted in 2025 and 2024 to retirement eligible employees who do not provide advance notice of retirement may be forfeited upon termination, whereas 2023 awards may vest on a prorated basis upon termination. Compensation expense related to PSUs is recognized over the requisite service period, which is the same as the vesting period. The Company has also granted restricted stock units and options to the non-employee directors of the Company. The fair value of these restricted stock units is measured based on the fair value of the shares on the grant date and may be settled upon vesting unless the participant elects to defer the receipt of common shares under the applicable plan rules. Options have 10-year terms and are issued with exercise prices equal to the fair market value of Western Union common stock on the grant date. Both of these awards vest one year after the grant date and on a prorated basis upon a qualifying departure. Compensation expense for these awards is recognized over the requisite service period, which is the same as the vesting period. Stock Option Activity A summary of stock option activity for the year ended December 31, 2025 was as follows (options and aggregate intrinsic value in millions):
There were no options exercised during the years ended December 31, 2025 and 2024. The Company received $0.2 million in cash proceeds related to the exercise of stock options during the year ended December 31, 2023. Upon the exercise of stock options, shares of common stock are issued from authorized common shares. The total tax benefits and total intrinsic value from the exercise of options were immaterial for the year ended December 31, 2023. Restricted Stock Activity A summary of activity for restricted stock units and performance-based restricted stock units for the year ended December 31, 2025 was as follows (units in millions):
Stock-Based Compensation Expense The following table sets forth the total impact on earnings for stock-based compensation expense recognized in the Consolidated Statements of Income resulting from stock options, restricted stock units, performance-based restricted stock units and deferred stock units for the years ended December 31, 2025, 2024, and 2023 (in millions, except per share data):
Compensation cost is recognized only for those options, awards, and units expected to vest, with forfeitures estimated at the date of grant and evaluated and adjusted periodically to reflect the Company’s historical experience and future expectations. Any change in the forfeiture assumption is accounted for as a change in estimate, with the cumulative effect of the change on periods previously reported being reflected in the consolidated financial statements of the period in which the change is made. As of December 31, 2025, there was $4.4 million of total unrecognized compensation cost, net of assumed forfeitures, related to non-vested stock options, which is expected to be recognized over a weighted-average period of 2.5 years, and there was $38.4 million of total unrecognized compensation cost, net of assumed forfeitures, related to non-vested restricted stock units and performance-based restricted stock units, which is expected to be recognized over a weighted-average period of 1.8 years. Fair Value Assumptions The Company used the following assumptions for the Black-Scholes option pricing model to determine the value of Western Union options granted for the years ended December 31, 2025, 2024, and 2023:
Risk-free interest rate - The risk-free rate for stock options granted was determined by using a United States Treasury rate for the period that coincided with the expected terms listed above. Expected dividend yield - The Company’s expected annual dividend yield was the calculation of the annualized Western Union dividend divided by an average Western Union stock price on each respective grant date. Expected volatility - For the Company’s executives and non-employee directors, the Company used a blend of implied and historical volatility, which was calculated using the market price of traded options on Western Union’s common stock and the historical volatility of Western Union stock. There were no options granted to non-executive employees in 2025, 2024, or 2023. Expected term - For 2025, 2024, and 2023, the expected term for the Company's executives and non-employee director grants was approximately seven years and eight years, respectively. The Company’s expected term for options was based upon, among other things, historical exercises, the vesting term of the Company’s options, and the options’ contractual term of 10 years. The assumptions used to calculate the fair value of options granted are evaluated and revised, as necessary, to reflect market conditions and the Company’s historical experience and future expectations. The calculated fair value is recognized as compensation cost in the Company’s consolidated financial statements over the requisite service period of the entire award. |
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Segments |
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| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segments | 16. SegmentsAs further described in Note 1, the Company has classified its business into the following : Consumer Money Transfer and Consumer Services. Operating segments are defined as components of an enterprise that engage in business activities, about which separate financial information is available that is evaluated regularly by the Company’s Chief Operating Decision Maker (“CODM”) in allocating resources and assessing performance. The Company's CODM is the . The CODM uses segment operating income or loss to assess performance, including by comparing the results of each segment with one another, and allocate resources to the segments. This measure includes all expenses necessary to operate the segment and enables the CODM to understand segment profitability based on prior resource allocation decisions. This measure also excludes certain expenses such as exit costs, other severance, and operating expense redeployment activities which may be driven by corporate initiatives or could result in a lack of comparability if included in segment operating income. The Consumer Money Transfer operating segment facilitates money transfers between two consumers. The segment includes five geographic regions whose functions are primarily related to generating, managing, and maintaining agent relationships and localized marketing activities. The Company includes Branded Digital transactions in its regions. By means of common processes and systems, these regions, including Branded Digital, create one interconnected global network for consumer transactions, thereby constituting one Consumer Money Transfer business and one operating segment. The Consumer Services segment primarily includes the Company’s bill payment services, money order services, travel money services, check acceptance services, media network, prepaid cards, lending partnerships, and digital wallets. On August 4, 2021, the Company entered into an agreement to sell its Business Solutions business, and the final closing for this transaction occurred on July 1, 2023. Accordingly, the Company no longer reports Business Solutions revenues and operating expenses after July 1, 2023. The Company’s segments are reviewed separately below because each segment addresses a different combination of customer groups, distribution networks, and services offered. The business segment measurements provided to, and evaluated by, the Company’s CODM are computed in accordance with the following principles: • The accounting policies of the segments are the same as those described in the summary of significant accounting policies. • Corporate costs, including overhead expenses, are allocated to the segments primarily based on a percentage of the segments’ revenue compared to total revenue. • The CODM does not review total assets by segment and capital expenditures for purposes of assessing segment performance and allocating resources. As such, the disclosure of total assets by segment and capital expenditures have not been included below. • All items not included in operating income are excluded from the segments. The following tables present the Company’s segment results for the years ended December 31, 2025, 2024, and 2023 (in millions):
(a) Direct transactional expenses include commissions to agents, bank fees, credit and non-credit losses, and other variable expenses. (b) Depreciation and amortization excludes amortization of capitalized contract costs paid to agents and partners, as this amortization is recorded as commissions to agents and partners and is therefore included in direct transactional expenses. Amortization of capitalized contract costs included within direct transactional expenses in the Consumer Money Transfer segment was $44.3 million, $62.8 million, and $76.4 million for the years ended December 31, 2025, 2024, and 2023, respectively. (c) Other segment items primarily consists of salaries and benefits, professional services, equipment and software expenses, advertising costs, and lease and facilities costs. (d) Represents severance costs not related to acquisition, separation, and integration activities, which have been excluded from the segments as the CODM excludes severance in making operating decisions, including allocating resources to the Company's segments. Prior to the fourth quarter of 2024, these severance costs were included in the redeployment program costs line item, and therefore, severance costs have been consistently excluded from segment operating income in the tables above. (e) Represents the impact from expenses incurred in connection with the Company's acquisition and divestiture activity, including for the review and closing of these transactions, and integration costs directly related to the Company’s acquisitions, such as severance and consulting costs. Beginning in 2024, the Company changed its segment reporting methodology to no longer allocate these costs to its segments. These costs were previously allocated entirely to Consumer Services while it was called Other, and the amount included in the Consumer Services segment was immaterial for the year ended December 31, 2023. (f) Represents the non-cash amortization and impairment of acquired intangible assets in connection with recent business acquisitions. (g) Where indicated, represents asset impairments related to the Company's assets in Russia and the costs associated with operating the Russian entity. While the Company had previously made a decision to suspend its operations in Russia, in the third quarter of 2024, the Company decided to pursue either liquidating or selling the Russian assets, which triggered a review of the carrying value of the assets. During 2025, the Company signed a definitive sale agreement, as amended, which is subject to regulatory approvals. (h) Represented severance, expenses associated with streamlining the Company's organizational and legal structure, and other expenses associated with the Company's program which redeployed investment and expenses in the Company's cost base through optimizations in vendor management, real estate, marketing, and people strategy, as previously announced in October 2022. Expenses incurred under the program also included non-cash impairments of operating lease ROU assets and property and equipment. (i) On August 4, 2021, the Company entered into an agreement to sell its Business Solutions business. The sale was completed with the final closing on July 1, 2023.
For all of the items excluded from the Company’s segment operating income results above, the expenses were not included in the measurement of segment operating income provided to the CODM for purposes of performance assessment and resource allocation. The geographic split of revenue below is based upon the country where the transaction is initiated with 100% of the revenue allocated to that country. Long-lived assets, consisting of property and equipment, net, are presented based upon the location of the assets. Based on the method used to attribute revenue between countries described in the paragraph above, each individual country outside the United States accounted for less than 10% of consolidated revenue for the years ended December 31, 2025, 2024, and 2023, respectively. In addition, each individual agent or customer accounted for less than 10% of consolidated revenue during these periods. Information concerning principal geographic areas for Revenue was as follows (in millions):
Information concerning principal geographic areas for long-lived assets, including ROU assets, was as follows (in millions):
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Schedule I - Condensed Financial Information of the Registrant |
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| Condensed Financial Information Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule I - Condensed Financial Information of the Registrant | SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF THE REGISTRANT The following lists the condensed financial information for the parent company as of December 31, 2025 and 2024 and Condensed Statements of Income and Comprehensive Income and Condensed Statements of Cash Flows for each of the three years in the period ended December 31, 2025. THE WESTERN UNION COMPANY CONDENSED BALANCE SHEETS (PARENT COMPANY ONLY) (in millions, except per share amounts)
See Notes to Condensed Financial Statements. THE WESTERN UNION COMPANY CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (PARENT COMPANY ONLY) (in millions)
See Notes to Condensed Financial Statements.
THE WESTERN UNION COMPANY CONDENSED STATEMENTS OF CASH FLOWS (PARENT COMPANY
CONDENSED FINANCIAL INFORMATION OF THE REGISTRANT THE WESTERN UNION COMPANY NOTES TO CONDENSED FINANCIAL STATEMENTS 1. Basis of Presentation The Western Union Company (the “Parent”) is a holding company that conducts substantially all of its business operations through its subsidiaries. Under a parent company only presentation, the Parent’s investments in its consolidated subsidiaries are presented under the equity method of accounting, and the condensed financial statements do not present the financial statements of the Parent and its subsidiaries on a consolidated basis. These financial statements should be read in conjunction with The Western Union Company’s consolidated financial statements. 2. Restricted Net AssetsCertain assets of the Parent’s subsidiaries totaling approximately $320 million as of December 31, 2025 constitute restricted net assets, as there are legal or regulatory limitations on transferring such assets outside of the countries where the respective assets are located, or certain of the Parent’s subsidiaries must meet minimum capital requirements in order to maintain operating licenses. 3. Related Party TransactionsThe Parent enters into contracts with third-party vendors on behalf of its subsidiaries. Because the Parent is a holding company, as noted above, these corporate costs are incurred by the Parent, and the expenses are then allocated to its subsidiaries based primarily on the subsidiaries’ percentage of revenues compared to total revenues. All transactions described below are with subsidiaries of the Parent. The Parent has issued multiple promissory notes payable to its 100% owned subsidiary, First Financial Management Corporation, in exchange for funds distributed to the Parent. All notes pay interest at a fixed rate, may be repaid at any time without penalty, and are included within Payable to subsidiaries, net in the Condensed Balance Sheets. These promissory notes are as follows:
(a) This note refinanced a note originally issued on a prior date. The Parent files its United States federal consolidated income tax return and also a number of consolidated state income tax returns on its and certain of its affiliates’ behalf. In these circumstances, the Parent is responsible for remitting income tax payments on behalf of the consolidated group. The Parent’s provision for income taxes has been computed as if it were a separate tax-paying entity. Accordingly, the Parent has recorded income taxes payable on behalf of certain of its subsidiaries. Excess cash generated from operations of the Parent’s subsidiaries that is not required to meet certain regulatory requirements may be periodically distributed to the Parent in the form of a distribution, although the amounts of such distributions may vary from year to year. CONDENSED FINANCIAL INFORMATION OF THE REGISTRANT THE WESTERN UNION COMPANY NOTES TO CONDENSED FINANCIAL STATEMENTS (Continued)
4. Divestiture On August 4, 2021, the Parent entered into an agreement to sell its Business Solutions business to Goldfinch Partners LLC and The Baupost Group LLC for cash consideration of $910.0 million. The sale was completed in three closings, with the entire cash consideration collected at the first closing and allocated to the closings on a relative fair value basis. The final closing occurred on July 1, 2023 and included the European Union operations. The gain on the sale from each closing was recognized by the Parent’s subsidiaries, and portions of the proceeds payable to the Parent’s subsidiaries were settled by means of non-cash distributions by those subsidiaries. 5. Commitments, Contingencies, and GuaranteesThe Parent had approximately $120 million in outstanding letters of credit and bank guarantees as of December 31, 2025 primarily held in connection with regulatory requirements, certain agent agreements, and the Parent’s guarantees of its subsidiaries’ performance under these letters of credit and bank guarantees. The Parent has provided guarantee to an underwriter of surety bonds, payable in the event the Parent’s subsidiaries default on their obligations, in the amount of $295 million. 6. Leases The Parent leases real properties primarily for use as administrative and sales offices, in addition to transportation and other equipment. The Parent determines if a contract contains a lease arrangement at the inception of the contract. For leases in which the Parent is the lessee, leases are classified as either finance or operating, with classification affecting the pattern of expense recognition. Operating lease ROU assets are initially measured at the present value of lease payments over the lease term plus initial direct costs, if any. If a lease does not provide a discount rate and the rate cannot be readily determined, an incremental borrowing rate is used to determine the present value of future lease payments. Lease and variable non-lease components within the Parent’s lease agreements are accounted for separately. The Parent has no material leases in which the Parent is the lessor. The Parent’s leasing arrangements are classified as operating leases, for which expense is recognized on a straight-line basis. As of December 31, 2025 and 2024, the total ROU assets were $40.2 million and $45.8 million, respectively, and lease liabilities were $62.8 million and $73.4 million, respectively. The ROU assets and operating lease liabilities were included in and , respectively, in the Parent’s Condensed Balance Sheets. Cash paid for operating lease liabilities is recorded as Cash flows from operating activities in the Parent’s Condensed Statements of Cash Flows. Short-term and variable lease costs were not material for the years ended December 31, 2025, 2024, and 2023. The Parent’s leases have remaining terms from 1 year to nearly 6 years. Certain of these leases contain escalation provisions and/or renewal options, giving the Parent the right to extend the lease by up to 10 years. However, these options are not reflected in the calculation of the ROU asset and lease liability due to uncertainty surrounding the likelihood of renewal. CONDENSED FINANCIAL INFORMATION OF THE REGISTRANT THE WESTERN UNION COMPANY NOTES TO CONDENSED FINANCIAL STATEMENTS (Continued)
The following table summarizes the weighted-average lease term and discount rate for operating lease liabilities as of December 31, 2025 and 2024:
The following table represents maturities of operating lease liabilities as of December 31, 2025 (in millions):
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Summary of Significant Accounting Policies (Policies) |
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| Accounting Policies [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Basis of Presentation | Basis of Presentation The financial statements in this Annual Report on Form 10‑K are presented on a consolidated basis and include the accounts of the Company and its majority-owned subsidiaries. All significant intercompany transactions and accounts have been eliminated. Consistent with industry practice, the accompanying Consolidated Balance Sheets are unclassified due to the short-term nature of the Company’s settlement obligations contrasted with the Company’s ability to invest cash awaiting to pay settlement obligations in long-term investment securities. |
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| Use of Estimates | Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from these estimates. |
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| Principles of Consolidation | Principles of Consolidation The Company consolidates financial results when it has a controlling financial interest in a subsidiary via voting rights or when it has both the power to direct the activities of an entity that most significantly impact the entity’s economic performance and the ability to absorb losses or the right to receive benefits of the entity that could potentially be significant to the entity. The Company utilizes the equity method of accounting when it is able to exercise significant influence over an entity’s operations, which generally occurs when the Company has an ownership interest between 20% and 50%. |
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| Earnings Per Share | Earnings Per Share 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 15.3 million, 11.6 million, and 9.7 million for the years ended December 31, 2025, 2024, and 2023, 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):
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| Fair Value Measurements | Fair Value Measurements The Company determines the fair values of its assets and liabilities that are recognized or disclosed at fair value in accordance with the hierarchy described below. The following three levels of inputs may be used to measure fair value: • Level 1 - Quoted prices in active markets for identical assets or liabilities. • Level 2 - Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. For most of these assets, the Company utilizes pricing services that use multiple prices as inputs to determine daily market values. • Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include items where the determination of fair value requires significant management judgment or estimation. The Company holds assets classified as Level 3 that are recognized and disclosed at fair value on a non-recurring basis related to the Company’s business combinations, where the values of the intangible assets and goodwill acquired in a purchase are derived utilizing one of the three recognized approaches: the market approach, the income approach, or the cost approach.
Carrying amounts for many of the Company’s financial instruments, including cash and cash equivalents, settlement cash and cash equivalents, and settlement receivables and settlement obligations approximate fair value due to their short maturities. Available-for-sale investment securities, as further discussed in Notes 7 and 8, and derivative financial instruments, as further discussed in Notes 8 and 13, are carried at fair value. Fixed-rate notes are carried at their original issuance values and adjusted over time to amortize or accrete that value to par. The fair values of fixed-rate notes are disclosed in Note 8 and are based on market quotations. |
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| Business Combinations | Business Combinations The Company accounts for all business combinations where control over another entity is obtained using the acquisition method of accounting, which requires that most assets (both tangible and intangible), liabilities (including contingent consideration), and remaining noncontrolling interests be recognized at fair value at the date of acquisition. The excess of the purchase price over the fair value of assets less liabilities and noncontrolling interests is recognized as goodwill. Certain adjustments to the assessed fair values of the assets, liabilities, or noncontrolling interests made subsequent to the acquisition date, but within the measurement period, which is one year or less, are recorded as adjustments to goodwill. Any adjustments subsequent to the measurement period are recorded within Net income. Any equity interest the Company holds in the acquired company prior to obtaining control of the entity is remeasured to fair value at acquisition with a resulting gain or loss recognized within Other income, net for the difference between fair value and existing book value. Results of operations of the acquired company are included in the Company’s results from the date of the acquisition forward and include amortization expense arising from acquired intangible assets. The Company expenses all costs as incurred related to or involved with an acquisition in Selling, general, and administrative expenses. |
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| Cash and Cash Equivalents | Cash and Cash Equivalents Highly liquid investments (other than those included in settlement assets) with maturities of three months or less at the date of purchase (that are readily convertible to cash) are considered cash equivalents and are stated at cost, which approximates fair value. The Company maintains cash and cash equivalent balances, which may include a portion in money market funds, with a group of globally diversified banks and financial institutions. The Company limits the concentration of its cash and cash equivalents with any one institution and regularly reviews investment concentrations and credit worthiness of these institutions. |
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| Allowance for Credit Losses | Allowance for Credit Losses For the Company’s accounting policies with respect to the allowance for credit losses, refer to Note 7. The Company establishes and monitors an allowance for credit losses related to receivables from agents and others. The Company has estimated the allowance based on its historical collections experience, adjusted for current conditions and forecasts of future economic conditions based on information known as of December 31, 2025. In addition, from time to time, the Company makes advances to its agents and disbursement partners. The Company often owes settlement funds payable to these agents that offset these advances. These amounts advanced to agents and disbursement partners are included within Other assets in the accompanying Consolidated Balance Sheets. |
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| Settlement Assets and Obligations | Settlement Assets and Obligations Settlement assets represent funds received or to be received from agents and others for unsettled money transfers, money orders, and consumer payments. The Company records corresponding settlement obligations relating to amounts payable under money transfers, money orders, and consumer payment service arrangements. Settlement assets consist of cash and cash equivalents, receivables from agents and others, and investment securities. Cash received by Western Union agents generally becomes available to the Company within one week after initial receipt by the agent. Cash equivalents consist of short-term time deposits, commercial paper, and other highly liquid investments. Receivables from agents represent funds collected by such agents, but in transit to the Company. Western Union has a large and diverse agent base, thereby reducing the Company’s credit risk from any one agent. The Company performs ongoing credit evaluations of its agents’ financial condition and credit worthiness. Settlement obligations consist of money transfer, money order, and payment service payables, and payables to agents. Money transfer payables represent amounts to be paid to transferees when they request their funds. Most agents typically settle with transferees first and then obtain reimbursement from the Company. Money order payables represent amounts not yet presented for payment. Payment service payables represent amounts to be paid to utility companies, auto finance companies, mortgage servicers, financial service providers, government agencies, and others. Payables to agents represent amounts due to agents for money transfers that have been settled with transferees. Refer to Note 7 for additional details on the Company’s settlement assets and obligations. |
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| Property and Equipment | Property and Equipment Property and equipment are stated at cost. Depreciation is computed using the straight-line method over the lesser of the estimated life of the related assets (generally to seven years for equipment and furniture and fixtures) or the lease term. Maintenance and repairs, which do not extend the useful life of the respective assets, are charged to expense as incurred. Property and equipment consisted of the following (in millions):
Amounts charged to expense for depreciation of property and equipment were $35.2 million, $37.4 million, and $39.1 million during the years ended December 31, 2025, 2024, and 2023, respectively. |
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| Goodwill | Goodwill Goodwill represents the excess of purchase price over the fair value of tangible and other intangible assets acquired less liabilities assumed, arising from business combinations. In the event a reporting unit’s carrying amount exceeds its fair value, the Company recognizes an impairment charge for the amount by which the carrying amount of the reporting unit exceeds its fair value. The Company’s annual impairment assessment did not identify any goodwill impairment during the years ended December 31, 2025, 2024, and 2023. |
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| Other Intangible Assets | Other Intangible Assets Other intangible assets primarily consist of software, contract costs (amounts paid to agents in connection with establishing and renewing long-term contracts), and acquired contracts. Other intangible assets are generally amortized on a straight-line basis over the length of the contract or benefit period. Included in the Consolidated Statements of Income is amortization expense of $130.2 million, $141.7 million, and $144.5 million for the years ended December 31, 2025, 2024, and 2023, respectively. The Company purchases and develops software that is used in providing services and in performing administrative functions. For developed software, the Company capitalizes the eligible costs (predominantly detailed design, development, and testing) incurred during the application development stage, and all other costs are expensed as incurred. Once the software is ready for its intended use, software development costs and purchased software are generally amortized over a term of to seven years. The Company capitalizes initial payments for new and renewed agent contracts to the extent recoverable through future operations or penalties in the case of early termination. The Company’s accounting policy is to limit the amount of capitalized costs for a given contract to the lesser of the estimated future cash flows from the contract or the termination fees the Company would receive in the event of early termination of the contract. Capitalized contract costs are generally amortized over a term of to ten years. Acquired contracts include customer and contractual relationships and networks of subagents that are recognized in connection with the Company’s acquisitions. The following table provides the components of other intangible assets (in millions):
The estimated future aggregate amortization expense for existing other intangible assets as of December 31, 2025 is expected to be $153.3 million in 2026, $84.6 million in 2027, $32.1 million in 2028, $15.8 million in 2029, $13.2 million in 2030, and $21.1 million thereafter. Other intangible assets are reviewed for impairment on an annual basis or whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. In such reviews, estimated undiscounted cash flows associated with these assets or operations are compared with their carrying values to determine if a write-down to fair value (normally measured by the present value technique) is required. The Company recorded immaterial impairments related to other intangible assets during the years ended December 31, 2025 and 2024 and approximately $9 million of related to other intangible assets during the year ended December 31, 2023. |
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| Other Investments | Other Investments Other investments consist of equity investments in privately-held companies that do not have readily determinable fair values. For these investments, the Company has less than a 20% interest and does not have control or significant influence. The Company has elected to measure these investments at cost less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment in the same issuer. These investments are reflected in Other assets in the Consolidated Balance Sheets as of December 31, 2025 and 2024. The Company has not recorded any material annual or cumulative impairment losses or valuation adjustments based on observable price changes. |
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| Revenue Recognition | Revenue Recognition For the Company’s accounting policies with respect to revenue recognition, refer to Note 3. The Company’s revenues are primarily derived from consideration paid by customers to transfer money. These revenues vary by transaction based upon factors such as channel, send and receive locations, the send and receive funding method, the principal amount sent, and, when the money transfer involves different send and receive currencies, the difference between the exchange rate set by the Company to the customer and a rate available in the wholesale foreign exchange market. The Company also offers other services, including bill payment services, for which revenue is impacted by similar factors. For the substantial majority of the Company’s revenues, the Company acts as the principal in transactions and reports revenue on a gross basis, as the Company controls the service at all times prior to transfer to the customer, is primarily responsible for fulfilling the customer contracts, has the risk of loss, and has the ability to establish transaction prices. The Company also provides services to financial institutions and other third parties to enable such entities to offer money transfer services to their own customers under their brands. Generally, in these arrangements, consumers agree to terms and conditions specified by the financial institution or other third party that, among other things, establish pricing paid by the consumer for the service. The Company recognizes revenue on a net basis under these arrangements. Revenue is recognized net of any taxes collected from customers, which are subsequently remitted to governmental authorities. |
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| Cost of Services | Cost of Services Cost of services primarily consists of agent commissions and expenses for call centers, settlement operations, and related information technology costs. Expenses within these functions include personnel, software, equipment, bank fees, credit losses, depreciation, amortization, and other expenses incurred in connection with providing money transfer and other payment services. |
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| Advertising Costs | Advertising Costs Advertising costs are charged to operating expenses as incurred. Advertising costs for the year ended December 31, 2025 were approximately 3% of revenues, and for the years ended December 31, 2024 and 2023 were approximately 4% of revenues in each period. |
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| Income Taxes | Income Taxes The Company accounts for income taxes under the liability method, which requires that deferred tax assets and liabilities be determined based on the expected future income tax consequences of events that have been recognized in the consolidated financial statements. Deferred tax assets and liabilities are recognized based on temporary differences between the financial statement carrying amounts and tax bases of assets and liabilities using enacted tax rates in effect in the years in which the temporary differences are expected to reverse. The Company routinely assesses the realizability of its deferred tax assets. A valuation allowance must be established when, based upon available evidence, it is more likely than not that all or a portion of the deferred tax assets will not be realized. The Company recognizes the tax benefits from uncertain tax positions only when it is more likely than not, based on the technical merits of the position, that the tax position will be sustained upon examination, including the resolution of any related appeals or litigation. The tax benefits recognized in the consolidated financial statements from such a position are measured as the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate resolution. The Company accounts for the effects of global intangible low-taxed income taxed in the United States as a component of income tax expense in the period the tax arises. |
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| Foreign Currency Translation | Foreign Currency Translation The United States dollar is the functional currency for substantially all of the Company’s businesses. Revenues and expenses are generally translated at average exchange rates prevailing during the period. Foreign currency denominated assets and liabilities for those businesses for which the local currency is the functional currency are translated into United States dollars based on exchange rates at the end of the year. The effects of foreign exchange gains and losses arising from the translation of assets and liabilities of these businesses are included as a component of accumulated other comprehensive loss (“AOCL”) in the accompanying Consolidated Balance Sheets. Foreign currency denominated monetary assets and liabilities of businesses for which the United States dollar is the functional currency are remeasured based on exchange rates at the end of the period, and the resulting remeasurement gains and losses are recognized in net income. Non-monetary assets and liabilities of these operations are remeasured at historical rates in effect when the asset was recognized or the liability was incurred. The Company has bill payment and other businesses in Argentina for which the local currency is the functional currency. However, as Argentina has been classified as a highly inflationary economy, all changes in the value of the Argentine peso on these businesses’ monetary assets and liabilities are reflected in net income. |
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| Derivatives | Derivatives The Company has used derivatives to minimize its exposures related to changes in foreign currency exchange rates and, periodically, interest rates. The Company recognizes all derivatives in the accompanying Consolidated Balance Sheets at their fair value. All cash flows associated with derivatives are included in Cash flows from operating activities in the Consolidated Statements of Cash Flows. Certain of the Company’s derivative arrangements are designated as cash flow hedges at the time of inception, and others are not designated as accounting hedges. • Cash flow hedges – Cash flow hedges consist of foreign currency hedging of forecasted revenues, as well as hedges of the forecasted issuance of fixed-rate debt. Derivative fair value changes that are captured in AOCL are reclassified to earnings in the same period the hedged item affects earnings when the instrument is effective in offsetting the change in cash flows attributable to the risk being hedged. The Company excludes time value from the assessment of effectiveness, and the initial value of the excluded components in the Company’s foreign currency cash flow hedges is amortized into Revenues within the Consolidated Statements of Income. • Undesignated - Derivative contracts entered into to reduce the foreign exchange variability related to: (i) money transfer settlement assets and obligations, generally with maturities from a few days up to one month, and (ii) certain foreign currency denominated cash and other asset and liability positions, typically with maturities of less than one year at inception, are not designated as hedges for accounting purposes, and changes in their fair value are included in Selling, general, and administrative. The fair value of the Company’s derivatives is derived from standardized models that use market-based inputs (e.g., forward prices for foreign currency). The details of each designated hedging relationship must be formally documented at the inception of the arrangement, including the risk management objective, hedging strategy, hedged item, specific risks being hedged, the derivative instrument, and how effectiveness is being assessed. The derivative must be highly effective in offsetting the changes in cash flows of the hedged item, and effectiveness is evaluated quarterly on a retrospective and prospective basis. |
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| Legal Contingencies | Legal Contingencies The Company is a party to certain legal and regulatory proceedings with respect to a variety of matters. The Company records an accrual for these contingencies to the extent that a loss is both probable and reasonably estimable. If some amount within a range of loss is determined to be a better estimate than other amounts within the range, that amount is accrued. When no amount within a range of loss is determined to be a better estimate than any other amount, the lowest amount in the range is accrued. |
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| Stock-Based Compensation | Stock-Based Compensation The Company has a stock-based compensation plan that provides for grants of Western Union stock options, restricted stock awards, restricted stock units, and deferred stock units to employees and non-employee directors of the Company. All stock-based compensation to employees is required to be measured at fair value and expensed over the requisite service period. The Company generally recognizes compensation expense on awards on a straight-line basis over the requisite service period with an estimate for forfeitures. Refer to Note 15 for additional discussion regarding details of the Company’s stock-based compensation plans. |
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| Severance and Other Related Expenses | Severance and Other Related Expenses The Company records severance-related expenses once they are both probable and estimable in accordance with the provisions of the applicable accounting guidance for severance provided under an ongoing benefit arrangement. One-time involuntary benefit arrangements and other costs are generally recognized when the liability is incurred. The Company also evaluates impairment issues associated with restructuring and other activities when the carrying amount of the related assets may not be fully recoverable, in accordance with the appropriate accounting guidance. |
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| Accounting Pronouncements Not Yet Adopted | In , the Company adopted a new accounting standard that requires the Company to disclose more consistent and detailed categories in its statutory to effective income tax rate reconciliations and further disaggregate income taxes paid by jurisdiction, on a prospective basis. The adoption of this standard did not have an impact on the Company’s financial position or results of operations. Refer to Note 10 for additional information and the related disclosures. In , the Company adopted a new accounting standard that requires the Company to expand reportable segment disclosures, primarily through enhanced disclosures about significant segment expenses. The adoption of this standard did not have an impact on the Company's financial position or results of operations. Refer to Note 16 for additional information and the related disclosures. Accounting Pronouncements Not Yet Adopted In November 2024, the Financial Accounting Standards Board (“FASB”) issued a new accounting pronouncement regarding the disclosure of specified information about certain costs and expenses. The standard requires that public entities disclose certain detailed information about the types of expenses included in the expense captions presented within the Consolidated Statements of Income, provide qualitative descriptions for expenses not separately disaggregated quantitatively, and disclose an entity's definition and total amount of selling expenses. The Company is required to adopt the new standard for its 2027 annual reporting and interim periods thereafter, using either a prospective or retrospective approach. Management is currently evaluating the potential impact that the adoption of this standard will have on the Company's disclosures. In September 2025, the FASB issued a new accounting pronouncement regarding accounting for internal-use software costs. The standard requires that entities capitalize software costs when both management has authorized and is committed to funding the software project, and it is probable that the project will be completed and the software will be used to perform the function intended, referred to as the “probable-to-complete recognition threshold.” In evaluating the probable-to-complete recognition threshold, all entities that account for internal-use software costs under GAAP are required to consider whether there is significant uncertainty associated with the software development activities. The Company is required to adopt the new standard for annual and interim periods beginning after December 15, 2027. Management is currently evaluating the potential impact that the adoption of this standard will have on the Company's financial position, results of operations, and disclosures. |
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| Investment Securities | Investment Securities Investment securities included in Settlement assets in the Company’s Consolidated Balance Sheets consist primarily of highly-rated state and municipal debt securities, including fixed-rate term notes. Investment securities are exposed to market risk due to changes in interest rates and credit risk. The Company is required to hold highly-rated, investment grade securities, and such investments are restricted to satisfy outstanding settlement obligations in accordance with applicable regulatory requirements. The Company’s investment securities are classified as available-for-sale and recorded at fair value. Western Union regularly monitors credit risk and attempts to mitigate its exposure by investing in highly-rated securities and through investment diversification. Unrealized gains on available-for-sale securities are excluded from earnings and presented as a component of accumulated other comprehensive loss, net of related deferred taxes. Available-for-sale securities with a fair value below the amortized cost basis are evaluated on an individual basis to determine whether the impairment is due to credit-related factors or noncredit-related factors. Factors that could indicate a credit loss exists include but are not limited to: (i) negative earnings performance, (ii) credit rating downgrades, or (iii) adverse changes in the regulatory or economic environment of the asset. Any impairment that is not credit-related is excluded from earnings and presented as a component of accumulated other comprehensive loss, net of related deferred taxes, unless the Company intends to sell the impaired security, or it is more likely than not that the Company will be required to sell the security before recovering its amortized cost basis. Credit-related impairments are recognized immediately as an adjustment to earnings, regardless of whether the Company has the ability or intent to hold the security to maturity, and are limited to the difference between fair value and the amortized cost basis. |
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| Foreign Currency - Derivatives | Foreign Currency Derivatives The Company’s policy is to use longer duration foreign currency forward contracts, with maturities of up to 36 months at inception and a targeted weighted-average maturity of to two years, to help mitigate some of the risk that changes in foreign currency exchange rates compared to the United States dollar could have on forecasted revenues denominated in other currencies related to its business. As of December 31, 2025, these foreign currency forward contracts had maturities of a maximum of 36 months with a weighted-average maturity of approximately one year. These contracts are accounted for as cash flow hedges of forecasted revenue, with effectiveness assessed based on changes in the spot rate of the affected currencies during the period of designation and thus time value is excluded from the assessment of effectiveness. The initial value of the excluded components is amortized into Revenues within the Company’s Consolidated Statements of Income. The Company also uses short duration foreign currency forward contracts, generally with maturities ranging from a to one month, to offset foreign exchange rate fluctuations on settlement assets and obligations between initiation and settlement. In addition, forward contracts, typically with maturities of less than one year at inception, are utilized to offset foreign exchange rate fluctuations on certain foreign currency denominated cash and other asset and liability positions. None of these contracts are designated as accounting hedges. |
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| Foreign Currency - Business Solutions | Business Solutions Operations Prior to the final closing of the Business Solutions sale in 2023, the derivatives written related to this business were part of the broader portfolio of foreign currency positions arising from the Company’s cross-currency payments operations, which primarily included spot exchanges of currency in addition to forwards and options. Foreign exchange revenue from the total portfolio of positions included in Revenues in the Company’s Consolidated Statements of Income was $27.8 million for the year ended December 31, 2023. None of the derivative contracts used in Business Solutions operations were designated as accounting hedges. |
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| Segments | The Company’s segments are reviewed separately below because each segment addresses a different combination of customer groups, distribution networks, and services offered. The business segment measurements provided to, and evaluated by, the Company’s CODM are computed in accordance with the following principles: • The accounting policies of the segments are the same as those described in the summary of significant accounting policies. • Corporate costs, including overhead expenses, are allocated to the segments primarily based on a percentage of the segments’ revenue compared to total revenue. • The CODM does not review total assets by segment and capital expenditures for purposes of assessing segment performance and allocating resources. As such, the disclosure of total assets by segment and capital expenditures have not been included below. •
All items not included in operating income are excluded from the segments. |
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Summary of Significant Accounting Policies (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounting Policies [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Diluted Weighted-average Shares Outstanding | The following table provides the calculation of diluted weighted-average shares outstanding (in millions):
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| Schedule of Property and Equipment | Property and equipment consisted of the following (in millions):
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| Schedule of Components of Other Intangible Assets | The following table provides the components of other intangible assets (in millions):
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Revenue (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Revenue from Contract with Customer [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Disaggregation of Revenue Earned from Contracts with Customers | The substantial majority of the Company’s revenue is recognized at a point in time. The following tables represent the disaggregation of revenue earned from contracts with customers by product type and region for the years ended December 31, 2025, 2024, and 2023 (in millions). The regional split of revenue shown in the tables below is based upon where transactions are initiated.
(a) Includes revenue from investment income generated on settlement assets primarily related to money transfer and money order services, impacts from the Company’s foreign currency cash flow hedges, and other sources. (b)
On August 4, 2021, the Company entered into an agreement to sell its Business Solutions business to Goldfinch Partners LLC and The Baupost Group LLC. The final closing occurred on July 1, 2023. See Note 4 for further information regarding this transaction. |
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Acquisitions, Divestitures, and Goodwill (Tables) |
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Acquisitions, Divestitures, and Goodwill [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Changes to Goodwill | The following table presents changes to goodwill for the years ended December 31, 2025 and 2024:
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Settlement Assets and Obligations (Tables) |
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Settlement Assets and Obligations | Settlement assets and obligations consisted of the following (in millions):
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| Summary of Activity in the Allowance for Credit Losses | The following tables summarize the activity in the allowance for credit losses on receivables from agents and others, and Business Solutions customers (in millions):
(a)
Provision does not include losses from chargebacks or fraud associated with transactions initiated through the Company’s digital channels, as these losses are not credit-related. |
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| Components of Investment Securities | The components of investment securities are as follows (in millions):
(a)
The majority of these securities are fixed-rate instruments. |
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| Contractual Maturities of Debt Securities | The following summarizes the contractual maturities of available-for-sale securities within Settlement assets as of December 31, 2025 (in millions):
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Fair Value Measurements (Tables) |
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Assets and Liabilities Measured at Fair Value on Recurring Basis | 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):
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Other Assets and Other Liabilities (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other Assets and Other Liabilities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Components of Other Assets and Other Liabilities | The following table summarizes the components of Other assets and Other liabilities (in millions):
(a)
Represents equity investments without readily determinable fair values recorded at cost less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment in the same issuer. |
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Income Taxes (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Tax Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Components of Pre-Tax Income | The components of pre-tax income, generally based on the jurisdiction of the legal entity, were as follows (in millions):
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| Schedule of Effective Tax Rates Differed from Statutory Rates | For the year ended December 31, 2025, the Company’s effective tax rates differed from statutory rates as follows (in millions):
(a) State taxes in Colorado, Pennsylvania, and South Carolina made up the majority of the tax effect in this category. For the years ended December 31, 2024, and 2023, the Company’s effective tax rates differed from statutory rates as follows (in millions):
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| Components of Provision for/(Benefit from) Income Taxes | The Company’s provision for/(benefit from) income taxes consisted of the following components (in millions):
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| Components of Income Taxes Paid | For the year ended December 31, 2025, the components of income taxes paid was as follows (in millions):
(a)
The amount of income taxes paid during the year in any individual jurisdiction did not exceed 5% of total income taxes paid. |
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| Principal Components of Deferred Tax Items | Deferred tax assets and liabilities are recognized for the expected tax consequences of temporary differences between the book and tax bases of the Company’s assets and liabilities. The following table outlines the principal components of deferred tax items (in millions):
(a)
As of December 31, 2025 and 2024, deferred tax assets that cannot be fully offset by deferred tax liabilities in the respective tax jurisdictions were $226.2 million and $265.0 million, respectively. |
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| Reconciliation of Beginning and Ending of Unrecognized Tax Benefits | Unrecognized tax benefits represent the aggregate tax effect of differences between tax return positions and the amounts otherwise recognized in the Company’s consolidated financial statements and are reflected in Income taxes payable in the Consolidated Balance Sheets. A reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding interest and penalties and before offset of related items, is as follows (in millions):
(a)
Includes recurring accruals for issues which initially arose in previous periods. |
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Leases (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Weighted Average Lease Terms and Discount Rates | The following table summarizes the weighted-average lease terms and discount rates for operating lease liabilities:
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| Schedule of Maturities of Operating Lease Liabilities | The following table represents maturities of operating lease liabilities as of December 31, 2025 (in millions):
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Stockholders' Equity (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Amounts Reclassified from AOCL | The following table details reclassifications out of AOCL and into Net income. All amounts reclassified from AOCL affect the line items as indicated below, and the amounts in parentheses indicate decreases to Net income in the Consolidated Statements of Income.
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| Schedule of Components of Accumulated Other Comprehensive Income/(Loss) | The following tables summarize the components of AOCL, net of tax in the accompanying Consolidated Balance Sheets (in millions):
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Derivatives (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Notional Amounts of Foreign Currency Forward Contracts | The aggregate equivalent United States dollar notional amounts of foreign currency forward contracts as of December 31, 2025 and 2024 were as follows (in millions):
(a) Comprised of exposures to various currencies; none of these individual currency exposures is greater than $25 million. (b)
Amount is below $25 million for the relevant period; therefore, the balance has been included within “Other.” |
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| Fair Value of Derivatives | The following table summarizes the fair value of derivatives reported in the Company’s Consolidated Balance Sheets as of December 31, 2025 and 2024 (in millions):
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| Schedule of Amount and Location of Gains/(Losses) from Hedging Activities | The following table presents the pre-tax amount of unrealized gains/(losses) recognized in other comprehensive income from cash flow hedges for the years ended December 31, 2025, 2024, and 2023 (in millions):
(a) For the years ended December 31, 2025, 2024, and 2023, gains/(losses) of $4.9 million, $(1.9) million, and $2.5 million, respectively, represent the amounts excluded from the assessment of effectiveness and recognized in other comprehensive income, for which an amortization approach is applied. The following table presents the location and amounts of pre-tax net gains/(losses) from cash flow hedging relationships recognized in the Consolidated Statements of Income for the years ended December 31, 2025, 2024, and 2023 (in millions):
Undesignated Hedges The following table presents the location and amount of pre-tax net gains/(losses) on derivatives (from undesignated hedges) in the Consolidated Statements of Income for the years ended December 31, 2025, 2024, and 2023 (in millions):
(a) The Company used foreign currency forward and option contracts as part of its Business Solutions payments operations. These derivative contracts are excluded from this table as they were managed as part of a broader currency portfolio that included non-derivative currency exposures. The gains and losses on these derivatives are included as part of the broader disclosure of portfolio revenue for this business discussed above. (b)
The Company uses foreign currency forward contracts to offset foreign exchange rate fluctuations on settlement assets and obligations as well as certain foreign currency denominated positions. Foreign exchange gains/(losses) on settlement assets and obligations, cash balances, and other assets and liabilities, not including amounts related to derivative activity as displayed above and included in Selling, general, and administrative in the Consolidated Statements of Income, were $11.4 million, $(68.0) million, and $(2.6) million for the years ended December 31, 2025, 2024, and 2023, respectively. |
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Borrowings (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Outstanding Borrowings | The Company’s outstanding borrowings consisted of the following (in millions):
(a) One of the Company's subsidiaries utilizes a short-term revolving credit facility agreement to fund certain operating activities in the UK. The subsidiary may borrow up to £60 million ($81 million as of December 31, 2025), and the facility expires in February 2030. Drawdowns of the credit facility borrowings are restricted for use in this subsidiary to purchase physical currency or repay existing borrowings on the facility. These credit facility borrowings as of December 31, 2025 had a weighted-average annual interest rate of approximately 5.3%. (b) Certain proceeds from the term loan facility borrowings were used to repay $500.0 million of the aggregate principal amount of 2.850% unsecured notes which matured in January 2025. See the Term Loan Facility and Notes sections below for further discussion. (c) The difference between the stated interest rate and the effective interest rate is not significant. (d)
As of December 31, 2025, the Company’s weighted-average effective rate on total borrowings was approximately 4.3%. |
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| Schedule of Maturities of Borrowings | The following summarizes the Company’s maturities of its borrowings at par value as of December 31, 2025 (in millions):
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Stock-Based Compensation Plans (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-Based Payment Arrangement [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Stock Option Activity | A summary of stock option activity for the year ended December 31, 2025 was as follows (options and aggregate intrinsic value in millions):
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| Schedule of Restricted Stock Units and Performance-based Restricted Stock Units Activity | A summary of activity for restricted stock units and performance-based restricted stock units for the year ended December 31, 2025 was as follows (units in millions):
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| Schedule of Impact on Earnings | The following table sets forth the total impact on earnings for stock-based compensation expense recognized in the Consolidated Statements of Income resulting from stock options, restricted stock units, performance-based restricted stock units and deferred stock units for the years ended December 31, 2025, 2024, and 2023 (in millions, except per share data):
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| Schedule of Assumptions for Black-Scholes Option Pricing Model | The Company used the following assumptions for the Black-Scholes option pricing model to determine the value of Western Union options granted for the years ended December 31, 2025, 2024, and 2023:
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Segments (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Results | The following tables present the Company’s segment results for the years ended December 31, 2025, 2024, and 2023 (in millions):
(a) Direct transactional expenses include commissions to agents, bank fees, credit and non-credit losses, and other variable expenses. (b) Depreciation and amortization excludes amortization of capitalized contract costs paid to agents and partners, as this amortization is recorded as commissions to agents and partners and is therefore included in direct transactional expenses. Amortization of capitalized contract costs included within direct transactional expenses in the Consumer Money Transfer segment was $44.3 million, $62.8 million, and $76.4 million for the years ended December 31, 2025, 2024, and 2023, respectively. (c) Other segment items primarily consists of salaries and benefits, professional services, equipment and software expenses, advertising costs, and lease and facilities costs. (d) Represents severance costs not related to acquisition, separation, and integration activities, which have been excluded from the segments as the CODM excludes severance in making operating decisions, including allocating resources to the Company's segments. Prior to the fourth quarter of 2024, these severance costs were included in the redeployment program costs line item, and therefore, severance costs have been consistently excluded from segment operating income in the tables above. (e) Represents the impact from expenses incurred in connection with the Company's acquisition and divestiture activity, including for the review and closing of these transactions, and integration costs directly related to the Company’s acquisitions, such as severance and consulting costs. Beginning in 2024, the Company changed its segment reporting methodology to no longer allocate these costs to its segments. These costs were previously allocated entirely to Consumer Services while it was called Other, and the amount included in the Consumer Services segment was immaterial for the year ended December 31, 2023. (f) Represents the non-cash amortization and impairment of acquired intangible assets in connection with recent business acquisitions. (g) Where indicated, represents asset impairments related to the Company's assets in Russia and the costs associated with operating the Russian entity. While the Company had previously made a decision to suspend its operations in Russia, in the third quarter of 2024, the Company decided to pursue either liquidating or selling the Russian assets, which triggered a review of the carrying value of the assets. During 2025, the Company signed a definitive sale agreement, as amended, which is subject to regulatory approvals. (h) Represented severance, expenses associated with streamlining the Company's organizational and legal structure, and other expenses associated with the Company's program which redeployed investment and expenses in the Company's cost base through optimizations in vendor management, real estate, marketing, and people strategy, as previously announced in October 2022. Expenses incurred under the program also included non-cash impairments of operating lease ROU assets and property and equipment. (i)
On August 4, 2021, the Company entered into an agreement to sell its Business Solutions business. The sale was completed with the final closing on July 1, 2023. |
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| Information Concerning Principal Geographic Areas for Revenue | Information concerning principal geographic areas for Revenue was as follows (in millions):
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| Information Concerning Principal Geographic Areas for Long-Lived Assets , Including ROU Assets | Information concerning principal geographic areas for long-lived assets, including ROU assets, was as follows (in millions):
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Business and Basis of Presentation - Narrative (Details) $ in Millions |
Dec. 31, 2025
USD ($)
Country
|
|---|---|
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| Number of countries and territories where services are available (more than) | Country | 200 |
| Net assets subject to limitations | $ | $ 320 |
Summary of Significant Accounting Policies - Narrative (Details) - USD ($) shares in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
| Outstanding restricted stock and options to purchase shares of stock excluded from the diluted earnings per share calculation | 15.3 | 11.6 | 9.7 |
| Depreciation | $ 35,200,000 | $ 37,400,000 | $ 39,100,000 |
| Goodwill impairment charge | 0 | 0 | 0 |
| Amortization expense | $ 130,200,000 | $ 141,700,000 | $ 144,500,000 |
| Percentage of advertising costs on revenues | 3.00% | 4.00% | 4.00% |
| ASU 2023-09 | |||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
| Change in accounting principle due to adopted accounting standards update | true | ||
| Change in accounting principle, accounting standards update, immaterial effect | true | ||
| Change in accounting principle, accounting standards update, adoption date | Dec. 01, 2025 | ||
| ASU 2023-07 | |||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
| Change in accounting principle due to adopted accounting standards update | true | ||
| Change in accounting principle, accounting standards update, immaterial effect | true | ||
| Change in accounting principle, accounting standards update, adoption date | Dec. 01, 2024 | ||
| Other Intangibles | |||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
| Estimated future aggregate amortization expense, 2026 | $ 153,300,000 | ||
| Estimated future aggregate amortization expense, 2027 | 84,600,000 | ||
| Estimated future aggregate amortization expense, 2028 | 32,100,000 | ||
| Estimated future aggregate amortization expense, 2029 | 15,800,000 | ||
| Estimated future aggregate amortization expense, 2030 | 13,200,000 | ||
| Estimated future aggregate amortization expense, thereafter | $ 21,100,000 | ||
| Impairments of intangible assets | $ 9,000,000 | ||
| Impairment, Intangible Asset, Finite-Lived, Statement of Income or Comprehensive Income [Extensible Enumeration] | Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | ||
| Minimum | Internal Use Software | |||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
| Amortization period of intangible assets | 3 years | ||
| Minimum | Capitalized Contract Costs | |||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
| Amortization period of intangible assets | 5 years | ||
| Minimum | Equipment | |||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
| Property and equipment useful life | 3 years | ||
| Minimum | Furniture and Fixtures | |||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
| Property and equipment useful life | 3 years | ||
| Maximum | Uncollected Settlement Assets and Obligations | |||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
| Derivative contracts maturity range | 1 month | ||
| Maximum | Foreign Currency Denominated Cash and Other Asset and Other Liability Positions | |||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
| Derivative contracts maturity range | 1 year | ||
| Maximum | Internal Use Software | |||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
| Amortization period of intangible assets | 7 years | ||
| Maximum | Capitalized Contract Costs | |||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
| Amortization period of intangible assets | 10 years | ||
| Maximum | Equipment | |||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
| Property and equipment useful life | 7 years | ||
| Maximum | Furniture and Fixtures | |||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
| Property and equipment useful life | 7 years | ||
Summary of Significant Accounting Policies - Schedule of Diluted Weighted-Average Shares Outstanding (Details) - shares shares in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Calculation of diluted weighted-average shares outstanding | |||
| Basic weighted-average shares outstanding | 326.6 | 340.0 | 370.8 |
| Common stock equivalents | 1.0 | 1.1 | 1.0 |
| Diluted weighted-average shares outstanding | 327.6 | 341.1 | 371.8 |
Summary of Significant Accounting Policies - Schedule of Property and Equipment (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Property and Equipment | ||
| Property and equipment, gross | $ 568.5 | $ 539.1 |
| Accumulated depreciation | (473.5) | (454.9) |
| Property and equipment, net | 95.0 | 84.2 |
| Equipment | ||
| Property and Equipment | ||
| Property and equipment, gross | 400.0 | 380.5 |
| Leasehold Improvements | ||
| Property and Equipment | ||
| Property and equipment, gross | 127.5 | 122.7 |
| Furniture and Fixtures | ||
| Property and Equipment | ||
| Property and equipment, gross | 39.5 | $ 35.9 |
| Projects In Process | ||
| Property and Equipment | ||
| Property and equipment, gross | 0.7 | |
| Other | ||
| Property and Equipment | ||
| Property and equipment, gross | $ 0.8 |
Summary of Significant Accounting Policies - Schedule of Components of Other Intangible Assets (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Other Intangible Assets | ||
| Initial Cost | $ 940.8 | $ 914.4 |
| Net of Accumulated Amortization | 356.3 | 315.4 |
| Internal Use Software | ||
| Other Intangible Assets | ||
| Initial Cost | 564.2 | 474.6 |
| Net of Accumulated Amortization | 187.9 | 165.0 |
| Capitalized Contract Costs | ||
| Other Intangible Assets | ||
| Initial Cost | 217.7 | 307.1 |
| Net of Accumulated Amortization | 96.6 | 101.1 |
| Acquired Contracts | ||
| Other Intangible Assets | ||
| Initial Cost | 59.5 | 43.1 |
| Net of Accumulated Amortization | 16.0 | |
| Acquired Trademarks | ||
| Other Intangible Assets | ||
| Initial Cost | 36.4 | 30.7 |
| Net of Accumulated Amortization | 11.7 | 7.6 |
| Other Intangibles | ||
| Other Intangible Assets | ||
| Initial Cost | 26.8 | 18.5 |
| Net of Accumulated Amortization | 7.9 | 1.3 |
| Projects in Process | ||
| Other Intangible Assets | ||
| Initial Cost | 36.2 | 40.4 |
| Net of Accumulated Amortization | $ 36.2 | $ 40.4 |
Revenue - Narrative (Details) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2025
USD ($)
Item
|
Dec. 31, 2024
USD ($)
|
Dec. 31, 2023
USD ($)
|
|
| Revenue | |||
| Revenues from contracts with customers | $ | $ 3,879.6 | $ 4,027.1 | $ 4,158.0 |
| Consumer money transfers | |||
| Revenue | |||
| Revenues from contracts with customers | $ | $ 3,406.8 | 3,685.8 | 3,886.9 |
| Number of performance obligations | Item | 1 | ||
| Number of integrated services involved in a transaction | Item | 1 | ||
| Consumer services | |||
| Revenue | |||
| Revenues from contracts with customers | $ | $ 472.8 | $ 341.3 | $ 258.1 |
| Number of integrated services involved in a transaction | Item | 1 | ||
Revenue - Disaggregation of Revenue Earned from Contracts with Customers (Details) - USD ($) $ in Millions |
12 Months Ended | ||||||
|---|---|---|---|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|||||
| Revenue | |||||||
| Revenues from contracts with customers | $ 3,879.6 | $ 4,027.1 | $ 4,158.0 | ||||
| Other revenues | [1] | 171.1 | 182.6 | 199.0 | |||
| Revenues | 4,050.7 | 4,209.7 | 4,357.0 | ||||
| Consumer money transfers | |||||||
| Revenue | |||||||
| Revenues from contracts with customers | 3,406.8 | 3,685.8 | 3,886.9 | ||||
| Other revenues | [1] | 100.6 | 112.2 | 118.1 | |||
| Revenues | 3,507.4 | 3,798.0 | 4,005.0 | ||||
| Foreign exchange and payment services | |||||||
| Revenue | |||||||
| Revenues from contracts with customers | [2] | 13.0 | |||||
| Other revenues | [1],[2] | 16.7 | |||||
| Revenues | [2] | 29.7 | |||||
| Consumer services | |||||||
| Revenue | |||||||
| Revenues from contracts with customers | 472.8 | 341.3 | 258.1 | ||||
| Other revenues | [1] | 70.5 | 70.4 | 64.2 | |||
| Revenues | 543.3 | 411.7 | 322.3 | ||||
| North America | |||||||
| Revenue | |||||||
| Revenues from contracts with customers | 1,444.6 | 1,608.5 | 1,608.0 | ||||
| North America | Consumer money transfers | |||||||
| Revenue | |||||||
| Revenues from contracts with customers | 1,292.9 | 1,451.7 | 1,469.7 | ||||
| North America | Consumer services | |||||||
| Revenue | |||||||
| Revenues from contracts with customers | 151.7 | 156.8 | 138.3 | ||||
| Europe and Russia/CIS | |||||||
| Revenue | |||||||
| Revenues from contracts with customers | 983.3 | ||||||
| Europe and Russia/CIS | Consumer money transfers | |||||||
| Revenue | |||||||
| Revenues from contracts with customers | 953.5 | ||||||
| Europe and Russia/CIS | Foreign exchange and payment services | |||||||
| Revenue | |||||||
| Revenues from contracts with customers | [2] | 13.0 | |||||
| Europe and Russia/CIS | Consumer services | |||||||
| Revenue | |||||||
| Revenues from contracts with customers | 16.8 | ||||||
| Europe and CIS | |||||||
| Revenue | |||||||
| Revenues from contracts with customers | 1,124.4 | 993.6 | |||||
| Europe and CIS | Consumer money transfers | |||||||
| Revenue | |||||||
| Revenues from contracts with customers | 997.8 | 943.3 | |||||
| Europe and CIS | Consumer services | |||||||
| Revenue | |||||||
| Revenues from contracts with customers | 126.6 | 50.3 | |||||
| Middle East, Africa, and South Asia | |||||||
| Revenue | |||||||
| Revenues from contracts with customers | 543.5 | 665.3 | 829.8 | ||||
| Middle East, Africa, and South Asia | Consumer money transfers | |||||||
| Revenue | |||||||
| Revenues from contracts with customers | 543.3 | 664.9 | 829.4 | ||||
| Middle East, Africa, and South Asia | Consumer services | |||||||
| Revenue | |||||||
| Revenues from contracts with customers | 0.2 | 0.4 | 0.4 | ||||
| Latin America and the Caribbean | |||||||
| Revenue | |||||||
| Revenues from contracts with customers | 571.1 | 557.7 | 521.8 | ||||
| Latin America and the Caribbean | Consumer money transfers | |||||||
| Revenue | |||||||
| Revenues from contracts with customers | 376.8 | 423.9 | 419.2 | ||||
| Latin America and the Caribbean | Consumer services | |||||||
| Revenue | |||||||
| Revenues from contracts with customers | 194.3 | 133.8 | 102.6 | ||||
| Asia Pacific | |||||||
| Revenue | |||||||
| Revenues from contracts with customers | 196.0 | 202.0 | 215.1 | ||||
| Asia Pacific | Consumer money transfers | |||||||
| Revenue | |||||||
| Revenues from contracts with customers | $ 196.0 | $ 202.0 | $ 215.1 | ||||
| |||||||
Acquisitions, Divestitures, and Goodwill - Narrative (Details) |
12 Months Ended | ||||||
|---|---|---|---|---|---|---|---|
|
Aug. 10, 2025
USD ($)
|
Apr. 07, 2025 |
Jul. 01, 2023
USD ($)
|
Aug. 04, 2021
USD ($)
Item
|
Dec. 31, 2025
USD ($)
|
Dec. 31, 2024
USD ($)
|
Dec. 31, 2023
USD ($)
|
|
| Business Combination [Line Items] | |||||||
| Gain on sale | $ 18,000,000 | ||||||
| Goodwill impairment | $ 0 | $ 0 | 0 | ||||
| International Money Express, Inc. | |||||||
| Business Combination [Line Items] | |||||||
| Business acquisition, date of acquisition agreement | Aug. 10, 2025 | ||||||
| Approximate Cash consideration | $ 500,000,000 | ||||||
| Eurochange Limited | |||||||
| Business Combination [Line Items] | |||||||
| Business acquisition, date of acquisition | Apr. 07, 2025 | ||||||
| Business Solutions | Asset Held for Sale, Not Discontinued Operations | |||||||
| Business Combination [Line Items] | |||||||
| Consideration from sale of business | $ 910,000,000 | ||||||
| Number of closings | Item | 3 | ||||||
| Revenues | 29,700,000 | ||||||
| Operating expenses | 26,100,000 | ||||||
| Divestiture costs directly associated with this transaction | 1,100,000 | ||||||
| Other expense | $ 2,700,000 | ||||||
| Business Solutions | Asset Held for Sale, Not Discontinued Operations | Final Closing | |||||||
| Business Combination [Line Items] | |||||||
| Gain on sale | $ 18,000,000 | ||||||
Acquisitions, Divestitures, and Goodwill - Schedule of Changes to Goodwill (Details) - USD ($) $ in Millions |
12 Months Ended | |
|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
|
| Changes to goodwill | ||
| Goodwill, beginning balance | $ 2,059.6 | $ 2,034.6 |
| Additions | 35.2 | 25.0 |
| Currency translation | 3.7 | |
| Goodwill, ending balance | 2,098.5 | 2,059.6 |
| Consumer Money Transfer | ||
| Changes to goodwill | ||
| Goodwill, beginning balance | 1,983.3 | 1,980.7 |
| Additions | 3.1 | 2.6 |
| Currency translation | 0.0 | |
| Goodwill, ending balance | 1,986.4 | 1,983.3 |
| Consumer Services | ||
| Changes to goodwill | ||
| Goodwill, beginning balance | 76.3 | 53.9 |
| Additions | 32.1 | 22.4 |
| Currency translation | 3.7 | |
| Goodwill, ending balance | $ 112.1 | $ 76.3 |
Commitments and Contingencies - Narrative (Details) € in Millions, $ in Millions |
12 Months Ended | |||
|---|---|---|---|---|
|
Dec. 31, 2025
USD ($)
|
Dec. 31, 2019
EUR (€)
|
Dec. 31, 2018
EUR (€)
|
Dec. 31, 2017
EUR (€)
Individual
|
|
| Commitments and Contingencies | ||||
| Letters of credit outstanding and bank guarantees | $ 120.0 | |||
| Number of individuals filed lawsuit | Individual | 6 | |||
| Damages sought, value | € | € 22.4 | |||
| Judgement Against Defendants | ||||
| Commitments and Contingencies | ||||
| Court judgment against company, value | 12.3 | € 10.5 | ||
| Judgment Against The Western Union Company | ||||
| Commitments and Contingencies | ||||
| Court judgment against company, value | 10.6 | € 9.0 | ||
| Pending Litigation | ||||
| Commitments and Contingencies | ||||
| Range of possible loss, portion not accrued | $ 30.0 | |||
Related Party Transactions - Narrative (Details) - Equity Method Investee - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Related Party Transactions | |||
| Commission expense | $ 40.9 | $ 45.5 | $ 45.4 |
| Operating Cost and Expense, Related Party [Extensible Enumeration] | Related party | Related party | Related party |
Settlement Assets and Obligations - Schedule of Settlement Assets and Obligations (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|---|
| Settlement assets: | |||
| Cash and cash equivalents | $ 402.0 | $ 631.6 | $ 496.0 |
| Receivables from agents and others | 1,620.0 | 1,421.7 | |
| Less: Allowance for credit losses | (17.9) | (24.7) | |
| Receivables from agents and others, net | 1,602.1 | 1,397.0 | |
| Investment securities | 1,445.1 | 1,332.3 | |
| Less: Allowance for credit losses | (0.1) | (0.1) | |
| Investment securities, net | 1,445.0 | 1,332.2 | |
| Total settlement assets | 3,449.1 | 3,360.8 | |
| Settlement obligations: | |||
| Money transfer, money order, and payment service payables | 2,610.5 | 2,655.5 | |
| Payables to agents | 838.6 | 705.3 | |
| Total settlement obligations | $ 3,449.1 | $ 3,360.8 |
Settlement Assets and Obligations - Narrative (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Other Assets | ||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Advances to agents | $ 202.2 | $ 209.1 |
Settlement Assets and Obligations - Summary of Activity in the Allowance for Credit Losses (Details) - USD ($) $ in Millions |
12 Months Ended | ||||
|---|---|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|||
| Summary of activity in allowance for credit losses | |||||
| Allowance for credit losses, Beginning Balance | $ 24.7 | ||||
| Allowance for credit losses, Ending Balance | 17.9 | $ 24.7 | |||
| Receivables from agents and others | |||||
| Summary of activity in allowance for credit losses | |||||
| Allowance for credit losses, Beginning Balance | 24.7 | 15.4 | $ 11.4 | ||
| Current period provision for expected credit losses | [1] | 14.1 | 25.6 | 19.4 | |
| Write-offs charged against the allowance | (36.5) | (29.9) | (27.3) | ||
| Recoveries of amounts previously written off | 15.1 | 14.7 | 13.9 | ||
| Impacts of foreign currency exchange rates, divestitures and other | 0.5 | (1.1) | (2.0) | ||
| Allowance for credit losses, Ending Balance | $ 17.9 | 24.7 | 15.4 | ||
| Receivables from Business Solutions customers | |||||
| Summary of activity in allowance for credit losses | |||||
| Allowance for credit losses, Beginning Balance | $ 0.0 | 1.6 | |||
| Current period provision for expected credit losses | [1] | 1.4 | |||
| Write-offs charged against the allowance | (3.1) | ||||
| Impacts of foreign currency exchange rates, divestitures and other | 0.1 | ||||
| Allowance for credit losses, Ending Balance | $ 0.0 | ||||
| |||||
Settlement Assets and Obligations - Components of Investment Securities (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
||
|---|---|---|---|---|---|
| Cash and cash equivalents | |||||
| Amortized Cost | $ 1,234.4 | $ 1,474.0 | $ 1,268.6 | ||
| Available-for-sale securities: | |||||
| Fair Value | 1,445.1 | ||||
| Settlement Assets | |||||
| Available-for-sale securities: | |||||
| Amortized Cost | 1,443.9 | 1,372.9 | |||
| Fair Value | 1,445.1 | 1,332.3 | |||
| Gross Unrealized Gains | 21.0 | 6.1 | |||
| Gross Unrealized Losses | (19.8) | (46.7) | |||
| Net Unrealized Gains/ (Losses) | 1.2 | (40.6) | |||
| Amortized Cost | 1,488.1 | 1,405.5 | |||
| Fair Value | 1,489.3 | 1,364.9 | |||
| Gross Unrealized Gains | 21.0 | 6.1 | |||
| Gross Unrealized Losses | (19.8) | (46.7) | |||
| Net Unrealized Gains/ (Losses) | 1.2 | (40.6) | |||
| Money market funds | Settlement Assets | |||||
| Cash and cash equivalents | |||||
| Amortized Cost | 44.2 | 32.6 | |||
| Fair Value | 44.2 | 32.6 | |||
| State and municipal debt securities | Settlement Assets | |||||
| Available-for-sale securities: | |||||
| Amortized Cost | [1] | 1,137.2 | 1,069.5 | ||
| Fair Value | [1] | 1,131.4 | 1,029.0 | ||
| Gross Unrealized Gains | [1] | 12.5 | 2.7 | ||
| Gross Unrealized Losses | [1] | (18.3) | (43.2) | ||
| Net Unrealized Gains/ (Losses) | [1] | (5.8) | (40.5) | ||
| Asset-backed securities | Settlement Assets | |||||
| Available-for-sale securities: | |||||
| Amortized Cost | 155.4 | 208.6 | |||
| Fair Value | 157.8 | 211.2 | |||
| Gross Unrealized Gains | 2.4 | 2.6 | |||
| Net Unrealized Gains/ (Losses) | 2.4 | 2.6 | |||
| Corporate debt and other securities | Settlement Assets | |||||
| Available-for-sale securities: | |||||
| Amortized Cost | 151.3 | 94.8 | |||
| Fair Value | 155.9 | 92.1 | |||
| Gross Unrealized Gains | 6.1 | 0.8 | |||
| Gross Unrealized Losses | (1.5) | (3.5) | |||
| Net Unrealized Gains/ (Losses) | $ 4.6 | $ (2.7) | |||
| |||||
Settlement Assets and Obligations - Contractual Maturities of Debt Securities (Details) $ in Millions |
Dec. 31, 2025
USD ($)
|
|---|---|
| Fair Value | |
| Due within 1 year | $ 82.4 |
| Due after 1 year through 5 years | 550.0 |
| Due after 5 years through 10 years | 357.6 |
| Due after 10 years | 455.1 |
| Total | $ 1,445.1 |
Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Assets: | ||
| Settlement assets | $ 3,449.1 | $ 3,360.8 |
| Derivatives | 15.3 | 29.5 |
| Liabilities: | ||
| Derivatives | 40.2 | 3.6 |
| Recurring | ||
| Assets: | ||
| Derivatives | 15.3 | 29.5 |
| Total assets | 1,504.6 | 1,394.4 |
| Liabilities: | ||
| Derivatives | 40.2 | 3.6 |
| Total liabilities | 40.2 | 3.6 |
| Recurring | Money market funds | ||
| Assets: | ||
| Settlement assets | 44.2 | 32.6 |
| Recurring | State and municipal debt securities | ||
| Assets: | ||
| Settlement assets | 1,131.4 | 1,029.0 |
| Recurring | Asset-backed securities | ||
| Assets: | ||
| Settlement assets | 157.8 | 211.2 |
| Recurring | Corporate debt securities | ||
| Assets: | ||
| Settlement assets | 155.9 | 92.1 |
| Recurring | Level 1 | ||
| Assets: | ||
| Total assets | 44.2 | 32.6 |
| Recurring | Level 1 | Money market funds | ||
| Assets: | ||
| Settlement assets | 44.2 | 32.6 |
| Recurring | Level 2 | ||
| Assets: | ||
| Derivatives | 15.3 | 29.5 |
| Total assets | 1,460.4 | 1,361.8 |
| Liabilities: | ||
| Derivatives | 40.2 | 3.6 |
| Total liabilities | 40.2 | 3.6 |
| Recurring | Level 2 | State and municipal debt securities | ||
| Assets: | ||
| Settlement assets | 1,131.4 | 1,029.0 |
| Recurring | Level 2 | Asset-backed securities | ||
| Assets: | ||
| Settlement assets | 157.8 | 211.2 |
| Recurring | Level 2 | Corporate debt securities | ||
| Assets: | ||
| Settlement assets | $ 155.9 | $ 92.1 |
Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2025 |
|
| Carrying Value | |||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
| Borrowings | $ 2,940.8 | $ 2,877.8 | |
| Level 2 | Fair Value | |||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
| Borrowings | 2,876.7 | $ 2,881.3 | |
| Non-recurring | |||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
| Non-recurring asset fair value adjustments | $ 13.0 | $ 12.0 | |
Other Assets and Other Liabilities - Schedule of Components of Other Assets and Other Liabilities (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
||
|---|---|---|---|---|
| Other assets: | ||||
| Amounts advanced to agents and disbursement partners | $ 202.2 | $ 209.1 | ||
| Right of use (ROU) assets | 195.2 | 161.1 | ||
| Other investments | [1] | 169.2 | 169.2 | |
| Prepaid expenses | 96.4 | 98.5 | ||
| Equity method investments | 47.1 | 43.7 | ||
| Derivatives | 15.3 | 29.5 | ||
| Other | 121.0 | 100.4 | ||
| Total other assets | 846.4 | 811.5 | ||
| Other liabilities: | ||||
| Operating lease liabilities | 225.7 | 191.2 | ||
| Agent deposits | 63.5 | 46.7 | ||
| Derivatives | 40.2 | 3.6 | ||
| Other | 55.5 | 22.8 | ||
| Total other liabilities | $ 384.9 | $ 264.3 | ||
| ||||
Income Taxes - Components of Pre-Tax Income (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Components of pre-tax income | |||
| Domestic | $ (134.7) | $ (75.7) | $ (40.0) |
| Foreign | 760.4 | 694.3 | 785.8 |
| Income before income taxes | $ 625.7 | $ 618.6 | $ 745.8 |
Income Taxes - Narrative (Details) - USD ($) $ in Millions |
12 Months Ended | |||
|---|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2017 |
|
| Income Tax Contingency [Line Items] | ||||
| Percent of pre-tax income derived from foreign sources | 122.00% | 112.00% | 105.00% | |
| Unrecognized tax benefits that, if recognized, would affect the effective tax rate | $ 47.7 | $ 45.1 | ||
| Total tax contingency reserve | 21.0 | |||
| Interest and penalties, recognized | (5.5) | (15.3) | $ 14.7 | |
| Interest and penalties, accrued | $ 11.0 | 16.6 | ||
| Income tax partial settlement examination, year under examination | 2017 2018 | |||
| Income tax examination, year under examination | 2017 2018 | |||
| Income tax examination, description | Company's international operations and a settlement of the IRS examination of the Company's 2017 and 2018 federal income tax returns | |||
| Settled unagreed adjustments | $ 255.2 | 137.8 | ||
| Income tax benefit | 126.1 | (315.6) | 119.8 | |
| 2017 Tax Act | ||||
| Income Tax Contingency [Line Items] | ||||
| Deferred tax liabilities, undistributed foreign earnings | $ 800.0 | |||
| Payment of deferred tax liabilities undistributed foreign earnings | $ 218.7 | $ 159.3 | $ 119.5 | |
Income Taxes - Schedule of Effective Tax Rates Differed from Statutory Rates (Details) - USD ($) $ in Millions |
12 Months Ended | |||||
|---|---|---|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
||||
| Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract] | ||||||
| Federal statutory rate | $ 131.4 | |||||
| State income taxes, net of federal income tax benefits | [1] | 0.8 | ||||
| Effect of cross-border tax laws, Global intangible low-taxed income, net of credits | 5.6 | |||||
| Effect of cross-border tax laws, Subpart F income, net of credits | 8.8 | |||||
| Changes in valuation allowances | 2.0 | |||||
| Nontaxable and nondeductible items, Stock-based compensation awards | 6.6 | |||||
| Nontaxable and nondeductible items, Other | 0.9 | |||||
| Changes in unrecognized tax benefits | 5.5 | |||||
| Effective tax rate, amount | $ 126.1 | $ (315.6) | $ 119.8 | |||
| Effective Income Tax Rate Reconciliation, Percent [Abstract] | ||||||
| Federal statutory rate | 21.00% | 21.00% | 21.00% | |||
| State income taxes, net of federal income tax benefits | 0.10% | [1] | (0.10%) | 0.30% | ||
| Other foreign jurisdictions | (7.20%) | (8.50%) | ||||
| Effect of cross-border tax laws, Global intangible low-taxed income, net of credits | 0.90% | |||||
| Effect of cross-border tax laws, Subpart F income, net of credits | 1.40% | |||||
| Divestitures | 0.50% | |||||
| Lapse of statute of limitations | (0.70%) | (0.80%) | ||||
| Changes in valuation allowances | 0.30% | 0.40% | 0.70% | |||
| Nontaxable and nondeductible items, Stock-based compensation awards | 1.10% | |||||
| Nontaxable and nondeductible items, Other | 0.20% | |||||
| Uncertain tax positions | (0.20%) | 2.30% | ||||
| IRS settlement | (22.30%) | |||||
| International reorganization | (40.20%) | |||||
| Changes in unrecognized tax benefits | 0.90% | |||||
| Other adjustments | (1.70%) | 0.60% | ||||
| Effective tax rate | 20.20% | (51.00%) | 16.10% | |||
| Malta | ||||||
| Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract] | ||||||
| Tax rate differential | $ 18.3 | |||||
| Notional interest deduction | (23.3) | |||||
| Other | $ (0.3) | |||||
| Effective Income Tax Rate Reconciliation, Percent [Abstract] | ||||||
| Other foreign jurisdictions | 2.90% | |||||
| Notional interest deduction | (3.70%) | |||||
| Other adjustments | (0.10%) | |||||
| United Arab Emirates | ||||||
| Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract] | ||||||
| Tax rate differential | $ (49.2) | |||||
| Other | 3.9 | |||||
| Minimum tax | $ 9.9 | |||||
| Effective Income Tax Rate Reconciliation, Percent [Abstract] | ||||||
| Other foreign jurisdictions | (7.90%) | |||||
| Minimum tax | 1.60% | |||||
| Other adjustments | 0.60% | |||||
| Other Foreign Jurisdictions | ||||||
| Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract] | ||||||
| Tax rate differential | $ 9.2 | |||||
| Effective Income Tax Rate Reconciliation, Percent [Abstract] | ||||||
| Other foreign jurisdictions | 1.50% | |||||
| United States | ||||||
| Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract] | ||||||
| Other | $ (4.0) | |||||
| Effective Income Tax Rate Reconciliation, Percent [Abstract] | ||||||
| Other adjustments | (0.60%) | |||||
| ||||||
Income Taxes - Schedule of Effective Tax Rates Differed from Statutory Rates (Parenthetical) (Details) |
12 Months Ended | |
|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Income Tax Disclosure [Abstract] | ||
| US tax paid on foreign earnings | 6.90% | 3.00% |
Income Taxes - Components of Provision for/(Benefit from) Income Taxes (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Current: | |||
| Federal | $ 16.9 | $ (111.1) | $ 30.6 |
| State and local | 4.4 | (3.8) | 2.7 |
| Foreign | 69.9 | 48.1 | 97.5 |
| Total current taxes | 91.2 | (66.8) | 130.8 |
| Deferred: | |||
| Federal | (9.1) | 10.8 | (12.1) |
| State and local | (1.0) | (0.9) | (0.7) |
| Foreign | 45.0 | (258.7) | 1.8 |
| Total deferred taxes | 34.9 | (248.8) | (11.0) |
| Effective tax rate, amount | $ 126.1 | $ (315.6) | $ 119.8 |
Income Taxes - Components of Income Taxes Paid (Details) - USD ($) $ in Millions |
12 Months Ended | ||||
|---|---|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|||
| Income Tax Paid, by Individual Jurisdiction [Line Items] | |||||
| Income taxes paid, net of amounts refunded | $ 295.7 | $ 324.9 | $ 197.4 | ||
| U.S. Federal | |||||
| Income Tax Paid, by Individual Jurisdiction [Line Items] | |||||
| Income taxes paid, net of amounts refunded | 238.2 | ||||
| U.S. State and Local | |||||
| Income Tax Paid, by Individual Jurisdiction [Line Items] | |||||
| Income taxes paid, net of amounts refunded | [1] | 1.7 | |||
| Foreign Tax Jurisdiction | |||||
| Income Tax Paid, by Individual Jurisdiction [Line Items] | |||||
| Income taxes paid, net of amounts refunded | [1] | $ 55.8 | |||
| |||||
Income Taxes - Components of Income Taxes Paid (Parenthetical) (Details) |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Maximum | |
| Income Tax Paid, by Individual Jurisdiction [Line Items] | |
| Income taxes paid percent | 5.00% |
Income Taxes - Principal Components of Deferred Tax Items (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
||
|---|---|---|---|---|
| Deferred tax assets related to: | ||||
| Reserves, accrued expenses and employee-related items | $ 20.1 | $ 16.6 | ||
| Lease liabilities | 16.5 | 19.2 | ||
| Tax attribute carryovers | 45.7 | 67.7 | ||
| Intangibles, property and equipment | 270.5 | 297.3 | ||
| Deferred benefits of uncertain tax positions | 7.2 | 6.8 | ||
| Securities and investments | 2.3 | 6.4 | ||
| Other | 4.5 | 3.2 | ||
| Valuation allowance | (93.3) | (90.3) | ||
| Total deferred tax assets | 273.5 | 326.9 | ||
| Deferred tax liabilities related to: | ||||
| Intangibles, property and equipment | 190.0 | 205.1 | ||
| Lease right-of-use assets | 10.5 | 12.4 | ||
| Total deferred tax liabilities | 200.5 | 217.5 | ||
| Net deferred tax asset | [1] | $ 73.0 | $ 109.4 | |
| ||||
Income Taxes - Principal Components of Deferred Tax Items (Parenthetical) (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Operating Loss Carryforwards [Line Items] | ||
| Gross deferred tax assets | $ 226.2 | $ 265.0 |
| Deferred tax assets | 273.5 | 326.9 |
| Deferred tax liabilities | $ 200.5 | $ 217.5 |
Income Taxes - Reconciliation of Beginning and Ending of Unrecognized Tax Benefits (Details) - USD ($) $ in Millions |
12 Months Ended | |||
|---|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
|||
| Reconciliation of Unrecognized Tax Benefits | ||||
| Balance at beginning of period | $ 55.6 | $ 269.4 | ||
| Increase related to current period tax positions | [1] | 2.9 | 1.0 | |
| Increase related to prior period tax positions | 5.9 | 0.8 | ||
| Decrease related to prior period tax positions | 0.0 | 0.0 | ||
| Decrease due to settlements with taxing authorities | (10.6) | (213.1) | ||
| Decrease due to lapse of applicable statute of limitations | (1.1) | (2.4) | ||
| Decrease due to effects of foreign currency exchange rates | (0.1) | (0.1) | ||
| Balance at end of period | $ 52.6 | $ 55.6 | ||
| ||||
Leases - Narrative (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Leases | |||
| ROU asset | $ 195.2 | $ 161.1 | |
| Balance sheet location of ROU asset | Other assets | Other assets | |
| Lease liability | $ 225.7 | $ 191.2 | |
| Balance sheet location of lease liability | Other liabilities | Other liabilities | |
| Operating lease costs | $ 69.1 | $ 52.5 | $ 37.4 |
| Lessee, Operating Lease, Existence of Option to Extend [true false] | true | ||
| Minimum | |||
| Leases | |||
| Lease terms | 1 year | ||
| Maximum | |||
| Leases | |||
| Lease terms | 10 years | ||
| Lease extension terms | 10 years | ||
Leases - Schedule of Weighted Average Lease Terms and Discount Rate (Details) |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Weighted Average Lease Terms and Discount Rates | ||
| Weighted-average remaining lease term | 4 years 2 months 12 days | 4 years 8 months 12 days |
| Weighted-average discount rate | 7.80% | 8.90% |
Leases - Schedule of Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Maturities of Operating Lease Liabilities | ||
| Due within 1 year | $ 80.6 | |
| Due after 1 year through 2 years | 57.1 | |
| Due after 2 years through 3 years | 45.0 | |
| Due after 3 years through 4 years | 32.2 | |
| Due after 4 years through 5 years | 22.5 | |
| Due after 5 years | 11.8 | |
| Total lease payments | 249.2 | |
| Less imputed interest | (23.5) | |
| Total operating lease liabilities | $ 225.7 | $ 191.2 |
Stockholders' Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions |
3 Months Ended | 12 Months Ended | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Feb. 19, 2026 |
Dec. 31, 2025 |
Sep. 30, 2025 |
Jun. 30, 2025 |
Mar. 31, 2025 |
Dec. 31, 2024 |
Sep. 30, 2024 |
Jun. 30, 2024 |
Mar. 31, 2024 |
Dec. 31, 2023 |
Sep. 30, 2023 |
Jun. 30, 2023 |
Mar. 31, 2023 |
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Equity, Class of Treasury Stock [Line Items] | ||||||||||||||||
| Unrealized currency translation gains | $ (8.3) | $ 3.7 | $ 18.2 | |||||||||||||
| Cash dividends paid | $ 304.7 | $ 318.3 | $ 346.1 | |||||||||||||
| Common stock dividends (USD per share) | $ 0.235 | $ 0.235 | $ 0.235 | $ 0.235 | $ 0.235 | $ 0.235 | $ 0.235 | $ 0.235 | $ 0.235 | $ 0.235 | $ 0.235 | $ 0.235 | $ 0.94 | $ 0.94 | $ 0.94 | |
| Stock repurchased and retired, publicly announced authorizations (shares) | 23,700,000 | 13,900,000 | 24,300,000 | |||||||||||||
| Stock repurchased and retired, publicly announced authorizations, value excluding commissions | $ 224.7 | $ 177.3 | $ 300.0 | |||||||||||||
| Stock repurchased and retired, publicly announced authorizations, average cost per share excluding commissions (USD per share) | $ 9.49 | $ 12.75 | $ 12.35 | |||||||||||||
| Remaining amount available under share repurchase authorization | $ 775.3 | $ 775.3 | ||||||||||||||
| O 2026 Q1 Dividends | Subsequent Event | ||||||||||||||||
| Equity, Class of Treasury Stock [Line Items] | ||||||||||||||||
| Common stock dividends (USD per share) | $ 0.235 | |||||||||||||||
| Dividends payable, date declared | Feb. 19, 2026 | |||||||||||||||
| Dividends payable, date to be paid | Mar. 31, 2026 | |||||||||||||||
| Common Stock Repurchases With No Expiration Date | ||||||||||||||||
| Equity, Class of Treasury Stock [Line Items] | ||||||||||||||||
| Stock repurchases authorized amount | $ 1,000.0 | $ 1,000.0 | ||||||||||||||
Stockholders' Equity - Schedule of Amounts Reclassified from AOCL (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Accumulated other comprehensive income (loss) | |||
| Reclassification from AOCL, net of tax | $ (8.3) | $ 3.7 | $ 18.2 |
| Investment Securities | |||
| Accumulated other comprehensive income (loss) | |||
| Reclassification from AOCL, Provision for/(benefit from) income taxes | (0.2) | (0.3) | 1.0 |
| Reclassification from AOCL, net of tax | 0.9 | 1.1 | (5.6) |
| Investment Securities | Revenues | |||
| Accumulated other comprehensive income (loss) | |||
| Reclassification from AOCL, before tax | 1.1 | 1.4 | (6.6) |
| Hedging Activities | |||
| Accumulated other comprehensive income (loss) | |||
| Reclassification from AOCL, Provision for/(benefit from) income taxes | 0.7 | (0.2) | |
| Reclassification from AOCL, net of tax | (9.2) | 2.6 | 23.8 |
| Hedging Activities | Foreign currency contracts | Revenues | |||
| Accumulated other comprehensive income (loss) | |||
| Reclassification from AOCL, before tax | (10.1) | 2.4 | 23.9 |
| Hedging Activities | Interest rate contracts | Interest Expense | |||
| Accumulated other comprehensive income (loss) | |||
| Reclassification from AOCL, before tax | $ 0.2 | $ 0.2 | $ 0.1 |
Stockholders' Equity - Schedule of Components of Accumulated Other Comprehensive Income/(Loss) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||
| Beginning balance | $ 968.9 | $ 479.0 | $ 477.8 |
| Amounts reclassified from AOCL into earnings, net of tax | 8.3 | (3.7) | (18.2) |
| Ending balance | 957.8 | 968.9 | 479.0 |
| Investment Securities | |||
| Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||
| Beginning balance | (33.4) | (33.0) | (69.4) |
| Unrealized gains/(losses) | 42.9 | 1.0 | 37.3 |
| Tax benefit/(expense) | (7.6) | (0.3) | (6.5) |
| Amounts reclassified from AOCL into earnings, net of tax | (0.9) | (1.1) | 5.6 |
| Ending balance | 1.0 | (33.4) | (33.0) |
| Hedging Activities | |||
| Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||
| Beginning balance | 13.1 | (15.3) | 20.5 |
| Unrealized gains/(losses) | (65.6) | 32.4 | (12.1) |
| Tax benefit/(expense) | 5.4 | (1.4) | 0.1 |
| Amounts reclassified from AOCL into earnings, net of tax | 9.2 | (2.6) | (23.8) |
| Ending balance | (37.9) | 13.1 | (15.3) |
| Foreign Currency Translation | |||
| Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||
| Beginning balance | (120.2) | (119.0) | (119.0) |
| Unrealized gains/(losses) | 5.8 | (1.2) | |
| Ending balance | (114.4) | (120.2) | (119.0) |
| Total AOCL | |||
| Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||
| Beginning balance | (140.5) | (167.3) | (167.9) |
| Unrealized gains/(losses) | (16.9) | 32.2 | 25.2 |
| Tax benefit/(expense) | (2.2) | (1.7) | (6.4) |
| Amounts reclassified from AOCL into earnings, net of tax | 8.3 | (3.7) | (18.2) |
| Ending balance | $ (151.3) | $ (140.5) | $ (167.3) |
Derivatives - Narrative (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2023 |
Dec. 31, 2024 |
|
| Derivatives | |||
| Accumulated other comprehensive pre-tax gain (loss) to be reclassified into revenue within the next 12 months | $ (19.8) | ||
| Business Solutions | |||
| Derivatives | |||
| Foreign exchange revenues | $ 27.8 | ||
| Foreign currency contracts | |||
| Derivatives | |||
| Offsetting of derivative assets subject to a master netting arrangement or similar agreement | 6.2 | $ 3.4 | |
| Offsetting of derivative liabilities subject to a master netting arrangement or similar agreement | $ 6.2 | $ 3.4 | |
| Designated as hedges | Foreign currency contracts | |||
| Derivatives | |||
| Derivative policy - contract maturity period maximum | 36 months | ||
| Maximum remaining maturity of foreign currency derivatives | 36 months | ||
| Derivative weighted-average maturity | 1 year | ||
| Minimum | Designated as hedges | Foreign currency contracts | |||
| Derivatives | |||
| Derivative policy - targeted weighted-average maturity | 1 year | ||
| Minimum | Not designated as hedges | Uncollected Settlement Assets and Obligations | |||
| Derivatives | |||
| Foreign currency forward contracts maturity range | 2 days | ||
| Maximum | Uncollected Settlement Assets and Obligations | |||
| Derivatives | |||
| Foreign currency forward contracts maturity range | 1 month | ||
| Maximum | Foreign Currency Denominated Cash and Other Asset and Other Liability Positions | |||
| Derivatives | |||
| Foreign currency forward contracts maturity range | 1 year | ||
| Maximum | Designated as hedges | Foreign currency contracts | |||
| Derivatives | |||
| Derivative policy - targeted weighted-average maturity | 2 years | ||
| Maximum | Not designated as hedges | Uncollected Settlement Assets and Obligations | |||
| Derivatives | |||
| Foreign currency forward contracts maturity range | 1 month | ||
| Maximum | Not designated as hedges | Foreign Currency Denominated Cash and Other Asset and Other Liability Positions | |||
| Derivatives | |||
| Foreign currency forward contracts maturity range | 1 year | ||
Derivatives - Notional Amounts of Foreign Currency Forward Contracts (Details) - Foreign currency contracts - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
||
|---|---|---|---|---|
| Designated as hedges | Euro | ||||
| Notional amounts of foreign currency forward contracts | ||||
| Notional amounts | $ 283.8 | $ 210.5 | ||
| Designated as hedges | Canadian dollar | ||||
| Notional amounts of foreign currency forward contracts | ||||
| Notional amounts | 142.9 | 111.7 | ||
| Designated as hedges | British pound | ||||
| Notional amounts of foreign currency forward contracts | ||||
| Notional amounts | 120.0 | 75.6 | ||
| Designated as hedges | Australian dollar | ||||
| Notional amounts of foreign currency forward contracts | ||||
| Notional amounts | 73.4 | 51.2 | ||
| Designated as hedges | Swiss franc | ||||
| Notional amounts of foreign currency forward contracts | ||||
| Notional amounts | 59.2 | 41.6 | ||
| Designated as hedges | Swedish krona | ||||
| Notional amounts of foreign currency forward contracts | ||||
| Notional amounts | 33.4 | |||
| Designated as hedges | Other Currencies | ||||
| Notional amounts of foreign currency forward contracts | ||||
| Notional amounts | [1] | 49.4 | 35.7 | |
| Not designated as hedges | Euro | ||||
| Notional amounts of foreign currency forward contracts | ||||
| Notional amounts | 437.6 | 499.1 | ||
| Not designated as hedges | Canadian dollar | ||||
| Notional amounts of foreign currency forward contracts | ||||
| Notional amounts | 38.0 | 35.5 | ||
| Not designated as hedges | British pound | ||||
| Notional amounts of foreign currency forward contracts | ||||
| Notional amounts | 144.3 | 118.1 | ||
| Not designated as hedges | Australian dollar | ||||
| Notional amounts of foreign currency forward contracts | ||||
| Notional amounts | 72.8 | 49.0 | ||
| Not designated as hedges | Swiss franc | ||||
| Notional amounts of foreign currency forward contracts | ||||
| Notional amounts | 36.9 | 32.6 | ||
| Not designated as hedges | Swedish krona | ||||
| Notional amounts of foreign currency forward contracts | ||||
| Notional amounts | 25.5 | |||
| Not designated as hedges | Other Currencies | ||||
| Notional amounts of foreign currency forward contracts | ||||
| Notional amounts | [1] | 106.5 | 208.5 | |
| Not designated as hedges | Philippine peso | ||||
| Notional amounts of foreign currency forward contracts | ||||
| Notional amounts | 59.9 | 89.8 | ||
| Not designated as hedges | Mexican peso | ||||
| Notional amounts of foreign currency forward contracts | ||||
| Notional amounts | 86.4 | 85.7 | ||
| Not designated as hedges | Kuwaiti dinar | ||||
| Notional amounts of foreign currency forward contracts | ||||
| Notional amounts | 81.6 | |||
| Not designated as hedges | Indian rupee | ||||
| Notional amounts of foreign currency forward contracts | ||||
| Notional amounts | 50.6 | 57.7 | ||
| Not designated as hedges | Singapore dollar | ||||
| Notional amounts of foreign currency forward contracts | ||||
| Notional amounts | 33.8 | $ 31.4 | ||
| Not designated as hedges | Brazilian real | ||||
| Notional amounts of foreign currency forward contracts | ||||
| Notional amounts | 28.5 | |||
| Not designated as hedges | Chinese yuan | ||||
| Notional amounts of foreign currency forward contracts | ||||
| Notional amounts | 33.2 | |||
| Not designated as hedges | Indonesian rupiah | ||||
| Notional amounts of foreign currency forward contracts | ||||
| Notional amounts | 30.0 | |||
| Not designated as hedges | Thai baht | ||||
| Notional amounts of foreign currency forward contracts | ||||
| Notional amounts | $ 29.3 | |||
| ||||
Derivatives - Notional Amounts of Foreign Currency Forward Contracts (Parenthetical) (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Other Currencies | Designated as hedges | ||
| Derivative [Line Items] | ||
| Maximum individual currency exposure within various other currencies | $ 25 | $ 25 |
| Other Currencies | Not designated as hedges | ||
| Derivative [Line Items] | ||
| Maximum individual currency exposure within various other currencies | $ 25 | 25 |
| Swedish krona | Designated as hedges | ||
| Derivative [Line Items] | ||
| Minimum individual currency exposure within various other currencies | 25 | |
| Swedish krona | Not designated as hedges | ||
| Derivative [Line Items] | ||
| Minimum individual currency exposure within various other currencies | 25 | |
| Kuwaiti dinar | Not designated as hedges | ||
| Derivative [Line Items] | ||
| Minimum individual currency exposure within various other currencies | 25 | |
| Brazilian real | Not designated as hedges | ||
| Derivative [Line Items] | ||
| Minimum individual currency exposure within various other currencies | 25 | |
| Chinese yuan | Not designated as hedges | ||
| Derivative [Line Items] | ||
| Minimum individual currency exposure within various other currencies | 25 | |
| Indonesian rupiah | Not designated as hedges | ||
| Derivative [Line Items] | ||
| Minimum individual currency exposure within various other currencies | 25 | |
| Thai baht | Not designated as hedges | ||
| Derivative [Line Items] | ||
| Minimum individual currency exposure within various other currencies | $ 25 |
Derivatives - Fair Value of Derivatives (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Fair Value of Derivatives | ||
| Derivative Assets | $ 15.3 | $ 29.5 |
| Derivative Liabilities | 40.2 | 3.6 |
| Designated as hedges | Foreign currency contracts | ||
| Fair Value of Derivatives | ||
| Derivative Assets | $ 11.4 | $ 24.4 |
| Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Other assets | Other assets |
| Derivative Liabilities | $ 37.6 | $ 0.2 |
| Derivative Liability, Statement of Financial Position [Extensible Enumeration] | Other Liabilities | Other Liabilities |
| Not designated as hedges | Foreign currency contracts | ||
| Fair Value of Derivatives | ||
| Derivative Assets | $ 3.9 | $ 5.1 |
| Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Other assets | Other assets |
| Derivative Liabilities | $ 2.6 | $ 3.4 |
| Derivative Liability, Statement of Financial Position [Extensible Enumeration] | Other Liabilities | Other Liabilities |
Derivatives - Unrealized Gains/(Losses) (Details) - USD ($) $ in Millions |
12 Months Ended | ||||
|---|---|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|||
| Foreign currency contracts | |||||
| Derivatives | |||||
| Gain/(Loss) recognized in OCI | [1] | $ (65.6) | $ 32.4 | $ (12.1) | |
| |||||
Derivatives - Unrealized Gains/(Losses) (Parenthetical) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Derivative [Line Items] | |||
| Gains/(losses) excluded from effectiveness testing recognized in other comprehensive income | $ 4.9 | $ (1.9) | $ 2.5 |
Derivatives - Gains/(Losses) from Hedging Activities (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Gains/(Losses) from Derivatives | |||
| Revenues | $ 4,050.7 | $ 4,209.7 | $ 4,357.0 |
| Interest expense | (143.0) | (119.8) | (105.3) |
| Cash Flow Hedges | Foreign currency contracts | Revenues | |||
| Cash Flow and Fair Value Hedges | |||
| Gains/(losses) reclassified from AOCL into earnings | (10.1) | 2.4 | 23.9 |
| Amount excluded from effectiveness testing recognized in earnings based on an amortization approach | 9.8 | 6.4 | 6.6 |
| Cash Flow Hedges | Interest rate contracts | Interest Expense | |||
| Cash Flow and Fair Value Hedges | |||
| Gains/(losses) reclassified from AOCL into earnings | $ 0.2 | $ 0.2 | $ 0.1 |
Derivatives - Undesignated Hedges (Details) - USD ($) $ in Millions |
12 Months Ended | ||||||
|---|---|---|---|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|||||
| Not designated as hedges | Selling, General and Administrative | |||||||
| Cash Flow and Fair Value Hedges | |||||||
| Gain recognized in Income on Foreign currency derivatives | [1],[2] | $ (6.1) | $ 48.4 | $ 18.0 | |||
| |||||||
Derivatives - Undesignated Hedges (Parenthetical) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Cash Flow and Fair Value Hedges | |||
| Foreign exchange gains/(losses) on settlement assets and obligations, cash balances, and other assets and liabilities | $ 11.4 | $ (68.0) | $ (2.6) |
Borrowings - Schedule of Outstanding Borrowings (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
Mar. 09, 2021 |
Nov. 25, 2019 |
Jun. 21, 2010 |
Nov. 17, 2006 |
||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Outstanding Borrowings | ||||||||||||||||
| Total borrowings at par value | $ 2,884.9 | $ 2,950.0 | ||||||||||||||
| Debt issuance costs and unamortized discount, net | (7.1) | (9.2) | ||||||||||||||
| Total borrowings at carrying value | [1] | 2,877.8 | 2,940.8 | |||||||||||||
| Commercial Paper | ||||||||||||||||
| Outstanding Borrowings | ||||||||||||||||
| Total borrowings at par value | 392.0 | 0.0 | ||||||||||||||
| Credit Facility Borrowings | Eurochange Limited | ||||||||||||||||
| Outstanding Borrowings | ||||||||||||||||
| Total borrowings at par value | [2] | 42.9 | ||||||||||||||
| 2.850% Notes Due 2025 | ||||||||||||||||
| Outstanding Borrowings | ||||||||||||||||
| Total borrowings at par value | 500.0 | [3] | $ 500.0 | |||||||||||||
| 1.350% Notes Due 2026 | ||||||||||||||||
| Outstanding Borrowings | ||||||||||||||||
| Total borrowings at par value | 600.0 | [4] | 600.0 | [4] | $ 600.0 | |||||||||||
| 2.750% Notes Due 2031 | ||||||||||||||||
| Outstanding Borrowings | ||||||||||||||||
| Total borrowings at par value | 300.0 | [4] | 300.0 | [4] | $ 300.0 | |||||||||||
| 6.200% Notes Due 2036 | ||||||||||||||||
| Outstanding Borrowings | ||||||||||||||||
| Total borrowings at par value | 500.0 | [4] | 500.0 | [4] | $ 500.0 | |||||||||||
| 6.200% Notes Due 2040 | ||||||||||||||||
| Outstanding Borrowings | ||||||||||||||||
| Total borrowings at par value | 250.0 | [4] | 250.0 | [4] | $ 250.0 | |||||||||||
| Term Loan Facility Borrowing | ||||||||||||||||
| Outstanding Borrowings | ||||||||||||||||
| Total borrowings at par value | [4] | $ 800.0 | $ 800.0 | |||||||||||||
| ||||||||||||||||
Borrowings - Schedule of Outstanding Borrowings (Parenthetical) (Details) £ in Millions, $ in Millions |
12 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2025
USD ($)
|
Dec. 31, 2023
USD ($)
|
Dec. 31, 2025
GBP (£)
|
Feb. 28, 2025
USD ($)
|
Dec. 31, 2024 |
Mar. 09, 2021 |
Jun. 21, 2010 |
Nov. 17, 2006 |
|
| Outstanding Borrowings | ||||||||
| Repayment of aggregate principal amount | $ 500.0 | $ 300.0 | ||||||
| Weighted-average effective interest rate (as a percent) | 4.30% | 4.30% | ||||||
| Revolving Credit Facility | ||||||||
| Outstanding Borrowings | ||||||||
| Maximum borrowing capacity | $ 1,620.0 | |||||||
| Revolving Credit Facility | Eurochange Limited | ||||||||
| Outstanding Borrowings | ||||||||
| Maximum borrowing capacity | $ 81.0 | £ 60 | ||||||
| Revolving credit facility expiration | 2030-02 | |||||||
| Weighted-average effective interest rate (as a percent) | 5.30% | 5.30% | ||||||
| 2.850% Notes Due 2025 | ||||||||
| Outstanding Borrowings | ||||||||
| Stated interest rate (as a percent) | 2.85% | 2.85% | 2.85% | |||||
| Repayment of aggregate principal amount | $ 500.0 | |||||||
| 1.350% Notes Due 2026 | ||||||||
| Outstanding Borrowings | ||||||||
| Stated interest rate (as a percent) | 1.35% | 1.35% | 1.35% | 1.35% | ||||
| 2.750% Notes Due 2031 | ||||||||
| Outstanding Borrowings | ||||||||
| Stated interest rate (as a percent) | 2.75% | 2.75% | 2.75% | 2.75% | ||||
| 6.200% Notes Due 2036 | ||||||||
| Outstanding Borrowings | ||||||||
| Stated interest rate (as a percent) | 6.20% | 6.20% | 6.20% | 6.20% | ||||
| 6.200% Notes Due 2040 | ||||||||
| Outstanding Borrowings | ||||||||
| Stated interest rate (as a percent) | 6.20% | 6.20% | 6.20% | 6.20% | ||||
| Term Loan Facility Borrowing | ||||||||
| Outstanding Borrowings | ||||||||
| Stated interest rate (as a percent) | 5.20% | 5.20% | 5.20% | |||||
Borrowings - Schedule of Maturities of Borrowings (Details) $ in Millions |
Dec. 31, 2025
USD ($)
|
|---|---|
| Borrowings maturities at par value | |
| Due within 1 year | $ 1,034.9 |
| Due after 1 year through 2 years | 800.0 |
| Due after 5 years | 1,050.0 |
| Total | $ 2,884.9 |
Borrowings - Narrative (Details) - USD ($) $ in Millions |
12 Months Ended | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 13, 2024 |
Mar. 09, 2021 |
Dec. 31, 2025 |
Jan. 09, 2026 |
Feb. 28, 2025 |
Dec. 31, 2024 |
Jun. 25, 2024 |
Nov. 25, 2019 |
Jun. 21, 2010 |
Nov. 17, 2006 |
|||||||
| Long-term and Short-term Debt Instruments | ||||||||||||||||
| Total borrowings at par value | $ 2,884.9 | $ 2,950.0 | ||||||||||||||
| Debt, weighted-average annual interest rate | 4.30% | |||||||||||||||
| Commercial Paper | ||||||||||||||||
| Long-term and Short-term Debt Instruments | ||||||||||||||||
| Threshold over which Commercial Paper Program limit will be reduced for borrowings on Revolving Credit Facility | $ 1,620.0 | |||||||||||||||
| Maximum days to maturity | 397 days | |||||||||||||||
| Total borrowings at par value | $ 392.0 | 0.0 | ||||||||||||||
| Debt, weighted-average annual interest rate | 3.90% | |||||||||||||||
| Debt, weighted-average term | 4 days | |||||||||||||||
| Revolving Credit Facility | ||||||||||||||||
| Long-term and Short-term Debt Instruments | ||||||||||||||||
| Maximum borrowing capacity | $ 1,620.0 | |||||||||||||||
| Maturity date | Nov. 30, 2029 | |||||||||||||||
| Facility fee (as a percent) | 0.11% | |||||||||||||||
| Revolver balance outstanding at the end of period | $ 0.0 | 0.0 | ||||||||||||||
| Revolving Credit Facility | Maximum | ||||||||||||||||
| Long-term and Short-term Debt Instruments | ||||||||||||||||
| Facility fee (as a percent) | 0.20% | |||||||||||||||
| Revolving Credit Facility | Minimum | ||||||||||||||||
| Long-term and Short-term Debt Instruments | ||||||||||||||||
| Facility fee (as a percent) | 0.08% | |||||||||||||||
| Revolving Credit Facility | Base Rate [Member] | ||||||||||||||||
| Long-term and Short-term Debt Instruments | ||||||||||||||||
| Interest rate margin on revolving credit facility (as a percent) | 0.14% | |||||||||||||||
| Revolving Credit Facility | Base Rate [Member] | Maximum | ||||||||||||||||
| Long-term and Short-term Debt Instruments | ||||||||||||||||
| Interest rate margin on revolving credit facility (as a percent) | 0.425% | |||||||||||||||
| Revolving Credit Facility | Base Rate [Member] | Minimum | ||||||||||||||||
| Long-term and Short-term Debt Instruments | ||||||||||||||||
| Interest rate margin on revolving credit facility (as a percent) | 0.00% | |||||||||||||||
| Revolving Credit Facility | SOFR [Member] | ||||||||||||||||
| Long-term and Short-term Debt Instruments | ||||||||||||||||
| Interest rate margin on revolving credit facility (as a percent) | 1.14% | |||||||||||||||
| Revolving Credit Facility | SOFR [Member] | Maximum | ||||||||||||||||
| Long-term and Short-term Debt Instruments | ||||||||||||||||
| Interest rate margin on revolving credit facility (as a percent) | 1.425% | |||||||||||||||
| Revolving Credit Facility | SOFR [Member] | Minimum | ||||||||||||||||
| Long-term and Short-term Debt Instruments | ||||||||||||||||
| Interest rate margin on revolving credit facility (as a percent) | 0.92% | |||||||||||||||
| Letter of Credit Sub-Facility | ||||||||||||||||
| Long-term and Short-term Debt Instruments | ||||||||||||||||
| Maximum borrowing capacity | $ 250.0 | |||||||||||||||
| Swing Line Sublimit | ||||||||||||||||
| Long-term and Short-term Debt Instruments | ||||||||||||||||
| Maximum borrowing capacity | 300.0 | |||||||||||||||
| 1.350% Notes Due 2026 | ||||||||||||||||
| Long-term and Short-term Debt Instruments | ||||||||||||||||
| Total borrowings at par value | $ 600.0 | $ 600.0 | [1] | $ 600.0 | [1] | |||||||||||
| Stated interest rate (as a percent) | 1.35% | 1.35% | 1.35% | |||||||||||||
| Repurchase provisions, percentage of principal | 101.00% | |||||||||||||||
| 2.750% Notes Due 2031 | ||||||||||||||||
| Long-term and Short-term Debt Instruments | ||||||||||||||||
| Total borrowings at par value | $ 300.0 | $ 300.0 | [1] | $ 300.0 | [1] | |||||||||||
| Stated interest rate (as a percent) | 2.75% | 2.75% | 2.75% | |||||||||||||
| Repurchase provisions, percentage of principal | 101.00% | |||||||||||||||
| 2.750% Notes Due 2031 | Base Rate [Member] | ||||||||||||||||
| Long-term and Short-term Debt Instruments | ||||||||||||||||
| Basis spread on applicable treasury rate (as a percent) | 0.25% | |||||||||||||||
| 2.850% Notes Due 2025 | ||||||||||||||||
| Long-term and Short-term Debt Instruments | ||||||||||||||||
| Total borrowings at par value | $ 500.0 | [2] | $ 500.0 | |||||||||||||
| Stated interest rate (as a percent) | 2.85% | 2.85% | ||||||||||||||
| 6.200% Notes Due 2040 | ||||||||||||||||
| Long-term and Short-term Debt Instruments | ||||||||||||||||
| Total borrowings at par value | $ 250.0 | [1] | $ 250.0 | [1] | $ 250.0 | |||||||||||
| Stated interest rate (as a percent) | 6.20% | 6.20% | 6.20% | |||||||||||||
| Premium on early redemptions (as a percent) | 0.30% | |||||||||||||||
| Repurchase provisions, percentage of principal | 101.00% | |||||||||||||||
| 6.200% Notes Due 2036 | ||||||||||||||||
| Long-term and Short-term Debt Instruments | ||||||||||||||||
| Total borrowings at par value | $ 500.0 | [1] | $ 500.0 | [1] | $ 500.0 | |||||||||||
| Stated interest rate (as a percent) | 6.20% | 6.20% | 6.20% | |||||||||||||
| Premium on early redemptions (as a percent) | 0.25% | |||||||||||||||
| Term Loan Facility | ||||||||||||||||
| Long-term and Short-term Debt Instruments | ||||||||||||||||
| Maximum borrowing capacity | $ 1,000.0 | |||||||||||||||
| Maturity date | Dec. 13, 2027 | |||||||||||||||
| Current borrowing capacity | $ 800.0 | |||||||||||||||
| Proceeds from facility | $ 800.0 | |||||||||||||||
| Delayed Draw Term Loan Facility | ||||||||||||||||
| Long-term and Short-term Debt Instruments | ||||||||||||||||
| Maximum borrowing capacity | $ 1,000.0 | |||||||||||||||
| Delayed Draw Term Loan Facility | Subsequent Event | ||||||||||||||||
| Long-term and Short-term Debt Instruments | ||||||||||||||||
| Current borrowing capacity | $ 800.0 | |||||||||||||||
| Term Loan Facility and Delayed Draw Term Loan Facility | Base Rate [Member] | ||||||||||||||||
| Long-term and Short-term Debt Instruments | ||||||||||||||||
| Term loan facility, interest rate margin (as a percent) | 0.25% | |||||||||||||||
| Term Loan Facility and Delayed Draw Term Loan Facility | Base Rate [Member] | Maximum | ||||||||||||||||
| Long-term and Short-term Debt Instruments | ||||||||||||||||
| Term loan facility, interest rate margin (as a percent) | 0.625% | |||||||||||||||
| Term Loan Facility and Delayed Draw Term Loan Facility | Base Rate [Member] | Minimum | ||||||||||||||||
| Long-term and Short-term Debt Instruments | ||||||||||||||||
| Term loan facility, interest rate margin (as a percent) | 0.00% | |||||||||||||||
| Term Loan Facility and Delayed Draw Term Loan Facility | SOFR [Member] | ||||||||||||||||
| Long-term and Short-term Debt Instruments | ||||||||||||||||
| Term loan facility, interest rate margin (as a percent) | 1.25% | |||||||||||||||
| Term Loan Facility and Delayed Draw Term Loan Facility | SOFR [Member] | Maximum | ||||||||||||||||
| Long-term and Short-term Debt Instruments | ||||||||||||||||
| Term loan facility, interest rate margin (as a percent) | 1.625% | |||||||||||||||
| Term Loan Facility and Delayed Draw Term Loan Facility | SOFR [Member] | Minimum | ||||||||||||||||
| Long-term and Short-term Debt Instruments | ||||||||||||||||
| Term loan facility, interest rate margin (as a percent) | 1.00% | |||||||||||||||
| Revolving Credit Facility, Term Loan Facility and Delayed Draw Term Loan Facility | ||||||||||||||||
| Long-term and Short-term Debt Instruments | ||||||||||||||||
| Interest coverage ratio | 3 | |||||||||||||||
| ||||||||||||||||
Stock-Based Compensation Plans - Narrative (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Long-Term Incentive Plan | |||
| Options exercised (shares) | 0 | 0 | |
| Cash received from exercise of stock options | $ 0.2 | ||
| Options granted (shares) | 3,900,000 | ||
| Expected term (in years) | 7 years 2 months 8 days | 7 years 1 month 13 days | 7 years 2 months 23 days |
| Chief Executive Officer | |||
| Long-Term Incentive Plan | |||
| Expected term (in years) | 7 years | 7 years | 7 years |
| Non-executive employees | |||
| Long-Term Incentive Plan | |||
| Options granted (shares) | 0 | 0 | 0 |
| Director | |||
| Long-Term Incentive Plan | |||
| Expected term (in years) | 8 years | 8 years | 8 years |
| Non-employee Director | |||
| Long-Term Incentive Plan | |||
| Award vesting period | 1 year | ||
| Employee Stock Option | |||
| Long-Term Incentive Plan | |||
| Unrecognized compensation cost | $ 4.4 | ||
| Weighted average recognition period | 2 years 6 months | ||
| Expected term (in years) | 10 years | ||
| Employee Stock Option | Chief Executive Officer | |||
| Long-Term Incentive Plan | |||
| Long-term incentive award stock option awards (as a percent) | 20.00% | 20.00% | 20.00% |
| Employee Stock Option | Non-employee Director | |||
| Long-Term Incentive Plan | |||
| Award expiration period | 10 years | ||
| Employee Stock Option | Employees | |||
| Long-Term Incentive Plan | |||
| Award expiration period | 10 years | ||
| Award vesting period | 4 years | ||
| Award vesting (as a percent) | 25.00% | ||
| Restricted Stock Units | Chief Executive Officer | |||
| Long-Term Incentive Plan | |||
| Long-term incentive award restricted stock units (as a percent) | 20.00% | 20.00% | 20.00% |
| Restricted Stock Units | Senior Vice Presidents | |||
| Long-Term Incentive Plan | |||
| Long-term incentive award restricted stock units (as a percent) | 50.00% | 50.00% | 50.00% |
| Restricted Stock Units | Employees | |||
| Long-Term Incentive Plan | |||
| Award vesting period | 3 years | ||
| Restricted Stock Units | Employees | Tranche One | |||
| Long-Term Incentive Plan | |||
| Award vesting period | 3 years | ||
| Restricted Stock Units | Employees | Tranche Two | |||
| Long-Term Incentive Plan | |||
| Award vesting period | 4 years | ||
| Financial PSUs | |||
| Long-Term Incentive Plan | |||
| Award vesting (as a percent) | 100.00% | ||
| Financial PSUs | Minimum | |||
| Long-Term Incentive Plan | |||
| Stock units granted that recipients receive as performance based restricted stock units (as a percent) | 0.00% | 0.00% | 0.00% |
| Financial PSUs | Maximum | |||
| Long-Term Incentive Plan | |||
| Stock units granted that recipients receive as performance based restricted stock units (as a percent) | 200.00% | 200.00% | 200.00% |
| Financial PSUs | Chief Executive Officer | |||
| Long-Term Incentive Plan | |||
| Long-term incentive award performance based restricted stock units (as a percent) | 60.00% | 60.00% | 60.00% |
| Financial PSUs | Senior Vice Presidents | |||
| Long-Term Incentive Plan | |||
| Long-term incentive award performance based restricted stock units (as a percent) | 50.00% | 50.00% | 50.00% |
| TSR PSUs | |||
| Long-Term Incentive Plan | |||
| Award vesting (as a percent) | 100.00% | ||
| RSUs and PSUs | |||
| Long-Term Incentive Plan | |||
| Unrecognized compensation cost | $ 38.4 | ||
| Weighted average recognition period | 1 year 9 months 18 days | ||
| 2024 LTIP | |||
| Long-Term Incentive Plan | |||
| Shares available for grant (shares) | 22,200,000 | ||
Stock-Based Compensation Plans - Schedule of Stock Option Activity (Details) - $ / shares |
12 Months Ended | |
|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
|
| Stock Option Activity | ||
| Outstanding at beginning of period | 8,400,000 | |
| Granted | 3,900,000 | |
| Exercised | 0 | 0 |
| Cancelled/forfeited | (100,000) | |
| Outstanding at end of period | 12,200,000 | 8,400,000 |
| Options exercisable at end of period | 5,200,000 | |
| Weighted-Average Exercise Price | ||
| Outstanding at beginning of period | $ 14.92 | |
| Granted | 10.64 | |
| Cancelled/forfeited | 19.63 | |
| Outstanding at end of period | 13.51 | $ 14.92 |
| Options exercisable at end of period | $ 15.96 | |
| Stock Options, Additional Disclosures | ||
| Weighted-average remaining contractual term, outstanding at end of period (years) | 7 years 9 months 18 days | |
| Weighted-average remaining contractual term, options exercisable at end of period (years) | 6 years 8 months 12 days | |
Stock-Based Compensation Plans - Schedule of Restricted Stock Units and Performance-based Restricted Stock Units Activity (Details) shares in Millions |
12 Months Ended |
|---|---|
|
Dec. 31, 2025
$ / shares
shares
| |
| Restricted Stock Activity | |
| Non-vested at beginning of period | shares | 8.2 |
| Granted | shares | 5.6 |
| Vested | shares | (2.2) |
| Forfeited | shares | (2.0) |
| Non-vested at end of period | shares | 9.6 |
| Restricted Stock Weighted-Average Grant-Date Fair Value | |
| Non-vested at beginning of period | $ / shares | $ 14.14 |
| Granted | $ / shares | 10.43 |
| Vested | $ / shares | 14.42 |
| Forfeited | $ / shares | 13.5 |
| Non-vested at end of period | $ / shares | $ 12.05 |
Stock-Based Compensation Plans - Schedule of Impact on Earnings (Details) - USD ($) $ / shares in Units, $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Stock-Based Compensation | |||
| Stock-based compensation expense | $ (46.6) | $ (38.9) | $ (35.9) |
| Income tax benefit from stock-based compensation expense | 7.6 | 6.8 | 6.1 |
| Net income impact | $ (39.0) | $ (32.1) | $ (29.8) |
| Earnings per share: | |||
| Basic (USD per share) | $ (0.12) | $ (0.09) | $ (0.08) |
| Diluted (USD per share) | $ (0.12) | $ (0.09) | $ (0.08) |
Stock-Based Compensation Plans - Schedule of Assumptions for the Black-Scholes Option Pricing Model (Details) - $ / shares |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Stock options granted: | |||
| Weighted-average risk-free interest rate (as a percent) | 4.30% | 4.20% | 4.00% |
| Weighted-average dividend yield (as a percent) | 8.80% | 7.70% | 6.00% |
| Volatility (as a percent) | 29.30% | 26.90% | 27.80% |
| Expected term (in years) | 7 years 2 months 8 days | 7 years 1 month 13 days | 7 years 2 months 23 days |
| Weighted-average grant date fair value (USD per share) | $ 1.15 | $ 1.47 | $ 2.09 |
Segments - Narrative (Details) |
12 Months Ended |
|---|---|
|
Dec. 31, 2025
Segment
Customer
Region
| |
| Segments | |
| Number of operating segments | 2 |
| Number of reportable segments | 2 |
| Segment Reporting, Expense Information Used by CODM, Description | The Company's CODM is the President and Chief Executive Officer. The CODM uses segment operating income or loss to assess performance, including by comparing the results of each segment with one another, and allocate resources to the segments. This measure includes all expenses necessary to operate the segment and enables the CODM to understand segment profitability based on prior resource allocation decisions. This measure also excludes certain expenses such as exit costs, other severance, and operating expense redeployment activities which may be driven by corporate initiatives or could result in a lack of comparability if included in segment operating income |
| Segment Reporting, CODM, Individual Title and Position or Group Name [Extensible Enumeration] | President and Chief Executive Officer Member |
| Utilized to allocate revenue to the country where the transaction is initiated (as a percent) | 100.00% |
| Operating Segments | Consumer Money Transfer | |
| Segments | |
| Number of consumers in money transfer | Customer | 2 |
| Number of geographic regions in segment | Region | 5 |
Segments - Segments Results (Details) - USD ($) $ in Millions |
12 Months Ended | ||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|||||||||||||||||||||
| Revenues: | |||||||||||||||||||||||
| Revenues | $ 4,050.7 | $ 4,209.7 | $ 4,357.0 | ||||||||||||||||||||
| Expenses: | |||||||||||||||||||||||
| Total segment operating income | 757.3 | 725.8 | 817.5 | ||||||||||||||||||||
| Operating Segments | |||||||||||||||||||||||
| Revenues: | |||||||||||||||||||||||
| Revenues | 4,050.7 | 4,209.7 | 4,357.0 | ||||||||||||||||||||
| Expenses: | |||||||||||||||||||||||
| Direct transactional expenses | [1] | 1,783.7 | 1,859.8 | 1,927.3 | |||||||||||||||||||
| Depreciation and amortization | [2] | 121.1 | 116.3 | 107.1 | |||||||||||||||||||
| Other segment items | [3] | 1,355.4 | 1,443.9 | 1,475.6 | |||||||||||||||||||
| Total segment operating income | 790.5 | 789.7 | 847.0 | ||||||||||||||||||||
| Operating Segments | Consumer Money Transfer | |||||||||||||||||||||||
| Revenues: | |||||||||||||||||||||||
| Revenues | 3,507.4 | 3,798.0 | 4,005.0 | ||||||||||||||||||||
| Expenses: | |||||||||||||||||||||||
| Direct transactional expenses | [1] | 1,635.9 | 1,731.0 | 1,842.4 | |||||||||||||||||||
| Depreciation and amortization | [2] | 100.0 | 99.2 | 97.2 | |||||||||||||||||||
| Other segment items | [3] | 1,096.9 | 1,230.4 | 1,314.6 | |||||||||||||||||||
| Total segment operating income | 674.6 | 737.4 | 750.8 | ||||||||||||||||||||
| Operating Segments | Consumer services | |||||||||||||||||||||||
| Revenues: | |||||||||||||||||||||||
| Revenues | 543.3 | 411.7 | 322.3 | ||||||||||||||||||||
| Expenses: | |||||||||||||||||||||||
| Direct transactional expenses | [1] | 147.8 | 128.8 | 78.1 | |||||||||||||||||||
| Depreciation and amortization | [2] | 21.1 | 17.1 | 9.9 | |||||||||||||||||||
| Other segment items | [3] | 258.5 | 213.5 | 141.8 | |||||||||||||||||||
| Total segment operating income | 115.9 | 52.3 | 92.5 | ||||||||||||||||||||
| Operating Segments | Business Solutions | |||||||||||||||||||||||
| Revenues: | |||||||||||||||||||||||
| Revenues | [4] | 29.7 | |||||||||||||||||||||
| Expenses: | |||||||||||||||||||||||
| Direct transactional expenses | [1],[4] | 6.8 | |||||||||||||||||||||
| Other segment items | [3],[4] | 19.2 | |||||||||||||||||||||
| Total segment operating income | [4] | 3.7 | |||||||||||||||||||||
| Not Allocated To Segments | |||||||||||||||||||||||
| Expenses: | |||||||||||||||||||||||
| Redeployment program costs | (41.4) | [4] | $ (29.5) | [5] | |||||||||||||||||||
| Severance costs/release | [6] | (15.8) | (1.2) | ||||||||||||||||||||
| Acquisition, separation, and integration costs | [7] | (10.9) | (4.1) | ||||||||||||||||||||
| Amortization and impairment of acquisition-related intangible assets | [8] | (3.4) | (2.4) | ||||||||||||||||||||
| Russia termination costs | [9] | $ (3.1) | |||||||||||||||||||||
| Russia asset impairments and termination costs | [9] | $ (14.8) | |||||||||||||||||||||
| |||||||||||||||||||||||
Segments - Segments Results (Parenthetical) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Operating Segments | Consumer Money Transfer | |||
| Segment Reporting Information [Line Items] | |||
| Amortization of capitalized contract costs | $ 44.3 | $ 62.8 | $ 76.4 |
Segments - Information Concerning Principal Geographic Areas for Revenue (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Revenue: | |||
| Revenues | $ 4,050.7 | $ 4,209.7 | $ 4,357.0 |
| United States | |||
| Revenue: | |||
| Revenues | 1,402.6 | 1,536.9 | 1,507.9 |
| International | |||
| Revenue: | |||
| Revenues | $ 2,648.1 | $ 2,672.8 | $ 2,849.1 |
Segments - Information Concerning Principal Geographic Areas for Long-Lived Assets Including ROU Assets (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|---|
| Long-lived assets: | |||
| Property, Plant and Equipment, Net | $ 95.0 | $ 84.2 | |
| Long-lived assets, including ROU assets | 290.2 | 245.3 | $ 218.0 |
| United States | |||
| Long-lived assets: | |||
| Long-lived assets, including ROU assets | 119.1 | 93.0 | 111.6 |
| International | |||
| Long-lived assets: | |||
| Long-lived assets, including ROU assets | $ 171.1 | $ 152.3 | $ 106.4 |
Schedule I - Condensed Financial Information of the Registrant - Condensed Balance Sheets (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
||
|---|---|---|---|---|---|---|
| Assets: | ||||||
| Cash and cash equivalents | $ 1,234.4 | $ 1,474.0 | $ 1,268.6 | |||
| Property and equipment, net of accumulated depreciation of $81.3 and $75.0, respectively | 95.0 | 84.2 | ||||
| Other assets | 846.4 | 811.5 | ||||
| Total assets | 8,305.9 | 8,370.5 | ||||
| Liabilities: | ||||||
| Accounts payable and accrued liabilities | 408.4 | 407.9 | ||||
| Income taxes payable | 74.7 | 272.2 | ||||
| Borrowings | [1] | 2,877.8 | 2,940.8 | |||
| Other liabilities | 384.9 | 264.3 | ||||
| Total liabilities | 7,348.1 | 7,401.6 | ||||
| Stockholders' equity: | ||||||
| Preferred stock, $1.00 par value; 10 shares authorized; no shares issued | ||||||
| Common stock, $0.01 par value; 2,000 shares authorized; 315.7 shares and 337.9 shares issued and outstanding as of December 31, 2025 and 2024, respectively | 3.2 | 3.4 | ||||
| Capital surplus | 1,117.4 | 1,070.8 | ||||
| Retained earnings/(accumulated deficit) | (11.5) | 35.2 | ||||
| Accumulated other comprehensive loss | (151.3) | (140.5) | ||||
| Total stockholders' equity | 957.8 | 968.9 | $ 479.0 | $ 477.8 | ||
| Total liabilities and stockholders' equity | 8,305.9 | 8,370.5 | ||||
| Parent Company | Reportable Legal Entities | ||||||
| Assets: | ||||||
| Cash and cash equivalents | 2.5 | 1.4 | ||||
| Property and equipment, net of accumulated depreciation of $81.3 and $75.0, respectively | 5.5 | 11.8 | ||||
| Income taxes receivable | 39.4 | 0.0 | ||||
| Other assets | 69.6 | 76.9 | ||||
| Investment in subsidiaries | 5,036.7 | 4,838.2 | ||||
| Total assets | 5,153.7 | 4,928.3 | ||||
| Liabilities: | ||||||
| Accounts payable and accrued liabilities | 48.0 | 54.0 | ||||
| Income taxes payable | 0.0 | 185.0 | ||||
| Payable to subsidiaries, net | 1,248.0 | 703.9 | ||||
| Borrowings | 2,834.9 | 2,940.8 | ||||
| Other liabilities | 65.0 | 75.7 | ||||
| Total liabilities | 4,195.9 | 3,959.4 | ||||
| Stockholders' equity: | ||||||
| Preferred stock, $1.00 par value; 10 shares authorized; no shares issued | ||||||
| Common stock, $0.01 par value; 2,000 shares authorized; 315.7 shares and 337.9 shares issued and outstanding as of December 31, 2025 and 2024, respectively | 3.2 | 3.4 | ||||
| Capital surplus | 1,117.4 | 1,070.8 | ||||
| Retained earnings/(accumulated deficit) | (11.5) | 35.2 | ||||
| Accumulated other comprehensive loss | (151.3) | (140.5) | ||||
| Total stockholders' equity | 957.8 | 968.9 | ||||
| Total liabilities and stockholders' equity | $ 5,153.7 | $ 4,928.3 | ||||
| ||||||
Schedule I - Condensed Financial Information of the Registrant - Condensed Balance Sheets (Parenthetical) (Details) - USD ($) $ / shares in Units, $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| CONDENSED BALANCE SHEETS | ||
| Accumulated depreciation | $ 473.5 | $ 454.9 |
| Preferred stock, par value (USD per share) | $ 1.00 | $ 1.00 |
| Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
| Preferred stock, shares issued | 0 | 0 |
| Common stock, par value (USD per share) | $ 0.01 | $ 0.01 |
| Common stock, shares authorized | 2,000,000,000 | 2,000,000,000 |
| Common stock, shares issued | 315,700,000 | 337,900,000 |
| Common stock, shares outstanding | 315,700,000 | 337,900,000 |
| Parent Company | Reportable Legal Entities | ||
| CONDENSED BALANCE SHEETS | ||
| Accumulated depreciation | $ 81.3 | $ 75.0 |
| Preferred stock, par value (USD per share) | $ 1.00 | $ 1.00 |
| Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
| Preferred stock, shares issued | 0 | 0 |
| Common stock, par value (USD per share) | $ 0.01 | $ 0.01 |
| Common stock, shares authorized | 2,000,000,000 | 2,000,000,000 |
| Common stock, shares issued | 315,700,000 | 337,900,000 |
| Common stock, shares outstanding | 315,700,000 | 337,900,000 |
Schedule I - Condensed Financial Information of the Registrant - Condensed Statements of Income and Comprehensive Income (Details) - USD ($) $ in Millions |
12 Months Ended | ||||
|---|---|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|||
| CONDENSED STATEMENTS OF INCOME/(LOSS) AND COMPREHENSIVE INCOME/(LOSS) | |||||
| Revenues | $ 4,050.7 | $ 4,209.7 | $ 4,357.0 | ||
| Expenses | [1] | 3,293.4 | 3,483.9 | 3,539.5 | |
| Operating income | 757.3 | 725.8 | 817.5 | ||
| Interest income | 7.9 | 11.9 | 15.6 | ||
| Interest expense | (143.0) | (119.8) | (105.3) | ||
| Other expense, net | 3.5 | 0.7 | |||
| Income tax benefit | (126.1) | 315.6 | (119.8) | ||
| Net income | 499.6 | 934.2 | 626.0 | ||
| Other comprehensive income/(loss), net of tax | (10.8) | 26.8 | 0.6 | ||
| Comprehensive income | 488.8 | 961.0 | 626.6 | ||
| Parent Company | Reportable Legal Entities | |||||
| CONDENSED STATEMENTS OF INCOME/(LOSS) AND COMPREHENSIVE INCOME/(LOSS) | |||||
| Interest income | 0.1 | 1.2 | |||
| Interest expense | (182.7) | (158.7) | (121.5) | ||
| Other expense, net | (0.6) | (0.5) | |||
| Loss before equity earnings of affiliates and income taxes | (183.3) | (159.1) | (120.3) | ||
| Equity in earnings of affiliates, net of tax | 640.2 | 1,059.2 | 720.6 | ||
| Income tax benefit | 42.7 | 34.1 | 25.7 | ||
| Net income | 499.6 | 934.2 | 626.0 | ||
| Other comprehensive income/(loss), net of tax | (0.1) | (0.2) | 0.3 | ||
| Other comprehensive income/(loss) of affiliates, net of tax | (10.7) | 27.0 | 0.3 | ||
| Comprehensive income | $ 488.8 | $ 961.0 | $ 626.6 | ||
| |||||
Schedule I - Condensed Financial Information of the Registrant - Condensed Statements of Cash Flow (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Cash flows from operating activities | |||
| Net cash provided by operating activities | $ 543.7 | $ 406.3 | $ 783.1 |
| Cash flows from investing activities | |||
| Purchases of property and equipment | (38.5) | (37.4) | (22.9) |
| Other investing activities | (9.2) | (15.2) | (3.7) |
| Net cash provided by/(used in) investing activities | (230.3) | (16.3) | (140.8) |
| Cash flows from financing activities | |||
| Net proceeds from/(repayments of) commercial paper | 392.0 | (364.9) | 184.9 |
| Net proceeds from issuance of borrowings | 798.1 | ||
| Principal payments on borrowings | (500.0) | (300.0) | |
| Proceeds from exercise of options | 0.2 | ||
| Cash dividends and dividend equivalents paid | (309.0) | (321.5) | (349.0) |
| Common stock repurchased | (234.6) | (186.2) | (308.4) |
| Other financing activities | (0.8) | (0.9) | (1.7) |
| Net cash used in financing activities | (782.6) | (69.3) | (896.8) |
| Net change in cash and cash equivalents, including settlement, and restricted cash | (469.2) | 320.7 | (254.5) |
| Supplemental cash flow information: | |||
| Cash paid for lease liabilities | 67.7 | 54.9 | 40.1 |
| Non-cash lease liabilities arising from obtaining right-of-use assets (Note 6) | 34.0 | 60.6 | 39.1 |
| Parent Company | Reportable Legal Entities | |||
| Cash flows from operating activities | |||
| Net cash provided by operating activities | 101.2 | 757.5 | 514.7 |
| Cash flows from investing activities | |||
| Purchases of property and equipment | (0.2) | (1.3) | (1.7) |
| Proceeds from the sale of non-settlement investments | 100.0 | ||
| Capital contributed to subsidiaries, net | (13.4) | (232.5) | (6.0) |
| Other investing activities | (1.8) | (1.0) | (2.5) |
| Net cash provided by/(used in) investing activities | (15.4) | (234.8) | 89.8 |
| Cash flows from financing activities | |||
| Advances from/(payments to) subsidiaries, net | 566.9 | (448.2) | 170.3 |
| Net proceeds from/(repayments of) commercial paper | 392.0 | (364.9) | 184.9 |
| Net proceeds from issuance of borrowings | 798.1 | ||
| Principal payments on borrowings | (500.0) | (300.0) | |
| Proceeds from exercise of options | 0.2 | ||
| Cash dividends and dividend equivalents paid | (309.0) | (321.5) | (349.0) |
| Common stock repurchased | (234.6) | (186.2) | (308.4) |
| Other financing activities | (0.7) | (2.0) | |
| Net cash used in financing activities | (84.7) | (523.4) | (604.0) |
| Net change in cash and cash equivalents, including settlement, and restricted cash | 1.1 | (0.7) | 0.5 |
| Cash and cash equivalents, including settlement, and restricted cash at beginning of period | 1.4 | 2.1 | 1.6 |
| Cash and cash equivalents, including settlement, and restricted cash at end of period | 2.5 | 1.4 | 2.1 |
| Supplemental cash flow information: | |||
| Non-cash financing activity, distribution of note from subsidiary (Note 3) | 23.2 | 84.6 | 210.9 |
| Cash paid for lease liabilities | $ 15.2 | $ 17.3 | $ 14.2 |
Schedule I - Condensed Financial Information of the Registrant - Narrative (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Aug. 04, 2021 |
|
| NOTES TO CONDENSED FINANCIAL STATEMENTS | |||
| Net assets subject to limitations | $ 320.0 | ||
| Letters of credit outstanding and bank guarantees | 120.0 | ||
| ROU asset | $ 195.2 | $ 161.1 | |
| Balance sheet location of ROU asset | Other assets | Other assets | |
| Lease liability | $ 225.7 | $ 191.2 | |
| Balance sheet location of lease liability | Other liabilities | Other liabilities | |
| Lessee, Operating Lease, Existence of Option to Extend [true false] | true | ||
| Minimum | |||
| NOTES TO CONDENSED FINANCIAL STATEMENTS | |||
| Lease terms | 1 year | ||
| Maximum | |||
| NOTES TO CONDENSED FINANCIAL STATEMENTS | |||
| Lease terms | 10 years | ||
| Lease extension terms | 10 years | ||
| Reportable Legal Entities | Parent Company | |||
| NOTES TO CONDENSED FINANCIAL STATEMENTS | |||
| Net assets subject to limitations | $ 320.0 | ||
| Letters of credit outstanding and bank guarantees | 120.0 | ||
| Loss contingency guarantee to an underwriter of a surety bond, payable | 295.0 | ||
| ROU asset | $ 40.2 | $ 45.8 | |
| Balance sheet location of ROU asset | Other assets | Other assets | |
| Lease liability | $ 62.8 | $ 73.4 | |
| Balance sheet location of lease liability | Other liabilities | Other liabilities | |
| Lessee, Operating Lease, Existence of Option to Extend [true false] | true | true | |
| Reportable Legal Entities | Parent Company | Divestitures | Business Solutions | |||
| NOTES TO CONDENSED FINANCIAL STATEMENTS | |||
| Consideration from sale of business | $ 910.0 | ||
| Reportable Legal Entities | Parent Company | Minimum | |||
| NOTES TO CONDENSED FINANCIAL STATEMENTS | |||
| Lease terms | 1 year | ||
| Reportable Legal Entities | Parent Company | Maximum | |||
| NOTES TO CONDENSED FINANCIAL STATEMENTS | |||
| Lease terms | 6 years | ||
| Lease extension terms | 10 years | ||
Schedule I - Condensed Financial Information of the Registrant - Promissory Notes (Details) - Parent Company - Reportable Legal Entities - USD ($) $ in Millions |
Jun. 01, 2025 |
Apr. 01, 2025 |
Dec. 01, 2023 |
Oct. 01, 2023 |
Sep. 01, 2023 |
||
|---|---|---|---|---|---|---|---|
| NOTES TO CONDENSED FINANCIAL STATEMENTS | |||||||
| Notes payable to subsidiary | [1] | $ 75.9 | $ 180.8 | $ 245.2 | $ 290.1 | $ 93.7 | |
| Stated interest rate (as a percent) | [1] | 4.00% | 4.31% | 5.30% | 5.12% | 5.07% | |
| |||||||
Schedule I - Condensed Financial Information of the Registrant - Summary of Weighted-Average Lease Term and Discount Rate (Details) |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Condensed Financial Statements, Captions [Line Items] | ||
| Weighted-average remaining lease term | 4 years 2 months 12 days | 4 years 8 months 12 days |
| Weighted-average discount rate | 7.80% | 8.90% |
| Reportable Legal Entities | Parent Company | ||
| Condensed Financial Statements, Captions [Line Items] | ||
| Weighted-average remaining lease term | 5 years | 5 years 9 months 18 days |
| Weighted-average discount rate | 5.80% | 5.70% |
Schedule I - Condensed Financial Information of the Registrant - Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Maturities of Operating Lease Liabilities | ||
| Due within 1 year | $ 80.6 | |
| Due after 1 year through 2 years | 57.1 | |
| Due after 2 years through 3 years | 45.0 | |
| Due after 3 years through 4 years | 32.2 | |
| Due after 4 years through 5 years | 22.5 | |
| Due after 5 years | 11.8 | |
| Total lease payments | 249.2 | |
| Less imputed interest | (23.5) | |
| Total operating lease liabilities | 225.7 | $ 191.2 |
| Reportable Legal Entities | Parent Company | ||
| Maturities of Operating Lease Liabilities | ||
| Due within 1 year | 15.0 | |
| Due after 1 year through 2 years | 14.9 | |
| Due after 2 years through 3 years | 13.8 | |
| Due after 3 years through 4 years | 12.2 | |
| Due after 4 years through 5 years | 12.2 | |
| Due after 5 years | 4.3 | |
| Total lease payments | 72.4 | |
| Less imputed interest | (9.6) | |
| Total operating lease liabilities | $ 62.8 | $ 73.4 |