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Moneygram International Inc (MGI) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Moneygram International Inc

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CIK: 1273931 Ticker: MGI
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MoneyGram International Reports Fourth Quarter and Full Year 2018 Financial Results
DALLAS (February 11, 2019) -- MoneyGram (NASDAQ:MGI) today reported financial results for its fourth quarter and full year ending December 31, 2018.
Fourth Quarter Financial Results
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Total revenue of $345.8 million declined 15% on a reported basis and 14% on a constant currency basis compared to fourth quarter 2017.
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Money transfer revenue was $302.9 million, representing a decrease of 17% on a reported basis and a decrease of 16% on a constant currency basis as compared to fourth quarter 2017. Revenue results include the impact of de-risking the business through transaction and corridor specific compliance controls implemented during the year.
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Total digital revenue remained strong at 16% of money transfer revenue. Higher compliance standards, introductory pricing and an ongoing decline in the US-US corridor contributed to a 7% decrease in online revenue in the quarter as compared to fourth quarter 2017. Online transaction growth, excluding the US-US corridor, grew by more than 25%.
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Investment revenue was $14.0 million, an increase of $5.2 million on a year over year basis due to higher yields in 2018.
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Net loss was $12.5 million compared to net loss of $52.5 million for fourth quarter 2017. EBITDA was $42.8 million, an increase of $67.1 million as compared to the year-ago period. The prior year period included an $85.0 million accrual related to the DPA matter. The quarter also includes:
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$6.4 million of restructuring and reorganization costs.
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An $11.0 million income tax expense compared to a $15.7 million income tax benefit in the year-ago period.
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Adjusted EBITDA was $60.0 million and decreased by $11.3 million compared to fourth quarter 2017. Adjusted EBITDA margin was 17.4% and remained relatively flat when compared to fourth quarter 2017.
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Diluted loss per share was $0.19 compared to diluted loss per share of $0.83 in the fourth quarter 2017. Adjusted diluted earnings per share was $0.01.
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Adjusted Free Cash Flow was $21.1 million for the quarter, a decrease of $4.6 million.

Full Year 2018 Financial Results
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Total revenue of $1,447.6 million declined 10% on a reported basis and 11% on a constant currency basis compared to 2017.
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Online revenue grew 8% primarily from new customer acquisitions. Total digital represented 16% of total money transfer revenue, an increase of more than 100 basis points compared to the prior year.

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The following information was filed by Moneygram International Inc (MGI) on Monday, February 11, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Moneygram International Inc's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive (Loss) Income
Consolidated Statements Of Comprehensive (Loss) Income (Parenthetical)
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders' Deficit
Commitments And Contingencies
Commitments And Contingencies - Additional Information (Detail)
Commitments And Contingencies Commitments And Contingencies (Tables)
Commitments And Contingencies Commitments And Contingencies - Schedule Of Rent Expense (Details)
Commitments And Contingencies Commitments And Contingencies - Summary Of Minimum Future Rental Payments (Details)
Condensed Consolidating Financial Statements
Condensed Consolidating Financial Statements (Tables)
Condensed Consolidating Financial Statements - Condensed, Consolidating Balance Sheets (Detail)
Condensed Consolidating Financial Statements - Condensed, Consolidating Statements Of Cash Flows (Detail)
Condensed Consolidating Financial Statements - Condensed, Consolidating Statements Of Operations (Detail)
Debt
Debt (Tables)
Debt - Additional Information (Detail)
Debt - Credit Agreement Quarterly Financial Covenants (Details)
Debt - Outstanding Debt (Details)
Derivative Financial Instruments
Derivative Financial Instruments (Tables)
Derivative Financial Instruments - Additional Information (Detail)
Derivative Financial Instruments - Fair Values Of Derivative Forward Contract Instruments (Detail)
Derivative Financial Instruments - Summary Of (Gains) Losses Related To Assets And Liabilities Denominated In Foreign Currencies (Detail)
Description Of The Business And Basis Of Presentation (Details)
Description Of The Business And Basis Of Presentation (Notes)
Fair Value Measurement
Fair Value Measurement (Tables)
Fair Value Measurement - Assets And Liabilities Measured At Fair Value By Hierarchy Level (Detail)
Fair Value Measurement - Fair Value And Carrying Value Of Senior Secured Facility (Detail)
Fair Value Measurement - Roll-Forward Of Other Asset-Backed Securities (Detail)
Fair Value Measurement Fair Value Measurement - Additional Information (Details)
Goodwill And Intangible Assets Goodwill And Intangible Assets
Goodwill And Intangible Assets Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets Goodwill And Intangible Assets - Additional Information (Detail)
Goodwill And Intangible Assets Goodwill And Intangible Assets - Components Of Intangible Assets (Detail)
Goodwill And Intangible Assets Goodwill And Intangible Assets - Gross Goodwill Balances And Accumulated Impairments (Details)
Income Taxes
Income Taxes - Additional Information (Detail)
Income Taxes Income Taxes (Tables)
Income Taxes Income Taxes - Amount And Expiration Dates Of Tax Loss Carry Forwards (Not Tax Effected) And Credit Carry Forwards (Details)
Income Taxes Income Taxes - Components Of Income (Loss) Before Income Taxes (Details)
Income Taxes Income Taxes - Deferred Tax Assets And Liabilities (Details)
Income Taxes Income Taxes - Income Tax (Benefit) Expense (Details)
Income Taxes Income Taxes - Reconciliation Of The Expected Federal Income Tax At Statutory Rates (Details)
Income Taxes Income Taxes - Reconciliation Of Unrecognized Tax Benefits For The Period (Details)
Investment Portfolio
Investment Portfolio (Tables)
Investment Portfolio - Additional Information (Detail)
Investment Portfolio - Available For Sale Investments (Substantially Restricted) (Detail)
Investment Portfolio - Components Of Investment Portfolio (Detail)
Investment Portfolio Investment Portfolio - Investment Ratings (Details)
Pension And Other Benefits
Pension And Other Benefits (Tables)
Pension And Other Benefits - Net Periodic Benefit Expense Amortized From Accumulated Other Comprehensive Loss (Detail)
Pension And Other Benefits Pension And Other Benefits - Additional Information (Details)
Pension And Other Benefits Pension And Other Benefits - Changes In Projected Benefit Obligations, Fair Value Of Plan Assets, And Funded Status Of Plan (Details)
Pension And Other Benefits Pension And Other Benefits - Components Recognized In The Consolidated Balance Sheets Relating To The Pension Plan And Serps And The Postretirement Benefit Plans (Details)
Pension And Other Benefits Pension And Other Benefits - Estimated Future Benefit Payments (Details)
Pension And Other Benefits Pension And Other Benefits - Fair Value Measurements, Recurring And Nonrecurring, Valuation Techniques (Details)
Pension And Other Benefits Pension And Other Benefits - Other Comprehensive Income (Loss) And Net Periodic Benefit Expense (Details)
Pension And Other Benefits Pension And Other Benefits - Plan's Financial Assets Recorded At Fair Value By Hierarchy (Details)
Pension And Other Benefits Pension And Other Benefits - Projected Benefit Obligation And Accumulated Benefit Obligation (Details)
Pension And Other Benefits Pension And Other Benefits - Weighted-Average Actuarial Assumptions Used In Calculating The Benefit Obligation And Net Benefit Cost (Details)
Property And Equipment Property And Equipment
Property And Equipment Property And Equipment (Tables)
Property And Equipment Property And Equipment - Additional Information (Details)
Property And Equipment Property And Equipment - Components Of Property And Equipment (Details)
Quarterly Financial Data (Unaudited) Quarterly Financial Data (Unaudited)
Quarterly Financial Data (Unaudited) Quarterly Financial Data (Unaudited) (Details)
Quarterly Financial Data (Unaudited) Quarterly Financial Data (Unaudited) (Tables)
Restructuring And Reorganization Costs (Tables)
Restructuring And Reorganization Costs Additional Information (Details)
Restructuring And Reorganization Costs Restructuring And Related Activities, By Segment (Details)
Restructuring And Reorganization Costs Restructuring And Related Costs (Details)
Restructuring And Reorganization Costs Restructuring And Reorganization Costs (Notes)
Restructuring And Reorganization Costs Restructuring And Reorganization In Operating Expenses (Details)
Restructuring And Reorganization Costs Schedule Of Restructuring Reserve By Type Of Cost (Details)
Revenue Recognition (Details)
Revenue Recognition (Notes)
Revenue Recognition (Tables)
Segment Information
Segment Information (Tables)
Segment Information - Additional Information (Detail)
Segment Information - Assets By Segment (Detail)
Segment Information - Operating Income By Segment (Detail)
Segment Information - Revenue By Segment (Detail)
Segment Information Segment Information - Depreciation And Amortization And Capital Expenditures By Segment (Details)
Segment Information Segment Information - Revenue By Geographical Area (Details)
Segment Information Segment Information - Schedule Of Capital Expenditure, By Segment (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Additional Information (Detail)
Stock-Based Compensation - Restricted Stock And Restricted Stock Unit Compensation Information (Detail)
Stock-Based Compensation - Summary Of Restricted Stock Unit Activity (Detail)
Stock-Based Compensation - Summary Of Stock Option Activity (Detail)
Stock-Based Compensation - Summary Of Stock-Based Compensation Expense (Detail)
Stock-Based Compensation Stock-Based Compensation - Summary Of Stock Option Compensation Information (Details)
Stockholders' Deficit
Stockholders' Deficit (Tables)
Stockholders' Deficit - Additional Information (Details)
Stockholders' Deficit - Reclassification Out Of Accumulated Other Comprehensive Income (Loss) (Details)
Stockholders' Deficit - Schedule Of Amounts Recognized In Other Comprehensive Income (Loss) (Details)
Stockholders' Deficit Stockholders' Deficit - Components Of Accumulated Other Comprehensive Loss (Details)
Stockholders' Deficit Stockholders' Deficit - Summary Of Stock Activity (Details)
Summary Of Significant Accounting Policies Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies Summary Of Significant Accounting Policies - Additional Information (Details)
Summary Of Significant Accounting Policies Summary Of Significant Accounting Policies - Amortized Finite Lived Intangible Assets (Details)
Summary Of Significant Accounting Policies Summary Of Significant Accounting Policies - Estimated Useful Lives By Major Asset Category (Details)
Summary Of Significant Accounting Policies Summary Of Significant Accounting Policies - Receivables (Details)
Summary Of Significant Accounting Policies Summary Of Significant Accounting Policies - Schedule Of Antidilutive Securities Excluded From Computation Of Earnings Per Share (Details)
Summary Of Significant Accounting Policies Summary Of Significant Accounting Policies - Settlement Assets (Details)
Summary Of Significant Accounting Policies Summary Of Significant Accounting Policies - Weighted-Average Common Shares Basic And Diluted (Details)
Ticker: MGI
CIK: 1273931
Form Type: 10-K Annual Report
Accession Number: 0001273931-19-000061
Submitted to the SEC: Wed Mar 06 2019 2:21:06 AM EST
Accepted by the SEC: Wed Mar 06 2019
Period: Monday, December 31, 2018
Industry: Business Services

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