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Divestitures, Investment Activities, and Goodwill (Tables)
 12 Months Ended
Dec. 31, 2023
Divestitures Investment Activities and Goodwill [Abstract]  
Schedule of Assets and Liabilities Held for Sale

The following table reflects the assets held for sale and associated liabilities of the Business Solutions business in the accompanying Consolidated Balance Sheets (in millions).

 

 

 

December 31,

 

 

 

2022

 

Cash and cash equivalents

 

$

5.2

 

Settlement assets

 

 

74.9

 

Property and equipment, net of accumulated depreciation of $1.0

 

 

0.7

 

Goodwill

 

 

61.4

 

Other intangible assets, net of accumulated amortization of $9.8

 

 

1.4

 

Other assets

 

 

118.0

 

Total assets

 

$

261.6

 

 

 

 

 

Accounts payable and accrued liabilities

 

$

18.2

 

Settlement obligations

 

 

74.9

 

Other liabilities

 

 

89.4

 

Total liabilities

 

$

182.5

 
Schedule of Changes to Goodwill and Accumulated Impairment Losses

The following tables present changes to goodwill for the years ended December 31, 2023 and 2022 and the accumulated impairment losses as of December 31, 2023, 2022, and 2021 (in millions):

 

 

 

Consumer
Money Transfer

 

 

Business
Solutions(a)

 

 

Consumer
Services

 

 

Total

 

January 1, 2022 goodwill, net

 

$

1,980.7

 

 

$

532.0

 

 

$

53.9

 

 

$

2,566.6

 

Additions

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Divestiture(a)

 

 

—

 

 

 

(470.6

)

 

 

—

 

 

 

(470.6

)

December 31, 2022 goodwill, net

 

$

1,980.7

 

 

$

61.4

 

 

$

53.9

 

 

$

2,096.0

 

Additions

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Divestiture(a)

 

 

—

 

 

 

(61.4

)

 

 

—

 

 

 

(61.4

)

December 31, 2023 goodwill, net

 

$

1,980.7

 

 

$

—

 

 

$

53.9

 

 

$

2,034.6

 

 

(a)
Related to the Business Solutions divestiture, as described above.

 

 

 

As of December 31,

 

 

 

2023

 

 

2022

 

 

2021

 

Goodwill, gross

 

$

2,034.6

 

 

$

2,125.6

 

 

$

3,030.6

 

Accumulated impairment losses

 

 

—

 

 

 

(29.6

)

 

 

(464.0

)

Goodwill, net(a)

 

$

2,034.6

 

 

$

2,096.0

 

 

$

2,566.6

 

 

(a)
As of December 31, 2022, Goodwill of $61.4 million related to the Company’s Business Solutions business was included in Assets held for sale on the Company’s Consolidated Balance Sheets, as further described above. All of the Company’s accumulated impairment losses related to the Business Solutions business.