EXHIBIT 13.1 SUMMARY OF SELECTED FINANCIAL DATA
- ----------------------------------------------------------------------------------------------------------------------------- (dollars in thousands, except per share amounts) - ----------------------------------------------------------------------------------------------------------------------------- Year ended December 31 1997 1996 1995 1994 1993 1992 - ----------------------------------------------------------------------------------------------------------------------------- SUMMARY OF OPERATIONS Operating revenue $ 1,366,087 $ 1,222,798 $ 1,105,309 $ 968,660 $ 813,235 $ 724,030 Operating costs and expenses before unusual items 1,042,179 955,897 883,405 770,779 649,135 584,204 Unusual items (25,000) (10,313) 9,243 - (48,438) - - ----------------------------------------------------------------------------------------------------------------------------- Operating income 298,908 256,588 231,147 197,881 115,662 139,826 Other income, net 45,027 22,400 7,335 8,643 3,881 7,474 Interest expense (20,797) (16,439) (15,342) (12,986) (8,742) (3,031) - ----------------------------------------------------------------------------------------------------------------------------- Income from continuing operations before income taxes and cumulative effect of accounting change 323,138 262,549 223,140 193,538 110,801 144,269 Provision for income taxes 137,613 109,452 90,355 79,804 48,525 59,056 - ----------------------------------------------------------------------------------------------------------------------------- Income from continuing operations before cumulative effect of accounting change 185,525 153,097 132,785 113,734 62,276 85,213 Discontinued operations, net of income taxes 1,449 24,520 14,865 6,612 1,239 133 Cumulative effect of accounting change, net of income taxes * (3,237) - - - - - - ----------------------------------------------------------------------------------------------------------------------------- Net income $ 183,737 $ 177,617 $ 147,650 $ 120,346 $ 63,515 $ 85,346 - ----------------------------------------------------------------------------------------------------------------------------- Dividends paid $ 52,030 $ 49,704 $ 50,223 $ 47,161 $ 42,041 $ 42,770 PER COMMON SHARE (basic) Income from continuing operations before cumulative effect of accounting change $ 1.29 $ 1.05 $ 0.88 $ 0.77 $ 0.41 $ 0.52 Discontinued operations 0.01 0.17 0.10 0.04 0.01 - Cumulative effect of accounting change (0.02) - - - - - - ----------------------------------------------------------------------------------------------------------------------------- Net income $ 1.27 $ 1.22 $ 0.98 $ 0.81 $ 0.42 $ 0.52 - ----------------------------------------------------------------------------------------------------------------------------- Weighted average common shares outstanding (basic) 144,233,000 145,518,000 151,357,000 148,608,000 150,114,000 163,918,000 PER COMMON SHARE (diluted) Income from continuing operations before cumulative effect of accounting change $ 1.26 $ 1.03 $ 0.86 $ 0.75 $ 0.41 $ 0.52 Discontinued operations 0.01 0.16 0.10 0.04 0.01 - Cumulative effect of accounting change (0.02) - - - - - - ----------------------------------------------------------------------------------------------------------------------------- Net income $ 1.24 $ 1.19 $ 0.96 $ 0.79 $ 0.42 $ 0.52 - ----------------------------------------------------------------------------------------------------------------------------- Weighted average common shares outstanding (diluted) 147,818,000 149,207,000 154,375,000 150,691,000 151,631,000 164,746,000 Dividends per share $ 0.345 $ 0.330 $ 0.315 $ 0.303 $ 0.280 $ 0.260 BALANCE SHEET DATA (at December 31) Total assets - continuing operations $ 1,177,104 $ 1,011,104 $ 871,489 $ 836,728 $ 629,318 $ 621,322 Total assets $ 1,177,104 $ 1,207,518 $ 976,173 $ 934,832 $ 643,279 $ 638,375 Long-term debt $ 339,301 $ 304,942 $ 302,665 $ 211,962 $ 200,070 $ 191,749 Shareholders' equity $ 349,397 $ 424,950 $ 353,465 $ 361,935 $ 254,031 $ 257,990 Common shares outstanding 142,609,000 144,876,000 147,245,000 151,790,000 149,618,000 151,550,000 OTHER INFORMATION (at December 31) Stock price per share ** $35.44 $27.41 $19.13 $11.80 $12.25 $9.23 Book value per share $2.45 $2.93 $2.40 $2.38 $1.70 $1.70 Market capitalization ** $ 5,053,706 $ 3,970,444 $ 2,816,061 $ 1,790,667 $ 1,832,821 $ 1,399,413 Employees - continuing operations 10,000 9,500 9,800 9,600 8,000 7,500 * The 1997 accounting change relates to EITF No. 97-13 regarding accounting for business process reengineering costs. ** Stock prices and market capitalization have been restated to reflect the spinoff of ChoicePoint.