|
Twelve Months Ended
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December 31,
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2009(1)(2)(4)
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2008(2)(4)
|
2007(5)
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2006(4)(6)
|
2005
|
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(In millions, except per share data)
|
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|
Summary
of Operations:
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|
Operating
revenue
|
$ | 1,716.0 | $ | 1,813.6 | $ | 1,706.7 | $ | 1,409.3 | $ | 1,324.1 | ||||||||||
|
Operating
expenses
|
$ | 1,334.2 | $ | 1,374.6 | $ | 1,261.7 | $ | 1,004.1 | $ | 927.3 | ||||||||||
|
Operating
income
|
$ | 381.8 | $ | 439.0 | $ | 445.0 | $ | 405.2 | $ | 396.8 | ||||||||||
|
Consolidated
income from continuing operations
|
$ | 224.4 | $ | 254.9 | $ | 252.7 | $ | 259.5 | $ | 235.3 | ||||||||||
|
Discontinued operations, net of
tax (8)
|
$ | 16.1 | $ | 24.1 | $ | 26.1 | $ | 19.5 | $ | 16.1 | ||||||||||
|
Net
income attributable to Equifax
|
$ | 233.9 | $ | 272.8 | $ | 272.7 | $ | 274.5 | $ | 246.5 | ||||||||||
|
Dividends
paid to Equifax shareholders
|
$ | 20.2 | $ | 20.5 | $ | 20.7 | $ | 20.3 | $ | 20.2 | ||||||||||
|
Diluted
earnings per common share
|
||||||||||||||||||||
|
Net
income from continuing operations attributable to Equifax
|
$ | 1.70 | $ | 1.91 | $ | 1.83 | $ | 1.97 | $ | 1.74 | ||||||||||
|
Discontinued
operations attributable to Equifax
|
$ | 0.13 | $ | 0.18 | $ | 0.19 | $ | 0.15 | $ | 0.12 | ||||||||||
|
Net
income attributable to Equifax
|
$ | 1.83 | $ | 2.09 | $ | 2.02 | $ | 2.12 | $ | 1.86 | ||||||||||
|
Cash
dividends declared per common share
|
$ | 0.16 | $ | 0.16 | $ | 0.16 | $ | 0.16 | $ | 0.15 | ||||||||||
|
Weighted-average
common shares
|
||||||||||||||||||||
|
outstanding
(diluted) (5)
|
127.9 | 130.4 | 135.1 | 129.4 | 132.2 | |||||||||||||||
|
As of December 31,
|
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|
2009(1)
|
2008
|
2007(3)(5)
|
2006
|
2005
|
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|
(In millions)
|
||||||||||||||||||||
|
Balance
Sheet Data:
|
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|
Total
assets
|
$ | 3,550.5 | $ | 3,260.3 | $ | 3,523.9 | $ | 1,790.6 | $ | 1,831.5 | ||||||||||
|
Short-term
debt and current maturities (7)
|
$ | 183.2 | $ | 31.9 | $ | 222.1 | $ | 330.0 | $ | 92.3 | ||||||||||
|
Long-term
debt, net of current portion
|
$ | 990.9 | $ | 1,187.4 | $ | 1,165.2 | $ | 173.9 | $ | 463.8 | ||||||||||
|
Total
debt, net
|
$ | 1,174.1 | $ | 1,219.3 | $ | 1,387.3 | $ | 503.9 | $ | 556.1 | ||||||||||
|
Shareholders'
equity
|
$ | 1,615.0 | $ | 1,323.5 | $ | 1,408.0 | $ | 844.2 | $ | 825.2 | ||||||||||
|
(1)
|
On
October 27, 2009, we acquired IXI Corporation for
$124.0 million. On November 2, 2009, we acquired Rapid Reporting
Verification Company for $72.5 million. The results of these
acquisitions are included in our Consolidated Financial Statements
subsequent to the acquisition dates. For additional information about
these acquisitions, see Note 2 of the Notes to Consolidated Financial
Statements in this report.
|
|
(2)
|
During
2009 and 2008, we recorded restructuring and asset write-down charges of
$24.8 million and $16.8 million, respectively
($15.8 million and $10.5 million, respectively, net of tax). For
additional information about these charges, see Note 10 of the Notes
to the Consolidated Financial Statements in this
report.
|
|
(3)
|
During
2007, total debt increased as a result of our issuance of
$550.0 million of ten- and thirty-year fixed rate senior notes during
the second quarter, our assumption of $75.0 million in senior
guaranteed notes of TALX due 2012, and the commencement of a commercial
paper program for general corporate
purposes.
|
|
(4)
|
During
2009, we recorded a $7.3 million income tax benefit related to our
ability to utilize foreign tax credits beyond 2009. In 2008 and 2006, we
recorded income tax benefits of $14.6 million and $9.5 million,
respectively, related to uncertain tax positions for which the statute of
limitations expired. For additional information about these benefits, see
Note 6 of the Notes to the Consolidated Financial Statements in this
report.
|
|
(5)
|
On
May 15, 2007, we acquired all the outstanding shares of TALX. Under
the terms of the transaction, we issued 20.6 million shares of
Equifax common stock and 1.9 million fully-vested options to purchase
Equifax common stock, and paid approximately $288.1 million in cash,
net of cash acquired. We also assumed TALX’s outstanding debt, which had a
fair value totaling $177.6 million at May 15, 2007. The results
of TALX’s operations are included in our Consolidated Financial Statements
beginning on the date of acquisition. For additional information about the
TALX acquisition, see Note 2 of the Notes to Consolidated Financial
Statements in this report.
|
|
(6)
|
On
January 1, 2006, we adopted new accounting guidance regarding
stock-based compensation which resulted in additional compensation expense
for years ending after December 31, 2005. For additional information
about our stock-based compensation, see Note 7 of the Notes to
Consolidated Financial Statements in this
report.
|
|
(7)
|
Includes
a $29.0 million capital lease obligation in 2009 related to our
headquarters building. For additional information about our headquarters
building lease, see Note 5 of the Notes to Consolidated Financial
Statements in this report.
|
|
(8)
|
On
April 23, 2010, we sold our Equifax Enabling Technologies LLC legal
entity, consisting of our APPRO loan origination software (“APPRO”) for
approximately $72 million. On July 1, 2010, we sold the assets
of our Direct Marketing Services division (“DMS”) for approximately $117
million. Both of these were previously reported in our U.S.
Consumer Information Solutions segment. We have presented the
APPRO and DMS operations as discontinued operations for all periods
presented. For
additional information about the discontinued operations, see Note 14 of
the Notes to Consolidated Financial Statements in this
report.
|