1550 Peachtree Street, N.W. Atlanta, Georgia 30309
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NEWS RELEASE
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Contact:
|
|
Jeff Dodge
|
Tim Klein
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Investor Relations
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Media Relations
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(404) 885-8804
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(404) 885-8555
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jeff.dodge@equifax.com
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tim.klein@equifax.com
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·
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In addition to the financial highlights noted above, second quarter 2011 net income from continuing operations attributable to Equifax was $34.5 million, a 40 percent decrease from the prior year driven by the $27.8 million loss on the merger of our Brazilian business.
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·
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Operating margin from continuing operations was 23.5 percent for the second quarter of 2011, up from 23.0 percent in the second quarter of 2010 and up from 23.1 percent in the first quarter of 2011.
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·
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As a result of the merger of our Brazilian operations with Boa Vista Servicos, we recorded a $27.8 million loss which included the recognition of foreign exchange losses since our initial investment in 1998 and the income tax effects of the transaction.
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·
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We repurchased 0.8 million of our common shares on the open market for $31.3 million during the second quarter of 2011. At June 30, 2011, our remaining authorization for future share repurchases was $223.2 million.
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·
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Online Consumer Information Solutions revenue was $127.6 million, up 6 percent from a year ago.
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·
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Mortgage Solutions revenue was $26.9 million, down 6 percent from a year ago.
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·
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Consumer Financial Marketing Services revenue was $39.5 million, up 11 percent when compared to a year ago.
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·
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Latin America revenue was $59.3 million, down 1 percent in local currency and up 5 percent in U.S. dollars from a year ago. On a non-GAAP basis, excluding Brazil, revenue grew 17 percent in local currency and 21 percent in U.S dollars from a year ago.
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·
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Europe revenue was $38.9 million, up 9 percent in local currency and 20 percent in U.S. dollars from a year ago.
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·
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Canada Consumer revenue was $32.6 million, up 5 percent in local currency and 12 percent in U.S. dollars from a year ago.
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·
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The Work Number revenue was $50.0 million, consistent with a year ago. Double digit revenue growth in traditional online employment and income verification services offset weakness in our mortgage-related government direct services.
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·
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Tax and Talent Management Services revenue was $46.3 million, down 5 percent from a year ago.
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Three Months Ended
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||||||||
June 30,
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||||||||
2011
|
2010
|
|||||||
(In millions, except per share amounts)
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(Unaudited)
|
|||||||
Operating revenue
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$ | 487.1 | $ | 460.7 | ||||
Operating expenses:
|
||||||||
Cost of services (exclusive of depreciation and amortization below)
|
190.9 | 188.3 | ||||||
Selling, general and administrative expenses
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140.5 | 126.9 | ||||||
Depreciation and amortization
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41.1 | 39.7 | ||||||
Total operating expenses
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372.5 | 354.9 | ||||||
Operating income
|
114.6 | 105.8 | ||||||
Interest expense
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(13.7 | ) | (14.1 | ) | ||||
Other (expense) income, net
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(9.6 | ) | 0.8 | |||||
Consolidated income from continuing operations before income taxes
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91.3 | 92.5 | ||||||
Provision for income taxes
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(54.2 | ) | (32.7 | ) | ||||
Consolidated income from continuing operations
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37.1 | 59.8 | ||||||
Discontinued operations, net of tax
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- | 13.6 | ||||||
Consolidated net income
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37.1 | 73.4 | ||||||
Less: Net income attributable to noncontrolling interests
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(2.6 | ) | (2.1 | ) | ||||
Net income attributable to Equifax
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$ | 34.5 | $ | 71.3 | ||||
Amounts attributable to Equifax:
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||||||||
Income from continuing operations attributable to Equifax
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$ | 34.5 | $ | 57.7 | ||||
Discontinued operations, net of tax
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- | 13.6 | ||||||
Net income
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$ | 34.5 | $ | 71.3 | ||||
Basic earnings per common share:
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||||||||
Income from continuing operations attributable to Equifax
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$ | 0.28 | $ | 0.46 | ||||
Discontinued operations attributable to Equifax
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- | 0.11 | ||||||
Net income attributable to Equifax
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$ | 0.28 | $ | 0.57 | ||||
Weighted-average shares used in computing basic earnings per share
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122.8 | 125.7 | ||||||
Diluted earnings per common share:
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||||||||
Income from continuing operations attributable to Equifax
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$ | 0.28 | $ | 0.45 | ||||
Discontinued operations attributable to Equifax
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- | 0.11 | ||||||
Net income attributable to Equifax
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$ | 0.28 | $ | 0.56 | ||||
Weighted-average shares used in computing diluted earnings per share
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124.6 | 127.3 | ||||||
Dividends per common share
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$ | 0.16 | $ | 0.04 |
Six Months Ended
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||||||||
June 30,
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||||||||
2011
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2010
|
|||||||
(In millions, except per share amounts)
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(Unaudited)
|
|||||||
Operating revenue
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$ | 959.7 | $ | 903.7 | ||||
Operating expenses:
|
||||||||
Cost of services (exclusive of depreciation and amortization below)
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385.2 | 378.4 | ||||||
Selling, general and administrative expenses
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267.0 | 236.4 | ||||||
Depreciation and amortization
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83.8 | 78.8 | ||||||
Total operating expenses
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736.0 | 693.6 | ||||||
Operating income
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223.7 | 210.1 | ||||||
Interest expense
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(27.5 | ) | (28.3 | ) | ||||
Other (expense) income, net
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(9.3 | ) | 0.3 | |||||
Consolidated income from continuing operations before income taxes
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186.9 | 182.1 | ||||||
Provision for income taxes
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(90.5 | ) | (66.4 | ) | ||||
Consolidated income from continuing operations
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96.4 | 115.7 | ||||||
Discontinued operations, net of tax
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- | 16.3 | ||||||
Consolidated net income
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96.4 | 132.0 | ||||||
Less: Net income attributable to noncontrolling interests
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(4.6 | ) | (4.0 | ) | ||||
Net income attributable to Equifax
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$ | 91.8 | $ | 128.0 | ||||
Amounts attributable to Equifax:
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||||||||
Income from continuing operations attributable to Equifax
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$ | 91.8 | $ | 111.7 | ||||
Discontinued operations, net of tax
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- | 16.3 | ||||||
Net income
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$ | 91.8 | $ | 128.0 | ||||
Basic earnings per common share:
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||||||||
Income from continuing operations attributable to Equifax
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$ | 0.75 | $ | 0.89 | ||||
Discontinued operations attributable to Equifax
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- | 0.13 | ||||||
Net income attributable to Equifax
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$ | 0.75 | $ | 1.02 | ||||
Weighted-average shares used in computing basic earnings per share
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122.8 | 126.0 | ||||||
Diluted earnings per common share:
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||||||||
Income from continuing operations attributable to Equifax
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$ | 0.74 | $ | 0.87 | ||||
Discontinued operations attributable to Equifax
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- | 0.13 | ||||||
Net income attributable to Equifax
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$ | 0.74 | $ | 1.00 | ||||
Weighted-average shares used in computing diluted earnings per share
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124.6 | 127.7 | ||||||
Dividends per common share
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$ | 0.32 | $ | 0.08 |
June 30,
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December 31,
|
|||||||
2011
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2010
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|||||||
(In millions, except par values)
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(Unaudited)
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|||||||
ASSETS
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Current assets:
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||||||||
Cash and cash equivalents
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$ | 108.7 | $ | 119.4 | ||||
Trade accounts receivable, net of allowance for doubtful accounts of $6.6 and $7.5 at June 30, 2011 and December 31, 2010, respectively
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273.0 | 262.6 | ||||||
Prepaid expenses
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33.1 | 26.1 | ||||||
Other current assets
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21.7 | 21.1 | ||||||
Total current assets
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436.5 | 429.2 | ||||||
Property and equipment:
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||||||||
Capitalized internal-use software and system costs
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321.2 | 315.9 | ||||||
Data processing equipment and furniture
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176.6 | 181.0 | ||||||
Land, buildings and improvements
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176.0 | 169.5 | ||||||
Total property and equipment
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673.8 | 666.4 | ||||||
Less accumulated depreciation and amortization
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(372.9 | ) | (368.0 | ) | ||||
Total property and equipment, net
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300.9 | 298.4 | ||||||
Goodwill
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1,919.1 | 1,914.7 | ||||||
Indefinite-lived intangible assets
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95.7 | 95.6 | ||||||
Purchased intangible assets, net
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559.8 | 593.9 | ||||||
Other assets, net
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177.3 | 101.8 | ||||||
Total assets
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$ | 3,489.3 | $ | 3,433.6 | ||||
LIABILITIES AND EQUITY
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||||||||
Current liabilities:
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Short-term debt and current maturities
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$ | 17.6 | $ | 20.7 | ||||
Accounts payable
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26.7 | 24.6 | ||||||
Accrued expenses
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62.3 | 61.9 | ||||||
Accrued salaries and bonuses
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38.1 | 71.9 | ||||||
Deferred revenue
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52.6 | 58.7 | ||||||
Other current liabilities
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101.4 | 81.7 | ||||||
Total current liabilities
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298.7 | 319.5 | ||||||
Long-term debt
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963.9 | 978.9 | ||||||
Deferred income tax liabilities, net
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252.5 | 244.2 | ||||||
Long-term pension and other postretirement benefit liabilities
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113.3 | 129.0 | ||||||
Other long-term liabilities
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58.3 | 53.6 | ||||||
Total liabilities
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1,686.7 | 1,725.2 | ||||||
Equifax shareholders' equity:
|
||||||||
Preferred stock, $0.01 par value: Authorized shares - 10.0; Issued shares - none
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- | - | ||||||
Common stock, $1.25 par value: Authorized shares - 300.0; Issued shares - 189.3 at June 30, 2011 and December 31, 2010; Outstanding shares - 122.4 and 122.6 at June 30, 2011 and December 31, 2010, respectively
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236.6 | 236.6 | ||||||
Paid-in capital
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1,110.6 | 1,105.8 | ||||||
Retained earnings
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2,777.6 | 2,725.7 | ||||||
Accumulated other comprehensive loss
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(295.9 | ) | (344.5 | ) | ||||
Treasury stock, at cost, 64.8 shares and 64.6 shares at June 30, 2011 and December 31, 2010, respectively
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(2,003.4 | ) | (1,991.0 | ) | ||||
Stock held by employee benefits trusts, at cost, 2.1 shares at June 30, 2011 and December 31, 2010
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(41.2 | ) | (41.2 | ) | ||||
Total Equifax shareholders' equity
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1,784.3 | 1,691.4 | ||||||
Noncontrolling interests
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18.3 | 17.0 | ||||||
Total equity
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1,802.6 | 1,708.4 | ||||||
Total liabilities and equity
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$ | 3,489.3 | $ | 3,433.6 |
Six Months Ended
|
||||||||
June 30,
|
||||||||
2011
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2010
|
|||||||
(In millions)
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(Unaudited)
|
|||||||
Operating activities:
|
||||||||
Consolidated net income
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$ | 96.4 | $ | 132.0 | ||||
Adjustments to reconcile consolidated net income to net cash provided by operating activities:
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||||||||
Loss (gain) on divestitures
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27.8 | (12.3 | ) | |||||
Depreciation and amortization
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83.5 | 84.3 | ||||||
Stock-based compensation expense
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11.8 | 10.9 | ||||||
Excess tax benefits from stock-based compensation plans
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(0.6 | ) | (1.4 | ) | ||||
Deferred income taxes
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6.1 | 0.6 | ||||||
Changes in assets and liabilities, excluding effects of acquisitions:
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||||||||
Accounts receivable, net
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(15.2 | ) | (8.4 | ) | ||||
Prepaid expenses and other current assets
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(8.8 | ) | (1.2 | ) | ||||
Other assets
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8.1 | 4.0 | ||||||
Current liabilities, excluding debt
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(51.3 | ) | (40.2 | ) | ||||
Other long-term liabilities, excluding debt
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(10.8 | ) | (29.4 | ) | ||||
Cash provided by operating activities
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147.0 | 138.9 | ||||||
Investing activities:
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||||||||
Capital expenditures
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(43.9 | ) | (66.9 | ) | ||||
Acquisitions, net of cash acquired
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(30.7 | ) | (14.7 | ) | ||||
Proceeds received from divestitures
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2.5 | 66.7 | ||||||
Investment in unconsolidated affiliates, net
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(2.7 | ) | 1.0 | |||||
Cash used in investing activities
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(74.8 | ) | (13.9 | ) | ||||
Financing activities:
|
||||||||
Net short-term repayments
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(3.4 | ) | (66.9 | ) | ||||
Net repayments under long-term revolving credit facilities
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- | (5.0 | ) | |||||
Payments on long-term debt
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(16.7 | ) | (18.7 | ) | ||||
Treasury stock purchases
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(31.3 | ) | (64.8 | ) | ||||
Dividends paid to Equifax shareholders
|
(39.2 | ) | (9.9 | ) | ||||
Dividends paid to noncontrolling interests
|
(3.6 | ) | (2.3 | ) | ||||
Proceeds from exercise of stock options
|
12.3 | 12.4 | ||||||
Excess tax benefits from stock-based compensation plans
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0.6 | 1.4 | ||||||
Other
|
(2.6 | ) | (0.5 | ) | ||||
Cash used in financing activities
|
(83.9 | ) | (154.3 | ) | ||||
Effect of foreign currency exchange rates on cash and cash equivalents
|
1.0 | (3.7 | ) | |||||
Decrease in cash and cash equivalents
|
(10.7 | ) | (33.0 | ) | ||||
Cash and cash equivalents, beginning of period
|
119.4 | 103.1 | ||||||
Cash and cash equivalents, end of period
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$ | 108.7 | $ | 70.1 |
1.
|
Can you provide a further analysis of operating revenue and operating income by operating segment?
|
(in millions)
|
Three Months Ended June 30,
|
|||||||||||||||||||
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Local Currency
|
|||||||||||||||||||
Operating revenue:
|
2011
|
2010
|
$ Change
|
% Change
|
% Change*
|
|||||||||||||||
Online Consumer Information Solutions
|
$ | 127.6 | $ | 120.3 | $ | 7.3 | 6 | % | ||||||||||||
Mortgage Solutions
|
26.9 | 28.8 | (1.9 | ) | -6 | % | ||||||||||||||
Consumer Financial Marketing Services
|
39.5 | 35.5 | 4.0 | 11 | % | |||||||||||||||
Total U.S. Consumer Information Solutions
|
194.0 | 184.6 | 9.4 | 5 | % | |||||||||||||||
Latin America
|
59.3 | 56.7 | 2.6 | 5 | % | -1 | % | |||||||||||||
Europe
|
38.9 | 32.5 | 6.4 | 20 | % | 9 | % | |||||||||||||
Canada Consumer
|
32.6 | 29.0 | 3.6 | 12 | % | 5 | % | |||||||||||||
Total International
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130.8 | 118.2 | 12.6 | 11 | % | 4 | % | |||||||||||||
The Work Number
|
50.0 | 50.0 | 0.0 | 0 | % | |||||||||||||||
Tax and Talent Management Services
|
46.3 | 49.0 | (2.7 | ) | -5 | % | ||||||||||||||
Total TALX
|
96.3 | 99.0 | (2.7 | ) | -3 | % | ||||||||||||||
North America Personal Solutions
|
45.2 | 40.3 | 4.9 | 12 | % | |||||||||||||||
North America Commercial Solutions
|
20.8 | 18.6 | 2.2 | 12 | % | 10 | % | |||||||||||||
Total operating revenue
|
$ | 487.1 | $ | 460.7 | $ | 26.4 | 6 | % | 4 | % |
(in millions)
|
Six Months Ended June 30,
|
|||||||||||||||||||
Local Currency
|
||||||||||||||||||||
Operating revenue:
|
2011
|
2010
|
$ Change
|
% Change
|
% Change*
|
|||||||||||||||
Online Consumer Information Solutions
|
$ | 247.8 | $ | 240.0 | $ | 7.8 | 3 | % | ||||||||||||
Mortgage Solutions
|
54.2 | 52.0 | 2.2 | 4 | % | |||||||||||||||
Consumer Financial Marketing Services
|
73.0 | 65.7 | 7.3 | 11 | % | |||||||||||||||
Total U.S. Consumer Information Solutions
|
375.0 | 357.7 | 17.3 | 5 | % | |||||||||||||||
Latin America
|
119.2 | 111.8 | 7.4 | 7 | % | 2 | % | |||||||||||||
Europe
|
76.3 | 66.4 | 9.9 | 15 | % | 8 | % | |||||||||||||
Canada Consumer
|
62.5 | 56.2 | 6.3 | 11 | % | 5 | % | |||||||||||||
Total International
|
258.0 | 234.4 | 23.6 | 10 | % | 4 | % | |||||||||||||
The Work Number
|
103.5 | 99.7 | 3.8 | 4 | % | |||||||||||||||
Tax and Talent Management Services
|
92.2 | 94.6 | (2.4 | ) | -3 | % | ||||||||||||||
Total TALX
|
195.7 | 194.3 | 1.4 | 1 | % | |||||||||||||||
North America Personal Solutions
|
89.6 | 80.0 | 9.6 | 12 | % | |||||||||||||||
North America Commercial Solutions
|
41.4 | 37.3 | 4.1 | 11 | % | 9 | % | |||||||||||||
Total operating revenue
|
$ | 959.7 | $ | 903.7 | $ | 56.0 | 6 | % | 5 | % |
(in millions)
|
Three Months Ended June 30,
|
|||||||||||||||||||||||
Operating
|
Operating
|
|||||||||||||||||||||||
Operating income:
|
2011
|
Margin
|
2010
|
Margin
|
$ Change
|
% Change
|
||||||||||||||||||
U.S. Consumer Information Solutions
|
$ | 70.8 | 36.5 | % | $ | 68.3 | 37.1 | % | $ | 2.5 | 4 | % | ||||||||||||
International
|
34.2 | 26.1 | % | 30.1 | 25.4 | % | 4.1 | 14 | % | |||||||||||||||
TALX
|
20.8 | 21.6 | % | 23.0 | 23.2 | % | (2.2 | ) | -10 | % | ||||||||||||||
North America Personal Solutions
|
12.5 | 27.7 | % | 10.2 | 25.4 | % | 2.3 | 22 | % | |||||||||||||||
North America Commercial Solutions
|
4.4 | 20.9 | % | 3.7 | 20.2 | % | 0.7 | 16 | % | |||||||||||||||
General Corporate Expense
|
(28.1 | ) |
nm
|
(29.5 | ) |
nm
|
1.4 | 5 | % | |||||||||||||||
Total operating income
|
$ | 114.6 | 23.5 | % | $ | 105.8 | 23.0 | % | $ | 8.8 | 8 | % |
(in millions)
|
Six Months Ended June 30,
|
|||||||||||||||||||||||
Operating
|
Operating
|
|||||||||||||||||||||||
Operating income:
|
2011
|
Margin
|
2010
|
Margin
|
$ Change
|
% Change
|
||||||||||||||||||
U.S. Consumer Information Solutions
|
$ | 132.5 | 35.3 | % | $ | 128.4 | 35.9 | % | $ | 4.1 | 3 | % | ||||||||||||
International
|
64.0 | 24.8 | % | 58.8 | 25.1 | % | 5.2 | 9 | % | |||||||||||||||
TALX
|
42.5 | 21.7 | % | 44.5 | 22.9 | % | (2.0 | ) | -4 | % | ||||||||||||||
North America Personal Solutions
|
25.2 | 28.2 | % | 20.2 | 25.3 | % | 5.0 | 25 | % | |||||||||||||||
North America Commercial Solutions
|
9.5 | 22.9 | % | 8.1 | 21.9 | % | 1.4 | 16 | % | |||||||||||||||
General Corporate Expense
|
(50.0 | ) |
nm
|
(49.9 | ) |
nm
|
(0.1 | ) | 0 | % | ||||||||||||||
Total operating income
|
$ | 223.7 | 23.3 | % | $ | 210.1 | 23.3 | % | $ | 13.6 | 6 | % |
2.
|
What drove the fluctuation in the effective tax rate?
|
3.
|
Can you provide depreciation and amortization by segment?
|
Three Months Ended
|
Six Months Ended
|
|||||||||||||||
June 30,
|
June 30,
|
|||||||||||||||
2011
|
2010
|
2011
|
2010
|
|||||||||||||
U.S. Consumer Information Solutions
|
$ | 11.0 | $ | 9.9 | $ | 22.2 | $ | 19.9 | ||||||||
International
|
7.2 | 6.2 | 14.2 | 12.1 | ||||||||||||
TALX
|
16.1 | 16.8 | 33.6 | 33.4 | ||||||||||||
North America Personal Solutions
|
1.5 | 1.4 | 2.9 | 2.7 | ||||||||||||
North America Commercial Solutions
|
1.2 | 1.6 | 2.7 | 3.1 | ||||||||||||
General Corporate Expense
|
4.1 | 3.8 | 8.2 | 7.6 | ||||||||||||
Total depreciation and amortization
|
$ | 41.1 | $ | 39.7 | $ | 83.8 | $ | 78.8 |
4.
|
What was the currency impact on the foreign operations?
|
Three Months Ended June 30, 2011
|
||||||||||||||||
Operating Revenue
|
Operating Income
|
|||||||||||||||
Amount
|
%
|
Amount
|
%
|
|||||||||||||
Canada Consumer
|
$ | 1.9 | 7 | % | $ | 0.8 | 7 | % | ||||||||
Canada Commercial
|
0.4 | 7 | % | 0.2 | 7 | % | ||||||||||
Europe
|
3.7 | 11 | % | 0.7 | 11 | % | ||||||||||
Latin America
|
3.1 | 6 | % | 0.1 | 1 | % |
Six Months Ended June 30, 2011
|
||||||||||||||||
Operating Revenue
|
Operating Income
|
|||||||||||||||
Amount
|
%
|
Amount
|
%
|
|||||||||||||
Canada Consumer
|
$ | 3.5 | 6 | % | $ | 1.4 | 6 | % | ||||||||
Canada Commercial
|
0.7 | 6 | % | 0.3 | 6 | % | ||||||||||
Europe
|
4.3 | 7 | % | 0.8 | 7 | % | ||||||||||
Latin America
|
5.1 | 5 | % | - | 0 | % |
5.
|
What was the 2011 and 2010 quarterly revenue of Equifax Brazil? (Following the May 31, 2011 merger of Equifax Brazil into BVS in exchange for a minority interest in BVS, we will no longer include Brazilian revenues in our consolidated results.)
|
Brazil Revenue
|
||||
Q1 2011
|
$ | 19.3 | ||
Q2 2011
|
16.1 | |||
2011
|
$ | 35.4 | ||
Q1 2010
|
$ | 22.5 | ||
Q2 2010
|
20.9 | |||
Q3 2010
|
20.9 | |||
Q4 2010
|
19.8 | |||
2010
|
$ | 84.1 |
A.
|
Reconciliation of net income from continuing operations attributable to Equifax to diluted EPS from continuing operations attributable to Equifax, adjusted for the loss on the merger of Brazilian business and acquisition-related amortization expense:
|
Three Months Ended
|
||||||||||||||||
June 30,
|
||||||||||||||||
2011
|
2010
|
$ Change
|
% Change
|
|||||||||||||
Net income from continuing operations attributable to Equifax
|
34.5 | 57.7 | (23.2 | ) | -40 | % | ||||||||||
Loss on the merger of Brazilian business
|
27.8 | - | 27.8 |
nm
|
||||||||||||
Net income from continuing operations attributable to Equifax, adjusted for the loss on the merger of Brazilian business
|
62.3 | 57.7 | 4.6 | 8 | % | |||||||||||
Acquisition-related amortization expense, net of tax
|
14.2 | 14.1 | 0.1 | 1 | % | |||||||||||
Net income from continuing operations attributable to Equifax, adjusted for loss on the merger of Brazilian business and acquisition-related amortization expense
|
$ | 76.5 | $ | 71.8 | $ | 4.7 | 7 | % | ||||||||
Diluted EPS from continuing operations attributable to Equifax, adjusted for loss on the merger of Brazilian business and acquisition-related amortization expense
|
$ | 0.61 | $ | 0.56 | 0.05 | 9 | % | |||||||||
Weighted-average shares used in computing diluted EPS
|
124.6 | 127.3 |
Six Months Ended
|
||||||||||||||||
June 30,
|
||||||||||||||||
2011
|
2010
|
$ Change
|
% Change
|
|||||||||||||
Net income from continuing operations attributable to Equifax
|
91.8 | 111.7 | (19.9 | ) | -18 | % | ||||||||||
Loss on the merger of Brazilian business
|
27.8 | - | 27.8 |
nm
|
||||||||||||
Net income from continuing operations attributable to Equifax, adjusted for the loss on the merger of Brazilian business
|
119.6 | 111.7 | 7.9 | 7 | % | |||||||||||
Acquisition-related amortization expense, net of tax
|
29.0 | 28.1 | 0.9 | 3 | % | |||||||||||
Net income from continuing operations attributable to Equifax, adjusted for loss on the merger of Brazilian business and acquisition-related amortization expense
|
$ | 148.6 | $ | 139.8 | $ | 8.8 | 6 | % | ||||||||
Diluted EPS from continuing operations attributable to Equifax, adjusted for loss on the merger of Brazilian business and acquisition-related amortization expense
|
$ | 1.19 | $ | 1.09 | $ | 0.10 | 9 | % | ||||||||
Weighted-average shares used in computing diluted EPS
|
124.6 | 127.7 |
B.
|
Reconciliation of operating revenue to adjusted operating revenue for Equifax Inc., International and Latin America, excluding the results of our Brazilian operations:
|
Equifax Inc.
|
||||||||||||||||||||
Three Months Ended June 30,
|
Local Currency
|
|||||||||||||||||||
2011
|
2010
|
$ Change
|
% Change
|
% Change*
|
||||||||||||||||
Operating revenue
|
$ | 487.1 | $ | 460.7 | $ | 26.4 | 6 | % | 4 | % | ||||||||||
Brazil revenue
|
(16.1 | ) | (20.9 | ) | 4.8 | |||||||||||||||
Adjusted operating revenue
|
$ | 471.0 | $ | 439.8 | $ | 31.2 | 7 | % | 5 | % |
Six Months Ended June 30,
|
Local Currency
|
|||||||||||||||||||
2011
|
2010
|
$ Change
|
% Change
|
% Change*
|
||||||||||||||||
Operating revenue
|
$ | 959.7 | $ | 903.7 | $ | 56.0 | 6 | % | 5 | % | ||||||||||
Brazil revenue
|
(35.4 | ) | (43.4 | ) | 8.0 | |||||||||||||||
Adjusted operating revenue
|
$ | 924.3 | $ | 860.3 | $ | 64.0 | 7 | % | 6 | % |
International
|
||||||||||||||||||||
Three Months Ended June 30,
|
Local Currency
|
|||||||||||||||||||
2011
|
2010
|
$ Change
|
% Change
|
% Change*
|
||||||||||||||||
Operating revenue
|
$ | 130.8 | $ | 118.2 | $ | 12.6 | 11 | % | 4 | % | ||||||||||
Brazil revenue
|
(16.1 | ) | (20.9 | ) | 4.8 | |||||||||||||||
Adjusted operating revenue
|
$ | 114.7 | $ | 97.3 | $ | 17.4 | 18 | % | 11 | % |
Six Months Ended June 30,
|
Local Currency
|
|||||||||||||||||||
2011
|
2010
|
$ Change
|
% Change
|
% Change*
|
||||||||||||||||
Operating revenue
|
$ | 258.0 | $ | 234.4 | $ | 23.6 | 10 | % | 4 | % | ||||||||||
Brazil revenue
|
(35.4 | ) | (43.4 | ) | 8.0 | |||||||||||||||
Adjusted operating revenue
|
$ | 222.6 | $ | 191.0 | $ | 31.6 | 17 | % | 11 | % |
Latin America
|
||||||||||||||||||||
Three Months Ended June 30,
|
Local Currency
|
|||||||||||||||||||
2011
|
2010
|
$ Change
|
% Change
|
% Change*
|
||||||||||||||||
Operating revenue
|
$ | 59.3 | $ | 56.7 | $ | 2.6 | 5 | % | -1 | % | ||||||||||
Brazil revenue
|
(16.1 | ) | (20.9 | ) | 4.8 | |||||||||||||||
Adjusted operating revenue
|
$ | 43.2 | $ | 35.8 | $ | 7.4 | 21 | % | 17 | % |
Six Months Ended June 30,
|
Local Currency
|
|||||||||||||||||||
2011
|
2010
|
$ Change
|
% Change
|
% Change*
|
||||||||||||||||
Operating revenue
|
$ | 119.2 | $ | 111.8 | $ | 7.4 | 7 | % | 2 | % | ||||||||||
Brazil revenue
|
(35.4 | ) | (43.4 | ) | 8.0 | |||||||||||||||
Adjusted operating revenue
|
$ | 83.8 | $ | 68.4 | $ | 15.4 | 23 | % | 20 | % |