Annual report pursuant to Section 13 and 15(d)

ACQUISITIONS AND INVESTMENTS

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ACQUISITIONS AND INVESTMENTS
 12 Months Ended
Dec. 31, 2015
Business Combinations [Abstract]  
ACQUISITIONS AND INVESTMENTS
ACQUISITIONS AND INVESTMENTS
 
2014 Acquisitions and Investments.   To further broaden our product offerings, we made two acquisitions during 2014.  During the first quarter of 2014, we acquired TDX, a data, technology and services company in the United Kingdom that specializes in debt collections and recovery management through the use of analytics, data exchanges and technology platforms. It was included as part of our International and USIS operating segments. During the first quarter of 2014, we also completed the acquisition of Forseva, a provider of end-to-end, cloud-based credit-management software solutions, that was included as part of our USIS operating segment.  The total purchase price of these acquisitions was $338.8 million.   

2013 Acquisitions and Investments.   To further broaden our product offerings, we made several acquisitions during 2013.  During the third quarter of 2013, we acquired TrustedID, a direct-to-consumer identity protection business that is included as part of our Personal Solutions business unit. During the fourth quarter of 2013, we also completed two acquisitions in Paraguay and Mexico in the Latin America region of our International segment.  The total purchase price of these acquisitions was $98.8 million.    
 
Purchase Price Allocation.   The following table summarizes the estimated fair value of the net assets acquired and the liabilities assumed at the acquisition dates.
 
 
December 31,
 
2015
 
2014
 
(In millions)
Current assets
$
—

 
$
39.1

Property and equipment
—

 
3.6

Identifiable intangible assets (1)
—

 
118.1

Goodwill (2)
—

 
240.7

Total assets acquired
—

 
401.5

Total liabilities assumed
—

 
(62.7
)
Net assets acquired
$
—

 
$
338.8

 
(1)
Identifiable intangible assets are further disaggregated in the following table.

(2)
None of the goodwill resulting from 2014 acquisitions is tax deductible.

The primary reasons the purchase price of these acquisitions exceeded the fair value of the net assets acquired, which resulted in the recognition of goodwill, were expanded growth opportunities from new or enhanced product offerings and geographies, cost savings from the elimination of duplicative activities, and the acquisition of an assembled workforce that are not recognized as assets apart from goodwill.
 
 
December 31,
 
 
2015
 
2014
Intangible asset category
 
Fair value
 
Weighted-average useful life
 
Fair value
 
Weighted-average useful life
 
 
(In millions)
 
(In years)
 
(In millions)
 
(In years)
Customer relationships
 
$
—

 
0.0
 
$
72.1

 
9.7
Acquired software and technology
 
—

 
0.0
 
21.7

 
4.6
Non-compete agreements
 
—

 
0.0
 
12.8

 
2.4
Trade names and other intangible assets
 
—

 
0.0
 
11.5

 
9.7
Total acquired intangibles
 
$
—

 
0.0
 
$
118.1

 
8.0