Annual report pursuant to Section 13 and 15(d)

QUARTERLY FINANCIAL DATA (UNAUDITED)

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QUARTERLY FINANCIAL DATA (UNAUDITED)
 12 Months Ended
Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]  
QUARTERLY FINANCIAL DATA (UNAUDITED)
15.  QUARTERLY FINANCIAL DATA (UNAUDITED)
 
Quarterly financial data for 2013 and 2012 was as follows:
 
 
 
Three Months Ended
 
2013
 
March 31,
 
June 30,
 
September 30,
 
December 31,
 
 
 
(In millions, except per share data)
 
Operating revenue
 
$
566.5
 
$
586.9
 
$
572.0
 
$
578.5
 
Operating income
 
$
149.0
 
$
158.1
 
$
150.0
 
$
154.1
 
Consolidated income from continuing operations
 
$
84.2
 
$
92.3
 
$
86.1
 
$
78.9
 
Discontinued operations, net of tax
 
$
19.0
 
$
-
 
$
(0.6)
 
$
-
 
Consolidated net income
 
$
103.2
 
$
92.3
 
$
85.5
 
$
78.9
 
Net income attributable to Equifax
 
$
101.1
 
$
90.5
 
$
83.5
 
$
76.7
 
Basic earnings per common share*
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income from continuing operations attributable to Equifax
 
$
0.68
 
$
0.75
 
$
0.69
 
$
0.63
 
Discontinued operations attributable to Equifax
 
$
0.16
 
$
-
 
$
-
 
$
-
 
Net income attributable to Equifax
 
$
0.84
 
$
0.75
 
$
0.69
 
$
0.63
 
Diluted earnings per common share*
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income from continuing operations attributable to Equifax
 
$
0.67
 
$
0.73
 
$
0.67
 
$
0.62
 
Discontinued operations attributable to Equifax
 
$
0.15
 
$
-
 
$
-
 
$
-
 
Net income attributable to Equifax
 
$
0.82
 
$
0.73
 
$
0.67
 
$
0.62
 
 
 
 
Three Months Ended
 
2012
 
March 31,
 
June 30,
 
September 30,
 
December 31,
 
 
 
(In millions, except per share data)
 
Operating revenue
 
$
505.9
 
$
513.3
 
$
520.0
 
$
533.8
 
Operating income
 
$
128.3
 
$
129.0
 
$
130.5
 
$
92.2
 
Consolidated income from continuing operations
 
$
73.3
 
$
76.5
 
$
79.1
 
$
46.4
 
Discontinued operations, net of tax
 
$
0.4
 
$
2.3
 
$
1.0
 
$
1.8
 
Consolidated net income
 
$
73.7
 
$
78.8
 
$
80.1
 
$
48.2
 
Net income attributable to Equifax
 
$
71.5
 
$
76.4
 
$
77.9
 
$
46.3
 
Basic earnings per common share*
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income from continuing operations attributable to Equifax
 
$
0.59
 
$
0.61
 
$
0.64
 
$
0.37
 
Discontinued operations attributable to Equifax
 
$
0.01
 
$
0.02
 
$
0.01
 
$
0.02
 
Net income attributable to Equifax
 
$
0.60
 
$
0.63
 
$
0.65
 
$
0.39
 
Diluted earnings per common share*
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income from continuing operations attributable to Equifax
 
$
0.58
 
$
0.60
 
$
0.63
 
$
0.36
 
Discontinued operations attributable to Equifax
 
$
-
 
$
0.02
 
$
0.01
 
$
0.02
 
Net income attributable to Equifax
 
$
0.58
 
$
0.62
 
$
0.64
 
$
0.38
 
 
 
*
The sum of the quarterly EPS does not equal the annual EPS due to changes in the weighted-average shares between periods.
 
The comparability of our quarterly financial results during 2013 and 2012 was impacted by certain events, as follows:
 
 
•
During Q1 2013, we divested of two non-strategic business lines, Equifax Settlement Services and Talent Management Services for a total of $47.5 million.  For additional information, see Note 3 of the Notes to Consolidated Financial Statements.
 
 
•
During 2013 and 2012, we made several acquisitions, including the CSC Credit Services Acquisitions on December 28, 2012 which did not have a material impact on the results of the fourth quarter of 2012. For additional information about our acquisitions, see Note 4 of the Notes to Consolidated Financial Statements.
 
 
•
During the fourth quarter of 2012, we offered certain former U.S. employees a voluntary lump sum payment option of their pension benefits or a reduced monthly annuity. Approximately 64% of the vested terminated participants elected to receive the lump sum payment which resulted in a payment of $62.6 million. An amendment to the USRIP was also approved which froze future salary increases for non-grandfathered participants and offered a one-time 9% increase to the service benefit. The settlement and amendment resulted in a $38.7 million pension charge. For additional information, see Note 11 of the Notes to Consolidated Financial Statements.