Equifax Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

ACQUISITIONS AND INVESTMENTS (Tables)

ACQUISITIONS AND INVESTMENTS (Tables)

12 Months Ended

Dec. 31, 2013

Estimated Fair Value of Net Assets Acquired and Liabilities Assumed at Acquisition Dates

The following table summarizes the estimated fair value of the net assets acquired and the liabilities assumed at the acquisition dates. The 2013 allocations are considered final, except for the resolution of certain contingencies all of which existed at the acquisition date, primarily related to working capital settlement, sales tax exposures and income tax accounts, which will be resolved when final returns are filed related to the acquired entities. Estimates for these items have been included in the purchase price allocations and will be finalized prior to the one year anniversary date of the acquisitions.

	December 31,
	2013		2012
	(In millions)
Current assets	$	12.9	$	21.3
Property and equipment		1.4		1.2
Other assets		5.9		0.1
Identifiable intangible assets ⁽¹⁾		46.4		524.7
Indefinite lived intangible assets		-		158.8
Goodwill ⁽²⁾		55.3		321.3
Total assets acquired		121.9		1,027.4
Total liabilities assumed		(19.9)		(7.4)
Non-controlling interest		(3.2)		(2.7)
Net assets acquired	$	98.8	$	1,017.3

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

(2)	Of the goodwill resulting from 2013 and 2012 acquisitions, $1.2 million and $309.3 million, respectively, is tax deductible.

Acquired Intangible Assets Fair Value and Weighted-Average Useful Life

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 future tax savings which are not recorded apart from goodwill, expanded growth opportunities from new or enhanced product offerings, 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,
	2013			2012
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	$	27.6	8.3	$	4.5	8.7
Acquired software and technology		4.2	4.3		0.7	5.7
Purchased data files		8.4	5.0		508.8	15.0
Non-compete agreements		3.1	4.0		10.3	4.9
Trade names and other intangible assets		3.1	6.3		0.4	5.0
Total acquired intangibles	$	46.4	6.9	$	524.7	14.7