Annual report pursuant to Section 13 and 15(d)

COST METHOD INVESTMENT

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COST METHOD INVESTMENT
12 Months Ended
Dec. 31, 2014
Investments, All Other Investments [Abstract]  
COST METHOD INVESTMENT
COST METHOD INVESTMENT
 
We hold a 15% equity interest in BVS,which is the second largest consumer and commercial credit information company in Brazil.  This investment is recorded in other assets, net, on the Consolidated Balance Sheets and is accounted for using the cost method. As of December 31, 2012, our investment in BVS was valued at 130 million Brazilian Reais, which is the same as the initial fair value. The initial fair value was determined by a third-party using income and market approaches.
  During the fourth quarter of 2013, management of BVS updated financial projections in connection with a request for additional financing.  The financial projections reflected the effects of reduced near-term market expectations for consumer credit and for credit information services in Brazil and increased investment to achieve the strategic objectives and capitalize on future market opportunities, such as positive data, resulting in reduced expected cash flows.  The request for financing, the projections received, along with the near-term weakness in the Brazilian consumer and small commercial credit markets were considered indicators of impairment.  Management of Equifax prepared an analysis to estimate the fair value of our investment at December 31, 2013 and estimated that value to be 90 million Reais ($38.2 million).  As a result, we wrote-down the carrying value of our investment and recorded a loss of 40 million Reais ($17.0 million) which is included in other income (expense) in the Consolidated Statements of Income. 
 
At December 31, 2014, we estimated the fair value of the investment approximated the fair value of the investment recorded.