Annual report pursuant to Section 13 and 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2011
Reconciliation of Weighted-Average Outstanding Shares Used in Calculations of Basic and Diluted EPS

A reconciliation of the weighted-average outstanding shares used in the two calculations is as follows:

 

    Twelve Months Ended December 31,  
    2011     2010     2009  
    (In millions)  
Weighted-average shares outstanding (basic)     121.9       124.8       126.3  
Effect of dilutive securities:                        
Stock options and restricted stock units     1.8       1.7       1.6  
Weighted-average shares outstanding (diluted)     123.7       126.5       127.9
Useful Life of Other Purchased Intangible Assets

Predominantly all of our other purchased intangible assets are also amortized on a straight-line basis.

 

Asset   Useful Life
    (in years)
Purchased data files   2 to 15
Acquired software and technology   1 to 10
Non-compete agreements   1 to 10
Proprietary database   6 to 10
Customer relationships   2 to 25
Trade names   5 to 15
Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table presents assets and liabilities measured at fair value on a recurring basis:

 

          Fair Value Measurements at Reporting Date Using:  
                Significant        
          Quoted Prices in     Other     Significant  
          Active Markets for     Observable     Unobservable  
    Fair Value at     Identical Assets     Inputs     Inputs  
Description   December 31, 2011     (Level 1)     (Level 2)     (Level 3)  
    (In millions)  
Assets and Liabilities:                                
Fair Value Interest Rate Swaps (1)   $ 14.8     $ -     $ 14.8     $ -  
Notes, due 2014 (1)     (289.8 )     -       (289.8 )     -  
Deferred Compensation Plan  (2)     (14.1 )     -       (14.1 )     -  
Total assets and liabilities   $ (289.1 )   $ -     $ (289.1 )   $ -  

 

(1) The fair value of our interest rate swaps, designated as fair value hedges, and notes are based on the present value of expected future cash flows using zero coupon rates and are classified within Level 2 of the fair value hierarchy.

 

(2) We maintain deferred compensation plans that allow for certain management employees to defer the receipt of compensation (such as salary, incentive compensation and commissions) until a later date based on the terms of the plans. The liability representing benefits accrued for plan participants is valued at the quoted market prices of the participants’ investment elections.