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, 2012
Quarterly Financial Information Disclosure [Abstract]  
QUARTERLY FINANCIAL DATA (UNAUDITED)

13.  QUARTERLY FINANCIAL DATA (UNAUDITED)

 

Quarterly financial data for 2012 and 2011 was as follows:

 

    Three Months Ended  
2012   March 31,     June 30,     September 30,     December 31,  
    (In millions, except per share data)  
Operating revenue   $ 522.7     $ 535.8     $ 543.9     $ 558.1  
Operating income   $ 129.0     $ 132.7     $ 132.1     $ 95.2  
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*   $ 0.60     $ 0.64     $ 0.65     $ 0.39  
Diluted earnings per common share*   $ 0.58     $ 0.62     $ 0.64     $ 0.38  

 

    Three Months Ended  
2011   March 31,     June 30,     September 30,     December 31,  
    (In millions, except per share data)  
Operating revenue   $ 472.6     $ 487.1     $ 490.4     $ 509.7  
Operating income   $ 109.1     $ 114.6     $ 121.6     $ 125.7  
Consolidated income from continuing operations   $ 59.3     $ 37.1     $ 69.3     $ 74.5  
Discontinued operations, net of tax   $ -     $ -     $ -     $ 1.5  
Consolidated net income   $ 59.3     $ 37.1     $ 69.3     $ 76.0  
Net income attributable to Equifax   $ 57.3     $ 34.5     $ 66.7     $ 74.4  
Basic earnings per common share*                                
Net income from continuing operations attributable to Equifax   $ 0.47     $ 0.28     $ 0.55     $ 0.61  
Discontinued operations attributable to Equifax   $ -     $ -     $ -     $ 0.01  
Net income attributable to Equifax   $ 0.47     $ 0.28     $ 0.55     $ 0.62  
Diluted earnings per common share*                                
Net income from continuing operations attributable to Equifax   $ 0.46     $ 0.28     $ 0.54     $ 0.60  
Discontinued operations attributable to Equifax   $ -     $ -     $ -     $ 0.01  
Net income attributable to Equifax   $ 0.46     $ 0.28     $ 0.54     $ 0.61  

 

* 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 2012 and 2011 was impacted by certain events, as follows:

 

• During 2012 and 2011, we made several acquisitions, including CSC Credit Services during the fourth quarter of 2012 which did not have a material impact on the results of the quarter, and DataVision Resources during the third quarter of 2011. 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 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.

 

• During the second quarter of 2011, we completed the merger of our Brazilian business with Boa Vista Serviços S.A. (“BVS”) in exchange for a 15% equity interest in BVS, which was accounted for as a sale and deconsolidated (the “Brazilian Transaction”). For additional information about the merger, see Note 2 of the Notes to Consolidated Financial Statements.