Annual report pursuant to Section 13 and 15(d)

SEGMENT INFORMATION

v3.24.0.1
SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
 
Reportable Segments.  We manage our business and report our financial results through the following three reportable segments, which are the same as our operating segments:
 
•Workforce Solutions
•U.S. Information Solutions
•International

The accounting policies of the reportable segments are the same as those described in our summary of significant accounting policies (see Note 1). We evaluate the performance of these reportable segments based on their operating revenue, operating income and operating margins, excluding any unusual or infrequent items, if any. The measurement criteria for segment profit or loss and segment assets are substantially the same for each reportable segment. Inter-segment sales and transfers are not material for all periods presented. All transactions between segments are accounted for at fair market value or cost depending on the nature of the transaction and no timing differences occur between segments.
 
A summary of segment products and services is as follows:
 
Workforce Solutions.  This segment provides services enabling customers to verify income, employment, educational history, criminal justice data, healthcare professional licensure and sanctions of people in the U.S., as well as providing our employer customers with services that assist them in complying with and automating certain payroll-related and human resource management processes throughout the entire cycle of the employment relationship, including unemployment cost management, employee screening, employee onboarding, tax credits and incentives, I-9 management and compliance, immigration case management, tax form management services and Affordable Care Act management services.

U.S. Information Solutions.  This segment includes consumer and commercial information services (such as credit information and credit scoring, credit modeling services and portfolio analytics, locate services, fraud detection and prevention services, identity verification services and other consulting services); mortgage services; financial marketing services; identity management; and credit monitoring products sold to resellers or directly to consumers.
 
International.  We operate in the following regions: Asia Pacific, Europe, Canada and Latin America. The International segment includes information services products, which includes consumer and commercial services (such as credit and financial information, credit scoring and credit modeling services), credit and other marketing products and services. In Asia Pacific, Europe and Latin America, we also provide information, technology and services to support debt collections and recovery management. In Europe and Canada, we also provide credit monitoring products to resellers or directly to consumers.
 
Segment information for the twelve months ended December 31, 2023, 2022 and 2021 and as of December 31, 2023 and 2022 is as follows:
Twelve Months Ended
December 31,
Operating revenue: 2023 2022 2021
(In millions)
Workforce Solutions $ 2,315.8  $ 2,325.4  $ 2,035.4 
U.S. Information Solutions 1,720.4  1,657.7  1,786.7 
International 1,229.0  1,139.1  1,101.8 
Total operating revenue $ 5,265.2  $ 5,122.2  $ 4,923.9 
 
Twelve Months Ended
December 31,
Operating income: 2023 2022 2021
(In millions)
Workforce Solutions $ 969.3  $ 1,006.0  $ 1,000.7 
U.S. Information Solutions 365.0  402.1  551.8 
International 167.8  147.0  141.9 
General Corporate Expense (568.5) (499.1) (556.4)
Total operating income $ 933.6  $ 1,056.0  $ 1,138.0 
  December 31,
Total assets: 2023 2022
(In millions)
Workforce Solutions $ 4,144.7  $ 4,156.5 
U.S. Information Solutions 3,296.1  3,291.4 
International 3,909.0  3,106.8 
General Corporate 930.2  993.2 
Total assets $ 12,280.0  $ 11,547.9 
 
Twelve Months Ended
December 31,
Depreciation and amortization expense: 2023 2022 2021
(In millions)
Workforce Solutions $ 176.5  $ 162.2  $ 106.5 
U.S. Information Solutions 205.8  191.4  158.5 
International 147.6  132.0  141.1 
General Corporate 80.9  74.5  74.3 
Total depreciation and amortization expense $ 610.8  $ 560.1  $ 480.4 
 
Twelve Months Ended
December 31,
Capital expenditures: 2023 2022 2021
(In millions)
Workforce Solutions $ 127.5  $ 113.5  $ 73.5 
U.S. Information Solutions 131.3  125.7  92.9 
International 121.5  144.8  123.8 
General Corporate 205.5  233.4  200.3 
Total capital expenditures* $ 585.8  $ 617.4  $ 490.5 
*Amounts above include accruals for capital expenditures.
 
Financial information by geographic area is as follows:
Twelve Months Ended
December 31,
  2023 2022 2021
(In millions)
Operating revenue (based on location of customer): Amount % Amount % Amount %
U.S. $ 4,036.2  77  % $ 3,983.1  78  % $ 3,822.2  78  %
Australia 317.6  6  % 325.2  6  % 336.9  7  %
U.K. 265.8  5  % 265.5  5  % 252.0  5  %
Canada 259.6  5  % 256.1  5  % 250.0  5  %
Other 386.0  7  % 292.3  6  % 262.8  5  %
Total operating revenue $ 5,265.2  100  % $ 5,122.2  100  % $ 4,923.9  100  %

December 31,
  2023 2022
(In millions)
Long-lived assets: Amount % Amount %
U.S. $ 7,460.9  68  % $ 7,448.4  73  %
Australia 1,732.3  16  % 1,718.6  17  %
U.K. 283.9  3  % 263.6  3  %
Canada 224.2  2  % 200.4  2  %
Other 1,222.4  11  % 546.4  5  %
Total long-lived assets $ 10,923.7  100  % $ 10,177.4  100  %