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DISCONTINUED OPERATIONS
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6 Months Ended |
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Jun. 30, 2011
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| DISCONTINUED OPERATIONS |
3. DISCONTINUED OPERATIONS
On
April 23, 2010, we sold our APPRO loan origination software
business (“APPRO”) for $72 million. On July 1,
2010, we sold substantially all the assets of our Direct Marketing
Services division (“DMS”) for $117 million. Both
of these businesses were reported in our U.S. Consumer Information
Solutions segment. The historical results of these operations
for the three and six month periods ended June 30, 2010 are
classified as discontinued operations in the Consolidated
Statements of Income. Revenue for these businesses for the
three and six months ended June 30, 2010 was $18.5 million and
$42.1 million, respectively. Pretax income, excluding the
gain on the sale of APPRO, was $2.0 and $6.3 million for the three
and six months ended June 30, 2010. We recorded a gain from
the sale of APPRO in the second quarter of 2010 of $12.3 million,
after tax, which was classified as discontinued operations in the
Consolidated Statements.
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- Definition
The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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