Quarterly report pursuant to Section 13 or 15(d)

IMPAIRMENT OF INVESTMENT IN BOA VISTA SERVICOS

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IMPAIRMENT OF INVESTMENT IN BOA VISTA SERVICOS
3 Months Ended
Mar. 31, 2016
IMPAIRMENT OF COST METHOD INVESTMENT [Abstract]  
IMPAIRMENT OF INVESTMENT IN BOA VISTA SERVICOS
IMPAIRMENT OF INVESTMENT IN BOA VISTA SERVICOS
 
We hold a 15% equity interest in Boa Vista Servicos ("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, 2015 our investment in BVS was recorded at 44 million Brazilian Reais, which approximated the fair value. The fair value was determined by management using income and market approaches. The carrying value has decreased by $38.2 million related to the foreign exchange impact since 2011, which is included in the foreign currency translation adjustments in accumulated other comprehensive income. As of March 31, 2016, our investment in BVS, recorded at 44 million Reais ($12.3 million), approximated the fair value.