Quarterly report pursuant to Section 13 or 15(d)

REVENUE (Tables)

v3.10.0.1
REVENUE (Tables)
 6 Months Ended
Jun. 30, 2018
Revenue Recognition and Deferred Revenue [Abstract]  
Impact of ASU 2014-09
The effect of the adoption on key financial statement line items for the three and six months ended June 30, 2018 is as follows:

 
 
Three Months Ended June 30, 2018
Change
Income Statement
 
Prior to ASU 2014-09 adoption
 
As reported under ASU 2014-09
 
$
 
%
 
 
(In millions, except per share data)
Operating revenue
 
$
876.5

 
$
876.9

 
$
0.4

 
—
%
Consolidated income from operations before income taxes
 
$
169.0

 
$
169.4

 
$
0.4

 
—
%
Consolidated net income
 
$
145.8

 
$
146.1

 
$
0.3

 
—
%
Net income attributable to Equifax
 
$
144.5

 
$
144.8

 
$
0.3

 
—
%
Basic earnings per common share:
 
 
 
 
 
 
 
 
Net income attributable to Equifax
 
$
1.20

 
$
1.20

 
$
—

 
—
%
Diluted earnings per common share:
 
 
 
 
 
 
 
 
Net income attributable to Equifax
 
$
1.19

 
$
1.19

 
$
—

 
—
%

 
 
Six Months Ended June 30, 2018
Change
Income Statement
 
Prior to ASU 2014-09 adoption
 
As reported under ASU 2014-09
 
$
 
%
 
 
(In millions, except per share data)
Operating revenue
 
$
1,741.6

 
$
1,742.6

 
$
1.0

 
—
%
Consolidated income from operations before income taxes
 
$
291.6

 
$
292.6

 
$
1.0

 
—
%
Consolidated net income
 
$
239.3

 
$
240.0

 
$
0.7

 
—
%
Net income attributable to Equifax
 
$
235.1

 
$
235.8

 
$
0.7

 
—
%
Basic earnings per common share:
 
 
 
 
 
 
 
 
Net income attributable to Equifax
 
$
1.95

 
$
1.96

 
$
0.01

 
1
%
Diluted earnings per common share:
 
 
 
 
 
 
 
 
Net income attributable to Equifax
 
$
1.94

 
$
1.94

 
$
—

 
—
%

 
 
June 30, 2018
Change
Balance Sheet
 
Prior to ASU 2014-09 adoption
 
As reported under ASU 2014-09
 
$
 
%
 
 
(In millions)
Other current assets
 
$
60.0

 
$
60.2

 
$
0.2

 
—
%
Other assets, net
 
$
139.8

 
$
146.0

 
$
6.2

 
4
%
Total assets
 
$
7,110.5

 
$
7,116.9

 
$
6.4

 
—
%
Deferred income tax liabilities, net
 
$
291.8

 
$
293.2

 
$
1.4

 
—
%
Total liabilities
 
$
3,835.8

 
$
3,837.2

 
$
1.4

 
—
%
Retained earnings
 
$
4,743.3

 
$
4,748.3

 
$
5.0

 
—
%
Total equity
 
$
3,274.7

 
$
3,279.7

 
$
5.0

 
—
%
Total liabilities and equity
 
$
7,110.5

 
$
7,116.9

 
$
6.4

 
—
%
Disaggregation of Revenue
Based on the information management reviews internally for evaluating operating segment performance and nature, amount, timing, and uncertainty of revenue and cash flows affected by economic factors, we disaggregate revenue as follows:

 
 
Three Months Ended June 30,
Change
 
Six Months Ended June 30,
Change
Consolidated Operating Revenue
 
2018
 
2017
 
$
 
%
 
2018
 
2017
 
$
 
%
 
 
(In millions)
Online Information Solutions
 
$
224.1

 
$
232.6

 
$
(8.5
)
 
(4
)%
 
$
443.8

 
$
457.7

 
$
(13.9
)
 
(3
)%
Mortgage Solutions
 
45.5

 
38.6

 
$
6.9

 
18
 %
 
87.2

 
77.3

 
$
9.9

 
13
 %
Financial Marketing Services
 
55.0

 
60.7

 
$
(5.7
)
 
(9
)%
 
100.5

 
107.0

 
$
(6.5
)
 
(6
)%
Total U.S. Information Solutions
 
324.6

 
331.9

 
$
(7.3
)
 
(2
)%
 
631.5

 
642.0

 
$
(10.5
)
 
(2
)%
Asia Pacific
 
86.1

 
76.5

 
$
9.6

 
12
 %
 
168.5

 
148.5

 
$
20.0

 
13
 %
Europe
 
72.3

 
68.5

 
$
3.8

 
6
 %
 
143.0

 
130.2

 
$
12.8

 
10
 %
Latin America
 
54.2

 
52.9

 
$
1.3

 
2
 %
 
110.1

 
104.0

 
$
6.1

 
6
 %
Canada
 
37.7

 
33.5

 
$
4.2

 
13
 %
 
73.2

 
65.0

 
$
8.2

 
13
 %
Total International
 
250.3

 
231.4

 
$
18.9

 
8
 %
 
494.8

 
447.7

 
$
47.1

 
11
 %
Verification Services
 
149.3

 
130.3

 
$
19.0

 
15
 %
 
277.7

 
245.4

 
$
32.3

 
13
 %
Employer Services
 
58.3

 
64.2

 
$
(5.9
)
 
(9
)%
 
141.0

 
149.1

 
$
(8.1
)
 
(5
)%
Total Workforce Solutions
 
207.6

 
194.5

 
$
13.1

 
7
 %
 
418.7

 
394.5

 
$
24.2

 
6
 %
Global Consumer Solutions
 
94.4

 
98.9

 
$
(4.5
)
 
(5
)%
 
197.6

 
204.8

 
$
(7.2
)
 
(4
)%
Total operating revenue
 
$
876.9

 
$
856.7

 
$
20.2

 
2
 %
 
$
1,742.6

 
$
1,689.0

 
$
53.6

 
3
 %
Remaining Performance Obligation
We expect to recognize as revenue the following amounts related to our remaining performance obligations as of June 30, 2018 inclusive of foreign exchange impact:
Performance Obligation
 
Balance
 
 
(In millions)
Less than 1 year
 
$
51.1

1 to 3 years
 
69.2

3 to 5 years
 
32.0

Thereafter
 
62.6

Total remaining performance obligation
 
$
214.9