|
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☒
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QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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☐
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TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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Georgia
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58-0401110
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(State or other jurisdiction of
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(I.R.S. Employer
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incorporation or organization)
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Identification No.)
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1550 Peachtree Street
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N.W.
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Atlanta
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Georgia
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30309
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(Address of principal executive offices)
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(Zip Code)
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Title of each class
|
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Trading Symbol
|
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Name of each exchange on which registered
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Common stock, $1.25 par value per share
|
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EFX
|
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New York Stock Exchange
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Large accelerated filer
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Accelerated filer
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Non-accelerated filer
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Smaller reporting company
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Emerging growth company
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☒
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☐
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☐
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☐
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☐
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Page
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Three Months Ended
September 30, |
||||||
|
|
2019
|
|
2018
|
||||
(In millions, except per share amounts)
|
|
|
||||||
Operating revenue
|
|
$
|
875.7
|
|
|
$
|
834.2
|
|
Operating expenses:
|
|
|
|
|
|
|
||
Cost of services (exclusive of depreciation and amortization below)
|
|
374.5
|
|
|
376.7
|
|
||
Selling, general and administrative expenses
|
|
295.5
|
|
|
317.5
|
|
||
Depreciation and amortization
|
|
84.1
|
|
|
75.9
|
|
||
Total operating expenses
|
|
754.1
|
|
|
770.1
|
|
||
Operating income
|
|
121.6
|
|
|
64.1
|
|
||
Interest expense
|
|
(28.0
|
)
|
|
(26.7
|
)
|
||
Other income, net
|
|
2.9
|
|
|
1.3
|
|
||
Consolidated income before income taxes
|
|
96.5
|
|
|
38.7
|
|
||
(Provision) benefit for income taxes
|
|
(14.0
|
)
|
|
0.9
|
|
||
Consolidated net income
|
|
82.5
|
|
|
39.6
|
|
||
Less: Net income attributable to noncontrolling interests including redeemable noncontrolling interests
|
|
(1.4
|
)
|
|
(1.2
|
)
|
||
Net income attributable to Equifax
|
|
$
|
81.1
|
|
|
$
|
38.4
|
|
Basic earnings per common share:
|
|
|
|
|
|
|
||
Net income attributable to Equifax
|
|
$
|
0.67
|
|
|
$
|
0.32
|
|
Weighted-average shares used in computing basic earnings per share
|
|
121.0
|
|
|
120.5
|
|
||
Diluted earnings per common share:
|
|
|
|
|
|
|
||
Net income attributable to Equifax
|
|
$
|
0.66
|
|
|
$
|
0.32
|
|
Weighted-average shares used in computing diluted earnings per share
|
|
122.3
|
|
|
121.6
|
|
||
Dividends per common share
|
|
$
|
0.39
|
|
|
$
|
0.39
|
|
|
|
Nine Months Ended
September 30, |
||||||
|
|
2019
|
|
2018
|
||||
(In millions, except per share amounts)
|
|
|
||||||
Operating revenue
|
|
$
|
2,601.8
|
|
|
$
|
2,576.8
|
|
Operating expenses:
|
|
|
|
|
||||
Cost of services (exclusive of depreciation and amortization below)
|
|
1,138.9
|
|
|
1,068.2
|
|
||
Selling, general and administrative expenses
|
|
1,601.2
|
|
|
875.4
|
|
||
Depreciation and amortization
|
|
244.2
|
|
|
231.3
|
|
||
Total operating expenses
|
|
2,984.3
|
|
|
2,174.9
|
|
||
Operating (loss) income
|
|
(382.5
|
)
|
|
401.9
|
|
||
Interest expense
|
|
(82.3
|
)
|
|
(77.0
|
)
|
||
Other income, net
|
|
7.9
|
|
|
6.4
|
|
||
Consolidated (loss) income before income taxes
|
|
(456.9
|
)
|
|
331.3
|
|
||
Benefit (provision) for income taxes
|
|
53.3
|
|
|
(51.7
|
)
|
||
Consolidated net (loss) income
|
|
(403.6
|
)
|
|
279.6
|
|
||
Less: Net income attributable to noncontrolling interests including redeemable noncontrolling interests
|
|
(4.4
|
)
|
|
(5.4
|
)
|
||
Net (loss) income attributable to Equifax
|
|
$
|
(408.0
|
)
|
|
$
|
274.2
|
|
Basic earnings per common share:
|
|
|
|
|
||||
Net (loss) income attributable to Equifax
|
|
$
|
(3.38
|
)
|
|
$
|
2.28
|
|
Weighted-average shares used in computing basic earnings per share
|
|
120.8
|
|
|
120.3
|
|
||
Diluted earnings per common share:
|
|
|
|
|
||||
Net (loss) income attributable to Equifax
|
|
$
|
(3.35
|
)
|
|
$
|
2.26
|
|
Weighted-average shares used in computing diluted earnings per share
|
|
122.0
|
|
|
121.5
|
|
||
Dividends per common share
|
|
$
|
1.17
|
|
|
$
|
1.17
|
|
|
|
Three Months Ended September 30,
|
||||||||||||||||||||||
|
|
2019
|
|
2018
|
||||||||||||||||||||
|
|
Equifax
Shareholders
|
|
Noncontrolling
Interests
|
|
Total
|
|
Equifax
Shareholders
|
|
Noncontrolling
Interests
|
|
Total
|
||||||||||||
|
|
(In millions)
|
||||||||||||||||||||||
Net income
|
|
$
|
81.1
|
|
|
$
|
1.4
|
|
|
$
|
82.5
|
|
|
$
|
38.4
|
|
|
$
|
1.2
|
|
|
$
|
39.6
|
|
Other comprehensive (loss) income:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Foreign currency translation adjustment
|
|
(80.5
|
)
|
|
(1.4
|
)
|
|
(81.9
|
)
|
|
(43.2
|
)
|
|
(0.7
|
)
|
|
(43.9
|
)
|
||||||
Change in unrecognized prior service cost and actuarial losses related to our pension and other postretirement benefit plans, net
|
|
3.0
|
|
|
—
|
|
|
3.0
|
|
|
3.9
|
|
|
—
|
|
|
3.9
|
|
||||||
Comprehensive (loss) income
|
|
$
|
3.6
|
|
|
$
|
—
|
|
|
$
|
3.6
|
|
|
$
|
(0.9
|
)
|
|
$
|
0.5
|
|
|
$
|
(0.4
|
)
|
|
|
Nine Months Ended September 30,
|
||||||||||||||||||||||
|
|
2019
|
|
2018
|
||||||||||||||||||||
|
|
Equifax
Shareholders |
|
Noncontrolling
Interests |
|
Total
|
|
Equifax
Shareholders |
|
Noncontrolling
Interests |
|
Total
|
||||||||||||
|
|
(In millions)
|
||||||||||||||||||||||
Net (loss) income
|
|
$
|
(408.0
|
)
|
|
$
|
4.4
|
|
|
$
|
(403.6
|
)
|
|
$
|
274.2
|
|
|
$
|
5.4
|
|
|
$
|
279.6
|
|
Other comprehensive (loss) income:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Foreign currency translation adjustment
|
|
(100.3
|
)
|
|
(1.5
|
)
|
|
(101.8
|
)
|
|
(161.3
|
)
|
|
6.2
|
|
|
(155.1
|
)
|
||||||
Change in unrecognized prior service cost and actuarial losses related to our pension and other postretirement benefit plans, net
|
|
9.0
|
|
|
—
|
|
|
9.0
|
|
|
11.9
|
|
|
—
|
|
|
11.9
|
|
||||||
Change in cumulative loss from cash flow hedging transactions, net
|
|
0.1
|
|
|
—
|
|
|
0.1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Comprehensive (loss) income
|
|
$
|
(499.2
|
)
|
|
$
|
2.9
|
|
|
$
|
(496.3
|
)
|
|
$
|
124.8
|
|
|
$
|
11.6
|
|
|
$
|
136.4
|
|
|
|
September 30, 2019
|
|
December 31, 2018
|
||||
(In millions, except par values)
|
|
|
|
|
||||
ASSETS
|
|
|
|
|
|
|
||
Current assets:
|
|
|
|
|
|
|
||
Cash and cash equivalents
|
|
$
|
167.5
|
|
|
$
|
223.6
|
|
Trade accounts receivable, net of allowance for doubtful accounts of $12.5 and $10.9 at September 30, 2019 and December 31, 2018, respectively
|
|
516.6
|
|
|
469.1
|
|
||
Prepaid expenses
|
|
92.7
|
|
|
100.0
|
|
||
Other current assets
|
|
76.2
|
|
|
109.6
|
|
||
Total current assets
|
|
853.0
|
|
|
902.3
|
|
||
Property and equipment:
|
|
|
|
|
|
|
||
Capitalized internal-use software and system costs
|
|
899.9
|
|
|
684.1
|
|
||
Data processing equipment and furniture
|
|
346.4
|
|
|
344.6
|
|
||
Land, buildings and improvements
|
|
234.8
|
|
|
216.1
|
|
||
Total property and equipment
|
|
1,481.1
|
|
|
1,244.8
|
|
||
Less accumulated depreciation and amortization
|
|
(576.6
|
)
|
|
(480.0
|
)
|
||
Total property and equipment, net
|
|
904.5
|
|
|
764.8
|
|
||
Goodwill
|
|
4,227.3
|
|
|
4,129.7
|
|
||
Indefinite-lived intangible assets
|
|
94.8
|
|
|
94.8
|
|
||
Purchased intangible assets, net
|
|
1,052.0
|
|
|
1,099.2
|
|
||
Other assets, net
|
|
299.1
|
|
|
162.4
|
|
||
Total assets
|
|
$
|
7,430.7
|
|
|
$
|
7,153.2
|
|
LIABILITIES AND EQUITY
|
|
|
|
|
|
|||
Current liabilities:
|
|
|
|
|
|
|
||
Short-term debt and current maturities of long-term debt
|
|
$
|
372.0
|
|
|
$
|
4.9
|
|
Accounts payable
|
|
135.4
|
|
|
175.7
|
|
||
Accrued expenses
|
|
184.4
|
|
|
213.2
|
|
||
Accrued salaries and bonuses
|
|
114.6
|
|
|
131.0
|
|
||
Deferred revenue
|
|
97.9
|
|
|
98.0
|
|
||
Other current liabilities
|
|
587.5
|
|
|
204.0
|
|
||
Total current liabilities
|
|
1,491.8
|
|
|
826.8
|
|
||
Long-term debt
|
|
2,834.7
|
|
|
2,630.6
|
|
||
Deferred income tax liabilities, net
|
|
250.3
|
|
|
316.2
|
|
||
Long-term pension and other postretirement benefit liabilities
|
|
130.6
|
|
|
139.3
|
|
||
Other long-term liabilities
|
|
164.2
|
|
|
84.6
|
|
||
Total liabilities
|
|
4,871.6
|
|
|
3,997.5
|
|
||
Commitments and Contingencies (see Note 6)
|
|
|
|
|
|
|
||
Equifax shareholders' equity:
|
|
|
|
|
|
|||
Preferred stock, $0.01 par value: Authorized shares - 10.0; Issued shares - none
|
|
—
|
|
|
—
|
|
||
Common stock, $1.25 par value: Authorized shares - 300.0;
Issued shares - 189.3 at September 30, 2019 and December 31, 2018; Outstanding shares - 121.1 and 120.6 at September 30, 2019 and December 31, 2018, respectively |
|
236.6
|
|
|
236.6
|
|
||
Paid-in capital
|
|
1,392.6
|
|
|
1,356.6
|
|
||
Retained earnings
|
|
4,170.4
|
|
|
4,717.8
|
|
||
Accumulated other comprehensive loss
|
|
(717.5
|
)
|
|
(626.3
|
)
|
||
Treasury stock, at cost, 67.6 shares and 68.1 shares at September 30, 2019 and December 31, 2018, respectively
|
|
(2,560.4
|
)
|
|
(2,571.0
|
)
|
||
Stock held by employee benefit trusts, at cost, 0.6 shares at September 30, 2019 and December 31, 2018
|
|
(5.9
|
)
|
|
(5.9
|
)
|
||
Total Equifax shareholders’ equity
|
|
2,515.8
|
|
|
3,107.8
|
|
||
Noncontrolling interests including redeemable noncontrolling interests
|
|
43.3
|
|
|
47.9
|
|
||
Total equity
|
|
2,559.1
|
|
|
3,155.7
|
|
||
Total liabilities and equity
|
|
$
|
7,430.7
|
|
|
$
|
7,153.2
|
|
|
|
Nine Months Ended September 30,
|
||||||
|
|
2019
|
|
2018
|
||||
|
|
(In millions)
|
||||||
Operating activities:
|
|
|
|
|
|
|
||
Consolidated net (loss) income
|
|
$
|
(403.6
|
)
|
|
$
|
279.6
|
|
Adjustments to reconcile consolidated net (loss) income to net cash provided by operating activities:
|
|
|
|
|
|
|
||
Depreciation and amortization
|
|
248.8
|
|
|
235.3
|
|
||
Stock-based compensation expense
|
|
40.6
|
|
|
32.8
|
|
||
Deferred income taxes
|
|
(81.7
|
)
|
|
(13.4
|
)
|
||
Changes in assets and liabilities, excluding effects of acquisitions:
|
|
|
|
|
|
|||
Accounts receivable, net
|
|
(49.9
|
)
|
|
(32.1
|
)
|
||
Other assets, current and long-term
|
|
32.6
|
|
|
33.7
|
|
||
Current and long term liabilities, excluding debt
|
|
296.3
|
|
|
(28.5
|
)
|
||
Cash provided by operating activities
|
|
83.1
|
|
|
507.4
|
|
||
Investing activities:
|
|
|
|
|
|
|||
Capital expenditures
|
|
(305.7
|
)
|
|
(208.1
|
)
|
||
Acquisitions, net of cash acquired
|
|
(234.8
|
)
|
|
(115.8
|
)
|
||
Cash received from sale of asset
|
|
—
|
|
|
5.6
|
|
||
Investment in unconsolidated affiliates, net
|
|
(25.0
|
)
|
|
(6.9
|
)
|
||
Cash used in investing activities
|
|
(565.5
|
)
|
|
(325.2
|
)
|
||
Financing activities:
|
|
|
|
|
|
|||
Net short-term borrowings (repayments)
|
|
367.0
|
|
|
(960.9
|
)
|
||
Payments on long-term debt
|
|
(50.0
|
)
|
|
(100.0
|
)
|
||
Borrowings on long-term debt
|
|
250.0
|
|
|
994.5
|
|
||
Dividends paid to Equifax shareholders
|
|
(141.4
|
)
|
|
(140.8
|
)
|
||
Dividends paid to noncontrolling interests
|
|
(4.8
|
)
|
|
(8.7
|
)
|
||
Proceeds from exercise of stock options
|
|
15.3
|
|
|
11.3
|
|
||
Payment of taxes related to settlement of equity awards
|
|
(9.7
|
)
|
|
(18.8
|
)
|
||
Purchase of redeemable noncontrolling interests
|
|
—
|
|
|
(23.5
|
)
|
||
Debt issuance costs
|
|
—
|
|
|
(7.6
|
)
|
||
Payment of contingent consideration
|
|
—
|
|
|
(1.5
|
)
|
||
Cash provided by (used in) financing activities
|
|
426.4
|
|
|
(256.0
|
)
|
||
Effect of foreign currency exchange rates on cash and cash equivalents
|
|
(0.1
|
)
|
|
(9.2
|
)
|
||
Decrease in cash and cash equivalents
|
|
(56.1
|
)
|
|
(83.0
|
)
|
||
Cash and cash equivalents, beginning of period
|
|
223.6
|
|
|
336.4
|
|
||
Cash and cash equivalents, end of period
|
|
$
|
167.5
|
|
|
$
|
253.4
|
|
|
|
Equifax Shareholders
|
|
|
|
|
|||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
Accumulated Other Comprehensive Loss
|
|
|
|
Stock
Held By Employee Benefits Trusts
|
|
|
|
|
|||||||||||||||||
|
|
Common Stock
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
|
|
Shares
Outstanding
|
|
Amount
|
|
Paid-In
Capital
|
|
Retained
Earnings
|
|
|
Treasury
Stock
|
|
|
Noncontrolling
Interests
|
|
Total
Equity
|
|||||||||||||||||||
|
|
(In millions, except per share amounts)
|
|||||||||||||||||||||||||||||||||
Balance, June 30, 2019
|
|
120.9
|
|
|
$
|
236.6
|
|
|
$
|
1,381.5
|
|
|
$
|
4,135.5
|
|
|
$
|
(640.0
|
)
|
|
$
|
(2,564.3
|
)
|
|
$
|
(5.9
|
)
|
|
$
|
44.5
|
|
|
$
|
2,587.9
|
|
Net income
|
|
—
|
|
|
—
|
|
|
—
|
|
|
81.1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1.4
|
|
|
82.5
|
|
||||||||
Other comprehensive (loss)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(77.5
|
)
|
|
—
|
|
|
—
|
|
|
(1.4
|
)
|
|
(78.9
|
)
|
||||||||
Shares issued under stock and benefit plans, net of minimum tax withholdings
|
|
0.2
|
|
|
—
|
|
|
0.1
|
|
|
—
|
|
|
—
|
|
|
3.9
|
|
|
—
|
|
|
—
|
|
|
4.0
|
|
||||||||
Cash dividends ($0.39 per share)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(47.4
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(47.4
|
)
|
||||||||
Dividends paid to employee benefits trusts
|
|
—
|
|
|
—
|
|
|
0.2
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
0.2
|
|
||||||||
Stock-based compensation expense
|
|
—
|
|
|
—
|
|
|
10.8
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
10.8
|
|
||||||||
Redeemable noncontrolling interest adjustment
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1.2
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(1.2
|
)
|
|
—
|
|
||||||||
Balance, September 30, 2019
|
|
121.1
|
|
|
$
|
236.6
|
|
|
$
|
1,392.6
|
|
|
$
|
4,170.4
|
|
|
$
|
(717.5
|
)
|
|
$
|
(2,560.4
|
)
|
|
$
|
(5.9
|
)
|
|
$
|
43.3
|
|
|
$
|
2,559.1
|
|
|
|
Equifax Shareholders
|
|
|
|
|
|||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
Accumulated Other Comprehensive Loss
|
|
|
|
Stock
Held By Employee Benefits Trusts
|
|
|
|
|
|||||||||||||||||
|
|
Common Stock
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
|
|
Shares
Outstanding
|
|
Amount
|
|
Paid-In
Capital
|
|
Retained
Earnings
|
|
|
Treasury
Stock
|
|
|
Noncontrolling
Interests
|
|
Total
Equity
|
|||||||||||||||||||
|
|
(In millions, except per share amounts)
|
|||||||||||||||||||||||||||||||||
Balance, June 30, 2018
|
|
120.4
|
|
|
$
|
236.6
|
|
|
$
|
1,339.8
|
|
|
$
|
4,748.3
|
|
|
$
|
(522.0
|
)
|
|
$
|
(2,574.2
|
)
|
|
$
|
(5.9
|
)
|
|
$
|
57.1
|
|
|
$
|
3,279.7
|
|
Net income
|
|
—
|
|
|
—
|
|
|
—
|
|
|
38.4
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1.2
|
|
|
39.6
|
|
||||||||
Other comprehensive (loss) income
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(39.4
|
)
|
|
—
|
|
|
—
|
|
|
(0.7
|
)
|
|
(40.1
|
)
|
||||||||
Shares issued under stock and benefit plans, net of minimum tax withholdings
|
|
0.2
|
|
|
—
|
|
|
(2.2
|
)
|
|
—
|
|
|
—
|
|
|
1.9
|
|
|
—
|
|
|
—
|
|
|
(0.3
|
)
|
||||||||
Cash dividends ($0.39 per share)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(47.2
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(47.2
|
)
|
||||||||
Dividends paid to employee benefits trusts
|
|
—
|
|
|
—
|
|
|
0.2
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
0.2
|
|
||||||||
Stock-based compensation expense
|
|
—
|
|
|
—
|
|
|
12.1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
12.1
|
|
||||||||
Purchases of redeemable noncontrolling interests
|
|
—
|
|
|
—
|
|
|
(2.5
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(2.5
|
)
|
||||||||
Redeemable noncontrolling interest adjustment
|
|
—
|
|
|
—
|
|
|
—
|
|
|
0.6
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(0.6
|
)
|
|
—
|
|
||||||||
Balance, September 30, 2018
|
|
120.6
|
|
|
$
|
236.6
|
|
|
$
|
1,347.4
|
|
|
$
|
4,740.1
|
|
|
$
|
(561.4
|
)
|
|
$
|
(2,572.3
|
)
|
|
$
|
(5.9
|
)
|
|
$
|
57.0
|
|
|
$
|
3,241.5
|
|
|
|
Equifax Shareholders
|
|
|
|
|
|||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
Accumulated Other Comprehensive Loss
|
|
|
|
Stock
Held By Employee Benefits Trusts
|
|
|
|
|
|||||||||||||||||
|
|
Common Stock
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
|
|
Shares
Outstanding
|
|
Amount
|
|
Paid-In
Capital
|
|
Retained
Earnings
|
|
|
Treasury
Stock
|
|
|
Noncontrolling
Interests
|
|
Total
Equity
|
|||||||||||||||||||
|
|
(In millions, except per share amounts)
|
|||||||||||||||||||||||||||||||||
Balance, December 31, 2018
|
|
120.6
|
|
|
$
|
236.6
|
|
|
$
|
1,356.6
|
|
|
$
|
4,717.8
|
|
|
$
|
(626.3
|
)
|
|
$
|
(2,571.0
|
)
|
|
$
|
(5.9
|
)
|
|
$
|
47.9
|
|
|
$
|
3,155.7
|
|
Net (loss) income
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(408.0
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
4.4
|
|
|
(403.6
|
)
|
||||||||
Other comprehensive (loss)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(91.2
|
)
|
|
—
|
|
|
—
|
|
|
(1.5
|
)
|
|
(92.7
|
)
|
||||||||
Shares issued under stock and benefit plans, net of minimum tax withholdings
|
|
0.5
|
|
|
—
|
|
|
(5.3
|
)
|
|
—
|
|
|
—
|
|
|
10.6
|
|
|
—
|
|
|
—
|
|
|
5.3
|
|
||||||||
Cash dividends ($1.17 per share)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(142.1
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(142.1
|
)
|
||||||||
Dividends paid to employee benefits trusts
|
|
—
|
|
|
—
|
|
|
0.7
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
0.7
|
|
||||||||
Stock-based compensation expense
|
|
—
|
|
|
—
|
|
|
40.6
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
40.6
|
|
||||||||
Redeemable noncontrolling interest adjustment
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2.7
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(2.7
|
)
|
|
—
|
|
||||||||
Dividends paid to noncontrolling interests
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(4.8
|
)
|
|
(4.8
|
)
|
||||||||
Balance, September 30, 2019
|
|
121.1
|
|
|
$
|
236.6
|
|
|
$
|
1,392.6
|
|
|
$
|
4,170.4
|
|
|
$
|
(717.5
|
)
|
|
$
|
(2,560.4
|
)
|
|
$
|
(5.9
|
)
|
|
$
|
43.3
|
|
|
$
|
2,559.1
|
|
|
|
Equifax Shareholders
|
|
|
|
|
|||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
Accumulated Other Comprehensive Loss
|
|
|
|
Stock
Held By Employee Benefits Trusts
|
|
|
|
|
|||||||||||||||||
|
|
Common Stock
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
|
|
Shares
Outstanding
|
|
Amount
|
|
Paid-In
Capital
|
|
Retained
Earnings
|
|
|
Treasury
Stock
|
|
|
Noncontrolling
Interests
|
|
Total
Equity
|
|||||||||||||||||||
|
|
(In millions, except per share amounts)
|
|||||||||||||||||||||||||||||||||
Balance, December 31, 2017
|
|
120.1
|
|
|
$
|
236.6
|
|
|
$
|
1,332.7
|
|
|
$
|
4,600.6
|
|
|
$
|
(412.0
|
)
|
|
$
|
(2,577.6
|
)
|
|
$
|
(5.9
|
)
|
|
$
|
64.6
|
|
|
$
|
3,239.0
|
|
Net income
|
|
—
|
|
|
—
|
|
|
—
|
|
|
274.2
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
5.4
|
|
|
279.6
|
|
||||||||
Other comprehensive (loss) income
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(141.4
|
)
|
|
—
|
|
|
—
|
|
|
6.2
|
|
|
(135.2
|
)
|
||||||||
Shares issued under stock and benefit plans, net of minimum tax withholdings
|
|
0.5
|
|
|
—
|
|
|
(12.5
|
)
|
|
—
|
|
|
—
|
|
|
5.3
|
|
|
—
|
|
|
—
|
|
|
(7.2
|
)
|
||||||||
Cash dividends ($1.17 per share)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(141.5
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(141.5
|
)
|
||||||||
Dividends paid to employee benefits trusts
|
|
—
|
|
|
—
|
|
|
0.7
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
0.7
|
|
||||||||
Stock-based compensation expense
|
|
—
|
|
|
—
|
|
|
32.8
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
32.8
|
|
||||||||
Purchases of redeemable noncontrolling interests
|
|
—
|
|
|
—
|
|
|
(6.3
|
)
|
|
—
|
|
|
(8.0
|
)
|
|
—
|
|
|
—
|
|
|
(7.9
|
)
|
|
(22.2
|
)
|
||||||||
Redeemable noncontrolling interest adjustment
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2.6
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(2.6
|
)
|
|
—
|
|
||||||||
Dividends paid to noncontrolling interests
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(8.7
|
)
|
|
(8.7
|
)
|
||||||||
Cumulative adjustment from change in accounting principle (Note 2)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
4.2
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
4.2
|
|
||||||||
Balance, September 30, 2018
|
|
120.6
|
|
|
$
|
236.6
|
|
|
$
|
1,347.4
|
|
|
$
|
4,740.1
|
|
|
$
|
(561.4
|
)
|
|
$
|
(2,572.3
|
)
|
|
$
|
(5.9
|
)
|
|
$
|
57.0
|
|
|
$
|
3,241.5
|
|
|
|
September 30, 2019
|
|
December 31, 2018
|
||||
|
|
(In millions)
|
||||||
Foreign currency translation
|
|
$
|
(428.3
|
)
|
|
$
|
(328.0
|
)
|
Unrecognized actuarial losses and prior service cost related to our pension and other postretirement benefit plans, net of accumulated tax of $90.7 and $93.1 at September 30, 2019 and December 31, 2018, respectively
|
|
(288.1
|
)
|
|
(297.1
|
)
|
||
Cash flow hedging transactions, net of accumulated tax of $0.7 at September 30, 2019 and December 31, 2018, respectively
|
|
(1.1
|
)
|
|
(1.2
|
)
|
||
Accumulated other comprehensive loss
|
|
$
|
(717.5
|
)
|
|
$
|
(626.3
|
)
|
|
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||||||
|
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||
|
|
(In millions)
|
||||||||||
Weighted-average shares outstanding (basic)
|
|
121.0
|
|
|
120.5
|
|
|
120.8
|
|
|
120.3
|
|
Effect of dilutive securities:
|
|
|
|
|
|
|
|
|
|
|||
Stock options and restricted stock units
|
|
1.3
|
|
|
1.1
|
|
|
1.2
|
|
|
1.2
|
|
Weighted-average shares outstanding (diluted)
|
|
122.3
|
|
|
121.6
|
|
|
122.0
|
|
|
121.5
|
|
|
|
Three Months Ended September 30,
|
|
Change
|
|
Nine Months Ended September 30,
|
|
Change
|
||||||||||||||||||||||
Consolidated Operating Revenue
|
|
2019
|
|
2018
|
|
$
|
|
%
|
|
2019
|
|
2018
|
|
$
|
|
%
|
||||||||||||||
|
|
(In millions)
|
||||||||||||||||||||||||||||
Online Information Solutions
|
|
$
|
233.0
|
|
|
$
|
222.4
|
|
|
$
|
10.6
|
|
|
5
|
%
|
|
$
|
696.7
|
|
|
$
|
666.2
|
|
|
$
|
30.5
|
|
|
5
|
%
|
Mortgage Solutions
|
|
36.7
|
|
|
39.0
|
|
|
$
|
(2.3
|
)
|
|
(6
|
)%
|
|
104.4
|
|
|
126.2
|
|
|
$
|
(21.8
|
)
|
|
(17
|
)%
|
||||
Financial Marketing Services
|
|
45.8
|
|
|
46.9
|
|
|
$
|
(1.1
|
)
|
|
(2
|
)%
|
|
145.4
|
|
|
147.4
|
|
|
$
|
(2.0
|
)
|
|
(1
|
)%
|
||||
Total U.S. Information Solutions
|
|
315.5
|
|
|
308.3
|
|
|
$
|
7.2
|
|
|
2
|
%
|
|
946.5
|
|
|
939.8
|
|
|
$
|
6.7
|
|
|
1
|
%
|
||||
Asia Pacific
|
|
77.4
|
|
|
80.5
|
|
|
$
|
(3.1
|
)
|
|
(4
|
)%
|
|
226.4
|
|
|
249.0
|
|
|
$
|
(22.6
|
)
|
|
(9
|
)%
|
||||
Europe
|
|
64.8
|
|
|
68.5
|
|
|
$
|
(3.7
|
)
|
|
(5
|
)%
|
|
199.3
|
|
|
211.4
|
|
|
$
|
(12.1
|
)
|
|
(6
|
)%
|
||||
Latin America
|
|
49.2
|
|
|
48.7
|
|
|
$
|
0.5
|
|
|
1
|
%
|
|
144.0
|
|
|
158.9
|
|
|
$
|
(14.9
|
)
|
|
(9
|
)%
|
||||
Canada
|
|
39.1
|
|
|
37.3
|
|
|
$
|
1.8
|
|
|
5
|
%
|
|
114.9
|
|
|
110.5
|
|
|
$
|
4.4
|
|
|
4
|
%
|
||||
Total International
|
|
230.5
|
|
|
235.0
|
|
|
$
|
(4.5
|
)
|
|
(2
|
)%
|
|
684.6
|
|
|
729.8
|
|
|
$
|
(45.2
|
)
|
|
(6
|
)%
|
||||
Verification Services
|
|
185.3
|
|
|
143.9
|
|
|
$
|
41.4
|
|
|
29
|
%
|
|
506.5
|
|
|
421.6
|
|
|
$
|
84.9
|
|
|
20
|
%
|
||||
Employer Services
|
|
55.3
|
|
|
58.3
|
|
|
$
|
(3.0
|
)
|
|
(5
|
)%
|
|
192.7
|
|
|
199.3
|
|
|
$
|
(6.6
|
)
|
|
(3
|
)%
|
||||
Total Workforce Solutions
|
|
240.6
|
|
|
202.2
|
|
|
$
|
38.4
|
|
|
19
|
%
|
|
699.2
|
|
|
620.9
|
|
|
$
|
78.3
|
|
|
13
|
%
|
||||
Global Consumer Solutions
|
|
89.1
|
|
|
88.7
|
|
|
$
|
0.4
|
|
|
—
|
%
|
|
271.5
|
|
|
286.3
|
|
|
$
|
(14.8
|
)
|
|
(5
|
)%
|
||||
Total operating revenue
|
|
$
|
875.7
|
|
|
$
|
834.2
|
|
|
$
|
41.5
|
|
|
5
|
%
|
|
$
|
2,601.8
|
|
|
$
|
2,576.8
|
|
|
$
|
25.0
|
|
|
1
|
%
|
Performance Obligation
|
|
Amount
|
||
|
|
(In millions)
|
||
Less than 1 year
|
|
$
|
33.0
|
|
1 to 3 years
|
|
45.2
|
|
|
3 to 5 years
|
|
23.3
|
|
|
Thereafter
|
|
49.5
|
|
|
Total remaining performance obligation
|
|
$
|
151.0
|
|
|
|
September 30, 2019
|
|
Change
|
|||||||||||
Balance Sheet
|
|
Prior to ASU 2016-02 adoption
|
|
As reported under ASU 2016-02
|
|
$
|
|
%
|
|||||||
|
|
(In millions)
|
|
|
|||||||||||
Prepaid expenses
|
|
$
|
94.5
|
|
|
$
|
92.7
|
|
|
$
|
(1.8
|
)
|
|
(2
|
)%
|
Other assets, net
|
|
$
|
194.6
|
|
|
$
|
299.1
|
|
|
$
|
104.5
|
|
|
54
|
%
|
Total assets
|
|
$
|
7,328.0
|
|
|
$
|
7,430.7
|
|
|
$
|
102.7
|
|
|
1
|
%
|
Other current liabilities
|
|
$
|
566.9
|
|
|
$
|
587.5
|
|
|
$
|
20.6
|
|
|
4
|
%
|
Other long-term liabilities
|
|
$
|
82.1
|
|
|
$
|
164.2
|
|
|
$
|
82.1
|
|
|
100
|
%
|
Total liabilities
|
|
$
|
4,768.9
|
|
|
$
|
4,871.6
|
|
|
$
|
102.7
|
|
|
2
|
%
|
Nine Months Ended September 30, 2019
|
|
Amount
|
||
(in millions, except lease term and discount rate)
|
|
|
||
Supplemental Cash Flows Information
|
|
|
||
Cash paid for amounts included in the measurement of lease liabilities:
|
|
|
||
Operating cash flows used by operating leases
|
|
$
|
14.7
|
|
Right-of-use assets obtained in exchange for lease obligations (non-cash):
|
|
|
||
Operating leases
|
|
$
|
2.7
|
|
|
|
|
||
Weighted Average Remaining Lease Term
|
|
6.1 years
|
|
|
Weighted Average Discount Rate
|
|
4.4
|
%
|
Years ending December 31,
|
|
Amount
|
||
|
|
(In millions)
|
||
2019
|
|
$
|
8.1
|
|
2020
|
|
29.1
|
|
|
2021
|
|
24.0
|
|
|
2022
|
|
21.2
|
|
|
2023
|
|
18.5
|
|
|
Thereafter
|
|
37.2
|
|
|
|
|
$
|
138.1
|
|
|
|
|
International
|
|
Workforce
Solutions |
|
Global Consumer Solutions
|
|
Total
|
|||||||||||
|
|
(In millions)
|
||||||||||||||||||
Balance, December 31, 2018
|
|
$
|
1,128.9
|
|
|
$
|
1,844.7
|
|
|
$
|
970.2
|
|
|
$
|
185.9
|
|
|
$
|
4,129.7
|
|
Acquisitions
|
|
153.7
|
|
|
2.1
|
|
|
14.3
|
|
|
—
|
|
|
170.1
|
|
|||||
Adjustments to initial purchase price allocation
|
|
(2.2
|
)
|
|
3.1
|
|
|
0.1
|
|
|
—
|
|
|
1.0
|
|
|||||
Foreign currency translation
|
|
—
|
|
|
(72.0
|
)
|
|
—
|
|
|
(1.5
|
)
|
|
(73.5
|
)
|
|||||
Balance, September 30, 2019
|
|
$
|
1,280.4
|
|
|
$
|
1,777.9
|
|
|
$
|
984.6
|
|
|
$
|
184.4
|
|
|
$
|
4,227.3
|
|
|
|
September 30, 2019
|
|
December 31, 2018
|
||||||||||||||||||||
|
|
Gross
|
|
Accumulated
Amortization
|
|
Net
|
|
Gross
|
|
Accumulated
Amortization
|
|
Net
|
||||||||||||
Definite-lived intangible assets:
|
|
(In millions)
|
||||||||||||||||||||||
Purchased data files
|
|
$
|
892.7
|
|
|
$
|
(334.6
|
)
|
|
$
|
558.1
|
|
|
$
|
911.4
|
|
|
$
|
(298.7
|
)
|
|
$
|
612.7
|
|
Acquired software and technology
|
|
107.5
|
|
|
(77.6
|
)
|
|
29.9
|
|
|
130.3
|
|
|
(84.1
|
)
|
|
46.2
|
|
||||||
Customer relationships
|
|
675.2
|
|
|
(307.0
|
)
|
|
368.2
|
|
|
693.1
|
|
|
(295.2
|
)
|
|
397.9
|
|
||||||
Reacquired rights
|
|
—
|
|
|
—
|
|
|
—
|
|
|
73.3
|
|
|
(73.3
|
)
|
|
—
|
|
||||||
Proprietary database
|
|
104.2
|
|
|
(19.6
|
)
|
|
84.6
|
|
|
46.3
|
|
|
(12.5
|
)
|
|
33.8
|
|
||||||
Non-compete agreements
|
|
7.5
|
|
|
(3.3
|
)
|
|
4.2
|
|
|
3.8
|
|
|
(2.2
|
)
|
|
1.6
|
|
||||||
Trade names and other intangible assets
|
|
19.8
|
|
|
(12.8
|
)
|
|
7.0
|
|
|
18.7
|
|
|
(11.7
|
)
|
|
7.0
|
|
||||||
Total definite-lived intangible assets
|
|
$
|
1,806.9
|
|
|
$
|
(754.9
|
)
|
|
$
|
1,052.0
|
|
|
$
|
1,876.9
|
|
|
$
|
(777.7
|
)
|
|
$
|
1,099.2
|
|
Years ending December 31,
|
|
Amount
|
||
|
|
(In millions)
|
||
2019
|
|
$
|
34.9
|
|
2020
|
|
133.7
|
|
|
2021
|
|
117.1
|
|
|
2022
|
|
111.6
|
|
|
2023
|
|
110.4
|
|
|
Thereafter
|
|
544.3
|
|
|
|
|
$
|
1,052.0
|
|
|
|
September 30, 2019
|
|
December 31, 2018
|
||||
|
|
(In millions)
|
||||||
Commercial paper
|
|
$
|
368.0
|
|
|
$
|
—
|
|
Receivables Funding Facility
|
|
200.0
|
|
|
—
|
|
||
Notes, 2.30%, due June 2021
|
|
500.0
|
|
|
500.0
|
|
||
Notes, 3.60%, due Aug 2021
|
|
300.0
|
|
|
300.0
|
|
||
Notes, Floating Rate, due Aug 2021
|
|
300.0
|
|
|
300.0
|
|
||
Notes, 3.30%, due Dec 2022
|
|
500.0
|
|
|
500.0
|
|
||
Notes, 3.95%, due May 2023
|
|
400.0
|
|
|
400.0
|
|
||
Notes, 3.25%, due June 2026
|
|
275.0
|
|
|
275.0
|
|
||
Debentures, 6.90%, due July 2028
|
|
125.0
|
|
|
125.0
|
|
||
Notes, 7.00%, due July 2037
|
|
250.0
|
|
|
250.0
|
|
||
Other
|
|
4.0
|
|
|
4.9
|
|
||
Total debt
|
|
3,222.0
|
|
|
2,654.9
|
|
||
Less short-term debt and current maturities
|
|
(372.0
|
)
|
|
(4.9
|
)
|
||
Less unamortized discounts and debt issuance costs
|
|
(15.3
|
)
|
|
(19.4
|
)
|
||
Total long-term debt, net
|
|
$
|
2,834.7
|
|
|
$
|
2,630.6
|
|
|
|
Foreign
currency |
|
Pension and other
postretirement benefit plans |
|
Cash flow
hedging transactions |
|
Total
|
||||||||
|
|
(In millions)
|
||||||||||||||
Balance, December 31, 2018
|
|
$
|
(328.0
|
)
|
|
$
|
(297.1
|
)
|
|
$
|
(1.2
|
)
|
|
$
|
(626.3
|
)
|
Other comprehensive income (loss) before reclassifications
|
|
(100.3
|
)
|
|
—
|
|
|
0.1
|
|
|
(100.2
|
)
|
||||
Amounts reclassified from accumulated other comprehensive income
|
|
—
|
|
|
9.0
|
|
|
—
|
|
|
9.0
|
|
||||
Net current-period other comprehensive income
|
|
(100.3
|
)
|
|
9.0
|
|
|
0.1
|
|
|
(91.2
|
)
|
||||
Balance, September 30, 2019
|
|
$
|
(428.3
|
)
|
|
$
|
(288.1
|
)
|
|
$
|
(1.1
|
)
|
|
$
|
(717.5
|
)
|
Details about accumulated other
comprehensive income (loss) components |
|
Amount reclassified
from accumulated other comprehensive income (loss) |
|
Affected line item in
the statement where net income is presented |
||
|
|
(In millions)
|
|
|
||
Amortization of pension and other postretirement plan items:
|
|
|
|
|
|
|
Prior service cost
|
|
$
|
(0.6
|
)
|
|
(1)
|
Recognized actuarial loss
|
|
12.0
|
|
|
(1)
|
|
|
|
11.4
|
|
|
Total before tax
|
|
|
|
(2.4
|
)
|
|
Tax benefit
|
|
|
|
$
|
9.0
|
|
|
Net of tax
|
|
|
Pension Benefits
|
|
Other Benefits
|
||||||||||||
|
|
Three Months Ended September 30,
|
||||||||||||||
|
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||||||
|
|
(In millions)
|
||||||||||||||
Service cost
|
|
$
|
0.7
|
|
|
$
|
0.9
|
|
|
$
|
0.1
|
|
|
$
|
0.1
|
|
Interest cost
|
|
7.1
|
|
|
6.7
|
|
|
0.2
|
|
|
0.2
|
|
||||
Expected return on plan assets
|
|
(9.0
|
)
|
|
(9.6
|
)
|
|
(0.2
|
)
|
|
(0.3
|
)
|
||||
Amortization of prior service cost
|
|
0.1
|
|
|
0.1
|
|
|
(0.3
|
)
|
|
(0.3
|
)
|
||||
Recognized actuarial loss
|
|
3.7
|
|
|
5.0
|
|
|
0.3
|
|
|
0.4
|
|
||||
Total net periodic benefit cost
|
|
$
|
2.6
|
|
|
$
|
3.1
|
|
|
$
|
0.1
|
|
|
$
|
0.1
|
|
|
|
Pension Benefits
|
|
Other Benefits
|
||||||||||||
|
|
Nine Months Ended September 30,
|
||||||||||||||
|
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||||||
|
|
(In millions)
|
||||||||||||||
Service cost
|
|
$
|
2.1
|
|
|
$
|
2.7
|
|
|
$
|
0.3
|
|
|
$
|
0.3
|
|
Interest cost
|
|
21.3
|
|
|
20.1
|
|
|
0.6
|
|
|
0.6
|
|
||||
Expected return on plan assets
|
|
(27.0
|
)
|
|
(28.8
|
)
|
|
(0.6
|
)
|
|
(0.9
|
)
|
||||
Amortization of prior service cost
|
|
0.3
|
|
|
0.3
|
|
|
(0.9
|
)
|
|
(0.9
|
)
|
||||
Recognized actuarial loss
|
|
11.1
|
|
|
15.0
|
|
|
0.9
|
|
|
1.2
|
|
||||
Total net periodic benefit cost
|
|
$
|
7.8
|
|
|
$
|
9.3
|
|
|
$
|
0.3
|
|
|
$
|
0.3
|
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
(In millions)
|
|
September 30,
|
|
September 30,
|
||||||||||||
Operating revenue:
|
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||||||
U.S. Information Solutions
|
|
$
|
315.5
|
|
|
$
|
308.3
|
|
|
$
|
946.5
|
|
|
$
|
939.8
|
|
International
|
|
230.5
|
|
|
235.0
|
|
|
684.6
|
|
|
729.8
|
|
||||
Workforce Solutions
|
|
240.6
|
|
|
202.2
|
|
|
699.2
|
|
|
620.9
|
|
||||
Global Consumer Solutions
|
|
89.1
|
|
|
88.7
|
|
|
271.5
|
|
|
286.3
|
|
||||
Total operating revenue
|
|
$
|
875.7
|
|
|
$
|
834.2
|
|
|
$
|
2,601.8
|
|
|
$
|
2,576.8
|
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
(In millions)
|
|
September 30,
|
|
September 30,
|
||||||||||||
Operating income:
|
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||||||
U.S. Information Solutions
|
|
$
|
98.2
|
|
|
$
|
95.4
|
|
|
$
|
312.2
|
|
|
$
|
332.5
|
|
International
|
|
26.0
|
|
|
19.2
|
|
|
59.9
|
|
|
92.9
|
|
||||
Workforce Solutions
|
|
99.6
|
|
|
77.0
|
|
|
291.4
|
|
|
251.0
|
|
||||
Global Consumer Solutions
|
|
11.9
|
|
|
12.2
|
|
|
36.2
|
|
|
61.3
|
|
||||
General Corporate Expense
|
|
(114.1
|
)
|
|
(139.7
|
)
|
|
(1,082.2
|
)
|
|
(335.8
|
)
|
||||
Total operating (loss) income
|
|
$
|
121.6
|
|
|
$
|
64.1
|
|
|
$
|
(382.5
|
)
|
|
$
|
401.9
|
|
|
|
September 30,
|
|
December 31,
|
||||
(In millions)
|
|
2019
|
|
2018
|
||||
Total assets:
|
|
|
|
|
||||
U.S. Information Solutions
|
|
$
|
1,922.9
|
|
|
$
|
1,654.8
|
|
International
|
|
2,868.6
|
|
|
2,959.1
|
|
||
Workforce Solutions
|
|
1,295.0
|
|
|
1,249.5
|
|
||
Global Consumer Solutions
|
|
269.0
|
|
|
255.0
|
|
||
General Corporate
|
|
1,075.2
|
|
|
1,034.8
|
|
||
Total assets
|
|
$
|
7,430.7
|
|
|
$
|
7,153.2
|
|
|
|
Key Performance Indicators
|
||||||||||||||
|
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||||||||||
|
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||||||
|
|
(In millions, except per share data)
|
|
(In millions, except per share data)
|
||||||||||||
Operating revenue
|
|
$
|
875.7
|
|
|
$
|
834.2
|
|
|
$
|
2,601.8
|
|
|
$
|
2,576.8
|
|
Operating revenue change
|
|
5
|
%
|
|
—
|
%
|
|
1
|
%
|
|
2
|
%
|
||||
Operating income (loss)
|
|
$
|
121.6
|
|
|
$
|
64.1
|
|
|
$
|
(382.5
|
)
|
|
$
|
401.9
|
|
Operating margin
|
|
13.9
|
%
|
|
7.7
|
%
|
|
(14.7
|
)%
|
|
15.6
|
%
|
||||
Net income (loss) attributable to Equifax
|
|
$
|
81.1
|
|
|
$
|
38.4
|
|
|
$
|
(408.0
|
)
|
|
$
|
274.2
|
|
Diluted earnings per share
|
|
$
|
0.66
|
|
|
$
|
0.32
|
|
|
$
|
(3.35
|
)
|
|
$
|
2.26
|
|
Cash provided by operating activities
|
|
$
|
(164.9
|
)
|
|
$
|
152.6
|
|
|
$
|
83.1
|
|
|
$
|
507.4
|
|
Capital expenditures*
|
|
$
|
(87.8
|
)
|
|
$
|
(101.6
|
)
|
|
$
|
(285.9
|
)
|
|
$
|
(250.4
|
)
|
•
|
We did not repurchase shares of our common stock during the first nine months of 2019. At September 30, 2019, $590.1 million was available for future purchases of common stock under our share repurchase authorization.
|
•
|
We paid out $141.4 million or $1.17 per share in dividends to our shareholders during the first nine months of 2019.
|
|
|
Three Months Ended September 30,
|
|
Change
|
|
Nine Months Ended September 30,
|
|
Change
|
||||||||||||||||||||||
Consolidated Operating Revenue
|
|
2019
|
|
2018
|
|
$
|
|
%
|
|
2019
|
|
2018
|
|
$
|
|
%
|
||||||||||||||
|
|
(In millions)
|
|
(In millions)
|
||||||||||||||||||||||||||
U.S. Information Solutions
|
|
$
|
315.5
|
|
|
$
|
308.3
|
|
|
$
|
7.2
|
|
|
2
|
%
|
|
$
|
946.5
|
|
|
$
|
939.8
|
|
|
$
|
6.7
|
|
|
1
|
%
|
International
|
|
230.5
|
|
|
235.0
|
|
|
(4.5
|
)
|
|
(2
|
)%
|
|
684.6
|
|
|
729.8
|
|
|
(45.2
|
)
|
|
(6
|
)%
|
||||||
Workforce Solutions
|
|
240.6
|
|
|
202.2
|
|
|
38.4
|
|
|
19
|
%
|
|
699.2
|
|
|
620.9
|
|
|
78.3
|
|
|
13
|
%
|
||||||
Global Consumer Solutions
|
|
89.1
|
|
|
88.7
|
|
|
0.4
|
|
|
—
|
%
|
|
271.5
|
|
|
286.3
|
|
|
(14.8
|
)
|
|
(5
|
)%
|
||||||
Consolidated operating revenue
|
|
$
|
875.7
|
|
|
$
|
834.2
|
|
|
$
|
41.5
|
|
|
5
|
%
|
|
$
|
2,601.8
|
|
|
$
|
2,576.8
|
|
|
$
|
25.0
|
|
|
1
|
%
|
|
|
Three Months Ended September 30,
|
|
Change
|
|
Nine Months Ended September 30,
|
|
Change
|
||||||||||||||||||||||
Consolidated Operating Expenses
|
|
2019
|
|
2018
|
|
$
|
|
%
|
|
2019
|
|
2018
|
|
$
|
|
%
|
||||||||||||||
|
|
(In millions)
|
|
(In millions)
|
||||||||||||||||||||||||||
Consolidated cost of services
|
|
$
|
374.5
|
|
|
$
|
376.7
|
|
|
$
|
(2.2
|
)
|
|
(1
|
)%
|
|
$
|
1,138.9
|
|
|
$
|
1,068.2
|
|
|
$
|
70.7
|
|
|
7
|
%
|
Consolidated selling, general and administrative expenses
|
|
295.5
|
|
|
317.5
|
|
|
(22.0
|
)
|
|
(7
|
)%
|
|
1,601.2
|
|
|
875.4
|
|
|
725.8
|
|
|
83
|
%
|
||||||
Consolidated depreciation and amortization expense
|
|
84.1
|
|
|
75.9
|
|
|
8.2
|
|
|
11
|
%
|
|
244.2
|
|
|
231.3
|
|
|
12.9
|
|
|
6
|
%
|
||||||
Consolidated operating expenses
|
|
$
|
754.1
|
|
|
$
|
770.1
|
|
|
$
|
(16.0
|
)
|
|
(2
|
)%
|
|
$
|
2,984.3
|
|
|
$
|
2,174.9
|
|
|
$
|
809.4
|
|
|
37
|
%
|
|
|
Three Months Ended September 30,
|
|
Change
|
|
Nine Months Ended September 30,
|
|
Change
|
||||||||||||||||||||||
Consolidated Operating Income (Loss)
|
|
2019
|
|
2018
|
|
$
|
|
%
|
|
2019
|
|
2018
|
|
$
|
|
%
|
||||||||||||||
|
|
(In millions)
|
|
|
|
(In millions)
|
|
|
||||||||||||||||||||||
Consolidated operating revenue
|
|
$
|
875.7
|
|
|
$
|
834.2
|
|
|
$
|
41.5
|
|
|
5
|
%
|
|
$
|
2,601.8
|
|
|
$
|
2,576.8
|
|
|
$
|
25.0
|
|
|
1
|
%
|
Consolidated operating expenses
|
|
754.1
|
|
|
770.1
|
|
|
(16.0
|
)
|
|
(2
|
)%
|
|
2,984.3
|
|
|
2,174.9
|
|
|
809.4
|
|
|
37
|
%
|
||||||
Consolidated operating income (loss)
|
|
$
|
121.6
|
|
|
$
|
64.1
|
|
|
$
|
57.5
|
|
|
90
|
%
|
|
$
|
(382.5
|
)
|
|
$
|
401.9
|
|
|
$
|
(784.4
|
)
|
|
(195
|
)%
|
Consolidated operating margin
|
|
13.9
|
%
|
|
7.7
|
%
|
|
|
|
|
6.2
|
pts
|
|
(14.7
|
)%
|
|
15.6
|
%
|
|
|
|
(30.3
|
) pts
|
|
|
Three Months Ended September 30,
|
|
Change
|
|
Nine Months Ended September 30,
|
|
Change
|
||||||||||||||||||||||
Consolidated Interest Expense and Other Income, net
|
|
2019
|
|
2018
|
|
$
|
|
%
|
|
2019
|
|
2018
|
|
$
|
|
%
|
||||||||||||||
|
|
(In millions)
|
|
|
|
(In millions)
|
|
|
||||||||||||||||||||||
Consolidated interest expense
|
|
$
|
(28.0
|
)
|
|
$
|
(26.7
|
)
|
|
$
|
(1.3
|
)
|
|
5
|
%
|
|
$
|
(82.3
|
)
|
|
$
|
(77.0
|
)
|
|
$
|
(5.3
|
)
|
|
7
|
%
|
Consolidated other income (expense), net
|
|
2.9
|
|
|
1.3
|
|
|
1.6
|
|
|
nm
|
|
|
7.9
|
|
|
6.4
|
|
|
1.5
|
|
|
nm
|
|
||||||
Average cost of debt
|
|
3.7
|
%
|
|
4.1
|
%
|
|
|
|
|
|
|
3.9
|
%
|
|
3.8
|
%
|
|
|
|
|
|
||||||||
Total consolidated debt, net, at quarter end
|
|
$
|
3,206.7
|
|
|
$
|
2,632.5
|
|
|
$
|
574.2
|
|
|
22
|
%
|
|
$
|
3,206.7
|
|
|
$
|
2,632.5
|
|
|
$
|
574.2
|
|
|
22
|
%
|
|
|
Three Months Ended September 30,
|
|
Change
|
|
Nine Months Ended September 30,
|
|
Change
|
||||||||||||||||||||||
Consolidated (Provision) Benefit for Income Taxes
|
|
2019
|
|
2018
|
|
$
|
|
%
|
|
2019
|
|
2018
|
|
$
|
|
%
|
||||||||||||||
|
|
(In millions)
|
|
|
|
(In millions)
|
|
|
||||||||||||||||||||||
Consolidated (provision) benefit for income taxes
|
|
$
|
(14.0
|
)
|
|
$
|
0.9
|
|
|
$
|
(14.9
|
)
|
|
(1,656
|
)%
|
|
$
|
53.3
|
|
|
$
|
(51.7
|
)
|
|
$
|
105.0
|
|
|
(203
|
)%
|
Effective income tax rate
|
|
14.5
|
%
|
|
(2.3
|
)%
|
|
|
|
|
|
|
|
11.7
|
%
|
|
15.6
|
%
|
|
|
|
|
|
|
Three Months Ended September 30,
|
|
Change
|
|
Nine Months Ended September 30,
|
|
Change
|
||||||||||||||||||||||
Consolidated Net Income (Loss)
|
|
2019
|
|
2018
|
|
$
|
|
%
|
|
2019
|
|
2018
|
|
$
|
|
%
|
||||||||||||||
|
|
(In millions, except per share amounts)
|
|
|
|
(In millions, except per share amounts)
|
|
|
||||||||||||||||||||||
Consolidated operating income (loss)
|
|
$
|
121.6
|
|
|
$
|
64.1
|
|
|
$
|
57.5
|
|
|
90
|
%
|
|
$
|
(382.5
|
)
|
|
$
|
401.9
|
|
|
$
|
(784.4
|
)
|
|
(195
|
)%
|
Consolidated other expense, net
|
|
(25.1
|
)
|
|
(25.4
|
)
|
|
0.3
|
|
|
(1
|
)%
|
|
(74.4
|
)
|
|
(70.6
|
)
|
|
(3.8
|
)
|
|
5
|
%
|
||||||
Consolidated (provision) benefit for income taxes
|
|
(14.0
|
)
|
|
0.9
|
|
|
(14.9
|
)
|
|
(1,656
|
)%
|
|
53.3
|
|
|
(51.7
|
)
|
|
105.0
|
|
|
(203
|
)%
|
||||||
Consolidated net income (loss)
|
|
82.5
|
|
|
39.6
|
|
|
42.9
|
|
|
108
|
%
|
|
(403.6
|
)
|
|
279.6
|
|
|
(683.2
|
)
|
|
(244
|
)%
|
||||||
Net income attributable to noncontrolling interests
|
|
(1.4
|
)
|
|
(1.2
|
)
|
|
(0.2
|
)
|
|
17
|
%
|
|
(4.4
|
)
|
|
(5.4
|
)
|
|
1.0
|
|
|
(18
|
)%
|
||||||
Net income (loss) attributable to Equifax
|
|
$
|
81.1
|
|
|
$
|
38.4
|
|
|
$
|
42.7
|
|
|
111
|
%
|
|
$
|
(408.0
|
)
|
|
$
|
274.2
|
|
|
$
|
(682.2
|
)
|
|
(249
|
)%
|
Diluted earnings per common share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Net income (loss) attributable to Equifax
|
|
$
|
0.66
|
|
|
$
|
0.32
|
|
|
$
|
0.34
|
|
|
106
|
%
|
|
$
|
(3.35
|
)
|
|
$
|
2.26
|
|
|
$
|
(5.61
|
)
|
|
(248
|
)%
|
Weighted-average shares used in computing diluted earnings per share
|
|
122.3
|
|
|
121.6
|
|
|
|
|
|
|
|
|
122.0
|
|
|
121.5
|
|
|
|
|
|
|
|
|
Three Months Ended September 30,
|
|
Change
|
|
Nine Months Ended September 30,
|
|
Change
|
||||||||||||||||||||||
U.S. Information Solutions
|
|
2019
|
|
2018
|
|
$
|
|
%
|
|
2019
|
|
2018
|
|
$
|
|
%
|
||||||||||||||
|
|
(In millions)
|
|
|
|
(In millions)
|
|
|
||||||||||||||||||||||
Operating revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Online Information Solutions
|
|
$
|
233.0
|
|
|
$
|
222.4
|
|
|
$
|
10.6
|
|
|
5
|
%
|
|
$
|
696.7
|
|
|
$
|
666.2
|
|
|
$
|
30.5
|
|
|
5
|
%
|
Mortgage Solutions
|
|
36.7
|
|
|
39.0
|
|
|
(2.3
|
)
|
|
(6
|
)%
|
|
104.4
|
|
|
126.2
|
|
|
(21.8
|
)
|
|
(17
|
)%
|
||||||
Financial Marketing Services
|
|
45.8
|
|
|
46.9
|
|
|
(1.1
|
)
|
|
(2
|
)%
|
|
145.4
|
|
|
147.4
|
|
|
(2.0
|
)
|
|
(1
|
)%
|
||||||
Total operating revenue
|
|
$
|
315.5
|
|
|
$
|
308.3
|
|
|
$
|
7.2
|
|
|
2
|
%
|
|
$
|
946.5
|
|
|
$
|
939.8
|
|
|
$
|
6.7
|
|
|
1
|
%
|
% of consolidated revenue
|
|
36
|
%
|
|
37
|
%
|
|
|
|
|
|
|
|
36
|
%
|
|
37
|
%
|
|
|
|
|
|
|
||||||
Total operating income
|
|
$
|
98.2
|
|
|
$
|
95.4
|
|
|
$
|
2.8
|
|
|
3
|
%
|
|
$
|
312.2
|
|
|
$
|
332.5
|
|
|
$
|
(20.3
|
)
|
|
(6
|
)%
|
Operating margin
|
|
31.1
|
%
|
|
30.9
|
%
|
|
|
|
|
0.2
|
pts
|
|
33.0
|
%
|
|
35.4
|
%
|
|
|
|
|
(2.4
|
)pts
|
|
|
Three Months Ended September 30,
|
|
Change
|
|
Nine Months Ended September 30,
|
|
Change
|
||||||||||||||||||||||
International
|
|
2019
|
|
2018
|
|
$
|
|
%
|
|
2019
|
|
2018
|
|
$
|
|
%
|
||||||||||||||
|
|
(In millions)
|
|
|
|
(In millions)
|
|
|
||||||||||||||||||||||
Operating revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Asia Pacific
|
|
$
|
77.4
|
|
|
$
|
80.5
|
|
|
$
|
(3.1
|
)
|
|
(4
|
)%
|
|
$
|
226.4
|
|
|
$
|
249.0
|
|
|
$
|
(22.6
|
)
|
|
(9
|
)%
|
Europe
|
|
64.8
|
|
|
68.5
|
|
|
(3.7
|
)
|
|
(5
|
)%
|
|
199.3
|
|
|
211.4
|
|
|
(12.1
|
)
|
|
(6
|
)%
|
||||||
Latin America
|
|
49.2
|
|
|
48.7
|
|
|
0.5
|
|
|
1
|
%
|
|
144.0
|
|
|
158.9
|
|
|
(14.9
|
)
|
|
(9
|
)%
|
||||||
Canada
|
|
39.1
|
|
|
37.3
|
|
|
1.8
|
|
|
5
|
%
|
|
114.9
|
|
|
110.5
|
|
|
4.4
|
|
|
4
|
%
|
||||||
Total operating revenue
|
|
$
|
230.5
|
|
|
$
|
235.0
|
|
|
$
|
(4.5
|
)
|
|
(2
|
)%
|
|
$
|
684.6
|
|
|
$
|
729.8
|
|
|
$
|
(45.2
|
)
|
|
(6
|
)%
|
% of consolidated revenue
|
|
26
|
%
|
|
28
|
%
|
|
|
|
|
|
26
|
%
|
|
28
|
%
|
|
|
|
|
||||||||||
Total operating income
|
|
$
|
26.0
|
|
|
$
|
19.2
|
|
|
$
|
6.8
|
|
|
35
|
%
|
|
$
|
59.9
|
|
|
$
|
92.9
|
|
|
$
|
(33.0
|
)
|
|
(36
|
)%
|
Operating margin
|
|
11.3
|
%
|
|
8.2
|
%
|
|
|
|
|
3.1
|
pts
|
|
8.7
|
%
|
|
12.7
|
%
|
|
|
|
|
(4.0
|
)pts
|
|
|
Three Months Ended September 30,
|
|
Change
|
|
Nine Months Ended September 30,
|
|
Change
|
||||||||||||||||||||||
Workforce Solutions
|
|
2019
|
|
2018
|
|
$
|
|
%
|
|
2019
|
|
2018
|
|
$
|
|
%
|
||||||||||||||
|
|
(In millions)
|
|
|
|
(In millions)
|
|
|
||||||||||||||||||||||
Operating revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Verification Services
|
|
$
|
185.3
|
|
|
$
|
143.9
|
|
|
$
|
41.4
|
|
|
29
|
%
|
|
$
|
506.5
|
|
|
$
|
421.6
|
|
|
$
|
84.9
|
|
|
20
|
%
|
Employer Services
|
|
55.3
|
|
|
58.3
|
|
|
(3.0
|
)
|
|
(5
|
)%
|
|
192.7
|
|
|
199.3
|
|
|
(6.6
|
)
|
|
(3
|
)%
|
||||||
Total operating revenue
|
|
$
|
240.6
|
|
|
$
|
202.2
|
|
|
$
|
38.4
|
|
|
19
|
%
|
|
$
|
699.2
|
|
|
$
|
620.9
|
|
|
$
|
78.3
|
|
|
13
|
%
|
% of consolidated revenue
|
|
28
|
%
|
|
24
|
%
|
|
|
|
|
|
|
27
|
%
|
|
24
|
%
|
|
|
|
|
|||||||||
Total operating income
|
|
$
|
99.6
|
|
|
$
|
77.0
|
|
|
$
|
22.6
|
|
|
29
|
%
|
|
$
|
291.4
|
|
|
$
|
251.0
|
|
|
$
|
40.4
|
|
|
16
|
%
|
Operating margin
|
|
41.4
|
%
|
|
38.1
|
%
|
|
|
|
|
3.3
|
pts
|
|
41.7
|
%
|
|
40.4
|
%
|
|
|
|
1.3
|
pts
|
|
|
Three Months Ended September 30,
|
|
Change
|
|
Nine Months Ended September 30,
|
|
Change
|
||||||||||||||||||||||
Global Consumer Solutions
|
|
2019
|
|
2018
|
|
$
|
|
%
|
|
2019
|
|
2018
|
|
$
|
|
%
|
||||||||||||||
|
|
(In millions)
|
|
|
|
(In millions)
|
|
|
||||||||||||||||||||||
Total operating revenue
|
|
$
|
89.1
|
|
|
$
|
88.7
|
|
|
$
|
0.4
|
|
|
—
|
%
|
|
$
|
271.5
|
|
|
$
|
286.3
|
|
|
$
|
(14.8
|
)
|
|
(5
|
)%
|
% of consolidated revenue
|
|
10
|
%
|
|
11
|
%
|
|
|
|
|
|
|
|
11
|
%
|
|
11
|
%
|
|
|
|
|
|
|||||||
Total operating income
|
|
$
|
11.9
|
|
|
$
|
12.2
|
|
|
$
|
(0.3
|
)
|
|
(2
|
)%
|
|
$
|
36.2
|
|
|
$
|
61.3
|
|
|
$
|
(25.1
|
)
|
|
(41
|
)%
|
Operating margin
|
|
13.4
|
%
|
|
13.8
|
%
|
|
|
|
|
(0.4
|
)pts
|
|
13.3
|
%
|
|
21.4
|
%
|
|
|
|
|
(8.1
|
)pts
|
|
|
Three Months Ended September 30,
|
|
Change
|
|
Nine Months Ended September 30,
|
|
Change
|
||||||||||||||||||||||
General Corporate Expense
|
|
2019
|
|
2018
|
|
$
|
|
%
|
|
2019
|
|
2018
|
|
$
|
|
%
|
||||||||||||||
|
|
(In millions)
|
|
|
|
(In millions)
|
|
|
||||||||||||||||||||||
General corporate expense
|
|
$
|
114.1
|
|
|
$
|
139.7
|
|
|
$
|
(25.6
|
)
|
|
(18
|
)%
|
|
$
|
1,082.2
|
|
|
$
|
335.8
|
|
|
$
|
746.4
|
|
|
222
|
%
|
|
|
Nine Months Ended September 30,
|
|
Change
|
||||||||
Net cash provided by (used in):
|
|
2019
|
|
2018
|
|
2019 vs. 2018
|
||||||
|
|
(In millions)
|
||||||||||
Operating activities
|
|
$
|
83.1
|
|
|
$
|
507.4
|
|
|
$
|
(424.3
|
)
|
Investing activities
|
|
$
|
(565.5
|
)
|
|
$
|
(325.2
|
)
|
|
$
|
(240.3
|
)
|
Financing activities
|
|
$
|
426.4
|
|
|
$
|
(256.0
|
)
|
|
$
|
682.4
|
|
|
|
Nine Months Ended September 30,
|
|
Change
|
||||||||
Net cash used in:
|
|
2019
|
|
2018
|
|
2019 vs. 2018
|
||||||
|
|
(In millions)
|
||||||||||
Capital expenditures*
|
|
$
|
(305.7
|
)
|
|
$
|
(208.1
|
)
|
|
$
|
(97.6
|
)
|
|
|
Nine Months Ended September 30,
|
|
Change
|
||||||||
Net cash used in:
|
|
2019
|
|
2018
|
|
2019 vs. 2018
|
||||||
|
|
(In millions)
|
||||||||||
Acquisitions, net of cash acquired
|
|
$
|
(234.8
|
)
|
|
$
|
(115.8
|
)
|
|
$
|
(119.0
|
)
|
Cash received from sale of asset
|
|
$
|
—
|
|
|
$
|
5.6
|
|
|
$
|
(5.6
|
)
|
|
|
Nine Months Ended September 30,
|
|
Change
|
||||||||
Net cash provided by (used in):
|
|
2019
|
|
2018
|
|
2019 vs. 2018
|
||||||
|
|
(In millions)
|
||||||||||
Net short-term borrowings (repayments)
|
|
$
|
367.0
|
|
|
$
|
(960.9
|
)
|
|
$
|
1,327.9
|
|
Payments on long-term debt
|
|
$
|
(50.0
|
)
|
|
$
|
(100.0
|
)
|
|
$
|
50.0
|
|
Borrowings on long-term debt
|
|
$
|
250.0
|
|
|
$
|
994.5
|
|
|
$
|
(744.5
|
)
|
|
|
Nine Months Ended September 30,
|
|
Change
|
||||||||
Net cash provided by (used in):
|
|
2019
|
|
2018
|
|
2019 vs. 2018
|
||||||
|
|
(In millions)
|
||||||||||
Dividends paid to Equifax shareholders
|
|
$
|
(141.4
|
)
|
|
$
|
(140.8
|
)
|
|
$
|
(0.6
|
)
|
Dividends paid to noncontrolling interests
|
|
$
|
(4.8
|
)
|
|
$
|
(8.7
|
)
|
|
$
|
3.9
|
|
Proceeds from exercise of stock options
|
|
$
|
15.3
|
|
|
$
|
11.3
|
|
|
$
|
4.0
|
|
-
|
During the first nine months of 2019 and 2018, we did not repurchase any shares of our stock.
|
-
|
We maintained our quarterly dividend of $0.39 per share in the third quarter of 2019. We paid cash dividends to Equifax shareholders of $141.4 million and $140.8 million, or $1.17 per share, during the nine months ended September 30, 2019 and 2018, respectively.
|
-
|
We received cash of $15.3 million and $11.3 million during the first nine months of 2019 and 2018, respectively, from the exercise of stock options.
|
|
September 30,
|
||
|
2019
|
||
|
(In millions)
|
||
U.S. Information Solutions
|
$
|
1,280.3
|
|
Asia Pacific
|
1,350.4
|
|
|
Europe
|
151.4
|
|
|
Latin America
|
225.0
|
|
|
Canada
|
51.2
|
|
|
Global Consumer Solutions
|
184.4
|
|
|
Workforce Solutions
|
984.6
|
|
|
Total goodwill
|
$
|
4,227.3
|
|
|
|
Total
Number
of Shares
|
|
Average
Price
Paid
|
|
Total Number
of Shares Purchased
as Part of
Publicly-Announced
|
|
Maximum Number
(or Approximate
Dollar Value)
of Shares that May
Yet Be Purchased
Under the Plans or
|
||||||
Period
|
|
Purchased (1)
|
|
Per Share (2)
|
|
Plans or Programs
|
|
Programs (3)
|
||||||
July 1 - July 31, 2019
|
|
5,618
|
|
|
$
|
—
|
|
|
—
|
|
|
$
|
590,092,166
|
|
August 1 - August 31, 2019
|
|
1,462
|
|
|
$
|
—
|
|
|
—
|
|
|
$
|
590,092,166
|
|
September 1 - September 30, 2019
|
|
29,358
|
|
|
$
|
—
|
|
|
—
|
|
|
$
|
590,092,166
|
|
Total
|
|
36,438
|
|
|
|
|
—
|
|
|
|
(1)
|
The total number of shares purchased for the quarter includes shares surrendered, or deemed surrendered, in satisfaction of the exercise price and/or to satisfy tax withholding obligations in connection with the exercise of employee stock options, totaling 5,618 shares for the month of July 2019, 1,462 shares for the month of August 2019, and 29,358 shares for the month of September 2019.
|
(2)
|
Average price paid per share for shares purchased as part of our share repurchase program (includes brokerage commissions).
|
(3)
|
At September 30, 2019, the amount authorized for future share repurchases under the share repurchase program was $590.1 million. The program does not have a stated expiration date.
|
|
|
Equifax Inc.
|
|
|
|
(Registrant)
|
|
|
|
|
|
Date:
|
October 24, 2019
|
By:
|
/s/ Mark W. Begor
|
|
|
|
Mark W. Begor
|
|
|
|
Chief Executive Officer
|
|
|
|
(Principal Executive Officer)
|
|
|
|
|
Date:
|
October 24, 2019
|
|
/s/ John W. Gamble, Jr.
|
|
|
|
John W. Gamble, Jr.
|
|
|
|
Corporate Vice President and
|
|
|
|
Chief Financial Officer
|
|
|
|
(Principal Financial Officer)
|
|
|
|
|
Date:
|
October 24, 2019
|
|
/s/ James M. Griggs
|
|
|
|
James M. Griggs
|
|
|
|
Chief Accounting Officer and Corporate Controller
|
|
|
|
(Principal Accounting Officer)
|
1.
|
I have reviewed this quarterly report on Form 10-Q of Equifax Inc.;
|
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
|
4.
|
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15(d)-15(f)) for the registrant and have:
|
|
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
|
c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
|
d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
|
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
Date:
|
October 24, 2019
|
/s/ Mark W. Begor
|
|
|
Mark W. Begor
|
|
|
Chief Executive Officer
|
1.
|
I have reviewed this quarterly report on Form 10-Q of Equifax Inc.;
|
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
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4.
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The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15(d)-15(f)) for the registrant and have:
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a)
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Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
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b)
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Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
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c)
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Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
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d)
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Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
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5.
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The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
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a)
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All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
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b)
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Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
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Date:
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October 24, 2019
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/s/ John W. Gamble, Jr.
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John W. Gamble, Jr.
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Chief Financial Officer
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Date:
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October 24, 2019
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/s/ Mark W. Begor
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Mark W. Begor
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Chief Executive Officer
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Date:
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October 24, 2019
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/s/ John W. Gamble, Jr.
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John W. Gamble, Jr.
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Chief Financial Officer
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