Price Graph
Price
Yield
These terms and conditions govern your use of the website alphaminr.com and its related services.
These Terms and Conditions (“Terms”) are a binding contract between you and Alphaminr, (“Alphaminr”, “we”, “us” and “service”). You must agree to and accept the Terms. These Terms include the provisions in this document as well as those in the Privacy Policy. These terms may be modified at any time.
Your subscription will be on a month to month basis and automatically renew every month. You may terminate your subscription at any time through your account.
We will provide you with advance notice of any change in fees.
You represent that you are of legal age to form a binding contract. You are responsible for any
activity associated with your account. The account can be logged in at only one computer at a
time.
The Services are intended for your own individual use. You shall only use the Services in a
manner that complies with all laws. You may not use any automated software, spider or system to
scrape data from Alphaminr.
Alphaminr is not a financial advisor and does not provide financial advice of any kind. The service is provided “As is”. The materials and information accessible through the Service are solely for informational purposes. While we strive to provide good information and data, we make no guarantee or warranty as to its accuracy.
TO THE EXTENT PERMITTED BY APPLICABLE LAW, UNDER NO CIRCUMSTANCES SHALL ALPHAMINR BE LIABLE TO YOU FOR DAMAGES OF ANY KIND, INCLUDING DAMAGES FOR INVESTMENT LOSSES, LOSS OF DATA, OR ACCURACY OF DATA, OR FOR ANY AMOUNT, IN THE AGGREGATE, IN EXCESS OF THE GREATER OF (1) FIFTY DOLLARS OR (2) THE AMOUNTS PAID BY YOU TO ALPHAMINR IN THE SIX MONTH PERIOD PRECEDING THIS APPLICABLE CLAIM. SOME STATES DO NOT ALLOW THE EXCLUSION OR LIMITATION OF INCIDENTAL OR CONSEQUENTIAL OR CERTAIN OTHER DAMAGES, SO THE ABOVE LIMITATION AND EXCLUSIONS MAY NOT APPLY TO YOU.
If any provision of these Terms is found to be invalid under any applicable law, such provision shall not affect the validity or enforceability of the remaining provisions herein.
This privacy policy describes how we (“Alphaminr”) collect, use, share and protect your personal information when we provide our service (“Service”). This Privacy Policy explains how information is collected about you either directly or indirectly. By using our service, you acknowledge the terms of this Privacy Notice. If you do not agree to the terms of this Privacy Policy, please do not use our Service. You should contact us if you have questions about it. We may modify this Privacy Policy periodically.
When you register for our Service, we collect information from you such as your name, email address and credit card information.
Like many other websites we use “cookies”, which are small text files that are stored on your computer or other device that record your preferences and actions, including how you use the website. You can set your browser or device to refuse all cookies or to alert you when a cookie is being sent. If you delete your cookies, if you opt-out from cookies, some Services may not function properly. We collect information when you use our Service. This includes which pages you visit.
We use Google Analytics and we use Stripe for payment processing. We will not share the information we collect with third parties for promotional purposes. We may share personal information with law enforcement as required or permitted by law.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
x
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
|
¨
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
|
|
|
|
|
Delaware
|
|
61-1678417
|
|
Delaware
|
|
74-3135689
|
|
(State or other jurisdiction of
incorporation or organization)
|
|
(I.R.S. Employer
Identification Number)
|
|
555 West Adams, Chicago, IL
|
|
60661
|
|
(Address of principal executive offices)
|
|
(Zip code)
|
|
|
|
TransUnion Holding Company, Inc.
|
|
Yes
x
No
¨
|
|
|
|
|
|
TransUnion Corp.
|
|
Yes
¨
No
x
|
|
TransUnion Holding Company, Inc.
|
|
Yes
x
No
¨
|
|
|
|
|
|
TransUnion Corp.
|
|
Yes
x
No
¨
|
|
TransUnion Holding Company, Inc.
|
|
Large accelerated filer
|
|
¨
|
|
Accelerated filer
|
|
¨
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-accelerated filer
|
|
x
|
|
Smaller reporting company
|
|
¨
|
|
|
|
|
|
|
|
|
|
|
|
TransUnion Corp.
|
|
Large accelerated filer
|
|
¨
|
|
Accelerated filer
|
|
¨
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-accelerated filer
|
|
x
|
|
Smaller reporting company
|
|
¨
|
|
TransUnion Holding Company, Inc.
|
|
Yes
¨
No
x
|
|
|
|
|
|
TransUnion Corp.
|
|
Yes
¨
No
x
|
|
|
|
•
|
Enhances investors’ understanding of TransUnion Holding and TransUnion Corp by enabling investors to view the business as a whole, the same manner as management views and operates the business;
|
|
•
|
Provides a more readable presentation of required disclosures with less duplication, since a substantial portion of the disclosures apply to both TransUnion Holding and TransUnion Corp; and
|
|
•
|
Creates time and cost efficiencies through the preparation of one combined report instead of two separate reports.
|
|
|
Page
|
|
TransUnion Holding Company, Inc. and Subsidiaries:
|
|
|
TransUnion Corp. and Subsidiaries:
|
|
|
TransUnion Holding Company, Inc. and Subsidiaries and TransUnion Corp. and Subsidiaries:
|
|
|
ITEM 1.
|
FINANCIAL STATEMENTS
|
|
|
September 30,
2013 |
|
December 31,
2012 |
||||
|
|
Unaudited
|
|
|
||||
|
Assets
|
|
|
|
||||
|
Current assets:
|
|
|
|
||||
|
Cash and cash equivalents
|
$
|
117.5
|
|
|
$
|
154.3
|
|
|
Trade accounts receivable, net of allowance of $0.9 and $1.7
|
183.7
|
|
|
163.6
|
|
||
|
Other current assets
|
63.9
|
|
|
82.7
|
|
||
|
Total current assets
|
365.1
|
|
|
400.6
|
|
||
|
Property, plant and equipment, net of accumulated depreciation and amortization of $59.0 and $26.4
|
125.2
|
|
|
121.2
|
|
||
|
Other marketable securities
|
11.6
|
|
|
11.4
|
|
||
|
Goodwill
|
1,855.4
|
|
|
1,804.2
|
|
||
|
Other intangibles, net of accumulated amortization of $190.6 and $86.6
|
1,882.2
|
|
|
1,911.6
|
|
||
|
Other assets
|
135.5
|
|
|
129.8
|
|
||
|
Total assets
|
$
|
4,375.0
|
|
|
$
|
4,378.8
|
|
|
Liabilities and stockholders’ equity
|
|
|
|
||||
|
Current liabilities:
|
|
|
|
||||
|
Trade accounts payable
|
$
|
82.3
|
|
|
$
|
78.4
|
|
|
Short-term debt and current portion of long-term debt
|
76.1
|
|
|
10.6
|
|
||
|
Other current liabilities
|
130.7
|
|
|
129.3
|
|
||
|
Total current liabilities
|
289.1
|
|
|
218.3
|
|
||
|
Long-term debt
|
2,650.5
|
|
|
2,670.3
|
|
||
|
Other liabilities
|
678.1
|
|
|
679.4
|
|
||
|
Total liabilities
|
3,617.7
|
|
|
3,568.0
|
|
||
|
Redeemable noncontrolling interests
|
18.5
|
|
|
14.7
|
|
||
|
Stockholders’ equity:
|
|
|
|
||||
|
Common stock, $0.01 par value; 200.0 million shares authorized at September 30, 2013, 110.3 million and 110.2 million shares issued at September 30, 2013 and December 31, 2012, respectively, and 109.9 million shares and 110.1 million shares outstanding as of September 30, 2013 and December 31, 2012, respectively
|
1.1
|
|
|
1.1
|
|
||
|
Additional paid-in capital
|
1,116.0
|
|
|
1,109.4
|
|
||
|
Treasury stock at cost; 0.5 million shares at September 30, 2013 and 0.1 million shares at December 31, 2012
|
(3.7
|
)
|
|
(0.7
|
)
|
||
|
Accumulated deficit
|
(400.1
|
)
|
|
(382.6
|
)
|
||
|
Accumulated other comprehensive loss
|
(64.4
|
)
|
|
(24.4
|
)
|
||
|
Total TransUnion Holding Company, Inc. stockholders’ equity
|
648.9
|
|
|
702.8
|
|
||
|
Noncontrolling interests
|
89.9
|
|
|
93.3
|
|
||
|
Total stockholders’ equity
|
738.8
|
|
|
796.1
|
|
||
|
Total liabilities and stockholders’ equity
|
$
|
4,375.0
|
|
|
$
|
4,378.8
|
|
|
|
Three Months Ended
September 30, |
|
Nine Months Ended
September 30, |
|
From the
Date of Inception Through September 30, |
||||||||||
|
|
2013
|
|
2012
|
|
2013
|
|
2012
|
||||||||
|
Revenue
|
$
|
299.5
|
|
|
$
|
291.7
|
|
|
$
|
890.8
|
|
|
$
|
482.6
|
|
|
Operating expenses
|
|
|
|
|
|
|
|
||||||||
|
Cost of services (exclusive of depreciation and amortization below)
|
115.9
|
|
|
111.5
|
|
|
354.9
|
|
|
186.2
|
|
||||
|
Selling, general and administrative
|
86.3
|
|
|
75.8
|
|
|
264.5
|
|
|
126.5
|
|
||||
|
Depreciation and amortization
|
48.0
|
|
|
43.1
|
|
|
138.5
|
|
|
72.1
|
|
||||
|
Total operating expenses
|
250.2
|
|
|
230.4
|
|
|
757.9
|
|
|
384.8
|
|
||||
|
Operating income
|
49.3
|
|
|
61.3
|
|
|
132.9
|
|
|
97.8
|
|
||||
|
Non-operating income and expense
|
|
|
|
|
|
|
|
||||||||
|
Interest expense
|
(49.0
|
)
|
|
(42.6
|
)
|
|
(148.1
|
)
|
|
(77.4
|
)
|
||||
|
Interest income
|
0.8
|
|
|
0.6
|
|
|
1.3
|
|
|
0.7
|
|
||||
|
Other income and (expense), net
|
1.4
|
|
|
(0.6
|
)
|
|
2.5
|
|
|
(15.4
|
)
|
||||
|
Total non-operating income and expense
|
(46.8
|
)
|
|
(42.6
|
)
|
|
(144.3
|
)
|
|
(92.1
|
)
|
||||
|
Income (loss) before income taxes
|
2.5
|
|
|
18.7
|
|
|
(11.4
|
)
|
|
5.7
|
|
||||
|
Provision for income taxes
|
(3.9
|
)
|
|
(5.2
|
)
|
|
(1.1
|
)
|
|
(3.0
|
)
|
||||
|
Net income (loss)
|
(1.4
|
)
|
|
13.5
|
|
|
(12.5
|
)
|
|
2.7
|
|
||||
|
Less: net income attributable to the noncontrolling interests
|
(2.0
|
)
|
|
(2.2
|
)
|
|
(5.0
|
)
|
|
(3.3
|
)
|
||||
|
Net income (loss) attributable to TransUnion Holding Company Inc.
|
$
|
(3.4
|
)
|
|
$
|
11.3
|
|
|
$
|
(17.5
|
)
|
|
$
|
(0.6
|
)
|
|
|
Three Months Ended
September 30, |
|
Nine Months Ended
September 30, |
|
From the
Date of Inception Through September 30, |
||||||||||
|
|
|
|
|||||||||||||
|
|
2013
|
|
2012
|
|
2013
|
|
2012
|
||||||||
|
Net income (loss)
|
$
|
(1.4
|
)
|
|
$
|
13.5
|
|
|
$
|
(12.5
|
)
|
|
$
|
2.7
|
|
|
Other comprehensive income (loss)
|
|
|
|
|
|
|
|
||||||||
|
Foreign currency translation adjustment
|
(2.4
|
)
|
|
(1.2
|
)
|
|
(46.1
|
)
|
|
(7.6
|
)
|
||||
|
Net unrealized gain (loss) on hedges (net of tax at 36%)
|
(0.5
|
)
|
|
(1.4
|
)
|
|
2.6
|
|
|
(3.4
|
)
|
||||
|
Total other comprehensive loss, net of tax
|
(2.9
|
)
|
|
(2.6
|
)
|
|
(43.5
|
)
|
|
(11.0
|
)
|
||||
|
Comprehensive income (loss)
|
(4.3
|
)
|
|
10.9
|
|
|
(56.0
|
)
|
|
(8.3
|
)
|
||||
|
Less: comprehensive income attributable to noncontrolling interests
|
(1.8
|
)
|
|
(2.3
|
)
|
|
(1.5
|
)
|
|
(2.6
|
)
|
||||
|
Comprehensive income (loss) attributable to TransUnion Holding Company, Inc.
|
$
|
(6.1
|
)
|
|
$
|
8.6
|
|
|
$
|
(57.5
|
)
|
|
$
|
(10.9
|
)
|
|
|
Nine Months Ended
September 30, 2013 |
|
From the
Date of Inception Through September 30, 2012 |
||||
|
Cash flows from operating activities:
|
|
|
|
||||
|
Net income (loss)
|
$
|
(12.5
|
)
|
|
$
|
2.7
|
|
|
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
|
|
|
|
||||
|
Depreciation and amortization
|
138.5
|
|
|
72.1
|
|
||
|
Deferred financing fees
|
6.7
|
|
|
1.0
|
|
||
|
Stock-based compensation
|
4.8
|
|
|
1.2
|
|
||
|
Provision for losses on trade accounts receivable
|
0.7
|
|
|
(2.2
|
)
|
||
|
Equity in net income of affiliates, net of dividends
|
(0.9
|
)
|
|
3.0
|
|
||
|
Deferred taxes
|
(12.1
|
)
|
|
(5.1
|
)
|
||
|
Amortization of senior notes purchase accounting fair value adjustment and note discount
|
(12.7
|
)
|
|
(6.6
|
)
|
||
|
Gain on sale of other assets
|
(1.2
|
)
|
|
—
|
|
||
|
Other
|
(0.4
|
)
|
|
2.7
|
|
||
|
Changes in assets and liabilities:
|
|
|
|
||||
|
Trade accounts receivable
|
(14.7
|
)
|
|
(14.2
|
)
|
||
|
Other current and long-term assets
|
3.2
|
|
|
(76.0
|
)
|
||
|
Trade accounts payable
|
(1.4
|
)
|
|
(3.8
|
)
|
||
|
Other current and long-term liabilities
|
13.1
|
|
|
7.3
|
|
||
|
Cash provided by (used in) operating activities
|
111.1
|
|
|
(17.9
|
)
|
||
|
Cash flows from investing activities:
|
|
|
|
||||
|
Capital expenditures for property and equipment
|
(54.1
|
)
|
|
(26.2
|
)
|
||
|
Proceeds from sale of trading securities
|
2.2
|
|
|
—
|
|
||
|
Investments in trading securities
|
(1.7
|
)
|
|
(0.3
|
)
|
||
|
Acquisition of TransUnion Corp., net of cash acquired
|
—
|
|
|
(1,485.9
|
)
|
||
|
Other acquisitions and purchases of noncontrolling interests, net of cash acquired
|
(135.8
|
)
|
|
(10.5
|
)
|
||
|
Proceeds from sale of other assets
|
4.2
|
|
|
—
|
|
||
|
Acquisition related deposits
|
(9.0
|
)
|
|
—
|
|
||
|
Other
|
1.7
|
|
|
(1.5
|
)
|
||
|
Cash used in investing activities
|
(192.5
|
)
|
|
(1,524.4
|
)
|
||
|
Cash flows from financing activities:
|
|
|
|
||||
|
Proceeds from 9.625% notes
|
—
|
|
|
600.0
|
|
||
|
Proceeds from senior secured credit facility
|
923.4
|
|
|
—
|
|
||
|
Extinguishment of senior secured credit facility
|
(923.4
|
)
|
|
—
|
|
||
|
Proceeds from senior secured revolving line of credit
|
65.0
|
|
|
—
|
|
||
|
Repayments of debt
|
(8.7
|
)
|
|
(4.8
|
)
|
||
|
Proceeds from capital lease
|
2.0
|
|
|
—
|
|
||
|
Proceeds from issuance of common stock
|
1.5
|
|
|
1,094.5
|
|
||
|
Debt financing fees
|
(4.1
|
)
|
|
(16.8
|
)
|
||
|
Treasury stock purchases
|
(3.0
|
)
|
|
(0.7
|
)
|
||
|
Distributions to noncontrolling interests
|
(2.8
|
)
|
|
(2.1
|
)
|
||
|
Other
|
—
|
|
|
—
|
|
||
|
Cash provided by financing activities
|
49.9
|
|
|
1,670.1
|
|
||
|
Effect of exchange rate changes on cash and cash equivalents
|
(5.3
|
)
|
|
(0.6
|
)
|
||
|
Net change in cash and cash equivalents
|
(36.8
|
)
|
|
127.2
|
|
||
|
Cash and cash equivalents, beginning of period
|
154.3
|
|
|
—
|
|
||
|
Cash and cash equivalents, end of period
|
$
|
117.5
|
|
|
$
|
127.2
|
|
|
|
Common Stock
|
|
Paid-In Capital
|
|
Treasury Stock
|
|
Accumulated Deficit
|
|
Accumulated
Other Comp Loss
|
|
Non-controlling Interests
|
|
Total
|
|
Redeemable
Non-
controlling
Interests
(Temporary Equity)
|
|||||||||||||||||||
|
|
Shares
|
|
Amount
|
|
|
|
|
|
|
|
||||||||||||||||||||||||
|
Balance December 31, 2012
|
110.1
|
|
|
$
|
1.1
|
|
|
$
|
1,109.4
|
|
|
$
|
(0.7
|
)
|
|
$
|
(382.6
|
)
|
|
$
|
(24.4
|
)
|
|
$
|
93.3
|
|
|
$
|
796.1
|
|
|
$
|
14.7
|
|
|
Net income (loss)
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(17.5
|
)
|
|
|
|
4.8
|
|
|
(12.7
|
)
|
|
0.2
|
|
|||||||||
|
Other comprehensive loss
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(40.0
|
)
|
|
(1.7
|
)
|
|
(41.7
|
)
|
|
(1.8
|
)
|
||||||||
|
Acquisition of Brazil subsidiary
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
7.6
|
|
||||||||
|
Distributions to noncontrolling interests
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(2.6
|
)
|
|
(2.6
|
)
|
|
(0.2
|
)
|
||||||||
|
Purchase of noncontrolling interests
|
—
|
|
|
—
|
|
|
0.3
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
0.3
|
|
|
(2.0
|
)
|
||||||||
|
Stock-based compensation
|
|
|
—
|
|
|
4.8
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
4.8
|
|
|
—
|
|
|||||||||
|
Issuance of stock
|
0.1
|
|
|
—
|
|
|
1.2
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1.2
|
|
|
—
|
|
||||||||
|
Exercise of stock options
|
0.1
|
|
|
—
|
|
|
0.3
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
0.3
|
|
|
—
|
|
||||||||
|
Treasury stock purchased
|
(0.4
|
)
|
|
—
|
|
|
—
|
|
|
(3.0
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(3.0
|
)
|
|
—
|
|
||||||||
|
Purchase accounting adjustments related to acquisition of TransUnion Corp. subsidiaries
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(3.3
|
)
|
|
(3.3
|
)
|
|
—
|
|
||||||||
|
Disposal of noncontrolling interests
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(0.6
|
)
|
|
(0.6
|
)
|
|
—
|
|
||||||||
|
Balance September 30, 2013
|
109.9
|
|
|
$
|
1.1
|
|
|
$
|
1,116.0
|
|
|
$
|
(3.7
|
)
|
|
$
|
(400.1
|
)
|
|
$
|
(64.4
|
)
|
|
$
|
89.9
|
|
|
$
|
738.8
|
|
|
$
|
18.5
|
|
|
|
Successor
|
|
Successor
|
||||
|
|
September 30,
2013 |
|
December 31,
2012 |
||||
|
|
Unaudited
|
|
|
||||
|
Assets
|
|
|
|
||||
|
Current assets:
|
|
|
|
||||
|
Cash and cash equivalents
|
$
|
117.5
|
|
|
$
|
154.3
|
|
|
Trade accounts receivable, net of allowance of $0.9 and $1.7
|
183.7
|
|
|
163.6
|
|
||
|
Other current assets
|
36.1
|
|
|
58.7
|
|
||
|
Total current assets
|
337.3
|
|
|
376.6
|
|
||
|
Property, plant and equipment, net of accumulated depreciation and amortization of $59.0 and $26.4
|
125.2
|
|
|
121.2
|
|
||
|
Other marketable securities
|
11.6
|
|
|
11.4
|
|
||
|
Goodwill
|
1,855.4
|
|
|
1,804.2
|
|
||
|
Other intangibles, net of accumulated amortization of $190.6 and $86.6
|
1,882.2
|
|
|
1,911.6
|
|
||
|
Other assets
|
105.8
|
|
|
95.7
|
|
||
|
Total assets
|
$
|
4,317.5
|
|
|
$
|
4,320.7
|
|
|
Liabilities and stockholders’ equity
|
|
|
|
||||
|
Current liabilities:
|
|
|
|
||||
|
Trade accounts payable
|
$
|
82.0
|
|
|
$
|
77.5
|
|
|
Short-term debt and current portion of long-term debt
|
76.1
|
|
|
10.6
|
|
||
|
Other current liabilities
|
128.6
|
|
|
107.0
|
|
||
|
Total current liabilities
|
286.7
|
|
|
195.1
|
|
||
|
Long-term debt
|
1,652.3
|
|
|
1,672.3
|
|
||
|
Other liabilities
|
667.3
|
|
|
667.4
|
|
||
|
Total liabilities
|
2,606.3
|
|
|
2,534.8
|
|
||
|
Redeemable noncontrolling interests
|
18.5
|
|
|
14.7
|
|
||
|
Stockholders’ equity:
|
|
|
|
||||
|
Common stock, $0.01 par value; one thousand shares authorized, one hundred shares issued at September 30, 2013, and December 31, 2012; one hundred shares outstanding as of September 30, 2013, and December 31, 2012
|
—
|
|
|
—
|
|
||
|
Additional paid-in capital
|
1,692.3
|
|
|
1,687.2
|
|
||
|
Treasury stock at cost; 0 shares at September 30, 2013, and December 31, 2012
|
—
|
|
|
—
|
|
||
|
Retained earnings (accumulated deficit)
|
(25.1
|
)
|
|
15.1
|
|
||
|
Accumulated other comprehensive loss
|
(64.4
|
)
|
|
(24.4
|
)
|
||
|
Total TransUnion Corp. stockholders’ equity
|
1,602.8
|
|
|
1,677.9
|
|
||
|
Noncontrolling interests
|
89.9
|
|
|
93.3
|
|
||
|
Total stockholders’ equity
|
1,692.7
|
|
|
1,771.2
|
|
||
|
Total liabilities and stockholders’ equity
|
$
|
4,317.5
|
|
|
$
|
4,320.7
|
|
|
|
TransUnion Corp Successor
|
|
|
TransUnion
Corp Predecessor |
||||||||||||||||
|
|
Three
Months Ended September 30, 2013 |
|
Three
Months Ended September 30, 2012 |
|
Nine
Months Ended September 30, 2013 |
|
Five
Months Ended September 30, 2012 |
|
|
Four Months
Ended April 30, 2012 |
||||||||||
|
Revenue
|
$
|
299.5
|
|
|
$
|
291.7
|
|
|
$
|
890.8
|
|
|
$
|
482.6
|
|
|
|
$
|
373.0
|
|
|
Operating expenses
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Cost of services (exclusive of depreciation and amortization below)
|
115.9
|
|
|
111.5
|
|
|
354.9
|
|
|
186.2
|
|
|
|
172.0
|
|
|||||
|
Selling, general and administrative
|
85.9
|
|
|
75.5
|
|
|
263.4
|
|
|
125.8
|
|
|
|
172.0
|
|
|||||
|
Depreciation and amortization
|
48.0
|
|
|
43.1
|
|
|
138.5
|
|
|
72.1
|
|
|
|
29.2
|
|
|||||
|
Total operating expenses
|
249.8
|
|
|
230.1
|
|
|
756.8
|
|
|
384.1
|
|
|
|
373.2
|
|
|||||
|
Operating income (loss)
|
49.7
|
|
|
61.6
|
|
|
134.0
|
|
|
98.5
|
|
|
|
(0.2
|
)
|
|||||
|
Non-operating income and expense
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Interest expense
|
(24.9
|
)
|
|
(27.6
|
)
|
|
(75.9
|
)
|
|
(46.0
|
)
|
|
|
(40.5
|
)
|
|||||
|
Interest income
|
0.8
|
|
|
0.6
|
|
|
1.3
|
|
|
0.7
|
|
|
|
0.6
|
|
|||||
|
Other income and (expense), net
|
1.6
|
|
|
(0.6
|
)
|
|
2.5
|
|
|
(0.2
|
)
|
|
|
(23.8
|
)
|
|||||
|
Total non-operating income and expense
|
(22.5
|
)
|
|
(27.6
|
)
|
|
(72.1
|
)
|
|
(45.5
|
)
|
|
|
(63.7
|
)
|
|||||
|
Income (loss) before income taxes
|
27.2
|
|
|
34.0
|
|
|
61.9
|
|
|
53.0
|
|
|
|
(63.9
|
)
|
|||||
|
(Provision) benefit for income taxes
|
(7.7
|
)
|
|
(11.0
|
)
|
|
(19.1
|
)
|
|
(19.3
|
)
|
|
|
11.5
|
|
|||||
|
Net income (loss)
|
19.5
|
|
|
23.0
|
|
|
42.8
|
|
|
33.7
|
|
|
|
(52.4
|
)
|
|||||
|
Less: net income attributable to noncontrolling interests
|
(2.0
|
)
|
|
(2.2
|
)
|
|
(5.0
|
)
|
|
(3.3
|
)
|
|
|
(2.5
|
)
|
|||||
|
Net income (loss) attributable to TransUnion Corp.
|
$
|
17.5
|
|
|
$
|
20.8
|
|
|
$
|
37.8
|
|
|
$
|
30.4
|
|
|
|
$
|
(54.9
|
)
|
|
|
TransUnion Corp Successor
|
|
|
TransUnion
Corp Predecessor |
||||||||||||||||
|
|
Three
Months Ended September 30, 2013 |
|
Three
Months Ended September 30, 2012 |
|
Nine
Months Ended September 30, 2013 |
|
Five
Months Ended September 30, 2012 |
|
|
Four Months
Ended April 30, 2012 |
||||||||||
|
Net income (loss)
|
$
|
19.5
|
|
|
$
|
23.0
|
|
|
$
|
42.8
|
|
|
$
|
33.7
|
|
|
|
$
|
(52.4
|
)
|
|
Other comprehensive income (loss)
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Foreign currency translation adjustment
|
(2.4
|
)
|
|
(1.2
|
)
|
|
(46.1
|
)
|
|
(7.6
|
)
|
|
|
2.5
|
|
|||||
|
Net unrealized gain (loss) on hedges (net of tax at 36%)
|
(0.5
|
)
|
|
(1.4
|
)
|
|
2.6
|
|
|
(3.4
|
)
|
|
|
—
|
|
|||||
|
Total other comprehensive income (loss), net of tax
|
(2.9
|
)
|
|
(2.6
|
)
|
|
(43.5
|
)
|
|
(11.0
|
)
|
|
|
2.5
|
|
|||||
|
Comprehensive income (loss)
|
16.6
|
|
|
20.4
|
|
|
(0.7
|
)
|
|
22.7
|
|
|
|
(49.9
|
)
|
|||||
|
Less: comprehensive income attributable to noncontrolling interests
|
(1.8
|
)
|
|
(2.3
|
)
|
|
(1.5
|
)
|
|
(2.6
|
)
|
|
|
(2.8
|
)
|
|||||
|
Comprehensive income (loss) attributable to TransUnion Corp.
|
$
|
14.8
|
|
|
$
|
18.1
|
|
|
$
|
(2.2
|
)
|
|
$
|
20.1
|
|
|
|
$
|
(52.7
|
)
|
|
|
Successor
|
|
|
Predecessor
|
||||||||
|
|
Nine Months Ended
September 30, 2013 |
|
Five Months
Ended September 30,
2012
|
|
|
Four Months
Ended April
30, 2012
|
||||||
|
Cash flows from operating activities:
|
|
|
|
|
|
|
||||||
|
Net income (loss)
|
$
|
42.8
|
|
|
$
|
33.7
|
|
|
|
$
|
(52.4
|
)
|
|
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
|
|
|
|
|
|
|
||||||
|
Change in control transaction fees
|
—
|
|
|
0.3
|
|
|
|
20.9
|
|
|||
|
Depreciation and amortization
|
138.5
|
|
|
72.1
|
|
|
|
29.2
|
|
|||
|
Deferred financing fees
|
2.5
|
|
|
—
|
|
|
|
3.9
|
|
|||
|
Stock-based compensation
|
4.8
|
|
|
0.8
|
|
|
|
2.0
|
|
|||
|
Provision (reduction) for losses on trade accounts receivable
|
0.7
|
|
|
(2.2
|
)
|
|
|
3.1
|
|
|||
|
Equity in net income of affiliates, net of dividends
|
(0.9
|
)
|
|
3.0
|
|
|
|
(3.7
|
)
|
|||
|
Deferred taxes
|
(6.6
|
)
|
|
10.5
|
|
|
|
(18.3
|
)
|
|||
|
Amortization of senior notes purchase accounting fair value adjustment
|
(12.9
|
)
|
|
(6.6
|
)
|
|
|
—
|
|
|||
|
Loss (gain) on sale of other assets
|
(1.2
|
)
|
|
—
|
|
|
|
0.1
|
|
|||
|
Other
|
(0.4
|
)
|
|
2.7
|
|
|
|
(0.7
|
)
|
|||
|
Changes in assets and liabilities:
|
|
|
|
|
|
|
||||||
|
Trade accounts receivable
|
(14.7
|
)
|
|
(14.2
|
)
|
|
|
(24.7
|
)
|
|||
|
Other current and long-term assets
|
0.8
|
|
|
4.1
|
|
|
|
1.5
|
|
|||
|
Trade accounts payable
|
(1.3
|
)
|
|
(4.0
|
)
|
|
|
1.6
|
|
|||
|
Other current and long-term liabilities
|
34.6
|
|
|
(23.1
|
)
|
|
|
89.9
|
|
|||
|
Cash provided by operating activities
|
186.7
|
|
|
77.1
|
|
|
|
52.4
|
|
|||
|
Cash flows from investing activities:
|
|
|
|
|
|
|
||||||
|
Capital expenditures for property and equipment
|
(54.1
|
)
|
|
(26.2
|
)
|
|
|
(20.4
|
)
|
|||
|
Proceeds from sale of trading securities
|
2.2
|
|
|
—
|
|
|
|
1.1
|
|
|||
|
Investments in trading securities
|
(1.7
|
)
|
|
(0.3
|
)
|
|
|
(1.1
|
)
|
|||
|
Acquisitions and purchases of noncontrolling interests, net of cash acquired
|
(135.8
|
)
|
|
(10.5
|
)
|
|
|
(0.1
|
)
|
|||
|
Proceeds from sale of other assets
|
4.2
|
|
|
—
|
|
|
|
0.2
|
|
|||
|
Acquisition related deposits
|
(9.0
|
)
|
|
—
|
|
|
|
—
|
|
|||
|
Other
|
1.7
|
|
|
(1.5
|
)
|
|
|
0.7
|
|
|||
|
Cash used in investing activities
|
(192.5
|
)
|
|
(38.5
|
)
|
|
|
(19.6
|
)
|
|||
|
Cash flows from financing activities:
|
|
|
|
|
|
|
||||||
|
Proceeds from senior secured credit facility
|
923.4
|
|
|
—
|
|
|
|
—
|
|
|||
|
Extinguishment of senior secured credit facility
|
(923.4
|
)
|
|
—
|
|
|
|
—
|
|
|||
|
Proceeds from senior secured revolving line of credit
|
65.0
|
|
|
—
|
|
|
|
—
|
|
|||
|
Repayments of debt
|
(8.7
|
)
|
|
(4.8
|
)
|
|
|
(14.6
|
)
|
|||
|
Proceeds from capital lease
|
2.0
|
|
|
—
|
|
|
|
—
|
|
|||
|
Debt financing fees
|
(3.2
|
)
|
|
—
|
|
|
|
(6.1
|
)
|
|||
|
Distribution of merger consideration
|
—
|
|
|
—
|
|
|
|
(1.3
|
)
|
|||
|
Change in control transaction fees
|
—
|
|
|
(0.3
|
)
|
|
|
(20.9
|
)
|
|||
|
Distributions to noncontrolling interests
|
(2.8
|
)
|
|
(2.1
|
)
|
|
|
(0.4
|
)
|
|||
|
Dividends to TransUnion Holding
|
(78.0
|
)
|
|
—
|
|
|
|
—
|
|
|||
|
Other
|
—
|
|
|
—
|
|
|
|
(1.7
|
)
|
|||
|
Cash used in financing activities
|
(25.7
|
)
|
|
(7.2
|
)
|
|
|
(45.0
|
)
|
|||
|
Effect of exchange rate changes on cash and cash equivalents
|
(5.3
|
)
|
|
(0.6
|
)
|
|
|
0.8
|
|
|||
|
Net change in cash and cash equivalents
|
(36.8
|
)
|
|
30.8
|
|
|
|
(11.4
|
)
|
|||
|
Cash and cash equivalents, beginning of period
|
154.3
|
|
|
96.4
|
|
|
|
107.8
|
|
|||
|
Cash and cash equivalents, end of period
|
$
|
117.5
|
|
|
$
|
127.2
|
|
|
|
$
|
96.4
|
|
|
|
Common Stock
|
|
Paid-In Capital
|
|
Treasury Stock
|
|
Retained
Earnings
(Accumulated Deficit)
|
|
Accumulated
Other Comp Income (Loss)
|
|
Non-controlling Interests
|
|
Total
|
|
Redeemable
Non-
controlling
Interests
(Temporary Equity)
|
|||||||||||||||||||
|
|
Shares
|
|
Amount
|
|
|
|
|
|
|
|
||||||||||||||||||||||||
|
Successor balance December 31, 2012
|
—
|
|
|
$
|
—
|
|
|
$
|
1,687.2
|
|
|
$
|
—
|
|
|
$
|
15.1
|
|
|
$
|
(24.4
|
)
|
|
$
|
93.3
|
|
|
$
|
1,771.2
|
|
|
$
|
14.7
|
|
|
Net income (loss)
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
37.8
|
|
|
—
|
|
|
4.8
|
|
|
42.6
|
|
|
0.2
|
|
||||||||
|
Other comprehensive income (loss)
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(40.0
|
)
|
|
(1.7
|
)
|
|
(41.7
|
)
|
|
(1.8
|
)
|
||||||||
|
Acquisition of Brazil subsidiary
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
7.6
|
|
||||||||
|
Distributions to noncontrolling interests
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(2.6
|
)
|
|
(2.6
|
)
|
|
(0.2
|
)
|
||||||||
|
Stock-based compensation
|
—
|
|
|
—
|
|
|
4.8
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
4.8
|
|
|
—
|
|
||||||||
|
Purchase of noncontrolling interests
|
—
|
|
|
—
|
|
|
0.3
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
0.3
|
|
|
(2.0
|
)
|
||||||||
|
Dividends to TransUnion Holding
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(78.0
|
)
|
|
—
|
|
|
—
|
|
|
(78.0
|
)
|
|
—
|
|
||||||||
|
Purchase accounting adjustments related to acquisition of TransUnion Corp. subsidiaries
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(3.3
|
)
|
|
(3.3
|
)
|
|
—
|
|
||||||||
|
Disposal of noncontrolling interests
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(0.6
|
)
|
|
(0.6
|
)
|
|
—
|
|
||||||||
|
Balance, September 30, 2013
|
—
|
|
|
$
|
—
|
|
|
$
|
1,692.3
|
|
|
$
|
—
|
|
|
$
|
(25.1
|
)
|
|
$
|
(64.4
|
)
|
|
$
|
89.9
|
|
|
$
|
1,692.7
|
|
|
$
|
18.5
|
|
|
|
|
|
||
|
(in millions)
|
|
Fair Value
|
||
|
Trade accounts receivable
|
|
$
|
162.4
|
|
|
Property and equipment
|
|
112.9
|
|
|
|
Identifiable intangible assets
|
|
1,986.4
|
|
|
|
Goodwill
(1)
|
|
1,794.8
|
|
|
|
All other assets
|
|
302.3
|
|
|
|
Total assets acquired
|
|
$
|
4,358.8
|
|
|
Existing debt (including fair value adjustment)
|
|
(1,710.8
|
)
|
|
|
All other liabilities
|
|
(945.4
|
)
|
|
|
Noncontrolling interests
|
|
(109.9
|
)
|
|
|
Net assets of acquired company
|
|
$
|
1,592.7
|
|
|
(1)
|
For tax purposes,
$128.8 million
of goodwill is tax deductible.
|
|
(in millions)
|
|
Fair Value
|
|
Estimated
Useful Life
|
||
|
Database and credit files
|
|
$
|
765.0
|
|
|
15 years
|
|
Technology and software
|
|
364.6
|
|
|
7 years
|
|
|
Trade names and trademarks
|
|
546.1
|
|
|
40 years
|
|
|
Customer relationships
|
|
308.0
|
|
|
20 years
|
|
|
Other
|
|
2.7
|
|
|
5 years
|
|
|
Total identifiable intangible assets
|
|
$
|
1,986.4
|
|
|
|
|
(in millions)
|
|
Total
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
||||||||
|
Trading securities
|
|
$
|
11.6
|
|
|
$
|
11.6
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
Interest rate swaps
|
|
(1.8
|
)
|
|
—
|
|
|
(1.8
|
)
|
|
—
|
|
||||
|
Total financial instruments at fair value
|
|
$
|
9.8
|
|
|
$
|
11.6
|
|
|
$
|
(1.8
|
)
|
|
$
|
—
|
|
|
|
|
TransUnion
Holding |
||||||
|
(in millions)
|
|
September 30, 2013
|
|
December 31, 2012
|
||||
|
Deferred income tax assets
|
|
$
|
26.2
|
|
|
$
|
36.3
|
|
|
Prepaid expenses
|
|
24.7
|
|
|
33.8
|
|
||
|
Deferred financing fees
|
|
6.4
|
|
|
5.7
|
|
||
|
Income taxes receivable
|
|
3.6
|
|
|
4.7
|
|
||
|
Other
|
|
3.0
|
|
|
2.2
|
|
||
|
Total other current assets
|
|
$
|
63.9
|
|
|
$
|
82.7
|
|
|
|
|
TransUnion
Corp Successor |
||||||
|
(in millions)
|
|
September 30, 2013
|
|
December 31, 2012
|
||||
|
Prepaid expenses
|
|
$
|
24.7
|
|
|
$
|
33.8
|
|
|
Deferred financing fees
|
|
0.2
|
|
|
—
|
|
||
|
Deferred income tax assets
|
|
4.7
|
|
|
18.9
|
|
||
|
Income taxes receivable
|
|
—
|
|
|
3.8
|
|
||
|
Receivable from TransUnion Holding
|
|
3.6
|
|
|
—
|
|
||
|
Other
|
|
2.9
|
|
|
2.2
|
|
||
|
Total other current assets
|
|
$
|
36.1
|
|
|
$
|
58.7
|
|
|
|
|
TransUnion
Holding |
||||||
|
(in millions)
|
|
September 30, 2013
|
|
December 31, 2012
|
||||
|
Investments in affiliated companies
|
|
$
|
89.7
|
|
|
$
|
88.6
|
|
|
Deferred financing fees
|
|
30.2
|
|
|
34.0
|
|
||
|
Deposits
|
|
14.8
|
|
|
6.3
|
|
||
|
Other
|
|
0.8
|
|
|
0.9
|
|
||
|
Total other assets
|
|
$
|
135.5
|
|
|
$
|
129.8
|
|
|
|
|
TransUnion
Corp Successor |
||||||
|
(in millions)
|
|
September 30, 2013
|
|
December 31, 2012
|
||||
|
Investments in affiliated companies
|
|
$
|
89.7
|
|
|
$
|
88.6
|
|
|
Deferred financing fees
|
|
0.5
|
|
|
—
|
|
||
|
Deposits
|
|
14.8
|
|
|
6.3
|
|
||
|
Other
|
|
0.8
|
|
|
0.8
|
|
||
|
Total other assets
|
|
$
|
105.8
|
|
|
$
|
95.7
|
|
|
|
|
TransUnion Holding and
TransUnion Corp Successor |
||||||
|
(in millions)
|
|
September 30, 2013
|
|
December 31, 2012
|
||||
|
Total equity method investments
|
|
$
|
81.8
|
|
|
$
|
80.7
|
|
|
Total cost method investments
|
|
7.9
|
|
|
7.9
|
|
||
|
Total investments in affiliated companies
|
|
$
|
89.7
|
|
|
$
|
88.6
|
|
|
(in millions)
|
|
TransUnion
Holding and
TransUnion
Corp Successor
Nine Months
Ended
September 30, 2013
|
|
TransUnion
Holding
From the Date of
Inception through
September 30, 2012
|
|
TransUnion
Corp Successor
Five Months
Ended
September 30, 2012
|
|
TransUnion Corp
Predecessor
Four Months
Ended
April 30, 2012
|
||||||||
|
Earnings from equity method investments
|
|
$
|
10.3
|
|
|
$
|
5.3
|
|
|
$
|
5.3
|
|
|
$
|
4.1
|
|
|
Dividends received from equity method investments
|
|
$
|
9.4
|
|
|
$
|
8.3
|
|
|
$
|
8.3
|
|
|
$
|
0.4
|
|
|
(in millions)
|
|
Nine Months Ended September 30, 2013
|
||
|
Revenue
|
|
$
|
72.3
|
|
|
Operating Income
|
|
$
|
34.5
|
|
|
Income from continuing operations
|
|
$
|
28.7
|
|
|
Net income
|
|
$
|
28.7
|
|
|
|
||||||||
|
|
|
TransUnion
Holding |
||||||
|
(in millions)
|
|
September 30, 2013
|
|
December 31, 2012
|
||||
|
Accrued payroll
|
|
$
|
56.9
|
|
|
$
|
64.2
|
|
|
Accrued interest
|
|
35.1
|
|
|
25.8
|
|
||
|
Deferred revenue
|
|
8.4
|
|
|
12.5
|
|
||
|
Accrued employee benefits
|
|
10.1
|
|
|
10.6
|
|
||
|
Accrued liabilities
|
|
6.4
|
|
|
5.6
|
|
||
|
Other
|
|
13.8
|
|
|
10.6
|
|
||
|
Total other current liabilities
|
|
$
|
130.7
|
|
|
$
|
129.3
|
|
|
|
|
TransUnion
Corp Successor |
||||||
|
(in millions)
|
|
September 30, 2013
|
|
December 31, 2012
|
||||
|
Accrued payroll
|
|
$
|
56.9
|
|
|
$
|
64.2
|
|
|
Accrued interest
|
|
23.2
|
|
|
3.7
|
|
||
|
Income taxes payable
|
|
9.9
|
|
|
—
|
|
||
|
Deferred revenue
|
|
8.4
|
|
|
12.5
|
|
||
|
Accrued liabilities
|
|
6.4
|
|
|
5.6
|
|
||
|
Accrued employee benefits
|
|
10.1
|
|
|
10.6
|
|
||
|
Other
|
|
13.7
|
|
|
10.4
|
|
||
|
Total other current liabilities
|
|
$
|
128.6
|
|
|
$
|
107.0
|
|
|
|
|
TransUnion
Holding |
||||||
|
(in millions)
|
|
September 30, 2013
|
|
December 31, 2012
|
||||
|
Deferred income taxes
|
|
$
|
652.6
|
|
|
$
|
657.5
|
|
|
Retirement benefits
|
|
9.8
|
|
|
10.6
|
|
||
|
Unrecognized tax benefits
|
|
4.9
|
|
|
4.9
|
|
||
|
Other
|
|
10.8
|
|
|
6.4
|
|
||
|
Total other liabilities
|
|
$
|
678.1
|
|
|
$
|
679.4
|
|
|
|
|
TransUnion
Corp Successor |
||||||
|
(in millions)
|
|
September 30, 2013
|
|
December 31, 2012
|
||||
|
Deferred income taxes
|
|
$
|
642.1
|
|
|
$
|
645.8
|
|
|
Retirement benefits
|
|
9.8
|
|
|
10.6
|
|
||
|
Unrecognized tax benefits
|
|
4.8
|
|
|
4.8
|
|
||
|
Other
|
|
10.6
|
|
|
6.2
|
|
||
|
Total other liabilities
|
|
$
|
667.3
|
|
|
$
|
667.4
|
|
|
|
|
TransUnion
Holding |
|
TransUnion
Corp Successor |
||||||||||||
|
(in millions)
|
|
September 30, 2013
|
|
December 31, 2012
|
|
September 30, 2013
|
|
December 31, 2012
|
||||||||
|
Senior secured term loan, payable in quarterly installments through February 10, 2019, including variable interest (4.25% at September 30, 2013) at LIBOR or alternate base rate, plus applicable margin
|
|
$
|
916.3
|
|
|
$
|
923.4
|
|
|
$
|
916.3
|
|
|
$
|
923.4
|
|
|
Senior secured revolving line of credit, due on February 10, 2017, variable interest (4.63% weighted average at September 30, 2013) at LIBOR or alternate base rate, plus applicable margin
|
|
65.0
|
|
|
—
|
|
|
65.0
|
|
|
—
|
|
||||
|
11.375% notes—senior notes, principal due June 15, 2018, semi-annual interest payments, 11.375% fixed interest per annum, includes unamortized fair value adjustment at September 30, 2013 of $100.5
|
|
745.5
|
|
|
758.4
|
|
|
745.5
|
|
|
758.4
|
|
||||
|
9.625% notes—senior unsecured PIK toggle notes, principal due June 15, 2018, semi-annual interest payments, 9.625% fixed interest per annum
|
|
600.0
|
|
|
600.0
|
|
|
—
|
|
|
—
|
|
||||
|
8.125% notes—senior unsecured PIK toggle notes, principal due June 15, 2018, semi-annual interest payments, 8.125% fixed interest per annum, includes original issuance discount at September 30, 2013 of $1.8
|
|
398.2
|
|
|
398.0
|
|
|
—
|
|
|
—
|
|
||||
|
Note payable for 2011 acquisition, payable in annual installments through April 15, 2013, excluding imputed interest of 10.0%
|
|
—
|
|
|
0.9
|
|
|
—
|
|
|
0.9
|
|
||||
|
Capital lease obligations
|
|
1.6
|
|
|
0.2
|
|
|
1.6
|
|
|
0.2
|
|
||||
|
Total debt
|
|
$
|
2,726.6
|
|
|
$
|
2,680.9
|
|
|
$
|
1,728.4
|
|
|
$
|
1,682.9
|
|
|
Less short-term debt and current portion of long-term debt
|
|
(76.1
|
)
|
|
(10.6
|
)
|
|
(76.1
|
)
|
|
(10.6
|
)
|
||||
|
Total long-term debt
|
|
$
|
2,650.5
|
|
|
$
|
2,670.3
|
|
|
$
|
1,652.3
|
|
|
$
|
1,672.3
|
|
|
(in millions)
|
|
TransUnion
Holding
Nine Months
Ended
September 30,
2013
|
|
TransUnion
Holding
From
Inception
Date
Through
September 30,
2012
|
|
TransUnion
Corp
Successor
Nine Months
Ended
September 30,
2013
|
|
TransUnion
Corp
Successor
Five
Months
Ended
September 30,
2012
|
|
|
TransUnion
Corp
Predecessor
Four
Months
Ended
April 30,
2012
|
||||||||||
|
Senior secured term loan
|
|
$
|
33.0
|
|
|
$
|
21.9
|
|
|
$
|
33.0
|
|
|
$
|
21.9
|
|
|
|
$
|
15.6
|
|
|
Senior secured revolving line of credit
|
|
0.2
|
|
|
—
|
|
|
0.2
|
|
|
—
|
|
|
|
—
|
|
|||||
|
11.375% notes
|
|
42.1
|
|
|
24.0
|
|
|
42.1
|
|
|
24.0
|
|
|
|
25.1
|
|
|||||
|
9.625% notes
|
|
46.6
|
|
|
31.4
|
|
|
—
|
|
|
—
|
|
|
|
—
|
|
|||||
|
8.125 % notes
|
|
25.5
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
|
—
|
|
|||||
|
Other
|
|
0.7
|
|
|
0.1
|
|
|
0.6
|
|
|
0.1
|
|
|
|
(0.2
|
)
|
|||||
|
Total interest
|
|
$
|
148.1
|
|
|
$
|
77.4
|
|
|
$
|
75.9
|
|
|
$
|
46.0
|
|
|
|
$
|
40.5
|
|
|
|
|
TransUnion Corp Successor
|
||||||||||||||
|
|
|
Three Months Ended
September 30, 2013 |
|
Three Months Ended
September 30, 2012 |
||||||||||||
|
(in millions)
|
|
Revenue
|
|
Operating
income
(loss)
|
|
Revenue
|
|
Operating
income
(loss)
|
||||||||
|
U.S. Information Services
|
|
$
|
188.3
|
|
|
$
|
41.9
|
|
|
$
|
186.1
|
|
|
$
|
47.5
|
|
|
International
|
|
60.6
|
|
|
9.0
|
|
|
59.8
|
|
|
9.9
|
|
||||
|
Interactive
|
|
50.6
|
|
|
16.7
|
|
|
45.8
|
|
|
20.4
|
|
||||
|
Corporate
|
|
—
|
|
|
(17.9
|
)
|
|
—
|
|
|
(16.2
|
)
|
||||
|
Total
|
|
$
|
299.5
|
|
|
$
|
49.7
|
|
|
$
|
291.7
|
|
|
$
|
61.6
|
|
|
|
|
TransUnion Corp Successor
|
|
|
TransUnion Corp Predecessor
|
||||||||||||||||||||
|
|
|
Nine Months Ended
September 30, 2013 |
|
Five Months Ended
September 30, 2012
|
|
|
Four Months Ended
April 30, 2012
|
||||||||||||||||||
|
(in millions)
|
|
Revenue
|
|
Operating
income
(loss)
|
|
Revenue
|
|
Operating
income
(loss)
|
|
|
Revenue
|
|
Operating
income
(loss)
|
||||||||||||
|
U.S. Information Services
|
|
$
|
560.0
|
|
|
$
|
122.2
|
|
|
$
|
309.4
|
|
|
$
|
80.8
|
|
|
|
$
|
238.1
|
|
|
$
|
33.2
|
|
|
International
|
|
177.5
|
|
|
15.4
|
|
|
97.3
|
|
|
13.0
|
|
|
|
76.6
|
|
|
5.3
|
|
||||||
|
Interactive
|
|
153.3
|
|
|
48.0
|
|
|
75.9
|
|
|
31.4
|
|
|
|
58.3
|
|
|
13.0
|
|
||||||
|
Corporate
|
|
—
|
|
|
(51.6
|
)
|
|
—
|
|
|
(26.7
|
)
|
|
|
—
|
|
|
(51.7
|
)
|
||||||
|
Total
|
|
$
|
890.8
|
|
|
$
|
134.0
|
|
|
$
|
482.6
|
|
|
$
|
98.5
|
|
|
|
$
|
373.0
|
|
|
$
|
(0.2
|
)
|
|
|
|
TransUnion Corp Successor
|
|
|
TransUnion
Corp
Predecessor
|
||||||||||||||||
|
(in millions)
|
|
Three
Months
Ended
September 30,
2013
|
|
Three
Months
Ended
September 30,
2012
|
|
Nine
Months
Ended
September 30,
2013
|
|
Five
Months
Ended
September 30,
2012
|
|
|
Four Months
Ended
April 30,
2012
|
||||||||||
|
Operating income (loss) from segments
|
|
$
|
49.7
|
|
|
$
|
61.6
|
|
|
$
|
134.0
|
|
|
$
|
98.5
|
|
|
|
$
|
(0.2
|
)
|
|
Non-operating income and expense
|
|
(22.5
|
)
|
|
(27.6
|
)
|
|
(72.1
|
)
|
|
(45.5
|
)
|
|
|
(63.7
|
)
|
|||||
|
Income (loss) before income taxes
|
|
$
|
27.2
|
|
|
$
|
34.0
|
|
|
$
|
61.9
|
|
|
$
|
53.0
|
|
|
|
$
|
(63.9
|
)
|
|
|
|
TransUnion Corp Successor
|
|
|
TransUnion
Corp
Predecessor
|
||||||||||||||||
|
(in millions)
|
|
Three
Months
Ended
September 30,
2013
|
|
Three
Months
Ended
September 30,
2012
|
|
Nine
Months
Ended
September 30,
2013
|
|
Five
Months
Ended
September 30,
2012
|
|
|
Four Months
Ended
April 30,
2012
|
||||||||||
|
U.S. Information Services
|
|
$
|
0.3
|
|
|
$
|
0.4
|
|
|
$
|
1.1
|
|
|
$
|
0.7
|
|
|
|
$
|
0.5
|
|
|
International
|
|
2.7
|
|
|
2.5
|
|
|
9.2
|
|
|
4.6
|
|
|
|
3.6
|
|
|||||
|
Interactive
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
|
—
|
|
|||||
|
Total
|
|
$
|
3.0
|
|
|
$
|
2.9
|
|
|
$
|
10.3
|
|
|
$
|
5.3
|
|
|
|
$
|
4.1
|
|
|
|
Parent
TransUnion
Corp.
|
|
Issuers
Trans Union
LLC and
TransUnion
Financing
Corporation
|
|
Guarantor
Subsidiaries
|
|
Non-Guarantor
Subsidiaries
|
|
Eliminations
|
|
TransUnion
Corp.
Consolidated
|
||||||||||||
|
Assets
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Current assets:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Cash and cash equivalents
|
$
|
22.6
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
94.9
|
|
|
$
|
—
|
|
|
$
|
117.5
|
|
|
Trade accounts receivable, net
|
—
|
|
|
104.9
|
|
|
26.9
|
|
|
51.9
|
|
|
—
|
|
|
183.7
|
|
||||||
|
Due from affiliates
|
—
|
|
|
10.7
|
|
|
—
|
|
|
58.3
|
|
|
(69.0
|
)
|
|
—
|
|
||||||
|
Other current assets
|
(14.5
|
)
|
|
43.9
|
|
|
(0.4
|
)
|
|
7.1
|
|
|
—
|
|
|
36.1
|
|
||||||
|
Total current assets
|
8.1
|
|
|
159.5
|
|
|
26.5
|
|
|
212.2
|
|
|
(69.0
|
)
|
|
337.3
|
|
||||||
|
Property, plant and equipment, net
|
—
|
|
|
98.6
|
|
|
8.2
|
|
|
18.4
|
|
|
—
|
|
|
125.2
|
|
||||||
|
Other marketable securities
|
—
|
|
|
11.6
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
11.6
|
|
||||||
|
Goodwill
|
—
|
|
|
1,145.6
|
|
|
199.9
|
|
|
509.9
|
|
|
—
|
|
|
1,855.4
|
|
||||||
|
Other intangibles, net
|
—
|
|
|
1,560.8
|
|
|
135.7
|
|
|
185.7
|
|
|
—
|
|
|
1,882.2
|
|
||||||
|
Other assets
|
1,624.5
|
|
|
1,093.9
|
|
|
2.5
|
|
|
49.2
|
|
|
(2,664.3
|
)
|
|
105.8
|
|
||||||
|
Total assets
|
$
|
1,632.6
|
|
|
$
|
4,070.0
|
|
|
$
|
372.8
|
|
|
$
|
975.4
|
|
|
$
|
(2,733.3
|
)
|
|
$
|
4,317.5
|
|
|
Liabilities and stockholders’ equity
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Current liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Trade accounts payable
|
$
|
0.1
|
|
|
$
|
46.3
|
|
|
$
|
22.5
|
|
|
$
|
13.1
|
|
|
$
|
—
|
|
|
$
|
82.0
|
|
|
Due to affiliates
|
43.8
|
|
|
—
|
|
|
7.1
|
|
|
—
|
|
|
(50.9
|
)
|
|
—
|
|
||||||
|
Short-term debt and current portion of long-term debt
|
—
|
|
|
76.1
|
|
|
—
|
|
|
18.0
|
|
|
(18.0
|
)
|
|
76.1
|
|
||||||
|
Other current liabilities
|
15.6
|
|
|
81.9
|
|
|
5.7
|
|
|
25.4
|
|
|
—
|
|
|
128.6
|
|
||||||
|
Total current liabilities
|
59.5
|
|
|
204.3
|
|
|
35.3
|
|
|
56.5
|
|
|
(68.9
|
)
|
|
286.7
|
|
||||||
|
Long-term debt
|
—
|
|
|
1,652.3
|
|
|
—
|
|
|
6.5
|
|
|
(6.5
|
)
|
|
1,652.3
|
|
||||||
|
Other liabilities
|
(29.7
|
)
|
|
585.5
|
|
|
32.7
|
|
|
78.8
|
|
|
—
|
|
|
667.3
|
|
||||||
|
Total liabilities
|
29.8
|
|
|
2,442.1
|
|
|
68.0
|
|
|
141.8
|
|
|
(75.4
|
)
|
|
2,606.3
|
|
||||||
|
Redeemable noncontrolling interests
|
—
|
|
|
—
|
|
|
—
|
|
|
18.5
|
|
|
—
|
|
|
18.5
|
|
||||||
|
Total TransUnion Corp. stockholders’ equity
|
1,602.8
|
|
|
1,627.9
|
|
|
304.8
|
|
|
725.2
|
|
|
(2,657.9
|
)
|
|
1,602.8
|
|
||||||
|
Noncontrolling interests
|
—
|
|
|
—
|
|
|
—
|
|
|
89.9
|
|
|
—
|
|
|
89.9
|
|
||||||
|
Total stockholders’ equity
|
1,602.8
|
|
|
1,627.9
|
|
|
304.8
|
|
|
815.1
|
|
|
(2,657.9
|
)
|
|
1,692.7
|
|
||||||
|
Total liabilities and stockholders’ equity
|
$
|
1,632.6
|
|
|
$
|
4,070.0
|
|
|
$
|
372.8
|
|
|
$
|
975.4
|
|
|
$
|
(2,733.3
|
)
|
|
$
|
4,317.5
|
|
|
|
Parent
TransUnion
Corp.
|
|
Issuers
Trans Union
LLC and
TransUnion
Financing
Corporation
|
|
Guarantor
Subsidiaries
|
|
Non-Guarantor
Subsidiaries
|
|
Eliminations
|
|
TransUnion
Corp.
Consolidated
|
||||||||||||
|
Assets
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Current assets:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Cash and cash equivalents
|
$
|
75.3
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
79.0
|
|
|
$
|
—
|
|
|
$
|
154.3
|
|
|
Trade accounts receivable, net
|
—
|
|
|
98.0
|
|
|
19.5
|
|
|
46.1
|
|
|
—
|
|
|
163.6
|
|
||||||
|
Due from affiliates
|
|
|
|
|
|
|
46.2
|
|
|
56.7
|
|
|
(102.9
|
)
|
|
—
|
|
||||||
|
Other current assets
|
(0.3
|
)
|
|
52.7
|
|
|
(0.7
|
)
|
|
7.0
|
|
|
—
|
|
|
58.7
|
|
||||||
|
Total current assets
|
75.0
|
|
|
150.7
|
|
|
65.0
|
|
|
188.8
|
|
|
(102.9
|
)
|
|
376.6
|
|
||||||
|
Property, plant and equipment, net
|
—
|
|
|
95.8
|
|
|
7.8
|
|
|
17.6
|
|
|
—
|
|
|
121.2
|
|
||||||
|
Other marketable securities
|
—
|
|
|
11.4
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
11.4
|
|
||||||
|
Goodwill
|
—
|
|
|
961.6
|
|
|
324.6
|
|
|
518.0
|
|
|
—
|
|
|
1,804.2
|
|
||||||
|
Other intangibles, net
|
—
|
|
|
1,629.6
|
|
|
75.8
|
|
|
206.2
|
|
|
—
|
|
|
1,911.6
|
|
||||||
|
Other assets
|
1,611.8
|
|
|
1,235.2
|
|
|
2.2
|
|
|
42.4
|
|
|
(2,795.9
|
)
|
|
95.7
|
|
||||||
|
Total assets
|
$
|
1,686.8
|
|
|
$
|
4,084.3
|
|
|
$
|
475.4
|
|
|
$
|
973.0
|
|
|
$
|
(2,898.8
|
)
|
|
$
|
4,320.7
|
|
|
Liabilities and stockholders’ equity
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Current liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Trade accounts payable
|
$
|
—
|
|
|
$
|
43.2
|
|
|
$
|
18.9
|
|
|
$
|
15.4
|
|
|
$
|
—
|
|
|
$
|
77.5
|
|
|
Due to affiliates
|
14.9
|
|
|
82.5
|
|
|
—
|
|
|
—
|
|
|
(97.4
|
)
|
|
—
|
|
||||||
|
Short-term debt and current portion of long-term debt
|
—
|
|
|
9.5
|
|
|
—
|
|
|
6.6
|
|
|
(5.5
|
)
|
|
10.6
|
|
||||||
|
Other current liabilities
|
7.9
|
|
|
68.4
|
|
|
7.2
|
|
|
23.5
|
|
|
—
|
|
|
107.0
|
|
||||||
|
Total current liabilities
|
22.8
|
|
|
203.6
|
|
|
26.1
|
|
|
45.5
|
|
|
(102.9
|
)
|
|
195.1
|
|
||||||
|
Long-term debt
|
—
|
|
|
1,672.3
|
|
|
—
|
|
|
6.5
|
|
|
(6.5
|
)
|
|
1,672.3
|
|
||||||
|
Other liabilities
|
(13.9
|
)
|
|
589.6
|
|
|
2.0
|
|
|
89.7
|
|
|
—
|
|
|
667.4
|
|
||||||
|
Total liabilities
|
8.9
|
|
|
2,465.5
|
|
|
28.1
|
|
|
141.7
|
|
|
(109.4
|
)
|
|
2,534.8
|
|
||||||
|
Redeemable noncontrolling interests
|
—
|
|
|
—
|
|
|
—
|
|
|
14.7
|
|
|
—
|
|
|
14.7
|
|
||||||
|
Total TransUnion Corp. stockholders’ equity
|
1,677.9
|
|
|
1,618.8
|
|
|
447.3
|
|
|
723.3
|
|
|
(2,789.4
|
)
|
|
1,677.9
|
|
||||||
|
Noncontrolling interests
|
—
|
|
|
—
|
|
|
—
|
|
|
93.3
|
|
|
—
|
|
|
93.3
|
|
||||||
|
Total stockholders’ equity
|
1,677.9
|
|
|
1,618.8
|
|
|
447.3
|
|
|
816.6
|
|
|
(2,789.4
|
)
|
|
1,771.2
|
|
||||||
|
Total liabilities and stockholders’ equity
|
$
|
1,686.8
|
|
|
$
|
4,084.3
|
|
|
$
|
475.4
|
|
|
$
|
973.0
|
|
|
$
|
(2,898.8
|
)
|
|
$
|
4,320.7
|
|
|
|
Parent
TransUnion
Corp.
|
|
Issuers
Trans Union
LLC and
TransUnion
Financing
Corporation
|
|
Guarantor
Subsidiaries
|
|
Non-Guarantor
Subsidiaries
|
|
Eliminations
|
|
TransUnion
Corp.
Consolidated
|
||||||||||||
|
Revenue
|
$
|
—
|
|
|
$
|
178.6
|
|
|
$
|
69.4
|
|
|
$
|
66.3
|
|
|
$
|
(14.8
|
)
|
|
$
|
299.5
|
|
|
Operating expenses
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Cost of services
|
—
|
|
|
78.6
|
|
|
28.9
|
|
|
18.5
|
|
|
(10.1
|
)
|
|
115.9
|
|
||||||
|
Selling, general and administrative
|
—
|
|
|
51.2
|
|
|
19.9
|
|
|
19.7
|
|
|
(4.9
|
)
|
|
85.9
|
|
||||||
|
Depreciation and amortization
|
—
|
|
|
37.7
|
|
|
4.5
|
|
|
5.8
|
|
|
—
|
|
|
48.0
|
|
||||||
|
Total operating expenses
|
—
|
|
|
167.5
|
|
|
53.3
|
|
|
44.0
|
|
|
(15.0
|
)
|
|
249.8
|
|
||||||
|
Operating income
|
—
|
|
|
11.1
|
|
|
16.1
|
|
|
22.3
|
|
|
0.2
|
|
|
49.7
|
|
||||||
|
Non-operating income and expense
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Interest expense
|
—
|
|
|
(24.8
|
)
|
|
—
|
|
|
(0.3
|
)
|
|
0.2
|
|
|
(24.9
|
)
|
||||||
|
Interest income
|
—
|
|
|
0.2
|
|
|
—
|
|
|
0.8
|
|
|
(0.2
|
)
|
|
0.8
|
|
||||||
|
Other income and (expense), net
|
18.7
|
|
|
32.6
|
|
|
—
|
|
|
(0.3
|
)
|
|
(49.4
|
)
|
|
1.6
|
|
||||||
|
Total non-operating income and expense
|
18.7
|
|
|
8.0
|
|
|
—
|
|
|
0.2
|
|
|
(49.4
|
)
|
|
(22.5
|
)
|
||||||
|
Income before income taxes
|
18.7
|
|
|
19.1
|
|
|
16.1
|
|
|
22.5
|
|
|
(49.2
|
)
|
|
27.2
|
|
||||||
|
Provision for income taxes
|
(1.2
|
)
|
|
(0.3
|
)
|
|
—
|
|
|
(6.2
|
)
|
|
—
|
|
|
(7.7
|
)
|
||||||
|
Net income
|
17.5
|
|
|
18.8
|
|
|
16.1
|
|
|
16.3
|
|
|
(49.2
|
)
|
|
19.5
|
|
||||||
|
Less: net income attributable to noncontrolling interests
|
—
|
|
|
—
|
|
|
—
|
|
|
(2.0
|
)
|
|
—
|
|
|
(2.0
|
)
|
||||||
|
Net income attributable to TransUnion Corp.
|
$
|
17.5
|
|
|
$
|
18.8
|
|
|
$
|
16.1
|
|
|
$
|
14.3
|
|
|
$
|
(49.2
|
)
|
|
$
|
17.5
|
|
|
|
Parent
TransUnion
Corp.
|
|
Issuers
Trans Union
LLC and
TransUnion
Financing
Corporation
|
|
Guarantor
Subsidiaries
|
|
Non-Guarantor
Subsidiaries
|
|
Eliminations
|
|
TransUnion
Corp.
Consolidated
|
||||||||||||
|
Net income
|
$
|
17.5
|
|
|
$
|
18.8
|
|
|
$
|
16.1
|
|
|
$
|
16.3
|
|
|
$
|
(49.2
|
)
|
|
$
|
19.5
|
|
|
Other comprehensive loss
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Foreign currency translation adjustment
|
(2.2
|
)
|
|
(2.2
|
)
|
|
—
|
|
|
(2.4
|
)
|
|
4.4
|
|
|
(2.4
|
)
|
||||||
|
Net unrealized loss on hedges (net of tax at 36%)
|
(0.5
|
)
|
|
(0.5
|
)
|
|
—
|
|
|
—
|
|
|
0.5
|
|
|
(0.5
|
)
|
||||||
|
Total other comprehensive loss, net of tax
|
(2.7
|
)
|
|
(2.7
|
)
|
|
—
|
|
|
(2.4
|
)
|
|
4.9
|
|
|
(2.9
|
)
|
||||||
|
Comprehensive income
|
14.8
|
|
|
16.1
|
|
|
16.1
|
|
|
13.9
|
|
|
(44.3
|
)
|
|
16.6
|
|
||||||
|
Less: comprehensive income attributable to noncontrolling interests
|
—
|
|
|
—
|
|
|
—
|
|
|
(1.8
|
)
|
|
—
|
|
|
(1.8
|
)
|
||||||
|
Comprehensive income attributable to TransUnion Corp.
|
$
|
14.8
|
|
|
$
|
16.1
|
|
|
$
|
16.1
|
|
|
$
|
12.1
|
|
|
$
|
(44.3
|
)
|
|
$
|
14.8
|
|
|
|
Parent
TransUnion
Corp.
|
|
Issuers
Trans Union
LLC and
TransUnion
Financing
Corporation
|
|
Guarantor
Subsidiaries
|
|
Non-Guarantor
Subsidiaries
|
|
Eliminations
|
|
TransUnion
Corp.
Consolidated
|
||||||||||||
|
Revenue
|
$
|
—
|
|
|
$
|
535.2
|
|
|
$
|
205.4
|
|
|
$
|
195.3
|
|
|
$
|
(45.1
|
)
|
|
$
|
890.8
|
|
|
Operating expenses
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Cost of services
|
—
|
|
|
235.4
|
|
|
90.8
|
|
|
59.3
|
|
|
(30.6
|
)
|
|
354.9
|
|
||||||
|
Selling, general and administrative
|
—
|
|
|
158.5
|
|
|
59.1
|
|
|
61.1
|
|
|
(15.3
|
)
|
|
263.4
|
|
||||||
|
Depreciation and amortization
|
—
|
|
|
109.0
|
|
|
11.5
|
|
|
18.0
|
|
|
—
|
|
|
138.5
|
|
||||||
|
Total operating expenses
|
—
|
|
|
502.9
|
|
|
161.4
|
|
|
138.4
|
|
|
(45.9
|
)
|
|
756.8
|
|
||||||
|
Operating income
|
—
|
|
|
32.3
|
|
|
44.0
|
|
|
56.9
|
|
|
0.8
|
|
|
134.0
|
|
||||||
|
Non-operating income and expense
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Interest expense
|
—
|
|
|
(75.9
|
)
|
|
0.1
|
|
|
(0.8
|
)
|
|
0.7
|
|
|
(75.9
|
)
|
||||||
|
Interest income
|
—
|
|
|
0.8
|
|
|
—
|
|
|
1.2
|
|
|
(0.7
|
)
|
|
1.3
|
|
||||||
|
Other income and (expense), net
|
43.9
|
|
|
87.7
|
|
|
1.6
|
|
|
(0.5
|
)
|
|
(130.2
|
)
|
|
2.5
|
|
||||||
|
Total non-operating income and expense
|
43.9
|
|
|
12.6
|
|
|
1.7
|
|
|
(0.1
|
)
|
|
(130.2
|
)
|
|
(72.1
|
)
|
||||||
|
Income before income taxes
|
43.9
|
|
|
44.9
|
|
|
45.7
|
|
|
56.8
|
|
|
(129.4
|
)
|
|
61.9
|
|
||||||
|
Provision for income taxes
|
(6.1
|
)
|
|
(0.8
|
)
|
|
(0.2
|
)
|
|
(12.0
|
)
|
|
—
|
|
|
(19.1
|
)
|
||||||
|
Net income
|
37.8
|
|
|
44.1
|
|
|
45.5
|
|
|
44.8
|
|
|
(129.4
|
)
|
|
42.8
|
|
||||||
|
Less: net income attributable to noncontrolling interests
|
—
|
|
|
—
|
|
|
—
|
|
|
(5.0
|
)
|
|
—
|
|
|
(5.0
|
)
|
||||||
|
Net income attributable to TransUnion Corp.
|
$
|
37.8
|
|
|
$
|
44.1
|
|
|
$
|
45.5
|
|
|
$
|
39.8
|
|
|
$
|
(129.4
|
)
|
|
$
|
37.8
|
|
|
|
Parent
TransUnion
Corp.
|
|
Issuers
Trans Union
LLC and
TransUnion
Financing
Corporation
|
|
Guarantor
Subsidiaries
|
|
Non-Guarantor
Subsidiaries
|
|
Eliminations
|
|
TransUnion
Corp.
Consolidated
|
||||||||||||
|
Net income
|
$
|
37.8
|
|
|
$
|
44.1
|
|
|
$
|
45.5
|
|
|
$
|
44.8
|
|
|
$
|
(129.4
|
)
|
|
$
|
42.8
|
|
|
Other comprehensive income (loss)
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Foreign currency translation adjustment
|
(42.6
|
)
|
|
(42.6
|
)
|
|
—
|
|
|
(46.1
|
)
|
|
85.2
|
|
|
(46.1
|
)
|
||||||
|
Net unrealized gain on hedges (net of tax at 36%)
|
2.6
|
|
|
2.6
|
|
|
—
|
|
|
—
|
|
|
(2.6
|
)
|
|
2.6
|
|
||||||
|
Total other comprehensive loss, net of tax
|
(40.0
|
)
|
|
(40.0
|
)
|
|
—
|
|
|
(46.1
|
)
|
|
82.6
|
|
|
(43.5
|
)
|
||||||
|
Comprehensive income (loss)
|
(2.2
|
)
|
|
4.1
|
|
|
45.5
|
|
|
(1.3
|
)
|
|
(46.8
|
)
|
|
(0.7
|
)
|
||||||
|
Less: comprehensive income attributable to noncontrolling interests
|
—
|
|
|
—
|
|
|
—
|
|
|
(1.5
|
)
|
|
—
|
|
|
(1.5
|
)
|
||||||
|
Comprehensive income (loss) attributable to TransUnion Corp.
|
$
|
(2.2
|
)
|
|
$
|
4.1
|
|
|
$
|
45.5
|
|
|
$
|
(2.8
|
)
|
|
$
|
(46.8
|
)
|
|
$
|
(2.2
|
)
|
|
|
Parent
TransUnion
Corp.
|
|
Issuers
Trans Union
LLC and
TransUnion
Financing
Corporation
|
|
Guarantor
Subsidiaries
|
|
Non-Guarantor
Subsidiaries
|
|
Eliminations
|
|
Consolidated
|
||||||||||||
|
Revenue
|
$
|
—
|
|
|
$
|
178.6
|
|
|
$
|
61.1
|
|
|
$
|
66.1
|
|
|
$
|
(14.1
|
)
|
|
$
|
291.7
|
|
|
Operating expenses
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Cost of services
|
—
|
|
|
73.7
|
|
|
27.4
|
|
|
19.7
|
|
|
(9.3
|
)
|
|
111.5
|
|
||||||
|
Selling, general and administrative
|
—
|
|
|
49.6
|
|
|
13.2
|
|
|
17.8
|
|
|
(5.1
|
)
|
|
75.5
|
|
||||||
|
Depreciation and amortization
|
—
|
|
|
35.5
|
|
|
1.6
|
|
|
6.0
|
|
|
—
|
|
|
43.1
|
|
||||||
|
Total operating expenses
|
—
|
|
|
158.8
|
|
|
42.2
|
|
|
43.5
|
|
|
(14.4
|
)
|
|
230.1
|
|
||||||
|
Operating income
|
—
|
|
|
19.8
|
|
|
18.9
|
|
|
22.6
|
|
|
0.3
|
|
|
61.6
|
|
||||||
|
Non-operating income and expense
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Interest expense
|
—
|
|
|
(27.7
|
)
|
|
—
|
|
|
—
|
|
|
0.1
|
|
|
(27.6
|
)
|
||||||
|
Interest income
|
—
|
|
|
0.1
|
|
|
—
|
|
|
0.6
|
|
|
(0.1
|
)
|
|
0.6
|
|
||||||
|
Other income and (expense), net
|
27.6
|
|
|
36.0
|
|
|
0.1
|
|
|
(3.1
|
)
|
|
(61.2
|
)
|
|
(0.6
|
)
|
||||||
|
Total non-operating income and expense
|
27.6
|
|
|
8.4
|
|
|
0.1
|
|
|
(2.5
|
)
|
|
(61.2
|
)
|
|
(27.6
|
)
|
||||||
|
Income before income taxes
|
27.6
|
|
|
28.2
|
|
|
19.0
|
|
|
20.1
|
|
|
(60.9
|
)
|
|
34.0
|
|
||||||
|
Provision for income taxes
|
(6.8
|
)
|
|
(0.5
|
)
|
|
(0.2
|
)
|
|
(3.5
|
)
|
|
—
|
|
|
(11.0
|
)
|
||||||
|
Net income
|
20.8
|
|
|
27.7
|
|
|
18.8
|
|
|
16.6
|
|
|
(60.9
|
)
|
|
23.0
|
|
||||||
|
Less: net income attributable to noncontrolling interests
|
—
|
|
|
—
|
|
|
—
|
|
|
(2.2
|
)
|
|
—
|
|
|
(2.2
|
)
|
||||||
|
Net income attributable to TransUnion Corp.
|
$
|
20.8
|
|
|
$
|
27.7
|
|
|
$
|
18.8
|
|
|
$
|
14.4
|
|
|
$
|
(60.9
|
)
|
|
$
|
20.8
|
|
|
|
Parent
TransUnion
Corp.
|
|
Issuers
Trans Union
LLC and
TransUnion
Financing
Corporation
|
|
Guarantor
Subsidiaries
|
|
Non-Guarantor
Subsidiaries
|
|
Eliminations
|
|
Consolidated
|
||||||||||||
|
Net income
|
$
|
20.8
|
|
|
$
|
27.7
|
|
|
$
|
18.8
|
|
|
$
|
16.6
|
|
|
$
|
(60.9
|
)
|
|
$
|
23.0
|
|
|
Other comprehensive loss
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Foreign currency translation adjustment
|
(1.3
|
)
|
|
(1.3
|
)
|
|
—
|
|
|
(1.2
|
)
|
|
2.6
|
|
|
(1.2
|
)
|
||||||
|
Net unrealized loss on hedges (net of tax at 36%)
|
(1.4
|
)
|
|
(1.4
|
)
|
|
—
|
|
|
—
|
|
|
1.4
|
|
|
(1.4
|
)
|
||||||
|
Total other comprehensive loss, net of tax
|
(2.7
|
)
|
|
(2.7
|
)
|
|
—
|
|
|
(1.2
|
)
|
|
4.0
|
|
|
(2.6
|
)
|
||||||
|
Comprehensive income
|
18.1
|
|
|
25.0
|
|
|
18.8
|
|
|
15.4
|
|
|
(56.9
|
)
|
|
20.4
|
|
||||||
|
Less: comprehensive income attributable to noncontrolling interests
|
—
|
|
|
—
|
|
|
—
|
|
|
(2.3
|
)
|
|
—
|
|
|
(2.3
|
)
|
||||||
|
Comprehensive income attributable to TransUnion Corp.
|
$
|
18.1
|
|
|
$
|
25.0
|
|
|
$
|
18.8
|
|
|
$
|
13.1
|
|
|
$
|
(56.9
|
)
|
|
$
|
18.1
|
|
|
|
Parent
TransUnion
Corp.
|
|
Issuers
Trans Union
LLC and
TransUnion
Financing
Corporation
|
|
Guarantor
Subsidiaries
|
|
Non-Guarantor
Subsidiaries
|
|
Eliminations
|
|
Consolidated
|
||||||||||||
|
Revenue
|
$
|
—
|
|
|
$
|
295.5
|
|
|
$
|
103.5
|
|
|
$
|
109.8
|
|
|
$
|
(26.2
|
)
|
|
$
|
482.6
|
|
|
Operating expenses
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Cost of services
|
—
|
|
|
125.4
|
|
|
45.5
|
|
|
32.8
|
|
|
(17.5
|
)
|
|
186.2
|
|
||||||
|
Selling, general and administrative
|
0.1
|
|
|
80.8
|
|
|
24.4
|
|
|
29.7
|
|
|
(9.2
|
)
|
|
125.8
|
|
||||||
|
Depreciation and amortization
|
—
|
|
|
59.2
|
|
|
4.8
|
|
|
8.1
|
|
|
—
|
|
|
72.1
|
|
||||||
|
Total operating expenses
|
0.1
|
|
|
265.4
|
|
|
74.7
|
|
|
70.6
|
|
|
(26.7
|
)
|
|
384.1
|
|
||||||
|
Operating income (loss)
|
(0.1
|
)
|
|
30.1
|
|
|
28.8
|
|
|
39.2
|
|
|
0.5
|
|
|
98.5
|
|
||||||
|
Non-operating income and expense
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Interest expense
|
—
|
|
|
(46.0
|
)
|
|
—
|
|
|
(0.1
|
)
|
|
0.1
|
|
|
(46.0
|
)
|
||||||
|
Interest income
|
—
|
|
|
0.1
|
|
|
—
|
|
|
0.7
|
|
|
(0.1
|
)
|
|
0.7
|
|
||||||
|
Other income and (expense), net
|
41.7
|
|
|
58.3
|
|
|
—
|
|
|
(3.3
|
)
|
|
(96.9
|
)
|
|
(0.2
|
)
|
||||||
|
Total non-operating income and expense
|
41.7
|
|
|
12.4
|
|
|
—
|
|
|
(2.7
|
)
|
|
(96.9
|
)
|
|
(45.5
|
)
|
||||||
|
Income before income taxes
|
41.6
|
|
|
42.5
|
|
|
28.8
|
|
|
36.5
|
|
|
(96.4
|
)
|
|
53.0
|
|
||||||
|
Provision for income taxes
|
(11.2
|
)
|
|
(0.5
|
)
|
|
(0.2
|
)
|
|
(7.4
|
)
|
|
—
|
|
|
(19.3
|
)
|
||||||
|
Net income
|
30.4
|
|
|
42.0
|
|
|
28.6
|
|
|
29.1
|
|
|
(96.4
|
)
|
|
33.7
|
|
||||||
|
Less: net income attributable to noncontrolling interests
|
—
|
|
|
—
|
|
|
—
|
|
|
(3.3
|
)
|
|
—
|
|
|
(3.3
|
)
|
||||||
|
Net income attributable to TransUnion Corp.
|
$
|
30.4
|
|
|
$
|
42.0
|
|
|
$
|
28.6
|
|
|
$
|
25.8
|
|
|
$
|
(96.4
|
)
|
|
$
|
30.4
|
|
|
|
Parent
TransUnion
Corp.
|
|
Issuers
Trans Union
LLC and
TransUnion
Financing
Corporation
|
|
Guarantor
Subsidiaries
|
|
Non-Guarantor
Subsidiaries
|
|
Eliminations
|
|
Consolidated
|
||||||||||||
|
Net income
|
$
|
30.4
|
|
|
$
|
42.0
|
|
|
$
|
28.6
|
|
|
$
|
29.1
|
|
|
$
|
(96.4
|
)
|
|
$
|
33.7
|
|
|
Other comprehensive loss
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Foreign currency translation adjustment
|
(6.9
|
)
|
|
(6.9
|
)
|
|
—
|
|
|
(7.6
|
)
|
|
13.8
|
|
|
(7.6
|
)
|
||||||
|
Net Unrealized loss on hedges (net of tax at 36%)
|
(3.4
|
)
|
|
(3.4
|
)
|
|
—
|
|
|
—
|
|
|
3.4
|
|
|
(3.4
|
)
|
||||||
|
Total other comprehensive income, net of tax
|
(10.3
|
)
|
|
(10.3
|
)
|
|
—
|
|
|
(7.6
|
)
|
|
17.2
|
|
|
(11.0
|
)
|
||||||
|
Comprehensive income
|
20.1
|
|
|
31.7
|
|
|
28.6
|
|
|
21.5
|
|
|
(79.2
|
)
|
|
22.7
|
|
||||||
|
Less: comprehensive income attributable to noncontrolling interests
|
—
|
|
|
—
|
|
|
—
|
|
|
(2.6
|
)
|
|
—
|
|
|
(2.6
|
)
|
||||||
|
Comprehensive income attributable to TransUnion Corp.
|
$
|
20.1
|
|
|
$
|
31.7
|
|
|
$
|
28.6
|
|
|
$
|
18.9
|
|
|
$
|
(79.2
|
)
|
|
$
|
20.1
|
|
|
|
Parent
TransUnion
Corp.
|
|
Issuers
Trans Union
LLC and
TransUnion
Financing
Corporation
|
|
Guarantor
Subsidiaries
|
|
Non-Guarantor
Subsidiaries
|
|
Eliminations
|
|
Consolidated
|
||||||||||||
|
Revenue
|
$
|
—
|
|
|
$
|
228.7
|
|
|
$
|
82.5
|
|
|
$
|
84.6
|
|
|
$
|
(22.8
|
)
|
|
$
|
373.0
|
|
|
Operating expenses
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Cost of services
|
—
|
|
|
122.6
|
|
|
36.1
|
|
|
29.6
|
|
|
(16.3
|
)
|
|
172.0
|
|
||||||
|
Selling, general and administrative
|
0.1
|
|
|
120.0
|
|
|
30.5
|
|
|
28.3
|
|
|
(6.9
|
)
|
|
172.0
|
|
||||||
|
Depreciation and amortization
|
—
|
|
|
19.8
|
|
|
5.9
|
|
|
3.5
|
|
|
—
|
|
|
29.2
|
|
||||||
|
Total operating expenses
|
0.1
|
|
|
262.4
|
|
|
72.5
|
|
|
61.4
|
|
|
(23.2
|
)
|
|
373.2
|
|
||||||
|
Operating income (loss)
|
(0.1
|
)
|
|
(33.7
|
)
|
|
10.0
|
|
|
23.2
|
|
|
0.4
|
|
|
(0.2
|
)
|
||||||
|
Non-operating income and expense
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Interest expense
|
(0.3
|
)
|
|
(40.2
|
)
|
|
—
|
|
|
(0.3
|
)
|
|
0.3
|
|
|
(40.5
|
)
|
||||||
|
Interest income
|
0.3
|
|
|
0.3
|
|
|
—
|
|
|
0.3
|
|
|
(0.3
|
)
|
|
0.6
|
|
||||||
|
Other income and (expense), net
|
(72.7
|
)
|
|
23.4
|
|
|
—
|
|
|
(0.4
|
)
|
|
25.9
|
|
|
(23.8
|
)
|
||||||
|
Total non-operating income and expense
|
(72.7
|
)
|
|
(16.5
|
)
|
|
—
|
|
|
(0.4
|
)
|
|
25.9
|
|
|
(63.7
|
)
|
||||||
|
Income (loss) before income taxes
|
(72.8
|
)
|
|
(50.2
|
)
|
|
10.0
|
|
|
22.8
|
|
|
26.3
|
|
|
(63.9
|
)
|
||||||
|
Provision for income taxes
|
17.9
|
|
|
(1.6
|
)
|
|
—
|
|
|
(4.8
|
)
|
|
—
|
|
|
11.5
|
|
||||||
|
Net income (loss)
|
(54.9
|
)
|
|
(51.8
|
)
|
|
10.0
|
|
|
18.0
|
|
|
26.3
|
|
|
(52.4
|
)
|
||||||
|
Less: net income attributable to noncontrolling interests
|
—
|
|
|
—
|
|
|
—
|
|
|
(2.5
|
)
|
|
—
|
|
|
(2.5
|
)
|
||||||
|
Net income (loss) attributable to TransUnion Corp.
|
$
|
(54.9
|
)
|
|
$
|
(51.8
|
)
|
|
$
|
10.0
|
|
|
$
|
15.5
|
|
|
$
|
26.3
|
|
|
$
|
(54.9
|
)
|
|
|
Parent
TransUnion
Corp.
|
|
Issuers
Trans Union
LLC and
TransUnion
Financing
Corporation
|
|
Guarantor
Subsidiaries
|
|
Non-Guarantor
Subsidiaries
|
|
Eliminations
|
|
Consolidated
|
||||||||||||
|
Net income (loss)
|
$
|
(54.9
|
)
|
|
$
|
(51.8
|
)
|
|
$
|
10.0
|
|
|
$
|
18.0
|
|
|
$
|
26.3
|
|
|
$
|
(52.4
|
)
|
|
Other comprehensive income, net of tax
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Foreign currency translation adjustment
|
2.2
|
|
|
2.2
|
|
|
—
|
|
|
2.5
|
|
|
(4.4
|
)
|
|
2.5
|
|
||||||
|
Total other comprehensive income, net of tax
|
2.2
|
|
|
2.2
|
|
|
—
|
|
|
2.5
|
|
|
(4.4
|
)
|
|
2.5
|
|
||||||
|
Comprehensive income (loss)
|
(52.7
|
)
|
|
(49.6
|
)
|
|
10.0
|
|
|
20.5
|
|
|
21.9
|
|
|
(49.9
|
)
|
||||||
|
Less: comprehensive income attributable to noncontrolling interests
|
—
|
|
|
—
|
|
|
—
|
|
|
(2.8
|
)
|
|
—
|
|
|
(2.8
|
)
|
||||||
|
Comprehensive income (loss) attributable to TransUnion Corp.
|
$
|
(52.7
|
)
|
|
$
|
(49.6
|
)
|
|
$
|
10.0
|
|
|
$
|
17.7
|
|
|
$
|
21.9
|
|
|
$
|
(52.7
|
)
|
|
|
Parent
TransUnion
Corp.
|
|
Issuers
Trans Union
LLC and
TransUnion
Financing
Corporation
|
|
Guarantor
Subsidiaries
|
|
Non-Guarantor
Subsidiaries
|
|
Eliminations
|
|
TransUnion
Corp.
Consolidated
|
||||||||||||
|
Cash provided by (used in) operating activities
|
$
|
25.3
|
|
|
$
|
(6.8
|
)
|
|
$
|
110.5
|
|
|
$
|
57.7
|
|
|
$
|
—
|
|
|
$
|
186.7
|
|
|
Cash flows from investing activities:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Capital expenditures for property and equipment
|
—
|
|
|
(38.3
|
)
|
|
(9.7
|
)
|
|
(6.1
|
)
|
|
—
|
|
|
(54.1
|
)
|
||||||
|
Proceeds from sale of trading securities
|
—
|
|
|
2.2
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2.2
|
|
||||||
|
Investments in trading securities
|
—
|
|
|
(1.7
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(1.7
|
)
|
||||||
|
Acquisitions and purchases of noncontrolling interests, net of cash acquired
|
—
|
|
|
—
|
|
|
(104.2
|
)
|
|
(31.6
|
)
|
|
—
|
|
|
(135.8
|
)
|
||||||
|
Proceeds from sale of other assets
|
—
|
|
|
0.9
|
|
|
3.2
|
|
|
0.1
|
|
|
—
|
|
|
4.2
|
|
||||||
|
Issuance of intercompany notes
|
—
|
|
|
(32.0
|
)
|
|
—
|
|
|
—
|
|
|
32.0
|
|
|
—
|
|
||||||
|
Proceeds from repayment of intercompany notes
|
—
|
|
|
19.5
|
|
|
—
|
|
|
—
|
|
|
(19.5
|
)
|
|
—
|
|
||||||
|
Acquisition related deposits
|
|
|
|
|
|
|
(9.0
|
)
|
|
|
|
(9.0
|
)
|
||||||||||
|
Other
|
—
|
|
|
—
|
|
|
0.2
|
|
|
1.5
|
|
|
—
|
|
|
1.7
|
|
||||||
|
Cash used in investing activities
|
—
|
|
|
(49.4
|
)
|
|
(110.5
|
)
|
|
(45.1
|
)
|
|
12.5
|
|
|
(192.5
|
)
|
||||||
|
Cash flows from financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Proceeds from senior secured credit facility
|
—
|
|
|
923.4
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
923.4
|
|
||||||
|
Extinguishment of senior secured credit facility
|
—
|
|
|
(923.4
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(923.4
|
)
|
||||||
|
Proceeds from senior secured revolving line of credit
|
—
|
|
|
65.0
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
65.0
|
|
||||||
|
Repayments of debt
|
—
|
|
|
(7.6
|
)
|
|
—
|
|
|
(1.1
|
)
|
|
—
|
|
|
(8.7
|
)
|
||||||
|
Proceeds from capital lease
|
—
|
|
|
2.0
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2.0
|
|
||||||
|
Debt financing fees
|
—
|
|
|
(3.2
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(3.2
|
)
|
||||||
|
Dividends to TransUnion Holding
|
(78.0
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(78.0
|
)
|
||||||
|
Proceeds from intercompany notes
|
—
|
|
|
—
|
|
|
—
|
|
|
32.0
|
|
|
(32.0
|
)
|
|
—
|
|
||||||
|
Repayment of intercompany notes
|
—
|
|
|
—
|
|
|
—
|
|
|
(19.5
|
)
|
|
19.5
|
|
|
—
|
|
||||||
|
Distributions to noncontrolling interests
|
—
|
|
|
—
|
|
|
—
|
|
|
(2.8
|
)
|
|
—
|
|
|
(2.8
|
)
|
||||||
|
Cash provided by (used in) financing activities
|
(78.0
|
)
|
|
56.2
|
|
|
—
|
|
|
8.6
|
|
|
(12.5
|
)
|
|
(25.7
|
)
|
||||||
|
Effect of exchange rate changes on cash and cash equivalents
|
—
|
|
|
—
|
|
|
—
|
|
|
(5.3
|
)
|
|
—
|
|
|
(5.3
|
)
|
||||||
|
Net change in cash and cash equivalents
|
(52.7
|
)
|
|
—
|
|
|
—
|
|
|
15.9
|
|
|
—
|
|
|
(36.8
|
)
|
||||||
|
Cash and cash equivalents, beginning of period
|
75.3
|
|
|
—
|
|
|
—
|
|
|
79.0
|
|
|
—
|
|
|
154.3
|
|
||||||
|
Cash and cash equivalents, end of period
|
$
|
22.6
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
94.9
|
|
|
$
|
—
|
|
|
$
|
117.5
|
|
|
|
Parent
TransUnion
Corp.
|
|
Issuers
Trans Union
LLC and
TransUnion
Financing
Corporation
|
|
Guarantor
Subsidiaries
|
|
Non-Guarantor
Subsidiaries
|
|
Eliminations
|
|
Consolidated
|
||||||||||||
|
Cash provided by operating activities
|
$
|
24.1
|
|
|
$
|
28.0
|
|
|
$
|
4.4
|
|
|
$
|
20.6
|
|
|
$
|
—
|
|
|
$
|
77.1
|
|
|
Cash flows from investing activities:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Capital expenditures for property and equipment
|
—
|
|
|
(19.0
|
)
|
|
(4.4
|
)
|
|
(2.8
|
)
|
|
—
|
|
|
(26.2
|
)
|
||||||
|
Investments in trading securities
|
—
|
|
|
(0.3
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(0.3
|
)
|
||||||
|
Acquisitions and purchases of noncontrolling interests, net of cash acquired
|
—
|
|
|
—
|
|
|
—
|
|
|
(10.5
|
)
|
|
—
|
|
|
(10.5
|
)
|
||||||
|
Proceeds from notes receivable
|
—
|
|
|
—
|
|
|
—
|
|
|
3.9
|
|
|
(3.9
|
)
|
|
—
|
|
||||||
|
Other
|
—
|
|
|
—
|
|
|
—
|
|
|
(1.5
|
)
|
|
—
|
|
|
(1.5
|
)
|
||||||
|
Cash used in investing activities
|
—
|
|
|
(19.3
|
)
|
|
(4.4
|
)
|
|
(10.9
|
)
|
|
(3.9
|
)
|
|
(38.5
|
)
|
||||||
|
Cash flows from financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Repayments of debt
|
—
|
|
|
(8.7
|
)
|
|
—
|
|
|
—
|
|
|
3.9
|
|
|
(4.8
|
)
|
||||||
|
Change in control transaction fees
|
(0.3
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(0.3
|
)
|
||||||
|
Distributions to noncontrolling interests
|
—
|
|
|
—
|
|
|
—
|
|
|
(2.1
|
)
|
|
—
|
|
|
(2.1
|
)
|
||||||
|
Cash used in financing activities
|
(0.3
|
)
|
|
(8.7
|
)
|
|
—
|
|
|
(2.1
|
)
|
|
3.9
|
|
|
(7.2
|
)
|
||||||
|
Effect of exchange rate changes on cash and cash equivalents
|
—
|
|
|
—
|
|
|
—
|
|
|
(0.6
|
)
|
|
—
|
|
|
(0.6
|
)
|
||||||
|
Net change in cash and cash equivalents
|
23.8
|
|
|
—
|
|
|
—
|
|
|
7.0
|
|
|
—
|
|
|
30.8
|
|
||||||
|
Cash and cash equivalents, beginning of period
|
35.2
|
|
|
—
|
|
|
—
|
|
|
61.2
|
|
|
—
|
|
|
96.4
|
|
||||||
|
Cash and cash equivalents, end of period
|
$
|
59.0
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
68.2
|
|
|
$
|
—
|
|
|
$
|
127.2
|
|
|
|
Parent
TransUnion
Corp.
|
|
Issuers
Trans Union
LLC and
TransUnion
Financing
Corporation
|
|
Guarantor
Subsidiaries
|
|
Non-Guarantor
Subsidiaries
|
|
Eliminations
|
|
Consolidated
|
||||||||||||
|
Cash provided by (used in) operating activities
|
$
|
34.8
|
|
|
$
|
(3.5
|
)
|
|
$
|
4.5
|
|
|
$
|
16.5
|
|
|
$
|
0.1
|
|
|
$
|
52.4
|
|
|
Cash flows from investing activities:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Capital expenditures for property and equipment
|
—
|
|
|
(15.6
|
)
|
|
(3.6
|
)
|
|
(1.2
|
)
|
|
—
|
|
|
(20.4
|
)
|
||||||
|
Proceeds from sale of trading securities
|
—
|
|
|
1.1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1.1
|
|
||||||
|
Investments in trading securities
|
—
|
|
|
(1.1
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(1.1
|
)
|
||||||
|
Acquisitions and purchases of noncontrolling interests, net of cash acquired
|
—
|
|
|
—
|
|
|
—
|
|
|
(0.1
|
)
|
|
—
|
|
|
(0.1
|
)
|
||||||
|
Proceeds from notes receivable
|
—
|
|
|
22.6
|
|
|
—
|
|
|
—
|
|
|
(22.6
|
)
|
|
—
|
|
||||||
|
Issuance of notes receivable
|
—
|
|
|
—
|
|
|
—
|
|
|
(4.1
|
)
|
|
4.1
|
|
|
—
|
|
||||||
|
Proceeds from sale of other assets
|
—
|
|
|
—
|
|
|
0.2
|
|
|
—
|
|
|
—
|
|
|
0.2
|
|
||||||
|
Other
|
—
|
|
|
—
|
|
|
(0.3
|
)
|
|
1.0
|
|
|
—
|
|
|
0.7
|
|
||||||
|
Cash provided by (used in) investing activities
|
—
|
|
|
7.0
|
|
|
(3.7
|
)
|
|
(4.4
|
)
|
|
(18.5
|
)
|
|
(19.6
|
)
|
||||||
|
Cash flows from financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Repayments of debt
|
(10.3
|
)
|
|
(2.5
|
)
|
|
(0.9
|
)
|
|
(23.5
|
)
|
|
22.6
|
|
|
(14.6
|
)
|
||||||
|
Debt financing fees
|
—
|
|
|
(6.1
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(6.1
|
)
|
||||||
|
Distribution of merger consideration
|
(1.3
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(1.3
|
)
|
||||||
|
Change in control transaction fees
|
(20.9
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(20.9
|
)
|
||||||
|
Proceeds from issuance of debt
|
—
|
|
|
4.1
|
|
|
—
|
|
|
—
|
|
|
(4.1
|
)
|
|
—
|
|
||||||
|
Distributions to noncontrolling interests
|
—
|
|
|
—
|
|
|
—
|
|
|
(0.4
|
)
|
|
—
|
|
|
(0.4
|
)
|
||||||
|
Other
|
(1.7
|
)
|
|
—
|
|
|
—
|
|
|
0.1
|
|
|
(0.1
|
)
|
|
(1.7
|
)
|
||||||
|
Cash used in financing activities
|
(34.2
|
)
|
|
(4.5
|
)
|
|
(0.9
|
)
|
|
(23.8
|
)
|
|
18.4
|
|
|
(45.0
|
)
|
||||||
|
Effect of exchange rate changes on cash and cash equivalents
|
—
|
|
|
—
|
|
|
—
|
|
|
0.8
|
|
|
—
|
|
|
0.8
|
|
||||||
|
Net change in cash and cash equivalents
|
0.6
|
|
|
(1.0
|
)
|
|
(0.1
|
)
|
|
(10.9
|
)
|
|
—
|
|
|
(11.4
|
)
|
||||||
|
Cash and cash equivalents, beginning of period
|
34.6
|
|
|
1.0
|
|
|
0.1
|
|
|
72.1
|
|
|
—
|
|
|
107.8
|
|
||||||
|
Cash and cash equivalents, end of period
|
$
|
35.2
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
61.2
|
|
|
$
|
—
|
|
|
$
|
96.4
|
|
|
ITEM 2.
|
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
|
|
•
|
Enhances investors’ understanding of TransUnion Holding and TransUnion Corp by enabling investors to view the business as a whole, the same manner as management views and operates the business;
|
|
•
|
Provides a more readable presentation of required disclosures with less duplication, since a substantial portion of the Company’s disclosures apply to both TransUnion Holding and TransUnion Corp; and
|
|
•
|
Creates time and cost efficiencies through the preparation of one combined report instead of two separate reports.
|
|
•
|
USIS provides credit reports, credit scores, verification services, analytical services, decisioning technology and other services to businesses in the United States through both direct and indirect channels. In this segment, we intend to continue to focus on expansion into underpenetrated and growth industries, such as insurance and healthcare, and the introduction of innovative and differentiated solutions in the financial services and other industries.
|
|
•
|
International provides services similar to our USIS and Interactive segments in many countries outside the United States. We believe our International segment represents a significant opportunity for growth as several of the countries in which we operate, such as India, Mexico and Brazil, continue to develop their economies and credit markets. We also seek to enter into and develop our business in new geographies.
|
|
•
|
Interactive provides primarily subscription-based services to consumers, including credit reports, credit scores and credit and identity monitoring, through both direct and indirect channels. As the U.S. economy continues to stabilize and improve, consumer borrowing activity increases, and concerns over identity theft continue, we expect our Interactive segment to grow and represent an increasing portion of our overall revenue.
|
|
•
|
On September 4, 2013, we acquired a 100% ownership interest in e-Scan Data Systems, Inc. ("eScan"). eScan provides services to hospitals and healthcare providers to efficiently capture uncompensated care costs in their revenue management cycle programs. The results of operations of eScan, which are not material, have been included as part of our USIS segment in our consolidated statements of income since the date of the acquisition.
|
|
•
|
On March 1, 2013, we acquired an 80% ownership interest in Data Solutions Serviços de Informática Ltda. (“ZipCode”). ZipCode provides data enrichment and registry information to companies in Brazil’s information management, financial services, marketing and telecommunications segments. The results of operations of ZipCode, which are not material, have been included as part of our International segment in our consolidated statements of income since the date of the acquisition.
|
|
•
|
On May 29, 2012, we acquired an 85% ownership interest in Credit Reference Bureau (Holdings) Limited ("CRB"). During the third quarter of 2013, we acquired the remaining 15% ownership interest in CRB. CRB operates collections and credit bureau businesses and has locations in eight African countries, giving us a strategic presence into seven new Southeast Africa countries. The results of operations of CRB, which are not material, have been included as part of our International segment in our consolidated statements of income since the date of the acquisition.
|
|
|
|
TransUnion Holding Consolidated
|
|||||||||||||
|
|
|
Three Months Ended September 30,
|
|||||||||||||
|
(in millions)
|
|
2013
|
|
2012
|
|
$
Change |
|
%
Change |
|||||||
|
Revenue
|
|
$
|
299.5
|
|
|
$
|
291.7
|
|
|
$
|
7.8
|
|
|
2.7
|
%
|
|
Operating expenses
|
|
|
|
|
|
|
|
|
|||||||
|
Cost of services (exclusive of depreciation and amortization below)
|
|
115.9
|
|
|
111.5
|
|
|
4.4
|
|
|
3.9
|
%
|
|||
|
Selling, general and administrative
|
|
86.3
|
|
|
75.8
|
|
|
10.5
|
|
|
13.9
|
%
|
|||
|
Depreciation and amortization
|
|
48.0
|
|
|
43.1
|
|
|
4.9
|
|
|
11.4
|
%
|
|||
|
Total operating expenses
|
|
250.2
|
|
|
230.4
|
|
|
19.8
|
|
|
8.6
|
%
|
|||
|
Operating income
|
|
49.3
|
|
|
61.3
|
|
|
(12.0
|
)
|
|
(19.6
|
)%
|
|||
|
Non-operating income and expense
|
|
|
|
|
|
|
|
|
|||||||
|
Interest expense
|
|
(49.0
|
)
|
|
(42.6
|
)
|
|
(6.4
|
)
|
|
(15.0
|
)%
|
|||
|
Interest income
|
|
0.8
|
|
|
0.6
|
|
|
0.2
|
|
|
33.3
|
%
|
|||
|
Other income and (expense), net
|
|
1.4
|
|
|
(0.6
|
)
|
|
2.0
|
|
|
333.3
|
%
|
|||
|
Total non-operating income and expense
|
|
(46.8
|
)
|
|
(42.6
|
)
|
|
(4.2
|
)
|
|
(9.9
|
)%
|
|||
|
Income (loss) from operations before income taxes
|
|
2.5
|
|
|
18.7
|
|
|
(16.2
|
)
|
|
(86.6
|
)%
|
|||
|
Provision for income taxes
|
|
(3.9
|
)
|
|
(5.2
|
)
|
|
1.3
|
|
|
25.0
|
%
|
|||
|
Net income (loss)
|
|
(1.4
|
)
|
|
13.5
|
|
|
(14.9
|
)
|
|
(110.4
|
)%
|
|||
|
Less: net income attributable to noncontrolling interests
|
|
(2.0
|
)
|
|
(2.2
|
)
|
|
0.2
|
|
|
9.1
|
%
|
|||
|
Net income (loss) attributable to the Company
|
|
$
|
(3.4
|
)
|
|
$
|
11.3
|
|
|
$
|
(14.7
|
)
|
|
(130.1
|
)%
|
|
|
|
Nine Months Ended September 30,
|
|||||||||||||||||||||
|
|
|
2013
|
|
2012
|
|
|
|
|
|||||||||||||||
|
|
|
TransUnion Holding
|
|
TransUnion Holding
|
|
TransUnion Corp. Predecessor Four Months Ended April 30, 2012
|
|
|
|
|
|
|
|||||||||||
|
(in millions)
|
|
Nine Months Ended
September 30, 2013 |
|
Date of
Inception Through September 30, 2012 |
|
|
Combined
Nine Months Ended September 30, 2012 |
|
$
Change |
|
%
Change |
||||||||||||
|
Revenue
|
|
$
|
890.8
|
|
|
$
|
482.6
|
|
|
$
|
373.0
|
|
|
$
|
855.6
|
|
|
$
|
35.2
|
|
|
4.1
|
%
|
|
Operating expenses
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Cost of services (exclusive of depreciation and amortization below)
|
|
354.9
|
|
|
186.2
|
|
|
172.0
|
|
|
358.2
|
|
|
(3.3
|
)
|
|
(0.9
|
)%
|
|||||
|
Selling, general and administrative
|
|
264.5
|
|
|
126.5
|
|
|
172.0
|
|
|
298.5
|
|
|
(34.0
|
)
|
|
(11.4
|
)%
|
|||||
|
Depreciation and amortization
|
|
138.5
|
|
|
72.1
|
|
|
29.2
|
|
|
101.3
|
|
|
37.2
|
|
|
36.7
|
%
|
|||||
|
Total operating expenses
|
|
757.9
|
|
|
384.8
|
|
|
373.2
|
|
|
758.0
|
|
|
(0.1
|
)
|
|
—
|
|
|||||
|
Operating income (loss)
|
|
132.9
|
|
|
97.8
|
|
|
(0.2
|
)
|
|
97.6
|
|
|
35.3
|
|
|
36.2
|
%
|
|||||
|
Non-operating income and expense
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Interest expense
|
|
(148.1
|
)
|
|
(77.4
|
)
|
|
(40.5
|
)
|
|
(117.9
|
)
|
|
(30.2
|
)
|
|
(25.6
|
)%
|
|||||
|
Interest income
|
|
1.3
|
|
|
0.7
|
|
|
0.6
|
|
|
1.3
|
|
|
—
|
|
|
—
|
|
|||||
|
Other income and (expense), net
|
|
2.5
|
|
|
(15.4
|
)
|
|
(23.8
|
)
|
|
(39.2
|
)
|
|
41.7
|
|
|
106.4
|
%
|
|||||
|
Total non-operating income and expense
|
|
(144.3
|
)
|
|
(92.1
|
)
|
|
(63.7
|
)
|
|
(155.8
|
)
|
|
11.5
|
|
|
7.4
|
%
|
|||||
|
Income (loss) from operations before income taxes
|
|
(11.4
|
)
|
|
5.7
|
|
|
(63.9
|
)
|
|
(58.2
|
)
|
|
46.8
|
|
|
80.4
|
%
|
|||||
|
(Provision) benefit for income taxes
|
|
(1.1
|
)
|
|
(3.0
|
)
|
|
11.5
|
|
|
8.5
|
|
|
(9.6
|
)
|
|
(112.9
|
)%
|
|||||
|
Net income (loss)
|
|
(12.5
|
)
|
|
2.7
|
|
|
(52.4
|
)
|
|
(49.7
|
)
|
|
37.2
|
|
|
74.8
|
%
|
|||||
|
Less: net income attributable to noncontrolling interests
|
|
(5.0
|
)
|
|
(3.3
|
)
|
|
(2.5
|
)
|
|
(5.8
|
)
|
|
0.8
|
|
|
13.8
|
%
|
|||||
|
Net loss attributable to the Company
|
|
$
|
(17.5
|
)
|
|
$
|
(0.6
|
)
|
|
$
|
(54.9
|
)
|
|
$
|
(55.5
|
)
|
|
$
|
38.0
|
|
|
68.5
|
%
|
|
|
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||||||||||||||||||||||||
|
(in millions)
|
|
2013
|
|
2012
|
|
$
Change
|
|
%
Change
|
|
2013
|
|
2012
|
|
$
Change
|
|
%
Change
|
||||||||||||||
|
Revenue
|
|
$
|
299.5
|
|
|
$
|
291.7
|
|
|
$
|
7.8
|
|
|
2.7
|
%
|
|
$
|
890.8
|
|
|
$
|
855.6
|
|
|
$
|
35.2
|
|
|
4.1
|
%
|
|
Reconciliation of operating income to Adjusted Operating Income:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
|
Operating income
|
|
$
|
49.3
|
|
|
$
|
61.3
|
|
|
$
|
(12.0
|
)
|
|
(19.6
|
)%
|
|
$
|
132.9
|
|
|
$
|
97.6
|
|
|
$
|
35.3
|
|
|
36.2
|
%
|
|
Adjustments
(1)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
4.1
|
|
|
90.6
|
|
|
(86.5
|
)
|
|
(95.5
|
)%
|
||||||
|
Adjusted Operating Income
(2)
|
|
$
|
49.3
|
|
|
$
|
61.3
|
|
|
$
|
(12.0
|
)
|
|
(19.6
|
)%
|
|
$
|
137.0
|
|
|
$
|
188.2
|
|
|
$
|
(51.2
|
)
|
|
(27.2
|
)%
|
|
Reconciliation of net income (loss) attributable to the Company to Adjusted EBITDA:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
|
Net income (loss) attributable to the Company
|
|
$
|
(3.4
|
)
|
|
$
|
11.3
|
|
|
$
|
(14.7
|
)
|
|
(130.1
|
)%
|
|
$
|
(17.5
|
)
|
|
$
|
(55.5
|
)
|
|
$
|
38.0
|
|
|
68.5
|
%
|
|
Net interest expense
|
|
48.2
|
|
|
42.0
|
|
|
6.2
|
|
|
14.8
|
%
|
|
146.8
|
|
|
116.6
|
|
|
30.2
|
|
|
25.9
|
%
|
||||||
|
Income tax (benefit) provision
|
|
3.9
|
|
|
5.2
|
|
|
(1.3
|
)
|
|
(25.0
|
)%
|
|
1.1
|
|
|
(8.5
|
)
|
|
9.6
|
|
|
112.9
|
%
|
||||||
|
Depreciation and amortization
(3)
|
|
48.0
|
|
|
43.1
|
|
|
4.9
|
|
|
11.4
|
%
|
|
138.5
|
|
|
101.3
|
|
|
37.2
|
|
|
36.7
|
%
|
||||||
|
Stock-based compensation
|
|
1.2
|
|
|
0.8
|
|
|
0.4
|
|
|
50.0
|
%
|
|
4.8
|
|
|
2.8
|
|
|
2.0
|
|
|
71.4
|
%
|
||||||
|
Other (income) and expense
(4)
|
|
1.6
|
|
|
3.6
|
|
|
(2.0
|
)
|
|
(55.6
|
)%
|
|
8.3
|
|
|
49.0
|
|
|
(40.7
|
)
|
|
(83.1
|
)%
|
||||||
|
Adjustments
(1)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
4.1
|
|
|
90.6
|
|
|
(86.5
|
)
|
|
(95.5
|
)%
|
||||||
|
Adjusted EBITDA
(2)
|
|
$
|
99.5
|
|
|
$
|
106.0
|
|
|
$
|
(6.5
|
)
|
|
(6.1
|
)%
|
|
$
|
286.1
|
|
|
$
|
296.3
|
|
|
$
|
(10.2
|
)
|
|
(3.4
|
)%
|
|
Other metrics:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
|
Cash provided by operating activities
|
|
$
|
63.8
|
|
|
$
|
66.7
|
|
|
$
|
(2.9
|
)
|
|
(4.3
|
)%
|
|
$
|
111.1
|
|
|
$
|
34.5
|
|
|
$
|
76.6
|
|
|
222.0
|
%
|
|
Capital expenditures
|
|
$
|
23.9
|
|
|
$
|
18.8
|
|
|
$
|
5.1
|
|
|
27.1
|
%
|
|
$
|
54.1
|
|
|
$
|
46.6
|
|
|
$
|
7.5
|
|
|
16.1
|
%
|
|
(1)
|
For the
nine months ended September 30, 2013
, adjustments included a $2.3 million loss on the disposal of a small operating company recorded in our International segment, a $1.1 million gain on the disposal of a healthcare product line recorded in our USIS segment and a $2.9 million one-time adjustment for a transaction tax related to prior years that was recorded in each segment and in Corporate as follows: USIS $2.6 million; and Corporate $0.3 million. For the
nine months ended September 30, 2012
, adjustments included $90.6 million of accelerated stock-based compensation and related expense recorded by the Predecessor as a result of the 2012 Change in Control Transaction that were recorded in each segment and in Corporate as follows: USIS $41.1 million; International $14.4 million; Interactive $2.3 million; and Corporate $32.8 million. See Part I, Item 1, Note 2, “2012 Change in Control Transaction,” for further information about the impact of the 2012 Change in Control Transaction.
|
|
(2)
|
Adjusted Operating Income and Adjusted EBITDA are non-GAAP measures. We present Adjusted Operating Income and Adjusted EBITDA as supplemental measures of our operating performance because they eliminate the impact of certain items that we do not consider indicative of our ongoing operating performance. In addition to its use as a measure of our operating performance, our board of directors and executive management team focus on Adjusted EBITDA as a compensation measure. Adjusted Operating Income does not reflect certain stock-based compensation and certain other income and expense. Adjusted EBITDA does not reflect our capital expenditures, interest, income tax, depreciation, amortization, stock-based compensation and certain other income and expense. Other companies in our industry may calculate Adjusted Operating Income and Adjusted EBITDA differently than we do, limiting their usefulness as comparative measures. Because of these limitations, Adjusted Operating Income and Adjusted EBITDA should not be considered in isolation or as substitutes for performance measures calculated in accordance with GAAP. Adjusted Operating Income and Adjusted EBITDA are not measures of financial condition or profitability under GAAP and should not be considered alternatives to cash flow from operating activities, as measures of liquidity or as alternatives to operating income or net income as indicators of operating performance. We believe that the most directly comparable GAAP measure to Adjusted
|
|
(3)
|
Operating income included additional depreciation and amortization beginning May 1, 2012, as a result of the purchase accounting fair value adjustments to the tangible and intangible assets recorded in connection with the 2012 Change in Control Transaction.
|
|
(4)
|
Other income and expense above includes all amounts included on our consolidated statement of income in other income and expense, net, except for earnings from equity method investments and dividends received from cost method investments. For the
three months ended September 30, 2013
, other income and expense included
$0.8 million
of acquisition-related expenses and a net $0.8 million of other expense. For the
nine months ended September 30, 2013
, other income and expense included $6.4 million of acquisition-related expenses and a net $1.9 million of other expense. For the
three months ended September 30, 2012
, other income and expense included $0.6 million of acquisition-related expenses and a net $3.0 million of other expense. For the
nine months ended September 30, 2012
, other income and expense included $41.9 million of acquisition-related expenses, primarily related to the 2012 Change in Control Transaction and the abandoned initial public offering process, and a net $7.1 million of other expense. Of the $41.9 million of acquisition-related expenses, $15.2 million was incurred by TransUnion Holding and $26.7 million was incurred by TransUnion Corp.
|
|
|
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||||||||||||||||||||||||
|
(in millions)
|
|
2013
|
|
2012
|
|
$ Change
|
|
% Change
|
|
2013
|
|
2012
|
|
$ Change
|
|
% Change
|
||||||||||||||
|
U.S. Information Services:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
|
Online Data Services
|
|
$
|
129.3
|
|
|
$
|
128.4
|
|
|
$
|
0.9
|
|
|
0.7
|
%
|
|
$
|
388.5
|
|
|
$
|
375.5
|
|
|
$
|
13.0
|
|
|
3.5
|
%
|
|
Credit Marketing Services
|
|
31.5
|
|
|
32.7
|
|
|
(1.2
|
)
|
|
(3.7
|
)%
|
|
94.2
|
|
|
99.5
|
|
|
(5.3
|
)
|
|
(5.3
|
)%
|
||||||
|
Decision Services
|
|
27.5
|
|
|
25.0
|
|
|
2.5
|
|
|
10.0
|
%
|
|
77.3
|
|
|
72.5
|
|
|
4.8
|
|
|
6.6
|
%
|
||||||
|
Total U.S. Information Services
|
|
188.3
|
|
|
186.1
|
|
|
2.2
|
|
|
1.2
|
%
|
|
560.0
|
|
|
547.5
|
|
|
12.5
|
|
|
2.3
|
%
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
|
International:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
|
Developed markets
|
|
24.6
|
|
|
22.8
|
|
|
1.8
|
|
|
7.9
|
%
|
|
71.1
|
|
|
68.2
|
|
|
2.9
|
|
|
4.3
|
%
|
||||||
|
Emerging markets
|
|
36.0
|
|
|
37.0
|
|
|
(1.0
|
)
|
|
(2.7
|
)%
|
|
106.4
|
|
|
105.7
|
|
|
0.7
|
|
|
0.7
|
%
|
||||||
|
Total International
|
|
60.6
|
|
|
59.8
|
|
|
0.8
|
|
|
1.3
|
%
|
|
177.5
|
|
|
173.9
|
|
|
3.6
|
|
|
2.1
|
%
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
|
Interactive
|
|
50.6
|
|
|
45.8
|
|
|
4.8
|
|
|
10.5
|
%
|
|
153.3
|
|
|
134.2
|
|
|
19.1
|
|
|
14.2
|
%
|
||||||
|
Total revenue
|
|
$
|
299.5
|
|
|
$
|
291.7
|
|
|
$
|
7.8
|
|
|
2.7
|
%
|
|
$
|
890.8
|
|
|
$
|
855.6
|
|
|
$
|
35.2
|
|
|
4.1
|
%
|
|
|
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||||||||||||||||||||||||
|
(in millions)
|
|
2013
|
|
2012
|
|
$ Change
|
|
% Change
|
|
2013
|
|
2012
|
|
$ Change
|
|
% Change
|
||||||||||||||
|
Cost of services
|
|
$
|
115.9
|
|
|
$
|
111.5
|
|
|
$
|
4.4
|
|
|
3.9
|
%
|
|
$
|
354.9
|
|
|
$
|
358.2
|
|
|
$
|
(3.3
|
)
|
|
(0.9
|
)%
|
|
Selling, general and administrative
|
|
86.3
|
|
|
75.8
|
|
|
10.5
|
|
|
13.9
|
%
|
|
264.5
|
|
|
298.5
|
|
|
(34.0
|
)
|
|
(11.4
|
)%
|
||||||
|
Depreciation and amortization
|
|
48.0
|
|
|
43.1
|
|
|
4.9
|
|
|
11.4
|
%
|
|
138.5
|
|
|
101.3
|
|
|
37.2
|
|
|
36.7
|
%
|
||||||
|
Total operating expenses
|
|
$
|
250.2
|
|
|
$
|
230.4
|
|
|
$
|
19.8
|
|
|
8.6
|
%
|
|
$
|
757.9
|
|
|
$
|
758.0
|
|
|
$
|
(0.1
|
)
|
|
—
|
|
|
|
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||||||||||||||||||||||||
|
(in millions)
|
|
2013
|
|
2012
|
|
$ Change
|
|
% Change
|
|
2013
|
|
2012
|
|
$ Change
|
|
% Change
|
||||||||||||||
|
Operating Income
(1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
|
U.S. Information Services
|
|
$
|
41.9
|
|
|
$
|
47.5
|
|
|
$
|
(5.6
|
)
|
|
(11.8
|
)%
|
|
$
|
122.2
|
|
|
$
|
114.0
|
|
|
$
|
8.2
|
|
|
7.2
|
%
|
|
International
|
|
9.0
|
|
|
9.9
|
|
|
(0.9
|
)
|
|
(9.1
|
)%
|
|
15.4
|
|
|
18.3
|
|
|
(2.9
|
)
|
|
(15.8
|
)%
|
||||||
|
Interactive
|
|
16.7
|
|
|
20.4
|
|
|
(3.7
|
)
|
|
(18.1
|
)%
|
|
48.0
|
|
|
44.4
|
|
|
3.6
|
|
|
8.1
|
%
|
||||||
|
Corporate
|
|
(18.3
|
)
|
|
(16.5
|
)
|
|
(1.8
|
)
|
|
(10.9
|
)%
|
|
(52.7
|
)
|
|
(79.1
|
)
|
|
26.4
|
|
|
33.4
|
%
|
||||||
|
Total operating income
|
|
$
|
49.3
|
|
|
$
|
61.3
|
|
|
$
|
(12.0
|
)
|
|
(19.6
|
)%
|
|
$
|
132.9
|
|
|
$
|
97.6
|
|
|
$
|
35.3
|
|
|
36.2
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
|
Operating Margin
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
|
U.S. Information Services
|
|
22.3
|
%
|
|
25.5
|
%
|
|
|
|
(3.2
|
)%
|
|
21.8
|
%
|
|
20.8
|
%
|
|
|
|
1.0
|
%
|
||||||||
|
International
|
|
14.9
|
%
|
|
16.6
|
%
|
|
|
|
(1.7
|
)%
|
|
8.7
|
%
|
|
10.5
|
%
|
|
|
|
(1.8
|
)%
|
||||||||
|
Interactive
|
|
33.0
|
%
|
|
44.5
|
%
|
|
|
|
(11.5
|
)%
|
|
31.3
|
%
|
|
33.1
|
%
|
|
|
|
(1.8
|
)%
|
||||||||
|
Total operating margin
|
|
16.5
|
%
|
|
21.0
|
%
|
|
|
|
(4.5
|
)%
|
|
14.9
|
%
|
|
11.4
|
%
|
|
|
|
3.5
|
%
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
|
Adjusted Operating Income
(2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
|
U.S. Information Services
|
|
$
|
41.9
|
|
|
$
|
47.5
|
|
|
$
|
(5.6
|
)
|
|
(11.8
|
)%
|
|
$
|
123.8
|
|
|
$
|
155.1
|
|
|
$
|
(31.3
|
)
|
|
(20.2
|
)%
|
|
International
|
|
9.0
|
|
|
9.9
|
|
|
(0.9
|
)
|
|
(9.1
|
)%
|
|
17.7
|
|
|
32.7
|
|
|
(15.0
|
)
|
|
(45.9
|
)%
|
||||||
|
Interactive
|
|
16.7
|
|
|
20.4
|
|
|
(3.7
|
)
|
|
(18.1
|
)%
|
|
48.0
|
|
|
46.7
|
|
|
1.3
|
|
|
2.8
|
%
|
||||||
|
Corporate
|
|
(18.3
|
)
|
|
(16.5
|
)
|
|
(1.8
|
)
|
|
(10.9
|
)%
|
|
(52.5
|
)
|
|
(46.3
|
)
|
|
(6.2
|
)
|
|
(13.4
|
)%
|
||||||
|
Total Adjusted Operating Income
|
|
$
|
49.3
|
|
|
$
|
61.3
|
|
|
$
|
(12.0
|
)
|
|
(19.6
|
)%
|
|
$
|
137.0
|
|
|
$
|
188.2
|
|
|
$
|
(51.2
|
)
|
|
(27.2
|
)%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
|
Adjusted Operating Margin
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
|
U.S. Information Services
|
|
22.3
|
%
|
|
25.5
|
%
|
|
|
|
(3.2
|
)%
|
|
22.1
|
%
|
|
28.3
|
%
|
|
|
|
(6.2
|
)%
|
||||||||
|
International
|
|
14.9
|
%
|
|
16.6
|
%
|
|
|
|
(1.7
|
)%
|
|
10.0
|
%
|
|
18.8
|
%
|
|
|
|
(8.8
|
)%
|
||||||||
|
Interactive
|
|
33.0
|
%
|
|
44.5
|
%
|
|
|
|
(11.5
|
)%
|
|
31.3
|
%
|
|
34.8
|
%
|
|
|
|
(3.5
|
)%
|
||||||||
|
Total adjusted operating margin
|
|
16.5
|
%
|
|
21.0
|
%
|
|
|
|
(4.5
|
)%
|
|
15.4
|
%
|
|
22.0
|
%
|
|
|
|
(6.6
|
)%
|
||||||||
|
(1)
|
For the
three and nine
months ended
September 30, 2013
, operating income included additional depreciation and amortization as a result of the purchase accounting fair value adjustments to the tangible and intangible assets recorded in connection with the 2012 Change in Control Transaction. The increase in depreciation and amortization in the
three months ended September 30, 2013
, compared to the
three months ended September 30, 2012
, was as follows: USIS $3.6 million; International $0.6 million; Interactive $0.4 million; and Corporate $0.4 million. The increase in depreciation and amortization in the
nine months ended September 30, 2013
, which is related primarily to the purchase accounting fair value adjustments, compared to the
nine months ended September 30, 2012
, was as follows: USIS $23.9 million; International $10.0 million; Interactive $2.1 million; and Corporate $1.3 million. For the
nine months ended September 30, 2013
, operating income included a $2.3 million loss on the disposal of a small operating company recorded in our International segment, a $1.1 million gain on the disposal of a healthcare product line recorded in our USIS segment and a $2.9 million one-time adjustment for a transaction tax related to prior years that was recorded in each segment and in Corporate as follows: USIS $2.6 million; and Corporate $0.3 million. For the
nine months ended September 30, 2012
, operating income included $90.6 million of accelerated stock-based compensation and related expense recorded by the Predecessor as a result of the 2012 Change in Control Transaction that were recorded in each segment and in Corporate as follows: USIS $41.1 million; International $14.4 million; Interactive $2.3 million; and Corporate $32.8 million. See Part I, Item 1, Note 2, “2012 Change in Control Transaction,” for further information about the impact of the 2012 Change in Control Transaction.
|
|
(2)
|
See footnote 2 to Key Performance Measure for a discussion about Adjusted Operating Income, why we use it, its limitations, and the reconciliation to its most directly comparable GAAP measure, operating income.
|
|
|
|
Three Months Ended September 30,
|
|
Nine Months Ended September 30,
|
||||||||||||||||||||||||||
|
(in millions)
|
|
2013
|
|
2012
|
|
$ Change
|
|
% Change
|
|
2013
|
|
2012
|
|
$ Change
|
|
% Change
|
||||||||||||||
|
Interest income
|
|
$
|
0.8
|
|
|
$
|
0.6
|
|
|
$
|
0.2
|
|
|
33.3
|
%
|
|
$
|
1.3
|
|
|
$
|
1.3
|
|
|
$
|
—
|
|
|
—
|
|
|
Interest expense
|
|
(49.0
|
)
|
|
(42.6
|
)
|
|
(6.4
|
)
|
|
(15.0
|
)%
|
|
(148.1
|
)
|
|
(117.9
|
)
|
|
(30.2
|
)
|
|
(25.6
|
)%
|
||||||
|
Other income and expense, net:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
|
Acquisition fees
|
|
(0.8
|
)
|
|
(0.6
|
)
|
|
(0.2
|
)
|
|
(33.3
|
)%
|
|
(6.4
|
)
|
|
(41.9
|
)
|
|
35.5
|
|
|
84.7
|
%
|
||||||
|
Loan fees
|
|
(0.3
|
)
|
|
(0.4
|
)
|
|
0.1
|
|
|
25.0
|
%
|
|
(3.6
|
)
|
|
(3.8
|
)
|
|
0.2
|
|
|
5.3
|
%
|
||||||
|
Earnings from equity method investments
|
|
3.0
|
|
|
2.9
|
|
|
0.1
|
|
|
3.4
|
%
|
|
10.3
|
|
|
9.4
|
|
|
0.9
|
|
|
9.6
|
%
|
||||||
|
Dividends from cost method investments
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
0.5
|
|
|
0.4
|
|
|
0.1
|
|
|
25.0
|
%
|
||||||
|
Other
|
|
(0.5
|
)
|
|
(2.5
|
)
|
|
2.0
|
|
|
80.0
|
%
|
|
1.7
|
|
|
(3.3
|
)
|
|
5.0
|
|
|
151.5
|
%
|
||||||
|
Total other income and expense, net
|
|
1.4
|
|
|
(0.6
|
)
|
|
2.0
|
|
|
333.3
|
%
|
|
2.5
|
|
|
(39.2
|
)
|
|
41.7
|
|
|
106.4
|
%
|
||||||
|
Non-operating income and expense
|
|
$
|
(46.8
|
)
|
|
$
|
(42.6
|
)
|
|
$
|
(4.2
|
)
|
|
(9.9
|
)%
|
|
$
|
(144.3
|
)
|
|
$
|
(155.8
|
)
|
|
$
|
11.5
|
|
|
7.4
|
%
|
|
(in millions)
|
|
TransUnion Holding Nine Months Ended September 30, 2013
|
|
TransUnion
Holding
Inception
Through
September 30,
2012
|
|
TransUnion
Corp
Predecessor
Four
Months
Ended
April 30,
2012
|
|
Combined Nine Months Ended September 30,
2012
|
|
$ Change
Nine Month
Period
|
||||||||||
|
Cash provided by operating activities
|
|
$
|
111.1
|
|
|
$
|
(17.9
|
)
|
|
$
|
52.4
|
|
|
$
|
34.5
|
|
|
$
|
76.6
|
|
|
Cash used in investing activities
|
|
(192.5
|
)
|
|
(1,524.4
|
)
|
|
(19.6
|
)
|
|
(1,544.0
|
)
|
|
1,351.5
|
|
|||||
|
Cash provided by financing activities
|
|
49.9
|
|
|
1,670.1
|
|
|
(45.0
|
)
|
|
1,625.1
|
|
|
(1,575.2
|
)
|
|||||
|
Effect of exchange rate changes on cash and cash equivalents
|
|
(5.3
|
)
|
|
(0.6
|
)
|
|
0.8
|
|
|
0.2
|
|
|
(5.5
|
)
|
|||||
|
Net change in cash and cash equivalents
|
|
$
|
(36.8
|
)
|
|
$
|
127.2
|
|
|
$
|
(11.4
|
)
|
|
$
|
115.8
|
|
|
$
|
(152.6
|
)
|
|
Period
|
|
(a) Total Number of
Shares Purchased
(1)
|
|
(b) Average Price
Paid Per Share
|
|
(c) Total Number of
Shares
Purchased as
Part of Publicly
Announced Plans
or Programs
|
|
(d) Approximate Dollar
Value of Shares that
May Yet Be Purchased
Under
the Plans or Programs
|
||||||
|
July 1 to July 31
|
|
7,786
|
|
|
$
|
11.42
|
|
|
—
|
|
|
$
|
—
|
|
|
August 1 to August 31
|
|
77,966
|
|
|
11.42
|
|
|
—
|
|
|
$
|
—
|
|
|
|
September 1 to September 30
|
|
148
|
|
|
11.42
|
|
|
—
|
|
|
$
|
—
|
|
|
|
Total
|
|
85,900
|
|
|
11.42
|
|
|
—
|
|
|
$
|
—
|
|
|
|
(1)
|
Represents shares of TransUnion Holding’s common stock that were repurchased from employees exercising stock options or from ex-employees who sold shares back to the Company upon termination.
|
|
31.1a
|
|
TransUnion Holding Company, Inc. Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
|
|
|
|
|
31.1b
|
|
TransUnion Corp. Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
|
|
|
|
|
31.2a
|
|
TransUnion Holding Company, Inc. Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
|
|
|
|
|
31.2b
|
|
TransUnion Corp. Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
|
|
|
|
|
32a
|
|
TransUnion Holding Company, Inc. Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002*
|
|
|
|
|
|
32b
|
|
TransUnion Corp. Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002*
|
|
|
|
|
|
101.INS
|
|
XBRL Instance Document
|
|
|
|
|
|
101.SCH
|
|
XBRL Taxonomy Extension Schema Document
|
|
|
|
|
|
101.CAL
|
|
XBRL Taxonomy Extension Calculation Linkbase Document
|
|
|
|
|
|
101.LAB
|
|
XBRL Taxonomy Extension Label Linkbase Document
|
|
|
|
|
|
101.PRE
|
|
XBRL Taxonomy Extension Presentation Linkbase Document
|
|
|
|
|
|
101.DEF
|
|
XBRL Taxonomy Extension Definition Linkbase Document
|
|
*
|
This exhibit shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liability of that Section. Such exhibit shall not be deemed incorporated into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934.
|
|
|
TransUnion Corp.
|
||
|
|
|
|
|
|
DATE: November 13, 2013
|
By
|
|
/s/ SAMUEL A. HAMOOD
|
|
|
|
|
Samuel A. Hamood
|
|
|
|
|
Executive Vice President, Chief Financial Officer
|
|
|
|
|
|
|
DATE: November 13, 2013
|
By
|
|
/s/ GORDON E. SCHAECHTERLE
|
|
|
|
|
Gordon E. Schaechterle
|
|
|
|
|
Chief Accounting Officer
|
|
|
|
|
(Principal Accounting Officer)
|
|
|
TransUnion Holding Company, Inc.
|
||
|
|
|
|
|
|
DATE: November 13, 2013
|
By
|
|
/s/ SAMUEL A. HAMOOD
|
|
|
|
|
Samuel A. Hamood
|
|
|
|
|
Executive Vice President, Chief Financial Officer
|
|
|
|
|
|
|
DATE: November 13, 2013
|
By
|
|
/s/ GORDON E. SCHAECHTERLE
|
|
|
|
|
Gordon E. Schaechterle
|
|
|
|
|
Chief Accounting Officer
|
|
|
|
|
(Principal Accounting Officer)
|
|
31.1a
|
|
TransUnion Holding Company, Inc. Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
|
|
|
|
|
31.1b
|
|
TransUnion Corp. Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
|
|
|
|
|
31.2a
|
|
TransUnion Holding Company, Inc. Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
|
|
|
|
|
31.2b
|
|
TransUnion Corp. Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
|
|
|
|
|
32a
|
|
TransUnion Holding Company, Inc. Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002*
|
|
|
|
|
|
32b
|
|
TransUnion Corp. Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002*
|
|
|
|
|
|
101.INS
|
|
XBRL Instance Document
|
|
|
|
|
|
101.SCH
|
|
XBRL Taxonomy Extension Schema Document
|
|
|
|
|
|
101.CAL
|
|
XBRL Taxonomy Extension Calculation Linkbase Document
|
|
|
|
|
|
101.LAB
|
|
XBRL Taxonomy Extension Label Linkbase Document
|
|
|
|
|
|
101.PRE
|
|
XBRL Taxonomy Extension Presentation Linkbase Document
|
|
|
|
|
|
101.DEF
|
|
XBRL Taxonomy Extension Definition Linkbase Document
|
|
*
|
This exhibit shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liability of that Section. Such exhibit shall not be deemed incorporated into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934.
|
No information found
* THE VALUE IS THE MARKET VALUE AS OF THE LAST DAY OF THE QUARTER FOR WHICH THE 13F WAS FILED.
| FUND | NUMBER OF SHARES | VALUE ($) | PUT OR CALL |
|---|
| DIRECTORS | AGE | BIO | OTHER DIRECTOR MEMBERSHIPS |
|---|
No information found
Customers
| Customer name | Ticker |
|---|---|
| State Street Corporation | STT |
No Suppliers Found
Price
Yield
| Owner | Position | Direct Shares | Indirect Shares |
|---|