Company Quick10K Filing
Equifax
Price141.31 EPS-3
Shares122 P/E-46
MCap17,282 P/FCF208
Net Debt3,054 EBIT-348
TEV20,337 TEV/EBIT-58
TTM 2019-09-30, in MM, except price, ratios
10-Q 2020-06-30 Filed 2020-07-23
10-Q 2020-03-31 Filed 2020-04-21
10-K 2019-12-31 Filed 2020-02-20
10-Q 2019-09-30 Filed 2019-10-25
10-Q 2019-06-30 Filed 2019-07-25
10-Q 2019-03-31 Filed 2019-05-10
10-K 2018-12-31 Filed 2019-02-21
10-Q 2018-09-30 Filed 2018-10-25
10-Q 2018-06-30 Filed 2018-07-26
10-Q 2018-03-31 Filed 2018-04-26
10-K 2017-12-31 Filed 2018-03-01
10-Q 2017-09-30 Filed 2017-11-09
10-Q 2017-06-30 Filed 2017-07-27
10-Q 2017-03-31 Filed 2017-04-27
10-K 2016-12-31 Filed 2017-02-22
10-Q 2016-09-30 Filed 2016-10-27
10-Q 2016-06-30 Filed 2016-07-28
10-Q 2016-03-31 Filed 2016-04-29
10-K 2015-12-31 Filed 2016-02-24
10-Q 2015-09-30 Filed 2015-10-22
10-Q 2015-06-30 Filed 2015-07-23
10-Q 2015-03-31 Filed 2015-04-23
10-K 2014-12-31 Filed 2015-02-25
10-Q 2014-09-30 Filed 2014-10-23
10-Q 2014-06-30 Filed 2014-07-24
10-Q 2014-03-31 Filed 2014-04-24
10-K 2013-12-31 Filed 2014-02-28
10-Q 2013-09-30 Filed 2013-11-06
10-Q 2013-06-30 Filed 2013-07-25
10-Q 2013-03-31 Filed 2013-04-25
10-K 2012-12-31 Filed 2013-02-22
10-Q 2012-09-30 Filed 2012-10-25
10-Q 2012-06-30 Filed 2012-07-26
10-Q 2012-03-31 Filed 2012-04-26
10-K 2011-12-31 Filed 2012-02-23
10-Q 2011-09-30 Filed 2011-10-27
10-Q 2011-06-30 Filed 2011-07-28
10-Q 2011-03-31 Filed 2011-04-28
10-K 2010-12-31 Filed 2011-02-23
10-Q 2010-09-30 Filed 2010-10-28
10-Q 2010-06-30 Filed 2010-07-29
10-Q 2010-03-31 Filed 2010-04-29
10-K 2009-12-31 Filed 2010-02-23
8-K 2020-07-22 Earnings, Exhibits
8-K 2020-05-07
8-K 2020-04-22
8-K 2020-04-20
8-K 2020-04-10
8-K 2020-02-12
8-K 2019-11-15
8-K 2019-10-23
8-K 2019-07-24
8-K 2019-07-19
8-K 2019-05-10
8-K 2019-05-02
8-K 2019-02-22
8-K 2019-02-22
8-K 2019-02-20
8-K 2019-02-04
8-K 2018-11-14
8-K 2018-10-24
8-K 2018-10-01
8-K 2018-09-12
8-K 2018-07-25
8-K 2018-07-16
8-K 2018-06-25
8-K 2018-05-23
8-K 2018-05-04
8-K 2018-05-03
8-K 2018-04-25
8-K 2018-03-27
8-K 2018-03-21
8-K 2018-03-01
8-K 2018-03-01

EFX 10Q Quarterly Report

Part I. Financial Information
Item 1. Financial Statements (Unaudited)
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II. Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 6. Exhibits
EX-31.1 exhibit311-20200630.htm
EX-31.2 exhibit312-20200630.htm
EX-32.1 exhibit321-20200630.htm
EX-32.2 exhibit322-20200630.htm

Equifax Earnings 2020-06-30

Balance SheetIncome StatementCash Flow
10.08.06.04.02.00.02012201420172020
Assets, Equity
0.90.60.30.0-0.3-0.62012201420172020
Rev, G Profit, Net Income
1.71.00.3-0.4-1.1-1.82012201420172020
Ops, Inv, Fin

efx-20200630
false2020-06-302020Q20000033185--12-31121,457,456622P5YP10YP5YP5YP1YP2Y800.948380.580.5125.0380.5180.5100.010.0438619,00000000331852020-01-012020-06-30xbrli:shares00000331852020-07-10iso4217:USD00000331852020-04-012020-06-3000000331852019-04-012019-06-30iso4217:USDxbrli:shares00000331852019-01-012019-06-300000033185us-gaap:ParentMember2020-04-012020-06-300000033185us-gaap:NoncontrollingInterestMember2020-04-012020-06-300000033185us-gaap:ParentMember2019-04-012019-06-300000033185us-gaap:NoncontrollingInterestMember2019-04-012019-06-300000033185us-gaap:ParentMember2020-01-012020-06-300000033185us-gaap:NoncontrollingInterestMember2020-01-012020-06-300000033185us-gaap:ParentMember2019-01-012019-06-300000033185us-gaap:NoncontrollingInterestMember2019-01-012019-06-3000000331852020-06-3000000331852019-12-3100000331852018-12-3100000331852019-06-300000033185us-gaap:CommonStockMember2020-03-310000033185us-gaap:AdditionalPaidInCapitalMember2020-03-310000033185us-gaap:RetainedEarningsMember2020-03-310000033185us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-03-310000033185us-gaap:TreasuryStockMember2020-03-310000033185us-gaap:TrustForBenefitOfEmployeesMember2020-03-310000033185us-gaap:NoncontrollingInterestMember2020-03-3100000331852020-03-310000033185us-gaap:RetainedEarningsMember2020-04-012020-06-300000033185us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-04-012020-06-300000033185us-gaap:CommonStockMember2020-04-012020-06-300000033185us-gaap:AdditionalPaidInCapitalMember2020-04-012020-06-300000033185us-gaap:TreasuryStockMember2020-04-012020-06-300000033185us-gaap:CommonStockMember2020-06-300000033185us-gaap:AdditionalPaidInCapitalMember2020-06-300000033185us-gaap:RetainedEarningsMember2020-06-300000033185us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-06-300000033185us-gaap:TreasuryStockMember2020-06-300000033185us-gaap:TrustForBenefitOfEmployeesMember2020-06-300000033185us-gaap:NoncontrollingInterestMember2020-06-300000033185us-gaap:CommonStockMember2019-03-310000033185us-gaap:AdditionalPaidInCapitalMember2019-03-310000033185us-gaap:RetainedEarningsMember2019-03-310000033185us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-03-310000033185us-gaap:TreasuryStockMember2019-03-310000033185us-gaap:TrustForBenefitOfEmployeesMember2019-03-310000033185us-gaap:NoncontrollingInterestMember2019-03-3100000331852019-03-310000033185us-gaap:RetainedEarningsMember2019-04-012019-06-300000033185us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-04-012019-06-300000033185us-gaap:CommonStockMember2019-04-012019-06-300000033185us-gaap:AdditionalPaidInCapitalMember2019-04-012019-06-300000033185us-gaap:TreasuryStockMember2019-04-012019-06-300000033185us-gaap:CommonStockMember2019-06-300000033185us-gaap:AdditionalPaidInCapitalMember2019-06-300000033185us-gaap:RetainedEarningsMember2019-06-300000033185us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-06-300000033185us-gaap:TreasuryStockMember2019-06-300000033185us-gaap:TrustForBenefitOfEmployeesMember2019-06-300000033185us-gaap:NoncontrollingInterestMember2019-06-300000033185us-gaap:CommonStockMember2019-12-310000033185us-gaap:AdditionalPaidInCapitalMember2019-12-310000033185us-gaap:RetainedEarningsMember2019-12-310000033185us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-12-310000033185us-gaap:TreasuryStockMember2019-12-310000033185us-gaap:TrustForBenefitOfEmployeesMember2019-12-310000033185us-gaap:NoncontrollingInterestMember2019-12-310000033185us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-01-012020-06-300000033185us-gaap:CommonStockMember2020-01-012020-06-300000033185us-gaap:AdditionalPaidInCapitalMember2020-01-012020-06-300000033185us-gaap:TreasuryStockMember2020-01-012020-06-300000033185us-gaap:RetainedEarningsMember2020-01-012020-06-300000033185us-gaap:RetainedEarningsMemberefx:CumulativeEffectPeriodOfAdoptionAdjustmentMember2019-12-310000033185efx:CumulativeEffectPeriodOfAdoptionAdjustmentMember2019-12-310000033185us-gaap:CommonStockMember2018-12-310000033185us-gaap:AdditionalPaidInCapitalMember2018-12-310000033185us-gaap:RetainedEarningsMember2018-12-310000033185us-gaap:AccumulatedOtherComprehensiveIncomeMember2018-12-310000033185us-gaap:TreasuryStockMember2018-12-310000033185us-gaap:TrustForBenefitOfEmployeesMember2018-12-310000033185us-gaap:NoncontrollingInterestMember2018-12-310000033185us-gaap:RetainedEarningsMember2019-01-012019-06-300000033185us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-01-012019-06-300000033185us-gaap:CommonStockMember2019-01-012019-06-300000033185us-gaap:AdditionalPaidInCapitalMember2019-01-012019-06-300000033185us-gaap:TreasuryStockMember2019-01-012019-06-300000033185us-gaap:EmployeeStockOptionMember2020-04-012020-06-300000033185us-gaap:EmployeeStockOptionMember2019-04-012019-06-300000033185us-gaap:EmployeeStockOptionMember2020-01-012020-06-300000033185us-gaap:EmployeeStockOptionMember2019-01-012019-06-300000033185us-gaap:FairValueMeasurementsRecurringMember2020-06-300000033185us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2020-06-300000033185us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2020-06-300000033185us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2020-06-300000033185us-gaap:OtherCurrentAssetsMember2020-06-300000033185us-gaap:OtherCurrentLiabilitiesMember2020-06-300000033185efx:UnitedStatesConsumerInformationSolutionsMemberefx:OnlineInformationSolutionsMemberus-gaap:OperatingSegmentsMember2020-04-012020-06-300000033185efx:UnitedStatesConsumerInformationSolutionsMemberefx:OnlineInformationSolutionsMemberus-gaap:OperatingSegmentsMember2019-04-012019-06-30xbrli:pure0000033185efx:UnitedStatesConsumerInformationSolutionsMemberefx:OnlineInformationSolutionsMemberus-gaap:OperatingSegmentsMember2020-01-012020-06-300000033185efx:UnitedStatesConsumerInformationSolutionsMemberefx:OnlineInformationSolutionsMemberus-gaap:OperatingSegmentsMember2019-01-012019-06-300000033185efx:UnitedStatesConsumerInformationSolutionsMemberefx:MortgageSolutionsMemberus-gaap:OperatingSegmentsMember2020-04-012020-06-300000033185efx:UnitedStatesConsumerInformationSolutionsMemberefx:MortgageSolutionsMemberus-gaap:OperatingSegmentsMember2019-04-012019-06-300000033185efx:UnitedStatesConsumerInformationSolutionsMemberefx:MortgageSolutionsMemberus-gaap:OperatingSegmentsMember2020-01-012020-06-300000033185efx:UnitedStatesConsumerInformationSolutionsMemberefx:MortgageSolutionsMemberus-gaap:OperatingSegmentsMember2019-01-012019-06-300000033185efx:FinancialMarketingServicesMemberefx:UnitedStatesConsumerInformationSolutionsMemberus-gaap:OperatingSegmentsMember2020-04-012020-06-300000033185efx:FinancialMarketingServicesMemberefx:UnitedStatesConsumerInformationSolutionsMemberus-gaap:OperatingSegmentsMember2019-04-012019-06-300000033185efx:FinancialMarketingServicesMemberefx:UnitedStatesConsumerInformationSolutionsMemberus-gaap:OperatingSegmentsMember2020-01-012020-06-300000033185efx:FinancialMarketingServicesMemberefx:UnitedStatesConsumerInformationSolutionsMemberus-gaap:OperatingSegmentsMember2019-01-012019-06-300000033185efx:UnitedStatesConsumerInformationSolutionsMemberus-gaap:OperatingSegmentsMember2020-04-012020-06-300000033185efx:UnitedStatesConsumerInformationSolutionsMemberus-gaap:OperatingSegmentsMember2019-04-012019-06-300000033185efx:UnitedStatesConsumerInformationSolutionsMemberus-gaap:OperatingSegmentsMember2020-01-012020-06-300000033185efx:UnitedStatesConsumerInformationSolutionsMemberus-gaap:OperatingSegmentsMember2019-01-012019-06-300000033185efx:VerificationServicesMemberefx:WorkforceMemberus-gaap:OperatingSegmentsMember2020-04-012020-06-300000033185efx:VerificationServicesMemberefx:WorkforceMemberus-gaap:OperatingSegmentsMember2019-04-012019-06-300000033185efx:VerificationServicesMemberefx:WorkforceMemberus-gaap:OperatingSegmentsMember2020-01-012020-06-300000033185efx:VerificationServicesMemberefx:WorkforceMemberus-gaap:OperatingSegmentsMember2019-01-012019-06-300000033185efx:EmployerServicesMemberefx:WorkforceMemberus-gaap:OperatingSegmentsMember2020-04-012020-06-300000033185efx:EmployerServicesMemberefx:WorkforceMemberus-gaap:OperatingSegmentsMember2019-04-012019-06-300000033185efx:EmployerServicesMemberefx:WorkforceMemberus-gaap:OperatingSegmentsMember2020-01-012020-06-300000033185efx:EmployerServicesMemberefx:WorkforceMemberus-gaap:OperatingSegmentsMember2019-01-012019-06-300000033185efx:WorkforceMemberus-gaap:OperatingSegmentsMember2020-04-012020-06-300000033185efx:WorkforceMemberus-gaap:OperatingSegmentsMember2019-04-012019-06-300000033185efx:WorkforceMemberus-gaap:OperatingSegmentsMember2020-01-012020-06-300000033185efx:WorkforceMemberus-gaap:OperatingSegmentsMember2019-01-012019-06-300000033185efx:InternationalMembersrt:AsiaPacificMemberus-gaap:OperatingSegmentsMember2020-04-012020-06-300000033185efx:InternationalMembersrt:AsiaPacificMemberus-gaap:OperatingSegmentsMember2019-04-012019-06-300000033185efx:InternationalMembersrt:AsiaPacificMemberus-gaap:OperatingSegmentsMember2020-01-012020-06-300000033185efx:InternationalMembersrt:AsiaPacificMemberus-gaap:OperatingSegmentsMember2019-01-012019-06-300000033185efx:InternationalMembersrt:EuropeMemberus-gaap:OperatingSegmentsMember2020-04-012020-06-300000033185efx:InternationalMembersrt:EuropeMemberus-gaap:OperatingSegmentsMember2019-04-012019-06-300000033185efx:InternationalMembersrt:EuropeMemberus-gaap:OperatingSegmentsMember2020-01-012020-06-300000033185efx:InternationalMembersrt:EuropeMemberus-gaap:OperatingSegmentsMember2019-01-012019-06-300000033185srt:LatinAmericaMemberefx:InternationalMemberus-gaap:OperatingSegmentsMember2020-04-012020-06-300000033185srt:LatinAmericaMemberefx:InternationalMemberus-gaap:OperatingSegmentsMember2019-04-012019-06-300000033185srt:LatinAmericaMemberefx:InternationalMemberus-gaap:OperatingSegmentsMember2020-01-012020-06-300000033185srt:LatinAmericaMemberefx:InternationalMemberus-gaap:OperatingSegmentsMember2019-01-012019-06-300000033185country:CAefx:InternationalMemberus-gaap:OperatingSegmentsMember2020-04-012020-06-300000033185country:CAefx:InternationalMemberus-gaap:OperatingSegmentsMember2019-04-012019-06-300000033185country:CAefx:InternationalMemberus-gaap:OperatingSegmentsMember2020-01-012020-06-300000033185country:CAefx:InternationalMemberus-gaap:OperatingSegmentsMember2019-01-012019-06-300000033185efx:InternationalMemberus-gaap:OperatingSegmentsMember2020-04-012020-06-300000033185efx:InternationalMemberus-gaap:OperatingSegmentsMember2019-04-012019-06-300000033185efx:InternationalMemberus-gaap:OperatingSegmentsMember2020-01-012020-06-300000033185efx:InternationalMemberus-gaap:OperatingSegmentsMember2019-01-012019-06-300000033185efx:GlobalConsumerSolutionsMemberus-gaap:OperatingSegmentsMember2020-04-012020-06-300000033185efx:GlobalConsumerSolutionsMemberus-gaap:OperatingSegmentsMember2019-04-012019-06-300000033185efx:GlobalConsumerSolutionsMemberus-gaap:OperatingSegmentsMember2020-01-012020-06-300000033185efx:GlobalConsumerSolutionsMemberus-gaap:OperatingSegmentsMember2019-01-012019-06-3000000331852020-07-012020-06-3000000331852021-01-012020-06-3000000331852023-01-012020-06-3000000331852025-01-012020-06-300000033185efx:UnitedStatesConsumerInformationSolutionsMember2019-12-310000033185efx:WorkforceMember2019-12-310000033185efx:InternationalMember2019-12-310000033185efx:GlobalConsumerSolutionsMember2019-12-310000033185efx:UnitedStatesConsumerInformationSolutionsMember2020-01-012020-06-300000033185efx:WorkforceMember2020-01-012020-06-300000033185efx:InternationalMember2020-01-012020-06-300000033185efx:GlobalConsumerSolutionsMember2020-01-012020-06-300000033185efx:UnitedStatesConsumerInformationSolutionsMember2020-06-300000033185efx:WorkforceMember2020-06-300000033185efx:InternationalMember2020-06-300000033185efx:GlobalConsumerSolutionsMember2020-06-300000033185us-gaap:DatabasesMember2020-06-300000033185us-gaap:DatabasesMember2019-12-310000033185efx:TechnologyAndSoftwareMember2020-06-300000033185efx:TechnologyAndSoftwareMember2019-12-310000033185us-gaap:CustomerRelationshipsMember2020-06-300000033185us-gaap:CustomerRelationshipsMember2019-12-310000033185efx:ProprietaryDatabaseMember2020-06-300000033185efx:ProprietaryDatabaseMember2019-12-310000033185us-gaap:NoncompeteAgreementsMember2020-06-300000033185us-gaap:NoncompeteAgreementsMember2019-12-310000033185efx:TradenamesAndOtherMember2020-06-300000033185efx:TradenamesAndOtherMember2019-12-310000033185efx:NotesTwoPointThreeZeroDueJuneTwoThousandTwentyOneMember2020-06-300000033185efx:NotesTwoPointThreeZeroDueJuneTwoThousandTwentyOneMember2019-12-310000033185efx:NotesThreePointSixZeroDueAugustTwoThousandTwentyOneMember2020-06-300000033185efx:NotesThreePointSixZeroDueAugustTwoThousandTwentyOneMember2019-12-310000033185efx:NotesFloatingRateDueAugustTwoThousandTwentyOneMember2020-06-300000033185efx:NotesFloatingRateDueAugustTwoThousandTwentyOneMember2019-12-310000033185efx:NotesThreePointThreeZeroDueDecemberTwoThousandTwentyTwoMember2020-06-300000033185efx:NotesThreePointThreeZeroDueDecemberTwoThousandTwentyTwoMember2019-12-310000033185efx:NotesThreePointNineFiveDueJuneTwoThousandTwentyThreeMember2020-06-300000033185efx:NotesThreePointNineFiveDueJuneTwoThousandTwentyThreeMember2019-12-310000033185efx:NotesTwoPointSixZeroPercentDueDecember2024Member2020-06-300000033185efx:NotesTwoPointSixZeroPercentDueDecember2024Member2019-12-310000033185efx:NotesTwoPointSixZeroPercentDueDecember2025Member2020-06-300000033185efx:NotesTwoPointSixZeroPercentDueDecember2025Member2019-12-310000033185efx:NotesThreePointTwoFiveDueJuneTwoThousandTwentySixMember2020-06-300000033185efx:NotesThreePointTwoFiveDueJuneTwoThousandTwentySixMember2019-12-310000033185efx:DebenturesSixPointNineZeroPercentDueJulyTwentyTwentyEightMember2020-06-300000033185efx:DebenturesSixPointNineZeroPercentDueJulyTwentyTwentyEightMember2019-12-310000033185efx:NotesThreePointOnePercentDueMay2030Member2020-06-300000033185efx:NotesThreePointOnePercentDueMay2030Member2019-12-310000033185efx:NotesSevenPointZeroPercentDueJulyTwentyThirtySevenMember2020-06-300000033185efx:NotesSevenPointZeroPercentDueJulyTwentyThirtySevenMember2019-12-310000033185efx:DebtOtherMember2020-06-300000033185efx:DebtOtherMember2019-12-310000033185efx:NotesTwoPointSixZeroPercentDueDecember2025Member2020-04-220000033185efx:NotesTwoPointSixZeroPercentDueDecember2025Member2020-04-222020-04-220000033185efx:NotesThreePointOnePercentDueMay2030Member2020-04-220000033185efx:NotesThreePointOnePercentDueMay2030Member2020-04-222020-04-220000033185efx:NotesTwoPointSixZeroPercentDueDecember2024Member2019-11-150000033185efx:NotesTwoPointSixZeroPercentDueDecember2024Member2019-11-152019-11-150000033185us-gaap:RevolvingCreditFacilityMember2018-09-300000033185us-gaap:RevolvingCreditFacilityMember2018-09-012018-09-300000033185us-gaap:RevolvingCreditFacilityMember2018-08-3100000331852018-09-30efx:extension0000033185us-gaap:RevolvingCreditFacilityMember2019-09-300000033185us-gaap:RevolvingCreditFacilityMember2020-06-300000033185us-gaap:CommercialPaperMember2020-06-300000033185srt:MaximumMember2019-01-012019-06-300000033185us-gaap:CommercialPaperMember2020-06-300000033185efx:ReceivablesSecuritizationFacilityMember2017-12-310000033185efx:ReceivablesSecuritizationFacilityMember2017-01-012017-12-310000033185efx:ReceivablesSecuritizationFacilityMember2020-06-300000033185us-gaap:LetterOfCreditMember2020-06-300000033185srt:MaximumMember2020-01-012020-06-300000033185us-gaap:OtherCurrentLiabilitiesMemberefx:CybersecurityIncidentMember2019-01-012019-12-31efx:office0000033185efx:CybersecurityIncidentMember2020-06-300000033185efx:CybersecurityIncidentMember2019-07-192019-07-220000033185srt:MaximumMemberefx:CybersecurityIncidentMember2019-07-192019-07-220000033185efx:CybersecurityIncidentMemberefx:MSAGGroupMember2019-07-192019-07-220000033185efx:CFPBMemberefx:CybersecurityIncidentMember2019-07-192019-07-220000033185efx:NYDFSMemberefx:CybersecurityIncidentMember2019-07-192019-07-22efx:claim0000033185stpr:GA2017-12-310000033185stpr:GA2018-01-012018-09-300000033185country:CA2017-12-31efx:plaintiff0000033185country:CA2017-01-012017-12-310000033185srt:MinimumMember2020-06-300000033185srt:MaximumMember2020-06-300000033185us-gaap:AccumulatedTranslationAdjustmentMember2019-12-310000033185us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2019-12-310000033185us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2019-12-310000033185us-gaap:AccumulatedTranslationAdjustmentMember2020-01-012020-06-300000033185us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-01-012020-06-300000033185us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2020-01-012020-06-300000033185us-gaap:AccumulatedTranslationAdjustmentMember2020-06-300000033185us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-06-300000033185us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2020-06-300000033185us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember2020-01-012020-06-300000033185us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember2020-01-012020-06-300000033185us-gaap:PensionPlansDefinedBenefitMember2020-04-012020-06-300000033185us-gaap:PensionPlansDefinedBenefitMember2019-04-012019-06-300000033185us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2020-04-012020-06-300000033185us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2019-04-012019-06-300000033185us-gaap:PensionPlansDefinedBenefitMember2020-01-012020-06-300000033185us-gaap:PensionPlansDefinedBenefitMember2019-01-012019-06-300000033185us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2020-01-012020-06-300000033185us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2019-01-012019-06-30efx:segment0000033185us-gaap:CorporateNonSegmentMember2020-04-012020-06-300000033185us-gaap:CorporateNonSegmentMember2019-04-012019-06-300000033185us-gaap:CorporateNonSegmentMember2020-01-012020-06-300000033185us-gaap:CorporateNonSegmentMember2019-01-012019-06-300000033185efx:UnitedStatesConsumerInformationSolutionsMemberus-gaap:OperatingSegmentsMember2020-06-300000033185efx:UnitedStatesConsumerInformationSolutionsMemberus-gaap:OperatingSegmentsMember2019-12-310000033185efx:WorkforceMemberus-gaap:OperatingSegmentsMember2020-06-300000033185efx:WorkforceMemberus-gaap:OperatingSegmentsMember2019-12-310000033185efx:InternationalMemberus-gaap:OperatingSegmentsMember2020-06-300000033185efx:InternationalMemberus-gaap:OperatingSegmentsMember2019-12-310000033185efx:GlobalConsumerSolutionsMemberus-gaap:OperatingSegmentsMember2020-06-300000033185efx:GlobalConsumerSolutionsMemberus-gaap:OperatingSegmentsMember2019-12-310000033185us-gaap:CorporateNonSegmentMember2020-06-300000033185us-gaap:CorporateNonSegmentMember2019-12-31



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 10-Q
(Mark One)
QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 
For the quarterly period ended June 30, 2020
 
OR
TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 
For the transition period from                                      to                                      .
 
Commission File Number: 001-06605
 

EQUIFAX INC.
(Exact name of registrant as specified in its charter) 

Georgia58-0401110
(State or other jurisdiction of(I.R.S. Employer
incorporation or organization)Identification No.)
 
1550 Peachtree StreetN.W. AtlantaGeorgia30309
(Address of principal executive offices)(Zip Code)
 
404-885-8000
(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of each exchange on which registered
Common stock, $1.25 par value per shareEFXNew York Stock Exchange
 
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes       No   
 
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes       No   
 
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):
Large accelerated filerAccelerated filerNon-accelerated filerSmaller reporting companyEmerging growth company
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes    No  

On July 10, 2020, there were 121,457,456 shares of the registrant’s common stock outstanding.



EQUIFAX INC.
 
QUARTERLY REPORT ON FORM 10-Q
 
QUARTER ENDED JUNE 30, 2020
 
INDEX
 
  Page
 
 
 
 
 
 
 
 
 
2


FORWARD-LOOKING STATEMENTS
 
This report contains information that may constitute “forward-looking statements.” Generally, the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “project,” “will,” “may” and similar expressions identify forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future, including statements relating to future operating results, the 2017 cybersecurity incident, improvements in our information technology and data security infrastructure, including as part of our EFX 2020 cloud technology, data and security transformation, our strategy, our ability to mitigate or manage disruptions posed by COVID-19, the impact of COVID-19 and changes in U.S. and worldwide economic conditions that materially impact consumer spending, consumer debt and employment and the demand for Equifax's products and services, our culture, our ability to innovate, the market acceptance of new products and services and similar statements about our business plans are forward-looking statements. Management believes that these forward-looking statements are reasonable as and when made. However, forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from the Company’s historical experience and our present expectations or projections. These risks and uncertainties include, but are not limited to, those described in Part II, “Item 1A. Risk Factors,” and elsewhere in our Annual Report on Form 10-K for the year ended December 31, 2019 and Quarterly Report on Form 10-Q for the three months ended March 31, 2020, in Part II, “Item 1A. Risk Factors” and elsewhere in this report, and those described from time to time in our future reports filed with the Securities and Exchange Commission. As a result of such risks and uncertainties, we urge you not to place undue reliance on any forward-looking statements. Forward-looking statements speak only as of the date when made. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
3


PART I.  FINANCIAL INFORMATION
 
ITEM 1.  FINANCIAL STATEMENTS (UNAUDITED)
 
EQUIFAX INC.
 

CONSOLIDATED STATEMENTS OF INCOME
 
(Unaudited)

Three Months Ended 
June 30,
 20202019
(In millions, except per share amounts)
Operating revenue$982.8  $880.0  
Operating expenses:  
Cost of services (exclusive of depreciation and amortization below)409.3  376.9  
Selling, general and administrative expenses309.9  306.8  
Depreciation and amortization96.8  82.5  
Total operating expenses816.0  766.2  
Operating income166.8  113.8  
Interest expense(36.6) (27.6) 
Other (loss) income, net(7.5) 2.8  
Consolidated income before income taxes122.7  89.0  
Provision for income taxes(26.6) (20.7) 
Consolidated net income96.1  68.3  
Less: Net income attributable to noncontrolling interests including redeemable noncontrolling interests(0.2) (1.5) 
Net income attributable to Equifax$95.9  $66.8  
Basic earnings per common share:  
Net income attributable to Equifax$0.79  $0.55  
Weighted-average shares used in computing basic earnings per share121.4  120.8  
Diluted earnings per common share:  
Net income attributable to Equifax$0.78  $0.55  
Weighted-average shares used in computing diluted earnings per share122.7  122.0  
Dividends per common share$0.39  $0.39  

See Notes to Consolidated Financial Statements.
4


EQUIFAX INC.


CONSOLIDATED STATEMENTS OF INCOME (LOSS)
 
(Unaudited)


Six Months Ended June 30,
20202019
(In millions, except per share amounts)(Unaudited)
Operating revenue$1,940.8  $1,726.1  
Operating expenses:
Cost of services (exclusive of depreciation and amortization below)823.4  764.4  
Selling, general and administrative expenses626.0  1,305.6  
Depreciation and amortization188.7  160.1  
Total operating expenses1,638.1  2,230.1  
Operating income (loss)302.7  (504.0) 
Interest expense(67.3) (54.3) 
Other income, net37.8  4.9  
Consolidated income (loss) before income taxes273.2  (553.4) 
(Provision) benefit for income taxes(62.6) 67.3  
Consolidated net income (loss)210.6  (486.1) 
Less: Net income attributable to noncontrolling interests including redeemable noncontrolling interests(2.1) (3.0) 
Net income (loss) attributable to Equifax$208.5  $(489.1) 
Basic earnings per common share:
Net income (loss) attributable to Equifax$1.72  $(4.05) 
Weighted-average shares used in computing basic earnings per share121.4  120.8  
Diluted earnings per common share:
Net income (loss) attributable to Equifax$1.70  $(4.02) 
Weighted-average shares used in computing diluted earnings per share122.7  121.8  
Dividends per common share$0.78  $0.78  

See Notes to Consolidated Financial Statements.
5

EQUIFAX INC.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
 
(Unaudited)
 
 Three Months Ended June 30,
20202019
Equifax
Shareholders
Noncontrolling
Interests
TotalEquifax
Shareholders
Noncontrolling
Interests
Total
 (In millions)
Net income$95.9  $0.2  $96.1  $66.8  $1.5  $68.3  
Other comprehensive income (loss):      
Foreign currency translation adjustment233.4  0.5  233.9  (57.1) (1.0) (58.1) 
Change in unrecognized prior service cost and actuarial losses related to our pension and other postretirement benefit plans, net3.8    3.8  3.0    3.0  
Comprehensive income$333.1  $0.7  $333.8  $12.7  $0.5  $13.2  



Six Months Ended June 30,
20202019
Equifax
Shareholders
Noncontrolling
Interests
TotalEquifax
Shareholders
Noncontrolling
Interests
Total
(In millions)
Net income (loss)$208.5  $2.1  $210.6  $(489.1) $3.0  $(486.1) 
Other comprehensive income (loss):
Foreign currency translation adjustment(57.6) (1.7) (59.3) (19.8) (0.2) (20.0) 
Change in unrecognized prior service cost and actuarial losses related to our pension and other postretirement benefit plans, net7.5    7.5  6.0    6.0  
Change in cumulative loss from cash flow hedging transactions, net      0.1    0.1  
Comprehensive income (loss)$158.4  $0.4  $158.8  $(502.8) $2.8  $(500.0) 


See Notes to Consolidated Financial Statements.
6

EQUIFAX INC.

CONSOLIDATED BALANCE SHEETS

(Unaudited)
June 30, 2020December 31, 2019
(In millions, except par values) 
ASSETS  
Current assets:  
Cash and cash equivalents$1,347.4  $401.3  
Trade accounts receivable, net of allowance for doubtful accounts of $16.9 and $11.2 at June 30, 2020 and December 31, 2019, respectively
592.5  532.1  
Prepaid expenses121.1  88.1  
Other current assets43.9  187.9  
Total current assets2,104.9  1,209.4  
Property and equipment:  
Capitalized internal-use software and system costs1,147.0  979.4  
Data processing equipment and furniture328.2  325.1  
Land, buildings and improvements235.0  236.3  
Total property and equipment1,710.2  1,540.8  
Less accumulated depreciation and amortization(693.0) (593.2) 
Total property and equipment, net1,017.2  947.6  
Goodwill4,322.9  4,308.3  
Indefinite-lived intangible assets94.8  94.9  
Purchased intangible assets, net1,012.7  1,044.6  
Other assets, net280.3  304.2  
Total assets$8,832.8  $7,909.0  
LIABILITIES AND EQUITY 
Current liabilities:  
Short-term debt and current maturities of long-term debt$503.7  $3.1  
Accounts payable149.4  148.3  
Accrued expenses178.0  163.5  
Accrued salaries and bonuses156.9  156.1  
Deferred revenue98.6  104.0  
Other current liabilities569.8  784.1  
Total current liabilities1,656.4  1,359.1  
Long-term debt3,872.1  3,379.5  
Deferred income tax liabilities, net287.9  248.0  
Long-term pension and other postretirement benefit liabilities110.6  118.9  
Other long-term liabilities171.5  180.6  
Total liabilities6,098.5  5,286.1  
Commitments and Contingencies (see Note 5)
Equifax shareholders' equity: 
Preferred stock, $0.01 par value: Authorized shares - 10.0; Issued shares - none
    
Common stock, $1.25 par value: Authorized shares - 300.0;
Issued shares - 189.3 at June 30, 2020 and December 31, 2019;
Outstanding shares - 121.5 and 121.2 at June 30, 2020 and December 31, 2019, respectively
236.6  236.6  
Paid-in capital1,447.8  1,405.1  
Retained earnings4,248.0  4,131.8  
Accumulated other comprehensive loss(681.7) (631.6) 
Treasury stock, at cost, 67.2 shares and 67.5 shares at June 30, 2020 and December 31, 2019, respectively
(2,550.7) (2,557.4) 
Stock held by employee benefit trusts, at cost, 0.6 shares at June 30, 2020 and December 31, 2019
(5.9) (5.9) 
Total Equifax shareholders’ equity2,694.1  2,578.6  
Noncontrolling interests including redeemable noncontrolling interests40.2  44.3  
Total equity2,734.3  2,622.9  
Total liabilities and equity$8,832.8  $7,909.0  

 See Notes to Consolidated Financial Statements.
7

EQUIFAX INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS
 
(Unaudited)

Six Months Ended June 30,
 20202019
(In millions)
Operating activities:  
Consolidated net income (loss)$210.6  $(486.1) 
Adjustments to reconcile consolidated net income (loss) to net cash provided by operating activities:  
Depreciation and amortization192.1  163.1  
Stock-based compensation expense31.7  29.8  
Deferred income taxes29.5  (84.6) 
Gain on fair market value adjustment of equity investment(32.9)   
Changes in assets and liabilities, excluding effects of acquisitions: 
Accounts receivable, net(65.3) (30.2) 
Other assets, current and long-term29.3  34.8  
Current and long term liabilities, excluding debt(113.0) 621.2  
Cash provided by operating activities282.0  248.0  
Investing activities: 
Capital expenditures(192.8) (208.5) 
Acquisitions, net of cash acquired(48.1) (234.8) 
Investment in unconsolidated affiliates, net(10.0) (25.0) 
Cash used in investing activities(250.9) (468.3) 
Financing activities: 
Net short-term borrowings0.8  27.2  
Payments on long-term debt(125.0) (50.0) 
Borrowings on long-term debt1,123.3  250.0  
Dividends paid to Equifax shareholders(94.6) (94.2) 
Dividends paid to noncontrolling interests(1.6) (4.7) 
Proceeds from exercise of stock options22.9  6.1  
Payment of taxes related to settlement of equity awards  (4.6) 
Debt issuance costs(9.8)   
Other0.3    
Cash provided by financing activities916.3  129.8  
Effect of foreign currency exchange rates on cash and cash equivalents(1.3) 2.7  
Increase (decrease) in cash and cash equivalents946.1  (87.8) 
Cash and cash equivalents, beginning of period401.3  223.6  
Cash and cash equivalents, end of period$1,347.4  $135.8  
 
See Notes to Consolidated Financial Statements.
8

EQUIFAX INC.

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY AND OTHER COMPREHENSIVE LOSS
 
(Unaudited)

For the Three Months Ended June 30, 2020
 
 Equifax Shareholders  
Accumulated Other Comprehensive LossStock
Held By Employee Benefits Trusts
 Common Stock     
Shares
Outstanding
AmountPaid-In
Capital
Retained
Earnings
Treasury
Stock
Noncontrolling
Interests
Total
Equity
 (In millions, except per share amounts)
Balance, March 31, 2020121.4  $236.6  $1,431.7  $4,196.9  $(918.9) $(2,553.9) $(5.9) $43.3  $2,429.8  
Net income—  —  —  95.9  —  —  —  0.2  96.1  
Other comprehensive income—  —  —  —  237.2  —  —  0.5  237.7  
Shares issued under stock and benefit plans, net of minimum tax withholdings0.1  —  2.8  —  —  3.2  —  —  6.0  
Cash dividends ($0.39 per share)
—  —  —  (47.6) —  —  —  —  (47.6) 
Dividends paid to employee benefits trusts—  —  0.2  —  —  —  —  —  0.2  
Stock-based compensation expense—  —  13.1  —  —  —  —  —  13.1  
Redeemable noncontrolling interest adjustment—  —  —  2.8  —  —  —  (2.8)   
Dividends paid to noncontrolling interests—  —  —  —  —  —  —  (1.3) (1.3) 
Other—  —  —  —  —  —  —  0.3  0.3  
Balance, June 30, 2020121.5  $236.6  $1,447.8  $4,248.0  $(681.7) $(2,550.7) $(5.9) $40.2  $2,734.3  

At June 30, 2020, $590.1 million was available for future purchases of common stock under our share repurchase authorization.

For the Three Months Ended June 30, 2019

 Equifax Shareholders  
Accumulated Other Comprehensive LossStock
Held By Employee Benefits Trusts
 Common Stock     
Shares
Outstanding
AmountPaid-In
Capital
Retained
Earnings
Treasury
Stock
Noncontrolling
Interests
Total
Equity
 (In millions, except per share amounts)
Balance, March 31, 2019120.8  $236.6  $1,369.4  $4,115.4