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1550 Peachtree Street, N.W. Atlanta, Georgia 30309 |
Trevor Burns | Ben Sheidler | ||||
Investor Relations | Media Relations | ||||
(404) 885-8804 | ben.sheidler@equifax.com | ||||
trevor.burns@equifax.com |
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Equifax Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes:
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Our second quarter effective 2020 tax rate was favorably impacted by a more favorable foreign rate differential.
The increases in both periods are due to improved core credit decisioning services volumes related to improvements in the mortgage market.
The increase for the first six months of 2020 is due to increased operating income resulting from the increase in revenue, the prior year accrual for losses associated with certain legal proceedings and investigations related to the 2017 cybersecurity incident that did not recur in 2020 and an increase in Other Income resulting from the fair value adjustment of the India equity investment, partially offset by an increase in tax expense, people costs, royalty costs, technology costs and depreciation of capitalized projects.
As a result of the possible payments that could be made in 2020 related to the losses associated with certain legal proceedings and government investigations related to the 2017 cybersecurity incident, funds generated by operating activities are not expected to be sufficient to fund working capital and other cash requirements throughout 2020.
In the United States, consolidated revenue grew during the three months ended June 30, 2020, compared to the three months ended June 30 2019, reflecting very strong mortgage market related revenue in both USIS and Workforce Solutions, and very strong revenue growth in our Workforce Solutions unemployment claims management business.
Operating Expenses Cost of services...Read more
The 2020 year-to-date rate has...Read more
Due to the strong revenue...Read more
Revenue generated from our financial...Read more
Local currency fluctuations negatively impacted...Read more
The increases are due to...Read more
Local currency fluctuations against the...Read more
Local currency fluctuations against the...Read more
Local currency fluctuations against the...Read more
Local currency fluctuations against the...Read more
However, in the US, we...Read more
Beginning January 1, 2021, we...Read more
30 Operating Income and Operating...Read more
A downgrade in our credit...Read more
Total revenue was negatively impacted...Read more
Borrowings on long-term debt represent...Read more
On a local currency basis,...Read more
Any future asset impairment charges,...Read more
RECENT ACCOUNTING PRONOUNCEMENTS For information...Read more
Verification Services Revenue increased by...Read more
Internationally, all countries in which...Read more
Our effective tax rate was...Read more
Revenue in the second quarter...Read more
33 Workforce Solutions Operating Margin...Read more
The following table summarizes our...Read more
The increases were due to...Read more
USIS Operating Margin USIS operating...Read more
The margin decrease during the...Read more
Net short-term borrowings primarily represent...Read more
Revenue generated from the Employer...Read more
General corporate expense decreased $13.1...Read more
Our effective income tax rate...Read more
In light of the evolving...Read more
34 Canada On a local...Read more
Benefit Plans At December 31,...Read more
The increased margins in both...Read more
The increase in the first...Read more
The CP program is supported...Read more
Sources and Uses of Cash...Read more
The impact of changes in...Read more
The decrease is due to...Read more
Income Taxes Our effective income...Read more
Our outstanding indentures and comparable...Read more
The decrease was driven by...Read more
For the six months ended...Read more
Starting in the latter half...Read more
Employer Services Revenue increased by...Read more
We continue to generate substantial...Read more
The net proceeds of the...Read more
Additionally, we are a leading...Read more
Borrowings under the Revolver may...Read more
Asia Pacific On a local...Read more
Europe On a local currency...Read more
Latin America On a local...Read more
There were no borrowings outstanding...Read more
Our plan is to finance...Read more
Revenue growth was negatively impacted...Read more
Depreciation and amortization expense increased...Read more
Global Consumer Solutions Operating Margin...Read more
32 Online Information Solutions Revenue...Read more
Mortgage Solutions Revenue increased by...Read more
Workforce Solutions Workforce Solutions revenue...Read more
The decrease for the first...Read more
Although consolidated revenue has grown...Read more
Revenue growth was negatively impacted...Read more
Segment Financial Results USIS USIS...Read more
29 RESULTS OF OPERATIONS-THREE MONTHS...Read more
While it is reasonably possible...Read more
Risk Factors-Our business has been...Read more
The increase in cash from...Read more
The decreased margin in the...Read more
We may use the proceeds...Read more
The increases are due to...Read more
The decrease in the second...Read more
Mortgage related revenue is generally...Read more
The amendment also (i) permits...Read more
Canada's services are similar to...Read more
Financial Marketing Services Revenue increased...Read more
The increase for the second...Read more
International Operating Margin Operating margin...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-Q Quarterly Report
Material Contracts, Statements, Certifications & more
Equifax Inc provided additional information to their SEC Filing as exhibits
Ticker: EFX
CIK: 33185
Form Type: 10-Q Quarterly Report
Accession Number: 0000033185-20-000042
Submitted to the SEC: Thu Jul 23 2020 4:16:17 PM EST
Accepted by the SEC: Thu Jul 23 2020
Period: Tuesday, June 30, 2020
Industry: Consumer Credit Reporting Collection Agencies