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Equifax Inc (EFX) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2020

Equifax Inc

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CIK: 33185 Ticker: EFX



Exhibit 99.1
equifaxlogoa131a.jpg 
  
 1550 Peachtree Street, N.W. Atlanta, Georgia 30309

NEWS RELEASE

Contact:
 
Dorian HareBen Sheidler
Investor RelationsMedia Relations
(404) 885-8210404-885-8332
dorian.hare@equifax.comMediainquiries@equifax.com


ATLANTA, February 10, 2021
 -- Equifax Inc. (NYSE: EFX) today announced financial results for the quarter and full year ended December 31, 2020.

“Equifax delivered its fourth consecutive quarter of strong double-digit growth and margin expansion, concluding a record year in which we delivered over $4 billion in revenue for the first time. Workforce Solutions and U.S. Information Services outperformance fueled our 23% revenue growth in the fourth quarter by leveraging our new Equifax Cloud capabilities, new product roll-outs, new data assets, and customer growth,” said Mark W. Begor, Equifax Chief Executive Officer. “We are entering a new chapter at Equifax as we leverage our expanding cloud native data, analytics and technology infrastructure to accelerate innovation, new products and growth. Our strong performance in these challenging times reflects the strength and resiliency of our business model as we look to build upon our momentum and focus on growth in 2021 and beyond. We are increasing our focus on acquisitions that will accelerate our growth including our acquisition of Kount in Identity and Fraud. Based on our confidence in the future we plan to restart our share repurchase program at an expected level over $100 million in 2021, to offset dilution from employee benefit plans.”

Financial Results Summary

The Company reported revenue of $1,118.5 million in the fourth quarter of 2020, a 23 percent increase from the fourth quarter of 2019 on both a reported and local currency basis.
 
Fourth quarter 2020 diluted EPS attributable to Equifax was $0.61 per share, up from $0.13 per share in the fourth quarter of 2019.

Net income attributable to Equifax of $74.5 million was up from $15.8 million in the fourth quarter of 2019.

In the fourth quarter, Equifax incurred a $31.9 million charge related to right sizing the organization as investments in technology transformation are reduced in 2021 relative to 2020.
 
For the full year 2020, revenue was $4,127.5 million, an 18 percent increase from 2019 on both a reported and local currency basis. Diluted EPS attributable to Equifax was $4.24 per share, up from a loss of $3.15 per share for the full year 2019. Net income attributable to Equifax was $520.1 million, up compared to a net loss of $384.1 million for the full year 2019.

As further discussed in the attached Common Questions and Answers, our pension accounting method has changed to mark-to-market during the fourth quarter of 2020. The change in accounting method has been applied retrospectively for the periods presented in this earnings release. The mark-to-market adjustment for 2020 resulted in a $32.2 million loss.


1

The following information was filed by Equifax Inc (EFX) on Wednesday, February 10, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Equifax Inc's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Cover Page
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (Parenthetical)
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Income (Loss)
Consolidated Statements Of Shareholders' Equity And Accumulated Other Comprehensive Loss
Consolidated Statements Of Shareholders' Equity And Accumulated Other Comprehensive Loss (Parenthetical)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (Tables)
Accumulated Other Comprehensive Loss - Changes In Accumulated Other Comprehensive Income (Details)
Acquisitions And Investments
Acquisitions And Investments (Tables)
Acquisitions And Investments - Acquired Intangible Assets Fair Value And Weighted-Average Useful Life (Details)
Acquisitions And Investments - Narrative (Details)
Acquisitions And Investments - Schedule Assets And Liabilities (Details)
Benefit Plans
Benefit Plans (Tables)
Benefit Plans - Asset Allocation Ranges And Actual Allocation, Crip (Details)
Benefit Plans - Asset Allocation Ranges And Actual Allocation, Usrip) (Details)
Benefit Plans - Components Of Net Periodic Benefit Cost (Details)
Benefit Plans - Estimated Future Benefits Payable For Retirement And Postretirement Plans (Details)
Benefit Plans - Fair Value Of Pension Assets (Details)
Benefit Plans - Fair Value Of Postretirement Assets (Details)
Benefit Plans - Narrative (Details)
Benefit Plans - Net Amounts Recognized, Or Funded Status Of Pension And Other Postretirement Benefit Plans (Details)
Benefit Plans - Reconciliation Of Beginning And Ending Balances For Plan Assets Valued Using Significant Unobservable Inputs (Details)
Benefit Plans - Reconciliation Of Projected Benefit Obligations, Plan Assets And Funded Status Of Plans (Details)
Benefit Plans - Weighted-Average Assumptions Used To Determine Benefit Obligations (Details)
Benefit Plans - Weighted-Average Assumptions Used To Determine Net Periodic Benefit Cost (Details)
Commitments And Contingencies
Commitments And Contingencies - Narrative (Details)
Debt
Debt (Tables)
Debt - Narrative (Details)
Debt - Schedule Of Debt Outstanding (Details)
Debt - Scheduled Future Maturities Of Debt (Details)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Tables)
Goodwill And Other Intangible Assets - Changes In Amount Of Goodwill (Details)
Goodwill And Other Intangible Assets - Estimated Future Amortization Expense (Details)
Goodwill And Other Intangible Assets - Indefinite-Lived Intangible Assets (Details)
Goodwill And Other Intangible Assets - Narrative (Details)
Goodwill And Other Intangible Assets - Purchased Intangible Assets (Details)
Impact Of Change In Accounting Principle On Current And Prior Period Financial Statements
Impact Of Change In Accounting Principle On Current And Prior Period Financial Statements (Details)
Impact Of Change In Accounting Principle On Current And Prior Period Financial Statements (Tables)
Income Taxes
Income Taxes (Tables)
Income Taxes - Components Of Deferred Income Tax Assets And Liabilities (Details)
Income Taxes - Deferred Income Tax Assets And Liabilities (Details)
Income Taxes - Domestic And Foreign Income From Continuing Operations Before Income Taxes (Details)
Income Taxes - Narrative (Details)
Income Taxes - Provision For Income Taxes From Continuing Operations (Details)
Income Taxes - Provision For Income Taxes Reconciles With U.S. Federal Statutory Rate (Details)
Income Taxes - Reconciliation Of Beginning And Ending Amount Of Unrecognized Tax Benefits (Details)
Leases
Leases (Tables)
Leases - Estimated Future Minimum Payment Obligations For Operating Leases (Details)
Leases - Narrative (Details)
Leases - Other Information (Details)
Quarterly Financial Data (Unaudited)
Quarterly Financial Data (Unaudited) (Tables)
Quarterly Financial Data (Unaudited) - Impact Of Change In Accounting Principle (Details)
Quarterly Financial Data (Unaudited) - Narrative (Details)
Quarterly Financial Data (Unaudited) - Quarterly Financial Data (Details)
Restructuring Charges
Restructuring Charges (Details)
Revenue
Revenue (Tables)
Revenue - Disaggregation Of Revenue (Details)
Schedule Ii - Valuation And Qualifying Accounts
Schedule Ii - Valuation And Qualifying Accounts (Details)
Segment Information
Segment Information (Tables)
Segment Information - Financial Information By Geographic Area (Details)
Segment Information - Narrative (Details)
Segment Information - Segment Information (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Assumptions Used To Estimate Fair Value Of Stock Options Granted (Details)
Stock-Based Compensation - Changes In Outstanding Options And Weighed-Average Exercise Price Per Share (Details)
Stock-Based Compensation - Narrative (Details)
Stock-Based Compensation - Summary Of Changes In Nonvested Stock And Weighted-Average Grant Date Fair Value (Details)
Stock-Based Compensation - Total Stock-Based Compensation Expense (Details)
Subsequent Event
Subsequent Event (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Assets And Liabilities Measured At Fair Value On Recurring Basis (Details)
Summary Of Significant Accounting Policies - Narrative (Details)
Summary Of Significant Accounting Policies - Reconciliation Of Weighted-Average Outstanding Shares Used In Calculations Of Basic And Diluted Eps (Details)
Summary Of Significant Accounting Policies - Rollforward Of Allowance For Doubtful Accounts (Details)
Summary Of Significant Accounting Policies - Schedule Of Revenue, Remaining Performance Obligation (Details)
Summary Of Significant Accounting Policies - Useful Life Of Other Purchased Intangible Assets (Details)
Ticker: EFX
CIK: 33185
Form Type: 10-K Annual Report
Accession Number: 0000033185-21-000025
Submitted to the SEC: Thu Feb 25 2021 4:41:22 PM EST
Accepted by the SEC: Thu Feb 25 2021
Period: Thursday, December 31, 2020
Industry: Consumer Credit Reporting Collection Agencies

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