2014 Q2 Form 10-Q Financial Statement

#000114420414044723 Filed on July 24, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2013 Q2
Revenue $613.9M $586.9M
YoY Change 4.6% 14.34%
Cost Of Revenue $212.3M $198.2M
YoY Change 7.11% 5.88%
Gross Profit $401.6M $388.7M
YoY Change 3.32% 19.2%
Gross Profit Margin 65.42% 66.23%
Selling, General & Admin $183.5M $186.5M
YoY Change -1.61% 18.94%
% of Gross Profit 45.69% 47.98%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $51.00M $44.20M
YoY Change 15.38% 7.54%
% of Gross Profit 12.7% 11.37%
Operating Expenses $183.5M $186.5M
YoY Change -1.61% 18.94%
Operating Profit $167.4M $158.1M
YoY Change 5.88% 22.56%
Interest Expense $17.40M $17.60M
YoY Change -1.14% 28.47%
% of Operating Profit 10.39% 11.13%
Other Income/Expense, Net $500.0K $3.500M
YoY Change -85.71% 59.09%
Pretax Income $150.5M $144.0M
YoY Change 4.51% 22.55%
Income Tax $56.00M $51.70M
% Of Pretax Income 37.21% 35.9%
Net Earnings $92.80M $90.50M
YoY Change 2.54% 18.46%
Net Earnings / Revenue 15.12% 15.42%
Basic Earnings Per Share $0.76 $0.75
Diluted Earnings Per Share $0.75 $0.73
COMMON SHARES
Basic Shares Outstanding 122.0M shares 121.0M shares
Diluted Shares Outstanding 124.3M shares 123.6M shares

Balance Sheet

Concept 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $91.70M $104.9M
YoY Change -12.58% -42.71%
Cash & Equivalents $91.70M $104.9M
Short-Term Investments
Other Short-Term Assets $73.90M $55.30M
YoY Change 33.63% 464.29%
Inventory
Prepaid Expenses $43.30M $33.90M
Receivables $345.3M $318.5M
Other Receivables $0.00 $0.00
Total Short-Term Assets $554.2M $512.6M
YoY Change 8.12% -0.85%
LONG-TERM ASSETS
Property, Plant & Equipment $292.3M $279.3M
YoY Change 4.65% -3.26%
Goodwill $2.646B $2.248B
YoY Change 17.69% 14.63%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $147.7M $160.7M
YoY Change -8.09% 5.31%
Total Long-Term Assets $4.212B $3.861B
YoY Change 9.09% 28.52%
TOTAL ASSETS
Total Short-Term Assets $554.2M $512.6M
Total Long-Term Assets $4.212B $3.861B
Total Assets $4.766B $4.374B
YoY Change 8.98% 24.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $40.90M $17.80M
YoY Change 129.78% -41.06%
Accrued Expenses $98.00M $83.80M
YoY Change 16.95% 30.73%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $409.8M $76.50M
YoY Change 435.69% 350.0%
Total Short-Term Liabilities $759.8M $375.8M
YoY Change 102.18% 27.91%
LONG-TERM LIABILITIES
Long-Term Debt $1.146B $1.429B
YoY Change -19.84% 50.15%
Other Long-Term Liabilities $56.60M $53.30M
YoY Change 6.19% 4.51%
Total Long-Term Liabilities $1.202B $1.482B
YoY Change -18.9% 47.83%
TOTAL LIABILITIES
Total Short-Term Liabilities $759.8M $375.8M
Total Long-Term Liabilities $1.202B $1.482B
Total Liabilities $2.325B $2.254B
YoY Change 3.17% 33.1%
SHAREHOLDERS EQUITY
Retained Earnings $3.424B $3.203B
YoY Change 6.92% 7.35%
Common Stock $1.434B $1.393B
YoY Change 2.96% 2.25%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.150B $2.114B
YoY Change 1.72% -1.4%
Treasury Stock Shares 66.90M shares 67.40M shares
Shareholders Equity $2.403B $2.096B
YoY Change
Total Liabilities & Shareholders Equity $4.766B $4.374B
YoY Change 8.98% 24.21%

Cashflow Statement

Concept 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income $92.80M $90.50M
YoY Change 2.54% 18.46%
Depreciation, Depletion And Amortization $51.00M $44.20M
YoY Change 15.38% 7.54%
Cash From Operating Activities $152.8M $136.5M
YoY Change 11.94% -8.39%
INVESTING ACTIVITIES
Capital Expenditures -$19.20M -$17.50M
YoY Change 9.71% 22.38%
Acquisitions
YoY Change
Other Investing Activities -$500.0K $1.400M
YoY Change -135.71% -227.27%
Cash From Investing Activities -$19.70M -$16.10M
YoY Change 22.36% 4.55%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -144.4M -119.0M
YoY Change 21.34% 58.46%
NET CHANGE
Cash From Operating Activities 152.8M 136.5M
Cash From Investing Activities -19.70M -16.10M
Cash From Financing Activities -144.4M -119.0M
Net Change In Cash -11.30M 1.400M
YoY Change -907.14% -97.61%
FREE CASH FLOW
Cash From Operating Activities $152.8M $136.5M
Capital Expenditures -$19.20M -$17.50M
Free Cash Flow $172.0M $154.0M
YoY Change 11.69% -5.7%

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RepaymentsOfLongTermDebt
15000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
15000000 USD
CY2013Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
202200000 USD
CY2014Q2 us-gaap Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax
AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax
-1800000 USD
CY2013Q4 us-gaap Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax
AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax
-1900000 USD
us-gaap Stockholders Equity Other
StockholdersEquityOther
500000 USD
CY2014Q2 efx Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Goodwill
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedGoodwill
230700000 USD
CY2014Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
358800000 USD
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
179700000 USD
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
193300000 USD
CY2013Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
83600000 USD
CY2014Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
111500000 USD
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2700000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2400000 shares
CY2013Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2600000 shares
CY2014Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2300000 shares
CY2014Q2 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
1300000000 USD
CY2013Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
1200000000 USD
CY2014Q2 efx Long Term Debt Carrying Amount
LongTermDebtCarryingAmount
1100000000 USD
CY2013Q4 efx Long Term Debt Carrying Amount
LongTermDebtCarryingAmount
1100000000 USD
CY2014Q2 us-gaap Interest Rate Derivative Assets At Fair Value
InterestRateDerivativeAssetsAtFairValue
2800000 USD
CY2013Q4 us-gaap Interest Rate Derivative Assets At Fair Value
InterestRateDerivativeAssetsAtFairValue
6000000 USD
efx Maturity Of Interest Rate Swaps
MaturityOfInterestRateSwaps
P5Y
CY2014Q2 us-gaap Variable Interest Entity Entity Maximum Loss Exposure Amount
VariableInterestEntityEntityMaximumLossExposureAmount
21800000 USD
CY2014Q2 us-gaap Cost Method Investments
CostMethodInvestments
40800000 USD
CY2013Q4 us-gaap Cost Method Investments
CostMethodInvestments
38200000 USD
CY2014Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssets
12600000 USD
CY2014Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
3600000 USD
CY2014Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangibles
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles
111900000 USD
CY2014Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities
36000000 USD
CY2014Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet
322800000 USD
us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
9300000 USD
CY2013Q2 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
0 USD
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
0 USD
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
100000 USD
CY2013Q2 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
0 USD
CY2014Q2 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
100000 USD
CY2014Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
141700000 USD
dei Document Type
DocumentType
10-Q
dei Amendment Flag
AmendmentFlag
false
dei Document Period End Date
DocumentPeriodEndDate
2014-06-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Registrant Name
EntityRegistrantName
EQUIFAX INC
dei Entity Central Index Key
EntityCentralIndexKey
0000033185
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Trading Symbol
TradingSymbol
EFX
CY2014Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
121777256 shares

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