2024 Q1 Form 10-K Financial Statement

#000155203324000027 Filed on February 28, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023 Q3
Revenue $1.021B $954.3M $968.7M
YoY Change 8.6% 5.79% 3.25%
Cost Of Revenue $406.3M $380.6M $344.8M
YoY Change 25.05% 22.3% 12.83%
Gross Profit $614.9M $573.7M $623.9M
YoY Change -0.08% -2.91% -1.38%
Gross Profit Margin 60.21% 60.12% 64.41%
Selling, General & Admin $305.6M $301.6M $314.8M
YoY Change -10.25% -4.95% -5.64%
% of Gross Profit 49.7% 52.57% 50.46%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $134.0M $133.3M $131.3M
YoY Change 3.32% 2.54% 1.31%
% of Gross Profit 21.79% 23.24% 21.05%
Operating Expenses $439.5M $434.8M $1.286B
YoY Change -44.72% -2.82% 67.3%
Operating Profit $175.4M $61.30M -$317.3M
YoY Change 20.8% -57.28% -287.2%
Interest Expense -$58.60M -$60.70M $72.70M
YoY Change -181.62% -2.25% 18.6%
% of Operating Profit -33.41% -99.02%
Other Income/Expense, Net -$13.40M -$6.400M -$55.40M
YoY Change -80.75% -20.0% -5.62%
Pretax Income $83.00M -$5.800M -$372.7M
YoY Change 9.79% -108.16% -436.37%
Income Tax $13.00M -$15.40M $22.20M
% Of Pretax Income 15.66%
Net Earnings $65.10M $6.100M -$399.8M
YoY Change 23.76% -86.88% -604.8%
Net Earnings / Revenue 6.37% 0.64% -41.27%
Basic Earnings Per Share $0.34 $0.03 -$2.07
Diluted Earnings Per Share $0.33 $0.03 -$2.07
COMMON SHARES
Basic Shares Outstanding 194.0M shares 193.4M shares
Diluted Shares Outstanding 195.3M shares 193.4M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $436.2M $479.9M $424.0M
YoY Change -1.25% -18.37% -29.19%
Cash & Equivalents $433.6M $476.2M $420.9M
Short-Term Investments $2.600M $2.700M $3.000M
Other Short-Term Assets $212.1M $275.9M $286.5M
YoY Change -26.74% 5.02% 0.0%
Inventory
Prepaid Expenses $146.9M $145.4M $151.7M
Receivables $774.6M $723.0M $694.5M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.423B $1.475B $1.402B
YoY Change 3.03% 1.72% -8.9%
LONG-TERM ASSETS
Property, Plant & Equipment $293.8M $199.3M $182.9M
YoY Change 40.24% -8.66% -13.73%
Goodwill $5.170B $5.176B $5.086B
YoY Change -7.17% -6.76% -7.76%
Intangibles $3.450B $3.515B $3.546B
YoY Change -5.13% -4.36% -4.2%
Long-Term Investments $302.8M $53.90M $49.40M
YoY Change 438.79% 8.23% 8.57%
Other Assets $301.5M $739.4M $809.7M
YoY Change -60.64% -4.1% 13.51%
Total Long-Term Assets $9.602B $9.630B $9.625B
YoY Change -5.7% -5.74% -6.24%
TOTAL ASSETS
Total Short-Term Assets $1.423B $1.475B $1.402B
Total Long-Term Assets $9.602B $9.630B $9.625B
Total Assets $11.02B $11.11B $11.03B
YoY Change -4.66% -4.81% -6.59%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $281.3M $253.5M $271.0M
YoY Change -5.73% 1.24% 5.32%
Accrued Expenses $277.8M $71.50M $62.30M
YoY Change 368.47% 33.64% 1.47%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $77.50M $89.60M $115.0M
YoY Change -32.37% -21.82% 0.35%
Total Short-Term Liabilities $861.0M $1.003B $911.1M
YoY Change -1.98% 10.73% 2.38%
LONG-TERM LIABILITIES
Long-Term Debt $5.253B $5.251B $5.254B
YoY Change -3.7% -5.48% -9.08%
Other Long-Term Liabilities $166.7M $153.2M $154.6M
YoY Change -2.74% -11.9% -13.92%
Total Long-Term Liabilities $5.420B $153.2M $5.409B
YoY Change -3.67% -97.33% -9.23%
TOTAL LIABILITIES
Total Short-Term Liabilities $861.0M $1.003B $911.1M
Total Long-Term Liabilities $5.420B $153.2M $5.409B
Total Liabilities $6.949B $7.000B $6.986B
YoY Change -3.9% -5.37% -8.69%
SHAREHOLDERS EQUITY
Retained Earnings $2.199B $2.157B $2.091B
YoY Change -11.27% -11.83% -13.61%
Common Stock $2.453B $2.415B $2.389B
YoY Change 5.52% 5.35% 5.13%
Preferred Stock
YoY Change
Treasury Stock (at cost) $313.5M $302.9M $302.2M
YoY Change 7.33% 6.47% 7.16%
Treasury Stock Shares
Shareholders Equity $4.075B $4.008B $3.939B
YoY Change
Total Liabilities & Shareholders Equity $11.02B $11.11B $11.03B
YoY Change -4.66% -4.81% -6.59%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $65.10M $6.100M -$399.8M
YoY Change 23.76% -86.88% -604.8%
Depreciation, Depletion And Amortization $134.0M $133.3M $131.3M
YoY Change 3.32% 2.54% 1.31%
Cash From Operating Activities $54.00M $205.5M $150.9M
YoY Change -30.23% -7.35% -20.83%
INVESTING ACTIVITIES
Capital Expenditures $62.40M $98.00M $69.60M
YoY Change -6.17% -7.28% -197.75%
Acquisitions
YoY Change
Other Investing Activities $0.00 $9.600M $25.20M
YoY Change -100.0% -91.89% 154.55%
Cash From Investing Activities -$62.40M -$88.40M -$44.40M
YoY Change -39.77% -796.06% -27.57%
FINANCING ACTIVITIES
Cash Dividend Paid $20.80M $20.50M
YoY Change 0.0%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -31.30M -63.50M -121.1M
YoY Change -74.34% -75.25% 187.65%
NET CHANGE
Cash From Operating Activities 54.00M 205.5M 150.9M
Cash From Investing Activities -62.40M -88.40M -44.40M
Cash From Financing Activities -31.30M -63.50M -121.1M
Net Change In Cash -39.70M 53.60M -14.60M
YoY Change -72.86% -342.53% -116.74%
FREE CASH FLOW
Cash From Operating Activities $54.00M $205.5M $150.9M
Capital Expenditures $62.40M $98.00M $69.60M
Free Cash Flow -$8.400M $107.5M $81.30M
YoY Change -177.06% -7.41% -68.95%

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<div style="margin-top:6pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Description of Business</span></div><div style="margin-top:6pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">TransUnion is a leading global information and insights company that makes trust possible between businesses and consumers, helping people around the world access opportunities that can lead to a higher quality of life. That trust is built on TransUnion’s ability to deliver safe, innovative solutions with credibility and consistency. We call this Information for Good.</span></div><div style="margin-top:6pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Grounded in our heritage as a credit reporting agency, we have built robust and accurate databases of information for a large portion of the adult population in the markets we serve. We use our identity resolution methodology to link and match our expanding high-quality datasets. We use this enriched data and analytics, combined with our expertise, to continuously develop more insightful solutions for our customers, all while maintaining compliance with global laws and regulations. Because of our work, organizations can better understand consumers in order to make more informed decisions, and earn consumer trust through great, personalized experiences, and the proactive extension of the right opportunities, tools and offers. In turn, we believe consumers can be confident that their data identities will result in better offers and opportunities.</span></div><div style="margin-top:6pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We provide solutions that enable businesses to manage and measure credit risk, market to new and existing customers, verify consumer identities, mitigate fraud, and effectively manage call center operations. Businesses embed our solutions into their process workflows to deliver critical insights and enable effective actions. Consumers use our solutions to view their credit profiles, access analytical tools that help them understand and manage their personal financial information, and take precautions against identity theft. </span></div>Our addressable market includes the global data and analytics market, which continues to grow as companies around the world increasingly recognize the benefits of data and analytics-based decision making, and as consumers recognize the important role that their data identities play in their ability to procure goods and services. We leverage our differentiated capabilities in order to serve a global customer base across multiple geographies and industry verticals.
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CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
505600000 usd
CY2022 us-gaap Income Tax Expense Benefit
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CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
264100000 usd
CY2021 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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373700000 usd
CY2022 us-gaap Profit Loss
ProfitLoss
281500000 usd
CY2021 us-gaap Profit Loss
ProfitLoss
1405400000 usd
CY2022 us-gaap Net Income Loss
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266300000 usd
CY2021 us-gaap Net Income Loss
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CY2022 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
248900000 usd
CY2021 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
358700000 usd
CY2022 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
1.29
CY2021 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
1.87
CY2022 us-gaap Earnings Per Share Basic
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1.38
CY2021 us-gaap Earnings Per Share Basic
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7.26
CY2022 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
1.29
CY2021 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
1.86
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.38
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
7.20
CY2022 us-gaap Profit Loss
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281500000 usd
CY2021 us-gaap Profit Loss
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1405400000 usd
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CY2021 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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267200000 usd
CY2021 us-gaap Comprehensive Income Net Of Tax
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CY2022 us-gaap Profit Loss
ProfitLoss
281500000 usd
CY2021 us-gaap Profit Loss
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CY2022 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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CY2021 us-gaap Increase Decrease In Other Operating Liabilities
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CY2023 us-gaap Use Of Estimates
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<div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements and related disclosures in accordance with GAAP requires management to make estimates and judgments that affect the amounts reported. We believe that the estimates used in preparation of the a</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ccompanying consolidated financial statements are reasonable, based upon information available to management at this time. These estimates and judgments affect the reported amounts of assets, liabilities and disclosure of contingent assets and liabilities at the balance sheet date, as well as the amounts of revenue and expense during the reporting period. Estimates are inherently uncertain and actual results could differ materially from the estimated amounts.</span></div>
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CY2021 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
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CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
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CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
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CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
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CY2023Q4 us-gaap Capitalized Contract Cost Amortization Period
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P5Y
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39900000 usd
CY2022Q4 us-gaap Capitalized Contract Cost Net
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20200000 usd
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0 usd
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0 usd
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CY2023 us-gaap Impairment Of Investments
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32900000 usd
CY2021 us-gaap Defined Contribution Plan Cost Recognized
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197300000 usd
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555700000 usd
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240900000 usd
CY2022Q4 us-gaap Property Plant And Equipment Other
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227600000 usd
CY2023Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
143800000 usd
CY2022Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
143100000 usd
CY2023Q4 us-gaap Land
Land
3200000 usd
CY2022Q4 us-gaap Land
Land
3200000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1003700000 usd
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145400000 usd
CY2022Q4 us-gaap Prepaid Expense Current
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CY2022Q4 us-gaap Marketable Securities Current
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CY2022Q4 us-gaap Other Assets Miscellaneous Current
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CY2022Q4 us-gaap Other Assets Current
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262700000 usd
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CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
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804400000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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711300000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
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199300000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
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218200000 usd
CY2023 us-gaap Depreciation
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96600000 usd
CY2022 us-gaap Depreciation
Depreciation
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CY2023Q4 us-gaap Goodwill
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CY2023Q4 us-gaap Goodwill Gross
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5590000000 usd
CY2023Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
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414000000.0 usd
CY2023Q4 us-gaap Goodwill
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5551400000 usd
CY2022Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
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CY2022Q4 us-gaap Goodwill
Goodwill
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6235100000 usd
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FiniteLivedIntangibleAssetsAccumulatedAmortization
2719800000 usd
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3515300000 usd
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5944100000 usd
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2268600000 usd
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3675500000 usd
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5944100000 usd
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3675500000 usd
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6235100000 usd
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2719800000 usd
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FiniteLivedIntangibleAssetsNet
3515300000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Remaining Amortization Period1
FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1
P14Y
CY2023 us-gaap Amortization Of Intangible Assets
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427800000 usd
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
413100000 usd
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278200000 usd
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443100000 usd
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332200000 usd
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272000000.0 usd
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FiniteLivedIntangibleAssetsAmortizationExpenseRollingAfterYearFive
1652000000 usd
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3515300000 usd
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291400000 usd
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265900000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
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CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
127400000 usd
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InterestRateDerivativeAssetsAtFairValue
162300000 usd
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InterestRateDerivativeAssetsAtFairValue
237700000 usd
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82000000.0 usd
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70300000 usd
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11100000 usd
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8200000 usd
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93700000 usd
CY2022Q4 us-gaap Other Assets Miscellaneous Noncurrent
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61500000 usd
CY2023Q4 us-gaap Other Assets Noncurrent
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739400000 usd
CY2022Q4 us-gaap Other Assets Noncurrent
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771000000.0 usd
CY2023Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
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233800000 usd
CY2022Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
213100000 usd
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EquityMethodInvestments
53900000 usd
CY2022Q4 us-gaap Equity Method Investments
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49800000 usd
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3700000 usd
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3000000.0 usd
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291400000 usd
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265900000 usd
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4800000 usd
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12500000 usd
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IncomeLossFromEquityMethodInvestments
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IncomeLossFromEquityMethodInvestments
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CY2023Q4 us-gaap Restructuring Reserve
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173900000 usd
CY2023Q4 us-gaap Debt And Capital Lease Obligations
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114600000 usd
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5250800000 usd
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5555500000 usd
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89600000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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89500000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
2230000000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
96000000.0 usd
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LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
2869000000 usd
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LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
0 usd
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33700000 usd
CY2023Q4 us-gaap Long Term Debt
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5340400000 usd
CY2023Q4 tru Incremental Borrowings Amount
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CY2023Q4 tru Incremental Borrowings Criteria Percentageof Consolidated Ebitda
IncrementalBorrowingsCriteriaPercentageofConsolidatedEBITDA
1
CY2023Q4 tru Incremental Borrowings Criteria Senior Secured Leverageratio
IncrementalBorrowingsCriteriaSeniorSecuredLeverageratio
4.25
CY2023Q4 tru Net Leverage Ratio Requirement
NetLeverageRatioRequirement
5.5
CY2023Q4 tru Covenant Dividend Restriction Amount
CovenantDividendRestrictionAmount
100000000 usd
CY2023Q4 tru Covenant Dividend Restriction Percentageof Consolidated Ebitda
CovenantDividendRestrictionPercentageofConsolidatedEBITDA
0.100
CY2023Q4 tru Net Leverage Ratio Requirement Dividends
NetLeverageRatioRequirementDividends
4.75
CY2023 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax
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CY2023 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
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CY2022 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax
260100000 usd
CY2022 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
195200000 usd
CY2021 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax
67300000 usd
CY2021 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
50500000 usd
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y1M6D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P6Y4M24D
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.045
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.042
CY2023 us-gaap Operating Lease Cost
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39700000 usd
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
44500000 usd
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
30400000 usd
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
39400000 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
36500000 usd
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
30900000 usd
CY2023 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
3400000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
30400000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
21100000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
17000000.0 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
13900000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
9000000.0 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
31200000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
122600000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
14300000 usd
CY2023Q4 us-gaap Operating Lease Liability
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108300000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
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100000 usd
CY2023Q4 us-gaap Finance Lease Liability
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100000 usd
CY2023Q2 us-gaap Common Stock Dividends Per Share Declared
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0.105
CY2022Q3 us-gaap Common Stock Dividends Per Share Declared
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0.105
CY2023Q3 us-gaap Common Stock Dividends Per Share Declared
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0.105
CY2022Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.105
CY2023Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.105
CY2023Q1 us-gaap Common Stock Dividends Per Share Declared
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0.105
CY2021Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.095
CY2022Q2 us-gaap Common Stock Dividends Per Share Declared
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0.095
CY2022Q1 us-gaap Common Stock Dividends Per Share Declared
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0.095
CY2021Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.095
CY2021Q3 us-gaap Common Stock Dividends Per Share Declared
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0.095
CY2021Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.075
CY2017Q1 us-gaap Stock Repurchase Program Authorized Amount1
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300000000 usd
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P3Y
us-gaap Stock Repurchase Program Period In Force1
StockRepurchaseProgramPeriodInForce1
P3Y
CY2023Q4 tru Stock Repurchase Program Repurchase Amount
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133500000 usd
CY2023Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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166500000 usd
CY2023 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
18400000 usd
CY2022 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
32500000 usd
CY2021 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
36800000 usd
CY2023Q4 us-gaap Preferred Stock Shares Authorized
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100000000.0 shares
CY2022Q4 us-gaap Preferred Stock Shares Authorized
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100000000.0 shares
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
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0 shares
CY2023Q4 us-gaap Preferred Stock Shares Issued
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0 shares
CY2022Q4 us-gaap Preferred Stock Shares Issued
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0 shares
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
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0 shares
CY2023 tru Numberof Typesof Performance Obligations
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2 performance_obligation
CY2023Q4 us-gaap Contract With Customer Refund Liability
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CY2023 tru Contract With Customer Liability Noncurrent Recognition Period
ContractWithCustomerLiabilityNoncurrentRecognitionPeriod
P2Y
CY2023Q4 us-gaap Revenue Remaining Performance Obligation
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690000000 usd
CY2023Q4 us-gaap Revenue Remaining Performance Obligation Percentage
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0.55
CY2023Q4 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.30
CY2023Q4 us-gaap Revenue Remaining Performance Obligation Percentage
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0.15
CY2023 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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CY2022 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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264100000 usd
CY2021 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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373700000 usd
CY2023 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
15400000 usd
CY2022 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
15200000 usd
CY2021 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
15000000.0 usd
CY2023 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
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CY2022 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
248900000 usd
CY2021 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
358700000 usd
CY2023 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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CY2022 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
17400000 usd
CY2021 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
1031700000 usd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
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CY2022 us-gaap Net Income Loss
NetIncomeLoss
266300000 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
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CY2023 us-gaap Income Loss From Continuing Operations Per Basic Share
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CY2022 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
1.29
CY2021 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
1.87
CY2023 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
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0
CY2022 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
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0.09
CY2021 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
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5.39
CY2023 us-gaap Earnings Per Share Basic
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CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.38
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
7.26
CY2023 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
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CY2022 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
1.29
CY2021 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
1.86
CY2023 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share
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0
CY2022 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share
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0.09
CY2021 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share
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5.35
CY2023 us-gaap Earnings Per Share Diluted
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CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.38
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
7.20
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
193400000 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
192500000 shares
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
191400000 shares
CY2023 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2022 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
700000 shares
CY2021 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1600000 shares
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
193400000 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
193100000 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
193000000.0 shares
CY2023 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
100000000.0 usd
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
101800000 usd
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
62900000 usd
CY2023 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
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CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
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CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-9300000 usd
CY2023 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
11100000 usd
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
28700000 usd
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
18900000 usd
CY2023 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-28300000 usd
CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-14600000 usd
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
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CY2023 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
96300000 usd
CY2022 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
77300000 usd
CY2021 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
67300000 usd
CY2023 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
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CY2022 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
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CY2021 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
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CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
44700000 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
118900000 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
131900000 usd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
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CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
151500000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
322500000 usd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
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CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
231500000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
183100000 usd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
383000000.0 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
505600000 usd
CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-30500000 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
80400000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
106200000 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2023 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-21900000 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.151
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
8000000.0 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.021
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
15600000 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.031
CY2023 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-22500000 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.155
CY2022 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-4600000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.012
CY2021 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-6800000 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
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CY2023 tru Effective Income Tax Rate Reconciliation Deductible Expense Sharebased Compensation Cost Amount
EffectiveIncomeTaxRateReconciliationDeductibleExpenseSharebasedCompensationCostAmount
3000000.0 usd
CY2023 tru Effective Income Tax Rate Reconciliation Deductible Expense Sharebased Compensation Cost Percent
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-0.020
CY2022 tru Effective Income Tax Rate Reconciliation Deductible Expense Sharebased Compensation Cost Amount
EffectiveIncomeTaxRateReconciliationDeductibleExpenseSharebasedCompensationCostAmount
-5000000.0 usd
CY2022 tru Effective Income Tax Rate Reconciliation Deductible Expense Sharebased Compensation Cost Percent
EffectiveIncomeTaxRateReconciliationDeductibleExpenseSharebasedCompensationCostPercent
-0.013
CY2021 tru Effective Income Tax Rate Reconciliation Deductible Expense Sharebased Compensation Cost Amount
EffectiveIncomeTaxRateReconciliationDeductibleExpenseSharebasedCompensationCostAmount
-10800000 usd
CY2021 tru Effective Income Tax Rate Reconciliation Deductible Expense Sharebased Compensation Cost Percent
EffectiveIncomeTaxRateReconciliationDeductibleExpenseSharebasedCompensationCostPercent
-0.022
CY2023 tru Effective Income Tax Rate Reconciliation Foreign Tax Law Changes Amount
EffectiveIncomeTaxRateReconciliationForeignTaxLawChangesAmount
0 usd
CY2023 tru Effective Income Tax Rate Reconciliation Foreign Tax Law Changes Percent
EffectiveIncomeTaxRateReconciliationForeignTaxLawChangesPercent
0
CY2022 tru Effective Income Tax Rate Reconciliation Foreign Tax Law Changes Amount
EffectiveIncomeTaxRateReconciliationForeignTaxLawChangesAmount
-100000 usd
CY2022 tru Effective Income Tax Rate Reconciliation Foreign Tax Law Changes Percent
EffectiveIncomeTaxRateReconciliationForeignTaxLawChangesPercent
0
CY2021 tru Effective Income Tax Rate Reconciliation Foreign Tax Law Changes Amount
EffectiveIncomeTaxRateReconciliationForeignTaxLawChangesAmount
22700000 usd
CY2021 tru Effective Income Tax Rate Reconciliation Foreign Tax Law Changes Percent
EffectiveIncomeTaxRateReconciliationForeignTaxLawChangesPercent
0.045
CY2023 tru Effective Income Tax Rate Reconciliation Uncertain Tax Positions Amount
EffectiveIncomeTaxRateReconciliationUncertainTaxPositionsAmount
7500000 usd
CY2023 tru Effective Income Tax Rate Reconciliation Uncertain Tax Positions Percent
EffectiveIncomeTaxRateReconciliationUncertainTaxPositionsPercent
-0.052
CY2022 tru Effective Income Tax Rate Reconciliation Uncertain Tax Positions Amount
EffectiveIncomeTaxRateReconciliationUncertainTaxPositionsAmount
5700000 usd
CY2022 tru Effective Income Tax Rate Reconciliation Uncertain Tax Positions Percent
EffectiveIncomeTaxRateReconciliationUncertainTaxPositionsPercent
0.015
CY2021 tru Effective Income Tax Rate Reconciliation Uncertain Tax Positions Amount
EffectiveIncomeTaxRateReconciliationUncertainTaxPositionsAmount
4600000 usd
CY2021 tru Effective Income Tax Rate Reconciliation Uncertain Tax Positions Percent
EffectiveIncomeTaxRateReconciliationUncertainTaxPositionsPercent
0.009
CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
3100000 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-0.021
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
18300000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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0.047
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-5000000.0 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.010
CY2023 tru Effective Income Tax Rate Reconciliation Foreign Withholding Taxes Amount
EffectiveIncomeTaxRateReconciliationForeignWithholdingTaxesAmount
13000000.0 usd
CY2023 tru Effective Income Tax Rate Reconciliation Foreign Withholding Taxes Percent
EffectiveIncomeTaxRateReconciliationForeignWithholdingTaxesPercent
-0.089
CY2022 tru Effective Income Tax Rate Reconciliation Foreign Withholding Taxes Amount
EffectiveIncomeTaxRateReconciliationForeignWithholdingTaxesAmount
9600000 usd
CY2022 tru Effective Income Tax Rate Reconciliation Foreign Withholding Taxes Percent
EffectiveIncomeTaxRateReconciliationForeignWithholdingTaxesPercent
0.025
CY2021 tru Effective Income Tax Rate Reconciliation Foreign Withholding Taxes Amount
EffectiveIncomeTaxRateReconciliationForeignWithholdingTaxesAmount
6500000 usd
CY2021 tru Effective Income Tax Rate Reconciliation Foreign Withholding Taxes Percent
EffectiveIncomeTaxRateReconciliationForeignWithholdingTaxesPercent
0.013
CY2023 tru Income Tax Reconciliation Dividendsand Tax Credits Foreign Amount
IncomeTaxReconciliationDividendsandTaxCreditsForeignAmount
-200000 usd
CY2023 tru Effective Income Tax Rate Reconciliation Dividendand Tax Credits Foreign Percent
EffectiveIncomeTaxRateReconciliationDividendandTaxCreditsForeignPercent
0.001
CY2022 tru Income Tax Reconciliation Dividendsand Tax Credits Foreign Amount
IncomeTaxReconciliationDividendsandTaxCreditsForeignAmount
1400000 usd
CY2022 tru Effective Income Tax Rate Reconciliation Dividendand Tax Credits Foreign Percent
EffectiveIncomeTaxRateReconciliationDividendandTaxCreditsForeignPercent
0.004
CY2021 tru Income Tax Reconciliation Dividendsand Tax Credits Foreign Amount
IncomeTaxReconciliationDividendsandTaxCreditsForeignAmount
15100000 usd
CY2021 tru Effective Income Tax Rate Reconciliation Dividendand Tax Credits Foreign Percent
EffectiveIncomeTaxRateReconciliationDividendandTaxCreditsForeignPercent
0.030
CY2023 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
8600000 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
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CY2022 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
9700000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.025
CY2021 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
6400000 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
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LossContingencyDisclosures
Contingencies<div style="margin-top:6pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Legal and Regulatory Matters</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We are routinely named as defendants in, or parties to, various legal actions and proceedings relating to our current or past business operations. These actions generally assert claims for violations of federal or state credit reporting, consumer protection or privacy laws, or common law claims related to the unfair treatment of consumers, and may include claims for substantial or indeterminate compensatory or punitive damages, or injunctive relief, and may seek business practice changes. We believe that most of these claims are either without merit or we have valid defenses to the claims, and we vigorously defend these matters or seek non-monetary or small monetary settlements, if possible. However, due to the uncertainties inherent in litigation, we cannot predict the outcome of each claim in each instance.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the ordinary course of business, we also are subject to governmental and regulatory examinations, information-gathering requests, investigations and proceedings (both formal and informal), certain of which may result in adverse judgments, settlements, fines, penalties, injunctions or other relief. In connection with formal and informal investigations and inquiries by regulators, we sometimes receive civil investigative demands, requests, subpoenas and orders seeking documents, testimony, and other information in connection with various aspects of our activities.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In view of the inherent unpredictability of legal and regulatory matters, particularly where the damages sought are substantial or indeterminate or when the proceedings or investigations are in the early stages, we cannot determine with any degree of certainty the timing or ultimate resolution of legal and regulatory matters or the eventual loss, fines or penalties, if any, that may result from such matters. We establish reserves for legal and regulatory matters when those matters present loss contingencies that are both probable and can be reasonably estimated. However, for certain of the matters, we are not able to reasonably estimate our exposure because damages or penalties have not been specified and (i) the proceedings are in early stages, (ii) there </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">is uncertainty as to the likelihood of a class being certified or the ultimate size of the class, (iii) there is uncertainty as to the outcome of similar matters pending against our competitors, (iv) there are significant factual issues to be resolved, and/or (v) there are legal issues of a first impression being presented. The actual costs of resolving legal and regulatory matters, however, may be substantially higher than the amounts reserved for those matters, and an adverse outcome in certain of these matters could have a material adverse effect on our consolidated financial statements in particular quarterly or annual periods. We accrue amounts for certain legal and regulatory matters for which losses were considered to be probable of occurring based on our best estimate of the most likely outcome. It is reasonably possible actual losses could be significantly different from our current estimates. In addition, there are some matters for which it is reasonably possible that a loss will occur, however we cannot estimate a range of the potential losses for these matters.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To reduce our exposure to an unexpected significant monetary award resulting from an adverse judicial decision, we maintain insurance that we believe is appropriate and adequate based on our historical experience. We regularly advise our insurance carriers of the claims, threatened or pending, against us in legal and regulatory matters and generally receive a reservation of rights letter from the carriers when such claims exceed applicable deductibles. We are not aware of any significant monetary claim that has been asserted against us, except for the lawsuit filed by the Consumer Financial Protection Bureau (the “CFPB”) referenced below, that would not have some level of coverage by insurance after the relevant deductible, if any, is met.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of December 31, 2023 and 2022, we have accrued $147.8 million and $125.0 million, respectively, for legal and regulatory matters. These amounts were recorded in other accrued liabilities in the Consolidated Balance Sheets and the associated expenses were recorded in selling, general and administrative expenses in the Consolidated Statements of Operations. Legal fees incurred in connection with ongoing litigation are considered period costs and are expensed as incurred.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">CFPB Matters</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In June 2021, we received a Notice and Opportunity to Respond and Advise (“NORA”) letter from the CFPB, informing us that the CFPB’s Enforcement Division was considering whether to recommend that the CFPB take legal action against us and certain of our executive officers. The NORA letter alleged that we failed to comply with and timely implement the January 2017 Consent Order (the “2017 Consent Order”), and further alleged additional violations related to Consumer Interactive’s marketing practices. On September 27, 2021, the Enforcement Division advised us that it had obtained authority to pursue an enforcement action. On April 12, 2022, after failed settlement negotiations with the CFPB related to the matter, the CFPB filed a lawsuit against us, Trans Union LLC, TransUnion Interactive, Inc. (collectively, the “TU Entities”) and the former President of Consumer Interactive, John Danaher, in the United States District Court for the Northern District of Illinois seeking restitution, civil money penalties, and injunctive relief, among other remedies, and alleging that the TU Entities violated the 2017 Consent Order, engaged in deceptive acts and practices in marketing the TransUnion Credit Monitoring product, failed to obtain signed written authorizations from consumers before debiting their bank accounts for the TransUnion Credit Monitoring product and diverted consumers from their free annual file disclosure into paid subscription products. The CFPB further alleges that Mr. Danaher violated the 2017 Consent Order and that we and Trans Union LLC provided substantial assistance to TransUnion Interactive, Inc. in violating the 2017 Consent Order and the law. We continue to believe that our marketing practices are lawful and appropriate and that we have been, and remain, in compliance with the 2017 Consent Order, and we will vigorously defend against allegations to the contrary in such proceedings. We continue to be in active litigation on this matter.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of December 31, 2023 and 2022, we have accrued $56.0 million, in connection with this matter and there is a reasonable possibility that a loss in excess of the amount accrued may be incurred, and such an outcome could have a material adverse effect on our results of operations and financial condition. However, any possible loss or range of loss in excess of the amount accrued is not reasonably estimable at this time. In addition, we will incur increased costs litigating this matter.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In March 2022, we received a NORA letter from the CFPB, informing us that the CFPB’s Enforcement Division was considering whether to recommend that the CFPB take legal action against us related to our tenant and employment screening business, TransUnion Rental Screening Solutions, Inc. (“TURSS”). The NORA letter alleged that Trans Union LLC and TURSS violated the Fair Credit Reporting Act by failing to (i) follow reasonable procedures to assure maximum possible accuracy of information in consumer reports and (ii) disclose to consumers the sources of such information. On July 27, 2022, the CFPB’s Enforcement Division advised us that it had obtained authority to pursue an enforcement action jointly with the Federal Trade Commission (“FTC”). On October 5, 2023, we reached a settlement in the form of a Consent Order with the CFPB and the FTC regarding this matter, pursuant to which we agreed to pay $11.0 million in redress and $4.0 million in civil money penalties and to implement certain business process changes. As of December 31, 2023, the settlement was paid in full to the CFPB.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In June 2022, the CFPB informed Trans Union LLC that it intended to issue a NORA letter following an investigation relating to alleged violations of law in connection with the placement and lifting of security freezes resulting from certain system issues. We have corrected associated system issues and have processes in place to monitor and address issues going forward. In August 2022, the TU Entities received a NORA letter from the CFPB, informing us that the CFPB’s Enforcement Division was </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">considering whether to recommend that the CFPB take legal action against us. On April 14, 2023, the CFPB’s Enforcement Division advised us that it had obtained authority to pursue an enforcement action. On October 10, 2023, we reached a settlement in the form of a Consent Order with the CFPB regarding this matter, pursuant to which we agreed to pay $3.0 million in redress and $5.0 million in civil money penalties. As of December 31, 2023, the settlement was paid in full to the CFPB.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:107%">Argus Department of Justice Matter</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We are cooperating with an investigation originating from the civil division of the United States Attorney’s Office for the Eastern District of Virginia related to Argus’s use of certain data it collected under certain government contracts. We acquired Argus in connection with our acquisition of VF in April 2022. This matter pertains to alleged conduct that commenced before we acquired Argus. We are cooperating with Verisk Analytics, Inc. (the “Seller”) to respond to the Department of Justice’s (“DOJ”) investigation and, along with the Seller, are engaged in ongoing settlement discussions with the DOJ regarding a potential resolution of the matter, with no assurance that the discussions will lead to resolution.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We cannot predict the timing, outcome, or potential impact of this matter, financial or otherwise. Under the stock purchase agreement Trans Union LLC entered into with the Seller pursuant to which we acquired VF, including Argus, the Seller agreed to indemnify us for certain losses with respect to this matter, including all losses directly resulting from any settlement agreement with the DOJ in connection with this matter, including civil money penalties, remediation costs and fees and expenses. As of December 31, 2023, we have recorded an accrued liability of $37.0 million and a related indemnification receivable for this matter.</span></div>
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Files In Submission

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