Equifax 2003 Annual Report Download - page 37

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CONSOLIDATED STATEM ENTS OF INCOM E
(In millions, except per share amounts)
Year Ended December 31 2003 2002 2001
Operating revenue $1,225.4 $1,109.3 $1,139.0
Costs and expenses:
Costs of services 512.9 427.6 451.0
Selling, general and administrative expenses 274.6 249.9 267.6
Depreciation 16.0 12.9 17.1
Amortization 79.3 67.6 63.7
Goodwill amortization (Note 1) ––25.4
Restructuring and impairment charges (Note 6) 30.6 –60.4
Total costs and expenses 913.4 758.0 885.2
Operating income 312.0 351.3 253.8
Other income (expense), net 14.0 6.8 (1.2)
Minority interest in earnings, net of tax (3.3) (2.0) (2.2)
Interest expense (39.6) (41.2) (47.8)
Income from continuing operations before income taxes 283.1 314.9 202.6
Provision for income taxes (104.6) (123.6) (85.3)
Income from continuing operations 178.5 191.3 117.3
Discontinued operations (Note 3)
(Loss) income from discontinued operations, net of income tax (benefit) expense
of 0.0, ($2.2), and $21.4, respectively (13.6) (13.3) 33.6
Costs associated with effecting the spin-off, net of income tax benefit of $8.1 – – (28.4)
Total discontinued operations (13.6) (13.3) 5.2
Net income $164.9 $178.0 $ 122.5
Per common share (basic):
Income from continuing operations $1.33 $1.41 $ 0.86
Discontinued operations (0.10) (0.10) 0.04
Net income $1.23 $1.31 $ 0.90
Shares used in computing basic earnings per share 134.5 136.2 136.8
Per common share (diluted):
Income from continuing operations $1.31 $1.38 $ 0.84
Discontinued operations (0.10) (0.10) 0.04
Net income $1.21 $1.29* $ 0.88
Shares used in computing diluted earnings per share 136.7 138.5 139.0
Dividends per common share $0.080 $0.080 $ 0.225
* Does not total due to rounding.
See “ Notes to Consolidated Financial Statements.”
34 EQUIFAX. INFORMATION THAT EMPOWERS.