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14 Equifax 2012 Annual Report
RESULTS OF OPERATIONS —
TWELVE MONTHS ENDED DECEMBER 31, 2012, 2011 AND 2010
Consolidated Financial Results
Operating Revenue
Operating Revenue Twelve Months Ended December 31, Change
2012 vs. 2011 2011 vs. 2010
(Dollars in millions) 2012 2011 2010 $% $%
U.S. Consumer Information Solutions $ 916.8 $ 792.6 $ 743.0 $124.2 16% $ 49.6 7%
International 486.2 492.9 482.8 (6.7) -1% 10.1 2%
Workforce Solutions 463.1 404.3 395.6 58.8 15% 8.7 2%
North America Personal Solutions 204.5 180.7 157.6 23.8 13% 23.1 15%
North America Commercial Solutions 89.9 89.3 80.5 0.6 1% 8.8 11%
Consolidated operating revenue $2,160.5 $1,959.8 $1,859.5 $200.7 10% $100.3 5%
Revenue from continuing operations increased by 10% compared to
2011. The deconsolidation of our Brazilian business, which resulted
from the merger of our business into a larger entity during the second
quarter of 2011, negatively impacted revenue growth by $35.4 million
in 2012, compared to the prior year, while all other revenue increased
by 12% compared to 2011. The growth in 2012 was driven by strong
execution of key strategic initiatives and the impact of increased
mortgage refinancing activity in the U.S. The effect of foreign
exchange rates, in locations other than Brazil, reduced revenue by
$12.5 million in 2012 compared to the prior year.
Revenue from continuing operations increased by 5% in 2011
compared to 2010. The deconsolidation of our Brazilian business,
which resulted from the merger of our business into BVS during the
second quarter of 2011, negatively impacted revenue by $48.7 mil-
lion, compared to the prior year, while all other revenue increased by
8% compared to 2010, primarily driven by strong execution of key
strategic initiatives across each of our businesses. The favorable
effect of foreign exchange rates, in locations other than Brazil, did not
have a material impact on revenue.
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS continued