Experian 2012 Annual Report Download - page 160

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158 Experian Annual Report 2012 Financial statements
Notes to the parent company financial statements
continued
Q. Commitments
The Company has an annual operating lease commitment and related annual cost of US$0.6m (2011: US$0.5m) in respect of the corporate
headquarters in Dublin and this commitment expires in more than five years. There are no significant capital commitments relating to the
Company.
R. Contingencies
The Company has guaranteed borrowings of Group undertakings of US$1,531m (2011: US$1,351m) together with the liabilities of The Experian
plc Employee Share Trust and the Experian UK Approved All-Employee Share Plan.
The Company has guaranteed the retirement benefit obligations of Group undertakings that participate in the Experian Pension Scheme
together with the retirement benefit obligations of a Group undertaking that participates in the Pension and Life Assurance Plan of Sanderson
Systems Limited, a small defined benefit pension plan.
The Company has issued a small number of other guarantees in connection with the performance of operational business contracts by Group
undertakings.
S. Share options and awards
Details of options and awards in respect of the ordinary shares of the Company are given in note 33 to the Group financial statements together
with a summary of the total cost of share-based compensation in respect of such plans. Details of such options and awards and the cost of
share-based compensation in respect of the two employees of the Company are not separately disclosed within the Company’s financial
statements as the amounts involved are not material. Details of such options and awards in respect of directors of the Company are given in the
audited part of the report on directors’ remuneration.
T. Principal subsidiary undertakings at 31 March 2012
Principal activity
Country of
incorporation
Experian Finance plc Holding company and
administrative services
England and Wales
Experian Holdings Limited Holding company England and Wales
Experian Limited Information services England and Wales
Motorfile Limited Information services England and Wales
QAS Limited Marketing services England and Wales
Hitwise Pty Ltd Marketing services Australia
Serasa SA Information services Brazil
Computec S.A. Information services Colombia
Experian A/S Information services Denmark
Experian Holdings Ireland Limited Holding company Ireland
Experian Ireland Investments Limited Finance company Ireland
Experian South Africa (Pty) Limited Information services South Africa
ConsumerInfo.com Inc. Interactive business USA
Experian Holdings, Inc. Holding company USA
Experian Information Solutions Inc. Information services USA
Experian Marketing Solutions Inc. Marketing services USA
Experian Services Corporation Administrative services USA
LIM Holdings Inc. Interactive business USA
LMB Mortgage Services Inc. Interactive business USA
PriceGrabber.com, Inc. Interactive business USA
The results of the above undertakings are included in the Group financial statements. It is anticipated that the operations of three of the
above undertakings (LIM Holdings Inc., LMB Mortgage Services Inc. and PriceGrabber.com, Inc.) will be disposed of in connection with the
divestment of the Group’s comparison shopping and lead generation businesses.
The Company holds direct or indirect interests in the whole of the issued ordinary shares of these undertakings apart from Serasa SA, in which
its interest is 70%, and Experian South Africa (Pty) Limited, in which its interest is 75%. The only undertakings listed that are held directly by the
Company are Experian Holdings Ireland Limited and Experian Ireland Investments Limited.
The Company had no transactions in 2012 or 2011 with Group undertakings which are not wholly-owned and which require disclosure under FRS 8.