Equifax 2007 Annual Report Download - page 32

Item 6.
SELECTED FINANCIAL DATA
The table below summarizes our selected historical fi nancial information for each of the last fi ve years. The summary of operations data
for the years ended December 31, 2007, 2006 and 2005 and the balance sheet data as of December 31, 2007 and 2006, has been derived
from our audited Consolidated Financial Statements included in this Form 10-K. The summary of operations data for the years ended
December 31, 2004 and 2003, and the balance sheet data as of December 31, 2005, 2004 and 2003 has been derived from our audited
Consolidated Financial Statements not included in this report. The historical selected fi nancial information may not be indicative of
our future performance and should be read in conjunction with the information contained in Management’s Discussion and Analysis
of Financial Condition and Results of Operations, and the Consolidated Financial Statements and the accompanying Notes to the
Consolidated Financial Statements in this Form 10-K.
Twelve Months Ended
December 31,
(In millions, except per share data)
2007 2006
(2) 2005 2004 2003
Summary of Operations:
Operating revenue $1,843.0 $1,546.3 $1,443.4 $1,272.8 $1,210.7
Operating expenses $1,356.8 $1,110.2 $1,021.4 $ 897.0 $ 896.5
Operating income $ 486.2 $ 436.1 $ 422.0 $ 375.8 $ 314.2
Income from continuing operations $ 272.7 $ 274.5 $ 246.5 $ 237.3 $ 180.7
Dividends paid $ 20.7 $ 20.3 $ 20.2 $ 15.0 $ 11.3
Per common share (diluted):
Income from continuing operations per share $ 2.02 $ 2.12 $ 1.86 $ 1.78 $ 1.32
Cash dividends declared per share $ 0.16 $ 0.16 $ 0.15 $ 0.11 $ 0.08
Weighted-average common shares oustanding (diluted) (1) 135.1 129.4 132.2 133.5 136.7
As of December 31,
(In millions) 2007 (3) 2006
(2) 2005 2004 2003
Balance Sheet Data: (1)
Total assets $3,523.9 $1,790.6 $1,831.5 $1,557.2 $1,553.5
Long-term debt, net of current portion $1,165.2 $ 173.9 $ 463.8 $ 398.5 $ 663.0
Shareholders’ equity $1,399.2 $ 838.1 $ 820.3 $ 523.6 $ 371.5
(1) On May 15, 2007, we acquired all the outstanding shares of TALX. Under the terms of the transaction, we issued 20.6 million shares of Equifax common stock and
1.9 million fully-vested options to purchase Equifax common stock, and paid approximately $288.1 million in cash, net of cash acquired. We also assumed TALX’s
outstanding debt, which had a fair value totaling $177.6 million at May 15, 2007. We financed the cash portion of the acquisition initially with borrowings under our
Senior Credit Facility, and subsequently refinanced this debt in the second quarter of 2007 with ten- and thirty-year notes. We subsequently repurchased 17.9 million
shares of Equifax common stock through December 31, 2007 for $718.7 million, as authorized by our Board of Directors. For additional information about the TALX
acquisition, see Note 2 of the Notes to Consolidated Financial Statements in this Form 10-K.
(2) On January 1, 2006, we adopted Statement of Financial Accounting Standards No. 123R, “Share-Based Payment,” or SFAS 123R, which resulted in additional stock-based
compensation expense during 2007 and 2006 when compared to prior years. Stock-based compensation expense was $17.6 million, $17.4 million and $8.2 million for
the twelve months ended December 31, 2007, 2006 and 2005, respectively.
(3) In 2007, total debt increased as a result of our issuance of $550.0 million of ten- and thirty-year fixed rate senior notes during the second quarter, our assumption of
$75.0 million in senior guaranteed notes of TALX due 2012, and the commencement of a commercial paper program for general corporate purposes.
30 EQUIFAX | 2007 ANNUAL REPORT