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For additional information about our restructuring charges, see Note 10 of the Notes to the Consolidated Financial Statements in this report.
Operating Income and Operating Margin
Operating Income and
Operating Margin Twelve Months Ended December 31, Change
2009 vs. 2008 2008 vs. 2007
(Dollars in millions) 2009 2008 2007 $ % $%
Consolidated operating revenue $ 1,824.5 $ 1,935.7 $ 1,843.0 $ (111.2) (6)% $ 92.7 5%
Consolidated operating expenses (1,416.9) (1,458.5) (1,356.8) 41.6 (3)% (101.7) 8%
Consolidated operating income $ 407.6 $ 477.2 $ 486.2 $ (69.6) (15)% $ (9.0) (2)%
Consolidated operating margin 22.3% 24.7% 26.4% (2.4) pts (1.7) pts
The decline in operating margin for 2009, as compared to 2008, The decline in the operating margin for 2008, as compared to 2007,
was primarily due to lower operating income in our USCIS, Interna- mainly reflects higher acquisition-related amortization expense,
tional and North America Personal Solutions segments and which increased $20.9 million primarily due to our acquisition of
$8.0 million of additional restructuring charges in 2009, partially off- TALX; the increase in general corporate expense, which includes the
set by growth in our TALX operating income. The operating income $16.8 million restructuring and asset write-down charges related to
declines for the aforementioned segments are attributed to reduc- our business realignment recorded in the third quarter of 2008; and
tions in revenue resulting from global economic weakness, partially the decrease in operating margin for our USCIS business, as
offset by lower operating expenses due to headcount reductions, described in more detail below.
reduced incentive costs and lower technology outsourcing costs.
EQUIFAX 2009 ANNUAL REPORT 15
11943 Equifax_Financials.indd 15 3/4/10 4:20 PM