Equifax 2013 Annual Report Download - page 35

65 EQUIFAX 2013 ANNUAL REPORT
The comparability of our quarterly financial results during 2013 and
2012 was impacted by certain events, as follows:
• During Q1 2013, we divested of two non-strategic business lines,
Equifax Settlement Services and Talent Management Services for
a total of $47.5 million. For additional information, see Note 3 of
the Notes to Consolidated Financial Statements.
• During 2013 and 2012, we made several acquisitions, including
the CSC Credit Services Acquisitions on December 28, 2012
which did not have a material impact on the results of the fourth
quarter of 2012. For additional information about our acquisitions,
see Note 4 of the Notes to Consolidated Financial Statements.
• During the fourth quarter of 2012, we offered certain former
U.S. employees a voluntary lump sum payment option of their
pension benefits or a reduced monthly annuity. Approximately
64% of the vested terminated participants elected to receive the
lump sum payment which resulted in a payment of $62.6 million.
An amendment to the USRIP was also approved which froze
future salary increases for non-grandfathered participants and
offered a one-time 9% increase to the service benefit. The settle-
ment and amendment resulted in a $38.7 million pension charge.
For additional information, see Note 11 of the Notes to
Consolidated Financial Statements.
16. SUBSEQUENT EVENT
On January 15, 2014, we acquired 100% of the stock of TDX Group, a debt placement service and debt management platform company in
the United Kingdom, for approximately $327 million. This acquisition will expand our capabilities within the collections market as well as other
markets. TDX will become part of our International segment.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued
66 EQUIFAX 2013 ANNUAL REPORT
2013
Column A Column B Column C Column D Column E
Additions
(In millions) Description
Balance at
Beginning
of Period
Charged to
Costs and
Expenses
Charged to
Other
Accounts Deductions
Balance at
End of
Period
Reserves deducted in the balance sheet from the assets to
which they apply:
Trade accounts receivable $ 6.3 $ 2.8 $ — $(2.3) $ 6.8
Deferred income tax asset valuation allowance 102.5 19.4 1.9 (4.0) 119.8
$108.8 $22.2 $1.9 $(6.3) $126.6
2012
Column A Column B Column C Column D Column E
Additions
(In millions) Description
Balance at
Beginning
of Period
Charged to
Costs and
Expenses
Charged to
Other
Accounts Deductions
Balance at
End of
Period
Reserves deducted in the balance sheet from the assets to
which they apply:
Trade accounts receivable $ 5.9 $ 2.1 $ — $(1.7) $ 6.3
Deferred income tax asset valuation allowance 92.8 10.9 (0.2) (1.0) 102.5
$98.7 $13.0 $(0.2) $(2.7) $108.8
2011
Column A Column B Column C Column D Column E
Additions
(In millions) Description
Balance at
Beginning
of Period
Charged to
Costs and
Expenses
Charged to
Other
Accounts Deductions
Balance at
End of
Period
Reserves deducted in the balance sheet from the assets to
which they apply:
Trade accounts receivable $ 7.5 $ 2.8 $ — $(4.4) $ 5.9
Deferred income tax asset valuation allowance 87.2 9.6 (1.2) (2.8) 92.8
$94.7 $12.4 $(1.2) $(7.2) $98.7
SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS