Equifax 2015 Annual Report Download - page 22

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– 21 –
Personal Solutions
Twelve Months Ended December 31, Change
Personal Solutions
2015 vs. 2014 2014 vs. 2013
2015 2014 2013 $ % $ %
(Inmillions)
Total operating revenue $346.1 $294.2 $277.5 $51.9 18 %$16.7 6 %
% of consolidated revenue 13%12%12%
Total operating income $95.2 $93.4 $79.3 $1.8 2 %$14.1 18 %
Operating margin 27.5%31.8%28.6%(4.3)pts 3.2pts
Revenue increased 18% for 2015, as compared to prior year. Local currency revenue grew 19% in 2015, principally
due to the growth of direct to consumer reseller revenue, and to a lesser extent, due to consumer direct revenue growth in the
U.K. and the U.S. Local currency fluctuations against the U.S. dollar negatively impacted revenue by $5.2 million, or 1%, for
2015. Operating margin decreased in 2015 to 27.5% as compared 31.8% in prior year, due to higher technology and marketing
expenses.
Revenue increased 6% for 2014, as compared to prior year. Local currency revenue grew 6% principally due to the
growth in Canada and the U.K. consumer direct revenue, and to a lesser extent, in the U.S. consumer direct revenue. This
growth was partially offset by declines in consumer reseller revenue. Local currency fluctuations against the U.S. dollar
positively impacted revenue by $0.7 million, or less than 1%, for 2014. Operating margin increased in 2014 to 31.8% as
compared to 28.6% in prior year, as increased salaries, legal expenses and acquisition-related amortization due to the
acquisition of TrustedID in the third quarter of 2013 was more than offset by lower marketing expenses.
General Corporate Expense
Twelve Months Ended December 31, Change
2015 vs. 2014 2014 vs. 2013
General Corporate Expense 2015 2014 2013 $ % $ %
(Inmillions)
General corporate expense $ 224.8 $ 157.9 $ 157.3 $ 66.9 42% $ 0.6 —%
Our general corporate expenses are unallocated costs that are incurred at the corporate level and include those
expenses impacted by corporate direction, including shared services, administrative, legal, restructuring, and the portion of
management incentive compensation determined by total company-wide performance. General corporate expense increased
$66.9 million in 2015, of which $20.7 million relates to the realignment of internal resources in the first quarter of 2015, and
increases in people costs, and to a lesser extent to increases in professional fees, as well as litigation expenses.
General corporate expense in 2014 was comparable to 2013.
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