Equifax 2015 Annual Report Download - page 45

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
As used herein, the terms Equifax, the Company, we, our and us refer to Equifax Inc., a Georgia corporation, and its
consolidated subsidiaries as a combined entity, except where it is clear that the terms mean only Equifax Inc.
Nature of Operations. We collect, organize and manage various types of financial, demographic, employment and
marketing information. Our products and services enable businesses to make credit and service decisions, manage their
portfolio risk, automate or outsource certain payroll-related, tax and human resources business processes, and develop
marketing strategies concerning consumers and commercial enterprises. We serve customers across a wide range of industries,
including the financial services, mortgage, retail, telecommunications, utilities, automotive, brokerage, healthcare and
insurance industries, as well as government agencies. We also enable consumers to manage and protect their financial health
through a portfolio of products offered directly to consumers. As of December 31, 2015, we operated in the following
countries: Argentina, Canada, Chile, Costa Rica, Ecuador, El Salvador, Honduras, Mexico, Paraguay, Peru, Portugal, Spain, the
United Kingdom, or U.K., Uruguay, and the United States of America, or U.S. We also maintain support operations in the
Republic of Ireland. We have an investment in a consumer and commercial credit information company in Brazil and offer
consumer credit services in India and Russia through joint ventures.
We develop, maintain and enhance secured proprietary information databases through the compilation of actual
consumer data, including credit, employment, asset, liquidity, net worth and spending activity, and business data, including
credit and business demographics, that we obtain from a variety of sources, such as credit granting institutions, public record
information (including bankruptcies, liens and judgments), income and tax information primarily from large to mid-sized
companies in the U.S., and survey-based marketing information. We process this information utilizing our proprietary
information management systems.We also provide information, technology and services to support debt collections and
recovery management.
Basis of Consolidation. Our Consolidated Financial Statements and the accompanying notes, which are prepared in
accordance with U.S. generally accepted accounting principles, or GAAP, include Equifax and all its subsidiaries. We
consolidate all majority-owned and controlled subsidiaries as well as variable interest entities in which we are the primary
beneficiary. Other parties’ interests in consolidated entities are reported as noncontrolling interests. We use the equity method
of accounting for investments in which we are able to exercise significant influence and use the cost method for all other
investments. All significant intercompany transactions and balances are eliminated.
Our Consolidated Financial Statements reflect all adjustments which are, in the opinion of management, necessary for
a fair presentation of the periods presented therein.
Segments. We manage our business and report our financial results through the following four reportable segments,
which are our operating segments:
• U.S. Information Solutions, or USIS
• International
• Workforce Solutions
• Personal Solutions
USIS is our largest reportable segment, with 44% of total operating revenue for 2015. Our most significant foreign
operations are located in the U.K. and Canada.
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