Equifax 2015 Annual Report Download - page 64

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Cash paid for income taxes, net of amounts refunded, was $202.9 million, $148.2 million and $174.8 million during
the twelve months ended December 31, 2015, 2014 and 2013, respectively.
We recognize interest and penalties accrued related to unrecognized tax benefits in the provision for income taxes on
our Consolidated Statements of Income.
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
2015 2014
(Inmillions)
Beginning balance (January 1) $19.8 $19.1
Increases related to prior year tax positions 5.5 3.0
Decreases related to prior year tax positions (2.2)(0.4)
Increases related to current year tax positions 4.0 4.4
Decreases related to settlements (0.5)(0.6)
Expiration of the statute of limitations for the assessment of taxes (4.5)(5.3)
Currency translation adjustment (0.5)(0.4)
Ending balance (December 31) $21.6 $19.8
We recorded liabilities of $24.6 million and $23.3 million for unrecognized tax benefits as of December 31, 2015 and
2014, respectively, which included interest and penalties of $3.0 million and $3.5 million, respectively. As of December 31,
2015 and 2014, the total amount of unrecognized benefits that, if recognized, would have affected the effective tax rate was
$22.0 million and $20.4 million, respectively, which included interest and penalties of $2.6 million and $3.1 million,
respectively. During 2015 and 2014 interest and penalties of $1.3 million and $1.0 million respectively were accrued.
Equifax and its subsidiaries are subject to U.S. federal, state and international income taxes. We are generally no longer
subject to federal, state or international income tax examinations by tax authorities for years before 2011. Due to the potential for
resolution of state and foreign examinations, and the expiration of various statutes of limitations, it is reasonably possible that
Equifax’s gross unrecognized tax benefit balance may change within the next twelve months by a range of zero to $9.4 million.
9. STOCK-BASED COMPENSATION
We have one active share-based award plan, the amended and restated 2008 Omnibus Incentive Plan. This plan was
originally approved by our shareholders in 2008 and was amended and restated with shareholder approval in May 2013 to,
among other things, increase the reserve for awards under the plan by 11 million shares. The plan provides our directors,
officers and certain key employees with stock options and nonvested stock. The plan is described below. We expect to issue
common shares held as either treasury stock or new issue shares upon the exercise of stock options or once nonvested shares
vest. Total stock-based compensation expense in our Consolidated Statements of Income during the twelve months ended
December 31, 2015, 2014 and 2013, was as follows:
Twelve Months Ended December 31,
2015 2014 2013
(Inmillions)
Cost of services $5.0 $4.6 $4.2
Selling, general and administrative expenses 33.4 33.5 28.0
Stock-based compensation expense, before income taxes $38.4 $38.1 $32.2
The total income tax benefit recognized for stock-based compensation expense was $13.8 million, $13.7 million and
$11.6 million for the twelve months ended December 31, 2015, 2014 and 2013, respectively.
Benefits of tax deductions in excess of recognized compensation cost are reported as a financing cash flow, rather than
as an operating cash flow. This requirement reduced operating cash flows and increased financing cash flows by $30.0 million,
$17.7 million and $14.6 million during the twelve months ended December 31, 2015, 2014 and 2013, respectively.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
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