8-K/AOther Events

EQUIFAX INC 8-K/A Report (Jul 20, 2001)

Filed July 20, 2001For Securities:EFX

Summary

This filing is an amendment to a previous Current Report on Form 8-K by Equifax Inc., filed on June 11, 2001. The primary purpose of this amendment is to correct and clarify financial data, specifically regarding the allocation of interest expense between Equifax and Certegy Inc. The amendment refines the "Restated Consolidated Financial Data" and "Normalized Consolidated Financial Data" previously filed. Importantly, the company states that these changes do not impact the overall pro forma results presented in Exhibit 99.1(a) or the "normalized" results in Exhibit 99.2, suggesting the core financial picture for investors remains consistent despite the adjustments. The filing also reiterates information from a press release on June 12, 2001, regarding the Board of Directors' approval of the spin-off of Certegy. The "Normalized Consolidated Financial Data" (Exhibit 99.2) is presented to reflect Equifax operating on a standalone basis, excluding Certegy and previously divested businesses. This normalization aims to provide a clearer view of Equifax's core continuing operations and its financial performance trajectory.

Key Highlights

  • 1Amendment to a prior 8-K filing, clarifying financial data related to Equifax and its spun-off entity, Certegy.
  • 2The amendment specifically addresses adjustments to interest expense allocation between Equifax and Certegy in financial statements.
  • 3Equifax confirms that these financial adjustments do not alter the previously presented pro forma results (Exhibit 99.1(a)) or normalized results (Exhibit 99.2).
  • 4The filing includes updated "Pro Forma Consolidated Financial Data" (Exhibit 99.1) and "Normalized Consolidated Financial Data" (Exhibit 99.2).
  • 5Exhibit 99.2 provides a "normalized" view of Equifax's standalone operations, excluding Certegy and previously divested businesses.
  • 6The normalization process includes elimination of divested operations (Healthcare, NDS, global risk management, UK vehicle information) and certain write-downs.
  • 7The filing reaffirms Equifax's strong historical financial performance, with projected sales growth of 7-9% in 2001 and long-term growth of 10%+, along with projected EPS growth of 11-13%.

Frequently Asked Questions

This filing is an amendment to correct and clarify financial data presented in a previous 8-K report. Specifically, it refines the reporting of interest expense allocation between Equifax and Certegy Inc. in the Restated Consolidated Financial Data and Normalized Consolidated Financial Data.

No, the company explicitly states that these adjustments do not impact the pro forma results presented in Exhibit 99.1(a) or the normalized results presented in Exhibit 99.2. The core financial picture remains consistent despite the clarification.

The Normalized Consolidated Financial Data (Exhibit 99.2) presents Equifax's financial results as if it had been operating on a standalone basis, excluding the spin-off of Certegy and other previously divested businesses. This provides investors with a clearer view of the performance of Equifax's core, continuing operations.

The normalized data excludes the historical operating results of Certegy, as well as divested operations including the Healthcare businesses (sold 1996), NDS (sold 1997), global risk management businesses (sold Oct 2000), and the UK vehicle information business (sold Dec 2000).