transunion layoffs 2020

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This allows financial results to be evaluated without the impact of fluctuations in foreign currency exchange rates. The decrease in cash provided by continuing operations was due to a decrease in operating performance and a smaller increase in working capital compared to 2019 as a result of COVID-19, partially offset by lower interest expense. Determine which accounts you're most likely to collect from and apply strategies to collect more efficiently, Fight fraud more efficiently at the onset with TransUnion Fraud Detections and Prevention solutions, With TransUnion's ID Verification solutions, you'll know with whom you're engaging - before fraud occurs, TransUnion is your resource for guidance on growing your business through customer engagement, Gain agility in your decision-making process through our powerful analytics, Equip your organization with a plan to respond to a data breach or fraud event quickly and effectively, Improve the patient financial experience, streamline workflows and increase point-of-service collections, Capture hard-to-reach revenue to maximize reimbursements and improve your bottom line, Replace traditional credit applications and deliver an intuitive, consumer-friendly digital workflow, Best-in-class tools for driving profits throughout the entire resident journey, Get direct access to credit and non-credit data to create the right product suite for customers, Provide valuable credit education to your customersand gain a competitive edge, Gain a more complete view of consumers and their credit histories through greatly expanded information, Turn insights into smarter, more targeted and more actionable decisions, IDVision is a robust suite of solutions that enables you to make faster, more accurate decisions, Identify hard-to-find health insurance coverage to maximize reimbursements, Increase point-of-service collections and improve staff productivity with accurate patient payment estimates, A transformational analytics environment that puts the power of our deep data at your fingertips, Avoid skips, evictions and other bad resident outcomes within the multi-family market, Identify potential rate evasion before it impacts your book, Get a 360 view of people and businesses with one streamlined investigative risk-management tool, Access strategic auto finance solutions to find likely buyers, make loans more competitive and lower your risk, Foster greater investor confidence by analyzing and optimizing loan portfolios, Access tools and strategies to locate the right individuals and businesses for more efficient collections, Target and engage new prospects, generate valuable, new insights, and enhance the customer experience, Expand your credit unions lending and risk capabilities with a trusted partner, Powerful tools to optimize efficiency, minimize risk and gain deeper consumer insights for better decisioning, Be at the forefront of lending innovation by turning data into action. These include equities, fixed income, real estate, private equity, venture capital, and infrastructure. As a result of displaying amounts in millions, rounding differences may exist in the table above and footnotes below. Inorganic growth rate represents growth attributable to the first twelve months of activity for recent business acquisitions. Reconciliation of net income attributable to TransUnion to Adjusted Net Income: Amortization of certain intangible assets, Total adjustments before income tax items, Change in provision for income taxes per schedule 4, Anti-dilutive weighted stock-based awards outstanding. In conjunction with this release, TransUnion will host a conference call and webcast today at 8:30 a.m. Central Time to discuss the business results for the quarter and certain forward-looking information. Organic growth rate is the reported growth rate less the inorganic growth rate. It also provides consumer reports, risk scores, analytical services The principals of Golden Gate Capital have a long and successful history of investing across a wide range of industries and transaction types, including going-privates, corporate divestitures, and recapitalizations, as well as debt and public equity investments. There can be no assurance that the Company will achieve the results expressed by this guidance. Many of these factors are beyond our control. We define Adjusted EBITDA as net income (loss) attributable to TransUnion plus (less) loss (income) from discontinued operations, plus net interest expense, plus (less) provision (benefit) for income taxes, plus depreciation and amortization, plus (less) the revenue adjustments included in Adjusted Revenue, plus stock-based compensation, plus mergers, acquisitions, divestitures and business optimization-related expenses including Callcredit integration-related expenses, plus certain accelerated technology investment expenses to migrate to the cloud, plus (less) certain other expenses (income). Latin America revenue was $22 million, a decrease of 18 percent (5 percent on a constant currency basis) compared with the third quarter of 2019. The Adjusted Revenue growth includes an immaterial impact from acquisitions. Eliminates the impact of excess tax benefits for share compensation. Organic growth rate is the reported growth rate less the inorganic growth rate. We undertake no obligation to publicly release the result of any revisions to these forward-looking statements to reflect the impact of events or circumstances that may arise after the date of this press release. We define Adjusted Diluted Earnings per Share as Adjusted Net Income divided by the weighted-average diluted shares outstanding. Deferred revenue results when a company receives payment in advance of fulfilling their performance obligations under contracts. Cash used in financing activities was $297 million compared with $487 million in 2019. Adjusted Diluted Earnings per Share is expected to be between $0.74 and $0.80, a decrease of 1 percent to an increase of 7 percent. This earnings release presents constant currency growth rates assuming foreign currency exchange rates are consistent between years. What are the pros and cons of working at The fair value of this deferred revenue is determined based on the direct and indirect incremental costs of fulfilling our performance obligations under these contracts, plus a normal profit margin. Adjusted Outlook: For the fourth quarter of 2020, Adjusted EBITDA is expected to be between $255 million and $271 million, a decrease of 2 to 7 percent. ET Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: President, Chief Executive Officer & Director, Chief Financial Officer & Executive Vice President, Chief Information & Technology Officer, EVP. The revenue growth includes approximately 0.5 percent of benefit from acquisitions and 1 percent of benefit from foreign exchange rates. Cash used in investing activities was $267 million compared with $204 million in 2019. Latin America revenue was $23 million, a decrease of 12 percent (1 percent on a constant currency basis) compared with the fourth quarter of 2019. Diluted earnings per share is expected to be between $0.48 and $0.51, an increase of 31 to 39 percent. TransUnion achieved third quarter 2020 results in line with its Upside Case as provided in its scenario-based outlook. Emerging Verticals revenue, which includes Healthcare, Insurance and all other verticals, was $193 million, essentially flat (a decrease of 3 percent on an organic basis) compared with the fourth quarter of 2019. Segment Adjusted EBITDA margins are calculated using segment gross Adjusted Revenue and segment Adjusted EBITDA. Reconciliation of net income attributable to TransUnion to consolidated Adjusted EBITDA: Net income from continuing operations attributable to TransUnion, Mergers and acquisitions, divestitures and business optimization, Net income attributable to TransUnion as a percentage of revenue. Adjusted Revenue for the year was also $2.717 billion, an increase of 2 percent (3 percent on a constant currency basis, 2 percent on an organic constant currency basis). For the three months ended September 30, 2020, consisted of the following adjustments: $4.2 million for certain legal expenses; a ($0.8) million gain from currency remeasurement of our foreign operations; and a ($0.9) million recovery from the Fraud Incident, net of additional administration expenses. Fourth Quarter and Full Year 2020 Outlook. This session and the accompanying presentation materials may be accessed atwww.transunion.com/tru. In addition to factors previously disclosed in TransUnions reports filed with the Securities and Exchange Commission and those identified elsewhere in this press release, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: failure to realize the benefits expected from the recent business acquisitions; the effects of pending and future legislation; risks related to disruption of management time from ongoing business operations due to the recent business acquisitions; macroeconomic factors beyond TransUnions control; risks related to TransUnions indebtedness and other consequences associated with mergers, acquisitions and divestitures, and legislative and regulatory actions and reforms. Adjusted EBITDA margin for the year was 38.5 percent, compared with 39.8 percent in 2019. For the three months ended December 31, 2020, consisted of the following adjustments: a $(1.9) million gain from currency remeasurement of our foreign operations; a $(0.4) million recovery from the Fraud Incident (as defined in our Annual Report on Form 10-K for the year ended December 31, 2019), net of additional administrative expenses; and $0.9 million of deferred loan fees written off as a result of the prepayments on our debt.For the twelve months ended December 31, 2020, consisted of the following adjustments: $34.7 million for certain legal expenses; $0.9 million of deferred loan fees written off as a result of the prepayments on our debt; $0.2 million loss from currency remeasurement of our foreign operations; $0.2 million of fees related to our new swap agreements; a $(1.5) million recovery from the Fraud Incident, net of additional administrative expense; and $(0.4) million reimbursement of fees associated with the refinancing of our Senior Secured Credit Facility.For the three months ended December 31, 2019, consisted of the following adjustments: $13.0 million of fees related to the refinancing of our Senior Secured Credit Facility; $1.2 million of administrative expenses associated with the Fraud Incident offset by the $(0.3) million portion that is attributable to the non-controlling interest; $0.5 million of deferred loan fees written off as a result of the prepayments on our debt; a $(1.7) million gain from currency remeasurement; and a $(0.7) million reduction to expense for certain legal and regulatory matters.For the twelve months ended December 31, 2019, consisted of the following adjustments: $20.8 million of expenses (including $3.0 million of administrative expenses) associated with the Fraud Incident offset by the $(7.3) million portion that is attributable to the non-controlling interest; $13.0 million of fees related to the refinancing of our Senior Secured Credit Facility; $2.0 million of deferred loan fees written off as a result of the prepayments on our debt; a $0.1 million loss from currency remeasurement; and a $(0.7) million reduction to expense for certain legal and regulatory matters. Access over 100 billion public and proprietary data points in a free trial. Disputes Disputes are an important tool to take control of your credit health. Acquisition revenue - related adjustments. TRANSUNION AND SUBSIDIARIESConsolidated Balance Sheets (Unaudited)(in millions, except per share data), TRANSUNION AND SUBSIDIARIESConsolidated Statements of Income (Unaudited)(in millions, except per share data). As a result of displaying amounts in millions, rounding differences may exist in the tables above and footnotes below. Boston home security company SimpliSafe is shutting down its Taunton warehouse and laying off its 58 employees. See More Ecosystem Guides. TransUnion Fiscal Year 2021 Fourth Quarter Earnings Conference Call Chris Cartwright, CEO; Todd Cello, CFO Webcast Form 10-K Earnings Report Agreement to Acquire Verisk Financial Services Presentation Supplemental Financials (ex. Any statements made in this earnings release that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements. This earnings release also presents Adjusted Revenue, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Effective Tax Rate, Adjusted Net Income (Loss) and Adjusted Diluted Earnings per Share for all periods presented. In addition, our board of directors and executive management team use Adjusted Revenue as a compensation measure under our incentive compensation plans. Neustars security business, Neustar Security Services, is excluded from the transaction and now operates as a standalone portfolio company of Golden Gate Capital and GIC. U.S. Markets revenue was $431 million, an increase of 4 percent (3 percent on an organic basis) compared with the fourth quarter of 2019. For the three months ended September 30, 2020, consisted of the following adjustments: $4.2 million for certain legal expenses; $0.4 million of loan fees; a $(0.8) million gain from currency remeasurement of our foreign operations; a $(0.9) million recovery from the Fraud Incident (as defined in our Annual Report on Form 10-K for the year ended December 31, 2019), net of additional administration expenses; and $(0.3) million other. Simpson Thacher & Bartlett LLP served as legal advisor to TransUnion. Deferred revenue results when a company receives payment in advance of fulfilling their performance obligations under contracts. These financial measures should be reviewed in conjunction with the relevant GAAP financial measures and are not presented as alternative measures of GAAP. This earnings release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Adjusted Net Income and Adjusted Earnings Per Share (Unaudited). Beginning in the third quarter of 2019, we no longer have these adjustments to revenue. Effective Tax Rate and Adjusted Effective Tax Rate (Unaudited), Segment Depreciation and Amortization (Unaudited), Reconciliation of Non-GAAP Guidance (Unaudited), Senior Director of Public Relations, U.S. & International, TransUnion Announces Fourth Quarter 2020 Results, Audience Segmentation for Digital Marketing, Do not sell my personal information - CA residents only, TransUnion Announces Earnings Release Date for Fourth Quarter 2022 Results, TransUnion Insurance Trends and 2023 Outlook Report Points to More Online Life Insurance Shopping, TransUnion Completes Sale of G2, LCI and Fintellix to Stellex Capital Management for $176 million, TransUnion Named a Leader in Identity Verification Solutions by Independent Research Firm, More Pronounced Changes Expected in Consumer Credit Market in 2023 Even as More Than Half of Americans Remain Optimistic About Their Financial Future, Study Finds 66% of Delinquent Child Support Payments Remain in Arrears 12 Months Later, Trade accounts receivable, net of allowance of $26.6 and $19.0, Property, plant and equipment, net of accumulated depreciation and amortization of $548.9 and $454.4, Other intangibles, net of accumulated amortization of $1,752.2 and $1,482.1, Short-term debt and current portion of long-term debt, Common stock, $0.01 par value; 1.0 billion shares authorized at December 31, 2020 and December 31, 2019; 195.7 million and 193.5million shares issued as of December 31, 2020 and December 31, 2019, respectively; and 190.5 million and 188.7million shares outstanding as of December 31, 2020 and December 31, 2019, respectively, Treasury stock at cost; 5.2 and 4.8million shares at December 31, 2020 and December 31, 2019, respectively, Cost of services (exclusive of depreciation and amortization below), Income from continuing operations attributable to TransUnion, Add: loss from discontinued operations, net of tax. 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