Like TransUnion, Neustar has built its brand and reputation on fostering trusted connections between consumers and businesses to help them transact with greater confidence. Net income attributable to TransUnion is expected to be between $92 million and $98 million, an increase of 31 to 39 percent. Beginning in the third quarter of 2019, we no longer have these adjustments to revenue. This adjustment represents certain non-cash adjustments related to acquired entities, predominantly adjustments to increase revenue resulting from purchase accounting reductions to deferred revenue we record on the opening balance sheets of acquired entities. The revenue growth rates include approximately 1 percent of headwind from foreign exchange rates. Cancel Anytime India revenue was $28 million, a decrease of 2 percent (an increase of 2 percent on a constant currency basis) compared with the fourth quarter of 2019. TransUnion Market Cap $12B Today's Change (-2.54%) -$1.57 Current Price $60.16 Price as of November 28, 2022, 4:00 p.m. For more information, visit www.goldengatecap.com. This session and the accompanying presentation materials may be accessed atwww.transunion.com/tru. 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. TransUnion is a global information and insights company that makes trust possible in the modern economy. TransUnions TLOxpskip tracing, investigative research and risk management. Fourth Quarter and Full Year 2020 Outlook. TransUnion Should Be Able to Increase Revenue Even Amid Sector Headwinds, Morgan Stanle.. Stellex Capital Management LLC Acquires G2, LCI, and Fintellix. Eliminates impact of state and foreign tax rate changes on deferred taxes, valuation allowances on foreign net operating losses, capital losses and foreign tax credits and other discrete adjustments. We define Adjusted Net Income as net income (loss) attributable to TransUnion plus (less) loss (gain) from discontinued operations, 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, plus (less) certain other expenses (income), plus amortization of certain intangible assets, plus or minus the related changes in provision for income taxes. We present Adjusted Revenue as a supplemental measure of our revenue because we believe it provides meaningful information regarding our revenue and provides a basis to compare revenue between periods. We present Adjusted Revenue as a supplemental measure of our revenue because we believe it provides meaningful information regarding our revenue and provides a basis to compare revenue between periods. Investors and others should note that TransUnion routinely announces material information to investors and the marketplace using SEC filings, press releases, public conference calls, webcasts and the TransUnion Investor Relations website. Factors that could cause actual results to differ materially from those described in the forward-looking statements include; the effects of the COVID-19 pandemic; the timing of the recovery from the COVID-19 pandemic; macroeconomic and industry trends and adverse developments in the debt, consumer credit and financial services markets; our ability to provide competitive services and prices; our ability to retain or renew existing agreements with large or long-term customers; our ability to maintain the security and integrity of our data; our ability to deliver services timely without interruption; our ability to maintain our access to data sources; government regulation and changes in the regulatory environment; litigation or regulatory proceedings; regulatory oversight of critical activities; our ability to effectively manage our costs; economic and political stability in the United States and international markets where we operate; our ability to effectively develop and maintain strategic alliances and joint ventures; our ability to timely develop new services and the markets willingness to adopt our new services; our ability to manage and expand our operations and keep up with rapidly changing technologies; our ability to make acquisitions, successfully integrate the operations of acquired businesses and realize the intended benefits of such acquisitions; our ability to protect and enforce our intellectual property, trade secrets and other forms of unpatented intellectual property; our ability to defend our intellectual property from infringement claims by third parties; the ability of our outside service providers and key vendors to fulfill their obligations to us; further consolidation in our end-customer markets; the increased availability of free or inexpensive consumer information; losses against which we do not insure; our ability to make timely payments of principal and interest on our indebtedness; our ability to satisfy covenants in the agreements governing our indebtedness; our ability to maintain our liquidity; share repurchase plans; our reliance on key management personnel; and other one-time events and other factors that can be found in our Annual Report on Form 10-K for the year ended December 31, 2019, and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K, which are filed with the Securities and Exchange Commission and are available on TransUnions website (www.transunion.com/tru) and on the Securities and Exchange Commissions website (www.sec.gov). Cash and cash equivalents were $493 million at December31, 2020 and $274 million at December31, 2019. We are confident that these actions position TransUnion for continued superior financial and commercial performance in the future, he concluded. Availability of Information on TransUnions Website. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are presented in the attached Schedules. 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. Disputes Disputes are an important tool to take control of your credit health. What are the pros and cons of working at Because of these limitations, these non-GAAP financial measures should not be considered in isolation or as substitutes for performance measures calculated in accordance with GAAP, including operating income, operating margin, effective tax rate, net income (loss) attributable to the Company, earnings per share or cash provided by operating activities. Simpson Thacher & Bartlett LLP served as legal advisor to TransUnion. If youve Managing your information is fast, easy, free and secure through the TransUnion Service Center. Neustar serves more than 8,000 clients worldwide, including 60 of the Fortune 100. Our long-term approach, multi-asset capabilities, and global connectivity enable us to be an investor of choice. Organic CC growth rate is the CC growth rate less inorganic growth rate. We do this by providing a comprehensive picture of each person so they can be reliably and safely represented in the marketplace. and RBC Capital Markets who acted as joint arrangers for TransUnion. Diluted earnings per share was $1.79 for the year, compared with $1.81 in 2019. Inorganic growth rate represents growth attributable to the first twelve months of activity for recent business acquisitions. A leading presence in more than 30 countries across five continents, TransUnion provides solutions that help create economic opportunity, great experiences and personal empowerment for hundreds of millions of people. Business performance continues to benefit from re Accordingly, the Company encourages investors, the media and others interested in TransUnion to review the information that it shares onwww.transunion.com/tru. This earnings release also presents organic constant currency growth rates, which assumes consistent foreign currency exchange rates between years and also eliminates the impact of our recent acquisitions. Improve policy pricing and underwriting decisions, identify potential fraud and gain consumer insights, Comprehensive identity and people-based marketing solutions to enable addressable interactions, Build a Better Understanding of Homebuyers, Expert solutions designed to help you manage processes across the entire resident quality management lifecycle, Make informed decisions with superior data assets, analytics and the insights to combat fraud, waste and abuse, Provide smooth customer experiences while effectively detecting potential fraudulent activity, Assess consumers' ability to repay and grow your business. Better predict cash flow, maximize reimbursements & deliver a more efficient, stress-free patient experience. 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. Consisted of stock-based compensation and cash-settled stock-based compensation. 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. We are reinstating guidance for the fourth quarter and full year 2020. Availability of Information on TransUnions Website. Access over 100 billion public and proprietary data points in a free trial. The table above provides a reconciliation for revenue to Adjusted Revenue. Customer Support | TransUnion Get Credit Monitoring CONTACT TRANSUNION CUSTOMER SUPPORT SO YOU CAN: Contact Us Find out how to contact TransUnion online, by phone and by mail. We define Adjusted Diluted Earnings per Share as Adjusted Net Income divided by the weighted-average diluted shares outstanding. 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. Jackson National Life Insurance Lays Off 150 Workers. This allows financial results to be evaluated without the impact of fluctuations in foreign currency exchange rates and the impacts of recent acquisitions. Many of these factors are beyond our control. Generally, this fair value calculation results in a reduction to the purchased deferred revenue balance. A replay of the call will also be available at this website following the conclusion of the call. Because of these limitations, these non-GAAP financial measures should not be considered in isolation or as substitutes for performance measures calculated in accordance with GAAP, including operating income, operating margin, effective tax rate, net income (loss) attributable to the Company, earnings per share or cash provided by operating activities. Consolidated Adjusted EBITDA margin is calculated using consolidated Adjusted Revenue and consolidated Adjusted EBITDA. Financial Services revenue was $238 million, an increase of 7 percent compared with the fourth quarter of 2019. Morgan Stanley Upgrades TransUnion to Overweight From Equalweight, Adjusts Price Target.. Trade accounts receivable, net of allowance of $25.3 and $19.0, Property, plant and equipment, net of accumulated depreciation and amortization of $520.5 and $454.4, Other intangibles, net of accumulated amortization of $1,660.8 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 September 30, 2020 and December 31, 2019, 195.5 million and 193.5 million shares issued at September 30, 2020 and December31, 2019, respectively, and 190.3 million shares and 188.7 million shares outstanding as of September 30, 2020 and December31, 2019, respectively, Treasury stock at cost; 5.2 million and 4.8million shares at September 30, 2020 and December31, 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. Adjusted EBITDA was $269 million for the quarter, a decrease of 2 percent (2 percent on a constant currency basis, 1 percent on an organic constant currency basis) compared with the fourth quarter of 2019. Cash used in financing activities was $297 million compared with $487 million in 2019. This adjustment represents certain non-cash adjustments related to acquired entities, predominantly adjustments to increase revenue resulting from purchase accounting reductions to deferred revenue we record on the opening balance sheets of acquired entities. As a result, businesses and consumers can transact with confidence and achieve great things. -, North American Morning Briefing: Investors Return -3-, Wells Fargo Upgrades TransUnion to Overweight From Equalweight, Price Target is $88, TransUnion Announces Earnings Release Date for Fourth Quarter 2022 Results. Adjusted EBITDA was $57 million, a decrease of 11 percent (8 percent on a constant currency basis) compared with the third quarter of 2019. 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. /. Consisted of amortization of intangible assets from our 2012 change in control transaction and amortization of intangible assets established in business acquisitions after our 2012 change in control transaction. Delivered another quarter of revenue growth with an attractive margin, and benefited from marketplace success as well as continued economic recovery in most markets. In addition, the revenue growth rates include approximately 3 percent of benefit due to the projected increase in mortgage revenue. Sidley Austin served as legal advisor to GIC. TransUnion achieved third quarter 2020 results in line with its Upside Case as provided in its scenario-based outlook. As it has been from the beginning of the pandemic, our primary focus continues to be the health and safety of our associates, our customers, and the wider communities in which we operate. The layoffs will impact dozens of departments and several hundred roles. The decrease in cash used in financing activities was due primarily to a decrease in debt prepayments of $150 million in 2020 compared with $340 million in 2019. These adjustments include the same adjustments we make to our Adjusted Revenue, Adjusted EBITDA and Adjusted Net Income as discussed in the Non-GAAP Financial Measures section of our Earnings Release. Consolidated Adjusted EBITDA margin is calculated using consolidated Adjusted Revenue and consolidated Adjusted EBITDA. 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. Adjusted EBITDA is also a measure frequently used by securities analysts, investors and other interested parties in their evaluation of the operating performance of companies similar to ours. Constant Currency (CC) growth rates assume foreign currency exchange rates are consistent between years. Before the pandemic, this group Adjusted Net Income was $156 million for the quarter, compared with$146 million for the third quarter of 2019. Read more about tech layoffs, here. Adjusted Diluted Earnings per Share for the quarter was$0.80, compared with$0.75for the fourth quarter of 2019. As a result of displaying amounts in millions, rounding differences may exist in the table above and footnotes below. India revenue was $24 million, a decrease of 13 percent (8 percent on a constant currency basis) compared with the third quarter of 2019. Eliminates the impact of excess tax benefits for share compensation. Eliminates the impact of excess tax benefits for share compensation. While not all of the information that the Company posts to the TransUnion Investor Relations website is of a material nature, some information could be deemed to be material. As a result of displaying amounts in millions, rounding differences may exist in the table above. The extent to which COVID-19 impacts our business and results of operations continues to be inherently uncertain and will depend on numerous evolving factors that we may not be able to accurately predict. Adjusted EBITDA was $177 million, a decrease of 2 percent (2 percent on an organic basis) compared with the third quarter of 2019. International revenue was $145 million, a decrease of 9 percent (7 percent on a constant currency basis) compared with the third quarter of 2019. This earnings release presents constant currency growth rates assuming foreign currency exchange rates are consistent between years. Dane Mauldin Executive Vice President, Chief Operations Officer Susan Muigai Executive Vice President, Chief Human Resources Officer Heather Russell Executive Vice President, Chief Legal Officer Steve Sassaman Executive Vice President, Chief Commercial Officer Todd Skinner President, International investor.relations@transunion.com Cash used in investing activities was $154 million compared with $155 million in 2019. Capital expenditures were $132 million in both periods. Dispute an item on your TransUnion credit report by mail. Adjusted Diluted Earnings per Share for the quarter was$0.81, compared with$0.76for the third quarter of 2019. These are important financial measures for the Company but are not financial measures as defined by GAAP. 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 earnings release. Neustar, a premier identity resolution company with leading solutions in Marketing, Fraud and Communications, enables customers to build connected consumer experiences by combining decision analytics with real-time identity resolution services driven by its OneID platform. Adjusted EBITDA was $162 million, a decrease of 2 percent (1 percent on an organic basis) compared with the fourth quarter of 2019. International revenue was $160 million, a decrease of 4 percent (2 percent on a constant currency basis) compared with the fourth quarter of 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. Adjusted Diluted Earnings per Share was $3.00 for the year, compared with $2.79 in 2019. 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. We remain acutely focused on the welfare of our associates and communities while also providing outstanding service and solutions for our customers around the world., We continue to invest in Global Operations, Global Solutions and Project Rise to drive further growth and efficiencies in our business. Any statements made in this press release that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements. Financial Services revenue was $249 million, an increase of 11 percent (11 percent on an organic basis) compared with the third quarter of 2019. A leading presence in more than 30 countries across 5 continents, TransUnion provides solutions that help create economic opportunity, great experiences and personal empowerment for hundreds of millions of people. Beginning in the third quarter of 2019, we no longer have these adjustments to revenue. Consisted of amortization of intangible assets from our 2012 change in control transaction and amortization of intangible assets established in business acquisitions after our 2012 change in control transaction. Total revenue for the quarter was $696 million, an increase of 1 percent (2 percent on a constant currency basis, 1 percent on an organic constant currency basis) compared with the third quarter of 2019. Evercore served as lead financial advisor to Golden Gate Capital and GIC. As of September30, 2020 and September30, 2019, there were 1.3 million and 1.1million contingently-issuable performance-based stock awards outstanding that were excluded from the diluted earnings per share calculation, respectively, because the contingencies had not been met. Segment Adjusted EBITDA margins are calculated using segment gross Adjusted Revenue and segment Adjusted EBITDA. Accelerated investments in Global Solutions and Global Operations, acquired Tru Optik, prepaid $150 million of debt and delivered on critical milestones for Project Rise. Excluding the impact of the revenue from the divestment of assets held for sale, revenue would have decreased 4 percent (8 percent on a constant currency basis) compared with the third quarter of 2019. Providing first quarter and full year 2021 financial guidance. Senior Director of Public Relations, U.S. & International, TransUnion and Neustar Announce Transaction Close, Audience Segmentation for Digital Marketing, Neustars security business, Neustar Security Services, is excluded from the transaction, and now operates as a standalone portfolio company of, 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. Actual results may differ materially from those described in the forward-looking statements. Net income attributable to TransUnion is expected to be between $372 million and $402 million, an increase of 8 to 17 percent. There can be no assurance that the Company will achieve the results expressed by this guidance. TransUnion | LayOff.site. TransUnion. Canada revenue was $29 million, an increase of 4 percent (2 percent on a constant currency basis) compared with the fourth quarter of 2019. See More 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. GAAP Outlook: For 2021, revenue is expected to be between $2.817 billion and $2.877 billion, an increase of 4 to 6 percent compared with 2020. Diluted earnings per share is expected to be between $1.67 and $1.73, a decrease of 4 to 8 percent. Business performance continues to benefit from re-openings, government stimulus and our successful proactive efforts to support our associates, customers and consumers during the pandemic. Adjusted EBITDA is also a measure frequently used by securities analysts, investors and other interested parties in their evaluation of the operating performance of companies similar to ours. Constant Currency (CC) growth rates assume foreign currency exchange rates are consistent between years. 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. In addition, we had $300 million of undrawn capacity on our Senior Secured Revolving Credit Facility. For the nine months ended September 30, 2020, cash provided by continuing operations was $558 million compared with $588 million in 2019. Continuously monitor your risk, improve decisions, take action and increase profitability. Capital expenditures were $214 million compared with $198 million in 2019. Our guidance is based on a number of assumptions that are subject to change, many of which are outside of the control of the Company. TRANSUNION AND SUBSIDIARIESConsolidated Statements of Cash Flows (Unaudited)(in millions), SCHEDULE 1TRANSUNION AND SUBSIDIARIESRevenue, Adjusted Revenue, and Adjusted EBITDA growth rates as Reported, CC, Inorganic, Organic and Organic CC (Unaudited), SCHEDULE 2TRANSUNION AND SUBSIDIARIESConsolidated and Segment Revenue, Adjusted Revenue, Adjusted EBITDA, and Adjusted EBITDA Margins (Unaudited)(dollars in millions). Represents expenses associated with our accelerated technology investment. Africa revenue was $13 million, a decrease of 19 percent (13 percent on a constant currency basis) compared with the fourth quarter of 2019. Cash and cash equivalents were $554 million at September30, 2020 and $274 million at December31, 2019. 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