Dun & Bradstreet Reports Third Quarter 2017 Results

Press Release
Nov 1, 2017
Contacts

Media
Deborah McBride
Dun & Bradstreet
973-921-5714
mcbrided@dnb.com

Investors
Kathy Guinnessey
Dun & Bradstreet
973-921-5892
Kathy.guinnessey@dnb.com


  • Raises Operating Income and EPS Guidance Ranges
  • Reaffirms Organic and Total Revenue Guidance; Expects to be at Lower End of Range for Both
  • Reaffirms Free Cash Flow Guidance

SHORT HILLS, N.J.--(BUSINESS WIRE)-- Dun & Bradstreet (NYSE:DNB) reported results for the third quarter ended September 30, 2017 of GAAP revenue up 4% year over year, after the effect of foreign exchange (up 3% before the effect of foreign exchange). As Adjusted revenue up 4% year over year, both after and before the effect of foreign exchange; and organic revenue up 2% year over year before the effect of foreign exchange.

"I am pleased we achieved another quarter of solid earnings performance by leveraging good cost discipline and reengineering processes to drive efficiencies," said Bob Carrigan, Chairman and CEO of Dun & Bradstreet. "Now that we have made critical investments to accelerate our growth strategy, we are well positioned to continue to improve our cost profile while investing in key areas of our business to achieve profitable growth."

  Quarter Ended   AFX   BFX
September 30, % Change % Change
(Amounts in millions, except per share data)

2017

  2016 Fav (Unfav) Fav (Unfav)
GAAP Revenue $ 428.3 $ 412.8 4 % 3 %
As Adjusted Revenue $ 430.0 $ 412.8 4 % 4 %
Organic Revenue $ 413.8 $ 403.7 2 %
 
GAAP Operating Income $ 95.2 $ 96.8 (2 )%
As Adjusted Operating Income $ 113.2 $ 107.3 6 %
 
GAAP Diluted Earnings (Loss) Per Share(1) $ 1.45 $ (0.80 ) N/M
As Adjusted Diluted Earnings (Loss) Per Share $ 1.79 $ 1.79 0 %
 
Year-To-Date

Sept 30,

Sept 30,

2017

2016

Net Cash Provided By Operating Activities - Continuing Operations (GAAP) $ 252.3 $ 280.0
Free Cash Flow $ 203.4 $ 232.1
(1) Quarter ended September 30, 2016 includes a $2.43 non-cash loss associated with the sale of operations in Benelux and Latin America.
N/M - Not Meaningful
 

See attached Schedules 5 and 6 for a reconciliation of As Adjusted metrics to GAAP results, as well as the definitions of the non-GAAP financial measures that the Company uses to evaluate the business.

Full Year 2017 Guidance

Dun & Bradstreet today updated its financial guidance for the full year 2017:

  • Organic revenue growth unchanged at 1% to 3%, before the effect of foreign exchange, though we expect to be at the lower end of the range;
  • As Adjusted total revenue growth unchanged at 3% to 5%, before the effect of foreign exchange, though we expect to be at the lower end of the range;
  • As Adjusted operating income growth of 1% to 3%, increased from previous guidance of growth of 0% to 2%;
  • As Adjusted diluted EPS of (4%) to (1%) versus prior year, increased from previous guidance of (7%) to (4%) versus prior year; and
  • Free cash flow of $215 million to $245 million, which excludes any potential regulatory fines associated with our China operations, and is unchanged from previous guidance.

Dun & Bradstreet does not provide guidance on a GAAP basis because Dun & Bradstreet is unable to predict, with reasonable certainty, the future movement of foreign exchange rates or the future impact of: (i) non-core gains and charges, (ii) acquisition and divestiture-related fees; and (iii) purchase accounting fair value adjustments to deferred revenue. These items are uncertain and will depend on several factors, including industry conditions, and could be material to Dun & Bradstreet's results computed in accordance with GAAP.

Deferred revenue for the Company as of September 30, 2017 was $608.7 million, up 5% year over year; Americas was $536.3 million, up 3% year over year and Non-Americas was $72.4 million, up 20% year over year. After adjusting for the effect of foreign exchange and acquisitions and dispositions, total Company deferred revenue was flat, Americas was down 1% and Non-Americas was up 4%, each as compared to September 30 last year.

Third Quarter 2017 Segment Results

Americas

  • GAAP revenue of $352.0 million, up 4% year over year both after and before the effect of foreign exchange; As Adjusted revenue of $353.7 million, up 4% year over year both after and before the effect of foreign exchange;
  • GAAP operating income of $99.7 million, down 1% year over year; As Adjusted operating income of $111.4 million, up 4% year over year.

Non-Americas

  • GAAP and As Adjusted revenue of $76.3 million, each up 3% year over year after the effect of foreign exchange (up 1% before the effect of foreign exchange);
  • GAAP operating income of $23.4 million, up 16% year over year. As Adjusted operating income of $23.7 million, up 18% year over year.

See attached Schedules 3, 4, 5, and 6 for additional detail.

Use of Non-GAAP Financial Measures

In addition to reporting generally accepted accounting principles in the United States of America ("GAAP") results, the Company evaluates performance and reports on a total company basis and on a business segment level basis its results (such as revenue, operating income, operating income growth, operating margin, net income, tax rate and diluted earnings per share) on an "As Adjusted" basis. The term "As Adjusted" refers to the following: the elimination of the effect on revenue due to purchase accounting fair value adjustments to deferred revenue; restructuring charges; other non-core gains and charges that are not in the normal course of our business (such as gains and losses on sales of businesses, impairment charges and material tax and legal settlements); acquisition and divestiture-related fees (such as costs for bankers, legal fees, diligence costs, retention payments, and contingent consideration adjustments); and acquisition-related intangible amortization expense. A recurring component excluded from our "As Adjusted" results is our restructuring charges, which we believe do not reflect our underlying business performance. Such charges are variable from period to period based upon actions identified and taken during each period. Additionally, our "As Adjusted" results exclude the results of Discontinued Operations.

We also isolate the effects of changes in foreign exchange rates on our revenue growth because we believe it is useful for investors to be able to compare revenue from one period to another, both after and before the effects of foreign exchange. The change in our operating performance attributable to foreign currency rates is determined by converting both our prior and current periods by a constant rate. As a result, we monitor our "As Adjusted" revenue growth both after and before the effects of foreign exchange.

We also analyze "As Adjusted" revenue growth on an organic basis because management believes this information provides important insight into the underlying/ongoing performance of the business. Organic revenue excludes the estimated revenue contribution from acquired businesses for one year from the date of the acquisition and net divested revenue which we define as the historical revenues from the divested businesses net of the annual ongoing future revenue streams resulting from the commercial arrangements entered into in connection with such divestitures.

We may from time to time use the term sales, which we define as the annual value of committed customer contracts. This term is often referred to as bookings or commitments by other companies.

We also monitor free cash flow as a measure of our business. We define free cash flow as net cash provided by operating activities minus capital expenditures and additions to computer software and other intangibles. Free cash flow measures our available cash flow for potential debt repayment, acquisitions, share repurchases, dividend payments and additions to cash, cash equivalents and short-term investments. We believe free cash flow to be relevant and useful to our investors as this measure is used by our management in evaluating the funding available after supporting our ongoing business operations and our portfolio of investments.

We also monitor deferred revenue after adjusting for the effect of foreign exchange, dispositions, acquisitions and the impacts of the write-down of deferred revenue due to purchase accounting.

We believe that the use of our non-GAAP financial measures provides useful supplemental information to our investors. Non-GAAP results are presented only as a supplement to the financial statements presented in accordance with GAAP. The non-GAAP financial information is provided to enhance the reader's understanding of our underlying financial performance. These non-GAAP financial measures should be reviewed in conjunction with the relevant GAAP financial measures and are not presented as an alternative measure of revenue, operating income, operating margin, net income, diluted EPS or net cash provided by operating activities as determined in accordance with GAAP.

Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures and related notes are presented and defined in Schedules 5 and 6 attached to this press release.

Third Quarter 2017 Teleconference

As previously announced, Dun & Bradstreet will review its third quarter 2017 results in a conference call with the investment community on Thursday, November 2, 2017, at 8 a.m. ET. Live audio, as well as a replay of the conference call will be accessible on Dun & Bradstreet's Investor Relations Web site at http://investor.dnb.com.

About Dun & Bradstreet®

Dun & Bradstreet (NYSE:DNB) grows the most valuable relationships in business. By uncovering truth and meaning from data, we connect our customers with the prospects, suppliers, clients and partners that matter most, and have since 1841. Nearly ninety percent of the Fortune 500, and companies of every size around the world, rely on our data, insights and analytics. For more about Dun & Bradstreet, visit DNB.com. Twitter: @DnBUS

Forward-Looking and Cautionary Statements

We may from time-to-time make written or oral "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements contained in filings with the Securities and Exchange Commission, in reports to shareholders and in press releases and investor Web casts. These forward-looking statements include, without limitation, any statements related to financial guidance or strategic goals. These forward-looking statements can also be identified by the use of words like "anticipates," "aspirations," "believes," "commits," "continues," "estimates," "expects," "goals," "guidance," "intends," "plans," "projects," "strategy," "targets," "will" and other words of similar meaning. They can also be identified by the fact that they do not relate strictly to historical or current facts.

We cannot guarantee that any forward-looking statement will be realized. Achievement of future results is subject to risks, uncertainties and inaccurate assumptions. Should known or unknown risks or uncertainties materialize, or should underlying assumptions prove inaccurate, actual results could vary materially from those anticipated, estimated or projected. Investors should bear this in mind as they consider forward-looking statements and whether to invest in, or remain invested in, our securities.

In connection with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, we are identifying the following important factors that, individually or in the aggregate, could cause actual results to differ materially from those contained in any forward-looking statements made by us; any such statement is qualified by reference to the following cautionary factors: (i) reliance on third parties to support critical components of our business model; (ii) our ability to protect our information technology infrastructure against cyber-attack and unauthorized access; (iii) risks associated with potential violations of the Foreign Corrupt Practices Act and similar laws; (iv) customer demand for our products; (v) the successful implementation of our business strategy; (vi) the integrity and security of our global databases and data centers; (vii) our ability to maintain the integrity of our brand and reputation; (viii) our ability to renew large contracts and the related revenue recognition and timing thereof; (ix) the impact of macro-economic challenges on our customers and vendors; (x) future laws or regulations with respect to the collection, compilation, storage, use, cross-border transfer, publication and/or sale of information and adverse publicity or litigation concerning the commercial use of such information; (xi) our ability to acquire and successfully integrate other businesses, products and technologies; (xii) adherence by third-party members of our Dun & Bradstreet Worldwide Network, or other third parties who license and sell under the Dun & Bradstreet name, to our quality standards and to the renewal of their agreements with Dun & Bradstreet; (xiii) the effects of foreign and evolving economies, exchange rate fluctuations, legislative or regulatory requirements and the implementation or modification of fees or taxes to collect, compile, store, use, transfer cross-border, publish and/or sell data; and (xiv) the other factors described under the headings "Risk Factors," "Management's Discussion and Analysis," "Legal Proceedings" and elsewhere in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q and the Company's other reports or documents filed or furnished with the Securities and Exchange Commission.

It should be understood that it is not possible to predict or identify all risk factors. Consequently, the above list of important factors and the Risk Factors discussed in Item 1A. of our Annual Report on Form 10-K and in our Quarterly Reports on Form 10-Q should not be considered to be a complete discussion of all of our potential trends, risks and uncertainties. Except as otherwise required by federal securities laws, we do not undertake any obligation to update any forward-looking statement we may make from time-to-time.

The Dun & Bradstreet Corporation   Schedule 1

Consolidated Statement of Operations (unaudited) - GAAP Results

 
        Effects of         Effects of  
Quarter Ended AFX Foreign BFX Year-to-Date AFX Foreign BFX
September 30, % Change Exchange % Change September 30, % Change Exchange % Change
Dollar amounts in millions, except per share data 2017 2016 Fav (Unfav) Fav (Unfav) Fav (Unfav) 2017 2016 Fav (Unfav) Fav (Unfav) Fav (Unfav)
 
Revenue:
 
Americas (1) $ 352.0 $ 338.8 4 % 0.1 % 4 % $ 1,000.1 $ 974.9 3 % 0.0 % 3 %
Non-Americas 76.3 74.0 3 % 1.9 % 1 % 215.4 211.7 2 % (2.2 )% 4 %
         
Total Revenue (2) $ 428.3   $ 412.8   4 % 0.4 % 3 % $ 1,215.5   $ 1,186.6   2 % (0.4 )% 3 %
 
Operating Income (Loss):
 
Americas (3) $ 99.7 $ 100.6 (1 )% $ 233.5 $ 253.9 (8 )%
Non-Americas (4) 23.4 20.0 16 % 62.8 47.2 33 %
Corporate and Other (5) (27.9 ) (23.8 ) (17 )% (83.8 ) (104.6 ) 20 %
         
Total Operating Income (6) 95.2 96.8 (2 )% 212.5 196.5 8 %
 
Interest Income 0.4 0.4 (13 )% 1.2 1.4 (19 )%
Interest Expense (15.2 ) (13.2 ) (15 )% (44.9 ) (40.1 ) (12 )%
Other Income (Expense) - Net (9) (0.9 ) (92.2 ) 99 % (0.9 ) (91.9 ) 99 %
         
Non-Operating Income (Expense) - Net (10) (15.7 ) (105.0 ) 85 % (44.6 ) (130.6 ) 66 %
         
Income (Loss) Before Provision for Income Taxes 79.5 (8.2 ) N/M 167.9 65.9 N/M
 
Less: Provision for Income Taxes (11) 24.2 19.8 (22 )% 51.1 45.0 (13 )%
Equity in Net Income (Loss) of Affiliates 0.5 1.2 (60 )% 3.2 2.9 10 %
         
Net Income (Loss) From Continuing Operations 55.8 (26.8 ) N/M 120.0 23.8 N/M
 
Less: Net (Income) Loss Attributable to the Noncontrolling Interest (1.7 ) (1.7 ) (2 )% (4.5 ) (3.5 ) (29 )%
         
Net Income (Loss) From Continuing Operations Attributable to Dun & Bradstreet 54.1 (28.5 ) N/M 115.5 20.3 N/M
 
Income from Discontinued Operations, Net of Income Taxes - - N/M - - N/M
Loss on Disposal of Business, Net of Tax Impact - (0.9 ) N/M (0.8 ) (0.9 ) 18 %
       
Income (Loss) from Discontinued Operations, Net of Income Taxes - (0.9 ) N/M (0.8 ) (0.9 ) 18 %
         
Net Income (Loss) Attributable to Dun & Bradstreet (7) $ 54.1   $ (29.4 ) N/M $ 114.7   $ 19.4   N/M
 
Basic Earnings (Loss) Per Share:
From Continuing Operations $ 1.46 $ (0.78 ) N/M $ 3.13 $ 0.56 N/M
From Discontinued Operations - (0.02 ) N/M (0.02 ) (0.03 ) 33 %
       

Basic Earnings (Loss) Per Share of Common Stock Attributable to Dun & Bradstreet Common Shareholders

$ 1.46   $ (0.80 ) N/M $ 3.11   $ 0.53   N/M
 
Diluted Earnings (Loss) Per Share:
From Continuing Operations $ 1.45 $ (0.78 ) N/M $ 3.11 $ 0.55 N/M
From Discontinued Operations - (0.02 ) N/M (0.02 ) (0.02 ) 0 %
       

Diluted Earnings (Loss) Per Share of Common Stock Attributable to Dun & Bradstreet Common Shareholders (8)

$ 1.45   $ (0.80 ) N/M $ 3.09   $ 0.53   N/M
         
Weighted Average Number of Shares Outstanding:
Basic   37.0     36.6   (1 )%   36.9     36.4   (2 )%
Diluted   37.2     36.6   (2 )%   37.1     36.7   (1 )%
 
 
Operating Margins (Calculated on Total Revenue)
 
Americas 28.3 % 29.7 % 23.3 % 26.0 %
Non-Americas 30.5 % 27.0 % 29.1 % 22.3 %
Total Company   22.2 %   23.5 %   17.5 %   16.6 %
 
Effective Tax Rate   30.5 %   (243.2 )%   30.5 %   68.4 %

AFX - After Effects of Foreign Exchange

 

BFX - Before Effects of Foreign Exchange

 

N/M - Not Meaningful

   
 

This financial information should be read in conjunction with the consolidated financial statements and related notes of The Dun & Bradstreet Corporation contained in filings with the Securities and Exchange Commission.

 
The Dun & Bradstreet Corporation   Schedule 2

Certain Selected As Adjusted* Metrics (unaudited)

 
        Effects of         Effects of  
Quarter Ended AFX Foreign BFX Year-to-Date AFX Foreign BFX
September 30, % Change Exchange % Change September 30, % Change Exchange % Change
Dollar amounts in millions, except per share data 2017 2016 Fav (Unfav) Fav (Unfav) Fav (Unfav) 2017 2016 Fav (Unfav) Fav (Unfav) Fav (Unfav)
 
Revenue:
Americas (1) $ 353.7 $ 338.8 4 % 0.1 % 4 % $ 1,006.8 $ 978.0 3 % 0.0 % 3 %
Non-Americas 76.3 74.0 3 % 1.9 % 1 % 215.4 211.7 2 % (2.2 )% 4 %
         
Total Revenue (2) $ 430.0   $ 412.8   4 % 0.4 % 4 % $ 1,222.2   $ 1,189.7   3 % (0.4 )% 3 %
 
Organic Revenue:**
Total Revenue $ 430.0 $ 412.8 4 % $ 1,222.2 $ 1,189.7 3 %
Less:
Acquisitions 14.8 - N/M 42.6 - N/M
Net Divested 1.4 9.1 N/M 3.4 25.2 N/M
         
Organic Revenue $ 413.8   $ 403.7   2 % $ 1,176.2   $ 1,164.5   1 %
 
Operating Income (Loss):
 
Americas (3) $ 111.4 $ 107.2 4 % $ 271.6 $ 277.7 (2 )%
Non-Americas (4) 23.7 20.1 18 % 63.6 47.6 34 %
Corporate and Other (5) (21.9 ) (20.0 ) (9 )% (64.6 ) (57.5 ) (12 )%
         
Total Operating Income (6) $ 113.2   $ 107.3   6 % $ 270.6   $ 267.8   1 %
 
 
Net Income Attributable to Dun & Bradstreet (7) $ 66.6   $ 66.2   1 % $ 153.7   $ 159.4   (4 )%
 

Basic Earnings Per Share of Common Stock Attributable to Dun & Bradstreet Common Shareholders

$ 1.80   $ 1.81   (1 )% $ 4.17   $ 4.38   (5 )%
 

Diluted Earnings Per Share of Common Stock Attributable to Dun & Bradstreet Common Shareholders (8)

$ 1.79   $ 1.79   0 % $ 4.14   $ 4.34   (5 )%
 
Weighted Average Number of Shares Outstanding:
Basic   37.0     36.6   (1 )%   36.9     36.4   (2 )%
Diluted   37.2     37.0   (1 )%   37.1     36.7   (1 )%
 
Other Information:
 
Interest Income $ 0.4 $ 0.4 (13 )% $ 1.2 $ 1.4 (19 )%
Interest Expense (15.2 ) (13.2 ) (15 )% (44.9 ) (40.1 ) (12 )%
Other Income (Expense) - Net (9) (0.9 ) (0.8 ) (4 )% (0.2 ) (0.5 ) 65 %
       
Non-Operating Income (Expense) - Net (10) $ (15.7 ) $ (13.6 ) (16 )% $ (43.9 ) $ (39.2 ) (12 )%
 
Provision for Income Taxes (11) $ 29.7   $ 27.0   (10 )% $ 71.7   $ 68.6   (5 )%
 
Equity in Net Income (Loss) of Affiliates $ 0.5   $ 1.2   (60 )% $ 3.2   $ 2.9   10 %
 
Net (Income) Loss Attributable to the Noncontrolling Interest $ (1.7 ) $ (1.7 ) (2 )% $ (4.5 ) $ (3.5 ) (29 )%
 
Operating Margins (Calculated on Total Revenue)
 
Americas 31.5 % 31.6 % 27.0 % 28.4 %
Non-Americas 31.0 % 27.1 % 29.5 % 22.5 %
Total Company   26.3 %   26.0 %   22.1 %   22.5 %
 
Effective Tax Rate   30.5 %   28.9 %   31.6 %   30.0 %

AFX - After Effects of Foreign Exchange

 

BFX - Before Effects of Foreign Exchange

 

N/M - Not Meaningful

   
 

This financial information should be read in conjunction with the consolidated financial statements and related notes of The Dun & Bradstreet Corporation contained in filings with the Securities and Exchange Commission.

 

See Schedule 6 (Notes to Schedules) for a reconciliation of each of these As Adjusted metrics to the corresponding GAAP metrics.

 

* As Adjusted includes the effect of divesting our operations in Benelux and Latin America

** See Schedule 6 (Notes to Schedules) for definition of Organic Revenue

 
The Dun & Bradstreet Corporation   Schedule 3

Supplemental Revenue Detail (unaudited) - GAAP Results

 
  Quarter Ended     Effects of     Year-to-Date   Effects of  
September 30, AFX Foreign BFX September 30, AFX Foreign BFX
  % Change Exchange % Change   % Change Exchange % Change

Amounts in millions

2017

2016

Fav/(Unfav) Fav/(Unfav) Fav/(Unfav)

2017

2016

Fav/(Unfav) Fav/(Unfav) Fav/(Unfav)
 
Geographic and Customer Solution Set Revenue:
Americas:
Risk Management Solutions
Trade Credit $ 126.6 $ 132.3 (4 )% 0.1 % (4 )% $ 372.8 $ 387.0 (4 )% 0.0 % (4 )%
Other Enterprise Risk Management   76.0     71.3   6 % 0.0 % 6 %   195.1     178.4   9 % 0.0 % 9 %
Total Americas Risk Management Solutions 202.6 203.6 0 % 0.1 % (1 )% 567.9 565.4 0 % 0.0 % 0 %
 
Sales and Marketing Solutions
Sales Acceleration $ 68.7 $ 62.8 10 % 0.0 % 10 % $ 204.1 $ 185.6 10 % 0.0 % 10 %
Advanced Marketing Solutions   80.7     72.4   11 % 0.0 % 11 %   228.1     223.9   2 % 0.0 % 2 %
Total Americas Sales and Marketing Solutions 149.4 135.2 11 % 0.0 % 11 % 432.2 409.5 6 % 0.0 % 6 %
       
Total Americas Revenue $ 352.0 $ 338.8 4 % 0.1 % 4 % $ 1,000.1 $ 974.9 3 % 0.0 % 3 %
 
Non-Americas:
Risk Management Solutions
Trade Credit $ 44.3 $ 43.5 2 % 0.2 % 1 % $ 126.7 $ 125.9 1 % (3.7 )% 4 %
Other Enterprise Risk Management   15.9     16.8   (5 )% 7.1 % (12 )%   45.2     49.1   (8 )% 2.4 % (10 )%
Total Non-Americas Risk Management Solutions 60.2 60.3 0 % 2.4 % (3 )% 171.9 175.0 (2 )% (1.8 )% 0 %
 
Sales and Marketing Solutions
Sales Acceleration $ 6.9 $ 4.8 38 % 1.7 % 36 % $ 20.2 $ 13.8 45 % (1.6 )% 47 %
Advanced Marketing Solutions   9.2     8.9   4 % (2.0 )% 6 %   23.3     22.9   2 % (6.2 )% 8 %
Total Non-Americas Sales and Marketing Solutions 16.1 13.7 16 % (0.9 )% 17 % 43.5 36.7 18 % (4.9 )% 23 %
       
Total Non-Americas Revenue $ 76.3 $ 74.0 3 % 1.9 % 1 % $ 215.4 $ 211.7 2 % (2.2 )% 4 %
 
Total Corporation:
Risk Management Solutions
Trade Credit $ 170.9 $ 175.8 (3 )% 0.2 % (3 )% $ 499.5 $ 512.9 (3 )% (0.8 )% (2 )%
Other Enterprise Risk Management   91.9     88.1   4 % 1.5 % 3 %   240.3     227.5   6 % 0.6 % 5 %
Total Risk Management Solutions 262.8 263.9 0 % 0.6 % (1 )% 739.8 740.4 0 % (0.4 )% 0 %
 
Sales and Marketing Solutions
Sales Acceleration $ 75.6 $ 67.6 12 % 0.2 % 12 % $ 224.3 $ 199.4 12 % 0.0 % 12 %
Advanced Marketing Solutions   89.9     81.3   11 % (0.2 )% 11 %   251.4     246.8   2 % (0.5 )% 2 %
Total Sales and Marketing Solutions 165.5 148.9 11 % 0.0 % 11 % 475.7 446.2 7 % (0.3 )% 7 %
       
Total Revenue $ 428.3   $ 412.8   4 % 0.4 % 3 % $ 1,215.5   $ 1,186.6   2 % (0.4 )% 3 %
 
Trade Credit Revenue:
Americas:
D&B Credit Suite $ 93.8 $ 95.7 (2 )% 0.2 % (2 )% $ 281.1 $ 284.1 (1 )% 0.0 % (1 )%
Other Trade Credit   32.8     36.6   (10 )% 0.0 % (10 )%   91.7     102.9   (11 )% 0.0 % (11 )%
Total Americas Trade Credit Revenue 126.6 132.3 (4 )% 0.1 % (4 )% 372.8 387.0 (4 )% 0.0 % (4 )%
 
Non-Americas:
D&B Credit Suite $ 6.2 $ 6.1 0 % (0.1 )% 0 % $ 14.3 $ 18.3 (22 )% (3.4 )% (19 )%
Other Trade Credit   38.1     37.4   2 % 0.3 % 1 %   112.4     107.6   4 % (3.7 )% 8 %
Total Non-Americas Trade Credit Revenue 44.3 43.5 2 % 0.2 % 1 % 126.7 125.9 1 % (3.7 )% 4 %
 
Total Corporation:
D&B Credit Suite $ 100.0 $ 101.8 (2 )% 0.2 % (2 )% $ 295.4 $ 302.4 (2 )% (0.2 )% (2 )%
Other Trade Credit   70.9     74.0   (4 )% 0.3 % (4 )%   204.1     210.5   (3 )% (1.6 )% (1 )%
Total Trade Credit Revenue $ 170.9   $ 175.8   (3 )% 0.2 % (3 )% $ 499.5   $ 512.9   (3 )% (0.8 )% (2 )%
 
D&B Hoovers Suite
Americas $ 41.6 $ 34.4 21 % 0.0 % 21 % $ 122.9 $ 102.2 20 % 0.0 % 20 %
Non-Americas   4.1     0.9   N/M N/M N/M   10.7     2.5   N/M N/M N/M
Total Corporation $ 45.7   $ 35.3   29 % 0.5 % 29 % $ 133.6   $ 104.7   28 % 0.1 % 27 %

This financial information should be read in conjunction with the consolidated financial statements and related notes of The Dun & Bradstreet Corporation contained in filings with the Securities and Exchange Commission.

 
The Dun & Bradstreet Corporation   Schedule 4

Supplemental Revenue Detail (unaudited) - As Adjusted*

 
  Quarter Ended     Effects of     Year-to-Date   Effects of  
September 30, AFX Foreign BFX September 30, AFX Foreign BFX
  % Change Exchange % Change   % Change Exchange % Change
Amounts in millions

2017

2016

Fav/(Unfav) Fav/(Unfav) Fav/(Unfav)

2017

2016

Fav/(Unfav) Fav/(Unfav) Fav/(Unfav)
 
Geographic and Customer Solution Set Revenue:
Americas:
Risk Management Solutions
Trade Credit $ 126.6 $ 132.3 (4 )% 0.1 % (4 )% $ 372.8 $ 387.3 (4 )% 0.0 % (4 )%
Other Enterprise Risk Management   76.0     71.3   6 % 0.0 % 6 %   195.1     180.6   8 % 0.0 % 8 %
Total Americas Risk Management Solutions 202.6 203.6 0 % 0.1 % (1 )% 567.9 567.9 0 % 0.0 % 0 %
 
Sales and Marketing Solutions
Sales Acceleration $ 70.4 $ 62.8 12 % 0.0 % 12 % $ 210.8 $ 186.2 13 % 0.0 % 13 %
Advanced Marketing Solutions   80.7     72.4   11 % 0.0 % 11 %   228.1     223.9   2 % 0.0 % 2 %
Total Americas Sales and Marketing Solutions 151.1 135.2 12 % 0.0 % 12 % 438.9 410.1 7 % 0.0 % 7 %
       
Total Americas Revenue $ 353.7 $ 338.8 4 % 0.1 % 4 % $ 1,006.8 $ 978.0 3 % 0.0 % 3 %
 
Non-Americas:
Risk Management Solutions
Trade Credit $ 44.3 $ 43.5 2 % 0.2 % 1 % $ 126.7 $ 125.9 1 % (3.7 )% 4 %
Other Enterprise Risk Management   15.9     16.8   (5 )% 7.1 % (12 )%   45.2     49.1   (8 )% 2.4 % (10 )%
Total Non-Americas Risk Management Solutions 60.2 60.3 0 % 2.4 % (3 )% 171.9 175.0 (2 )% (1.8 )% 0 %
 
Sales and Marketing Solutions
Sales Acceleration $ 6.9 $ 4.8 38 % 1.7 % 36 % $ 20.2 $ 13.8 45 % (1.8 )% 47 %
Advanced Marketing Solutions   9.2     8.9   4 % (2.0 )% 6 %   23.3     22.9   2 % (6.2 )% 8 %
Total Non-Americas Sales and Marketing Solutions 16.1 13.7 16 % (0.9 )% 17 % 43.5 36.7 18 % (5.0 )% 23 %
       
Total Non-Americas Revenue $ 76.3 $ 74.0 3 % 1.9 % 1 % $ 215.4 $ 211.7 2 % (2.2 )% 4 %
 
Total Corporation:
Risk Management Solutions
Trade Credit $ 170.9 $ 175.8 (3 )% 0.2 % (3 )% $ 499.5 $ 513.2 (3 )% (0.8 )% (2 )%
Other Enterprise Risk Management   91.9     88.1   4 % 1.5 % 3 %   240.3     229.7   5 % 0.6 % 4 %
Total Risk Management Solutions 262.8 263.9 0 % 0.6 % (1 )% 739.8 742.9 0 % (0.4 )% 0 %
 
Sales and Marketing Solutions
Sales Acceleration $ 77.3 $ 67.6 14 % 0.2 % 14 % $ 231.0 $ 200.0 15 % 0.0 % 15 %
Advanced Marketing Solutions   89.9     81.3   11 % (0.2 )% 11 %   251.4     246.8   2 % (0.5 )% 2 %
Total Sales and Marketing Solutions 167.2 148.9 12 % 0.0 % 12 % 482.4 446.8 8 % (0.3 )% 8 %
       
Total Revenue $ 430.0   $ 412.8   4 % 0.4 % 4 % $ 1,222.2   $ 1,189.7   3 % (0.4 )% 3 %
 
Trade Credit Revenue:
Americas:
D&B Credit Suite $ 93.8 $ 95.7 (2 )% 0.2 % (2 )% $ 281.1 $ 284.2 (1 )% 0.0 % (1 )%
Other Trade Credit   32.8     36.6   (10 )% 0.0 % (10 )%   91.7     103.1   (11 )% 0.0 % (11 )%
Total Americas Trade Credit Revenue 126.6 132.3 (4 )% 0.1 % (4 )% 372.8 387.3 (4 )% 0.0 % (4 )%
 
Non-Americas:
D&B Credit Suite $ 6.2 $ 6.1 0 % (0.1 )% 0 % $ 14.3 $ 18.3 (22 )% (3.4 )% (19 )%
Other Trade Credit   38.1     37.4   2 % 0.3 % 1 %   112.4     107.6   4 % (3.7 )% 8 %
Total Non-Americas Trade Credit Revenue 44.3 43.5 2 % 0.2 % 1 % 126.7 125.9 1 % (3.7 )% 4 %
 
Total Corporation:
D&B Credit Suite $ 100.0 $ 101.8 (2 )% 0.2 % (2 )% $ 295.4 $ 302.5 (2 )% (0.2 )% (2 )%
Other Trade Credit   70.9     74.0   (4 )% 0.3 % (4 )%   204.1     210.7   (3 )% (1.6 )% (2 )%
Total Trade Credit Revenue $ 170.9   $ 175.8   (3 )% 0.2 % (3 )% $ 499.5   $ 513.2   (3 )% (0.8 )% (2 )%
 
D&B Hoovers Suite
Americas $ 43.3 $ 34.4 26 % 0.0 % 26 % $ 129.6 $ 102.2 27 % 0.0 % 27 %
Non-Americas   4.1     0.9   N/M N/M N/M   10.7     2.5   N/M N/M N/M
Total Corporation $ 47.4   $ 35.3   34 % 0.4 % 34 % $ 140.3   $ 104.7   34 % 0.1 % 34 %

* As Adjusted includes the effect of divesting our operations in Benelux and Latin America

This financial information should be read in conjunction with the consolidated financial statements and related notes of The Dun & Bradstreet Corporation contained in filings with the Securities and Exchange Commission.

See Schedule 6 (Notes to Schedules) for a reconciliation of each of these As Adjusted metrics to the corresponding GAAP metrics.

 
The Dun & Bradstreet Corporation   Schedule 5
Supplemental Financial Data (unaudited)
 
  Quarter Ended       Year-to-Date  
September 30, AFX September 30, AFX
  % Change % Change

Amounts in millions

2017 2016 Fav/(Unfav) 2017 2016 Fav/(Unfav)
 
Operating Costs (GAAP):
Operating Expenses $ 142.6 $ 130.7 (9 )% $ 424.3 $ 396.1 (7 )%
Selling and Administrative Expenses 164.6 164.9 0 % 498.0 524.3 5 %
Depreciation and Amortization 20.1 17.2 (17 )% 58.4 50.9 (15 )%
Restructuring Expense   5.8     3.2   (81 )%   22.3     18.8   (18 )%
 
Total Operating Costs (GAAP) $ 333.1   $ 316.0   (5 )% $ 1,003.0   $ 990.1   (1 )%
 
Capital Expenditures (GAAP) $ 0.9   $ 2.6   68 % $ 6.7   $ 12.1   45 %
 
Additions to Computer Software & Other Intangibles (GAAP) $ 14.7   $ 12.4   (18 )% $ 42.2   $ 35.8   (18 )%
 
Operating Costs (As Adjusted):
Operating Expenses $ 142.6 $ 130.7 (9 )% $ 424.3 $ 396.1 (7 )%
Selling and Administrative Expenses 162.1 163.7 1 % 492.6 493.1 0 %
Depreciation and Amortization 12.1 11.1 (8 )% 34.7 32.7 (6 )%
Restructuring Expense   -     -   N/M   -     -   N/M
 
Total Operating Costs (As Adjusted) $ 316.8   $ 305.5   (4 )% $ 951.6   $ 921.9   (3 )%
 
 
Quarter Ended Year-to-Date
September 30, September 30,
Amounts in millions 2017 2016 2017 2016
 
Operating Expenses (GAAP): $ 142.6 $ 130.7 $ 424.3 $ 396.1
None - - - -
       
Operating Expenses (As Adjusted) $ 142.6   $ 130.7   $ 424.3   $ 396.1  
 
Selling and Admin (GAAP) $ 164.6 $ 164.9 $ 498.0 $ 524.3

Legal and Other Professional Fees and Shut-Down (Costs) Recoveries Related to Matters In China

- (0.4 ) (0.1 ) (1.6 )
Accrual for Legal Matters - - 8.0 (26.0 )
Acquisition/Divestiture Related Costs (2.5 ) (0.8 ) (13.3 ) (3.6 )
       
Selling and Admin (As Adjusted) $ 162.1   $ 163.7   $ 492.6   $ 493.1  
 
Depreciation and Amortization (GAAP) $ 20.1 $ 17.2 $ 58.4 $ 50.9
Amortization of Acquisition Related Intangibles (8.0 ) (6.1 ) (23.7 ) (18.2 )
       
Depreciation and Amortization (As Adjusted) $ 12.1   $ 11.1   $ 34.7   $ 32.7  
 
Restructuring (GAAP) $ 5.8 $ 3.2 $ 22.3 $ 18.8
Restructuring (5.8 ) (3.2 ) (22.3 ) (18.8 )
       
Restructuring (As Adjusted) $ -   $ -   $ -   $ -  
 
 
Quarter Ended

Sep 30,

Jun 30,

Mar 31,

Dec 31,

Sep 30,

Jun 30,

Mar 31,

Amounts in millions

2017

2017

2017

2016

2016

2016

2016

 
Net Debt Position:
Cash and Cash Equivalents $ 431.0 $ 400.2 $ 375.4 $ 352.6 $ 327.3 $ 379.1 $ 365.7
Short-Term Debt (30.0 ) (27.5 ) (22.5 ) (22.5 ) (20.0 ) (20.0 ) (20.0 )
Long-Term Debt   (1,651.6 )   (1,673.0 )   (1,684.7 )   (1,594.5 )   (1,586.4 )   (1,715.6 )   (1,725.4 )
 
Net Debt $ (1,250.6 ) $ (1,300.3 ) $ (1,331.8 ) $ (1,264.4 ) $ (1,279.1 ) $ (1,356.5 ) $ (1,379.7 )
 
 
Year-to-Date

% Change

Sep 30,

Sep 30,

Fav/

Amounts in millions

2017

2016

(Unfav)

 
Free Cash Flow:
Net Cash Provided By Operating Activities - Continuing Operations (GAAP) $ 252.3 $ 280.0 (10 )%
Less:
Capital Expenditures (GAAP) 6.7 12.1 45 %
Additions to Computer Software & Other Intangibles (GAAP) 42.2 35.8 (18 )%
   
Free Cash Flow $ 203.4   $ 232.1   (12 )%

This financial information should be read in conjunction with the consolidated financial statements and related notes of The Dun & Bradstreet Corporation contained in filings with the Securities and Exchange Commission.

See Schedule 6 (Notes to Schedules) for a reconciliation of each of these As Adjusted metrics to the corresponding GAAP metrics.

The Dun & Bradstreet Corporation   Schedule 6
Notes to Schedules 1, 2, 3, 4, and 5 (unaudited) and Definitions of Non-GAAP Measures
 
(1)   The following table reconciles Americas Total Revenue included in Schedule 1 and Schedule 2:    
Quarter Ended Year-to-Date
September 30, September 30,
Amounts in millions 2017   2016 2017   2016
Americas Total Revenue (GAAP) (Schedule 1) $ 352.0 $ 338.8 $ 1,000.1 $ 974.9
Acquisition Related Deferred Revenue Fair Value Adjustment (1.7 ) - (6.7 ) (3.1 )
       
Americas Total Revenue (As Adjusted) (Schedule 2) $ 353.7   $ 338.8   $ 1,006.8   $ 978.0  
 
(2) The following table reconciles Total Revenue included in Schedule 1 and Schedule 2:
Quarter Ended Year-to-Date
September 30, September 30,
Amounts in millions 2017 2016 2017 2016
Total Revenue (GAAP) (Schedule 1) $ 428.3 $ 412.8 $ 1,215.5 $ 1,186.6
Acquisition Related Deferred Revenue Fair Value Adjustment (1.7 ) - (6.7 ) (3.1 )
       
Total Revenue (As Adjusted) (Schedule 2) $ 430.0   $ 412.8   $ 1,222.2   $ 1,189.7  
 
(3) The following table reconciles Americas Operating Income included in Schedule 1 and Schedule 2:
Quarter Ended Year-to-Date
September 30, September 30,
Amounts in millions 2017 2016 2017 2016
Americas Operating Income (GAAP) (Schedule 1) $ 99.7 $ 100.6 $ 233.5 $ 253.9
 
Acquisition/Divestiture Related Costs (2.3 ) (0.5 ) (8.3 ) (2.5 )
Amortization of Acquisition Related Intangibles (7.7 ) (6.1 ) (23.1 ) (18.2 )
Acquisition Related Deferred Revenue Fair Value Adjustment (1.7 ) - (6.7 ) (3.1 )
       
Americas Operating Income (As Adjusted) (Schedule 2) $ 111.4   $ 107.2   $ 271.6   $ 277.7  
 
(4) The following table reconciles Non-Americas Operating Income included in Schedule 1 and Schedule 2:
Quarter Ended Year-to-Date
September 30, September 30,
Amounts in millions 2017 2016 2017 2016
Non-Americas Operating Income (GAAP) (Schedule 1) $ 23.4 $ 20.0 $ 62.8 $ 47.2
 
Legal and Other Professional Fees and Shut-Down (Costs) Recoveries Related to Matters In China - - - (0.1 )
Acquisition/Divestiture Related Costs - (0.1 ) (0.2 ) (0.3 )
Amortization of Acquisition Related Intangibles (0.3 ) - (0.6 ) -
       
Non-Americas Operating Income (As Adjusted) (Schedule 2) $ 23.7   $ 20.1   $ 63.6   $ 47.6  
 
(5) The following table reconciles Corporate and Other expenses included in Schedule 1 and Schedule 2:
Quarter Ended Year-to-Date
September 30, September 30,
Amounts in millions 2017 2016 2017 2016
Corporate and Other (GAAP) (Schedule 1) $ (27.9 ) $ (23.8 ) $ (83.8 ) $ (104.6 )
 
Restructuring Charges (5.8 ) (3.2 ) (22.3 ) (18.8 )
Legal and Other Professional Fees and Shut-Down (Costs) Recoveries Related to Matters In China - (0.4 ) (0.1 ) (1.5 )
Accrual for Legal Matters - - 8.0 (26.0 )
Acquisition/Divestiture Related Costs (0.2 ) (0.2 ) (4.8 ) (0.8 )
       
 
Corporate and Other (As Adjusted) (Schedule 2) $ (21.9 ) $ (20.0 ) $ (64.6 ) $ (57.5 )
 
(6) The following table reconciles Total Operating Income included in Schedule 1 and Schedule 2:
Quarter Ended Year-to-Date
September 30, September 30,
Amounts in millions 2017 2016 2017 2016
Total Operating Income (GAAP) Schedule 1) $ 95.2 $ 96.8 $ 212.5 $ 196.5
 
Restructuring Charges (5.8 ) (3.2 ) (22.3 )

 

(18.8 )
Legal and Other Professional Fees and Shut-Down (Costs) Recoveries Related to Matters In China - (0.4 ) (0.1 ) (1.6 )
Accrual for Legal Matters - - 8.0 (26.0 )
Acquisition/Divestiture Related Costs (2.5 ) (0.8 ) (13.3 ) (3.6 )
Amortization of Acquisition Related Intangibles (8.0 ) (6.1 ) (23.7 ) (18.2 )
Acquisition Related Deferred Revenue Fair Value Adjustment (1.7 ) - (6.7 ) (3.1 )
       
Total Operating Income (As Adjusted) (Schedule 2) $ 113.2   $ 107.3   $ 270.6   $ 267.8  
 
(7) The following table reconciles Net Income Attributable to Dun & Bradstreet included in Schedule 1 and Schedule 2:
Quarter Ended Year-to-Date
September 30, September 30,
Amounts in millions 2017 2016 2017 2016
Net Income (Loss) Attributable to Dun & Bradstreet (GAAP) (Schedule 1) $ 54.1 $ (29.4 ) $ 114.7 $ 19.4
 
Restructuring Charges (3.8 ) (2.1 ) (14.5 ) (12.2 )
Legal and Other Professional Fees and Shut-Down (Costs) Recoveries Related to Matters In China - (0.3 ) - (1.1 )
Accrual for Legal Matters - - 7.9 (22.0 )
Acquisition/Divestiture Related Costs (2.5 ) (0.6 ) (11.4 ) (2.4 )
Amortization of Acquisition Related Intangibles (5.0 ) (3.8 ) (15.0 ) (11.3 )
Acquisition Related Deferred Revenue Fair Value Adjustment (1.2 ) - (4.6 ) (2.2 )
Effect of Legacy and Other Tax Matters - 1.7 - 1.7
Gain (Loss) on Sale of Businesses - (89.6 ) (0.6 ) (89.6 )
       
After-Tax Impact (12.5 ) (94.7 ) (38.2 ) (139.1 )
 
Income (Loss) From Discontinued Operations, Net of Income Taxes - (0.9 ) (0.8 ) (0.9 )
       
Net Income Attributable to Dun & Bradstreet (As Adjusted) (Schedule 2) $ 66.6   $ 66.2   $ 153.7   $ 159.4  
 
(8) The following table reconciles Diluted Earnings Per Share Of Common Stock included in Schedule 1 and Schedule 2:
Quarter Ended Year-to-Date
September 30, September 30,
  2017 2016 2017 2016
Diluted EPS Attributable to Dun & Bradstreet Common Shareholders (GAAP) (Schedule 1) $ 1.45 $ (0.80 ) $ 3.09 $ 0.53
 
Restructuring Charges (0.10 ) (0.06 ) (0.39 ) (0.33 )
Legal and Other Professional Fees and Shut-Down (Costs) Recoveries Related to Matters In China - (0.01 ) - (0.03 )
Accrual for Legal Matters - - 0.21 (0.60 )
Acquisition/Divestiture Related Costs (0.07 ) (0.01 ) (0.31 ) (0.06 )
Amortization of Acquisition Related Intangibles (0.14 ) (0.10 ) (0.40 ) (0.31 )
Acquisition Related Deferred Revenue Fair Value Adjustment (0.03 ) - (0.12 ) (0.06 )
Effect of Legacy and Other Tax Matters - 0.04 - 0.04
Gain (Loss) on Sale of Businesses - (2.43 ) (0.02 ) (2.44 )
Discontinued Operations - (0.02 ) (0.02 ) (0.02 )
       
Diluted EPS Attributable to Dun & Bradstreet Common Shareholders (As Adjusted) (Schedule 2) $ 1.79   $ 1.79   $ 4.14   $ 4.34  
 
 
(9) The following table reconciles Other Income (Expense)-Net included in Schedule 1 and Schedule 2:
Quarter Ended Year-to-Date
September 30, September 30,
Amounts in millions 2017 2016 2017 2016
Other Income (Expense)-Net (GAAP) (Schedule 1) $ (0.9 ) $ (92.2 ) $ (0.9 ) $ (91.9 )
Effect of Legacy and Other Tax Matters - (1.7 ) - (1.7 )
Gain (Loss) on Sale of Businesses - (89.6 ) (0.7 ) (89.6 )
Acquisition/Divestiture Related Costs - (0.1 ) - (0.1 )
       
Other Income (Expense)-Net (As Adjusted) (Schedule 2) $ (0.9 ) $ (0.8 ) $ (0.2 ) $ (0.5 )
 
 
(10) The following table reconciles Non-Operating Income (Expense)-Net included in Schedule 1 and Schedule 2:
Quarter Ended Year-to-Date
September 30, September 30,
Amounts in millions 2017 2016 2017 2016
Non-Operating Income (Expense) - Net (GAAP) (Schedule 1) $ (15.7 ) $ (105.0 ) $ (44.6 ) $ (130.6 )
Effect of Legacy and Other Tax Matters - (1.7 ) - (1.7 )
Gain (Loss) on Sale of Businesses - (89.6 ) (0.7 ) (89.6 )
Acquisition/Divestiture Related Costs - (0.1 ) - (0.1 )
       
Non-Operating Income (Expense) - Net (As Adjusted) (Schedule 2) $ (15.7 ) $ (13.6 ) $ (43.9 ) $ (39.2 )
 
(11) The following table reconciles Provision for Income Taxes included in Schedule 1 and Schedule 2:
Quarter Ended Year-to-Date
September 30, September 30,
Amounts in millions 2017 2016 2017 2016
Provision for Income Taxes (GAAP) (Schedule 1) $ 24.2 $ 19.8 $ 51.1 $ 45.0
 
Restructuring Charges (2.0 ) (1.1 ) (7.8 ) (6.6 )
Legal and Other Professional Fees and Shut-Down (Costs) Recoveries Related to Matters In China - (0.1 ) (0.1 ) (0.5 )
Accrual for Legal Matters - - 0.1 (4.0 )
Acquisition/Divestiture Related Costs - (0.3 ) (1.9 ) (1.3 )
Amortization of Acquisition Related Intangibles (3.0 ) (2.3 ) (8.7 ) (6.9 )
Acquisition Related Deferred Revenue Fair Value Adjustment (0.5 ) - (2.1 ) (0.9 )
Effect of Legacy and Other Tax Matters - (3.4 ) - (3.4 )
Gain (Loss) on Sale of Businesses - - (0.1 ) -
       
Provision for Income Taxes (As Adjusted) (Schedule 2) $ 29.7   $ 27.0   $ 71.7   $ 68.6  
 
The Dun & Bradstreet Corporation   Schedule 6
Notes to Schedules 1, 2, 3, 4, and 5 (unaudited) and Definitions of Non-GAAP Measures
 
  Quarter Ended September 30, 2017   Quarter Ended September 30, 2016
 

Acquisition

 

Acquisition

 

Related

Related

GAAP

Deferred

As Adjusted*

GAAP

Deferred

As Adjusted*

Amounts in millions

(Sched 3)

Revenue

(Sched 4)

(Sched 3)

Revenue

(Sched 4)

 
Geographic and Customer Solution Set Revenue:
Americas:
Risk Management Solutions
Trade Credit $

126.6

 

$

-

 

$

126.6

 

$

132.3

 

$

-

 

$

132.3

 

Other Enterprise Risk Management   76.0     -     76.0     71.3     -     71.3  
Total Americas Risk Management Solutions 202.6 - 202.6 203.6 - 203.6
 
Sales and Marketing Solutions
Sales Acceleration $ 68.7 $ 1.7 $ 70.4 $ 62.8 $ - $ 62.8
Advanced Marketing Solutions   80.7     -     80.7     72.4     -     72.4  
Total Americas Sales and Marketing Solutions 149.4 1.7 151.1 135.2 - 135.2
           
Total Americas Revenue $ 352.0 $ 1.7 $ 353.7 $ 338.8 $ - $ 338.8
 
Non-Americas:
Risk Management Solutions
Trade Credit $ 44.3 $ - $ 44.3 $ 43.5 $ - $