EQUIFAX INCEFX
EQUIFAX INC Segments Disclosure
SEGMENT INFORMATION
Reportable Segments. We manage our business and report our financial results through the following three reportable segments, which are the same as our operating segments:
•Workforce Solutions
•U.S. Information Solutions ("USIS")
•International
The accounting policies of the reportable segments are the same as those described in our summary of significant accounting policies (see Note 1). We evaluate the performance of these reportable segments based on their operating revenue, operating income and operating margins, excluding any unusual or infrequent items, if any. The measurement criteria for segment profit or loss and segment assets are substantially the same for each reportable segment. Inter-segment sales, expenses and transfers are not material for all periods presented. All transactions between segments are accounted for at fair market value or cost depending on the nature of the transaction and no timing differences occur between segments.
Resources are allocated and performance is assessed by our CEO, whom we have determined to be our Chief Operating Decision Maker ("CODM"). The Company prepares a budget of expected financial performance for each of its operating segments on an annual basis. The CODM considers actual results of operating income to those budgeted for each of the operating segments to assess segment performance and decide how to allocate resources.
A summary of segment products and services is as follows:
Workforce Solutions. This segment provides services enabling customers to verify income, employment, educational history, criminal justice data, healthcare professional licensure and sanctions of people in the U.S., as well as providing our
employer customers with services that assist them in complying with and automating certain payroll-related and human resource management processes throughout the entire cycle of the employment relationship, including unemployment cost management, employee screening, employee onboarding, tax credits and incentives, I-9 management and compliance, immigration case management, tax form management services and Affordable Care Act management services.
U.S. Information Solutions. This segment includes consumer and commercial information services (such as credit information and credit scoring, credit modeling services and portfolio analytics, locate services, fraud detection and prevention services, identity verification services and other consulting services); mortgage services; financial marketing services; identity management; and credit monitoring products sold to resellers or directly to consumers.
International. We operate in the following regions: Latin America, Europe, Asia Pacific and Canada. The International segment includes information services products, which includes consumer and commercial services (such as credit and financial information, credit scoring and credit modeling services), credit and other marketing products and services. In Asia Pacific, Europe and Latin America, we also provide information, technology and services to support debt collections and recovery management. In Europe and Canada, we also provide credit monitoring products to resellers or directly to consumers.
Segment information for the twelve months ended December 31, 2025, 2024 and 2023 and as of December 31, 2025 and 2024 is as follows:
| Twelve Months Ended December 31, 2025 | ||||||||||||||||||||||||||
| Workforce Solutions | U.S. Information Solutions | International | Total | |||||||||||||||||||||||
| (In millions) | ||||||||||||||||||||||||||
| Operating Revenue | $ | 2,582.3 | $ | 2,078.5 | $ | 1,413.7 | $ | 6,074.5 | ||||||||||||||||||
Less: (1) | ||||||||||||||||||||||||||
| Cost of services | 940.5 | 939.0 | 642.1 | 2,521.6 | ||||||||||||||||||||||
| Selling, general and administrative expenses | 316.0 | 413.0 | 402.4 | 1,131.4 | ||||||||||||||||||||||
| Depreciation and amortization expenses | 184.3 | 251.3 | 186.7 | 622.3 | ||||||||||||||||||||||
| Operating Income | $ | 1,141.5 | $ | 475.2 | $ | 182.5 | $ | 1,799.2 | ||||||||||||||||||
| Reconciliation of segment operating income to consolidated income before income taxes: | ||||||||||||||||||||||||||
| Unallocated amounts: | ||||||||||||||||||||||||||
General corporate expense (2) | $ | (704.0) | ||||||||||||||||||||||||
| Other income, net | 12.0 | |||||||||||||||||||||||||
Interest expense (3) | (212.3) | |||||||||||||||||||||||||
| Consolidated income before income taxes | $ | 894.9 | ||||||||||||||||||||||||
| Twelve Months Ended December 31, 2024 | ||||||||||||||||||||||||||
| Workforce Solutions | U.S. Information Solutions | International | Total | |||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||
| Operating Revenue | $ | 2,433.8 | $ | 1,893.0 | $ | 1,354.3 | $ | 5,681.1 | ||||||||||||||||||
Less: (1) | ||||||||||||||||||||||||||
| Cost of services | 883.4 | 861.1 | 637.4 | 2,381.9 | ||||||||||||||||||||||
| Selling, general and administrative expenses | 318.7 | 390.2 | 359.7 | 1,068.6 | ||||||||||||||||||||||
| Depreciation and amortization expenses | 178.4 | 237.3 | 176.0 | 591.7 | ||||||||||||||||||||||
| Operating Income | $ | 1,053.3 | $ | 404.4 | $ | 181.2 | $ | 1,638.9 | ||||||||||||||||||
| Reconciliation of segment operating income to consolidated income before income taxes: | ||||||||||||||||||||||||||
| Unallocated amounts: | ||||||||||||||||||||||||||
General corporate expense (2) | $ | (596.8) | ||||||||||||||||||||||||
| Other expense, net | (2.5) | |||||||||||||||||||||||||
Interest expense (3) | (229.1) | |||||||||||||||||||||||||
| Consolidated income before income taxes | $ | 810.5 | ||||||||||||||||||||||||
| Twelve Months Ended December 31, 2023 | ||||||||||||||||||||||||||
| Workforce Solutions | U.S. Information Solutions | International | Total | |||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||
| Operating Revenue | $ | 2,315.8 | $ | 1,720.4 | $ | 1,229.0 | $ | 5,265.2 | ||||||||||||||||||
Less: (1) | ||||||||||||||||||||||||||
| Cost of services | 830.9 | 751.5 | 579.0 | 2,161.4 | ||||||||||||||||||||||
| Selling, general and administrative expenses | 339.1 | 398.1 | 334.6 | 1,071.8 | ||||||||||||||||||||||
| Depreciation and amortization expenses | 176.5 | 205.8 | 147.6 | 529.9 | ||||||||||||||||||||||
| Operating Income | $ | 969.3 | $ | 365.0 | $ | 167.8 | $ | 1,502.1 | ||||||||||||||||||
| Reconciliation of segment operating income to consolidated income before income taxes: | ||||||||||||||||||||||||||
| Unallocated amounts: | ||||||||||||||||||||||||||
General corporate expense (2) | $ | (568.5) | ||||||||||||||||||||||||
| Other income, net | 25.7 | |||||||||||||||||||||||||
Interest expense (3) | (241.4) | |||||||||||||||||||||||||
| Consolidated income before income taxes | $ | 717.9 | ||||||||||||||||||||||||
(1)The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
(2)General corporate expenses include corporate depreciation and amortization expenses that are not related to a specific business unit and are incurred at the corporate level, as well as unallocated costs incurred at the corporate level and those expenses impacted by the overall management and strategic choices of the company, including shared services overhead, technology, security, data and analytics, administrative, legal, restructuring charges to the extent reported in the period, and the portion of management incentive compensation determined by total company-wide performance.
(3)Interest expense includes interest incurred on our outstanding debt agreements.
| December 31, | ||||||||||||||
| Total assets: | 2025 | 2024 | ||||||||||||
| (In millions) | ||||||||||||||
| Workforce Solutions | $ | 4,067.6 | $ | 4,104.9 | ||||||||||
| U.S. Information Solutions | 3,354.1 | 3,386.2 | ||||||||||||
| International | 3,629.2 | 3,451.6 | ||||||||||||
| General Corporate | 813.3 | 816.7 | ||||||||||||
| Total assets | $ | 11,864.2 | $ | 11,759.4 | ||||||||||
| Twelve Months Ended December 31, | ||||||||||||||||||||
| Capital expenditures: | 2025 | 2024 | 2023 | |||||||||||||||||
| (In millions) | ||||||||||||||||||||
| Workforce Solutions | $ | 95.8 | $ | 96.0 | $ | 127.5 | ||||||||||||||
| U.S. Information Solutions | 102.8 | 161.2 | 131.3 | |||||||||||||||||
| International | 137.2 | 127.5 | 121.5 | |||||||||||||||||
| General Corporate | 144.4 | 111.2 | 205.5 | |||||||||||||||||
| Total capital expenditures* | $ | 480.2 | $ | 495.9 | $ | 585.8 | ||||||||||||||
*Amounts above include accruals for capital expenditures.
Financial information by geographic area is as follows:
| Twelve Months Ended December 31, | ||||||||||||||||||||||||||||||||||||||
| 2025 | 2024 | 2023 | ||||||||||||||||||||||||||||||||||||
| (In millions) | ||||||||||||||||||||||||||||||||||||||
Operating revenue: | Amount | % | Amount | % | Amount | % | ||||||||||||||||||||||||||||||||
| U.S. | $ | 4,660.8 | 77 | % | $ | 4,326.8 | 76 | % | $ | 4,036.2 | 77 | % | ||||||||||||||||||||||||||
| Australia | 318.1 | 5 | % | 309.1 | 5 | % | 317.6 | 6 | % | |||||||||||||||||||||||||||||
| U.K. | 325.9 | 5 | % | 302.8 | 5 | % | 265.8 | 5 | % | |||||||||||||||||||||||||||||
| Canada | 271.4 | 4 | % | 264.9 | 5 | % | 259.6 | 5 | % | |||||||||||||||||||||||||||||
| Other | 498.3 | 9 | % | 477.5 | 9 | % | 386.0 | 7 | % | |||||||||||||||||||||||||||||
| Total operating revenue | $ | 6,074.5 | 100 | % | $ | 5,681.1 | 100 | % | $ | 5,265.2 | 100 | % | ||||||||||||||||||||||||||
| December 31, | ||||||||||||||||||||||||||
| 2025 | 2024 | |||||||||||||||||||||||||
| (In millions) | ||||||||||||||||||||||||||
| Long-lived assets: | Amount | % | Amount | % | ||||||||||||||||||||||
| U.S. | $ | 7,255.1 | 69 | % | $ | 7,378.9 | 71 | % | ||||||||||||||||||
| Australia | 1,644.3 | 16 | % | 1,546.1 | 15 | % | ||||||||||||||||||||
| Brazil | 560.1 | 5 | % | 513.1 | 5 | % | ||||||||||||||||||||
| U.K. | 290.2 | 3 | % | 281.7 | 3 | % | ||||||||||||||||||||
| Canada | 207.9 | 2 | % | 210.6 | 2 | % | ||||||||||||||||||||
| Other | 494.4 | 5 | % | 468.4 | 4 | % | ||||||||||||||||||||
| Total long-lived assets | $ | 10,452.0 | 100 | % | $ | 10,398.8 | 100 | % | ||||||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 19, 2026 | Showing above |
| 2024 | Feb 20, 2025 | |
| 2023 | Feb 22, 2024 | |
| 2022 | Feb 23, 2023 | |
| 2021 | Feb 24, 2022 | |
| 2020 | Feb 25, 2021 | |
| 2019 | Feb 20, 2020 | |
| 2018 | Feb 21, 2019 | |
| 2017 | Mar 1, 2018 | |
| 2016 | Feb 22, 2017 | |
| 2015 | Feb 24, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.