[August 02, 2017] |
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Dun & Bradstreet Reports Second Quarter 2017 Results
Dun & Bradstreet (NYSE: DNB) reported results for the second quarter
ended June 30, 2017 of GAAP revenue up 2% year over year, both after and
before the effect of foreign exchange. As Adjusted revenue up 2% year
over year, after the effect of foreign exchange (up 3% before the effect
of foreign exchange); and organic revenue up 1% year over year before
the effect of foreign exchange.
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Quarter Ended
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AFX
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BFX
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June 30,
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% Change
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% Change
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(Amounts in millions, except per share data)
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2017
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2016
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Fav (Unfav)
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Fav (Unfav)
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GAAP Revenue
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$
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405.7
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$
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398.8
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2
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%
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2
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%
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As Adjusted Revenue
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$
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408.4
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$
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399.3
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2
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%
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3
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%
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Organic Revenue
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$
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392.5
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$
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390.7
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1
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%
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GAAP Operating Income(1)
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$
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76.4
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$
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46.5
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64
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%
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As Adjusted Operating Income
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$
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90.2
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$
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86.9
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4
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%
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GAAP Diluted Earnings (Loss) Per Share(1)
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$
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1.22
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$
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0.51
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N/M
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As Adjusted Diluted Earnings (Loss) Per Share
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$
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1.40
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$
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1.37
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2
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%
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Year-To-Date
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June 30, 2017
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June 30, 2016
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Net Cash Provided By Operating Activities - Continuing Operations
(GAAP)
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$
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176.5
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$
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180.9
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Free Cash Flow
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$
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143.2
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$
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148.0
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(1) Includes accrued expenses related to a legal matter
and the ongoing SEC and DOJ investigation of our China operations.
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N/M - Not Meaningful
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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:
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Organic revenue growth unchanged at 1% to 3%, before the effect of
foreign exchange;
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As Adjusted total revenue growth unchanged at 3% to 5%, before the
effect of foreign exchange;
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As Adjusted operating income growth of 0% to 2%, increased from
previous guidance of about flat, in the range of (2%) to 2% versus
prior year;
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As Adjusted diluted EPS of (7%) to (4%) versus prior year, increased
from previous guidance of (9%) to (4%) versus prior year; and
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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.
"I'm pleased with the solid earnings growth we drove in the second
quarter, while at the same time continuing to position the Company for
accelerating revenue growth going forward," said Bob Carrigan, Chairman
and CEO of Dun & Bradstreet. "We continue to deliver more of our
offerings through modern, as-a-service solutions so our customers can
get the critical data and insight they need, where and when they need
them."
Deferred revenue for the Company as of June 30, 2017 was $642.7 million,
up 2% year over year; Americas was $569.3 million, up 5% year over year
and Non-Americas was $73.4 million, down 17% year over year. After
adjusting for the effect of foreign exchange and acquisitions and
dispositions, total Company deferred revenue was up 3%, Americas was up
3% and Non-Americas was up 2%, each as compared to the same period last
year.
Second Quarter 2017 Segment Results
Americas
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GAAP revenue of $333.6 million, up 1% year over year both after and
before the effect of foreign exchange; As Adjusted revenue of $336.8
million, up 2% year over year both after and before the effect of
foreign exchange;
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GAAP operating income of $77.1 million, down 8% year over year; As
Adjusted operating income of $90.8 million, flat year over year. GAAP
operating income decline reflects acquisition-related costs, such as
deal costs and amortization of intangibles.
Non-Americas
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GAAP revenue of $72.1 million, up 3% year over year after the effect
of foreign exchange (up 7% before the effect of foreign exchange); As
Adjusted revenue of $71.6 million, up 3% year over year after the
effect of foreign exchange (up 7% before the effect of foreign
exchange);
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GAAP operating income of $20.6 million, up 46% year over year.
As Adjusted operating income of $20.6 million, up 42% year over year.
See attached Schedules 3, 4, 5, and 6 for additional detail.
Declares Quarterly Dividend
Dun & Bradstreet today announced that it has declared a quarterly cash
dividend of $0.5025 per share. This quarterly cash dividend is payable
on September 8, 2017 to shareholders of record at the close of business
on August 23, 2017.
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
revenue 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.
Changes to our Solution Set Reporting
We report and monitor our revenue performance as Risk Management
Solutions and Sales & Marketing Solutions. Within Risk Management
Solutions, we monitor the performance as Trade Credit and Other
Enterprise Risk Management. Trade Credit represents our commercial
credit products such as D&B Credit Suite (which includes DNBi® and D&B
Credit solutions), and "Other Trade Credit" solutions, which are
products and services used to manage credit risk and support our
customers' internal credit risk decisioning process. Other Enterprise
Risk Management includes all of our remaining Risk Management products,
such as our compliance, supply chain, credit on self and D&B Direct risk
solutions.
Effective January 1, 2017, we began managing and reporting our Sales and
Marketing Solutions as Sales Acceleration and Advanced Marketing
Solutions (newly defined). Sales Acceleration includes solutions
designed to align sales and marketing teams around the same refined and
inter-connected information (data that is current, tied to buying
signals, and delivered with context) to shorten sales cycles, increase
win rates, and accelerate revenue growth more quickly. Our customers
want to target more intelligently to enhance sales productivity; that is
to know who they are selling to, what their customers might be buying,
how things are changing at their customers' companies, where their
customers have purchased before, and how to most efficiently engage with
them. We provide these solutions through applications such as D&B
Hoovers, as well as direct access to our contact data. Advanced
Marketing Solutions (newly defined) consists of our Master Data
solutions, which enable our customers to integrate and organize data to
create a single view of customers and prospects, enrich data,
continuously manage data quality and link company identity and
hierarchy. It also consists of new use cases such as Audience Solutions,
which uses data and analytics to fuel enhanced programmatic targeting
and web visitor intelligence.
We also evaluate our business and provide the following supplemental
revenue metrics. For Trade Credit, we further provide revenue for the
D&B Credit Suite and Other Trade Credit. Prior to January 1, 2017, the
D&B Credit Suite was referred to as DNBi®. Also effective January 1,
2017, we began providing a new revenue metric called D&B Hoovers Suite.
This new metric encompasses our legacy Hoover's product, our new D&B
Hoovers product, our Salesforce alliance revenue through data.com and
our Avention, Inc. product portfolio. Management believes that these
measures provide further insight into our performance and the growth of
our business.
We no longer report our Sales and Marketing Solutions as Traditional
Prospecting Solutions or use the prior definition of Advanced Marketing
Solutions and we no longer report our total revenue on a Direct or
Alliances & Partners basis.
Where appropriate, we have reclassified certain prior year amounts to
conform to the current year presentation.
Second Quarter 2017 Teleconference
As previously announced, Dun & Bradstreet will review its second quarter
2017 results in a conference call with the investment community on
Thursday, August 3, 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.
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The Dun & Bradstreet Corporation
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Schedule 1
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Consolidated Statement of Operations (unaudited) - GAAP
Results
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Effects of
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Effects of
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Quarter Ended
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AFX
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Foreign
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BFX
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Year-to-Date
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AFX
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Foreign
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BFX
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June 30,
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% Change
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Exchange
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% Change
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June 30,
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% Change
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Exchange
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% Change
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Dollar amounts in millions, except per share data
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2017
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2016
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Fav (Unfav)
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Fav (Unfav)
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Fav (Unfav)
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2017
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2016
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Fav (Unfav)
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Fav (Unfav)
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Fav (Unfav)
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Revenue:
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Americas (1)
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$
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333.6
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$
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329.1
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1
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%
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(0.1
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)%
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1
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%
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$
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648.1
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$
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636.1
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2
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%
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0.0
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%
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2
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%
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Non-Americas (2)
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72.1
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69.7
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3
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%
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(3.9
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)%
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7
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%
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139.1
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137.7
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1
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%
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(4.5
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)%
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6
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%
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Total Revenue (3)
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$
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405.7
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$
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398.8
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2
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%
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(0.7
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)%
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2
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%
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$
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787.2
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$
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773.8
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2
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%
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(0.8
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)%
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2
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%
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Operating Income (Loss):
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Americas (4)
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$
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77.1
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$
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83.7
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(8
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)%
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$
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133.8
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$
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153.3
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(13
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)%
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Non-Americas (5)
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20.6
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14.2
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46
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%
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39.4
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27.2
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45
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%
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Corporate and Other (6)
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(21.3
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)
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(51.4
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59
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%
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(55.9
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)
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(80.8
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31
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%
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Total Operating Income (7)
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76.4
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46.5
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64
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%
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117.3
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99.7
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18
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%
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Interest Income
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0.4
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0.5
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(24
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)%
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0.8
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1.0
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(22
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)%
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Interest Expense
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(15.1
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)
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(13.4
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(12
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)%
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(29.7
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(26.9
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)
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(10
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)%
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Other Income (Expense) - Net (10)
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1.8
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(0.5
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N/M
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-
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0.3
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(91
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)%
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Non-Operating Income (Expense) - Net (11)
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(12.9
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(13.4
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3
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%
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(28.9
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)
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(25.6
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(13
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)%
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Income Before Provision for Income Taxes
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63.5
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33.1
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91
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%
|
|
|
|
|
|
|
88.4
|
|
|
|
74.1
|
|
|
19
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: Provision for Income Taxes (12)
|
|
|
|
18.7
|
|
|
|
14.2
|
|
|
(31
|
)%
|
|
|
|
|
|
|
26.9
|
|
|
|
25.2
|
|
|
(7
|
)%
|
|
|
|
|
Equity in Net Income (Loss) of Affiliates
|
|
|
|
1.9
|
|
|
|
1.0
|
|
|
100
|
%
|
|
|
|
|
|
|
2.7
|
|
|
|
1.7
|
|
|
61
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income From Continuing Operations
|
|
|
|
46.7
|
|
|
|
19.9
|
|
|
N/M
|
|
|
|
|
|
|
|
64.2
|
|
|
|
50.6
|
|
|
27
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: Net (Income) Loss Attributable to the Noncontrolling Interest
|
|
|
|
(1.6
|
)
|
|
|
(1.1
|
)
|
|
(49
|
)%
|
|
|
|
|
|
|
(2.8
|
)
|
|
|
(1.8
|
)
|
|
(52
|
)%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income From Continuing Operations Attributable to Dun &
Bradstreet
|
|
|
|
45.1
|
|
|
|
18.8
|
|
|
N/M
|
|
|
|
|
|
|
|
61.4
|
|
|
|
48.8
|
|
|
26
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from Discontinued Operations, Net of Income Taxes
|
|
|
|
-
|
|
|
|
-
|
|
|
N/M
|
|
|
|
|
|
|
|
-
|
|
|
|
-
|
|
|
N/M
|
|
|
|
|
|
Loss on Disposal of Business, Net of Tax Impact
|
|
|
|
-
|
|
|
|
-
|
|
|
N/M
|
|
|
|
|
|
|
|
(0.8
|
)
|
|
|
-
|
|
|
N/M
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (Loss) from Discontinued Operations, Net of Income Taxes
|
|
|
|
-
|
|
|
|
-
|
|
|
N/M
|
|
|
|
|
|
|
|
(0.8
|
)
|
|
|
-
|
|
|
N/M
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income Attributable to Dun & Bradstreet (8)
|
|
|
$
|
45.1
|
|
|
$
|
18.8
|
|
|
N/M
|
|
|
|
|
|
|
$
|
60.6
|
|
|
$
|
48.8
|
|
|
24
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic Earnings (Loss) Per Share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
From Continuing Operations
|
|
|
$
|
1.22
|
|
|
$
|
0.52
|
|
|
N/M
|
|
|
|
|
|
|
$
|
1.66
|
|
|
$
|
1.35
|
|
|
23
|
%
|
|
|
|
|
From Discontinued Operations
|
|
|
|
-
|
|
|
|
-
|
|
|
N/M
|
|
|
|
|
|
|
|
(0.02
|
)
|
|
|
-
|
|
|
N/M
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic Earnings (Loss) Per Share of Common Stock
Attributable to Dun & Bradstreet Common Shareholders
|
|
|
$
|
1.22
|
|
|
$
|
0.52
|
|
|
N/M
|
|
|
|
|
|
|
$
|
1.64
|
|
|
$
|
1.35
|
|
|
21
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted Earnings (Loss) Per Share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
From Continuing Operations
|
|
|
$
|
1.22
|
|
|
$
|
0.51
|
|
|
N/M
|
|
|
|
|
|
|
$
|
1.65
|
|
|
$
|
1.34
|
|
|
23
|
%
|
|
|
|
|
From Discontinued Operations
|
|
|
|
-
|
|
|
|
-
|
|
|
N/M
|
|
|
|
|
|
|
|
(0.02
|
)
|
|
|
-
|
|
|
N/M
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted Earnings (Loss) Per Share of Common Stock
Attributable to Dun & Bradstreet Common Shareholders (9)
|
|
|
$
|
1.22
|
|
|
$
|
0.51
|
|
|
N/M
|
|
|
|
|
|
|
$
|
1.63
|
|
|
$
|
1.34
|
|
|
22
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted Average Number of Shares Outstanding:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
|
36.9
|
|
|
|
36.3
|
|
|
(2
|
)%
|
|
|
|
|
|
|
36.9
|
|
|
|
36.2
|
|
|
(2
|
)%
|
|
|
|
|
Diluted
|
|
|
|
37.1
|
|
|
|
36.6
|
|
|
(1
|
)%
|
|
|
|
|
|
|
37.1
|
|
|
|
36.5
|
|
|
(2
|
)%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Margins (Calculated on Total Revenue)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Americas
|
|
|
|
23.1
|
%
|
|
|
25.4
|
%
|
|
|
|
|
|
|
|
|
20.6
|
%
|
|
|
24.1
|
%
|
|
|
|
|
|
|
Non-Americas
|
|
|
|
28.7
|
%
|
|
|
20.4
|
%
|
|
|
|
|
|
|
|
|
28.4
|
%
|
|
|
19.7
|
%
|
|
|
|
|
|
|
Total Company
|
|
|
|
18.8
|
%
|
|
|
11.7
|
%
|
|
|
|
|
|
|
|
|
14.9
|
%
|
|
|
12.9
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effective Tax Rate
|
|
|
|
29.4
|
%
|
|
|
42.9
|
%
|
|
|
|
|
|
|
|
|
30.4
|
%
|
|
|
34.0
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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.
|
|
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
|
|
|
June 30,
|
|
% Change
|
|
Exchange
|
|
% Change
|
|
June 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)
|
|
$
|
336.8
|
|
|
$
|
329.6
|
|
|
2
|
%
|
|
(0.1
|
)%
|
|
2
|
%
|
|
$
|
653.1
|
|
|
$
|
639.2
|
|
|
2
|
%
|
|
0.0
|
%
|
|
2
|
%
|
Non-Americas (2)
|
|
|
71.6
|
|
|
|
69.7
|
|
|
3
|
%
|
|
(3.9
|
)%
|
|
7
|
%
|
|
|
139.1
|
|
|
|
137.7
|
|
|
1
|
%
|
|
(4.5
|
)%
|
|
6
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Revenue (3)
|
|
$
|
408.4
|
|
|
$
|
399.3
|
|
|
2
|
%
|
|
(0.7
|
)%
|
|
3
|
%
|
|
$
|
792.2
|
|
|
$
|
776.9
|
|
|
2
|
%
|
|
(0.8
|
)%
|
|
3
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Organic Revenue:**
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Revenue
|
|
$
|
408.4
|
|
|
$
|
399.3
|
|
|
|
|
|
|
3
|
%
|
|
$
|
792.2
|
|
|
$
|
776.9
|
|
|
|
|
|
|
3
|
%
|
Less:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Acquisitions
|
|
|
14.7
|
|
|
|
-
|
|
|
|
|
|
|
N/M
|
|
|
|
27.8
|
|
|
|
-
|
|
|
|
|
|
|
N/M
|
|
Net Divested
|
|
|
1.2
|
|
|
|
8.6
|
|
|
|
|
|
|
N/M
|
|
|
|
2.0
|
|
|
|
16.2
|
|
|
|
|
|
|
N/M
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Organic Revenue
|
|
$
|
392.5
|
|
|
$
|
390.7
|
|
|
|
|
|
|
1
|
%
|
|
$
|
762.4
|
|
|
$
|
760.7
|
|
|
|
|
|
|
1
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Income (Loss):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Americas (4)
|
|
$
|
90.8
|
|
|
$
|
90.8
|
|
|
0
|
%
|
|
|
|
|
|
$
|
160.2
|
|
|
$
|
170.5
|
|
|
(6
|
)%
|
|
|
|
|
Non-Americas (5)
|
|
|
20.6
|
|
|
|
14.5
|
|
|
42
|
%
|
|
|
|
|
|
|
39.9
|
|
|
|
27.5
|
|
|
45
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate and Other (6)
|
|
|
(21.2
|
)
|
|
|
(18.4
|
)
|
|
(15
|
)%
|
|
|
|
|
|
|
(42.7
|
)
|
|
|
(37.5
|
)
|
|
(14
|
)%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Operating Income (7)
|
|
$
|
90.2
|
|
|
$
|
86.9
|
|
|
4
|
%
|
|
|
|
|
|
$
|
157.4
|
|
|
$
|
160.5
|
|
|
(2
|
)%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income Attributable to Dun & Bradstreet (8)
|
|
$
|
51.9
|
|
|
$
|
50.0
|
|
|
4
|
%
|
|
|
|
|
|
$
|
87.1
|
|
|
$
|
93.2
|
|
|
(7
|
)%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic Earnings Per Share of Common Stock
Attributable to Dun & Bradstreet Common Shareholders
|
|
$
|
1.41
|
|
|
$
|
1.38
|
|
|
2
|
%
|
|
|
|
|
|
$
|
2.36
|
|
|
$
|
2.57
|
|
|
(8
|
)%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted Earnings Per Share of Common Stock
Attributable to Dun & Bradstreet Common Shareholders (9)
|
|
$
|
1.40
|
|
|
$
|
1.37
|
|
|
2
|
%
|
|
|
|
|
|
$
|
2.35
|
|
|
$
|
2.55
|
|
|
(8
|
)%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted Average Number of Shares Outstanding:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
36.9
|
|
|
|
36.3
|
|
|
(2
|
)%
|
|
|
|
|
|
|
36.9
|
|
|
|
36.2
|
|
|
(2
|
)%
|
|
|
|
|
Diluted
|
|
|
37.1
|
|
|
|
36.6
|
|
|
(1
|
)%
|
|
|
|
|
|
|
37.1
|
|
|
|
36.5
|
|
|
(2
|
)%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Information:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest Income
|
|
$
|
0.4
|
|
|
$
|
0.5
|
|
|
(24
|
)%
|
|
|
|
|
|
$
|
0.8
|
|
|
$
|
1.0
|
|
|
(22
|
)%
|
|
|
|
|
Interest Expense
|
|
|
(15.1
|
)
|
|
|
(13.4
|
)
|
|
(12
|
)%
|
|
|
|
|
|
|
(29.7
|
)
|
|
|
(26.9
|
)
|
|
(10
|
)%
|
|
|
|
|
Other Income (Expense) - Net (10)
|
|
|
1.8
|
|
|
|
(0.5
|
)
|
|
N/M
|
|
|
|
|
|
|
|
0.7
|
|
|
|
0.3
|
|
|
N/M
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-Operating Income (Expense) - Net (11)
|
|
$
|
(12.9
|
)
|
|
$
|
(13.4
|
)
|
|
3
|
%
|
|
|
|
|
|
$
|
(28.2
|
)
|
|
$
|
(25.6
|
)
|
|
(10
|
)%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provision for Income Taxes (12)
|
|
$
|
25.7
|
|
|
$
|
23.4
|
|
|
(10
|
)%
|
|
|
|
|
|
$
|
42.0
|
|
|
$
|
41.6
|
|
|
(1
|
)%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Margins (Calculated on Total Revenue)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Americas
|
|
|
27.0
|
%
|
|
|
27.5
|
%
|
|
|
|
|
|
|
|
|
24.5
|
%
|
|
|
26.7
|
%
|
|
|
|
|
|
|
Non-Americas
|
|
|
28.9
|
%
|
|
|
20.9
|
%
|
|
|
|
|
|
|
|
|
28.7
|
%
|
|
|
20.0
|
%
|
|
|
|
|
|
|
Total Company
|
|
|
22.1
|
%
|
|
|
21.8
|
%
|
|
|
|
|
|
|
|
|
19.9
|
%
|
|
|
20.7
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effective Tax Rate
|
|
|
33.2
|
%
|
|
|
31.7
|
%
|
|
|
|
|
|
|
|
|
32.5
|
%
|
|
|
30.8
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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
|
|
|
|
|
|
|
|
|
June 30,
|
|
AFX
|
|
Foreign
|
|
BFX
|
|
June 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
|
|
|
|
$
|
122.0
|
|
$
|
126.4
|
|
(3
|
)%
|
|
(0.2
|
)%
|
|
(3
|
)%
|
|
$
|
246.2
|
|
$
|
254.7
|
|
(3
|
)%
|
|
0.0
|
%
|
|
(3
|
)%
|
|
|
Other Enterprise Risk Management
|
|
|
|
61.3
|
|
|
57.6
|
|
6
|
%
|
|
0.0
|
%
|
|
6
|
%
|
|
|
119.1
|
|
|
107.1
|
|
11
|
%
|
|
0.0
|
%
|
|
11
|
%
|
|
|
Total Americas Risk Management Solutions
|
|
|
|
183.3
|
|
|
184.0
|
|
0
|
%
|
|
(0.1
|
)%
|
|
0
|
%
|
|
|
365.3
|
|
|
361.8
|
|
1
|
%
|
|
0.0
|
%
|
|
1
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales and Marketing Solutions
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales Acceleration
|
|
|
|
$
|
66.1
|
|
$
|
60.4
|
|
9
|
%
|
|
(0.1
|
)%
|
|
9
|
%
|
|
$
|
135.4
|
|
$
|
122.8
|
|
10
|
%
|
|
0.0
|
%
|
|
10
|
%
|
|
|
Advanced Marketing Solutions
|
|
|
|
84.2
|
|
|
84.7
|
|
(1
|
)%
|
|
0.0
|
%
|
|
(1
|
)%
|
|
|
147.4
|
|
|
151.5
|
|
(3
|
)%
|
|
0.0
|
%
|
|
(3
|
)%
|
|
|
Total Americas Sales and Marketing Solutions
|
|
|
|
150.3
|
|
|
145.1
|
|
4
|
%
|
|
0.0
|
%
|
|
4
|
%
|
|
|
282.8
|
|
|
274.3
|
|
3
|
%
|
|
0.0
|
%
|
|
3
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Americas Revenue
|
|
|
|
$
|
333.6
|
|
$
|
329.1
|
|
1
|
%
|
|
(0.1
|
)%
|
|
1
|
%
|
|
$
|
648.1
|
|
$
|
636.1
|
|
2
|
%
|
|
0.0
|
%
|
|
2
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-Americas:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk Management Solutions
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade Credit
|
|
|
|
$
|
41.5
|
|
$
|
42.2
|
|
(2
|
)%
|
|
(5.3
|
)%
|
|
4
|
%
|
|
$
|
82.4
|
|
$
|
82.4
|
|
0
|
%
|
|
(5.9
|
)%
|
|
6
|
%
|
|
|
Other Enterprise Risk Management
|
|
|
|
15.8
|
|
|
15.9
|
|
(1
|
)%
|
|
1.1
|
%
|
|
(2
|
)%
|
|
|
29.3
|
|
|
32.3
|
|
(9
|
)%
|
|
0.0
|
%
|
|
(9
|
)%
|
|
|
Total Non-Americas Risk Management Solutions
|
|
|
|
57.3
|
|
|
58.1
|
|
(2
|
)%
|
|
(3.4
|
)%
|
|
2
|
%
|
|
|
111.7
|
|
|
114.7
|
|
(3
|
)%
|
|
(4.0
|
)%
|
|
1
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales and Marketing Solutions
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales Acceleration 1
|
|
|
|
$
|
8.5
|
|
$
|
4.8
|
|
80
|
%
|
|
(3.6
|
)%
|
|
84
|
%
|
|
$
|
13.3
|
|
$
|
9.0
|
|
49
|
%
|
|
(3.5
|
)%
|
|
52
|
%
|
|
|
Advanced Marketing Solutions 1
|
|
|
|
6.3
|
|
|
6.8
|
|
(7
|
)%
|
|
(7.3
|
)%
|
|
0
|
%
|
|
|
14.1
|
|
|
14.0
|
|
1
|
%
|
|
(9.0
|
)%
|
|
10
|
%
|
|
|
Total Non-Americas Sales and Marketing Solutions
|
|
|
14.8
|
|
|
11.6
|
|
29
|
%
|
|
(7.0
|
)%
|
|
36
|
%
|
|
|
27.4
|
|
|
23.0
|
|
20
|
%
|
|
(7.4
|
)%
|
|
27
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Non-Americas Revenue
|
|
|
|
$
|
72.1
|
|
$
|
69.7
|
|
3
|
%
|
|
(3.9
|
)%
|
|
7
|
%
|
|
$
|
139.1
|
|
$
|
137.7
|
|
1
|
%
|
|
(4.5
|
)%
|
|
6
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Corporation:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk Management Solutions
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade Credit
|
|
|
|
$
|
163.5
|
|
$
|
168.6
|
|
(3
|
)%
|
|
(1.4
|
)%
|
|
(2
|
)%
|
|
$
|
328.6
|
|
$
|
337.1
|
|
(3
|
)%
|
|
(1.3
|
)%
|
|
(1
|
)%
|
|
|
Other Enterprise Risk Management
|
|
|
|
77.1
|
|
|
73.5
|
|
5
|
%
|
|
0.2
|
%
|
|
5
|
%
|
|
|
148.4
|
|
|
139.4
|
|
6
|
%
|
|
0.0
|
%
|
|
6
|
%
|
|
|
Total Risk Management Solutions
|
|
|
|
240.6
|
|
|
242.1
|
|
(1
|
)%
|
|
(0.9
|
)%
|
|
0
|
%
|
|
|
477.0
|
|
|
476.5
|
|
0
|
%
|
|
(1.0
|
)%
|
|
1
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales and Marketing Solutions
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales Acceleration 1
|
|
|
|
$
|
74.6
|
|
$
|
65.2
|
|
14
|
%
|
|
(0.1
|
)%
|
|
14
|
%
|
|
$
|
148.7
|
|
$
|
131.8
|
|
13
|
%
|
|
(0.1
|
)%
|
|
13
|
%
|
|
|
Advanced Marketing Solutions 1
|
|
|
|
90.5
|
|
|
91.5
|
|
(1
|
)%
|
|
(0.6
|
)%
|
|
0
|
%
|
|
|
161.5
|
|
|
165.5
|
|
(2
|
)%
|
|
(0.6
|
)%
|
|
(2
|
)%
|
|
|
Total Sales and Marketing Solutions
|
|
|
|
165.1
|
|
|
156.7
|
|
5
|
%
|
|
(0.4
|
)%
|
|
6
|
%
|
|
|
310.2
|
|
|
297.3
|
|
4
|
%
|
|
(0.4
|
)%
|
|
5
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Revenue
|
|
|
|
$
|
405.7
|
|
$
|
398.8
|
|
2
|
%
|
|
(0.7
|
)%
|
|
2
|
%
|
|
$
|
787.2
|
|
$
|
773.8
|
|
2
|
%
|
|
(0.8
|
)%
|
|
2
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade Credit Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Americas:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
D&B Credit Suite
|
|
|
|
$
|
93.2
|
|
$
|
94.7
|
|
(1
|
)%
|
|
(0.2
|
)%
|
|
(1
|
)%
|
|
$
|
187.3
|
|
$
|
188.4
|
|
(1
|
)%
|
|
0.0
|
%
|
|
(1
|
)%
|
|
|
Other Trade Credit
|
|
|
|
|
28.8
|
|
|
31.7
|
|
(9
|
)%
|
|
(0.2
|
)%
|
|
(9
|
)%
|
|
|
58.9
|
|
|
66.3
|
|
(11
|
)%
|
|
0.0
|
%
|
|
(11
|
)%
|
|
Total Americas Trade Credit Revenue
|
|
|
|
122.0
|
|
|
126.4
|
|
(3
|
)%
|
|
(0.2
|
)%
|
|
(3
|
)%
|
|
|
246.2
|
|
|
254.7
|
|
(3
|
)%
|
|
0.0
|
%
|
|
(3
|
)%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-Americas:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
D&B Credit Suite
|
|
|
|
$
|
4.4
|
|
$
|
6.1
|
|
(28
|
)%
|
|
(4.6
|
)%
|
|
(24
|
)%
|
|
$
|
8.1
|
|
$
|
12.2
|
|
(33
|
)%
|
|
(4.8
|
)%
|
|
(29
|
)%
|
|
|
Other Trade Credit
|
|
|
|
|
37.1
|
|
|
36.1
|
|
3
|
%
|
|
(5.3
|
)%
|
|
8
|
%
|
|
|
74.3
|
|
|
70.2
|
|
6
|
%
|
|
(5.9
|
)%
|
|
12
|
%
|
|
Total Non-Americas Trade Credit Revenue
|
|
|
|
41.5
|
|
|
42.2
|
|
(2
|
)%
|
|
(5.3
|
)%
|
|
4
|
%
|
|
|
82.4
|
|
|
82.4
|
|
0
|
%
|
|
(5.9
|
)%
|
|
6
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Corporation:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
D&B Credit Suite
|
|
|
|
$
|
97.6
|
|
$
|
100.8
|
|
(3
|
)%
|
|
(0.5
|
)%
|
|
(3
|
)%
|
|
$
|
195.4
|
|
$
|
200.6
|
|
(3
|
)%
|
|
(0.4
|
)%
|
|
(2
|
)%
|
|
|
Other Trade Credit
|
|
|
|
|
65.9
|
|
|
67.8
|
|
(3
|
)%
|
|
(2.6
|
)%
|
|
0
|
%
|
|
|
133.2
|
|
|
136.5
|
|
(2
|
)%
|
|
(2.7
|
)%
|
|
0
|
%
|
|
Total Trade Credit Revenue
|
|
|
|
$
|
163.5
|
|
$
|
168.6
|
|
(3
|
)%
|
|
(1.4
|
)%
|
|
(2
|
)%
|
|
$
|
328.6
|
|
$
|
337.1
|
|
(3
|
)%
|
|
(1.3
|
)%
|
|
(1
|
)%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
D&B Hoovers Suite
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Americas
|
|
|
|
$
|
39.1
|
|
$
|
34.1
|
|
15
|
%
|
|
(0.1
|
)%
|
|
15
|
%
|
|
$
|
81.3
|
|
$
|
67.8
|
|
20
|
%
|
|
0.0
|
%
|
|
20
|
%
|
|
Non-Americas
|
|
|
|
|
4.2
|
|
|
0.7
|
|
N/M
|
|
|
N/M
|
|
|
N/M
|
|
|
|
6.6
|
|
|
1.6
|
|
N/M
|
|
|
N/M
|
|
|
N/M
|
|
|
Total Corporation
|
|
|
|
$
|
43.3
|
|
$
|
34.8
|
|
24
|
%
|
|
0.1
|
%
|
|
24
|
%
|
|
$
|
87.9
|
|
$
|
69.4
|
|
27
|
%
|
|
(0.1
|
)%
|
|
27
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1
|
|
Within Non-Americas, we have reclassified prior period amounts for
"Sales Acceleration" and "Advanced Marketing Solutions" to conform
to the current year presentation. Total Non-Americas Sales and
Marketing Solutions remains unchanged.
|
|
|
|
|
|
|
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
|
|
|
|
|
|
|
|
|
|
June 30,
|
|
AFX
|
|
Foreign
|
|
BFX
|
|
June 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
|
|
|
|
|
$
|
122.0
|
|
$
|
126.4
|
|
(4
|
)%
|
|
(0.2
|
)%
|
|
(3
|
)%
|
|
$
|
246.2
|
|
$
|
255.0
|
|
(3
|
)%
|
|
0.0
|
%
|
|
(3
|
)%
|
|
|
Other Enterprise Risk Management
|
|
|
|
|
61.3
|
|
|
58.0
|
|
6
|
%
|
|
0.0
|
%
|
|
6
|
%
|
|
|
119.1
|
|
|
109.3
|
|
9
|
%
|
|
0.0
|
%
|
|
9
|
%
|
|
|
Total Americas Risk Management Solutions
|
|
|
|
|
183.3
|
|
|
184.4
|
|
(1
|
)%
|
|
(0.1
|
)%
|
|
0
|
%
|
|
|
365.3
|
|
|
364.3
|
|
0
|
%
|
|
0.0
|
%
|
|
0
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales and Marketing Solutions
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales Acceleration
|
|
|
|
|
$
|
69.3
|
|
$
|
60.5
|
|
14
|
%
|
|
(0.1
|
)%
|
|
14
|
%
|
|
$
|
140.4
|
|
$
|
123.4
|
|
14
|
%
|
|
0.0
|
%
|
|
14
|
%
|
|
|
Advanced Marketing Solutions
|
|
|
|
|
84.2
|
|
|
84.7
|
|
(1
|
)%
|
|
0.0
|
%
|
|
(1
|
)%
|
|
|
147.4
|
|
|
151.5
|
|
(3
|
)%
|
|
0.0
|
%
|
|
(3
|
)%
|
|
|
Total Americas Sales and Marketing Solutions
|
|
|
|
|
153.5
|
|
|
145.2
|
|
6
|
%
|
|
0.0
|
%
|
|
6
|
%
|
|
|
287.8
|
|
|
274.9
|
|
5
|
%
|
|
0.0
|
%
|
|
5
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Americas Revenue
|
|
|
|
|
$
|
336.8
|
|
$
|
329.6
|
|
2
|
%
|
|
(0.1
|
)%
|
|
2
|
%
|
|
$
|
653.1
|
|
$
|
639.2
|
|
2
|
%
|
|
0.0
|
%
|
|
2
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-Americas:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk Management Solutions
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade Credit
|
|
|
|
|
$
|
41.5
|
|
$
|
42.2
|
|
(2
|
)%
|
|
(5.3
|
)%
|
|
4
|
%
|
|
$
|
82.4
|
|
$
|
82.4
|
|
0
|
%
|
|
(5.9
|
)%
|
|
6
|
%
|
|
|
Other Enterprise Risk Management
|
|
|
|
|
15.8
|
|
|
15.9
|
|
(1
|
)%
|
|
1.1
|
%
|
|
(2
|
)%
|
|
|
29.3
|
|
|
32.3
|
|
(9
|
)%
|
|
0.0
|
%
|
|
(9
|
)%
|
|
|
Total Non-Americas Risk Management Solutions
|
|
|
|
|
57.3
|
|
|
58.1
|
|
(2
|
)%
|
|
(3.4
|
)%
|
|
2
|
%
|
|
|
111.7
|
|
|
114.7
|
|
(3
|
)%
|
|
(4.0
|
)%
|
|
1
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales and Marketing Solutions
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales Acceleration 1
|
|
|
|
|
$
|
8.0
|
|
$
|
4.8
|
|
69
|
%
|
|
(3.9
|
)%
|
|
73
|
%
|
|
$
|
13.3
|
|
$
|
9.0
|
|
49
|
%
|
|
(3.8
|
)%
|
|
52
|
%
|
|
|
Advanced Marketing Solutions 1
|
|
|
|
|
6.3
|
|
|
6.8
|
|
(7
|
)%
|
|
(7.3
|
)%
|
|
0
|
%
|
|
|
14.1
|
|
|
14.0
|
|
1
|
%
|
|
(9.0
|
)%
|
|
10
|
%
|
|
|
Total Non-Americas Sales and Marketing Solutions
|
|
|
|
|
14.3
|
|
|
11.6
|
|
24
|
%
|
|
(7.0
|
)%
|
|
31
|
%
|
|
|
27.4
|
|
|
23.0
|
|
20
|
%
|
|
(7.6
|
)%
|
|
27
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Non-Americas Revenue
|
|
|
|
|
$
|
71.6
|
|
$
|
69.7
|
|
3
|
%
|
|
(3.9
|
)%
|
|
7
|
%
|
|
$
|
139.1
|
|
$
|
137.7
|
|
1
|
%
|
|
(4.5
|
)%
|
|
6
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Corporation:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk Management Solutions
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade Credit
|
|
|
|
|
$
|
163.5
|
|
$
|
168.6
|
|
(3
|
)%
|
|
(1.4
|
)%
|
|
(2
|
)%
|
|
$
|
328.6
|
|
$
|
337.4
|
|
(3
|
)%
|
|
(1.3
|
)%
|
|
(1
|
)%
|
|
|
Other Enterprise Risk Management
|
|
|
|
|
77.1
|
|
|
73.9
|
|
4
|
%
|
|
0.2
|
%
|
|
4
|
%
|
|
|
148.4
|
|
|
141.6
|
|
5
|
%
|
|
0.0
|
%
|
|
5
|
%
|
|
|
Total Risk Management Solutions
|
|
|
|
|
240.6
|
|
|
242.5
|
|
(1
|
)%
|
|
(0.9
|
)%
|
|
0
|
%
|
|
|
477.0
|
|
|
479.0
|
|
0
|
%
|
|
(0.9
|
)%
|
|
1
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales and Marketing Solutions
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales Acceleration 1
|
|
|
|
|
$
|
77.3
|
|
$
|
65.3
|
|
18
|
%
|
|
(0.2
|
)%
|
|
18
|
%
|
|
$
|
153.7
|
|
$
|
132.4
|
|
16
|
%
|
|
(0.2
|
)%
|
|
16
|
%
|
|
|
Advanced Marketing Solutions 1
|
|
|
|
|
90.5
|
|
|
91.5
|
|
(1
|
)%
|
|
(0.6
|
)%
|
|
0
|
%
|
|
|
161.5
|
|
|
165.5
|
|
(2
|
)%
|
|
(0.6
|
)%
|
|
(2
|
)%
|
|
|
Total Sales and Marketing Solutions
|
|
|
|
|
167.8
|
|
|
156.8
|
|
7
|
%
|
|
(0.4
|
)%
|
|
7
|
%
|
|
|
315.2
|
|
|
297.9
|
|
6
|
%
|
|
(0.5
|
)%
|
|
6
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Revenue
|
|
|
|
|
$
|
408.4
|
|
$
|
399.3
|
|
2
|
%
|
|
(0.7
|
)%
|
|
3
|
%
|
|
$
|
792.2
|
|
$
|
776.9
|
|
2
|
%
|
|
(0.8
|
)%
|
|
3
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade Credit Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Americas:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
D&B Credit Suite
|
|
|
|
|
$
|
93.2
|
|
$
|
94.7
|
|
(1
|
)%
|
|
(0.2
|
)%
|
|
(1
|
)%
|
|
$
|
187.3
|
|
$
|
188.5
|
|
(1
|
)%
|
|
0.0
|
%
|
|
(1
|
)%
|
|
|
Other Trade Credit
|
|
|
|
|
|
28.8
|
|
|
31.7
|
|
(10
|
)%
|
|
(0.2
|
)%
|
|
(9
|
)%
|
|
|
58.9
|
|
|
66.5
|
|
(12
|
)%
|
|
0.0
|
%
|
|
(12
|
)%
|
|
Total Americas Trade Credit Revenue
|
|
|
|
|
122.0
|
|
|
126.4
|
|
(4
|
)%
|
|
(0.2
|
)%
|
|
(3
|
)%
|
|
|
246.2
|
|
|
255.0
|
|
(3
|
)%
|
|
0.0
|
%
|
|
(3
|
)%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-Americas:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
D&B Credit Suite
|
|
|
|
|
$
|
4.4
|
|
$
|
6.1
|
|
(28
|
)%
|
|
(4.6
|
)%
|
|
(24
|
)%
|
|
$
|
8.1
|
|
$
|
12.2
|
|
(33
|
)%
|
|
(4.8
|
)%
|
|
(29
|
)%
|
|
|
Other Trade Credit
|
|
|
|
|
|
37.1
|
|
|
36.1
|
|
3
|
%
|
|
(5.3
|
)%
|
|
8
|
%
|
|
|
74.3
|
|
|
70.2
|
|
6
|
%
|
|
(5.9
|
)%
|
|
12
|
%
|
|
Total Non-Americas Trade Credit Revenue
|
|
|
|
|
41.5
|
|
|
42.2
|
|
(2
|
)%
|
|
(5.3
|
)%
|
|
4
|
%
|
|
|
82.4
|
|
|
82.4
|
|
0
|
%
|
|
(5.9
|
)%
|
|
6
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Corporation:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
D&B Credit Suite
|
|
|
|
|
$
|
97.6
|
|
$
|
100.8
|
|
(3
|
)%
|
|
(0.5
|
)%
|
|
(3
|
)%
|
|
$
|
195.4
|
|
$
|
200.7
|
|
(3
|
)%
|
|
(0.4
|
)%
|
|
(2
|
)%
|
|
|
Other Trade Credit
|
|
|
|
|
|
65.9
|
|
|
67.8
|
|
(3
|
)%
|
|
(2.6
|
)%
|
|
0
|
%
|
|
|
133.2
|
|
|
136.7
|
|
(3
|
)%
|
|
(2.7
|
)%
|
|
0
|
%
|
|
Total Trade Credit Revenue
|
|
|
|
|
$
|
163.5
|
|
$
|
168.6
|
|
(3
|
)%
|
|
(1.4
|
)%
|
|
(2
|
)%
|
|
$
|
328.6
|
|
$
|
337.4
|
|
(3
|
)%
|
|
(1.3
|
)%
|
|
(1
|
)%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
D&B Hoovers Suite
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Americas
|
|
|
|
|
$
|
42.3
|
|
$
|
34.1
|
|
24
|
%
|
|
(0.1
|
)%
|
|
24
|
%
|
|
$
|
86.3
|
|
$
|
67.8
|
|
27
|
%
|
|
0.0
|
%
|
|
27
|
%
|
|
Non-Americas
|
|
|
|
|
|
3.7
|
|
|
0.7
|
|
N/M
|
|
|
N/M
|
|
|
N/M
|
|
|
|
6.6
|
|
|
1.6
|
|
N/M
|
|
|
N/M
|
|
|
N/M
|
|
|
Total Corporation
|
|
|
|
|
$
|
46.0
|
|
$
|
34.8
|
|
32
|
%
|
|
(0.1
|
)%
|
|
32
|
%
|
|
$
|
92.9
|
|
$
|
69.4
|
|
34
|
%
|
|
(0.1
|
)%
|
|
34
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* As Adjusted includes the effect of divesting our operations in
Benelux and Latin America
|
|
|
|
|
Notes:
|
|
|
|
|
|
1
|
|
Within Non-Americas, we have reclassified prior period amounts for
"Sales Acceleration" and "Advanced Marketing Solutions" to conform
to the current year presentation. Total Non-Americas Sales and
Marketing Solutions remains unchanged.
|
|
|
|
|
|
|
|
|
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
|
|
|
|
|
|
|
|
|
June 30,
|
|
AFX
|
|
|
|
June 30,
|
|
AFX
|
|
|
|
|
|
|
|
|
|
|
% Change
|
|
|
|
|
|
|
|
% Change
|
|
Amounts in millions
|
|
|
|
|
2017
|
|
|
|
2016
|
|
|
Fav/(Unfav)
|
|
|
|
|
2017
|
|
|
|
2016
|
|
|
Fav/(Unfav)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Costs (GAAP):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Expenses
|
|
|
|
$
|
139.7
|
|
|
$
|
133.0
|
|
|
|
(5
|
)%
|
|
|
|
$
|
281.7
|
|
|
$
|
265.4
|
|
|
(6
|
)%
|
|
|
Selling and Administrative Expenses
|
|
|
|
|
162.7
|
|
|
|
196.1
|
|
|
|
17
|
%
|
|
|
|
|
333.4
|
|
|
|
359.4
|
|
|
7
|
%
|
|
|
Depreciation and Amortization
|
|
|
|
|
19.4
|
|
|
|
17.3
|
|
|
|
(12
|
)%
|
|
|
|
|
38.3
|
|
|
|
33.7
|
|
|
(14
|
)%
|
|
|
Restructuring Expense
|
|
|
|
|
7.5
|
|
|
|
5.9
|
|
|
|
(26
|
)%
|
|
|
|
|
16.5
|
|
|
|
15.6
|
|
|
(6
|
)%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Operating Costs (GAAP)
|
|
|
|
$
|
329.3
|
|
|
$
|
352.3
|
|
|
|
7
|
%
|
|
|
|
$
|
669.9
|
|
|
$
|
674.1
|
|
|
1
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital Expenditures (GAAP)
|
|
|
|
$
|
3.0
|
|
|
$
|
5.8
|
|
|
|
46
|
%
|
|
|
|
$
|
5.8
|
|
|
$
|
9.5
|
|
|
38
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Additions to Computer Software & Other Intangibles (GAAP)
|
|
|
|
$
|
14.8
|
|
|
$
|
11.5
|
|
|
|
(29
|
)%
|
|
|
|
$
|
27.5
|
|
|
$
|
23.4
|
|
|
(17
|
)%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Costs (As Adjusted):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Expenses
|
|
|
|
$
|
139.7
|
|
|
$
|
133.0
|
|
|
|
(5
|
)%
|
|
|
|
$
|
281.7
|
|
|
$
|
265.4
|
|
|
(6
|
)%
|
|
|
Selling and Administrative Expenses
|
|
|
|
|
167.1
|
|
|
|
168.1
|
|
|
|
1
|
%
|
|
|
|
|
330.5
|
|
|
|
329.4
|
|
|
0
|
%
|
|
|
Depreciation and Amortization
|
|
|
|
|
11.4
|
|
|
|
11.3
|
|
|
|
(1
|
)%
|
|
|
|
|
22.6
|
|
|
|
21.6
|
|
|
(5
|
)%
|
|
|
Restructuring Expense
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
N/M
|
|
|
|
|
|
-
|
|
|
|
-
|
|
|
N/M
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Operating Costs (As Adjusted)
|
|
|
|
$
|
318.2
|
|
|
$
|
312.4
|
|
|
|
(2
|
)%
|
|
|
|
$
|
634.8
|
|
|
$
|
616.4
|
|
|
(3
|
)%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended
|
|
|
|
|
|
Year-to-Date
|
|
|
|
|
|
|
|
|
June 30,
|
|
|
|
|
|
June 30,
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts in millions
|
|
|
|
|
2017
|
|
|
|
2016
|
|
|
|
|
|
|
|
2017
|
|
|
|
2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Expenses (GAAP):
|
|
|
|
$
|
139.7
|
|
|
$
|
133.0
|
|
|
|
|
|
|
$
|
281.7
|
|
|
$
|
265.4
|
|
|
|
|
|
None
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Expenses (As Adjusted)
|
|
|
|
$
|
139.7
|
|
|
$
|
133.0
|
|
|
|
|
|
|
$
|
281.7
|
|
|
$
|
265.4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling and Admin (GAAP)
|
|
|
|
$
|
162.7
|
|
|
$
|
196.1
|
|
|
|
|
|
|
$
|
333.4
|
|
|
$
|
359.4
|
|
|
|
|
|
Legal and Other Professional Fees and Shut-Down
(Costs) Recoveries Related to Matters In China
|
|
|
|
|
0.2
|
|
|
|
(0.6
|
)
|
|
|
|
|
|
|
(0.1
|
)
|
|
|
(1.2
|
)
|
|
|
|
|
Accrual for Legal Matters
|
|
|
|
|
8.0
|
|
|
|
(26.0
|
)
|
|
|
|
|
|
|
8.0
|
|
|
|
(26.0
|
)
|
|
|
|
|
Acquisition/Divestiture Related Costs
|
|
|
|
|
(3.8
|
)
|
|
|
(1.4
|
)
|
|
|
|
|
|
|
(10.8
|
)
|
|
|
(2.8
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling and Admin (As Adjusted)
|
|
|
|
$
|
167.1
|
|
|
$
|
168.1
|
|
|
|
|
|
|
$
|
330.5
|
|
|
$
|
329.4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and Amortization (GAAP)
|
|
|
|
$
|
19.4
|
|
|
$
|
17.3
|
|
|
|
|
|
|
$
|
38.3
|
|
|
$
|
33.7
|
|
|
|
|
|
Amortization of Acquisition Related Intangibles
|
|
|
|
|
(8.0
|
)
|
|
|
(6.0
|
)
|
|
|
|
|
|
|
(15.7
|
)
|
|
|
(12.1
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and Amortization (As Adjusted)
|
|
|
|
$
|
11.4
|
|
|
$
|
11.3
|
|
|
|
|
|
|
$
|
22.6
|
|
|
$
|
21.6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Restructuring (GAAP)
|
|
|
|
$
|
7.5
|
|
|
$
|
5.9
|
|
|
|
|
|
|
$
|
16.5
|
|
|
$
|
15.6
|
|
|
|
|
|
Restructuring
|
|
|
|
|
(7.5
|
)
|
|
|
(5.9
|
)
|
|
|
|
|
|
|
(16.5
|
)
|
|
|
(15.6
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Restructuring (As Adjusted)
|
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
|
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts in millions
|
|
|
|
Jun 30, 2017
|
|
Mar 31, 2017
|
|
Dec 31, 2016
|
|
Sep 30, 2016
|
|
Jun 30, 2016
|
|
Mar 31, 2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Debt Position:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and Cash Equivalents
|
|
|
|
$
|
400.2
|
|
|
$
|
375.4
|
|
|
$
|
352.6
|
|
|
$
|
327.3
|
|
|
$
|
379.1
|
|
|
$
|
365.7
|
|
|
|
|
|
Short-Term Debt
|
|
|
|
|
(27.5
|
)
|
|
|
(22.5
|
)
|
|
|
(22.5
|
)
|
|
|
(20.0
|
)
|
|
|
(20.0
|
)
|
|
|
(20.0
|
)
|
|
|
|
|
Long-Term Debt
|
|
|
|
|
(1,673.0
|
)
|
|
|
(1,684.7
|
)
|
|
|
(1,594.5
|
)
|
|
|
(1,586.4
|
)
|
|
|
(1,715.6
|
)
|
|
|
(1,725.4
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Debt
|
|
|
|
$
|
(1,300.3
|
)
|
|
$
|
(1,331.8
|
)
|
|
$
|
(1,264.4
|
)
|
|
$
|
(1,279.1
|
)
|
|
$
|
(1,356.5
|
)
|
|
$
|
(1,379.7
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year-to-Date
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts in millions
|
|
|
|
|
|
Jun 30, 2017
|
|
Jun 30, 2016
|
|
% Change Fav/
(Unfav)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Free Cash Flow:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Cash Provided By Operating Activities - Continuing Operations
(GAAP)
|
|
|
|
|
|
$
|
176.5
|
|
|
$
|
180.9
|
|
|
|
(2
|
)%
|
|
|
|
|
|
|
|
|
Less:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital Expenditures (GAAP)
|
|
|
|
|
|
|
5.8
|
|
|
|
9.5
|
|
|
|
38
|
%
|
|
|
|
|
|
|
|
|
Additions to Computer Software & Other Intangibles (GAAP)
|
|
|
|
|
|
|
27.5
|
|
|
|
23.4
|
|
|
|
(17
|
)%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Free Cash Flow
|
|
|
|
|
|
$
|
143.2
|
|
|
$
|
148.0
|
|
|
|
(3
|
)%
|
|
|
|
|
|
|
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
|
|
|
|
|
|
|
|
June 30,
|
|
|
|
June 30,
|
|
|
Amounts in millions
|
|
|
|
|
2017
|
|
|
|
2016
|
|
|
|
|
|
2017
|
|
|
|
2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Americas Total Revenue (GAAP) (Schedule 1)
|
|
|
|
$
|
333.6
|
|
|
$
|
329.1
|
|
|
|
|
$
|
648.1
|
|
|
$
|
636.1
|
|
|
|
|
Acquisition Related Deferred Revenue Fair Value Adjustment
|
|
|
|
(3.2
|
)
|
|
|
(0.5
|
)
|
|
|
|
|
(5.0
|
)
|
|
|
(3.1
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Americas Total Revenue (As Adjusted) (Schedule 2)
|
|
|
$
|
336.8
|
|
|
$
|
329.6
|
|
|
|
|
$
|
653.1
|
|
|
$
|
639.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(2
|
)
|
|
The following table reconciles Non-Americas Total Revenue included
in Schedule 1 and Schedule 2:
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended
|
|
|
|
Year-to-Date
|
|
|
|
|
|
|
|
June 30,
|
|
|
|
June 30,
|
|
|
Amounts in millions
|
|
|
|
|
2017
|
|
|
|
2016
|
|
|
|
|
|
2017
|
|
|
|
2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-Americas Total Revenue (GAAP) (Schedule 1)
|
|
|
$
|
72.1
|
|
|
$
|
69.7
|
|
|
|
|
$
|
139.1
|
|
|
$
|
137.7
|
|
|
|
|
Acquisition Related Deferred Revenue Fair Value Adjustment
|
|
|
|
0.5
|
|
|
|
-
|
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-Americas Total Revenue (As Adjusted) (Schedule 2)
|
|
|
$
|
71.6
|
|
|
$
|
69.7
|
|
|
|
|
$
|
139.1
|
|
|
$
|
137.7
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(3
|
)
|
|
The following table reconciles Total Revenue included in Schedule 1
and Schedule 2:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended
|
|
|
|
Year-to-Date
|
|
|
|
|
|
|
|
June 30,
|
|
|
|
June 30,
|
|
|
Amounts in millions
|
|
|
|
|
2017
|
|
|
|
2016
|
|
|
|
|
|
2017
|
|
|
|
2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Revenue (GAAP) (Schedule 1)
|
|
|
|
$
|
405.7
|
|
|
$
|
398.8
|
|
|
|
|
$
|
787.2
|
|
|
$
|
773.8
|
|
|
|
|
Acquisition Related Deferred Revenue Fair Value Adjustment
|
|
|
|
(2.7
|
)
|
|
|
(0.5
|
)
|
|
|
|
|
(5.0
|
)
|
|
|
(3.1
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Revenue (As Adjusted) (Schedule 2)
|
|
|
|
$
|
408.4
|
|
|
$
|
399.3
|
|
|
|
|
$
|
792.2
|
|
|
$
|
776.9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(4
|
)
|
|
The following table reconciles Americas Operating Income included in
Schedule 1 and Schedule 2:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended
|
|
|
|
Year-to-Date
|
|
|
|
|
|
|
|
June 30,
|
|
|
|
June 30,
|
|
|
Amounts in millions
|
|
|
|
|
2017
|
|
|
|
2016
|
|
|
|
|
|
2017
|
|
|
|
2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Americas Operating Income (GAAP) (Schedule 1)
|
|
|
$
|
77.1
|
|
|
$
|
83.7
|
|
|
|
|
$
|
133.8
|
|
|
$
|
153.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Acquisition/Divestiture Related Costs
|
|
|
|
|
(2.8
|
)
|
|
|
(0.6
|
)
|
|
|
|
|
(6.0
|
)
|
|
|
(2.0
|
)
|
|
|
|
Amortization of Acquisition Related Intangibles
|
|
|
|
(7.7
|
)
|
|
|
(6.0
|
)
|
|
|
|
|
(15.4
|
)
|
|
|
(12.1
|
)
|
|
|
|
Acquisition Related Deferred Revenue Fair Value Adjustment
|
|
|
|
(3.2
|
)
|
|
|
(0.5
|
)
|
|
|
|
|
(5.0
|
)
|
|
|
(3.1
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Americas Operating Income (As Adjusted) (Schedule 2)
|
|
|
$
|
90.8
|
|
|
$
|
90.8
|
|
|
|
|
$
|
160.2
|
|
|
$
|
170.5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(5
|
)
|
|
The following table reconciles Non-Americas Operating Income
included in Schedule 1 and Schedule 2:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended
|
|
|
|
Year-to-Date
|
|
|
|
|
|
|
|
June 30,
|
|
|
|
June 30,
|
|
|
Amounts in millions
|
|
|
|
|
2017
|
|
|
|
2016
|
|
|
|
|
|
2017
|
|
|
|
2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-Americas Operating Income (GAAP) (Schedule 1)
|
|
|
$
|
20.6
|
|
|
$
|
14.2
|
|
|
|
|
$
|
39.4
|
|
|
$
|
27.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Legal and Other Professional Fees and Shut-Down (Costs) Recoveries
Related to Matters In China
|
|
|
|
-
|
|
|
|
(0.1
|
)
|
|
|
|
|
-
|
|
|
|
(0.1
|
)
|
|
|
|
Acquisition/Divestiture Related Costs
|
|
|
|
|
(0.2
|
)
|
|
|
(0.2
|
)
|
|
|
|
|
(0.2
|
)
|
|
|
(0.2
|
)
|
|
|
|
Acquisition Related Deferred Revenue Fair Value Adjustment
|
|
|
|
0.5
|
|
|
|
-
|
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
|
Amortization of Acquisition Related Intangibles
|
|
|
|
(0.3
|
)
|
|
|
-
|
|
|
|
|
|
(0.3
|
)
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-Americas Operating Income (As Adjusted) (Schedule 2)
|
|
|
$
|
20.6
|
|
|
$
|
14.5
|
|
|
|
|
$
|
39.9
|
|
|
$
|
27.5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(6
|
)
|
|
The following table reconciles Corporate and Other expenses included
in Schedule 1 and Schedule 2:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended
|
|
|
|
Year-to-Date
|
|
|
|
|
|
|
|
June 30,
|
|
|
|
June 30,
|
|
|
Amounts in millions
|
|
|
|
|
2017
|
|
|
|
2016
|
|
|
|
|
|
2017
|
|
|
|
2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate and Other (GAAP) (Schedule 1)
|
|
|
|
$
|
(21.3
|
)
|
|
$
|
(51.4
|
)
|
|
|
|
$
|
(55.9
|
)
|
|
$
|
(80.8
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Restructuring Charges
|
|
|
|
|
(7.5
|
)
|
|
|
(5.9
|
)
|
|
|
|
|
(16.5
|
)
|
|
|
(15.6
|
)
|
|
|
|
Legal and Other Professional Fees and Shut-Down (Costs) Recoveries
Related to Matters In China
|
|
|
|
0.2
|
|
|
|
(0.5
|
)
|
|
|
|
|
(0.1
|
)
|
|
|
(1.1
|
)
|
|
|
|
Accrual for Legal Matters
|
|
|
|
|
8.0
|
|
|
|
(26.0
|
)
|
|
|
|
|
8.0
|
|
|
|
(26.0
|
)
|
|
|
|
Acquisition/Divestiture Related Costs
|
|
|
|
|
(0.8
|
)
|
|
|
(0.6
|
)
|
|
|
|
|
(4.6
|
)
|
|
|
(0.6
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate and Other (As Adjusted) (Schedule 2)
|
|
|
|
$
|
(21.2
|
)
|
|
$
|
(18.4
|
)
|
|
|
|
$
|
(42.7
|
)
|
|
$
|
(37.5
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(7
|
)
|
|
The following table reconciles Total Operating Income included in
Schedule 1 and Schedule 2:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended
|
|
|
|
Year-to-Date
|
|
|
|
|
|
|
|
June 30,
|
|
|
|
June 30,
|
|
|
Amounts in millions
|
|
|
|
|
2017
|
|
|
|
2016
|
|
|
|
|
|
2017
|
|
|
|
2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Operating Income (GAAP) Schedule 1)
|
|
|
|
$
|
76.4
|
|
|
$
|
46.5
|
|
|
|
|
$
|
117.3
|
|
|
$
|
99.7
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Restructuring Charges
|
|
|
|
|
(7.5
|
)
|
|
|
(5.9
|
)
|
|
|
|
|
(16.5
|
)
|
|
|
(15.6
|
)
|
|
|
|
Legal and Other Professional Fees and Shut-Down (Costs) Recoveries
Related to Matters In China
|
|
|
|
0.2
|
|
|
|
(0.6
|
)
|
|
|
|
|
(0.1
|
)
|
|
|
(1.2
|
)
|
|
|
|
Accrual for Legal Matters
|
|
|
|
|
8.0
|
|
|
|
(26.0
|
)
|
|
|
|
|
8.0
|
|
|
|
(26.0
|
)
|
|
|
|
Acquisition/Divestiture Related Costs
|
|
|
|
|
(3.8
|
)
|
|
|
(1.4
|
)
|
|
|
|
|
(10.8
|
)
|
|
|
(2.8
|
)
|
|
|
|
Amortization of Acquisition Related Intangibles
|
|
|
|
|
(8.0
|
)
|
|
|
(6.0
|
)
|
|
|
|
|
(15.7
|
)
|
|
|
(12.1
|
)
|
|
|
|
Acquisition Related Deferred Revenue Fair Value Adjustment
|
|
|
|
(2.7
|
)
|
|
|
(0.5
|
)
|
|
|
|
|
(5.0
|
)
|
|
|
(3.1
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Operating Income (As Adjusted) (Schedule 2)
|
|
|
$
|
90.2
|
|
|
$
|
86.9
|
|
|
|
|
$
|
157.4
|
|
|
$
|
160.5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(8
|
)
|
|
The following table reconciles Net Income Attributable to Dun &
Bradstreet included in Schedule 1 and Schedule 2:
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended
|
|
|
|
Year-to-Date
|
|
|
|
|
|
|
|
June 30,
|
|
|
|
June 30,
|
|
|
Amounts in millions
|
|
|
|
|
2017
|
|
|
|
2016
|
|
|
|
|
|
2017
|
|
|
|
2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income Attributable to Dun & Bradstreet (GAAP) (Schedule 1)
|
|
|
$
|
45.1
|
|
|
$
|
18.8
|
|
|
|
|
$
|
60.6
|
|
|
$
|
48.8
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Restructuring Charges
|
|
|
|
|
(4.7
|
)
|
|
|
(3.8
|
)
|
|
|
|
|
(10.7
|
)
|
|
|
(10.1
|
)
|
|
|
|
Legal and Other Professional Fees and Shut-Down (Costs) Recoveries
Related to Matters In China
|
|
|
|
0.2
|
|
|
|
(0.4
|
)
|
|
|
|
|
-
|
|
|
|
(0.8
|
)
|
|
|
|
Accrual for Legal Matters
|
|
|
|
|
7.9
|
|
|
|
(22.0
|
)
|
|
|
|
|
7.9
|
|
|
|
(22.0
|
)
|
|
|
|
Acquisition/Divestiture Related Costs
|
|
|
|
|
(3.4
|
)
|
|
|
(1.0
|
)
|
|
|
|
|
(8.9
|
)
|
|
|
(1.8
|
)
|
|
|
|
Amortization of Acquisition Related Intangibles
|
|
|
|
|
(5.0
|
)
|
|
|
(3.7
|
)
|
|
|
|
|
(10.0
|
)
|
|
|
(7.5
|
)
|
|
|
|
Acquisition Related Deferred Revenue Fair Value Adjustment
|
|
|
|
(1.8
|
)
|
|
|
(0.3
|
)
|
|
|
|
|
(3.4
|
)
|
|
|
(2.2
|
)
|
|
|
|
Gain (Loss) on Sale of Businesses
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
|
|
(0.6
|
)
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
After-Tax Impact
|
|
|
|
|
(6.8
|
)
|
|
|
(31.2
|
)
|
|
|
|
|
(25.7
|
)
|
|
|
(44.4
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (Loss) From Discontinued Operations, Net of Income Taxes
|
|
|
|
-
|
|
|
|
-
|
|
|
|
|
|
(0.8
|
)
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income Attributable to Dun & Bradstreet (As Adjusted) (Schedule
2)
|
|
|
$
|
51.9
|
|
|
$
|
50.0
|
|
|
|
|
$
|
87.1
|
|
|
$
|
93.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9
|
)
|
|
The following table reconciles Diluted Earnings Per Share Of Common
Stock included in Schedule 1 and Schedule 2:
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended
|
|
|
|
Year-to-Date
|
|
|
|
|
|
|
|
June 30,
|
|
|
|
June 30,
|
|
|
|
|
|
|
|
2017
|
|
|
|
2016
|
|
|
|
|
|
2017
|
|
|
|
2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted EPS Attributable to Dun & Bradstreet Common Shareholders
(GAAP) (Schedule 1)
|
|
|
$
|
1.22
|
|
|
$
|
0.51
|
|
|
|
|
$
|
1.63
|
|
|
$
|
1.34
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Restructuring Charges
|
|
|
|
|
($0.12
|
)
|
|
|
($0.11
|
)
|
|
|
|
|
($0.29
|
)
|
|
|
($0.28
|
)
|
|
|
|
Legal and Other Professional Fees and Shut-Down (Costs) Recoveries
Related to Matters In China
|
|
|
|
-
|
|
|
|
(0.01
|
)
|
|
|
|
|
-
|
|
|
|
(0.02
|
)
|
|
|
|
Accrual for Legal Matters
|
|
|
|
|
0.21
|
|
|
|
(0.60
|
)
|
|
|
|
|
0.21
|
|
|
|
(0.60
|
)
|
|
|
|
Acquisition/Divestiture Related Costs
|
|
|
|
|
(0.09
|
)
|
|
|
(0.03
|
)
|
|
|
|
|
(0.24
|
)
|
|
|
(0.05
|
)
|
|
|
|
Amortization of Acquisition Related Intangibles
|
|
|
|
|
(0.13
|
)
|
|
|
(0.10
|
)
|
|
|
|
|
(0.27
|
)
|
|
|
(0.20
|
)
|
|
|
|
Acquisition Related Deferred Revenue Fair Value Adjustment
|
|
|
|
(0.05
|
)
|
|
|
(0.01
|
)
|
|
|
|
|
(0.09
|
)
|
|
|
(0.06
|
)
|
|
|
|
Gain (Loss) on Sale of Businesses
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
|
|
(0.02
|
)
|
|
|
-
|
|
|
|
|
Discontinued Operations
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
|
|
(0.02
|
)
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted EPS Attributable to Dun & Bradstreet Common Shareholders (As
Adjusted) (Schedule 2)
|
|
|
$
|
1.40
|
|
|
$
|
1.37
|
|
|
|
|
$
|
2.35
|
|
|
$
|
2.55
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(10
|
)
|
|
The following table reconciles Other Income (Expense)-Net included
in Schedule 1 and Schedule 2:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended
|
|
|
|
Year-to-Date
|
|
|
|
|
|
|
|
June 30,
|
|
|
|
June 30,
|
|
|
Amounts in millions
|
|
|
|
|
2017
|
|
|
|
2016
|
|
|
|
|
|
2017
|
|
|
|
2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income (Expense)-Net (GAAP) (Schedule 1)
|
|
|
$
|
1.8
|
|
|
$
|
(0.5
|
)
|
|
|
|
$
|
-
|
|
|
$
|
0.3
|
|
|
|
|
Gain (Loss) on Sale of Businesses
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
|
|
(0.7
|
)
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income (Expense)-Net (As Adjusted) (Schedule 2)
|
|
|
$
|
1.8
|
|
|
$
|
(0.5
|
)
|
|
|
|
$
|
0.7
|
|
|
$
|
0.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(11
|
)
|
|
The following table reconciles Non-Operating Income (Expense)-Net
included in Schedule 1 and Schedule 2:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended
|
|
|
|
Year-to-Date
|
|
|
|
|
|
|
|
June 30,
|
|
|
|
June 30,
|
|
|
Amounts in millions
|
|
|
|
|
2017
|
|
|
|
2016
|
|
|
|
|
|
2017
|
|
|
|
2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-Operating Income (Expense) - Net (GAAP) (Schedule 1)
|
|
|
$
|
(12.9
|
)
|
|
$
|
(13.4
|
)
|
|
|
|
$
|
(28.9
|
)
|
|
$
|
(25.6
|
)
|
|
|
|
Gain (Loss) on Sale of Businesses
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
|
|
(0.7
|
)
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-Operating Income (Expense) - Net (As Adjusted) (Schedule 2)
|
|
|
$
|
(12.9
|
)
|
|
$
|
(13.4
|
)
|
|
|
|
$
|
(28.2
|
)
|
|
$
|
(25.6
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(12
|
)
|
|
The following table reconciles Provision for Income Taxes included
in Schedule 1 and Schedule 2:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended
|
|
|
|
Year-to-Date
|
|
|
|
|
|
|
|
June 30,
|
|
|
|
June 30,
|
|
|
Amounts in millions
|
|
|
|
|
2017
|
|
|
|
2016
|
|
|
|
|
|
2017
|
|
|
|
2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provision for Income Taxes (GAAP) (Schedule 1)
|
|
|
$
|
18.7
|
|
|
$
|
14.2
|
|
|
|
|
$
|
26.9
|
|
|
$
|
25.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Restructuring Charges
|
|
|
|
|
(2.8
|
)
|
|
|
(2.1
|
)
|
|
|
|
|
(5.8
|
)
|
|
|
(5.5
|
)
|
|
|
|
Legal and Other Professional Fees and Shut-Down (Costs) Recoveries
Related to Matters In China
|
|
|
|
-
|
|
|
|
(0.2
|
)
|
|
|
|
|
(0.1
|
)
|
|
|
(0.4
|
)
|
|
|
|
Accrual for Legal Matters
|
|
|
|
|
0.1
|
|
|
|
(4.0
|
)
|
|
|
|
|
0.1
|
|
|
|
(4.0
|
)
|
|
|
|
Acquisition/Divestiture Related Costs
|
|
|
|
|
(0.4
|
)
|
|
|
(0.4
|
)
|
|
|
|
|
(1.9
|
)
|
|
|
(1.0
|
)
|
|
|
|
Amortization of Acquisition Related Intangibles
|
|
|
|
|
(3.0
|
)
|
|
|
(2.3
|
)
|
|
|
|
|
(5.7
|
)
|
|
|
(4.6
|
)
|
|
|
|
Acquisition Related Deferred Revenue Fair Value Adjustment
|
|
|
|
(0.9
|
)
|
|
|
(0.2
|
)
|
|
|
|
|
(1.6
|
)
|
|
|
(0.9
|
)
|
|
|
|
Gain (Loss) on Sale of Businesses
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
|
|
(0.1
|
)
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provision for Income Taxes (As Adjusted) (Schedule 2)
|
|
|
$
|
25.7
|
|
|
$
|
23.4
|
|
|
|
|
$
|
42.0
|
|
|
$
|
41.6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The Dun & Bradstreet Corporation
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Schedule 6
|
Notes to Schedules 1, 2, 3, 4, and 5 (unaudited) and
Definitions of Non-GAAP Measures
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended June 30, 2017
|
|
Quarter Ended June 30, 2016
|
|
Amounts in millions
|
|
|
|
|
|
GAAP
(Sched 3)
|
|
Acquisition Related Deferred
Revenue
|
|
As Adjusted*
(Sched 4)
|
|
GAAP
(Sched 3)
|
|
Acquisition Related Deferred
Revenue
|
|
As Adjusted*
(Sched 4)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Geographic and Customer Solution Set Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Americas:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk Management Solutions
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade Credit
|
|
|
|
|
|
$
|
122.0
|
|
$
|
-
|
|
|
$
|
122.0
|
|
$
|
126.4
|
|
$
|
-
|
|
$
|
126.4
|
|
|
Other Enterprise Risk Management
|
|
|
|
|
|
61.3
|
|
|
-
|
|
|
|
61.3
|
|
|
57.6
|
|
|
0.4
|
|
|
58.0
|
|
|
Total Americas Risk Management Solutions
|
|
|
|
|
183.3
|
|
|
-
|
|
|
|
183.3
|
|
|
184.0
|
|
|
0.4
|
|
|
184.4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales and Marketing Solutions
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales Acceleration
|
|
|
|
|
|
$
|
66.1
|
|
$
|
3.2
|
|
|
$
|
69.3
|
|
$
|
60.4
|
|
$
|
0.1
|
|
$
|
60.5
|
|
|
Advanced Marketing Solutions
|
|
|
|
|
|
84.2
|
|
|
-
|
|
|
|
84.2
|
|
|
84.7
|
|
|
-
|
|
|
84.7
|
|
|
Total Americas Sales and Marketing Solutions
|
|
|
|
|
150.3
|
|
|
3.2
|
|
|
|
153.5
|
|
|
145.1
|
|
|
0.1
|
|
|
145.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Americas Revenue
|
|
|
|
|
|
$
|
333.6
|
|
$
|
3.2
|
|
|
$
|
336.8
|
|
$
|
329.1
|
|
$
|
0.5
|
|
$
|
329.6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-Americas:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk Management Solutions
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade Credit
|
|
|
|
|
|
$
|
41.5
|
|
$
|
-
|
|
|
$
|
41.5
|
|
$
|
42.2
|
|
$
|
-
|
|
$
|
42.2
|
|
|
Other Enterprise Risk Management
|
|
|
|
|
|
15.8
|
|
|
-
|
|
|
|
15.8
|
|
|
15.9
|
|
|
-
|
|
|
15.9
|
|
|
Total Non-Americas Risk Management Solutions
|
|
|
|
|
57.3
|
|
|
-
|
|
|
|
57.3
|
|
|
58.1
|
|
|
-
|
|
|
58.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales and Marketing Solutions
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales Acceleration
|
|
|
|
|
|
$
|
8.5
|
|
$
|
(0.5
|
)
|
|
$
|
8.0
|
|
$
|
4.8
|
|
$
|
-
|
|
$
|
4.8
|
|
|
Advanced Marketing Solutions
|
|
|
|
|
|
6.3
|
|
|
-
|
|
|
|
6.3
|
|
|
6.8
|
|
|
-
|
|
|
6.8
|
|
|
Total Non-Americas Sales and Marketing Solutions
|
|
|
|
|
14.8
|
|
|
(0.5
|
)
|
|
|
14.3
|
|
|
11.6
|
|
|
-
|
|
|
11.6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Non-Americas Revenue
|
|
|
|
|
$
|
72.1
|
|
$
|
(0.5
|
)
|
|
$
|
71.6
|
|
$
|
69.7
|
|
$
|
-
|
|
$
|
69.7
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Corporation:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk Management Solutions
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade Credit
|
|
|
|
|
|
$
|
163.5
|
|
$
|
-
|
|
|
$
|
163.5
|
|
$
|
168.6
|
|
$
|
-
|
|
$
|
168.6
|
|
|
Other Enterprise Risk Management
|
|
|
|
|
|
77.1
|
|
|
-
|
|
|
|
77.1
|
|
|
73.5
|
|
|
0.4
|
|
|
73.9
|
|
|
Total Risk Management Solutions
|
|
|
|
|
|
240.6
|
|
|
-
|
|
|
|
240.6
|
|
|
242.1
|
|
|
0.4
|
|
|
242.5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales and Marketing Solutions
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales Acceleration
|
|
|
|
|
|
$
|
74.6
|
|
$
|
2.7
|
|
|
$
|
77.3
|
|
$
|
65.2
|
|
$
|
0.1
|
|
$
|
65.3
|
|
|
Advanced Marketing Solutions
|
|
|
|
|
|
90.5
|
|
|
-
|
|
|
|
90.5
|
|
|
91.5
|
|
|
-
|
|
|
91.5
|
|
|
Total Sales and Marketing Solutions
|
|
|
|
|
|
165.1
|
|
|
2.7
|
|
|
|
167.8
|
|
|
156.7
|
|
|
0.1
|
|
|
156.8
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Revenue
|
|
|
|
|
|
$
|
405.7
|
|
$
|
2.7
|
|
|
$
|
408.4
|
|
$
|
398.8
|
|
$
|
0.5
|
|
$
|
399.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade Credit Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Americas:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
D&B Credit Suite
|
|
|
|
|
|
$
|
93.2
|
|
$
|
-
|
|
|
$
|
93.2
|
|
$
|
94.7
|
|
$
|
-
|
|
$
|
94.7
|
|
|
Other Trade Credit
|
|
|
|
|
|
|
28.8
|
|
|
-
|
|
|
|
28.8
|
|
|
31.7
|
|
|
-
|
|
|
31.7
|
|
Total Americas Trade Credit Revenue
|
|
|
|
|
|
122.0
|
|
|
-
|
|
|
|
122.0
|
|
|
126.4
|
|
|
-
|
|
|
126.4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-Americas:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
D&B Credit Suite
|
|
|
|
|
|
$
|
4.4
|
|
$
|
-
|
|
|
$
|
4.4
|
|
$
|
6.1
|
|
$
|
-
|
|
$
|
6.1
|
|
|
Other Trade Credit
|
|
|
|
|
|
|
37.1
|
|
|
-
|
|
|
|
37.1
|
|
|
36.1
|
|
|
-
|
|
|
36.1
|
|
Total Non-Americas Trade Credit Revenue
|
|
|
|
|
|
41.5
|
|
|
-
|
|
|
|
41.5
|
|
|
42.2
|
|
|
-
|
|
|
42.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Corporation:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
D&B Credit Suite
|
|
|
|
|
|
$
|
97.6
|
|
$
|
-
|
|
|
$
|
97.6
|
|
$
|
100.8
|
|
$
|
-
|
|
$
|
100.8
|
|
|
Other Trade Credit
|
|
|
|
|
|
|
65.9
|
|
|
-
|
|
|
|
65.9
|
|
|
67.8
|
|
|
-
|
|
|
67.8
|
|
Total Trade Credit Revenue
|
|
|
|
|
$
|
163.5
|
|
$
|
-
|
|
|
$
|
163.5
|
|
$
|
168.6
|
|
$
|
-
|
|
$
|
168.6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
D&B Hoovers Suite
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Americas
|
|
|
|
|
|
$
|
39.1
|
|
$
|
3.2
|
|
|
$
|
42.3
|
|
$
|
34.1
|
|
$
|
-
|
|
$
|
34.1
|
|
Non-Americas
|
|
|
|
|
|
|
4.2
|
|
|
(0.5
|
)
|
|
|
3.7
|
|
|
0.7
|
|
|
-
|
|
|
0.7
|
|
Total Corporation
|
|
|
|
|
|
$
|
43.3
|
|
$
|
2.7
|
|
|
$
|
46.0
|
|
$
|
34.8
|
|
$
|
-
|
|
$
|
34.8
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* As Adjusted includes the effect of divesting our operations in
Benelux and Latin America
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The Dun & Bradstreet Corporation
|
|
|
|
|
|
|
|
|
|
|
|
|
Schedule 6
|
Notes to Schedules 1, 2, 3, 4, and 5 (unaudited) and
Definitions of Non-GAAP Measures
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year-to-Date June 30, 2017
|
|
Year-to-Date June 30, 2016
|
|
Amounts in millions
|
|
|
|
GAAP
(Sched 3)
|
|
Acquisition Related Deferred
Revenue
|
|
As Adjusted*
(Sched 4)
|
|
GAAP
(Sched 3)
|
|
Acquisition Related Deferred
Revenue
|
|
As Adjusted*
(Sched 4)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Geographic and Customer Solution Set Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Americas:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk Management Solutions
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade Credit
|
|
|
|
$
|
246.2
|
|
$
|
-
|
|
$
|
246.2
|
|
$
|
254.7
|
|
$
|
0.3
|
|
$
|
255.0
|
|
|
Other Enterprise Risk Management
|
|
|
|
119.1
|
|
|
-
|
|
|
119.1
|
|
|
107.1
|
|
|
2.2
|
|
|
109.3
|
|
|
Total Americas Risk Management Solutions
|
|
|
365.3
|
|
|
-
|
|
|
365.3
|
|
|
361.8
|
|
|
2.5
|
|
|
364.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales and Marketing Solutions
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales Acceleration
|
|
|
|
$
|
135.4
|
|
$
|
5.0
|
|
$
|
140.4
|
|
$
|
122.8
|
|
$
|
0.6
|
|
$
|
123.4
|
|
|
Advanced Marketing Solutions
|
|
|
|
147.4
|
|
|
-
|
|
|
147.4
|
|
|
151.5
|
|
|
-
|
|
|
151.5
|
|
|
Total Americas Sales and Marketing Solutions
|
|
|
282.8
|
|
|
5.0
|
|
|
287.8
|
|
|
274.3
|
|
|
0.6
|
|
|
274.9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Americas Revenue
|
|
|
|
$
|
648.1
|
|
$
|
5.0
|
|
$
|
653.1
|
|
$
|
636.1
|
|
|
3.1
|
|
$
|
639.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-Americas:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk Management Solutions
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade Credit
|
|
|
|
$
|
82.4
|
|
$
|
-
|
|
$
|
82.4
|
|
$
|
82.4
|
|
$
|
-
|
|
$
|
82.4
|
|
|
Other Enterprise Risk Management
|
|
|
|
29.3
|
|
|
-
|
|
|
29.3
|
|
|
32.3
|
|
|
-
|
|
|
32.3
|
|
|
Total Non-Americas Risk Management Solutions
|
|
|
111.7
|
|
|
-
|
|
|
111.7
|
|
|
114.7
|
|
|
-
|
|
|
114.7
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales and Marketing Solutions
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales Acceleration
|
|
|
|
$
|
13.3
|
|
$
|
-
|
|
$
|
13.3
|
|
$
|
9.0
|
|
$
|
-
|
|
$
|
9.0
|
|
|
Advanced Marketing Solutions
|
|
|
|
14.1
|
|
|
-
|
|
|
14.1
|
|
|
14.0
|
|
|
-
|
|
|
14.0
|
|
|
Total Non-Americas Sales and Marketing Solutions
|
|
|
27.4
|
|
|
-
|
|
|
27.4
|
|
|
23.0
|
|
|
-
|
|
|
23.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Non-Americas Revenue
|
|
|
$
|
139.1
|
|
$
|
-
|
|
$
|
139.1
|
|
$
|
137.7
|
|
$
|
-
|
|
$
|
137.7
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Corporation:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk Management Solutions
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade Credit
|
|
|
|
$
|
328.6
|
|
$
|
-
|
|
$
|
328.6
|
|
$
|
337.1
|
|
$
|
0.3
|
|
$
|
337.4
|
|
|
Other Enterprise Risk Management
|
|
|
|
148.4
|
|
|
-
|
|
|
148.4
|
|
|
139.4
|
|
|
2.2
|
|
|
141.6
|
|
|
Total Risk Management Solutions
|
|
|
|
477.0
|
|
|
-
|
|
|
477.0
|
|
|
476.5
|
|
|
2.5
|
|
|
479.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales and Marketing Solutions
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales Acceleration
|
|
|
|
$
|
148.7
|
|
$
|
5.0
|
|
$
|
153.7
|
|
$
|
131.8
|
|
$
|
0.6
|
|
$
|
132.4
|
|
|
Advanced Marketing Solutions
|
|
|
|
161.5
|
|
|
-
|
|
|
161.5
|
|
|
165.5
|
|
|
-
|
|
|
165.5
|
|
|
Total Sales and Marketing Solutions
|
|
|
|
310.2
|
|
|
5.0
|
|
|
315.2
|
|
|
297.3
|
|
|
0.6
|
|
|
297.9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Revenue
|
|
|
|
$
|
787.2
|
|
$
|
5.0
|
|
$
|
792.2
|
|
$
|
773.8
|
|
|
3.1
|
|
$
|
776.9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade Credit Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Americas:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
D&B Credit Suite
|
|
|
|
$
|
187.3
|
|
$
|
-
|
|
$
|
187.3
|
|
$
|
188.4
|
|
$
|
0.1
|
|
$
|
188.5
|
|
|
Other Trade Credit
|
|
|
|
|
58.9
|
|
|
-
|
|
|
58.9
|
|
|
66.3
|
|
|
0.2
|
|
|
66.5
|
|
Total Americas Trade Credit Revenue
|
|
|
|
246.2
|
|
|
-
|
|
|
246.2
|
|
|
254.7
|
|
|
0.3
|
|
|
255.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-Americas:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
D&B Credit Suite
|
|
|
|
$
|
8.1
|
|
$
|
-
|
|
$
|
8.1
|
|
$
|
12.2
|
|
$
|
-
|
|
$
|
12.2
|
|
|
Other Trade Credit
|
|
|
|
|
74.3
|
|
|
-
|
|
|
74.3
|
|
|
70.2
|
|
|
-
|
|
|
70.2
|
|
Total Non-Americas Trade Credit Revenue
|
|
|
|
82.4
|
|
|
-
|
|
|
82.4
|
|
|
82.4
|
|
|
-
|
|
|
82.4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Corporation:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
D&B Credit Suite
|
|
|
|
$
|
195.4
|
|
$
|
-
|
|
$
|
195.4
|
|
$
|
200.6
|
|
$
|
0.1
|
|
$
|
200.7
|
|
|
Other Trade Credit
|
|
|
|
|
133.2
|
|
|
-
|
|
|
133.2
|
|
|
136.5
|
|
|
0.2
|
|
|
136.7
|
|
Total Trade Credit Revenue
|
|
|
$
|
328.6
|
|
$
|
-
|
|
$
|
328.6
|
|
$
|
337.1
|
|
$
|
0.3
|
|
$
|
337.4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
D&B Hoovers Suite
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Americas
|
|
|
|
$
|
81.3
|
|
$
|
5.0
|
|
$
|
86.3
|
|
$
|
67.8
|
|
$
|
-
|
|
$
|
67.8
|
|
Non-Americas
|
|
|
|
|
6.6
|
|
|
-
|
|
|
6.6
|
|
|
1.6
|
|
|
-
|
|
|
1.6
|
|
Total Corporation
|
|
|
|
$
|
87.9
|
|
$
|
5.0
|
|
$
|
92.9
|
|
$
|
69.4
|
|
$
|
-
|
|
$
|
69.4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* As Adjusted includes the effect of divesting our operations in
Benelux and Latin America
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The Dun & Bradstreet Corporation
|
|
|
|
|
|
|
|
|
|
|
|
|
Schedule 6
|
Notes to Schedules 1, 2, 3, 4, and 5 (unaudited) and
Definitions of Non-GAAP Measures
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
N/M - Not Meaningful
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following defines the non-GAAP measures used to evaluate
performance:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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. Management reviews operating
results on an "As Adjusted" basis on a monthly basis and
establishes internal budgets and forecasts based upon such
measures. Management further establishes annual and long-term
compensation such as salaries, target cash bonuses and target
equity compensation amounts based on performance on an "As
Adjusted" basis and a significant percentage weight is placed upon
performance on an "As Adjusted" basis in determining whether
performance objectives have been achieved. Management believes
that by reflecting these adjustments to our GAAP financial
measures, business leaders are provided incentives to recommend
and execute actions that support our long-term growth strategy
rather than being influenced by the potential impact one of these
items can have in a particular period on their compensation. The
Company adjusts for these items because they do not reflect the
Company's underlying business performance and they may have a
disproportionate positive or negative impact on the results of its
ongoing business operations. We believe that the use of our
non-GAAP financial measures provides useful supplemental
information to our investors.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 revenue 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 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, stock 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.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Free cash flow should not be considered as a substitute
measure for, or superior to, net cash flows provided by operating
activities, investing activities or financing activities.
Therefore, we believe it is important to view free cash flow as a
complement to the consolidated statements of cash flows.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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.
|
|
|
|
|
|
|
|
|
|
|
View source version on businesswire.com: http://www.businesswire.com/news/home/20170802006292/en/
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|