We remain acutely focused on the welfare of our associates and communities while also providing outstanding service and solutions for our customers around the world., We continue to invest in Global Operations, Global Solutions and Project Rise to drive further growth and efficiencies in our business. Net income attributable to TransUnion was $102 million for the quarter, compared with $83 million for the fourth quarter of 2019. Diluted earnings per share is expected to be between $0.48 and $0.51, an increase of 31 to 39 percent. Many of these factors are beyond our control. TransUnion engages in the provision of information and risk management solutions. Golden Gate Capital is a San Francisco-based private equity investment firm with over $19 billion in cumulative committed capital. TransUnion is a global information and insights company that makes trust possible in the modern economy. Business combination accounting rules require us to record deferred revenue of acquired entities at fair value if we are obligated to perform any future services under these contracts. We present Adjusted EBITDA and Adjusted Net Income as supplemental measures of our operating performance because these measures eliminate the impact of certain items that we do not consider indicative of our cash operations and ongoing operating performance. As a result, businesses and consumers can transact with confidence and achieve great things. A company that has been tracking tech company layoffs since 2020 says more than 1,600 workers in the industry have been laid off a day in 2023, on average. For the three months ended December 31, 2020, consisted of the following adjustments: a $(1.9) million gain from currency remeasurement of our foreign operations; a $(0.4) million recovery from the Fraud Incident (as defined in our Annual Report on Form 10-K for the year ended December 31, 2019), net of additional administrative expenses; and $0.9 million of deferred loan fees written off as a result of the prepayments on our debt.For the twelve months ended December 31, 2020, consisted of the following adjustments: $34.7 million for certain legal expenses; $0.9 million of deferred loan fees written off as a result of the prepayments on our debt; $0.2 million loss from currency remeasurement of our foreign operations; $0.2 million of fees related to our new swap agreements; a $(1.5) million recovery from the Fraud Incident, net of additional administrative expense; and $(0.4) million reimbursement of fees associated with the refinancing of our Senior Secured Credit Facility.For the three months ended December 31, 2019, consisted of the following adjustments: $13.0 million of fees related to the refinancing of our Senior Secured Credit Facility; $1.2 million of administrative expenses associated with the Fraud Incident offset by the $(0.3) million portion that is attributable to the non-controlling interest; $0.5 million of deferred loan fees written off as a result of the prepayments on our debt; a $(1.7) million gain from currency remeasurement; and a $(0.7) million reduction to expense for certain legal and regulatory matters.For the twelve months ended December 31, 2019, consisted of the following adjustments: $20.8 million of expenses (including $3.0 million of administrative expenses) associated with the Fraud Incident offset by the $(7.3) million portion that is attributable to the non-controlling interest; $13.0 million of fees related to the refinancing of our Senior Secured Credit Facility; $2.0 million of deferred loan fees written off as a result of the prepayments on our debt; a $0.1 million loss from currency remeasurement; and a $(0.7) million reduction to expense for certain legal and regulatory matters. Dispute an item on your TransUnion credit report by mail. A leading presence in more than 30 countries across five continents, TransUnion provides solutions that help create economic opportunity, great experiences and personal empowerment for hundreds of millions of people. Like TransUnion, Neustar has built its brand and reputation on fostering trusted connections between consumers and businesses to help them transact with greater confidence. In conjunction with this release, TransUnion will host a conference call and webcast today at 8:30 a.m. Central Time to discuss the business results for the quarter and certain forward-looking information. Total adjustments before income tax items from schedule 3, Noncontrolling interest portion of Adjusted Net Income adjustments, Eliminate impact of excess tax benefits for share compensation. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are presented in the attached Schedules. We will also remain disciplined in managing our cost structure and investment priorities as we adapt to the changing macro-economic landscape and the impact it is having on our businesses throughout the markets we serve. -, North American Morning Briefing: Investors Return -3-, Wells Fargo Upgrades TransUnion to Overweight From Equalweight, Price Target is $88, TransUnion Announces Earnings Release Date for Fourth Quarter 2022 Results. Marketing Offers Opt-Out Learn how to remove your name from prescreen mailing lists obtained from the major credit card reporting companies. Acquisition revenue - related adjustments. For the nine months ended September 30, 2020, cash provided by continuing operations was $558 million compared with $588 million in 2019. Adjustments to reconcile net income to net cash provided by operating activities: Net loss/(gain) on investments in affiliated companies and assets-held-for sale, Net (earnings)/dividends, from equity method investments, Amortization of discount and deferred financing fees, Provision for losses on trade accounts receivable, Cash used in operating activities of discontinued operations, Proceeds from sale/maturity of other investments, Acquisitions and purchases of noncontrolling interests, net of cash acquired, Proceeds from disposals of assets held for sale, Cash used in investing activities of discontinued operations, Proceeds from issuance of common stock and exercise of stock options, Distributions to noncontrolling interests, Employee taxes paid on restricted stock units recorded as treasury stock, Effect of exchange rate changes on cash and cash equivalents, Cash and cash equivalents, beginning of period, For the Three Months Ended September 30, 2020 compared with the Three Months Ended September 30, 2019, For the Nine Months Ended September 30, 2020 compared with the Nine Months Ended September 30, 2019. Cash used in investing activities was $154 million compared with $155 million in 2019. Many of these factors are beyond our control. and RBC Capital Markets who acted as joint arrangers for TransUnion. Canada revenue was $28 million, an increase of 2 percent (3 percent on a constant currency basis) compared with the third quarter of 2019. Factors that could cause actual results to differ materially from those described in the forward-looking statements include; the effects of the COVID-19 pandemic; the timing of the recovery from the COVID-19 pandemic; macroeconomic and industry trends and adverse developments in the debt, consumer credit and financial services markets; our ability to provide competitive services and prices; our ability to retain or renew existing agreements with large or long-term customers; our ability to maintain the security and integrity of our data; our ability to deliver services timely without interruption; our ability to maintain our access to data sources; government regulation and changes in the regulatory environment; litigation or regulatory proceedings; regulatory oversight of critical activities; our ability to effectively manage our costs; economic and political stability in the United States and international markets where we operate; our ability to effectively develop and maintain strategic alliances and joint ventures; our ability to timely develop new services and the markets willingness to adopt our new services; our ability to manage and expand our operations and keep up with rapidly changing technologies; our ability to make acquisitions, successfully integrate the operations of acquired businesses and realize the intended benefits of such acquisitions; our ability to protect and enforce our intellectual property, trade secrets and other forms of unpatented intellectual property; our ability to defend our intellectual property from infringement claims by third parties; the ability of our outside service providers and key vendors to fulfill their obligations to us; further consolidation in our end-customer markets; the increased availability of free or inexpensive consumer information; losses against which we do not insure; our ability to make timely payments of principal and interest on our indebtedness; our ability to satisfy covenants in the agreements governing our indebtedness; our ability to maintain our liquidity; share repurchase plans; our reliance on key management personnel; and other one-time events and other factors that can be found in our Annual Report on Form 10-K for the year ended December 31, 2019, and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K, which are filed with the Securities and Exchange Commission and are available on TransUnions website (www.transunion.com/tru) and on the Securities and Exchange Commissions website (www.sec.gov). At the same time, we recently made strategic moves to build out our Media vertical through the acquisitions of Signal in the third quarter and Tru Optik early in the fourth quarter.. GAAP Outlook: For 2021, revenue is expected to be between $2.817 billion and $2.877 billion, an increase of 4 to 6 percent compared with 2020. The above definitions apply to our calculations for the periods shown on Schedules 1 through 6. ET Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: We call this Information for Good. Net income attributable to TransUnion was $343 million for the year, compared with $347 million for 2019. Net income attributable to TransUnion is expected to be between $372 million and $402 million, an increase of 8 to 17 percent. Our guidance is based on a number of assumptions that are subject to change, many of which are outside of the control of the Company. We look forward to beginning a smooth integration of the two businesses, said Chris Cartwright, President and CEO, TransUnion. Adjusted Diluted Earnings per Share is expected to be between $3.16 and $3.31, an increase of 5 to 10 percent. The increase in cash used in investing activities was due primarily to proceeds from the disposal of discontinued operations in 2019 that did not recur in 2020, an increase in cash used for acquisitions and an increase in capital expenditures, partially offset by an increase in proceeds from the sale of investments in 2020. As a result of displaying amounts in millions, rounding differences may exist in the tables above and footnotes below. Many of these factors are beyond our control. The forward-looking statements contained in this earnings release speak only as of the date of this earnings release. Boston home security company SimpliSafe is shutting down its Taunton warehouse and laying off its 58 employees. Segment Adjusted EBITDA margins are calculated using segment gross Adjusted Revenue and segment Adjusted EBITDA. United Kingdom revenue was $51 million, an increase of 1 percent (a decrease of 1 percent on a constant currency basis). 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Capital expenditures were $132 million in both periods.
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