Purchase of noncontrolling interests

EQUIFAX INC.CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | Nine Months Ended September 30, |
|   |  | 2022 |  | 2021 |
|  |  | (In millions) |
| Operating activities: |  |   |  |   |
| Consolidated net income |  | $ | 591.1  |  |  | $ | 625.5  |  |
| Adjustments to reconcile consolidated net income to net cash provided by operating activities: |  |   |  |   |
|  |  |  |  |  |
| Depreciation and amortization |  | 424.1  |  |  | 354.9  |  |
| Stock-based compensation expense |  | 50.4  |  |  | 44.8  |  |
|  |  |  |  |  |
| Deferred income taxes |  | 47.9  |  |  | 12.6  |  |
| (Gain) loss on fair market value adjustment and gain on sale of equity investment |  | (20.2) |  |  | 0.1  |  |
| Gain on divestiture |  | —  |  |  | (0.2) |  |
| Changes in assets and liabilities, excluding effects of acquisitions: |  |  |  |   |
| Accounts receivable, net |  | (133.6) |  |  | (54.9) |  |
| Other assets, current and long-term |  | (32.0) |  |  | 5.1  |  |
| Current and long term liabilities, excluding debt |  | (496.0) |  |  | (38.4) |  |
| Cash provided by operating activities |  | 431.7  |  |  | 949.5  |  |
| Investing activities: |  |  |  |   |
| Capital expenditures |  | (468.4) |  |  | (332.9) |  |
| Acquisitions, net of cash acquired |  | (437.5) |  |  | (1,108.9) |  |
|  |  |  |  |  |
| Cash received from divestitures |  | 98.8  |  |  | 1.5  |  |
|  |  |  |  |  |
| Cash used in investing activities |  | (807.1) |  |  | (1,440.3) |  |
| Financing activities: |  |  |  |   |
| Net short-term (repayments) borrowings |  | (162.1) |  |  | 499.2  |  |
| Payments on long-term debt |  | —  |  |  | (1,100.2) |  |
| Borrowings on long-term debt |  | 749.3  |  |  | 1,697.3  |  |
| Treasury stock purchases |  | —  |  |  | (69.9) |  |
| Dividends paid to Equifax shareholders |  | (143.3) |  |  | (142.6) |  |
| Dividends paid to noncontrolling interests |  | (2.5) |  |  | (6.5) |  |
| Proceeds from exercise of stock options and employee stock purchase plan |  | 13.5  |  |  | 33.4  |  |
| Payment of taxes related to settlement of equity awards |  | (33.0) |  |  | (43.9) |  |
|  |  |  |  |  |
| Purchase of noncontrolling interests |  | —  |  |  | (11.2) |  |
| Debt issuance costs |  | (5.4) |  |  | (13.2) |  |
|  |  |  |  |  |
|  |  |  |  |  |
| Cash provided by financing activities |  | 416.5  |  |  | 842.4  |  |
| Effect of foreign currency exchange rates on cash and cash equivalents |  | (24.1) |  |  | (10.7) |  |
| Decrease in cash and cash equivalents |  | 17.0  |  |  | 340.9  |  |
| Cash and cash equivalents, beginning of period |  | 224.7  |  |  | 1,684.6  |  |
| Cash and cash equivalents, end of period |  | $ | 241.7  |  |  | $ | 2,025.5  |  |

 See Notes to Consolidated Financial Statements.8
