TransUnion Files 2023 Annual Report on Form 10-K

TL;DR

<b>TransUnion has filed its 2023 annual report (10-K) detailing its financial performance and business operations for the fiscal year ending December 31, 2023.</b>

AI Summary

TransUnion (TRU) filed a Annual Report (10-K) with the SEC on February 28, 2024. TransUnion filed its 2023 Form 10-K on February 28, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal business is Services-Consumer Credit Reporting, Collection Agencies (SIC 7320). TransUnion is incorporated in Delaware. The company's headquarters are located at 555 West Adams Street, Chicago, IL 60661.

Why It Matters

For investors and stakeholders tracking TransUnion, this filing contains several important signals. This 10-K filing provides a comprehensive overview of TransUnion's financial health, strategic initiatives, and risk factors for investors and stakeholders. Understanding the details within this report is crucial for assessing the company's performance in the consumer credit reporting and data services industry and its outlook for the upcoming fiscal year.

Risk Assessment

Risk Level: medium — TransUnion shows moderate risk based on this filing. The company operates in the highly regulated consumer credit reporting industry, which presents ongoing compliance and legal risks that could impact financial performance.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-K to assess TransUnion's performance and identify potential investment opportunities or concerns.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-02-28 — Filing Date (Date of submission)
• 7320 — SIC Code (Services-Consumer Credit Reporting, Collection Agencies)
• 001-37470 — SEC File Number (SEC registration)

Key Players & Entities

• TransUnion (company) — Filer name
• 555 West Adams Street (location) — Business address
• Chicago (location) — Business address city
• IL (location) — Business address state
• 60661 (location) — Business address zip
• DE (location) — State of incorporation
• 7320 (industry_code) — Standard Industrial Classification
• 2023-12-31 (date) — Fiscal year end

FAQ

Industry Context

TransUnion operates within the consumer credit reporting and data services industry, providing essential information for lending and risk management decisions.

Regulatory Implications

The company is subject to regulations such as the Fair Credit Reporting Act (FCRA) in the United States, which govern the collection, dissemination, and use of consumer credit information.

What Investors Should Do

1. Analyze TransUnion's revenue streams and growth drivers for 2023.
2. Evaluate the company's debt levels and liquidity position.
3. Review the identified risk factors and management's mitigation strategies.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-02-28: Filing Date — Date TransUnion submitted its 10-K filing.

Year-Over-Year Comparison

This filing is the annual report for the fiscal year ended December 31, 2023, and supersedes previous filings for earlier periods.

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share TRU New York Stock Exchange

Filing Documents

• tru-20231231.htm (10-K) — 3832KB
• transunion-amendmentno21ed.htm (EX-10.9) — 2685KB
• transunion-restrictedstock.htm (EX-10.29) — 52KB
• exhibit21subsidiarieslist2.htm (EX-21) — 89KB
• exhibit231-pwcconsent02242.htm (EX-23.1) — 2KB
• exhibit311ceocert20231231.htm (EX-31.1) — 8KB
• exhibit312cfocert20231231.htm (EX-31.2) — 8KB
• exhibit3220231231ceocfocert.htm (EX-32) — 5KB
• transunion-clawbackpolicye.htm (EX-97.1) — 42KB
• tru-20231231_g1.jpg (GRAPHIC) — 531KB
• 0001552033-24-000027.txt (&nbsp;) — 24886KB
• tru-20231231.xsd (EX-101.SCH) — 106KB
• tru-20231231_cal.xml (EX-101.CAL) — 169KB
• tru-20231231_def.xml (EX-101.DEF) — 768KB
• tru-20231231_lab.xml (EX-101.LAB) — 1446KB
• tru-20231231_pre.xml (EX-101.PRE) — 1134KB
• tru-20231231_htm.xml (XML) — 3365KB

RISK FACTORS

ITEM 1A. RISK FACTORS 20

UNRESOLVED STAFF COMMENTS

ITEM 1B. UNRESOLVED STAFF COMMENTS 39

CYBERSECURITY

ITEM 1C. CYBERSECURITY 39

PROPERTIES

ITEM 2. PROPERTIES 40

LEGAL PROCEEDINGS

ITEM 3. LEGAL PROCEEDINGS 40

MINE SAFETY DISCLOSURES

ITEM 4. MINE SAFETY DISCLOSURES 40 INFORMATION ABOUT OUR EXECUTIVE OFFICERS 41 PART II 44 ITEM 5. MARKET FOR THE REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 44

RESERVED

ITEM 6. RESERVED 45

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 46

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 77

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 79 Consolidated Balance Sheets 83 Consolidated Statements of Operations 84 Consolidated Statements of Comprehensive Income (Loss) 85 Consolidated Statements of Cash Flows 86 Consolidated Statements of Stockholders' Equity 87

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 90

CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 130

CONTROLS AND PROCEDURES

ITEM 9A. CONTROLS AND PROCEDURES 130

OTHER INFORMATION

ITEM 9B. OTHER INFORMATION 131

. DISCLOSURES REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS

ITEM 9C . DISCLOSURES REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 131 PART III 132

DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 132

EXECUTIVE COMPENSATION

ITEM 11. EXECUTIVE COMPENSATION 132

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 132

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 132

CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 132

PRINCIPAL ACCOUNT ING FEES AND SERVICES

ITEM 14. PRINCIPAL ACCOUNT ING FEES AND SERVICES 133 PART IV 134

EXHIBITS AND FINANCIAL STATEMENT SCHEDULES

ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 134

FORM 10-K SUMMARY 137

ITEM 16. FORM 10-K SUMMARY 137 Cautionary Notice Regarding Forward-Looking Statements This Annual Report on Form 10-K, including the exhibits hereto, contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of TransUnion's management and are subject to significant risks and uncertainties. Actual results may differ materially from those described in the forward-looking statements. Any statements made in this report that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements include information concerning possible or assumed future results of operations, including descriptions of our business plans and strategies. These statements often include words such as "anticipate," "expect," "guidance," "suggest," "plan," "believe," "intend," "estimate," "target," "project," "should," "could," "would," "may," "will," "forecast," "outlook," "potential," "continues," "seeks," "predicts," or the negatives of these words and other similar expressions. Factors that could cause actual results to differ materially from those described in the forward-looking statements, or that could materiall y affect our financial results or such forward-looking statements include: macroeconomic effects and changes in market conditions, including the impact of inflation, risk of recession, and industry trends and adverse developments in the debt, consumer credit and financial services markets, including the impact on the carrying value of our assets in all of the markets where we operate; 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 maint

BUSINESS

ITEM 1 BUSINESS Overview TransUnion is a leading global information and insights company that makes trust possible between businesses and consumers, helping people around the world access opportunities that can lead to a higher quality of life. That trust is built on TransUnion's ability to deliver safe, innovative solutions with credibility and consistency. We call this Information for Good. Grounded in our heritage as a credit reporting agency, we have built robust and accurate databases of information for a large portion of the adult population in the markets we serve. We use our identity resolution methodology to link and match our expanding high-quality datasets. We use these enriched data and analytics, combined with our expertise, to continuously develop more insightful solutions for our customers, all while maintaining compliance with global laws and regulations. Because of our work, organizations can better understand consumers in order to make more informed decisions, and earn consumer trust through great, personalized experiences, and the proactive extension of the right opportunities, tools and offers. In turn, we believe consumers can be confident that their data identities will result in better offers and opportunities. We provide solutions that enable businesses to manage and measure credit risk, market to new and existing customers, verify consumer identities, mitigate fraud, and effectively manage call center operations. Businesses embed our solutions into their process workflows to deliver critical insights and enable effective actions. Consumers use our solutions to view their credit profiles, access analytical tools that help them understand and manage their personal financial information, and take precautions against identity theft. We have deep domain expertise across a number of attractive industries, which we also refer to as verticals, including Financial Services and Emerging Verticals. Emerging Verticals consists of Technology, Commerc

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View this 10-K filing on SEC EDGAR