TransUnion Files 10-Q/A for Period Ending September 30, 2023

TL;DR

<b>TransUnion has filed an amended 10-Q for Q3 2023, detailing financial information as of September 30, 2023.</b>

AI Summary

TransUnion (TRU) filed a Amended Quarterly Report (10-Q/A) with the SEC on January 11, 2024. Filing type is 10-Q/A, submitted on January 11, 2024. Reporting period is Q3 2023, ending September 30, 2023. Company name is TransUnion, Central Index Key 0001552033. Incorporated in Delaware, fiscal year ends December 31. Business address is 555 West Adams Street, Chicago, IL 60661.

Why It Matters

For investors and stakeholders tracking TransUnion, this filing contains several important signals. This filing provides updated financial disclosures for TransUnion's third quarter of 2023, crucial for investors assessing the company's performance and financial health. As a 10-Q/A filing, it indicates potential amendments or corrections to previously submitted information, requiring careful review by stakeholders.

Risk Assessment

Risk Level: low — TransUnion shows low risk based on this filing. The filing is a routine 10-Q/A amendment, indicating no immediate high-risk events based on the provided metadata.

Analyst Insight

Review the full 10-Q/A filing for specific financial details and any disclosed amendments to understand TransUnion's Q3 2023 performance.

Key Numbers

• 20230930 — Reporting Period End Date (CONFORMED PERIOD OF REPORT)
• 20240111 — Filing Date (FILED AS OF DATE)
• 2023 — Fiscal Year (2023 Q3)

Key Players & Entities

• TransUnion (company) — COMPANY CONFORMED NAME
• 0001552033 (company) — CENTRAL INDEX KEY
• 7320 (industry_code) — STANDARD INDUSTRIAL CLASSIFICATION
• DE (location) — STATE OF INCORPORATION
• 1231 (date) — FISCAL YEAR END
• 10-Q/A (document_type) — FORM TYPE
• 001-37470 (filing_id) — SEC FILE NUMBER
• 555 WEST ADAMS STREET (address) — BUSINESS ADDRESS

Forward-Looking Statements

• TransUnion's stock price will likely see minor fluctuations as investors digest the clarified Q3 2023 financial data. (TransUnion) — medium confidence, target: 2024-01-18

FAQ

Industry Context

TransUnion operates in the consumer credit reporting and data analytics industry, providing essential services for credit risk management.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial reports to the SEC.

What Investors Should Do

1. Analyze the full 10-Q/A document for detailed financial statements and management discussion.
2. Compare the Q3 2023 results with previous periods to identify trends and performance changes.
3. Investigate any specific amendments or corrections noted in the 10-Q/A filing.

Key Dates

• 2023-09-30: End of Reporting Period — Marks the end of the fiscal quarter for which the 10-Q/A is filed.
• 2024-01-11: Filing Date — Date the 10-Q/A was officially filed with the SEC.

Year-Over-Year Comparison

This is an amended 10-Q filing (10-Q/A), indicating updates or corrections to previously submitted financial information for the period ending September 30, 2023.

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value TRU New York Stock Exchange
• $81.0 million — Statements involved an overstatement of $81.0 million to the non-cash goodwill impairment tha

Filing Documents

• tru-20230930.htm (10-Q/A) — 2209KB
• exhibit311ceocert20230930a.htm (EX-31) — 8KB
• exhibit312cfocert09302023-.htm (EX-31) — 8KB
• exhibit3209302023ceocfocer.htm (EX-32) — 5KB
• 0001552033-24-000009.txt (&nbsp;) — 10516KB
• tru-20230930.xsd (EX-101.SCH) — 52KB
• tru-20230930_cal.xml (EX-101.CAL) — 90KB
• tru-20230930_def.xml (EX-101.DEF) — 319KB
• tru-20230930_lab.xml (EX-101.LAB) — 724KB
• tru-20230930_pre.xml (EX-101.PRE) — 536KB
• tru-20230930_htm.xml (XML) — 1721KB

, Item 1, UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

Part I, Item 1, UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

, Item 2, MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Part I, Item 2, MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

, Item 4, CONTROLS AND PROCEDURES

Part I, Item 4, CONTROLS AND PROCEDURES

, Item 1A, RISK FACTORS

Part II, Item 1A, RISK FACTORS

, Item 6, EXHIBITS

Part II, Item 6, EXHIBITS As required by Rule 12b-15 under the Securities Exchange Act of 1934, as amended, currently dated certifications by the Company's Principal Executive Officer and Principal Financial Officer are filed as Exhibits 31.1, 31.2 and 32 to this Form 10-Q/A. In accordance with applicable SEC rules, this Form 10-Q/A also includes an updated signature page. Except as relating to the identified errors and the restatement described above, discussions within Part I, Item 2, "Management's Discussion and Analysis of Financial Condition and Results of Operations" and other forward-looking statements made in the Original Q3 2023 10-Q have not been revised in this Form 10-Q/A to reflect events that occurred at a later date or facts that subsequently became known to the Company and should be read in their historical context. Refer to Note 1 "Significant Accounting and Reporting Policies" and Note 5 "Goodwill" in the Notes to Unaudited Consolidated Financial Statements on this Form 10-Q/A for additional information including a summary of the impacts of these adjustments. Table of Contents TRANSUNION AMENDMENT NO. 1 TO QUARTERLY REPORT ON FORM 10-Q/A QUARTER ENDED SEPTEMBER 30, 2023 TABLE OF CONTENTS Page

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 5

UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

ITEM 1. UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS 5 Consolidated Balance Sheets (As Restated) 5 Consolidated Statements of Income (As Restated) 6 Consolidated Statements of Comprehensive Income (Loss) (As Restated) 7 Consolidated Statements of Cash Flows (As Restated) 8 Consolidated Statements of Stockholders' Equity (As Restated) 9 Notes to Unaudited Consolidated Financial Statements 11

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

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 31

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 53

CONTROLS AND PROCEDURES

ITEM 4. CONTROLS AND PROCEDURES 54

OTHER INFORMATION

PART II. OTHER INFORMATION 56

LEGAL PROCEEDINGS

ITEM 1. LEGAL PROCEEDINGS 56

RISK FACTORS

ITEM 1A. RISK FACTORS 56

UNREGISTERED SALES OF EQUITY SECURITIES, USE OF PROCEEDS , AND ISSUER PURCHASES OF EQUITY SECURITIES

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES, USE OF PROCEEDS , AND ISSUER PURCHASES OF EQUITY SECURITIES 57

OTHER INFORMATION 57

ITEM 5. OTHER INFORMATION 57

EXHIBITS

ITEM 6. EXHIBITS 58

SIGNATURES

SIGNATURES 59 4 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

ITEM 1. UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS TRANSUNION AND SUBSIDIARIES Consolidated Balance Sheets (Unaudited) (in millions, except per share data) (As Restated) September 30, 2023 December 31, 2022 Assets Current assets: Cash and cash equivalents $ 420.9 $ 585.3 Trade accounts receivable, net of allowance of $ 15.1 and $ 11.0 694.5 602.2 Other current assets 286.5 262.7 Total current assets 1,401.9 1,450.2 Property, plant and equipment, net of accumulated depreciation and amortization of $ 781.8 and $ 711.3 182.9 218.2 Goodwill 5,154.9 5,551.4 Other intangibles, net of accumulated amortization of $ 2,589.3 and $ 2,268.6 3,546.3 3,675.5 Other assets 809.7 771.0 Total assets $ 11,095.7 $ 11,666.3 Liabilities and stockholders' equity Current liabilities: Trade accounts payable $ 270.7 $ 250.4 Short-term debt and current portion of long-term debt 114.6 114.6 Other current liabilities 525.9 540.5 Total current liabilities 911.1 905.5 Long-term debt 5,253.9 5,555.5 Deferred taxes 666.2 762.0 Other liabilities 154.6 173.9 Total liabilities 6,985.8 7,396.9 Stockholders' equity: Common stock, $ 0.01 par value; 1.0 billion shares authorized at September 30, 2023 and December 31, 2022, 199.9 million and 198.7 million shares issued at September 30, 2023 and December 31, 2022, respectively, and 193.7 million shares and 192.7 million shares outstanding as of September 30, 2023 and December 31, 2022, respectively 2.0 2.0 Additional paid-in capital 2,386.6 2,290.3 Treasury stock at cost; 6.2 million and 6.0 million shares at September 30, 2023 and December 31, 2022, respectively ( 302.2 ) ( 284.5 ) Retained earnings 2,172.3 2,446.6 Accumulated other comprehensive loss ( 250.4 ) ( 284.5 ) Total TransUnion stockholders' equity 4,008.3 4,169.9 Noncontrolling interests 101.6 99.5 Total stockholders' equity 4,109.9 4,269.4 Total liabilities and stockholders' equity $ 11,095.7 $ 11,666.3 See accompanying notes to unaudited consolida

View Full Filing

View this 10-Q/A filing on SEC EDGAR