Broadridge Financial Solutions Files 2024 10-K

Ticker: BR · Form: 10-K · Filed: 2024-08-06T00:00:00.000Z

Sentiment: neutral

Topics: 10-K, annual-report, financials

TL;DR

BR's 2024 10-K is in. Full year financials out.

AI Summary

Broadridge Financial Solutions, Inc. filed its 2024 10-K report, detailing its fiscal year ending June 30, 2024. The company, headquartered in Lake Success, NY, operates in the business services sector. Key financial data and operational details are presented in this comprehensive annual filing.

Why It Matters

This filing provides investors and stakeholders with a detailed overview of Broadridge's financial performance and strategic positioning for the fiscal year 2024.

Risk Assessment

Risk Level: low — This is a standard annual financial filing with no immediate red flags.

Key Numbers

Key Players & Entities

FAQ

What was Broadridge's total revenue for the fiscal year ending June 30, 2024?

The provided snippet does not contain specific revenue figures for the fiscal year ending June 30, 2024. A full review of the 10-K document is required to ascertain this information.

What is Broadridge's primary business segment?

Broadridge Financial Solutions, Inc. operates within the Services-Business Services, NEC [7389] industry, as indicated by its Standard Industrial Classification code.

Where is Broadridge Financial Solutions, Inc. headquartered?

The company's business and mail address is listed as 5 Dakota Drive, Lake Success, NY 11042.

What is the SEC file number for Broadridge Financial Solutions?

The SEC file number for Broadridge Financial Solutions is 001-33220.

When was Broadridge Financial Solutions, Inc. incorporated?

The state of incorporation for Broadridge Financial Solutions, Inc. is Delaware (DE).

Filing Stats: 4,222 words · 17 min read · ~14 pages · Grade level 16.6 · Accepted 2024-08-06 10:22:53

Key Financial Figures

Filing Documents

Business

ITEM 1. Business 4

Risk Factors

ITEM 1A. Risk Factors 18

Unresolved Staff Comments

ITEM 1B. Unresolved Staff Comments 26

Cybersecurity

ITEM 1C. Cybersecurity 26

Properties

ITEM 2. Properties 27

Legal Proceedings

ITEM 3. Legal Proceedings 27

Mine Safety Disclosures

ITEM 4. Mine Safety Disclosures 28 PART II. 29

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

ITEM 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 29

Reserved

ITEM 6. Reserved 31

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 31

Quantitative and Qualitative Disclosures About Market Risk

ITEM 7A. Quantitative and Qualitative Disclosures About Market Risk 52

Financial Statements and Supplementary Data

ITEM 8. Financial Statements and Supplementary Data 54

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

ITEM 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 98

Controls and Procedures

ITEM 9A. Controls and Procedures 98

Other Information

ITEM 9B. Other Information 99

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

ITEM 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 99 PART III. 100

Directors, Executive Officers and Corporate Governance

ITEM 10. Directors, Executive Officers and Corporate Governance 100

Executive Compensation

ITEM 11. Executive Compensation 100

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

ITEM 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 100

Certain Relationships and Related Transactions, and Director Independence

ITEM 13. Certain Relationships and Related Transactions, and Director Independence 100

Principal Accounting Fees and Services

ITEM 14. Principal Accounting Fees and Services 100 PART IV. 101

Exhibits, Financial Statement Schedules

ITEM 15. Exhibits, Financial Statement Schedules 101

Form 10-K Summary

ITEM 16. Form 10-K Summary 101

Signatures

Signatures 101 2 PART I.

Forward-Looking Statements

Forward-Looking Statements This Annual Report on Form 10-K of Broadridge Financial Solutions, Inc. ("Broadridge" or the "Company") may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not historical in nature and which may be identified by the use of words such as "expects," "assumes," "projects," "anticipates," "estimates," "we believe," "could be," "on track," and other words of similar meaning, are forward-looking statements. In particular, information appearing under "Business," "Risk Factors," and "Management's Discussion and Analysis of Financial Condition and Results of Operations" includes forward-looking statements. These statements are based on management's expectations and assumptions and are subject to risks and uncertainties that may cause actual results to differ materially from those expressed. Factors that could cause actual results to differ materially from those contemplated by the forward-looking statements include: changes in laws and regulations affecting Broadridge's clients or the services provided by Broadridge; Broadridge's reliance on a relatively small number of clients, the continued financial health of those clients, and the continued use by such clients of Broadridge's services with favorable pricing terms; a material security breach or cybersecurity attack affecting the information of Broadridge's clients; declines in participation and activity in the securities markets; the failure of Broadridge's key service providers to provide the anticipated levels of service; a disaster or other significant slowdown or failure of Broadridge's systems or error in the performance of Broadridge's services; overall market, economic and geopolitical conditions and their impact on the securities markets; the success of Broadridge in retaining and selling additional services to its existing clients and in obtaining new clients; Broadridge's failure to keep pace

Business

ITEM 1. Business The Broadridge Business Broadridge, a Delaware corporation and a part of the S&P 500 Index ("S&P"), is a global financial technology leader powering investing, corporate governance, and communications. We deliver technology-driven solutions to banks, broker-dealers, asset and wealth managers, public companies, investors, and mutual funds, that enable our clients to operate, innovate and grow. Our trusted expertise and transformative technology provide the infrastructure and data to help improve our clients' business performance and operational efficiency and modernize the investor experience. We operate our business in two reportable segments: Investor Communication Solutions and Global Technology and Operations. Investor Communication Solutions Our Regulatory Solutions, Data-Driven Fund Solutions, Corporate Issuer Solutions, and Customer Communications Solutions are provided as part of the Investor Communication Solutions segment. The Investor Communication Solutions segment is the larger of our two business segments and its revenues represented approximately 75% and 75% of our total Revenues in fiscal years 2024 and 2023, respectively, including the foreign exchange impact from revenues generated in currencies other than the United States of America ("U.S.") dollar. See "Analysis of Reportable Segments — Revenues" under "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations." We provide the following services and solutions through our Investor Communication Solutions segment: Regulatory Solutions We handle the entire proxy materials distribution and voting process for our bank, broker-dealer, corporate issuer and fund clients. We offer electronic and traditional hard copy services for the delivery of proxy materials to investors and collection of consents; maintenance of a rules engine and database that contains the delivery method preferences of our clients' customers; posting of documents on their w

View on Read The Filing