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Eleven-Year Financial Trends
(dollars in millions, except per share data)
Click for notes
Please refer to EBITDA Reconciliation Table
Notes for Eleven-Year Financial Trends:
| Certain prior year amounts have been reclassified for comparability purposes | |
| (a) | During 2006, the Sweets building products database transitioned from a primarily print catalog offering to an integrated online service. In 2006, revenue and operating profit of $23.8 million and $21.1 million ($13.3 million after-tax, or $0.04 per diluted share), respectively, of the bundled product were deferred and recognized ratably over the service period, primarily 2007 |
| (b) | In 2004, all revenue in prior periods was reclassified in accordance with Emerging Issues Task Force Issue 00-10, “Accounting for Shipping and Handling Fees and Costs,” resulting in an increase in revenue in all years presented |
| (c) | 2008: Includes a $73.4 million pre-tax restructuring charge ($45.9 million after-tax, or $0.14 per diluted share) |
| The Corporation adopted Statement of Financial Accounting Standards No. 160, “Noncontrolling interests in Consolidated Financial Statements, an amendment of ARB 51” (SFAS 160), in the first quarter of 2009. Please refer to 2008 Operating Profit/(Loss) and Operating Profit Margin by Segment, as adjusted for SFAS 160 | |
| (d) | 2007: Includes a $43.7 million pre-tax restructuring charge ($27.3 million after-tax, or $0.08 per diluted share) and a $17.3 million pre-tax gain ($10.3 million after-tax, or $0.03 per diluted share) on the sale of the Corporation’s mutual fund data business |
| (e) | 2006: Includes a $31.5 million pre-tax restructuring charge ($19.8 million after-tax, or $0.06 per diluted share). In 2006, the Corporation adopted Financial Accounting Standards Board Statement No. 123(R), “Share Based Payment.” The Corporation incurred stock-based compensation expense of $136.2 million ($85.5 million after-tax, or $0.23 per diluted share). Included in this expense is a one-time charge for the elimination of the Corporation’s restoration stock option program of $23.8 million ($14.9 million after-tax, or $0.04 per diluted share) |
| (f) | 2005: Includes a $6.8 million pre-tax gain ($4.2 million after-tax, or $0.01 per diluted share) on the sale of the Corporate Value Consulting business, a $5.5 million loss ($3.3 million after-tax) on the sale of the Healthcare Information Group, and a $23.2 million pre-tax restructuring charge ($14.6 million after-tax, or $0.04 per diluted share). Net income includes a $10.0 million ($0.03 per diluted share) increase in income taxes on the repatriation of funds |
| (g) | 2004: Includes a non-cash benefit of approximately $20.0 million ($0.05 per diluted share) as a result of the Corporation’s completion of various federal, state and local, and foreign tax audit cycles. In the first quarter of 2004, the Corporation accordingly removed approximately $20.0 million from its accrued income tax liability accounts. This non-cash item resulted in a reduction to the overall effective tax rate from continuing operations to 35.3% |
| (h) | 2003: Includes a $131.3 million pre-tax gain ($58.4 million after-tax, or $0.15 per diluted share) on the sale of real estate |
| (i) | 2002: Includes a $14.5 million pre-tax loss ($2.0 million after-tax benefit, or $0.01 per diluted share) on the disposition of MMS International |
| (j) | 2001: Includes impact of the following items: a $159.0 million pre-tax charge ($112.0 million after-tax, or $0.29 per diluted share) for restructuring and asset write-down, a $6.9 million pre-tax gain ($0.01 per diluted share) on the sale of real estate, an $8.8 million pre-tax gain ($26.3 million after-tax, or $0.07 per diluted share) on the sale of DRI, and a $22.8 million pre-tax charge ($21.9 million after-tax, or $0.06 per diluted share) for the write-down of certain assets, the shutdown of Blue List and the contribution of Rational Investors |
| (k) | 2000: Includes a $16.6 million gain ($10.2 million after-tax, or $0.03 per diluted share) on sale of Tower Group International and the cumulative effect on prior years of changes in accounting of $68.1 million ($0.17 per diluted share) for the adoption of SAB 101, “Revenue Recognition in Financial Statements” |
| (l) | 1999: Includes a $39.7 million gain ($24.2 million after-tax, or $0.06 per diluted share) on the sale of the Petrochemical publications |
| (m) | 1998: Includes a $26.7 million gain ($16.3 million after-tax, or $0.04 per diluted share) on sale of a building and a $16.0 million provision ($9.8 million after-tax, or $0.02 per diluted share) at Continuing Education Center for write-down of assets due to a continuing decline in enrollments and the impact of an extraordinary loss of $8.7 million after-tax, or $0.02 per diluted share on the early extinguishment of debt |
| (n) | All per share data have been adjusted for all stock splits |
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