Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended |
Sep. 30, 2013 | |
Document Type | '10-Q |
Amendment Flag | 'false |
Document Period End Date | 30-Sep-13 |
Document Fiscal Year Focus | '2013 |
Document Fiscal Period Focus | 'Q3 |
Trading Symbol | 'DNB |
Entity Registrant Name | 'DUN & BRADSTREET CORP/NW |
Entity Central Index Key | '0001115222 |
Current Fiscal Year End Date | '--12-31 |
Entity Filer Category | 'Large Accelerated Filer |
Entity Common Stock, Shares Outstanding | 38,160,343 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations and Comprehensive Income (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Revenue | $411.10 | $413.20 | $1,178.50 | $1,199.90 | ||||
Operating Expenses | 131.9 | 124.2 | 388.2 | 395.2 | ||||
Selling and Administrative Expenses | 135.2 | 154.5 | 423.9 | 448.2 | ||||
Depreciation and Amortization | 17.4 | 20 | 53.6 | 59.9 | ||||
Restructuring Charge | 6.1 | 4.8 | 10.6 | 23.2 | ||||
Operating Costs | 290.6 | 303.5 | 876.3 | 926.5 | ||||
Operating Income | 120.5 | 109.7 | 302.2 | 273.4 | ||||
Interest Income | 0.3 | 0.2 | 0.9 | 0.5 | ||||
Interest Expense | -10.3 | -9.5 | -30.2 | -27.8 | ||||
Other Income (Expense) - Net | -0.2 | -15.4 | [1] | -1.5 | -8.8 | [1] | ||
Non-Operating Income (Expense) - Net | -10.2 | [2] | -24.7 | [2] | -30.8 | [2] | -36.1 | [2] |
Income Before Provision for Income Taxes and Equity in Net Income of Affiliates | 110.3 | 85 | 271.4 | 237.3 | ||||
Less: Provision for Income Taxes | 37.4 | 4.8 | 87.6 | 37.3 | ||||
Equity in Net Income of Affiliates | 0.6 | 0.5 | 1.7 | 1.3 | ||||
Net Income | 73.5 | 80.7 | 185.5 | 201.3 | ||||
Less: Net (Income) Loss Attributable to the Noncontrolling Interest | -0.7 | -1.1 | -2.3 | -1.8 | ||||
Net Income Attributable to D&B | 72.8 | 79.6 | 183.2 | 199.5 | ||||
Basic Earnings Per Share of Common Stock Attributable to D&B Common Shareholders | $1.89 | $1.77 | $4.64 | $4.29 | ||||
Diluted Earnings Per Share of Common Stock Attributable to D&B Common Shareholders | $1.87 | $1.76 | $4.59 | $4.26 | ||||
Weighted Average Number of Shares Outstanding-Basic | 38.5 | 44.8 | 39.5 | 46.4 | ||||
Weighted Average Number of Shares Outstanding-Diluted | 38.9 | 45.2 | 39.9 | 46.8 | ||||
Cash Dividend Paid Per Common Share | $0.40 | $0.38 | $1.20 | $1.14 | ||||
Other Comprehensive Income, Net of Tax | ' | ' | ' | ' | ||||
Net Income (from above) | 73.5 | 80.7 | 185.5 | 201.3 | ||||
Foreign Currency Translation Adjustments, no Tax Impact | -7.6 | 20.9 | -44.3 | 13.2 | ||||
Defined Benefit Pension Plans: | ' | ' | ' | ' | ||||
Prior Service Costs, Net of Tax Income (1) | -1.4 | [3] | -1.8 | [3] | -4.3 | [3] | -5.3 | [3] |
Actuarial Gain (Loss), Net of Tax Expense (2) | 1.4 | [4] | 1 | [4] | 15.3 | [4] | 13.1 | [4] |
Derivative Financial Instruments, No Tax impact | 0 | 0.4 | 0 | 1.2 | ||||
Comprehensive Income, Net of Tax | 65.9 | 101.2 | 152.2 | 223.5 | ||||
Less: Comprehensive (Income) Loss Attributable to the Noncontrolling Interest | -0.5 | -1.1 | -2 | -1.7 | ||||
Comprehensive Income Attributable to D&B | $65.40 | $100.10 | $150.20 | $221.80 | ||||
[1] | During the three month and nine month periods ended September 30, 2012, we recognized the reduction of a contractual receipt under the Tax Allocation Agreement between Moody's Corporation and D&B as it relates to the expiration of the statute of limitations for the tax years 2005 and 2006. | |||||||
[2] | The following table summarizes “Non-Operating Income (Expense):â€Â For the Three Months Ended September 30, For the Nine Months Ended September 30, 2013 2012 2013 2012Interest Income$0.3 $0.2 $0.9 $0.5Interest Expense(10.3) (9.5) (30.2) (27.8)Other Income (Expense) - Net (a)(0.2) (15.4) (1.5) (8.8)Non-Operating Income (Expense) - Net$(10.2) $(24.7) $(30.8) $(36.1) | |||||||
[3] | Net of Tax Income of $0.8 million and $0.5 million during the three months ended September 30, 2013 and 2012, respectively. Net of Tax Income of $2.3 million and $1.8 million during the nine months ended September 30, 2013 and 2012, respectively. | |||||||
[4] | Net of Tax Income (Expense) of $(1.1) million and $0.1 million during the three months ended September 30, 2013 and 2012, respectively. Net of Tax Expense of $(8.1) million and $(4.4) million during the nine months ended September 30, 2013 and 2012, respectively. In addition, for the three month and nine month periods ended September 30, 2013 and 2012, there was an adjustment to our pension liabilities of $5.5 million (net of tax $2.7 million) and $5.4 million (net of tax $1.9 million), respectively, which is reflected in Accumulated Other Comprehensive Income. |
Consolidated_Statements_of_Ope1
Consolidated Statements of Operations and Comprehensive Income (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Prior Service Costs, Tax Income (Expense) | $0.80 | $0.50 | $2.30 | $1.80 |
Net Loss, Tax Income (Expense) | -1.1 | 0.1 | -8.1 | -4.4 |
Pension Liabilities Adjustment, Tax | 2.7 | 1.9 | 2.7 | 1.9 |
Accumulated Defined Benefit Plans Adjustment [Member] | ' | ' | ' | ' |
Pension Liabilities Adjustment | $5.50 | $5.40 | $5.50 | $5.40 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Current Assets | ' | ' |
Cash and Cash Equivalents | $214.30 | $149.10 |
Accounts Receivable, Net of Allowance of $23.0 at September 30, 2013 and $27.3 at December 31, 2012 | 383.3 | 514.3 |
Other Receivables | 7.5 | 6.5 |
Deferred Income Tax | 21.2 | 26.3 |
Other Prepaids | 24.7 | 46.8 |
Other Current Assets | 8.1 | 4.4 |
Total Current Assets | 659.1 | 747.4 |
Non-Current Assets | ' | ' |
Property, Plant and Equipment, Net of Accumulated Depreciation of $82.8 at September 30, 2013 and $81.2 at December 31, 2012 | 38.4 | 40.6 |
Computer Software, Net of Accumulated Amortization of $460.7 at September 30, 2013 and $431.9 at December 31, 2012 | 142.1 | 140.9 |
Goodwill | 583.8 | 611.1 |
Deferred Income Tax | 239.6 | 247.8 |
Other Receivables | 45.3 | 47.1 |
Other Intangibles | 79.2 | 99.3 |
Other Non-Current Assets | 62.4 | 57.6 |
Total Non-Current Assets | 1,190.80 | 1,244.40 |
Total Assets | 1,849.90 | 1,991.80 |
Current Liabilities | ' | ' |
Accounts Payable | 33.9 | 40.9 |
Accrued Payroll | 67.8 | 96.5 |
Accrued Income Tax | 10.8 | 9.5 |
Short-Term Debt | 0.1 | 0.2 |
Other Accrued And Current Liabilities (Note 6) | 134.1 | 118.9 |
Deferred Revenue | 541.3 | 610.7 |
Total Current Liabilities | 788 | 876.7 |
Pension and Postretirement Benefits | 644 | 668.3 |
Long-Term Debt | 1,455.90 | 1,290.70 |
Liabilities for Unrecognized Tax Benefits | 105 | 105.9 |
Other Non-Current Liabilities | 63.3 | 64.5 |
Total Liabilities | 3,056.20 | 3,006.10 |
Contingencies (Note 7) | ' | ' |
D&B SHAREHOLDERS' EQUITY (DEFICIT) | ' | ' |
Capital Surplus | 268.5 | 261.7 |
Retained Earnings | 2,540.90 | 2,405.50 |
Treasury Stock, at cost, 43.8 shares at September 30, 2013 and 40.6 shares at December 31, 2012 | -3,136.50 | -2,833.30 |
Accumulated Other Comprehensive Income (Loss) | -885.2 | -852.1 |
Total D&B Shareholders' Equity (Deficit) | -1,211.50 | -1,017.40 |
Noncontrolling Interest | 5.2 | 3.1 |
Total Equity (Deficit) | -1,206.30 | -1,014.30 |
Total Liabilities and Shareholders' Equity (Deficit) | 1,849.90 | 1,991.80 |
Series A Junior Participating Preferred Stock | ' | ' |
D&B SHAREHOLDERS' EQUITY (DEFICIT) | ' | ' |
Preferred Stock | 0 | 0 |
Preferred Stock | ' | ' |
D&B SHAREHOLDERS' EQUITY (DEFICIT) | ' | ' |
Preferred Stock | 0 | 0 |
Series Common Stock | ' | ' |
D&B SHAREHOLDERS' EQUITY (DEFICIT) | ' | ' |
Common Stock | 0 | 0 |
Common Stock | ' | ' |
D&B SHAREHOLDERS' EQUITY (DEFICIT) | ' | ' |
Common Stock | $0.80 | $0.80 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, except Per Share data, unless otherwise specified | ||
Accounts Receivable, Allowance | $23 | $27.30 |
Property, Plant and Equipment, Accumulated Depreciation | 82.8 | 81.2 |
Computer Software, Accumulated Amortization | $460.70 | $431.90 |
Treasury Stock, shares | 43.8 | 40.6 |
Series A Junior Participating Preferred Stock | ' | ' |
Preferred Stock, par value per share | $0.01 | $0.01 |
Preferred Stock, authorized | 0.5 | 0.5 |
Preferred Stock, outstanding | 0 | 0 |
Preferred Stock | ' | ' |
Preferred Stock, par value per share | $0.01 | $0.01 |
Preferred Stock, authorized | 9.5 | 9.5 |
Preferred Stock, outstanding | 0 | 0 |
Series Common Stock | ' | ' |
Common Stock, par value per share | $0.01 | $0.01 |
Common Stock, authorized | 10 | 10 |
Series Common Stock, outstanding | 0 | 0 |
Common Stock | ' | ' |
Common Stock, par value per share | $0.01 | $0.01 |
Common Stock, authorized | 200 | 200 |
Common Stock, issued | 81.9 | 81.9 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Cash Flows from Operating Activities: | ' | ' |
Net Income | $185.50 | $201.30 |
Reconciliation of Net Income to Net Cash Provided by Operating Activities: | ' | ' |
Depreciation and Amortization | 53.6 | 59.9 |
Amortization of Unrecognized Pension Loss | 25 | 17.7 |
(Gain) Loss from Sales of Business / Investments | 0 | -6 |
Impairment of Assets | 0 | 16.1 |
Income Tax Benefit from Stock-Based Awards | 7.6 | 4.9 |
Excess Tax Benefit on Stock-Based Awards | -1.4 | -1.1 |
Equity Based Compensation | 8 | 8.8 |
Restructuring Charge | 10.6 | 23.2 |
Restructuring Payments | -11.5 | -23.7 |
Change in Deferred Income Taxes, Net | 1.2 | -25.4 |
Change in Accrued Income Taxes, Net | -1.1 | -14.6 |
Changes in Current Assets and Liabilities: | ' | ' |
(Increase) Decrease in Accounts Receivable | 125.9 | 109.2 |
(Increase) Decrease in Other Current Assets | 18.5 | 24.2 |
Increase (Decrease) in Deferred Revenue | -65.9 | -56.9 |
Increase (Decrease) in Accounts Payable | -6 | 3.6 |
Increase (Decrease) in Accrued Liabilities | -27.9 | -41.9 |
Changes in Non-Current Assets and Liabilities: | ' | ' |
Increase (Decrease) in Other Accrued & Current Liabilities | 9.1 | 8.2 |
(Increase) Decrease in Other Non-Current Long-Term Assets | -4.1 | 25.1 |
Net Increase (Decrease) in Non-Current Long-Term Liabilities | -28.4 | -25.5 |
Net, Other Non-Cash Adjustments | 0.6 | 0 |
Net Cash Provided by Operating Activities | 299.3 | 307.1 |
Cash Flows from Investing Activities: | ' | ' |
Proceeds from Sales of Businesses, Net of Cash Divested | 0 | 7.9 |
Cash Settlements of Foreign Currency Contracts | -6.2 | 8.8 |
Capital Expenditures | -6.3 | -2.1 |
Additions to Computer Software and Other Intangibles | -30 | -49.8 |
Net, Other | 0 | 0.1 |
Net Cash Used in Investing Activities | -42.5 | -35.1 |
Cash Flows from Financing Activities: | ' | ' |
Payments for Purchases of Treasury Shares | -358.1 | -240 |
Net Proceeds from Stock-Based Awards | 52.5 | 14.9 |
Payments of Dividends | -47.3 | -52.8 |
Proceeds from Borrowings on Credit Facilities | 461.7 | 515 |
Payments of Borrowings on Credit Facilities | -295.8 | -454.3 |
Excess Tax Benefit on Stock-Based Awards | 1.4 | 1.1 |
Capital Lease and Other Long-Term Financing Obligation Payment | -0.6 | -2.2 |
Net, Other | 0 | -1.4 |
Net Cash Used in Financing Activities | -186.2 | -219.7 |
Effect of Exchange Rate Changes on Cash and Cash Equivalents | -5.4 | 0.3 |
Increase in Cash and Cash Equivalents | 65.2 | 52.6 |
Cash and Cash Equivalents, Beginning of Period | 149.1 | 84.4 |
Cash and Cash Equivalents, End of Period | 214.3 | 137 |
Cash Paid for: | ' | ' |
Income Taxes, Net of Refunds | 79.9 | 72.3 |
Interest | $20.50 | $13.30 |
Consolidated_Statements_of_Sha
Consolidated Statements of Shareholders' Equity (Deficit) (USD $) | Total | Common Stock ($0.01 Par Value) | Capital Surplus | Retained Earnings | Treasury Stock | Cumulative Translation Adjustment | Minimum Pension Liability Adjustment | Derivative Financial Instrument | Total D&B Shareholders' Equity (Deficit) | Noncontrolling Interest |
In Millions, unless otherwise specified | ||||||||||
Beginning Balance at Dec. 31, 2011 | ($740.20) | $0.80 | $239 | $2,179.30 | ($2,356.30) | ($168.30) | ($638.40) | $0 | ($743.90) | $3.70 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Income | 201.3 | 0 | 0 | 199.5 | 0 | 0 | 0 | 0 | 199.5 | 1.8 |
Payment to Noncontrolling Interest | -1.1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1.1 |
Sale of Noncontrolling Interest | -0.4 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0.4 |
Equity-Based Plans | 44 | 0 | 21.9 | 0 | 22.1 | 0 | 0 | 0 | 44 | 0 |
Treasury Shares Acquired | -240 | 0 | 0 | 0 | -240 | 0 | 0 | 0 | -240 | 0 |
Pension Adjustments, net of tax of $5.8 in 2013 and $2.6 in 2012 | 7.8 | 0 | 0 | 0 | 0 | 0 | 7.8 | 0 | 7.8 | 0 |
Dividend Declared | -53.1 | 0 | 0 | -53.1 | 0 | 0 | 0 | 0 | -53.1 | 0 |
Adjustments to Legacy Tax Matters | 1.6 | 0 | 1.6 | 0 | 0 | 0 | 0 | 0 | 1.6 | 0 |
Change in Cumulative Translation Adjustment | 13.2 | 0 | 0 | 0 | 0 | 13.3 | 0 | 0 | 13.3 | -0.1 |
Derivative Financial Instruments, no tax impact | 1.2 | 0 | 0 | 0 | 0 | 0 | 0 | 1.2 | 1.2 | 0 |
Ending Balance at Sep. 30, 2012 | -765.7 | 0.8 | 262.5 | 2,325.70 | -2,574.20 | -155 | -630.6 | 1.2 | -769.6 | 3.9 |
Beginning Balance at Dec. 31, 2012 | -1,014.30 | 0.8 | 261.7 | 2,405.50 | -2,833.30 | -151.2 | -701 | 0.1 | -1,017.40 | 3.1 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Income | 185.5 | 0 | 0 | 183.2 | 0 | 0 | 0 | 0 | 183.2 | 2.3 |
Equity-Based Plans | 61.7 | 0 | 6.8 | 0 | 54.9 | 0 | 0 | 0 | 61.7 | 0 |
Treasury Shares Acquired | -358.1 | 0 | 0 | 0 | -358.1 | 0 | 0 | 0 | -358.1 | 0 |
Pension Adjustments, net of tax of $5.8 in 2013 and $2.6 in 2012 | 11 | 0 | 0 | 0 | 0 | 0 | 11 | 0 | 11 | 0 |
Dividend Declared | -47.8 | 0 | 0 | -47.8 | 0 | 0 | 0 | 0 | -47.8 | 0 |
Change in Cumulative Translation Adjustment | -44.3 | 0 | 0 | 0 | 0 | -44.1 | 0 | 0 | -44.1 | -0.2 |
Derivative Financial Instruments, no tax impact | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ending Balance at Sep. 30, 2013 | ($1,206.30) | $0.80 | $268.50 | $2,540.90 | ($3,136.50) | ($195.30) | ($690) | $0.10 | ($1,211.50) | $5.20 |
Consolidated_Statements_of_Sha1
Consolidated Statements of Shareholders' Equity (Deficit) (Parenthetical) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Pension Adjustments, tax | $5.80 | $2.60 |
Derivative Financial instruments, tax impact | $0 | $0 |
Basis_of_Presentation
Basis of Presentation | 9 Months Ended | |
Sep. 30, 2013 | ||
Text Block [Abstract] | ' | |
Basis of Presentation | ' | |
Basis of Presentation | ||
These interim unaudited consolidated financial statements have been prepared in accordance with the instructions to the Quarterly Report on Form 10-Q. They should be read in conjunction with the consolidated financial statements and related notes, which appear in The Dun & Bradstreet Corporation’s (“D&B,” the "Company," “we” or “our”) Annual Report on Form 10-K for the year ended December 31, 2012. The unaudited consolidated results for interim periods do not include all disclosures required by accounting principles generally accepted in the United States of America (“GAAP”) for annual financial statements and are not necessarily indicative of results for the full year or any subsequent period. In the opinion of our management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair statement of the unaudited consolidated financial position, results of operations and cash flows at the dates and for the periods presented have been included. | ||
All inter-company transactions have been eliminated in consolidation. | ||
Effective January 1, 2013, we began managing and reporting our North America Risk Management Solutions set as: | ||
• | DNBi subscription plans - interactive, customizable online application that offers our customers real time access to our most complete and up-to-date global DUNSRight information, comprehensive monitoring and portfolio analysis. DNBi subscription plans are contracts that allow customers' unlimited use, within pre-defined ranges; | |
• | Non-DNBi subscription plans - subscription contracts which provide increased access to our risk management reports and data to help customers increase their profitability while mitigating their risk. The non-DNBi subscription plans allow customers' unlimited use, within pre-defined ranges; and | |
• | Projects and other risk management solutions - all other revenue streams. This includes, for example, our Business Information Report, our Comprehensive Report, our International Report, and D&B Direct. | |
Management believes that these measures provide further insight into our performance and the growth of our North America Risk Management Solutions revenue. | ||
We no longer report our Risk Management Solutions business on a traditional, value-added and supply management solutions basis for any segment. | ||
Also, effective January 1, 2013, we began managing and reporting our Internet Solutions business as part of our Traditional Sales & Marketing Solutions set. | ||
The financial statements of the subsidiaries outside North America reflect results for the three month and nine month periods ended August 31 in order to facilitate the timely reporting of our unaudited consolidated financial results and unaudited consolidated financial position. | ||
Where appropriate, we have reclassified certain prior year amounts to conform to the current year presentation due to the changes in solution sets discussed above. |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2013 | |
Text Block [Abstract] | ' |
Recent Accounting Pronouncements | ' |
Recent Accounting Pronouncements | |
In July 2013, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2013-11, "Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (a consensus of the Emerging Issues Task Force)," which states that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. If a company does not have: (i) a net operating loss carryforward; (ii) a similar tax loss; or (iii) a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position, or the entity does not intend to use the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. The authoritative guidance is effective for fiscal years and the interim periods within those fiscal years beginning on or after December 15, 2013 and should be applied on a prospective basis. We do not expect that the adoption of this authoritative guidance will have a material impact on our consolidated financial statements. | |
In July 2013, the FASB issued ASU No. 2013-10, "Derivatives and Hedging (Topic 815): Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes (a consensus of the Emerging Issues Task Force)," which permits a company to designate the Fed Funds Effective Swap Rate ("Fed Funds rate"), also referred to as the overnight index swap rate ("OIS"), as a benchmark interest rate for hedge accounting purposes. In addition, the ASU removes the restriction on using different benchmark interest rates for similar hedges. The authoritative guidance is effective prospectively for qualifying new or redesignated hedging relationships entered into on or after July 17, 2013. The adoption of this authoritative guidance did not have a material impact on our consolidated financial statements. | |
In March 2013, the FASB issued ASU No. 2013-5, "Foreign Currency Matters (Topic 830): Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity (a consensus of the FASB Emerging Issues Task Force)," which states that a cumulative translation adjustment ("CTA") is attached to the parent’s investment in a foreign entity and should be released in a manner consistent with the derecognition guidance on investments in entities. The entire amount of the CTA associated with the foreign entity would be released when there has been a: (i) sale of a subsidiary or group of net assets within a foreign entity and the sale represents the substantially complete liquidation of the investment in the foreign entity; (ii) loss of a controlling financial interest in an investment in a foreign entity; and (iii) step acquisition for a foreign entity. The authoritative guidance does not change the requirement to release a pro rata portion of the CTA of the foreign entity into earnings for a partial sale of an equity method investment in a foreign entity. The authoritative guidance is effective for fiscal years and the interim periods within those fiscal years beginning on or after December 15, 2013 and should be applied on a prospective basis. We do not expect that the adoption of this authoritative guidance will have a material impact on our consolidated financial statements. | |
In February 2013, the FASB issued ASU No. 2013-02, "Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income." The authoritative guidance adds new disclosure requirements for items reclassified out of accumulated other comprehensive income. A company would disaggregate the total change of each component of other comprehensive income and separately present reclassification adjustments and current-period other comprehensive income. The authoritative guidance requires a company to present information about significant items reclassified out of accumulated other comprehensive income by component either on the face of the statement where net income is presented or as a separate disclosure in the notes to the financial statements. The authoritative guidance is effective for fiscal years and the interim periods within those annual periods beginning after December 15, 2012. The authoritative guidance should be applied prospectively. See Note 12 to our unaudited consolidated financial statements included in this Quarterly Report on Form 10-Q for more information. | |
In January 2013, the FASB issued ASU No. 2013-01, "Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities," which clarifies which instruments and transactions are subject to the offsetting disclosure requirements established by ASU No. 2011-11, “Balance Sheet (Topic 210); Disclosures about Offsetting Assets and Liabilities” or “ASU No. 2011-11.” The authoritative guidance limits the scope of the offsetting disclosures to (i) recognized derivative instruments accounted for in accordance with ASC 815, “Derivatives and Hedging”, or “ASC 815,” subject to the authoritative guidance for offsetting in the statement of financial position and (ii) recognized derivative instruments accounted for in accordance with ASC 815 that are subject to an enforceable master netting arrangement or similar agreement. The authoritative guidance is effective for annual reporting periods beginning on or after January 1, 2013 and interim periods within those annual periods. A company is required to provide the disclosures required in ASU No. 2011-11 for the applicable instruments and transactions under this authoritative guidance retrospectively for all comparative periods presented. The adoption of this authoritative guidance did not have a material impact on our consolidated financial statements. | |
In December 2011, the FASB issued ASU No. 2011-11. The amendments in this ASU require a company to disclose information about offsetting and related arrangements to enable users of its financial statements to understand the effect of those arrangements on its financial position. A company is required to apply the amendments for annual reporting periods beginning on or after January 1, 2013 and interim periods within those annual periods. A company should provide the disclosures required by those amendments retrospectively for all comparative periods presented. The adoption of this authoritative guidance did not have a material impact on our consolidated financial statements. |
Restructuring_Charge
Restructuring Charge | 9 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Text Block [Abstract] | ' | |||||||||||
Restructuring Charge | ' | |||||||||||
Restructuring Charge | ||||||||||||
Financial Flexibility is an ongoing process by which we seek to reallocate our spending from low-growth or low-value activities to other activities that will create greater value for shareholders through enhanced revenue growth, improved profitability and/or quality improvements. With most initiatives, we have incurred restructuring charges (which generally consist of employee severance and termination costs, contract terminations, and/or costs to terminate lease obligations less assumed sublease income). These charges are incurred as a result of eliminating, consolidating, standardizing and/or automating our business functions. | ||||||||||||
Restructuring charges have been recorded in accordance with Accounting Standards Codification (“ASC”) 712-10, “Nonretirement Postemployment Benefits,” or “ASC 712-10” and/or ASC 420-10, “Exit or Disposal Cost Obligations,” or “ASC 420-10,” as appropriate. | ||||||||||||
We record severance costs provided under an ongoing benefit arrangement once they are both probable and estimable in accordance with the provisions of ASC 712-10. | ||||||||||||
We account for one-time termination benefits, contract terminations, and/or costs to terminate lease obligations less assumed sublease income in accordance with ASC 420-10, which addresses financial accounting and reporting for costs associated with restructuring activities. Under ASC 420-10, we establish a liability for costs associated with an exit or disposal activity, including severance and lease termination obligations, and other related costs, when the liability is incurred, rather than at the date that we commit to an exit plan. We reassess the expected cost to complete the exit or disposal activities at the end of each reporting period and adjust our remaining estimated liabilities, if necessary. | ||||||||||||
The determination of when we accrue for severance costs and which standard applies depends on whether the termination benefits are provided under an ongoing arrangement as described in ASC 712-10 or under a one-time benefit arrangement as defined by ASC 420-10. Inherent in the estimation of the costs related to the restructurings are assessments related to the most likely expected outcome of the significant actions to accomplish the exit activities. In determining the charges related to the restructurings, we had to make estimates related to the expenses associated with the restructurings. These estimates may vary significantly from actual costs depending, in part, upon factors that may be beyond our control. We will continue to review the status of our restructuring obligations on a quarterly basis and, if appropriate, record changes to these obligations in current operations based on management’s most current estimates. | ||||||||||||
Three Months Ended September 30, 2013 vs. Three Months Ended September 30, 2012 | ||||||||||||
During the three months ended September 30, 2013, we recorded a $6.1 million restructuring charge. The significant components of this charge included: | ||||||||||||
• | Severance and termination costs of $3.1 million in accordance with the provisions of ASC 712-10 were recorded. Approximately 65 employees were impacted. Of these 65 employees, approximately 40 employees exited the Company in the third quarter of 2013, with the remaining primarily to exit in the fourth quarter of 2013. The cash payments for these employees will be substantially completed by the second quarter of 2014; and | |||||||||||
• | Contract termination, lease termination obligations, other exit costs including those to consolidate or close facilities and other exit costs of $3.0 million. | |||||||||||
During the three months ended September 30, 2012, we recorded a $4.8 million restructuring charge. The significant components of this charge included: | ||||||||||||
• | Severance and termination costs of $1.6 million in accordance with the provisions of ASC 712-10 were recorded. Approximately 50 employees were impacted. Of these 50 employees, approximately 35 employees exited the Company in the third quarter of 2012, with the remaining primarily having exited in the fourth quarter of 2012. The cash payments for these employees were substantially completed by the second quarter of 2013; and | |||||||||||
• | Lease termination obligations, other costs to consolidate or close facilities and other exit costs of $3.2 million. | |||||||||||
Nine Months Ended September 30, 2013 vs. Nine Months Ended September 30, 2012 | ||||||||||||
During the nine months ended September 30, 2013, we recorded a $10.6 million restructuring charge. The significant components of this charge included: | ||||||||||||
• | Severance and termination costs of $5.8 million in accordance with the provisions of ASC 712-10 were recorded. Approximately 130 employees were impacted. Of these 130 employees, approximately 100 employees exited the Company in the third quarter of 2013, with the remaining primarily to exit in the fourth quarter of 2013. The cash payments for these employees will be substantially completed by the second quarter of 2014; and | |||||||||||
• | Contract termination, lease termination obligations, other exit costs including those to consolidate or close facilities and asset impairments of $4.8 million. | |||||||||||
During the nine months ended September 30, 2012, we recorded a $23.2 million restructuring charge. The significant components of this charge included: | ||||||||||||
• | Severance and termination costs of $12.8 million and $4.7 million in accordance with the provisions of ASC 712-10 and ASC 420-10, respectively, were recorded. Approximately 670 employees were impacted. Of these 670 employees, approximately 655 employees exited the Company in the third quarter of 2012, with the remaining primarily having exited in the fourth quarter of 2012. The cash payments for these employees were substantially completed by the second quarter of 2013; and | |||||||||||
• | Lease termination obligations, other costs to consolidate or close facilities and other exit costs of $5.7 million. | |||||||||||
The following tables set forth, in accordance with ASC 712-10 and/or ASC 420-10, the restructuring reserves and utilization related to our Financial Flexibility initiatives: | ||||||||||||
Severance | Lease | Total | ||||||||||
and | Termination | |||||||||||
Termination | Obligations | |||||||||||
and Other | ||||||||||||
Exit Costs | ||||||||||||
Restructuring Charges: | ||||||||||||
Balance Remaining as of December 31, 2012 | $ | 9.4 | $ | 2.3 | $ | 11.7 | ||||||
Charge Taken during First Quarter 2013 | 0.6 | 1.7 | 2.3 | |||||||||
Payments/Asset Impairment during First Quarter 2013 (1) | (3.7 | ) | (0.8 | ) | (4.5 | ) | ||||||
Balance Remaining as of March 31, 2013 | $ | 6.3 | $ | 3.2 | $ | 9.5 | ||||||
Charge Taken during Second Quarter 2013 | 2.1 | 0.1 | 2.2 | |||||||||
Payments during Second Quarter 2013 | (3.0 | ) | (0.4 | ) | (3.4 | ) | ||||||
Balance Remaining as of June 30, 2013 | $ | 5.4 | $ | 2.9 | $ | 8.3 | ||||||
Charge Taken during Third Quarter 2013 | $ | 3.1 | $ | 3 | $ | 6.1 | ||||||
Payments during Third Quarter 2013 | (2.3 | ) | (1.8 | ) | (4.1 | ) | ||||||
Balance Remaining as of September 30, 2013 | $ | 6.2 | $ | 4.1 | $ | 10.3 | ||||||
Severance | Lease | Total | ||||||||||
and | Termination | |||||||||||
Termination | Obligations | |||||||||||
and Other | ||||||||||||
Exit Costs | ||||||||||||
Restructuring Charges: | ||||||||||||
Balance Remaining as of December 31, 2011 | $ | 8.3 | $ | 2.2 | $ | 10.5 | ||||||
Charge Taken during First Quarter 2012 | 6.7 | 2.4 | 9.1 | |||||||||
Payments during First Quarter 2012 | (4.0 | ) | (1.0 | ) | (5.0 | ) | ||||||
Balance Remaining as of March 31, 2012 | $ | 11 | $ | 3.6 | $ | 14.6 | ||||||
Charge Taken during Second Quarter 2012 | 9.2 | 0.1 | 9.3 | |||||||||
Payments during Second Quarter 2012 | (7.5 | ) | (0.8 | ) | (8.3 | ) | ||||||
Balance Remaining as of June 30, 2012 | $ | 12.7 | $ | 2.9 | $ | 15.6 | ||||||
Charge Taken during Third Quarter 2012 | $ | 1.6 | $ | 3.2 | $ | 4.8 | ||||||
Payments during Third Quarter 2012 | (6.7 | ) | (3.7 | ) | (10.4 | ) | ||||||
Balance Remaining as of September 30, 2012 | $ | 7.6 | $ | 2.4 | $ | 10 | ||||||
(1) We incurred an asset impairment of $0.5 million in the first quarter of 2013 related to the termination of a lease. |
Notes_Payable_and_Indebtedness
Notes Payable and Indebtedness | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Text Block [Abstract] | ' | |||||||
Notes Payable and Indebtedness | ' | |||||||
Notes Payable and Indebtedness | ||||||||
Our borrowings are summarized in the following table: | ||||||||
September 30, | 31-Dec-12 | |||||||
2013 | ||||||||
Debt Maturing Within One Year: | ||||||||
Other | $ | 0.1 | $ | 0.2 | ||||
Total Debt Maturing Within One Year | $ | 0.1 | $ | 0.2 | ||||
Debt Maturing After One Year: | ||||||||
Long-Term Fixed-Rate Notes (Net of a $3.2 million and $3.5 million discount as of September 30, 2013 and December 31, 2012, respectively) | $ | 1,046.80 | $ | 1,046.50 | ||||
Fair Value Adjustment Related to Hedged Debt | 2.9 | 3.8 | ||||||
Credit Facility | 406.1 | 240.2 | ||||||
Other | 0.1 | 0.2 | ||||||
Total Debt Maturing After One Year | $ | 1,455.90 | $ | 1,290.70 | ||||
Fixed-Rate Notes | ||||||||
In December 2012, we issued senior notes with a face value of $450 million that mature on December 1, 2017 (the "2017 notes”), bearing interest at a fixed annual rate of 3.25%, payable semi-annually. In addition, in December 2012, we issued senior notes with a face value of $300 million that mature on December 1, 2022 (the “2022 notes”), bearing interest at a fixed annual rate of 4.375%, payable semi-annually. The proceeds were used in December 2012 to repay borrowings outstanding under our revolving credit facility and retire our then outstanding $400 million senior notes bearing interest at a fixed annual rate of 6.00%, which had a maturity date of April 2013 (the “2013 notes”). In connection with the redemption of the 2013 notes, we recorded a premium payment of $5.4 million to “Other Income (Expense)—Net” in the consolidated statement of operations and comprehensive income during the year ended December 31, 2012. The interest rates applicable to the 2017 notes and 2022 notes are subject to adjustment if our debt rating is decreased three levels below the Standard & Poor's and Fitch BBB+ credit ratings that we held on the date of issuance. After a rate adjustment, if our debt ratings are subsequently upgraded, the adjustment(s) would reverse. The maximum adjustment is 2.00% above the initial interest rate and the rate cannot adjust below the initial interest rates. As of September 30, 2013, no such adjustments to the interest rates were required. The 2017 notes and 2022 notes carrying amounts of $450.0 million and $297.3 million, net of less than $0.1 million and $2.7 million of remaining issuance discounts, respectively, are recorded as “Long-Term Debt” in our unaudited consolidated balance sheet at September 30, 2013. | ||||||||
The 2017 notes and 2022 notes were issued at discounts of less than $0.1 million and $2.9 million, respectively. In addition, in connection with the issuance, we incurred underwriting and other fees of approximately $3.4 million and $2.5 million for the 2017 notes and 2022 notes, respectively. These costs are being amortized over the life of the applicable notes. The 2017 notes and 2022 notes contain certain covenants that limit our ability to create liens, enter into sale and leaseback transactions and consolidate, merge or sell assets to another entity. The 2017 notes and 2022 notes do not contain any financial covenants. | ||||||||
On January 30, 2008, we entered into interest rate derivative transactions with an aggregate notional amount of $400 million. The objective of these hedges was to mitigate the variability of future cash flows from market changes in Treasury rates in anticipation of the issuance of the 2013 notes. These transactions were accounted for as cash flow hedges and, as such, changes in fair value of the hedges that took place through the date of the issuance of the 2013 notes were recorded in Accumulated Other Comprehensive Income (“AOCI”). In connection with the issuance of the 2013 notes, these interest rate derivative transactions were terminated, resulting in a loss and a payment of $8.5 million on March 28, 2008, the date of termination. The March 28, 2008 payment had been recorded in AOCI and has been amortized over the life of the 2013 notes. In connection with the redemption of the 2013 notes in December 2012, the remaining unamortized portion of the loss in the amount of $0.3 million was recorded to “Other Income (Expense) - Net” in the consolidated statement of operations and comprehensive income during the year ended December 31, 2012. In addition, with the redemption of the 2013 notes in December 2012, the remaining unamortized underwriting and other fees in the amount of $0.1 million was recorded to "Other Income (Expense) - Net" in the consolidated statement of operations and comprehensive income during the year ended December 31, 2012. | ||||||||
In November 2010, we issued senior notes with a face value of $300 million that mature on November 15, 2015 (the "2015 notes”), bearing interest at a fixed annual rate of 2.875%, payable semi-annually. The proceeds were used in December 2010 to repay our then outstanding $300 million senior notes, bearing interest at a fixed annual rate of 5.50%, which had a maturity date of March 15, 2011 (the “2011 notes”). In connection with the redemption of the 2011 notes, we recorded a premium payment of $3.7 million to “Other Income (Expense) - Net” in the consolidated statement of operations and comprehensive income during the year ended December 31, 2010. The 2015 notes of $299.5 million, net of $0.5 million remaining discount, are recorded as “Long-Term Debt” in our unaudited consolidated balance sheet at September 30, 2013. | ||||||||
The 2015 notes were issued at a discount of $1.1 million, and, in connection with the issuance, we incurred underwriting and other fees of approximately $2.5 million. These costs are being amortized over the life of the 2015 notes. The 2015 notes contain certain covenants that limit our ability to create liens, enter into sale and leaseback transactions and consolidate, merge or sell assets to another entity. The 2015 notes do not contain any financial covenants. | ||||||||
In November and December 2010, we entered into interest rate derivative transactions with aggregate notional amounts of $125 million. The objective of these hedges was to offset the change in fair value of the fixed rate 2015 notes attributable to changes in LIBOR. These transactions have been accounted for as fair value hedges. We have recognized the gain or loss on the derivative instruments, as well as the offsetting loss or gain on the hedged item, in “Other Income (Expense)—Net” in the consolidated statement of operations and comprehensive income. | ||||||||
In March 2012, in connection with our objective to manage exposure to interest rate changes and our policy to manage our fixed and floating-rate debt mix, these interest rate derivatives discussed in the previous paragraph were terminated. This resulted in a gain of $0.3 million and the receipt of $5.0 million in cash on March 12, 2012, the swap termination settlement date. The gain of $0.3 million was recorded in “Other Income (Expense)—Net” in the consolidated statement of operations and comprehensive income during the year ended December 31, 2012. | ||||||||
Approximately $0.8 million of derivative gains offset by a $0.5 million loss on the fair value adjustment related to the hedged debt were recorded through the date of termination in the results for the three months ended March 31, 2012. The $4.9 million adjustment in the carrying amount of the hedged debt at the date of termination is being amortized as an offset to “Interest Expense” in our consolidated statement of operations and comprehensive income over the remaining term of the 2015 notes. Approximately $0.9 million of amortization was recorded during the nine months ended September 30, 2013, resulting in a balance of $2.9 million in our unaudited consolidated balance sheet at September 30, 2013. | ||||||||
Credit Facility | ||||||||
At September 30, 2013 and December 31, 2012, we had an $800 million revolving credit facility, which expires in October 2016. Borrowings under the $800 million revolving credit facility are available at prevailing short-term interest rates. The facility requires the maintenance of interest coverage and total debt to Earnings Before Income Taxes, Depreciation and Amortization (“EBITDA”) ratios, which are defined in the credit agreement. We were in compliance with these revolving credit facility financial covenants at September 30, 2013 and December 31, 2012. | ||||||||
At September 30, 2013 and December 31, 2012, we had $406.1 million and $240.2 million, respectively, of borrowings outstanding under the $800 million revolving credit facility with weighted average interest rates of 1.19% and 1.62%, respectively. We borrowed under this facility from time-to-time during the nine months ended September 30, 2013 to supplement the timing of receipts in order to fund our working capital. We have also borrowed under this facility from time-to-time to fund a portion of our share repurchases. The $800 million revolving credit facility also supports our commercial paper program, which was increased from $300 million to $800 million during July 2012. Under this program, we may issue from time-to-time unsecured promissory notes in the commercial paper market in private placements exempt from registration under the Securities Act of 1933, as amended, for a cumulative face amount not to exceed $800 million outstanding at any one time and with maturities not exceeding 364 days from the date of issuance. Outstanding commercial paper effectively reduces the amount available for borrowing under the $800 million revolving credit facility. We did not borrow under our commercial paper program during the nine months ended September 30, 2013 or 2012. | ||||||||
Other | ||||||||
At September 30, 2013 and December 31, 2012, certain of our international operations had uncommitted lines of credit of $2.5 million and $3.0 million, respectively. There were no borrowings outstanding under these lines of credit at September 30, 2013 and December 31, 2012, respectively. These arrangements have no material facility fees and no compensating balance requirements. | ||||||||
At September 30, 2013 and December 31, 2012, we were contingently liable under open standby letters of credit and bank guarantees issued by our banks in favor of third parties and parent guarantees in favor of certain of our banks totaling $5.0 million and $12.5 million, respectively. | ||||||||
Interest paid for all outstanding debt totaled $1.0 million and $20.5 million during the three month and nine month periods ended September 30, 2013, respectively. In March 2012, we terminated our then outstanding interest rate derivatives that were intended to offset the change in fair value of the fixed rate 2015 notes attributable to changes in LIBOR, resulting in the receipt of $5.0 million in cash on the date of termination. This resulted in a net interest received of $4.4 million for all outstanding debt for the three months ended March 31, 2012. Interest paid for all outstanding debt totaled $0.9 million and $13.3 million during the three month and nine month periods ended September 30, 2012, respectively. |
Earnings_Per_Share
Earnings Per Share | 9 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||||||||||
Earnings Per Share | ' | ||||||||||||||||||||||||||||
Earnings Per Share | |||||||||||||||||||||||||||||
We assess if any of our share-based payment transactions are deemed participating securities prior to vesting and therefore need to be included in the earnings allocation when computing Earnings Per Share (“EPS”) under the two-class method. The two-class method requires earnings to be allocated between common shareholders and holders of participating securities. All outstanding unvested share-based payment awards that contain non-forfeitable rights to dividends are considered to be a separate class of common stock and should be included in the calculation of basic and diluted EPS. Based on a review of our stock-based awards, we have determined that only our restricted stock awards are deemed participating securities. We did not have any weighted average restricted shares outstanding for the three month and nine month periods ended September 30, 2013, respectively. The number of weighted average restricted shares outstanding was 8,050 shares and 15,543 shares for the three month and nine month periods ended September 30, 2012, respectively. | |||||||||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||
Net Income Attributable to D&B | $ | 72.8 | $ | 79.6 | $ | 183.2 | $ | 199.5 | |||||||||||||||||||||
Less: Allocation to Participating Securities | — | — | — | (0.1 | ) | ||||||||||||||||||||||||
Net Income Attributable to D&B Common Shareholders – Basic and Diluted | $ | 72.8 | $ | 79.6 | $ | 183.2 | $ | 199.4 | |||||||||||||||||||||
Weighted Average Number of Shares Outstanding – Basic | 38.5 | 44.8 | 39.5 | 46.4 | |||||||||||||||||||||||||
Dilutive Effect of Our Stock Incentive Plans | 0.4 | 0.4 | 0.4 | 0.4 | |||||||||||||||||||||||||
Weighted Average Number of Shares Outstanding – Diluted | 38.9 | 45.2 | 39.9 | 46.8 | |||||||||||||||||||||||||
Basic Earnings Per Share of Common Stock Attributable to D&B Common Shareholders | $ | 1.89 | $ | 1.77 | $ | 4.64 | $ | 4.29 | |||||||||||||||||||||
Diluted Earnings Per Share of Common Stock Attributable to D&B Common Shareholders | $ | 1.87 | $ | 1.76 | $ | 4.59 | $ | 4.26 | |||||||||||||||||||||
Stock-based awards to acquire 5,414 shares and 1,376,145 shares of common stock were outstanding at the three months ended September 30, 2013 and 2012, respectively, but were not included in the computation of diluted earnings per share because the assumed proceeds, as calculated under the treasury stock method, resulted in these awards being anti-dilutive. Stock-based awards to acquire 138,504 shares and 1,385,966 shares of common stock were outstanding at the nine months ended September 30, 2013 and 2012, respectively, but were not included in the computation of diluted earnings per share because the assumed proceeds, as calculated under the treasury stock method, resulted in these awards being anti-dilutive. Our options generally expire ten years from the grant date. | |||||||||||||||||||||||||||||
Our share repurchases were as follows: | |||||||||||||||||||||||||||||
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | ||||||||||||||||||||||||||||
Program | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||
Shares | $ Amount | Shares | $ Amount | Shares | $ Amount | Shares | $ Amount | ||||||||||||||||||||||
(Dollar amounts in millions) | (Dollar amounts in millions) | ||||||||||||||||||||||||||||
Share Repurchase Programs (a) | 528,795 | $ | 55 | 435,733 | $ | 36 | 3,045,926 | $ | 270.1 | 3,404,436 | $ | 236 | |||||||||||||||||
Repurchases to Mitigate the Dilutive Effect of the Shares Issued Under Our Stock Incentive Plans and Employee Stock Purchase Plan (“ESPP”) (b) | 192,450 | 20 | — | — | 899,087 | 88 | 59,563 | 4 | |||||||||||||||||||||
Total Repurchases | 721,245 | $ | 75 | 435,733 | $ | 36 | 3,945,013 | $ | 358.1 | 3,463,999 | $ | 240 | |||||||||||||||||
(a) | In August 2012, our Board of Directors approved a $500 million increase to our then existing $500 million share repurchase program, for a total program authorization of $1 billion. The then existing $500 million share repurchase program was approved by our Board of Directors in October 2011 and commenced in November 2011 upon completion of our previous $200 million share repurchase program. We anticipate that this program will be completed by mid-2014. | ||||||||||||||||||||||||||||
(b) | In May 2010, our Board of Directors approved a four-year, five million share repurchase program to mitigate the dilutive effect of the shares issued under our stock incentive plans and ESPP. This program commenced in October 2010 and expires in October 2014. |
Other_Accrued_and_Current_Liab
Other Accrued and Current Liabilities | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Text Block [Abstract] | ' | |||||||
Other Accrued and Current Liabilities | ' | |||||||
Other Accrued and Current Liabilities | ||||||||
September 30, | 31-Dec-12 | |||||||
2013 | ||||||||
Restructuring Accruals | $ | 10.3 | $ | 11.7 | ||||
Professional Fees | 35.7 | 37.4 | ||||||
Operating Expenses | 24.2 | 25.5 | ||||||
Bond Interest Payable (1) | 12.5 | 3.4 | ||||||
Other Accrued Liabilities (2) | 51.4 | 40.9 | ||||||
$ | 134.1 | $ | 118.9 | |||||
-1 | The increase in Bond Interest Payable from December 31, 2012 to September 30, 2013 primarily reflects the absence, from the December 31, 2012 balance, of interest associated with our 2013 notes which were retired at December 31, 2012, and the timing of interest accrual periods associated with our 2017 notes and 2022 notes which were issued in December 2012. | |||||||
-2 | The increase in Other Accrued Liabilities from December 31, 2012 to September 30, 2013 was primarily attributed to the purchase of perpetual licenses of third-party software. |
Contingencies
Contingencies | 9 Months Ended |
Sep. 30, 2013 | |
Text Block [Abstract] | ' |
Contingencies | ' |
Contingencies | |
We are involved in tax and legal proceedings, claims and litigation arising in the ordinary course of business for which we believe that we have adequate reserves, and such reserves are not material to our consolidated financial statements. We record a liability when management believes that it is both probable that a liability has been incurred and we can reasonably estimate the amount of the loss. For such matters where management believes a liability is not probable but is reasonably possible, a liability is not recorded; instead, an estimate of loss or range of loss, if material individually or in the aggregate, is disclosed if reasonably estimable, or a statement will be made that an estimate of loss cannot be made. Once we have disclosed a matter that we believe is or could be material to us, we continue to report on such matter until there is finality of outcome or until we determine that disclosure is no longer warranted. Further, we believe our estimate of the aggregate range of reasonably possible losses, in excess of established reserves, for our legal proceedings was not material at September 30, 2013. In addition, from time-to-time, we may be involved in additional matters, which could become material and for which we may also establish reserve amounts, as discussed below. | |
China Operations | |
On March 18, 2012, we announced we had temporarily suspended our Shanghai Roadway D&B Marketing Services Co. Ltd. (“Roadway”) operations in China, pending an investigation into allegations that its data collection practices may have violated local Chinese consumer data privacy laws. Thereafter, the Company decided to permanently cease the operations of Roadway. In addition, we have been reviewing certain allegations that we may have violated the Foreign Corrupt Practices Act and certain other laws in our China operations. As previously reported, we have voluntarily contacted the Securities and Exchange Commission and the United States Department of Justice to advise both agencies of our investigation. Our investigation remains ongoing and is being conducted at the direction of the Audit Committee. | |
During the nine months ended September 30, 2013, we incurred $6.2 million of legal and other professional fees related to matters in China. Additionally, during the year ended December 31, 2012, we incurred $13.5 million of legal and other professional fees and $2.1 million in local shut-down costs, as well as an impairment charge of $12.9 million related to accounts receivable, intangible assets, prepaid costs and software for Roadway, an operation in our Greater China reporting unit. For the year ended December 31, 2012, the Roadway business had $5.4 million of revenue and $14.5 million of operating loss. D&B acquired Roadway’s operations in 2009, and for 2011 Roadway accounted for approximately $22 million in revenue and $2 million in operating income. | |
On September 28, 2012, Roadway was charged in a Bill of Prosecution, along with five former employees, by the Shanghai District Prosecutor with illegally obtaining private information of Chinese citizens. On December 28, 2012, the Chinese court imposed a monetary fine on Roadway and fines and imprisonment on four former Roadway employees. A fifth former Roadway employee was separated from the case. | |
As our investigation is ongoing, we cannot yet predict the ultimate outcome of the matter or its impact, if any, on our business, financial condition or results of operations. No amount in respect of any potential liability in this matter, including for penalties, fines or other sanctions, has been accrued in our consolidated financial statements. In accordance with ASC 450," Contingencies," we do not have sufficient information upon which to determine that a loss in connection with this matter is probable, reasonably possible or estimable, and thus no reserve has been established nor has a range of loss been disclosed. | |
Nicholas Martin v. Dun & Bradstreet, Inc. and Convergys Customer Management Group, Inc., No. 12 CV 215 (USDC N.D. IL.) | |
On January 11, 2012, Nicholas Martin filed suit against Dun & Bradstreet, Inc. and Convergys Customer Management Group, Inc. ("Convergys") in the United States District Court for the Northern District of Illinois. The complaint alleges that Defendants violated the Telephone Consumer Protection Act (“TCPA”) because Convergys placed a telephone call to Plaintiff's cell phone using an automatic telephone dialing system ("ATDS") and because Dun & Bradstreet, Inc. authorized the telephone call. The TCPA generally prohibits the use of an ATDS to place a call to a cell phone for nonemergency purposes and without the prior express consent of the called party. The TCPA provides for statutory damages of $500 per violation, which may be trebled to $1,500 per violation at the discretion of the court if the plaintiff proves the defendant willfully violated the TCPA. Plaintiff sought to bring this action as a class action on behalf of all persons who Defendants called on their cell phone using an ATDS, where the Defendants obtained the cell phone number from some source other than directly from the called party, during the period from January 11, 2010 to the present. The parties reached an agreement to settle this matter and they have negotiated the terms of a settlement agreement and other related settlement documents. On July 16, 2013 the Court granted Plaintiff's Motion for Preliminary Approval of Class Action Settlement and entered a Preliminary Approval Order. Class members have been given notice and had until October 7, 2013 to submit claims, which are subject to Defendants' review. The settlement is subject to final approval by the Court. The Court scheduled a Final Approval Hearing for November 19, 2013. In accordance with ASC 450, "Contingencies," as of September 30, 2013, a reserve has been accrued by the company in this matter, which is reflected in our consolidated financial statements. The amount of such reserve is not material to the company's financial statements and an estimate of the additional loss or range of loss cannot be made. | |
O&R Construction, LLC v. Dun & Bradstreet Credibility Corporation, et al., No. 2:12 CV 02184 (USDC W.D. Wash.) | |
On December 13, 2012, plaintiff O&R Construction LLC filed a putative class action in the United States District Court for the Western District of Washington against D&B and an unaffiliated entity. The complaint alleges, among other things, that defendants violated the antitrust laws, used deceptive marketing practices to sell the CreditBuilder credit monitoring products and allegedly misrepresented the nature, need and value of the products. The plaintiff purports to sue on behalf of a putative class of purchasers of CreditBuilder and seeks recovery of damages and equitable relief. On February 18, 2013, the Company filed a motion to dismiss the complaint. On April 5, 2013, plaintiff filed an amended complaint in lieu of responding to the motion. The amended complaint dropped the antitrust claims and retained the class action and deceptive practices allegations. The Company filed a new motion to dismiss the amended complaint on May 3, 2013. On August 23, 2013, the court heard the motion and granted it. Specifically, the court dismissed a contract claim with prejudice, and dismissed all the remaining claims without prejudice. On September 23, 2013, plaintiff filed a Second Amended Complaint, which alleges new claims about the nature and quality of the Company’s data and services. The Company plans to file a motion to dismiss the Second Amended Complaint. The parties exchanged initial disclosures and completed the initial case management process in March 2013. Formal discovery had begun but has been stayed by the court pending review of the Second Amended Complaint. This litigation is at a very preliminary stage. In accordance with ASC 450," Contingencies," we do not have sufficient information upon which to determine that a loss in connection with this matter is probable, reasonably possible or estimable, and thus no reserve has been established nor has a range of loss been disclosed. The Company disputes the allegations and intends to vigorously defend the case. | |
Other Matters | |
In addition, in the normal course of business, and including without limitation, our merger and acquisition activities and financing transactions, D&B indemnifies other parties, including customers, lessors and parties to other transactions with D&B, with respect to certain matters. D&B has agreed to hold the other parties harmless against losses arising from a breach of representations or covenants, or arising out of other claims made against certain parties. These agreements may limit the time within which an indemnification claim can be made and the amount of the claim. D&B has also entered into indemnity obligations with its officers and directors. | |
Additionally, in certain circumstances, D&B issues guarantee letters on behalf of our wholly-owned subsidiaries for specific situations. It is not possible to determine the maximum potential amount of future payments under these indemnification agreements due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular agreement. Historically, payments made by D&B under these agreements have not had a material impact on our consolidated financial statements. |
Income_Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2013 | |
Text Block [Abstract] | ' |
Income Taxes | ' |
Income Taxes | |
For the three months ended September 30, 2013, our effective tax rate was 33.8% as compared to 5.6% for the three months ended September 30, 2012. For the three months ended September 30, 2013, the effective tax rate was positively impacted by a net increase in our deferred tax assets resulting from enacted tax law changes in certain U.S. states and in the United Kingdom during the third quarter of 2013. In addition, the tax rate for the three months ended September 30, 2012 as compared to the tax rate for the three months ended September 30, 2013 included a significant benefit from the release of reserves for uncertain tax positions due to the effective settlement of an audit for the tax years 2005 and 2006. For the three months ended September 30, 2013, there are no changes in our effective tax rate that either have had or that we expect may reasonably have a material impact on our operations or future performance. | |
For the nine months ended September 30, 2013, our effective tax rate was 32.3% as compared to 15.7% for the nine months ended September 30, 2012. For the nine months ended September 30, 2013, our effective tax rate was positively impacted primarily by a net increase in our deferred tax assets resulting from enacted tax law changes in certain U.S. states and in the United Kingdom during the third quarter of 2013 and by the release of reserves for uncertain tax positions. For the nine months ended September 30, 2012, our effective tax rate was positively impacted by the release of reserves for uncertain tax positions due to the effective settlement of an audit for the tax years 2005 and 2006, a tax benefit on a loss on the tax basis of a legal entity, and tax benefits from the divestiture of the domestic portion of our Japan operations, and negatively impacted by an impairment related to permanently ceasing operations of Roadway in China. For the nine months ended September 30, 2012, there are no changes in our effective tax rate that either have had or that we expect may reasonably have a material impact on our operations or future performance. | |
The total amount of gross unrecognized tax benefits as of September 30, 2013 was $98.5 million. The amount of unrecognized tax benefits that, if recognized, would impact the effective tax rate is $92.9 million, net of tax benefits. During the three months ended September 30, 2013, we decreased our unrecognized tax benefits by $0.1 million, net of increases. The decrease is primarily related to adjustments to a prior year position for state taxes. During the nine months ended September 30, 2013, we decreased our unrecognized tax benefits by $2.2 million, net of increases. The decrease is primarily due to the expiration of applicable statutes of limitation and settlements with taxing authorities. We anticipate that it is reasonably possible total unrecognized tax benefits will decrease by approximately $63.0 million within the next twelve months as a result of the expiration of applicable statutes of limitation. | |
We or one of our subsidiaries file income tax returns in the U.S. federal, and various state, local and foreign jurisdictions. In the U.S. federal jurisdiction, we are no longer subject to examination by the Internal Revenue Service ("IRS") for years prior to 2007. In state and local jurisdictions, with a few exceptions, we are no longer subject to examinations by tax authorities for years prior to 2008. In foreign jurisdictions, with a few exceptions, we are no longer subject to examinations by tax authorities for years prior to 2007. | |
The IRS is examining our 2007, 2008 and 2009 tax years. We expect the examination will be completed no later than the first quarter of 2014. | |
We recognize accrued interest expense related to unrecognized tax benefits in income tax expense. The total amount of interest expense recognized for the three month and nine month periods ended September 30, 2013 was $0.6 million and $1.8 million, net of tax benefits, respectively, as compared to $1.2 million and $2.5 million, net of tax benefits, for the three month and nine month periods ended September 30, 2012, respectively. The total amount of accrued interest as of September 30, 2013 was $9.7 million, net of tax benefits, as compared to $8.2 million, net of tax benefits, as of September 30, 2012. |
Pension_and_Postretirement_Ben
Pension and Postretirement Benefits | 9 Months Ended | |||||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||||
Text Block [Abstract] | ' | |||||||||||||||||||||||||||||||
Pension and Postretirement Benefits | ' | |||||||||||||||||||||||||||||||
Pension and Postretirement Benefits | ||||||||||||||||||||||||||||||||
The following table sets forth the components of the net periodic cost (income) associated with our pension plans and our postretirement benefit obligations: | ||||||||||||||||||||||||||||||||
Pension Plans | Postretirement Benefit Obligations | |||||||||||||||||||||||||||||||
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||
Components of Net Periodic Cost (Income): | ||||||||||||||||||||||||||||||||
Service Cost | $ | 0.9 | $ | 1.3 | $ | 3.5 | $ | 4.4 | $ | 0.2 | $ | 0.3 | $ | 0.6 | $ | 0.5 | ||||||||||||||||
Interest Cost | 17.5 | 19 | 52.4 | 56.5 | 0.3 | 0.1 | 0.6 | 0.5 | ||||||||||||||||||||||||
Expected Return on Plan Assets | (23.4 | ) | (25.0 | ) | (70.3 | ) | (74.7 | ) | — | — | — | — | ||||||||||||||||||||
Amortization of Prior Service Cost (Credit) | 0.1 | 0.1 | 0.3 | 0.3 | (2.3 | ) | (2.4 | ) | (6.9 | ) | (7.4 | ) | ||||||||||||||||||||
Recognized Actuarial Loss (Gain) | 11 | 9 | 32.7 | 26.7 | (0.3 | ) | (0.9 | ) | (1.1 | ) | (1.9 | ) | ||||||||||||||||||||
Net Periodic Cost (Income) | $ | 6.1 | $ | 4.4 | $ | 18.6 | $ | 13.2 | $ | (2.1 | ) | $ | (2.9 | ) | $ | (6.8 | ) | $ | (8.3 | ) | ||||||||||||
We previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2012 that we expected to contribute $22.0 million to our U.S. Non-Qualified plans and non-U.S. pension plans and $5.0 million to our postretirement benefit plan for the year ended December 31, 2013. As of September 30, 2013, we have made contributions to our Non-Qualified U.S. and non-U.S. pension plans of $16.0 million and postretirement benefit plan of $2.1 million. | ||||||||||||||||||||||||||||||||
We also previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2012 that we did not expect to make any contributions to the U.S. Qualified Plan in 2013. We currently anticipate making a contribution to the U.S. Qualified Plan in 2014, which we may elect to pay in whole or in part in 2013, up to approximately $20 million. |
Segment_Information
Segment Information | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Text Block [Abstract] | ' | |||||||||||||||
Segment Information | ' | |||||||||||||||
Segment Information | ||||||||||||||||
The segments reported below are our segments for which separate financial information is available and upon which operating results are evaluated by management on a timely basis to assess performance and to allocate resources. We manage our operations and our results are reported under the following three segments: | ||||||||||||||||
• | North America (which consists of our operations in the U.S. and Canada); | |||||||||||||||
• | Asia Pacific (which primarily consists of our operations in Australia, Greater China, India and Asia Pacific Worldwide Network); and | |||||||||||||||
• | Europe and Other International Markets (which primarily consists of operations in the UK, the Netherlands, Belgium, Latin America and European Worldwide Network). | |||||||||||||||
Our customer solution sets are D&B Risk Management Solutions™ and D&B Sales & Marketing Solutions™. Inter-segment sales are immaterial, and no single customer accounted for 10% or more of our total revenue. For management reporting purposes, we evaluate business segment performance before restructuring charges and intercompany transactions because these charges are not a component of our ongoing income or expenses and may have a disproportionate positive or negative impact on the results of our ongoing underlying business. | ||||||||||||||||
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Revenue: | ||||||||||||||||
North America | $ | 305.8 | $ | 308.3 | $ | 867.7 | $ | 872.8 | ||||||||
Asia Pacific | 44.4 | 44.7 | 135.1 | 132.6 | ||||||||||||
Europe and Other International Markets | 60.9 | 60.1 | 175.7 | 175.8 | ||||||||||||
Consolidated Core | 411.1 | 413.1 | 1,178.50 | 1,181.20 | ||||||||||||
Divested and Other Businesses | — | 0.1 | — | 18.7 | ||||||||||||
Consolidated Total | $ | 411.1 | $ | 413.2 | $ | 1,178.50 | $ | 1,199.90 | ||||||||
Operating Income (Loss): | ||||||||||||||||
North America | $ | 112.3 | $ | 117.3 | $ | 282.8 | $ | 323 | ||||||||
Asia Pacific | 5.1 | 5.1 | 15.9 | (0.4 | ) | |||||||||||
Europe and Other International Markets | 19.7 | 17.3 | 49.4 | 46.1 | ||||||||||||
Total Segments | 137.1 | 139.7 | 348.1 | 368.7 | ||||||||||||
Corporate and Other (1) | (16.6 | ) | (30.0 | ) | (45.9 | ) | (95.3 | ) | ||||||||
Consolidated Total | 120.5 | 109.7 | 302.2 | 273.4 | ||||||||||||
Non-Operating Income (Expense), Net (2) | (10.2 | ) | (24.7 | ) | (30.8 | ) | (36.1 | ) | ||||||||
Income Before Provision for Income Taxes and Equity in Net Income of Affiliates | $ | 110.3 | $ | 85 | $ | 271.4 | $ | 237.3 | ||||||||
-1 | The following table summarizes “Corporate and Other:” | |||||||||||||||
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Corporate Costs | $ | (9.6 | ) | $ | (13.1 | ) | $ | (29.1 | ) | $ | (35.5 | ) | ||||
Restructuring Expense | (6.1 | ) | (4.8 | ) | (10.6 | ) | (23.2 | ) | ||||||||
Strategic Technology Investment or MaxCV | — | (6.7 | ) | — | (25.6 | ) | ||||||||||
Legal and Other Professional Fees and Shut-Down Costs Related to Matters in China | (0.9 | ) | (5.4 | ) | (6.2 | ) | (11.0 | ) | ||||||||
Total Corporate and Other | $ | (16.6 | ) | $ | (30.0 | ) | $ | (45.9 | ) | $ | (95.3 | ) | ||||
-2 | The following table summarizes “Non-Operating Income (Expense):” | |||||||||||||||
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Interest Income | $ | 0.3 | $ | 0.2 | $ | 0.9 | $ | 0.5 | ||||||||
Interest Expense | (10.3 | ) | (9.5 | ) | (30.2 | ) | (27.8 | ) | ||||||||
Other Income (Expense) - Net (a) | (0.2 | ) | (15.4 | ) | (1.5 | ) | (8.8 | ) | ||||||||
Non-Operating Income (Expense) - Net | $ | (10.2 | ) | $ | (24.7 | ) | $ | (30.8 | ) | $ | (36.1 | ) | ||||
(a) During the three month and nine month periods ended September 30, 2012, we recognized the reduction of a contractual receipt under the Tax Allocation Agreement between Moody's Corporation and D&B as it relates to the expiration of the statute of limitations for the tax years 2005 and 2006. | ||||||||||||||||
Supplemental Geographic and Customer Solution Set Information: | ||||||||||||||||
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Customer Solution Set Revenue: | ||||||||||||||||
North America: | ||||||||||||||||
Risk Management Solutions | $ | 176.7 | $ | 178.8 | $ | 510.8 | $ | 518.5 | ||||||||
Sales & Marketing Solutions | 129.1 | 129.5 | 356.9 | 354.3 | ||||||||||||
North America Core Revenue | 305.8 | 308.3 | 867.7 | 872.8 | ||||||||||||
Divested and Other Businesses | — | — | — | — | ||||||||||||
Total North America Revenue | 305.8 | 308.3 | 867.7 | 872.8 | ||||||||||||
Asia Pacific: | ||||||||||||||||
Risk Management Solutions | 38.2 | 38.1 | 116.4 | 111.6 | ||||||||||||
Sales & Marketing Solutions | 6.2 | 6.6 | 18.7 | 21 | ||||||||||||
Asia Pacific Core Revenue | 44.4 | 44.7 | 135.1 | 132.6 | ||||||||||||
Divested and Other Businesses (3) | — | 0.1 | — | 18.7 | ||||||||||||
Total Asia Pacific Revenue | 44.4 | 44.8 | 135.1 | 151.3 | ||||||||||||
Europe and Other International Markets: | ||||||||||||||||
Risk Management Solutions | 48.6 | 48.9 | 143.5 | 145.1 | ||||||||||||
Sales & Marketing Solutions | 12.3 | 11.2 | 32.2 | 30.7 | ||||||||||||
Europe and Other International Markets Core Revenue | 60.9 | 60.1 | 175.7 | 175.8 | ||||||||||||
Divested and Other Businesses | — | — | — | — | ||||||||||||
Total Europe and Other International Markets Revenue | 60.9 | 60.1 | 175.7 | 175.8 | ||||||||||||
Consolidated Total: | ||||||||||||||||
Risk Management Solutions | 263.5 | 265.8 | 770.7 | 775.2 | ||||||||||||
Sales & Marketing Solutions | 147.6 | 147.3 | 407.8 | 406 | ||||||||||||
Core Revenue | 411.1 | 413.1 | 1,178.50 | 1,181.20 | ||||||||||||
Divested and Other Businesses (3) | — | 0.1 | — | 18.7 | ||||||||||||
Consolidated Total Revenue | $ | 411.1 | $ | 413.2 | $ | 1,178.50 | $ | 1,199.90 | ||||||||
-3 | During the fiscal year ended 2012, we completed: (a) the sales of: (i) the domestic portion of our Japanese operations to Tokyo Shoko Research Ltd. ("TSR Ltd."); and (ii) a research and advisory services business in India; and (b) the shut-down of our Roadway operations. These businesses have been classified as “Divested and Other Businesses.” These Divested and Other Businesses contributed less than 1% and 12% to our Asia Pacific total revenue for the three month and nine month periods ended September 30, 2012, respectively. | |||||||||||||||
The following table represents Divested and Other Businesses revenue by solution set: | ||||||||||||||||
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Divested and Other Businesses: | ||||||||||||||||
Risk Management Solutions | $ | — | $ | 0.1 | $ | — | $ | 9.3 | ||||||||
Sales & Marketing Solutions | — | — | — | 9.4 | ||||||||||||
Total Divested and Other Businesses Revenue | $ | — | $ | 0.1 | $ | — | $ | 18.7 | ||||||||
September 30, | 31-Dec-12 | |||||||||||||||
2013 | ||||||||||||||||
Assets: | ||||||||||||||||
North America (4) | $ | 752.7 | $ | 795.4 | ||||||||||||
Asia Pacific (5) | 364.6 | 414.6 | ||||||||||||||
Europe and Other International Markets (6) | 404.5 | 365.7 | ||||||||||||||
Total Segments | 1,521.80 | 1,575.70 | ||||||||||||||
Corporate and Other (7) | 328.1 | 416.1 | ||||||||||||||
Consolidated Total | $ | 1,849.90 | $ | 1,991.80 | ||||||||||||
Goodwill: | ||||||||||||||||
North America | $ | 265.7 | $ | 266.5 | ||||||||||||
Asia Pacific (8) | 206.8 | 234 | ||||||||||||||
Europe and Other International Markets | 111.3 | 110.6 | ||||||||||||||
Consolidated Total | $ | 583.8 | $ | 611.1 | ||||||||||||
-4 | The decrease in assets in the North America segment to $752.7 million at September 30, 2013 from $795.4 million at December 31, 2012 was primarily due to a decrease in accounts receivable partially offset by increases in cash and computer software. | |||||||||||||||
-5 | The decrease in assets in the Asia Pacific segment to $364.6 million at September 30, 2013 from $414.6 million at December 31, 2012 was primarily due to the negative impact of foreign currency translation. | |||||||||||||||
-6 | The increase in assets in the Europe and Other International Markets segment to $404.5 million at September 30, 2013 from $365.7 million at December 31, 2012 was primarily due to an increase in cash partially offset by a decrease in accounts receivable. | |||||||||||||||
-7 | The decrease in assets in Corporate and Other to $328.1 million at September 30, 2013 from $416.1 million at December 31, 2012 was primarily due to a decrease in cash primarily attributed to bond interest and dividend payments. | |||||||||||||||
-8 | The decrease in goodwill in the Asia Pacific segment to $206.8 million at September 30, 2013 from $234.0 million at December 31, 2012 was primarily due to the negative impact of foreign currency translation. |
Financial_Instruments
Financial Instruments | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||
Financial Instruments | ' | ||||||||||||||||||||||||||||||||||||||
Financial Instruments | |||||||||||||||||||||||||||||||||||||||
We employ established policies and procedures to manage our exposure to changes in interest rates and foreign currencies. We use foreign exchange forward contracts to hedge short-term foreign currency denominated loans, investments and certain third-party and intercompany transactions. We may also use foreign exchange forward contracts to hedge our net investments in our foreign subsidiaries and foreign exchange option contracts to reduce the volatility that fluctuating foreign exchange rates may have on our international earnings streams. In addition, we may use interest rate derivatives to hedge a portion of the interest rate exposure on our outstanding debt or in anticipation of a future debt issuance, as discussed under “Interest Rate Risk Management” below. | |||||||||||||||||||||||||||||||||||||||
We do not use derivative financial instruments for trading or speculative purposes. If a hedging instrument ceases to qualify as a hedge in accordance with hedge accounting guidelines, any subsequent gains and losses are recognized currently in income. Collateral is generally not required for these types of instruments. | |||||||||||||||||||||||||||||||||||||||
By their nature, all such instruments involve risk, including the credit risk of non-performance by counterparties. However, at September 30, 2013 and December 31, 2012, there was no significant risk of loss in the event of non-performance of the counterparties to these financial instruments. We control our exposure to credit risk through monitoring procedures. | |||||||||||||||||||||||||||||||||||||||
Our trade receivables do not represent a significant concentration of credit risk at September 30, 2013 and December 31, 2012, because we sell to a large number of customers in different geographical locations and industries. | |||||||||||||||||||||||||||||||||||||||
Interest Rate Risk Management | |||||||||||||||||||||||||||||||||||||||
Our objective in managing exposure to interest rates is to limit the impact of interest rate changes on our earnings, cash flows and financial position, and to lower overall borrowing costs. To achieve these objectives, we maintain a policy that floating-rate debt be managed within a minimum and maximum range of our total debt exposure. To manage our exposure and limit volatility, we may use fixed-rate debt, floating-rate debt and/or interest rate swaps. We recognize all derivative instruments as either assets or liabilities at fair value in our unaudited consolidated balance sheet. As of September 30, 2013, we did not have any interest rate derivatives outstanding. | |||||||||||||||||||||||||||||||||||||||
Fair Value Hedges | |||||||||||||||||||||||||||||||||||||||
For interest rate derivative instruments that are designated and qualify as a fair value hedge, we assess quarterly whether the interest rate swaps are highly effective in offsetting changes in the fair value of the hedged debt. Changes in fair values of interest rate swap agreements that are designated fair value hedges are recognized in earnings as an adjustment of “Other Income (Expense) - Net” in our unaudited consolidated statement of operations and comprehensive income. The effectiveness of the hedge is monitored on an ongoing basis for hedge accounting purposes, and if the hedge is considered ineffective, we discontinue hedge accounting prospectively. | |||||||||||||||||||||||||||||||||||||||
In November 2010, we issued senior notes with a face value of $300 million that mature on November 15, 2015 (“the 2015 notes”). In November and December 2010, we entered into interest rate derivative transactions with aggregate notional amounts of $125 million. The objective of these hedges was to offset the change in fair value of the fixed rate 2015 notes attributable to changes in LIBOR. These transactions have been accounted for as fair value hedges. We have recognized the gain or loss on the derivative instruments, as well as the offsetting loss or gain on the hedged item, in “Other Income (Expense)—Net” in our consolidated statement of operations and comprehensive income. | |||||||||||||||||||||||||||||||||||||||
In March 2012, in connection with our objective to manage exposure to interest rate changes and our policy to manage our fixed and floating-rate debt mix, the interest rate derivatives discussed in the previous paragraph were terminated. This resulted in a gain of $0.3 million and the receipt of $5.0 million in cash on March 12, 2012, the swap termination settlement date. The gain of $0.3 million was recorded in “Other Income (Expense)—Net” in the consolidated statement of operations and comprehensive income during the year ended December 31, 2012. | |||||||||||||||||||||||||||||||||||||||
Approximately $0.8 million of derivative gains offset by a $0.5 million loss on the fair value adjustment related to the hedged debt were recorded through the date of termination in the results for the three months ended March 31, 2012. The $4.9 million adjustment in the carrying amount of the hedged debt at the date of termination is being amortized as an offset to “Interest Expense” in our consolidated statement of operations and comprehensive income over the remaining term of the 2015 notes. Approximately $0.9 million of amortization was recorded during the nine months ended September 30, 2013, resulting in a balance of $2.9 million in our unaudited consolidated balance sheet at September 30, 2013. | |||||||||||||||||||||||||||||||||||||||
Cash Flow Hedges | |||||||||||||||||||||||||||||||||||||||
For interest rate derivative instruments that are designated and qualify as a cash flow hedge, the effective portion of the periodic hedge remeasurement gains or losses on the derivative are reported as a component of other comprehensive income and reclassified to earnings in the same period or periods during which the hedged transaction affects earnings. Gains and losses on the derivative representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in our unaudited consolidated statement of operations and comprehensive income. | |||||||||||||||||||||||||||||||||||||||
Foreign Exchange Risk Management | |||||||||||||||||||||||||||||||||||||||
Our objective in managing exposure to foreign currency fluctuations is to reduce the volatility caused by foreign exchange rate changes on the earnings, cash flows and financial position of our global operations. We follow a policy of hedging balance sheet positions denominated in currencies other than the functional currency applicable to each of our various subsidiaries. In addition, we are subject to foreign exchange risk associated with our international earnings and net investments in our foreign subsidiaries. We use short-term foreign exchange forward and option contracts to execute our hedging strategies. Typically, these contracts have maturities of 12 months or less. These contracts are denominated primarily in the British pound sterling, the Euro and the Canadian dollar. The gains and losses on the forward contracts associated with the balance sheet positions are recorded in “Other Income (Expense) - Net” in our unaudited consolidated statement of operations and comprehensive income and are essentially offset by the losses and gains on the underlying foreign currency transactions. | |||||||||||||||||||||||||||||||||||||||
As in prior years, we have hedged substantially all balance sheet positions denominated in a currency other than the functional currency applicable to each of our various subsidiaries with short-term foreign exchange forward contracts. In addition, we may use foreign exchange option contracts to hedge certain foreign earnings streams and foreign exchange forward contracts to hedge certain net investment positions. The underlying transactions and the corresponding foreign exchange forward and option contracts are marked-to-market at the end of each quarter and the fair value impacts are reflected within our unaudited consolidated financial statements. | |||||||||||||||||||||||||||||||||||||||
As of September 30, 2013 and 2012, the notional amounts of our foreign exchange contracts were $286.6 million and $277.4 million, respectively. | |||||||||||||||||||||||||||||||||||||||
Fair Values of Derivative Instruments in the Consolidated Balance Sheet | |||||||||||||||||||||||||||||||||||||||
Asset Derivatives | Liability Derivatives | ||||||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | 30-Sep-13 | 31-Dec-12 | ||||||||||||||||||||||||||||||||||||
Balance Sheet | Fair Value | Balance Sheet | Fair Value | Balance Sheet | Fair Value | Balance Sheet | Fair Value | ||||||||||||||||||||||||||||||||
Location | Location | Location | Location | ||||||||||||||||||||||||||||||||||||
Derivatives not designated as hedging instruments | |||||||||||||||||||||||||||||||||||||||
Foreign exchange forward contracts | Other Current | $ | 0.5 | Other Current | $ | — | Other Accrued & | $ | 0.1 | Other Accrued & | $ | 0.4 | |||||||||||||||||||||||||||
Assets | Assets | Current Liabilities | Current Liabilities | ||||||||||||||||||||||||||||||||||||
Total derivatives not designated as hedging instruments | $ | 0.5 | $ | — | $ | 0.1 | $ | 0.4 | |||||||||||||||||||||||||||||||
Total Derivatives | $ | 0.5 | $ | — | $ | 0.1 | $ | 0.4 | |||||||||||||||||||||||||||||||
The Effect of Derivative Instruments on the Consolidated Statement of Operations and Comprehensive Income | |||||||||||||||||||||||||||||||||||||||
Gain or (Loss) Recognized in Income on Derivatives | |||||||||||||||||||||||||||||||||||||||
Derivatives in Fair | Location | For the Three Months Ended September 30, | For the Nine Months Ended September 30, | Hedged Item | Location | For the Three Months Ended September 30, | For the Nine Months Ended September 30, | ||||||||||||||||||||||||||||||||
Value Hedging | |||||||||||||||||||||||||||||||||||||||
Relationships | |||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||||
Interest rate contracts | Non-Operating | $ | — | $ | — | $ | — | $ | 0.8 | Fixed- | Non-Operating | $ | — | $ | — | $ | — | $ | (0.5 | ) | |||||||||||||||||||
Income (Expenses) | rate | Income (Expenses) | |||||||||||||||||||||||||||||||||||||
– Net | debt | – Net | |||||||||||||||||||||||||||||||||||||
Our foreign exchange forward and option contracts are not designated as hedging instruments under authoritative guidance. | |||||||||||||||||||||||||||||||||||||||
The Effect of Derivative Instruments on the Consolidated Statement of Operations and Comprehensive Income | |||||||||||||||||||||||||||||||||||||||
Derivatives Not Designated as Hedging | Location of Gain or (Loss) Recognized in | Amount of Gain or (Loss) Recognized in Income on Derivatives | |||||||||||||||||||||||||||||||||||||
Instruments | Income on Derivatives | ||||||||||||||||||||||||||||||||||||||
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | ||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||
Foreign exchange forward contracts | Non-Operating Income (Expenses) – Net | $ | (0.2 | ) | $ | 6.1 | $ | (5.4 | ) | $ | 7.9 | ||||||||||||||||||||||||||||
Foreign exchange option contracts | Non-Operating Income (Expenses) – Net | $ | — | $ | (0.2 | ) | $ | — | $ | (0.2 | ) | ||||||||||||||||||||||||||||
Fair Value of Financial Instruments | |||||||||||||||||||||||||||||||||||||||
Our financial assets and liabilities that are reflected in the consolidated financial statements include derivative financial instruments, cash and cash equivalents, accounts receivable, other receivables, accounts payable, short-term borrowings and long-term borrowings. We use short-term foreign exchange forward contracts to hedge short-term foreign currency-denominated intercompany loans and certain third-party and intercompany transactions and we use foreign exchange option contracts to reduce the volatility that fluctuating foreign exchange rates may have on our international earnings streams. Fair value for derivative financial instruments is determined utilizing a market approach. | |||||||||||||||||||||||||||||||||||||||
We have a process for determining fair values. Fair value is based upon quoted market prices, where available. If listed prices or quotes are not available, we use quotes from independent pricing vendors based on recent trading activity and other relevant information, including market interest rate curves and referenced credit spreads. | |||||||||||||||||||||||||||||||||||||||
In addition to utilizing external valuations, we conduct our own internal assessment of the reasonableness of the external valuations by utilizing a variety of valuation techniques, including Black-Scholes option pricing and discounted cash flow models that are consistently applied. Inputs to these models include observable market data, such as yield curves, and foreign exchange rates where applicable. Our assessments are designed to identify prices that do not accurately reflect the current market environment, those that have changed significantly from prior valuations and other anomalies that may indicate that a price may not be accurate. We also follow established routines for reviewing and reconfirming valuations with the pricing provider, if deemed appropriate. In addition, the pricing provider has an established challenge process in place for all valuations, which facilitates identification and resolution of potentially erroneous prices. Valuation adjustments may be made to ensure that financial instruments are recorded at fair value. These adjustments include amounts to reflect counterparty credit quality and our own creditworthiness and constraints on liquidity. For inactive markets that do not have observable pricing or sufficient trading volumes, or for positions that are subject to transfer restrictions, valuations are adjusted to reflect illiquidity and/or non-transferability. Such adjustments are generally based on available market evidence. In the absence of such evidence, management's best estimate will be used. | |||||||||||||||||||||||||||||||||||||||
The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while we believe our valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. | |||||||||||||||||||||||||||||||||||||||
The following table presents information about our assets and liabilities measured at fair value on a recurring basis as of September 30, 2013 and December 31, 2012, and indicates the fair value hierarchy of the valuation techniques utilized by us to determine such fair value. Level inputs, as defined by authoritative guidance, are as follows: | |||||||||||||||||||||||||||||||||||||||
Level Input: | Input Definition: | ||||||||||||||||||||||||||||||||||||||
Level I | Observable inputs utilizing quoted prices (unadjusted) for identical assets or liabilities in active markets at the measurement date. | ||||||||||||||||||||||||||||||||||||||
Level II | Inputs other than quoted prices included in Level I that are either directly or indirectly observable for the asset or liability through corroboration with market data at the measurement date. | ||||||||||||||||||||||||||||||||||||||
Level III | Unobservable inputs for the asset or liability in which little or no market data exists therefore requiring management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. | ||||||||||||||||||||||||||||||||||||||
In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. | |||||||||||||||||||||||||||||||||||||||
The following table summarizes fair value measurements by level at September 30, 2013 for assets and liabilities measured at fair value on a recurring basis: | |||||||||||||||||||||||||||||||||||||||
Quoted Prices in | Significant Other | Significant | Balance at September 30, 2013 | ||||||||||||||||||||||||||||||||||||
Active Markets | Observable | Unobservable | |||||||||||||||||||||||||||||||||||||
for Identical | Inputs (Level II) | Inputs | |||||||||||||||||||||||||||||||||||||
Assets (Level I) | (Level III) | ||||||||||||||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||||||||||
Cash Equivalents (1) | $ | 103.9 | $ | — | $ | — | $ | 103.9 | |||||||||||||||||||||||||||||||
Other Current Assets: | |||||||||||||||||||||||||||||||||||||||
Foreign Exchange Forwards (2) | $ | — | $ | 0.5 | $ | — | $ | 0.5 | |||||||||||||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||||||||||||||||
Other Accrued and Current Liabilities: | |||||||||||||||||||||||||||||||||||||||
Foreign Exchange Forwards (2) | $ | — | $ | 0.1 | $ | — | $ | 0.1 | |||||||||||||||||||||||||||||||
-1 | Cash equivalents represent fair value as it consists of highly liquid investments with an original maturity of three months or less. | ||||||||||||||||||||||||||||||||||||||
-2 | Primarily represents foreign currency forward contracts. Fair value is determined utilizing a market approach and considers a factor for nonperformance in the valuation. | ||||||||||||||||||||||||||||||||||||||
The following table summarizes fair value measurements by level at December 31, 2012 for assets and liabilities measured at fair value on a recurring basis: | |||||||||||||||||||||||||||||||||||||||
Quoted Prices in | Significant Other | Significant | Balance at December 31, 2012 | ||||||||||||||||||||||||||||||||||||
Active Markets | Observable | Unobservable | |||||||||||||||||||||||||||||||||||||
for Identical | Inputs (Level II) | Inputs | |||||||||||||||||||||||||||||||||||||
Assets (Level I) | (Level III) | ||||||||||||||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||||||||||
Cash Equivalents (1) | $ | 58.1 | $ | — | $ | — | $ | 58.1 | |||||||||||||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||||||||||||||||
Other Accrued and Current Liabilities: | |||||||||||||||||||||||||||||||||||||||
Foreign Exchange Forwards (2) | $ | — | $ | 0.4 | $ | — | $ | 0.4 | |||||||||||||||||||||||||||||||
-1 | Cash equivalents represent fair value as it consists of highly liquid investments with an original maturity of three months or less. | ||||||||||||||||||||||||||||||||||||||
-2 | Primarily represents foreign currency forward contracts. Fair value is determined utilizing a market approach and considers a factor for nonperformance in the valuation. | ||||||||||||||||||||||||||||||||||||||
At September 30, 2013 and December 31, 2012, the fair value of cash and cash equivalents, accounts receivable, other receivables and accounts payable approximated carrying value due to the short-term nature of these instruments. The estimated fair values of other financial instruments subject to fair value disclosures, determined based on valuation models using discounted cash flow methodologies with market data inputs from globally recognized data providers and third-party quotes from major financial institutions (categorized as Level II in the fair value hierarchy), are as follows: | |||||||||||||||||||||||||||||||||||||||
Balance at | |||||||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | ||||||||||||||||||||||||||||||||||||||
Carrying | Fair Value | Carrying | Fair Value | ||||||||||||||||||||||||||||||||||||
Amount (Asset) | (Asset) Liability | Amount (Asset) | (Asset) Liability | ||||||||||||||||||||||||||||||||||||
Liability | Liability | ||||||||||||||||||||||||||||||||||||||
Long-term Debt | $ | 1,046.80 | $ | 1,063.60 | $ | 1,046.50 | $ | 1,059.30 | |||||||||||||||||||||||||||||||
Credit Facilities | $ | 406.1 | $ | 405.4 | $ | 240.2 | $ | 237.7 | |||||||||||||||||||||||||||||||
Items Measured at Fair Value on a Nonrecurring Basis | |||||||||||||||||||||||||||||||||||||||
In addition to assets and liabilities that are recorded at fair value on a recurring basis, we are required to record assets and liabilities at fair value on a nonrecurring basis as required by GAAP. Generally, assets are recorded at fair value on a nonrecurring basis as a result of impairment charges. | |||||||||||||||||||||||||||||||||||||||
During the nine months ended September 30, 2013, we did not measure any assets or liabilities at fair value on a nonrecurring basis. | |||||||||||||||||||||||||||||||||||||||
During the nine months ended September 30, 2012, we recorded an impairment charge of $12.9 million related to the accounts receivable, intangible assets, prepaid costs and software for Roadway, an operation in our Greater China reporting unit. See Note 13 to our unaudited consolidated financial statements included in this Quarterly Report on Form 10-Q. We determined that the new cost basis of intangible assets, prepaid costs and software is zero based on Level III inputs (see “Fair Value of Financial Instruments” above for discussion on Level inputs) to measure fair value, as market data of these assets were not readily available. We wrote down the accounts receivable balance to its realizable value based on the probability of collecting from the customer accounts. Of the $12.9 million charge, $4.1 million was included in "Operating Costs" and $8.8 million was included in "Selling and Administrative Expenses" in our Asia Pacific segment. |
Other_Comprehensive_Income
Other Comprehensive Income | 9 Months Ended | ||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||
Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | ||||||||||||||||||
Comprehensive Income (Loss) Note [Text Block] | ' | ||||||||||||||||||
Other Comprehensive Income (Loss) | |||||||||||||||||||
The following table summarizes the changes in the accumulated balances for each component of accumulated other comprehensive income ("AOCI") as of September 30, 2013 and 2012: | |||||||||||||||||||
Foreign Currency Translation Adjustments | Defined Benefit Pension Plans | Derivative Financial Instruments | Total | ||||||||||||||||
Balance, December 31, 2011 | $ | (168.3 | ) | $ | (638.4 | ) | $ | — | $ | (806.7 | ) | ||||||||
Other Comprehensive Income (Loss) Before Reclassifications | 13.3 | (5.4 | ) | — | 7.9 | ||||||||||||||
Amounts Reclassified From Accumulated Other Comprehensive Income, net of tax | — | 13.2 | 1.2 | 14.4 | |||||||||||||||
Balance, September 30, 2012 | $ | (155.0 | ) | $ | (630.6 | ) | $ | 1.2 | $ | (784.4 | ) | ||||||||
Balance, December 31, 2012 | $ | (151.2 | ) | $ | (701.0 | ) | $ | 0.1 | $ | (852.1 | ) | ||||||||
Other Comprehensive Income (Loss) Before Reclassifications | (44.1 | ) | (5.5 | ) | — | (49.6 | ) | ||||||||||||
Amounts Reclassified From Accumulated Other Comprehensive Income, net of tax | — | 16.5 | — | 16.5 | |||||||||||||||
Balance, September 30, 2013 | $ | (195.3 | ) | $ | (690.0 | ) | $ | 0.1 | $ | (885.2 | ) | ||||||||
The following table summarizes the reclassifications out of AOCI as of September 30, 2013 and 2012: | |||||||||||||||||||
Details About Accumulated Other Comprehensive Income Components | Affected Line Item in the Statement Where Net Income is Presented | Amount Reclassified from Accumulated Other Comprehensive Income | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended | ||||||||||||||||||
September 30, | |||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||
Foreign Currency Translation Adjustments: | |||||||||||||||||||
Sale of Business | Other Income (Expense) – Net | $ | — | $ | — | $ | — | $ | — | ||||||||||
Defined Benefit Pension Plans: | |||||||||||||||||||
Amortization of Prior Service Costs, Pretax | Selling and Administrative Expenses | $ | (1.5 | ) | $ | (1.7 | ) | $ | (4.8 | ) | $ | (5.3 | ) | ||||||
Operating Expenses | (0.7 | ) | (0.6 | ) | (1.8 | ) | (1.8 | ) | |||||||||||
Amortization of Actuarial Gain/Loss | Selling and Administrative Expenses | 7 | 6.1 | 22.8 | 18.5 | ||||||||||||||
Operating Expenses | 3.7 | 2.1 | 8.8 | 6.3 | |||||||||||||||
Total Before Tax | 8.5 | 5.9 | 25 | 17.7 | |||||||||||||||
Tax (Expense) or Benefit | (3.0 | ) | (1.3 | ) | (8.5 | ) | (4.5 | ) | |||||||||||
Total After Tax | $ | 5.5 | $ | 4.6 | $ | 16.5 | $ | 13.2 | |||||||||||
Derivative Financial Instruments: | |||||||||||||||||||
Amortization of Cash Flow Hedges | Interest Expense | $ | — | $ | 0.4 | $ | — | $ | 1.2 | ||||||||||
Total Before Tax | — | 0.4 | — | 1.2 | |||||||||||||||
Tax (Expense) or Benefit | — | — | — | — | |||||||||||||||
Total After Tax | $ | — | $ | 0.4 | $ | — | $ | 1.2 | |||||||||||
Total Reclassifications for the Period, Net of Tax | $ | 5.5 | $ | 5 | $ | 16.5 | $ | 14.4 | |||||||||||
Divestitures_and_Other_Busines
Divestitures and Other Businesses | 9 Months Ended |
Sep. 30, 2013 | |
Text Block [Abstract] | ' |
Divestitures and Other Businesses | ' |
Divestitures and Other Businesses | |
Indian Research and Advisory Services Business | |
In September 2012, we sold substantially all of the assets and liabilities of our Indian Research and Advisory Services business for $0.5 million. As a result, we recorded a pre-tax gain of $0.2 million in "Other Income (Expense) - Net" in the consolidated statement of operations and comprehensive income during the year ended December 31, 2012. The Indian Research and Advisory Services business generated approximately $1.3 million in revenue during 2011. | |
Shanghai Roadway D&B Marketing Services Co Ltd. | |
On March 18, 2012, we announced we had temporarily suspended our Roadway operations in China, pending an investigation into allegations that its data collection practices may have violated local Chinese consumer data privacy laws. Thereafter, the Company decided to permanently cease the operations of Roadway. In addition, we have been reviewing certain allegations that we may have violated the Foreign Corrupt Practices Act and certain other laws in our China operations. As previously reported, we have voluntarily contacted the Securities and Exchange Commission and the United States Department of Justice to advise both agencies of our investigation. Our investigation remains ongoing and is being conducted at the direction of the Audit Committee. | |
For the nine months ended September 30, 2013, we incurred $6.2 million of legal and other professional fees related to matters in China. Additionally, during the year ended December 31, 2012, we incurred $13.5 million of legal and other professional fees and $2.1 million in local shut-down costs, as well as an impairment charge of $12.9 million related to accounts receivable, intangible assets, prepaid costs and software for Roadway, an operation in our Greater China reporting unit. For the year ended December 31, 2012, the Roadway business had $5.4 million of revenue and $14.5 million of operating loss. D&B acquired Roadway’s operations in 2009, and for 2011 Roadway accounted for approximately $22 million in revenue and $2 million in operating income. | |
On September 28, 2012, Roadway was charged in a Bill of Prosecution, along with five former employees, by the Shanghai District Prosecutor with illegally obtaining private information of Chinese citizens. On December 28, 2012, the Chinese court imposed a monetary fine on Roadway and fines and imprisonment on four former Roadway employees. A fifth former Roadway employee was separated from the case. | |
Domestic Portion of our Japanese Joint Venture | |
In February 2012, we completed the sale of the domestic portion of our Japan operations to TSR Ltd., our local joint venture partner since December 2007, for $4.5 million. As a result, we recorded a pre-tax gain of $3.0 million in "Other Income (Expense) – Net" in the consolidated statement of operations and comprehensive income during the year ended December 31, 2012. Our domestic Japanese operations generated approximately $64 million in revenue during 2011. | |
Simultaneously with closing this transaction, we entered into a ten-year commercial arrangement to provide TSR Ltd. with global data for its Japanese customers and to become the exclusive distributor of TSR Ltd. data to the Worldwide Network. From the date of this transaction, this arrangement has aggregate future cash payments of approximately $140 million. | |
AllBusiness.com, Inc. | |
In February 2012, we completed the sale of AllBusiness.com, Inc., a U.S. entity included in our North American reporting segment, for $0.4 million. As a result, we recorded a pre-tax loss of $0.4 million in "Other Income (Expense) – Net" in the consolidated statement of operations and comprehensive income during the year ended December 31, 2012. AllBusiness.com, Inc. generated approximately $4 million in revenue during 2011. | |
Chinese Market Research Joint Ventures | |
In January 2012, we completed the sale of our market research business in China, consisting of two joint venture companies, by selling our equity interests in such companies to our partner for a total purchase price of $5.0 million. As a result, we recorded a pre-tax gain of $1.4 million in "Other Income (Expense) – Net" in the consolidated statement of operations and comprehensive income during the year ended December 31, 2012. The joint ventures generated approximately $16 million in revenue during 2011. | |
Purisma Incorporated | |
In January 2012, we completed the sale of Purisma Incorporated, a U.S. entity included in our North American reporting segment, for $2.0 million. As a result, we recorded a pre-tax gain of $2.0 million in "Other Income (Expense) – Net" in the consolidated statement of operations and comprehensive income during the year ended December 31, 2012. Purisma Incorporated generated approximately $4 million in revenue during 2011. |
Subsequent_Events
Subsequent Events | 9 Months Ended |
Sep. 30, 2013 | |
Text Block [Abstract] | ' |
Subsequent Events | ' |
Subsequent Events | |
Dividend Declaration | |
In October 2013, the Board of Directors approved the declaration of a dividend of $0.40 per share of common stock for the fourth quarter of 2013. This cash dividend will be payable on December 13, 2013 to shareholders of record at the close of business on November 27, 2013. |
Restructuring_Charge_Tables
Restructuring Charge (Tables) | 9 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Text Block [Abstract] | ' | |||||||||||
Restructuring Reserves and Utilization Related to Financial Flexibility Initiatives | ' | |||||||||||
The following tables set forth, in accordance with ASC 712-10 and/or ASC 420-10, the restructuring reserves and utilization related to our Financial Flexibility initiatives: | ||||||||||||
Severance | Lease | Total | ||||||||||
and | Termination | |||||||||||
Termination | Obligations | |||||||||||
and Other | ||||||||||||
Exit Costs | ||||||||||||
Restructuring Charges: | ||||||||||||
Balance Remaining as of December 31, 2012 | $ | 9.4 | $ | 2.3 | $ | 11.7 | ||||||
Charge Taken during First Quarter 2013 | 0.6 | 1.7 | 2.3 | |||||||||
Payments/Asset Impairment during First Quarter 2013 (1) | (3.7 | ) | (0.8 | ) | (4.5 | ) | ||||||
Balance Remaining as of March 31, 2013 | $ | 6.3 | $ | 3.2 | $ | 9.5 | ||||||
Charge Taken during Second Quarter 2013 | 2.1 | 0.1 | 2.2 | |||||||||
Payments during Second Quarter 2013 | (3.0 | ) | (0.4 | ) | (3.4 | ) | ||||||
Balance Remaining as of June 30, 2013 | $ | 5.4 | $ | 2.9 | $ | 8.3 | ||||||
Charge Taken during Third Quarter 2013 | $ | 3.1 | $ | 3 | $ | 6.1 | ||||||
Payments during Third Quarter 2013 | (2.3 | ) | (1.8 | ) | (4.1 | ) | ||||||
Balance Remaining as of September 30, 2013 | $ | 6.2 | $ | 4.1 | $ | 10.3 | ||||||
Severance | Lease | Total | ||||||||||
and | Termination | |||||||||||
Termination | Obligations | |||||||||||
and Other | ||||||||||||
Exit Costs | ||||||||||||
Restructuring Charges: | ||||||||||||
Balance Remaining as of December 31, 2011 | $ | 8.3 | $ | 2.2 | $ | 10.5 | ||||||
Charge Taken during First Quarter 2012 | 6.7 | 2.4 | 9.1 | |||||||||
Payments during First Quarter 2012 | (4.0 | ) | (1.0 | ) | (5.0 | ) | ||||||
Balance Remaining as of March 31, 2012 | $ | 11 | $ | 3.6 | $ | 14.6 | ||||||
Charge Taken during Second Quarter 2012 | 9.2 | 0.1 | 9.3 | |||||||||
Payments during Second Quarter 2012 | (7.5 | ) | (0.8 | ) | (8.3 | ) | ||||||
Balance Remaining as of June 30, 2012 | $ | 12.7 | $ | 2.9 | $ | 15.6 | ||||||
Charge Taken during Third Quarter 2012 | $ | 1.6 | $ | 3.2 | $ | 4.8 | ||||||
Payments during Third Quarter 2012 | (6.7 | ) | (3.7 | ) | (10.4 | ) | ||||||
Balance Remaining as of September 30, 2012 | $ | 7.6 | $ | 2.4 | $ | 10 | ||||||
(1) We incurred an asset impairment of $0.5 million in the first quarter of 2013 related to the termination of a lease. |
Notes_Payable_and_Indebtedness1
Notes Payable and Indebtedness (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Text Block [Abstract] | ' | |||||||
Borrowings | ' | |||||||
Our borrowings are summarized in the following table: | ||||||||
September 30, | 31-Dec-12 | |||||||
2013 | ||||||||
Debt Maturing Within One Year: | ||||||||
Other | $ | 0.1 | $ | 0.2 | ||||
Total Debt Maturing Within One Year | $ | 0.1 | $ | 0.2 | ||||
Debt Maturing After One Year: | ||||||||
Long-Term Fixed-Rate Notes (Net of a $3.2 million and $3.5 million discount as of September 30, 2013 and December 31, 2012, respectively) | $ | 1,046.80 | $ | 1,046.50 | ||||
Fair Value Adjustment Related to Hedged Debt | 2.9 | 3.8 | ||||||
Credit Facility | 406.1 | 240.2 | ||||||
Other | 0.1 | 0.2 | ||||||
Total Debt Maturing After One Year | $ | 1,455.90 | $ | 1,290.70 | ||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||||||||||
Earnings Per Share | ' | ||||||||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||
Net Income Attributable to D&B | $ | 72.8 | $ | 79.6 | $ | 183.2 | $ | 199.5 | |||||||||||||||||||||
Less: Allocation to Participating Securities | — | — | — | (0.1 | ) | ||||||||||||||||||||||||
Net Income Attributable to D&B Common Shareholders – Basic and Diluted | $ | 72.8 | $ | 79.6 | $ | 183.2 | $ | 199.4 | |||||||||||||||||||||
Weighted Average Number of Shares Outstanding – Basic | 38.5 | 44.8 | 39.5 | 46.4 | |||||||||||||||||||||||||
Dilutive Effect of Our Stock Incentive Plans | 0.4 | 0.4 | 0.4 | 0.4 | |||||||||||||||||||||||||
Weighted Average Number of Shares Outstanding – Diluted | 38.9 | 45.2 | 39.9 | 46.8 | |||||||||||||||||||||||||
Basic Earnings Per Share of Common Stock Attributable to D&B Common Shareholders | $ | 1.89 | $ | 1.77 | $ | 4.64 | $ | 4.29 | |||||||||||||||||||||
Diluted Earnings Per Share of Common Stock Attributable to D&B Common Shareholders | $ | 1.87 | $ | 1.76 | $ | 4.59 | $ | 4.26 | |||||||||||||||||||||
Share Repurchases | ' | ||||||||||||||||||||||||||||
Our share repurchases were as follows: | |||||||||||||||||||||||||||||
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | ||||||||||||||||||||||||||||
Program | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||
Shares | $ Amount | Shares | $ Amount | Shares | $ Amount | Shares | $ Amount | ||||||||||||||||||||||
(Dollar amounts in millions) | (Dollar amounts in millions) | ||||||||||||||||||||||||||||
Share Repurchase Programs (a) | 528,795 | $ | 55 | 435,733 | $ | 36 | 3,045,926 | $ | 270.1 | 3,404,436 | $ | 236 | |||||||||||||||||
Repurchases to Mitigate the Dilutive Effect of the Shares Issued Under Our Stock Incentive Plans and Employee Stock Purchase Plan (“ESPP”) (b) | 192,450 | 20 | — | — | 899,087 | 88 | 59,563 | 4 | |||||||||||||||||||||
Total Repurchases | 721,245 | $ | 75 | 435,733 | $ | 36 | 3,945,013 | $ | 358.1 | 3,463,999 | $ | 240 | |||||||||||||||||
(a) | In August 2012, our Board of Directors approved a $500 million increase to our then existing $500 million share repurchase program, for a total program authorization of $1 billion. The then existing $500 million share repurchase program was approved by our Board of Directors in October 2011 and commenced in November 2011 upon completion of our previous $200 million share repurchase program. We anticipate that this program will be completed by mid-2014. | ||||||||||||||||||||||||||||
(b) | In May 2010, our Board of Directors approved a four-year, five million share repurchase program to mitigate the dilutive effect of the shares issued under our stock incentive plans and ESPP. This program commenced in October 2010 and expires in October 2014. |
Other_Accrued_and_Current_Liab1
Other Accrued and Current Liabilities (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Text Block [Abstract] | ' | |||||||
Schedule of Accrued Liabilities [Table Text Block] | ' | |||||||
Other Accrued and Current Liabilities | ||||||||
September 30, | 31-Dec-12 | |||||||
2013 | ||||||||
Restructuring Accruals | $ | 10.3 | $ | 11.7 | ||||
Professional Fees | 35.7 | 37.4 | ||||||
Operating Expenses | 24.2 | 25.5 | ||||||
Bond Interest Payable (1) | 12.5 | 3.4 | ||||||
Other Accrued Liabilities (2) | 51.4 | 40.9 | ||||||
$ | 134.1 | $ | 118.9 | |||||
-1 | The increase in Bond Interest Payable from December 31, 2012 to September 30, 2013 primarily reflects the absence, from the December 31, 2012 balance, of interest associated with our 2013 notes which were retired at December 31, 2012, and the timing of interest accrual periods associated with our 2017 notes and 2022 notes which were issued in December 2012. | |||||||
-2 | The increase in Other Accrued Liabilities from December 31, 2012 to September 30, 2013 was primarily attributed to the purchase of perpetual licenses of third-party software. |
Pension_and_Postretirement_Ben1
Pension and Postretirement Benefits (Tables) | 9 Months Ended | |||||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||||
Text Block [Abstract] | ' | |||||||||||||||||||||||||||||||
Components of Net Periodic (Income) Cost Associated with Pension Plans and Postretirement Benefit Obligations | ' | |||||||||||||||||||||||||||||||
The following table sets forth the components of the net periodic cost (income) associated with our pension plans and our postretirement benefit obligations: | ||||||||||||||||||||||||||||||||
Pension Plans | Postretirement Benefit Obligations | |||||||||||||||||||||||||||||||
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||
Components of Net Periodic Cost (Income): | ||||||||||||||||||||||||||||||||
Service Cost | $ | 0.9 | $ | 1.3 | $ | 3.5 | $ | 4.4 | $ | 0.2 | $ | 0.3 | $ | 0.6 | $ | 0.5 | ||||||||||||||||
Interest Cost | 17.5 | 19 | 52.4 | 56.5 | 0.3 | 0.1 | 0.6 | 0.5 | ||||||||||||||||||||||||
Expected Return on Plan Assets | (23.4 | ) | (25.0 | ) | (70.3 | ) | (74.7 | ) | — | — | — | — | ||||||||||||||||||||
Amortization of Prior Service Cost (Credit) | 0.1 | 0.1 | 0.3 | 0.3 | (2.3 | ) | (2.4 | ) | (6.9 | ) | (7.4 | ) | ||||||||||||||||||||
Recognized Actuarial Loss (Gain) | 11 | 9 | 32.7 | 26.7 | (0.3 | ) | (0.9 | ) | (1.1 | ) | (1.9 | ) | ||||||||||||||||||||
Net Periodic Cost (Income) | $ | 6.1 | $ | 4.4 | $ | 18.6 | $ | 13.2 | $ | (2.1 | ) | $ | (2.9 | ) | $ | (6.8 | ) | $ | (8.3 | ) | ||||||||||||
Segment_Information_Tables
Segment Information (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Text Block [Abstract] | ' | |||||||||||||||
Segment Information, Revenue and Operating Income (Loss) | ' | |||||||||||||||
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Revenue: | ||||||||||||||||
North America | $ | 305.8 | $ | 308.3 | $ | 867.7 | $ | 872.8 | ||||||||
Asia Pacific | 44.4 | 44.7 | 135.1 | 132.6 | ||||||||||||
Europe and Other International Markets | 60.9 | 60.1 | 175.7 | 175.8 | ||||||||||||
Consolidated Core | 411.1 | 413.1 | 1,178.50 | 1,181.20 | ||||||||||||
Divested and Other Businesses | — | 0.1 | — | 18.7 | ||||||||||||
Consolidated Total | $ | 411.1 | $ | 413.2 | $ | 1,178.50 | $ | 1,199.90 | ||||||||
Operating Income (Loss): | ||||||||||||||||
North America | $ | 112.3 | $ | 117.3 | $ | 282.8 | $ | 323 | ||||||||
Asia Pacific | 5.1 | 5.1 | 15.9 | (0.4 | ) | |||||||||||
Europe and Other International Markets | 19.7 | 17.3 | 49.4 | 46.1 | ||||||||||||
Total Segments | 137.1 | 139.7 | 348.1 | 368.7 | ||||||||||||
Corporate and Other (1) | (16.6 | ) | (30.0 | ) | (45.9 | ) | (95.3 | ) | ||||||||
Consolidated Total | 120.5 | 109.7 | 302.2 | 273.4 | ||||||||||||
Non-Operating Income (Expense), Net (2) | (10.2 | ) | (24.7 | ) | (30.8 | ) | (36.1 | ) | ||||||||
Income Before Provision for Income Taxes and Equity in Net Income of Affiliates | $ | 110.3 | $ | 85 | $ | 271.4 | $ | 237.3 | ||||||||
-1 | The following table summarizes “Corporate and Other:” | |||||||||||||||
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Corporate Costs | $ | (9.6 | ) | $ | (13.1 | ) | $ | (29.1 | ) | $ | (35.5 | ) | ||||
Restructuring Expense | (6.1 | ) | (4.8 | ) | (10.6 | ) | (23.2 | ) | ||||||||
Strategic Technology Investment or MaxCV | — | (6.7 | ) | — | (25.6 | ) | ||||||||||
Legal and Other Professional Fees and Shut-Down Costs Related to Matters in China | (0.9 | ) | (5.4 | ) | (6.2 | ) | (11.0 | ) | ||||||||
Total Corporate and Other | $ | (16.6 | ) | $ | (30.0 | ) | $ | (45.9 | ) | $ | (95.3 | ) | ||||
-2 | The following table summarizes “Non-Operating Income (Expense):” | |||||||||||||||
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Interest Income | $ | 0.3 | $ | 0.2 | $ | 0.9 | $ | 0.5 | ||||||||
Interest Expense | (10.3 | ) | (9.5 | ) | (30.2 | ) | (27.8 | ) | ||||||||
Other Income (Expense) - Net (a) | (0.2 | ) | (15.4 | ) | (1.5 | ) | (8.8 | ) | ||||||||
Non-Operating Income (Expense) - Net | $ | (10.2 | ) | $ | (24.7 | ) | $ | (30.8 | ) | $ | (36.1 | ) | ||||
Supplemental Geographic and Customer Solution Set Information | ' | |||||||||||||||
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Customer Solution Set Revenue: | ||||||||||||||||
North America: | ||||||||||||||||
Risk Management Solutions | $ | 176.7 | $ | 178.8 | $ | 510.8 | $ | 518.5 | ||||||||
Sales & Marketing Solutions | 129.1 | 129.5 | 356.9 | 354.3 | ||||||||||||
North America Core Revenue | 305.8 | 308.3 | 867.7 | 872.8 | ||||||||||||
Divested and Other Businesses | — | — | — | — | ||||||||||||
Total North America Revenue | 305.8 | 308.3 | 867.7 | 872.8 | ||||||||||||
Asia Pacific: | ||||||||||||||||
Risk Management Solutions | 38.2 | 38.1 | 116.4 | 111.6 | ||||||||||||
Sales & Marketing Solutions | 6.2 | 6.6 | 18.7 | 21 | ||||||||||||
Asia Pacific Core Revenue | 44.4 | 44.7 | 135.1 | 132.6 | ||||||||||||
Divested and Other Businesses (3) | — | 0.1 | — | 18.7 | ||||||||||||
Total Asia Pacific Revenue | 44.4 | 44.8 | 135.1 | 151.3 | ||||||||||||
Europe and Other International Markets: | ||||||||||||||||
Risk Management Solutions | 48.6 | 48.9 | 143.5 | 145.1 | ||||||||||||
Sales & Marketing Solutions | 12.3 | 11.2 | 32.2 | 30.7 | ||||||||||||
Europe and Other International Markets Core Revenue | 60.9 | 60.1 | 175.7 | 175.8 | ||||||||||||
Divested and Other Businesses | — | — | — | — | ||||||||||||
Total Europe and Other International Markets Revenue | 60.9 | 60.1 | 175.7 | 175.8 | ||||||||||||
Consolidated Total: | ||||||||||||||||
Risk Management Solutions | 263.5 | 265.8 | 770.7 | 775.2 | ||||||||||||
Sales & Marketing Solutions | 147.6 | 147.3 | 407.8 | 406 | ||||||||||||
Core Revenue | 411.1 | 413.1 | 1,178.50 | 1,181.20 | ||||||||||||
Divested and Other Businesses (3) | — | 0.1 | — | 18.7 | ||||||||||||
Consolidated Total Revenue | $ | 411.1 | $ | 413.2 | $ | 1,178.50 | $ | 1,199.90 | ||||||||
-3 | During the fiscal year ended 2012, we completed: (a) the sales of: (i) the domestic portion of our Japanese operations to Tokyo Shoko Research Ltd. ("TSR Ltd."); and (ii) a research and advisory services business in India; and (b) the shut-down of our Roadway operations. These businesses have been classified as “Divested and Other Businesses.” These Divested and Other Businesses contributed less than 1% and 12% to our Asia Pacific total revenue for the three month and nine month periods ended September 30, 2012, respectively. | |||||||||||||||
The following table represents Divested and Other Businesses revenue by solution set: | ||||||||||||||||
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Divested and Other Businesses: | ||||||||||||||||
Risk Management Solutions | $ | — | $ | 0.1 | $ | — | $ | 9.3 | ||||||||
Sales & Marketing Solutions | — | — | — | 9.4 | ||||||||||||
Total Divested and Other Businesses Revenue | $ | — | $ | 0.1 | $ | — | $ | 18.7 | ||||||||
September 30, | 31-Dec-12 | |||||||||||||||
2013 | ||||||||||||||||
Assets: | ||||||||||||||||
North America (4) | $ | 752.7 | $ | 795.4 | ||||||||||||
Asia Pacific (5) | 364.6 | 414.6 | ||||||||||||||
Europe and Other International Markets (6) | 404.5 | 365.7 | ||||||||||||||
Total Segments | 1,521.80 | 1,575.70 | ||||||||||||||
Corporate and Other (7) | 328.1 | 416.1 | ||||||||||||||
Consolidated Total | $ | 1,849.90 | $ | 1,991.80 | ||||||||||||
Goodwill: | ||||||||||||||||
North America | $ | 265.7 | $ | 266.5 | ||||||||||||
Asia Pacific (8) | 206.8 | 234 | ||||||||||||||
Europe and Other International Markets | 111.3 | 110.6 | ||||||||||||||
Consolidated Total | $ | 583.8 | $ | 611.1 | ||||||||||||
-4 | The decrease in assets in the North America segment to $752.7 million at September 30, 2013 from $795.4 million at December 31, 2012 was primarily due to a decrease in accounts receivable partially offset by increases in cash and computer software. | |||||||||||||||
-5 | The decrease in assets in the Asia Pacific segment to $364.6 million at September 30, 2013 from $414.6 million at December 31, 2012 was primarily due to the negative impact of foreign currency translation. | |||||||||||||||
-6 | The increase in assets in the Europe and Other International Markets segment to $404.5 million at September 30, 2013 from $365.7 million at December 31, 2012 was primarily due to an increase in cash partially offset by a decrease in accounts receivable. | |||||||||||||||
-7 | The decrease in assets in Corporate and Other to $328.1 million at September 30, 2013 from $416.1 million at December 31, 2012 was primarily due to a decrease in cash primarily attributed to bond interest and dividend payments. | |||||||||||||||
-8 | The decrease in goodwill in the Asia Pacific segment to $206.8 million at September 30, 2013 from $234.0 million at December 31, 2012 was primarily due to the negative impact of foreign currency translation. |
Financial_Instruments_Tables
Financial Instruments (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||
Fair Values of Derivative Instruments in Consolidated Balance Sheet | ' | ||||||||||||||||||||||||||||||||||||||
Fair Values of Derivative Instruments in the Consolidated Balance Sheet | |||||||||||||||||||||||||||||||||||||||
Asset Derivatives | Liability Derivatives | ||||||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | 30-Sep-13 | 31-Dec-12 | ||||||||||||||||||||||||||||||||||||
Balance Sheet | Fair Value | Balance Sheet | Fair Value | Balance Sheet | Fair Value | Balance Sheet | Fair Value | ||||||||||||||||||||||||||||||||
Location | Location | Location | Location | ||||||||||||||||||||||||||||||||||||
Derivatives not designated as hedging instruments | |||||||||||||||||||||||||||||||||||||||
Foreign exchange forward contracts | Other Current | $ | 0.5 | Other Current | $ | — | Other Accrued & | $ | 0.1 | Other Accrued & | $ | 0.4 | |||||||||||||||||||||||||||
Assets | Assets | Current Liabilities | Current Liabilities | ||||||||||||||||||||||||||||||||||||
Total derivatives not designated as hedging instruments | $ | 0.5 | $ | — | $ | 0.1 | $ | 0.4 | |||||||||||||||||||||||||||||||
Total Derivatives | $ | 0.5 | $ | — | $ | 0.1 | $ | 0.4 | |||||||||||||||||||||||||||||||
Effect of Derivative Instruments on Consolidated Statement of Operations | ' | ||||||||||||||||||||||||||||||||||||||
The Effect of Derivative Instruments on the Consolidated Statement of Operations and Comprehensive Income | |||||||||||||||||||||||||||||||||||||||
Gain or (Loss) Recognized in Income on Derivatives | |||||||||||||||||||||||||||||||||||||||
Derivatives in Fair | Location | For the Three Months Ended September 30, | For the Nine Months Ended September 30, | Hedged Item | Location | For the Three Months Ended September 30, | For the Nine Months Ended September 30, | ||||||||||||||||||||||||||||||||
Value Hedging | |||||||||||||||||||||||||||||||||||||||
Relationships | |||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||||
Interest rate contracts | Non-Operating | $ | — | $ | — | $ | — | $ | 0.8 | Fixed- | Non-Operating | $ | — | $ | — | $ | — | $ | (0.5 | ) | |||||||||||||||||||
Income (Expenses) | rate | Income (Expenses) | |||||||||||||||||||||||||||||||||||||
– Net | debt | – Net | |||||||||||||||||||||||||||||||||||||
Our foreign exchange forward and option contracts are not designated as hedging instruments under authoritative guidance. | |||||||||||||||||||||||||||||||||||||||
The Effect of Derivative Instruments on the Consolidated Statement of Operations and Comprehensive Income | |||||||||||||||||||||||||||||||||||||||
Derivatives Not Designated as Hedging | Location of Gain or (Loss) Recognized in | Amount of Gain or (Loss) Recognized in Income on Derivatives | |||||||||||||||||||||||||||||||||||||
Instruments | Income on Derivatives | ||||||||||||||||||||||||||||||||||||||
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | ||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||
Foreign exchange forward contracts | Non-Operating Income (Expenses) – Net | $ | (0.2 | ) | $ | 6.1 | $ | (5.4 | ) | $ | 7.9 | ||||||||||||||||||||||||||||
Foreign exchange option contracts | Non-Operating Income (Expenses) – Net | $ | — | $ | (0.2 | ) | $ | — | $ | (0.2 | ) | ||||||||||||||||||||||||||||
Assets and Liabilities Measured at Fair Value on Recurring Basis | ' | ||||||||||||||||||||||||||||||||||||||
The following table summarizes fair value measurements by level at September 30, 2013 for assets and liabilities measured at fair value on a recurring basis: | |||||||||||||||||||||||||||||||||||||||
Quoted Prices in | Significant Other | Significant | Balance at September 30, 2013 | ||||||||||||||||||||||||||||||||||||
Active Markets | Observable | Unobservable | |||||||||||||||||||||||||||||||||||||
for Identical | Inputs (Level II) | Inputs | |||||||||||||||||||||||||||||||||||||
Assets (Level I) | (Level III) | ||||||||||||||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||||||||||
Cash Equivalents (1) | $ | 103.9 | $ | — | $ | — | $ | 103.9 | |||||||||||||||||||||||||||||||
Other Current Assets: | |||||||||||||||||||||||||||||||||||||||
Foreign Exchange Forwards (2) | $ | — | $ | 0.5 | $ | — | $ | 0.5 | |||||||||||||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||||||||||||||||
Other Accrued and Current Liabilities: | |||||||||||||||||||||||||||||||||||||||
Foreign Exchange Forwards (2) | $ | — | $ | 0.1 | $ | — | $ | 0.1 | |||||||||||||||||||||||||||||||
-1 | Cash equivalents represent fair value as it consists of highly liquid investments with an original maturity of three months or less. | ||||||||||||||||||||||||||||||||||||||
-2 | Primarily represents foreign currency forward contracts. Fair value is determined utilizing a market approach and considers a factor for nonperformance in the valuation. | ||||||||||||||||||||||||||||||||||||||
The following table summarizes fair value measurements by level at December 31, 2012 for assets and liabilities measured at fair value on a recurring basis: | |||||||||||||||||||||||||||||||||||||||
Quoted Prices in | Significant Other | Significant | Balance at December 31, 2012 | ||||||||||||||||||||||||||||||||||||
Active Markets | Observable | Unobservable | |||||||||||||||||||||||||||||||||||||
for Identical | Inputs (Level II) | Inputs | |||||||||||||||||||||||||||||||||||||
Assets (Level I) | (Level III) | ||||||||||||||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||||||||||
Cash Equivalents (1) | $ | 58.1 | $ | — | $ | — | $ | 58.1 | |||||||||||||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||||||||||||||||
Other Accrued and Current Liabilities: | |||||||||||||||||||||||||||||||||||||||
Foreign Exchange Forwards (2) | $ | — | $ | 0.4 | $ | — | $ | 0.4 | |||||||||||||||||||||||||||||||
-1 | Cash equivalents represent fair value as it consists of highly liquid investments with an original maturity of three months or less. | ||||||||||||||||||||||||||||||||||||||
-2 | Primarily represents foreign currency forward contracts. Fair value is determined utilizing a market approach and considers a factor for nonperformance in the valuation. | ||||||||||||||||||||||||||||||||||||||
Carrying Amount and Estimated Fair Value of Asset (Liability) | ' | ||||||||||||||||||||||||||||||||||||||
The estimated fair values of other financial instruments subject to fair value disclosures, determined based on valuation models using discounted cash flow methodologies with market data inputs from globally recognized data providers and third-party quotes from major financial institutions (categorized as Level II in the fair value hierarchy), are as follows: | |||||||||||||||||||||||||||||||||||||||
Balance at | |||||||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | ||||||||||||||||||||||||||||||||||||||
Carrying | Fair Value | Carrying | Fair Value | ||||||||||||||||||||||||||||||||||||
Amount (Asset) | (Asset) Liability | Amount (Asset) | (Asset) Liability | ||||||||||||||||||||||||||||||||||||
Liability | Liability | ||||||||||||||||||||||||||||||||||||||
Long-term Debt | $ | 1,046.80 | $ | 1,063.60 | $ | 1,046.50 | $ | 1,059.30 | |||||||||||||||||||||||||||||||
Credit Facilities | $ | 406.1 | $ | 405.4 | $ | 240.2 | $ | 237.7 | |||||||||||||||||||||||||||||||
Other_Comprehensive_Income_Tab
Other Comprehensive Income (Tables) | 9 Months Ended | ||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||
Reclassifications out of AOCI [Line Items] | ' | ||||||||||||||||||
Reclassifications out of AOCI [Table Text Block] | ' | ||||||||||||||||||
The following table summarizes the reclassifications out of AOCI as of September 30, 2013 and 2012: | |||||||||||||||||||
Details About Accumulated Other Comprehensive Income Components | Affected Line Item in the Statement Where Net Income is Presented | Amount Reclassified from Accumulated Other Comprehensive Income | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended | ||||||||||||||||||
September 30, | |||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||
Foreign Currency Translation Adjustments: | |||||||||||||||||||
Sale of Business | Other Income (Expense) – Net | $ | — | $ | — | $ | — | $ | — | ||||||||||
Defined Benefit Pension Plans: | |||||||||||||||||||
Amortization of Prior Service Costs, Pretax | Selling and Administrative Expenses | $ | (1.5 | ) | $ | (1.7 | ) | $ | (4.8 | ) | $ | (5.3 | ) | ||||||
Operating Expenses | (0.7 | ) | (0.6 | ) | (1.8 | ) | (1.8 | ) | |||||||||||
Amortization of Actuarial Gain/Loss | Selling and Administrative Expenses | 7 | 6.1 | 22.8 | 18.5 | ||||||||||||||
Operating Expenses | 3.7 | 2.1 | 8.8 | 6.3 | |||||||||||||||
Total Before Tax | 8.5 | 5.9 | 25 | 17.7 | |||||||||||||||
Tax (Expense) or Benefit | (3.0 | ) | (1.3 | ) | (8.5 | ) | (4.5 | ) | |||||||||||
Total After Tax | $ | 5.5 | $ | 4.6 | $ | 16.5 | $ | 13.2 | |||||||||||
Derivative Financial Instruments: | |||||||||||||||||||
Amortization of Cash Flow Hedges | Interest Expense | $ | — | $ | 0.4 | $ | — | $ | 1.2 | ||||||||||
Total Before Tax | — | 0.4 | — | 1.2 | |||||||||||||||
Tax (Expense) or Benefit | — | — | — | — | |||||||||||||||
Total After Tax | $ | — | $ | 0.4 | $ | — | $ | 1.2 | |||||||||||
Total Reclassifications for the Period, Net of Tax | $ | 5.5 | $ | 5 | $ | 16.5 | $ | 14.4 | |||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | ||||||||||||||||||
The following table summarizes the changes in the accumulated balances for each component of accumulated other comprehensive income ("AOCI") as of September 30, 2013 and 2012: | |||||||||||||||||||
Foreign Currency Translation Adjustments | Defined Benefit Pension Plans | Derivative Financial Instruments | Total | ||||||||||||||||
Balance, December 31, 2011 | $ | (168.3 | ) | $ | (638.4 | ) | $ | — | $ | (806.7 | ) | ||||||||
Other Comprehensive Income (Loss) Before Reclassifications | 13.3 | (5.4 | ) | — | 7.9 | ||||||||||||||
Amounts Reclassified From Accumulated Other Comprehensive Income, net of tax | — | 13.2 | 1.2 | 14.4 | |||||||||||||||
Balance, September 30, 2012 | $ | (155.0 | ) | $ | (630.6 | ) | $ | 1.2 | $ | (784.4 | ) | ||||||||
Balance, December 31, 2012 | $ | (151.2 | ) | $ | (701.0 | ) | $ | 0.1 | $ | (852.1 | ) | ||||||||
Other Comprehensive Income (Loss) Before Reclassifications | (44.1 | ) | (5.5 | ) | — | (49.6 | ) | ||||||||||||
Amounts Reclassified From Accumulated Other Comprehensive Income, net of tax | — | 16.5 | — | 16.5 | |||||||||||||||
Balance, September 30, 2013 | $ | (195.3 | ) | $ | (690.0 | ) | $ | 0.1 | $ | (885.2 | ) | ||||||||
Basis_of_Presentation_Addition
Basis of Presentation - Additional Information (Detail) | 3 Months Ended |
Sep. 30, 2013 | |
segment | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ' |
Number of Operating Segments | 3 |
Restructuring_Charge_Additiona
Restructuring Charge - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
person | person | person | person | |||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring Charge | $6.10 | $2.20 | $2.30 | $4.80 | $9.30 | $9.10 | $10.60 | $23.20 |
Number of employees exited | 40 | ' | ' | 35 | ' | ' | 100 | 655 |
Severance | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring Charge | 3.1 | ' | ' | 1.6 | ' | ' | 5.8 | 12.8 |
One-time Termination Benefits [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring Charge | ' | ' | ' | ' | ' | ' | ' | 4.7 |
Severance and Termination | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring Charge | 3.1 | 2.1 | 0.6 | 1.6 | 9.2 | 6.7 | ' | ' |
Number of employees impacted | 65 | ' | ' | 50 | ' | ' | 130 | 670 |
Lease Termination Obligations and Other Exit Costs | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring Charge | $3 | $0.10 | $1.70 | $3.20 | $0.10 | $2.40 | $4.80 | $5.70 |
Restructuring_Reserves_and_Uti
Restructuring Reserves and Utilization Related to Financial Flexibility Initiatives (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 30, 2012 | |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Impairment charges | ' | ' | ' | ' | ' | ' | $0 | $16.10 | ' | |
Restructuring Reserve [Rollforward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Beginning Balance | 8.3 | 9.5 | 11.7 | 15.6 | ' | 10.5 | 11.7 | 10.5 | 14.6 | |
Charge Taken during the period | 6.1 | 2.2 | 2.3 | 4.8 | 9.3 | 9.1 | 10.6 | 23.2 | ' | |
Payments during the period | -4.1 | -3.4 | ' | -10.4 | -8.3 | -5 | -11.5 | -23.7 | ' | |
Ending Balance | 10.3 | 8.3 | 9.5 | 10 | 15.6 | ' | 10.3 | 10 | 14.6 | |
Payments for Restructuring and Asset Impairment Related to Lease Termination | ' | ' | -4.5 | [1] | ' | ' | ' | ' | ' | ' |
Severance and Termination | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Restructuring Reserve [Rollforward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Beginning Balance | 5.4 | 6.3 | 9.4 | 12.7 | ' | 8.3 | 9.4 | 8.3 | 11 | |
Charge Taken during the period | 3.1 | 2.1 | 0.6 | 1.6 | 9.2 | 6.7 | ' | ' | ' | |
Payments during the period | -2.3 | -3 | ' | -6.7 | -7.5 | -4 | ' | ' | ' | |
Ending Balance | 6.2 | 5.4 | 6.3 | 7.6 | 12.7 | ' | 6.2 | 7.6 | 11 | |
Payments for Restructuring and Asset Impairment Related to Lease Termination | ' | ' | -3.7 | [1] | ' | ' | ' | ' | ' | ' |
Lease Termination Obligations and Other Exit Costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Impairment charges | ' | ' | 0.5 | ' | ' | ' | ' | ' | ' | |
Restructuring Reserve [Rollforward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Beginning Balance | 2.9 | 3.2 | 2.3 | 2.9 | ' | 2.2 | 2.3 | 2.2 | 3.6 | |
Charge Taken during the period | 3 | 0.1 | 1.7 | 3.2 | 0.1 | 2.4 | 4.8 | 5.7 | ' | |
Payments during the period | -1.8 | -0.4 | ' | -3.7 | -0.8 | -1 | ' | ' | ' | |
Ending Balance | 4.1 | 2.9 | 3.2 | 2.4 | 2.9 | ' | 4.1 | 2.4 | 3.6 | |
Payments for Restructuring and Asset Impairment Related to Lease Termination | ' | ' | ($0.80) | [1] | ' | ' | ' | ' | ' | ' |
[1] | We incurred an asset impairment of $0.5 million in the first quarter of 2013 related to the termination of a lease. |
Notes_Payable_and_Indebtedness2
Notes Payable and Indebtedness - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Mar. 31, 2012 | Sep. 30, 2013 | Mar. 11, 2012 | Mar. 31, 2012 | Dec. 31, 2012 | Mar. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Nov. 29, 2010 | Sep. 30, 2013 | Dec. 31, 2010 | Dec. 31, 2010 | Nov. 29, 2010 | Dec. 31, 2012 | Mar. 27, 2008 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Jul. 30, 2012 | Jun. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Jan. 30, 2008 | Dec. 31, 2010 | Nov. 29, 2010 | |
Interest Rate Contract [Member] | Interest Rate Contract [Member] | Interest Rate Contract [Member] | Interest Rate Contract [Member] | Interest Rate Contract [Member] | Interest Rate Contract [Member] | Senior Notes Due 2017 [Member] | Senior Notes Due 2017 [Member] | Senior Notes Due 2022 [Member] | Senior Notes Due 2022 [Member] | Senior Notes Due November 2015 | Senior Notes Due November 2015 | Senior Notes Due March Twenty Eleven [Member] | Senior Notes Due March Twenty Eleven [Member] | Senior Notes Due March Twenty Eleven [Member] | 2013 Senior Notes | 2013 Senior Notes | 2013 Senior Notes | Senior Notes Due 2017 and 2022 [Member] | Revolving Credit Facility October 2016 | Revolving Credit Facility October 2016 | Revolving Credit Facility October 2016 | Revolving Credit Facility October 2016 | International Operations | International Operations | Interest Rate Contract [Member] | Interest Rate Contract [Member] | Interest Rate Contract [Member] | Interest Rate Contract [Member] | Interest Rate Contract [Member] | Interest Rate Contract [Member] | Interest Rate Contract [Member] | |||||||
Non-Operating Income (Expenses) - Net | Non-Operating Income (Expenses) - Net | Long-Term Fixed-Rate Notes | Interest Rate Contract [Member] | person | Maximum | Maximum | Long-Term Fixed-Rate Notes | Long-Term Fixed-Rate Notes | Long-Term Fixed-Rate Notes | Long-Term Fixed-Rate Notes | Cash Flow Hedging [Member] | Senior Notes Due November 2015 | Senior Notes Due November 2015 | |||||||||||||||||||||||||
Non-Operating Income (Expenses) - Net | Non-Operating Income (Expenses) - Net | Non-Operating Income (Expenses) - Net | Non-Operating Income (Expenses) - Net | Non-Operating Income (Expenses) - Net | Non-Operating Income (Expenses) - Net | Fair Value Hedging [Member] | Fair Value Hedging [Member] | |||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-Term Fixed-Rate Notes issued, face value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $450,000,000 | ' | $300,000,000 | ' | $300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-Term Fixed-Rate Notes, annual interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.25% | ' | 4.38% | ' | 2.88% | ' | ' | ' | 5.50% | 6.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-Term Fixed-Rate Notes, maturity date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1-Dec-17 | ' | 1-Dec-22 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayment of long-term fixed-rate notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000,000 | ' | ' | 400,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-Term Fixed-Rate Notes, premium payment | ' | ' | ' | ' | ' | 5,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Debt Rating Decrease Threshold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-Term Fixed-Rate Notes | 1,046,800,000 | ' | ' | 1,046,800,000 | ' | 1,046,500,000 | ' | ' | ' | ' | ' | ' | ' | 450,000,000 | ' | 297,300,000 | ' | 299,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-Term Fixed-Rate Notes, discount | 3,200,000 | ' | ' | 3,200,000 | ' | 3,500,000 | ' | ' | ' | ' | ' | ' | 100,000 | 100,000 | 2,900,000 | 2,700,000 | 1,100,000 | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-Term Fixed-Rate Notes, underwriting and other fees | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,400,000 | ' | 2,500,000 | ' | 2,500,000 | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative, Notional Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000,000 | 125,000,000 | 125,000,000 |
Gain (loss) recognized in income on derivatives | ' | ' | ' | ' | ' | ' | ' | ' | ' | -800,000 | -300,000 | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | 500,000 | ' | ' | ' |
Cash received from interest rate derivatives terminated | ' | ' | ' | ' | ' | ' | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Interest Received | ' | ' | 4,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Carrying amount of hedged debt | ' | ' | ' | ' | ' | ' | ' | 2,900,000 | 4,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of carrying amount of hedged debt | ' | ' | ' | ' | ' | ' | ' | 900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum adjustments above initial interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss from interest rate derivative terminated | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -8,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facility, maximum borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 800,000,000 | 800,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Number of Days From Issuance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '364 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Commercial papers borrowings supported by line of credit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 800,000,000 | 300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revolving credit facility, expiration date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2016-10 | '2016-10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facility Outstanding amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 406,100,000 | 240,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facility, interest percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.19% | 1.62% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Uncommitted credit facility, maximum borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,500,000 | 3,000,000 | ' | ' | ' | ' | ' | ' | ' |
Contingent liability under open standby letters of credit in favor of third parties | 5,000,000 | ' | ' | 5,000,000 | ' | 12,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest paid for all outstanding debt | ($1,000,000) | ($900,000) | ' | ($20,500,000) | ($13,300,000) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Borrowings_Detail
Borrowings (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Debt Maturing Within One Year: | ' | ' |
Other | $0.10 | $0.20 |
Total Debt Maturing Within One year | 0.1 | 0.2 |
Debt Maturing After One Year: | ' | ' |
Long-Term Fixed-Rate Notes (Net of a $3.2 million and $3.5 million discount as of September 30, 2013 and December 31, 2012, respectively) | 1,046.80 | 1,046.50 |
Fair Value Adjustment Related to Hedged Debt | 2.9 | 3.8 |
Credit Facility | 406.1 | 240.2 |
Other | 0.1 | 0.2 |
Total Debt Maturing After One Year | $1,455.90 | $1,290.70 |
Borrowings_Parenthetical_Detai
Borrowings (Parenthetical) (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Long-Term Fixed-Rate Notes, discount | $3.20 | $3.50 |
Earnings_Per_Share_Additional_
Earnings Per Share - Additional Information (Detail) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' |
Weighted average restricted shares outstanding | ' | 8,050 | ' | 15,543 |
Stock-based awards to acquire shares of common stock outstanding but not included in computation of diluted earnings per share (in shares) | 5,414 | 1,376,145 | 138,504 | 1,385,966 |
Options, expiration period | ' | ' | '10 years | ' |
Earnings_Per_Share_Detail
Earnings Per Share (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Earnings Per Share Disclosure [Line Items] | ' | ' | ' | ' |
Net Income Attributable to D&B | $72.80 | $79.60 | $183.20 | $199.50 |
Less: Allocation to Participating Securities | 0 | 0 | 0 | -0.1 |
Net Income Attributable to D&B Common Shareholders - Basic and Diluted | $72.80 | $79.60 | $183.20 | $199.40 |
Weighted Average Number of Shares Outstanding - Basic (in shares) | 38.5 | 44.8 | 39.5 | 46.4 |
Dilutive Effect of Our Stock Incentive Plans (in shares) | 0.4 | 0.4 | 0.4 | 0.4 |
Weighted Average Number of Shares Outstanding - Diluted (in shares) | 38.9 | 45.2 | 39.9 | 46.8 |
Basic Earnings Per Share of Common Stock Attributable to D&B Common Shareholders (in dollars per share) | $1.89 | $1.77 | $4.64 | $4.29 |
Diluted Earnings Per Share of Common Stock Attributable to D&B Common Shareholders (in dollars per share) | $1.87 | $1.76 | $4.59 | $4.26 |
Share_Repurchases_Detail
Share Repurchases (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Accelerated Share Repurchases [Line Items] | ' | ' | ' | ' | ||||
Total number of share repurchases (in shares) | 721,245 | 435,733 | 3,945,013 | 3,463,999 | ||||
Total amount of share repurchases | $75 | $36 | $358.10 | $240 | ||||
Share Repurchase Programs | ' | ' | ' | ' | ||||
Accelerated Share Repurchases [Line Items] | ' | ' | ' | ' | ||||
Total number of share repurchases (in shares) | 528,795 | [1] | 435,733 | [1] | 3,045,926 | [1] | 3,404,436 | [1] |
Total amount of share repurchases | 55 | [1] | 36 | [1] | 270.1 | [1] | 236 | [1] |
Repurchases to Mitigate the Dilutive Effect of the Shares Issued Under Our Stock Incentive Plans and Employee Stock Purchase Plan (ESPP) | ' | ' | ' | ' | ||||
Accelerated Share Repurchases [Line Items] | ' | ' | ' | ' | ||||
Total number of share repurchases (in shares) | 192,450 | [2] | 0 | [2] | 899,087 | [2] | 59,563 | [2] |
Total amount of share repurchases | $20 | [2] | $0 | [2] | $88 | [2] | $4 | [2] |
[1] | In August 2012, our Board of Directors approved a $500 million increase to our then existing $500 million share repurchase program, for a total program authorization of $1 billion. The then existing $500 million share repurchase program was approved by our Board of Directors in October 2011 and commenced in November 2011 upon completion of our previous $200 million share repurchase program. We anticipate that this program will be completed by mid-2014. | |||||||
[2] | In May 2010, our Board of Directors approved a four-year, five million share repurchase program to mitigate the dilutive effect of the shares issued under our stock incentive plans and ESPP. This program commenced in October 2010 and expires in October 2014. |
Share_Repurchases_Parenthetica
Share Repurchases (Parenthetical) (Detail) (USD $) | 1 Months Ended | 3 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | ||
Aug. 30, 2012 | Aug. 31, 2012 | Oct. 30, 2011 | Dec. 31, 2012 | Feb. 27, 2009 | Dec. 29, 2009 | 30-May-10 | |
Share repurchase plan, 2011 | Share repurchase plan, 2011 | Share repurchase plan, 2011 | Share repurchase plan, 2011 | Share repurchase plan, 2009 | Share repurchase plan, 2009 | Share Repurchase Program, 2010 | |
Share Repurchase Programs | Share Repurchase Programs | Share Repurchase Programs | Share Repurchase Programs | Share Repurchase Programs | Share Repurchase Programs | Repurchases to Mitigate the Dilutive Effect of the Shares Issued Under Our Stock Incentive Plans and Employee Stock Purchase Plan (ESPP) | |
Accelerated Share Repurchases [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Amount approved for repurchase of shares | ' | $500,000,000 | $500,000,000 | $1,000,000,000 | $200,000,000 | ' | ' |
Repurchase program, commencement date | ' | ' | '2011-11 | ' | ' | ' | '2010-10 |
Repurchase program, period | ' | ' | ' | ' | ' | ' | '4 years |
Share repurchase program, completion date | '2014-06 | ' | ' | ' | ' | '2011-11 | '2014-10 |
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | ' | ' | ' | ' | ' | ' | 5,000,000 |
Other_Accrued_and_Current_Liab2
Other Accrued and Current Liabilities (Detail) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 30, 2012 | Dec. 31, 2011 | ||
In Millions, unless otherwise specified | ||||||||||
Schedule of Accrued Liabilities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ||
Restructuring Reserve | $10.30 | $8.30 | $9.50 | $11.70 | $10 | $15.60 | $14.60 | $10.50 | ||
Accrued Professional Fees, Current | 35.7 | ' | ' | 37.4 | ' | ' | ' | ' | ||
Accrued Operating Expenses, Current | 24.2 | ' | ' | 25.5 | ' | ' | ' | ' | ||
Bond Interest Payable | 12.5 | [1] | ' | ' | 3.4 | [1] | ' | ' | ' | ' |
Other Accrued Liabilities, Current | 51.4 | [2] | ' | ' | 40.9 | [2] | ' | ' | ' | ' |
Other Accrued And Current Liabilities | $134.10 | ' | ' | $118.90 | ' | ' | ' | ' | ||
[1] | The increase in Bond Interest Payable from December 31, 2012 to September 30, 2013 primarily reflects the absence, from the December 31, 2012 balance, of interest associated with our 2013 notes which were retired at December 31, 2012, and the timing of interest accrual periods associated with our 2017 notes and 2022 notes which were issued in December 2012. | |||||||||
[2] | The increase in Other Accrued Liabilities from December 31, 2012 to September 30, 2013 was primarily attributed to the purchase of perpetual licenses of third-party software. |
Contingencies_Additional_Infor
Contingencies- Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | |||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | |
Shanghai Roadway D&B Marketing Services Co Ltd. | Shanghai Roadway D&B Marketing Services Co Ltd. | Shanghai Roadway D&B Marketing Services Co Ltd. | Shanghai Roadway D&B Marketing Services Co Ltd. | Shanghai Roadway D&B Marketing Services Co Ltd. | Shanghai Roadway D&B Marketing Services Co Ltd. | Corporate Shutdown Costs [Member] | Corporate Shutdown Costs [Member] | Local Shutdown Costs [Member] | Fines and Imprisonment [Member] | ||||||
person | Shanghai Roadway D&B Marketing Services Co Ltd. | Shanghai Roadway D&B Marketing Services Co Ltd. | Shanghai Roadway D&B Marketing Services Co Ltd. | Shanghai Roadway D&B Marketing Services Co Ltd. | |||||||||||
person | |||||||||||||||
Commitments and Contingencies Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Divested and other revenue | $0 | $100,000 | $0 | $18,700,000 | ' | ' | $5,400,000 | $22,000,000 | ' | $5,400,000 | $22,000,000 | ' | ' | ' | ' |
Divested and other business, operating income (loss) | ' | ' | ' | ' | ' | ' | -14,500,000 | 2,000,000 | ' | -14,500,000 | 2,000,000 | ' | ' | ' | ' |
Loss Contingency, Number of Defendants | ' | ' | ' | ' | ' | ' | ' | ' | 5 | ' | ' | ' | ' | ' | 4 |
Impairment of assets | ' | ' | 0 | 16,100,000 | ' | 12,900,000 | 12,900,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Shut-down costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -6,200,000 | -13,500,000 | -2,100,000 | ' |
Loss Contingency, Statutory Damages Per Violation | ' | ' | ' | ' | 500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss Contingency, Statutory Damages Per Violation, Willful Violation | ' | ' | ' | ' | $1,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Taxes [Line Items] | ' | ' | ' | ' |
Effective tax rate | 33.80% | 5.60% | 32.30% | 15.70% |
Gross unrecognized tax benefits | $98.50 | ' | $98.50 | ' |
Unrecognized tax benefits that, if recognized, would impact effective tax rate | 92.9 | ' | 92.9 | ' |
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions | 0.1 | ' | ' | ' |
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations and Settlements with Tax Authority | ' | ' | 2.2 | ' |
Reasonably possible decrease in unrecognized tax benefits within next twelve months | 63 | ' | 63 | ' |
Period within which Unrecognized Tax Benefits will possibly decrease | ' | ' | '12 months | ' |
Interest expense related to unrecognized tax benefits | 0.6 | 1.2 | 1.8 | 2.5 |
Accrued interest expense related to unrecognized tax benefits | $9.70 | $8.20 | $9.70 | $8.20 |
Components_of_Net_Periodic_Inc
Components of Net Periodic (Income) Cost Associated with Pension Plans and Postretirement Benefit Obligations (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Pension Plans | ' | ' | ' | ' |
Components of Net Periodic Cost (Income): | ' | ' | ' | ' |
Service cost | $0.90 | $1.30 | $3.50 | $4.40 |
Interest cost | 17.5 | 19 | 52.4 | 56.5 |
Expected return on plan assets | -23.4 | -25 | -70.3 | -74.7 |
Amortization of prior service cost (credit) | 0.1 | 0.1 | 0.3 | 0.3 |
Recognized actuarial loss (gain) | 11 | 9 | 32.7 | 26.7 |
Net Periodic Cost (Income) | 6.1 | 4.4 | 18.6 | 13.2 |
Postretirement Benefit Obligations | ' | ' | ' | ' |
Components of Net Periodic Cost (Income): | ' | ' | ' | ' |
Service cost | 0.2 | 0.3 | 0.6 | 0.5 |
Interest cost | 0.3 | 0.1 | 0.6 | 0.5 |
Expected return on plan assets | 0 | 0 | 0 | 0 |
Amortization of prior service cost (credit) | -2.3 | -2.4 | -6.9 | -7.4 |
Recognized actuarial loss (gain) | -0.3 | -0.9 | -1.1 | -1.9 |
Net Periodic Cost (Income) | ($2.10) | ($2.90) | ($6.80) | ($8.30) |
Pension_and_Postretirement_Ben2
Pension and Postretirement Benefits - Additional Information (Detail) (USD $) | 12 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
Non-Qualified U.S. and non-U.S. pension plans | Postretirement Benefit Plans | |||
Pension and Other Postretirement Benefits Disclosure [Line Items] | ' | ' | ' | ' |
Defined benefit plan, expected contribution to pension plans | $20 | $22 | ' | ' |
Defined benefit plan, expected contribution to postretirement plan | ' | 5 | ' | ' |
Employer contribution to employee benefit plans | ' | ' | $16 | $2.10 |
Segment_Information_Additional
Segment Information - Additional Information (Detail) (USD $) | 3 Months Ended | 3 Months Ended | 9 Months Ended | 9 Months Ended | |||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | ||
segment | Asia Pacific | Asia Pacific | Asia Pacific | Asia Pacific | Maximum | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||
Assets | $1,849.90 | $1,991.80 | ' | ' | $364.60 | [1] | $414.60 | [1] | ' |
Number of Operating Segments | 3 | ' | ' | ' | ' | ' | ' | ||
Percentage of total revenue from single customer | ' | ' | ' | ' | ' | ' | 10.00% | ||
Percentage of Revenue from Divested and Other Businesses | ' | ' | 1.00% | 12.00% | ' | ' | ' | ||
[1] | The decrease in assets in the Asia Pacific segment to $364.6 million at SeptemberB 30, 2013 from $414.6 million at DecemberB 31, 2012 was primarily due to the negative impact of foreign currency translation |
Segment_Information_Detail
Segment Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ||||
Revenue | $411.10 | $413.20 | $1,178.50 | $1,199.90 | ||||
Divested and other revenue | 0 | 0.1 | 0 | 18.7 | ||||
Operating Income (Loss) | 120.5 | 109.7 | 302.2 | 273.4 | ||||
Non-Operating Income (Expense), Net | -10.2 | [1] | -24.7 | [1] | -30.8 | [1] | -36.1 | [1] |
Income Before Provision for Income Taxes and Equity in Net Income of Affiliates | 110.3 | 85 | 271.4 | 237.3 | ||||
North America | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ||||
Revenue | 305.8 | 308.3 | 867.7 | 872.8 | ||||
Asia Pacific | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ||||
Revenue | 44.4 | 44.8 | 135.1 | 151.3 | ||||
Europe and Other International Markets | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ||||
Revenue | 60.9 | 60.1 | 175.7 | 175.8 | ||||
Total Segments | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ||||
Revenue | 411.1 | 413.1 | 1,178.50 | 1,181.20 | ||||
Operating Income (Loss) | 137.1 | 139.7 | 348.1 | 368.7 | ||||
Total Segments | North America | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ||||
Revenue | 305.8 | 308.3 | 867.7 | 872.8 | ||||
Operating Income (Loss) | 112.3 | 117.3 | 282.8 | 323 | ||||
Total Segments | Asia Pacific | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ||||
Revenue | 44.4 | 44.7 | 135.1 | 132.6 | ||||
Operating Income (Loss) | 5.1 | 5.1 | 15.9 | -0.4 | ||||
Total Segments | Europe and Other International Markets | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ||||
Revenue | 60.9 | 60.1 | 175.7 | 175.8 | ||||
Operating Income (Loss) | 19.7 | 17.3 | 49.4 | 46.1 | ||||
Corporate and Other | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ||||
Operating Income (Loss) | ($16.60) | [2] | ($30) | [2] | ($45.90) | [2] | ($95.30) | [2] |
[1] | The following table summarizes bNon-Operating Income (Expense):bB For the Three Months Ended September 30,B For the Nine Months Ended September 30,B 2013B 2012B 2013B 2012Interest Income$0.3B $0.2B $0.9B $0.5Interest Expense(10.3)B (9.5)B (30.2)B (27.8)Other Income (Expense) - Net (a)(0.2)B (15.4)B (1.5)B (8.8)Non-Operating Income (Expense) - Net$(10.2)B $(24.7)B $(30.8)B $(36.1) | |||||||
[2] | The following table summarizes bCorporate and Other:bB For the Three Months Ended September 30,B For the Nine Months Ended September 30,B 2013B 2012B 2013B 2012Corporate Costs$(9.6)B $(13.1)B $(29.1)B $(35.5)Restructuring Expense(6.1)B (4.8)B (10.6)B (23.2)Strategic Technology Investment or MaxCV bB (6.7)B bB (25.6)Legal and Other Professional Fees and Shut-Down Costs Related to Matters in China(0.9)B (5.4)B (6.2)B (11.0)Total Corporate and Other$(16.6)B $(30.0)B $(45.9)B $(95.3) |
Segment_Information_Parentheti
Segment Information (Parenthetical) (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ||||
Corporate and Other | ($16.60) | ($30) | ($45.90) | ($95.30) | ||||
Interest Income | 0.3 | 0.2 | 0.9 | 0.5 | ||||
Interest Expense | -10.3 | -9.5 | -30.2 | -27.8 | ||||
Other Income (Expense) - Net | -0.2 | -15.4 | [1] | -1.5 | -8.8 | [1] | ||
Non-Operating Income (Expense) - Net | -10.2 | [2] | -24.7 | [2] | -30.8 | [2] | -36.1 | [2] |
Corporate Costs | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ||||
Corporate and Other | -9.6 | -13.1 | -29.1 | -35.5 | ||||
Restructuring accruals | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ||||
Corporate and Other | -6.1 | -4.8 | -10.6 | -23.2 | ||||
Strategic Technology Investment (MaxCV) | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ||||
Corporate and Other | 0 | -6.7 | 0 | -25.6 | ||||
Legal Fees And Other Shut-Down Costs Associated with Matters in China | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ||||
Corporate and Other | ($0.90) | ($5.40) | ($6.20) | ($11) | ||||
Asia Pacific | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ||||
Percentage Of Total Revenue From Divested And Other Business | ' | 1.00% | ' | 12.00% | ||||
[1] | During the three month and nine month periods ended SeptemberB 30, 2012, we recognized the reduction of a contractual receipt under the Tax Allocation Agreement between Moody's Corporation and D&B as it relates to the expiration of the statute of limitations for the tax years 2005 and 2006. | |||||||
[2] | The following table summarizes bNon-Operating Income (Expense):bB For the Three Months Ended September 30,B For the Nine Months Ended September 30,B 2013B 2012B 2013B 2012Interest Income$0.3B $0.2B $0.9B $0.5Interest Expense(10.3)B (9.5)B (30.2)B (27.8)Other Income (Expense) - Net (a)(0.2)B (15.4)B (1.5)B (8.8)Non-Operating Income (Expense) - Net$(10.2)B $(24.7)B $(30.8)B $(36.1) |
Supplemental_Geographic_and_Cu
Supplemental Geographic and Customer Solution Set Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ||||
Revenue | $411.10 | $413.20 | $1,178.50 | $1,199.90 | ||||
Divested and other revenue | 0 | 0.1 | 0 | 18.7 | ||||
Risk Management Solutions | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ||||
Divested and other revenue | 0 | 0.1 | 0 | 9.3 | ||||
Sale and Marketing Solutions | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ||||
Divested and other revenue | 0 | 0 | 0 | 9.4 | ||||
Segment, Continuing Operations | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ||||
Revenue | 411.1 | 413.1 | 1,178.50 | 1,181.20 | ||||
Divested and other revenue | 0 | [1] | 0.1 | [1] | 0 | [1] | 18.7 | [1] |
Segment, Continuing Operations | Risk Management Solutions | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ||||
Revenue | 263.5 | 265.8 | 770.7 | 775.2 | ||||
Segment, Continuing Operations | Sale and Marketing Solutions | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ||||
Revenue | 147.6 | 147.3 | 407.8 | 406 | ||||
North America | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ||||
Revenue | 305.8 | 308.3 | 867.7 | 872.8 | ||||
North America | Segment, Continuing Operations | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ||||
Revenue | 305.8 | 308.3 | 867.7 | 872.8 | ||||
Divested and other revenue | 0 | 0 | 0 | 0 | ||||
North America | Segment, Continuing Operations | Risk Management Solutions | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ||||
Revenue | 176.7 | 178.8 | 510.8 | 518.5 | ||||
North America | Segment, Continuing Operations | Sale and Marketing Solutions | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ||||
Revenue | 129.1 | 129.5 | 356.9 | 354.3 | ||||
Asia Pacific | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ||||
Revenue | 44.4 | 44.8 | 135.1 | 151.3 | ||||
Asia Pacific | Segment, Continuing Operations | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ||||
Revenue | 44.4 | 44.7 | 135.1 | 132.6 | ||||
Divested and other revenue | 0 | [1] | 0.1 | [1] | 0 | [1] | 18.7 | [1] |
Asia Pacific | Segment, Continuing Operations | Risk Management Solutions | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ||||
Revenue | 38.2 | 38.1 | 116.4 | 111.6 | ||||
Asia Pacific | Segment, Continuing Operations | Sale and Marketing Solutions | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ||||
Revenue | 6.2 | 6.6 | 18.7 | 21 | ||||
Europe and Other International Markets | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ||||
Revenue | 60.9 | 60.1 | 175.7 | 175.8 | ||||
Europe and Other International Markets | Segment, Continuing Operations | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ||||
Revenue | 60.9 | 60.1 | 175.7 | 175.8 | ||||
Divested and other revenue | 0 | 0 | 0 | 0 | ||||
Europe and Other International Markets | Segment, Continuing Operations | Risk Management Solutions | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ||||
Revenue | 48.6 | 48.9 | 143.5 | 145.1 | ||||
Europe and Other International Markets | Segment, Continuing Operations | Sale and Marketing Solutions | ' | ' | ' | ' | ||||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ||||
Revenue | $12.30 | $11.20 | $32.20 | $30.70 | ||||
[1] | During the fiscal year ended 2012, we completed: (a) the sales of: (i) the domestic portion of our Japanese operations to Tokyo Shoko Research Ltd. ("TSR Ltd."); and (ii) a research and advisory services business in India; and (b) the shut-down of our Roadway operations. These businesses have been classified as bDivested and Other Businesses.b These Divested and Other Businesses contributed less than 1% and 12% to our Asia Pacific total revenue for the three month and nine month periods ended SeptemberB 30, 2012, respectively. The following table represents Divested and Other Businesses revenue by solution set: For the Three Months Ended September 30,B For the Nine Months Ended September 30,B 2013B 2012B 2013B 2012Divested and Other Businesses: Risk Management Solutions$bB $0.1B $bB $9.3SalesB & Marketing SolutionsbB bB bB 9.4Total Divested and Other Businesses Revenue$bB $0.1B $bB $18.7 |
Supplemental_Geographic_and_Cu1
Supplemental Geographic and Customer Solution Set Information (Parenthetical) (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | ||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ||
Goodwill | ' | ' | $583.80 | $611.10 | ||
Assets | ' | ' | 1,849.90 | 1,991.80 | ||
Asia Pacific | ' | ' | ' | ' | ||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ||
Goodwill | ' | ' | 206.8 | [1] | 234 | [1],[2] |
Percentage of Revenue from Divested and Other Businesses | 1.00% | 12.00% | ' | ' | ||
Assets | ' | ' | 364.6 | [2] | 414.6 | [2] |
North America | ' | ' | ' | ' | ||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ||
Goodwill | ' | ' | 265.7 | 266.5 | ||
Assets | ' | ' | 752.7 | [3] | 795.4 | [3] |
Europe and Other International Markets | ' | ' | ' | ' | ||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ||
Goodwill | ' | ' | 111.3 | 110.6 | ||
Assets | ' | ' | 404.5 | [4] | 365.7 | [4] |
Corporate and Other [Member] | ' | ' | ' | ' | ||
Segment Reporting Disclosure [Line Items] | ' | ' | ' | ' | ||
Assets | ' | ' | $328.10 | [4],[5] | $416.10 | [4],[5] |
[1] | The decrease in goodwill in the Asia Pacific segment to $206.8 million at SeptemberB 30, 2013 from $234.0 million at DecemberB 31, 2012 was primarily due to the negative impact of foreign currency translation. | |||||
[2] | The decrease in assets in the Asia Pacific segment to $364.6 million at SeptemberB 30, 2013 from $414.6 million at DecemberB 31, 2012 was primarily due to the negative impact of foreign currency translation | |||||
[3] | The decrease in assets in the North America segment to $752.7 million at SeptemberB 30, 2013 from $795.4 million at DecemberB 31, 2012 was primarily due to a decrease in accounts receivable partially offset by increases in cash and computer software. | |||||
[4] | The increase in assets in the Europe and Other International Markets segment to $404.5 million at SeptemberB 30, 2013 from $365.7 million at DecemberB 31, 2012 was primarily due to an increase in cash partially offset by a decrease in accounts receivable. | |||||
[5] | The decrease in assets in Corporate and Other to $328.1 million at SeptemberB 30, 2013 from $416.1 million at DecemberB 31, 2012 was primarily due to a decrease in cash primarily attributed to bond interest and dividend payments. |
Segment_Information_Schedule_o
Segment Information Schedule of Divested and Other Business Revenue (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | |||
Divested and other revenue | $0 | $0.10 | $0 | $18.70 | ' | |||
Assets | 1,849.90 | ' | 1,849.90 | ' | 1,991.80 | |||
Goodwill | 583.8 | ' | 583.8 | ' | 611.1 | |||
Risk Management Solutions | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | |||
Divested and other revenue | 0 | 0.1 | 0 | 9.3 | ' | |||
Sale and Marketing Solutions | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | |||
Divested and other revenue | 0 | 0 | 0 | 9.4 | ' | |||
North America | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | |||
Assets | 752.7 | [1] | ' | 752.7 | [1] | ' | 795.4 | [1] |
Goodwill | 265.7 | ' | 265.7 | ' | 266.5 | |||
Asia Pacific | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | |||
Assets | 364.6 | [2] | ' | 364.6 | [2] | ' | 414.6 | [2] |
Goodwill | 206.8 | [3] | ' | 206.8 | [3] | ' | 234 | [2],[3] |
Europe and Other International Markets | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | |||
Assets | 404.5 | [4] | ' | 404.5 | [4] | ' | 365.7 | [4] |
Goodwill | 111.3 | ' | 111.3 | ' | 110.6 | |||
Total Segments | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | |||
Assets | 1,521.80 | ' | 1,521.80 | ' | 1,575.70 | |||
Corporate and Other | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | |||
Assets | $328.10 | [4],[5] | ' | $328.10 | [4],[5] | ' | $416.10 | [4],[5] |
[1] | The decrease in assets in the North America segment to $752.7 million at SeptemberB 30, 2013 from $795.4 million at DecemberB 31, 2012 was primarily due to a decrease in accounts receivable partially offset by increases in cash and computer software. | |||||||
[2] | The decrease in assets in the Asia Pacific segment to $364.6 million at SeptemberB 30, 2013 from $414.6 million at DecemberB 31, 2012 was primarily due to the negative impact of foreign currency translation | |||||||
[3] | The decrease in goodwill in the Asia Pacific segment to $206.8 million at SeptemberB 30, 2013 from $234.0 million at DecemberB 31, 2012 was primarily due to the negative impact of foreign currency translation. | |||||||
[4] | The increase in assets in the Europe and Other International Markets segment to $404.5 million at SeptemberB 30, 2013 from $365.7 million at DecemberB 31, 2012 was primarily due to an increase in cash partially offset by a decrease in accounts receivable. | |||||||
[5] | The decrease in assets in Corporate and Other to $328.1 million at SeptemberB 30, 2013 from $416.1 million at DecemberB 31, 2012 was primarily due to a decrease in cash primarily attributed to bond interest and dividend payments. |
Financial_Instruments_Addition
Financial Instruments - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | |||||||||||
Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2013 | Mar. 11, 2012 | Mar. 31, 2012 | Dec. 31, 2012 | Mar. 31, 2012 | Nov. 29, 2010 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Jan. 30, 2008 | Dec. 31, 2010 | Nov. 29, 2010 | |
Interest Rate Contract [Member] | Interest Rate Contract [Member] | Interest Rate Contract [Member] | Interest Rate Contract [Member] | Interest Rate Contract [Member] | Interest Rate Contract [Member] | Senior Notes Due November 2015 | Shanghai Roadway D&B Marketing Services Co Ltd [Member] | Shanghai Roadway D&B Marketing Services Co Ltd [Member] | Shanghai Roadway D&B Marketing Services Co Ltd [Member] | Shanghai Roadway D&B Marketing Services Co Ltd [Member] | Foreign Exchange Contract [Member] | Foreign Exchange Contract [Member] | Interest Rate Contract [Member] | Interest Rate Contract [Member] | Interest Rate Contract [Member] | Interest Rate Contract [Member] | Interest Rate Contract [Member] | Interest Rate Contract [Member] | Interest Rate Contract [Member] | ||||
Non-Operating Income (Expenses) - Net | Non-Operating Income (Expenses) - Net | Non-Operating Income (Expenses) - Net | Selling, General and Administrative Expenses [Member] | Operating Expense [Member] | Non-Operating Income (Expenses) - Net | Non-Operating Income (Expenses) - Net | Non-Operating Income (Expenses) - Net | Non-Operating Income (Expenses) - Net | Cash Flow Hedging | Senior Notes Due November 2015 | Senior Notes Due November 2015 | ||||||||||||
Long-Term Fixed-Rate Notes | Long-Term Fixed-Rate Notes | Long-Term Fixed-Rate Notes | Long-Term Fixed-Rate Notes | Long-Term Fixed-Rate Notes | Fair Value Hedging [Member] | Fair Value Hedging [Member] | |||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-Term Fixed-Rate Notes, face value | ' | ' | ' | ' | ' | ' | ' | ' | ' | $300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative, Notional Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 286,600,000 | 277,400,000 | ' | ' | ' | ' | 400,000,000 | 125,000,000 | 125,000,000 |
Gain (loss) recognized in income on derivatives | ' | ' | ' | ' | ' | ' | -800,000 | -300,000 | 500,000 | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | 500,000 | ' | ' | ' |
Cash received from interest rate derivatives terminated | ' | ' | ' | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Carrying amount of hedged debt | ' | ' | ' | ' | 2,900,000 | 4,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign Exchange and Option Contracts Maturities, Maximun Period | '12 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of carrying amount of hedged debt | ' | ' | ' | ' | 900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impairment of assets | ' | $0 | $16,100,000 | ' | ' | ' | ' | ' | ' | ' | $12,900,000 | $12,900,000 | $8,800,000 | $4,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair_Values_of_Derivative_Inst
Fair Values of Derivative Instruments in Consolidated Balance Sheet (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Derivatives, Fair Value [Line Items] | ' | ' |
Assets Derivatives | $0.50 | $0 |
Liabilities Derivative | 0.1 | 0.4 |
Derivatives not designated as hedging instruments | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Assets Derivatives | 0.5 | 0 |
Liabilities Derivative | 0.1 | 0.4 |
Derivatives not designated as hedging instruments | Other Accrued and Current Liabilities | Foreign exchange forward contracts | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Liabilities Derivative | 0.1 | 0.4 |
Derivatives not designated as hedging instruments | Other Current Assets | Foreign exchange forward contracts | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Assets Derivatives | $0.50 | $0 |
Effect_of_Derivative_Instrumen
Effect of Derivative Instruments on Consolidated Statement of Operations and Comprehensive Income (Detail) (Non-Operating Income (Expenses) - Net, USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Swap Arrangement | Long-Term Fixed-Rate Notes | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Gain or (Loss) Recognized in Income on Derivative | $0 | $0 | $0 | ($0.50) |
Designated as Hedging Instrument [Member] | Swap Arrangement | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Gain or (Loss) Recognized in Income on Derivative | 0 | 0 | 0 | 0.8 |
Not Designated as Hedging Instrument [Member] | Forward exchange contracts | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Gain or (Loss) Recognized in Income on Derivative | -0.2 | 6.1 | -5.4 | 7.9 |
Not Designated as Hedging Instrument [Member] | Foreign exchange option contracts | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Gain or (Loss) Recognized in Income on Derivative | $0 | ($0.20) | ' | ($0.20) |
Assets_and_Liabilities_Measure
Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Millions, unless otherwise specified | ||||
Assets: | ' | ' | ||
Cash Equivalents | $103.90 | [1] | $58.10 | [2] |
Other Current Assets | Foreign exchange forward contracts | ' | ' | ||
Assets: | ' | ' | ||
Assets measured at fair value | 0.5 | [3] | ' | |
Other Accrued and Current Liabilities | Foreign exchange forward contracts | ' | ' | ||
Liabilities: | ' | ' | ||
Liabilities measured at fair value | 0.1 | [3] | 0.4 | [4] |
Quoted Prices in Active Markets for Identical Assets (Level I) | ' | ' | ||
Assets: | ' | ' | ||
Cash Equivalents | 103.9 | [1] | 58.1 | [2] |
Quoted Prices in Active Markets for Identical Assets (Level I) | Other Current Assets | Foreign exchange forward contracts | ' | ' | ||
Assets: | ' | ' | ||
Assets measured at fair value | 0 | [3] | ' | |
Quoted Prices in Active Markets for Identical Assets (Level I) | Other Accrued and Current Liabilities | Foreign exchange forward contracts | ' | ' | ||
Liabilities: | ' | ' | ||
Liabilities measured at fair value | 0 | [3] | 0 | [4] |
Significant Other Observable Inputs (Level II) | ' | ' | ||
Assets: | ' | ' | ||
Cash Equivalents | 0 | [1] | 0 | [2] |
Significant Other Observable Inputs (Level II) | Other Current Assets | Foreign exchange forward contracts | ' | ' | ||
Assets: | ' | ' | ||
Assets measured at fair value | 0.5 | [3] | ' | |
Significant Other Observable Inputs (Level II) | Other Accrued and Current Liabilities | Foreign exchange forward contracts | ' | ' | ||
Liabilities: | ' | ' | ||
Liabilities measured at fair value | 0.1 | [3] | 0.4 | [4] |
Significant Unobservable Inputs (Level III) | ' | ' | ||
Assets: | ' | ' | ||
Cash Equivalents | 0 | [1] | 0 | [2] |
Significant Unobservable Inputs (Level III) | Other Current Assets | Foreign exchange forward contracts | ' | ' | ||
Assets: | ' | ' | ||
Assets measured at fair value | 0 | [3] | ' | |
Significant Unobservable Inputs (Level III) | Other Accrued and Current Liabilities | Foreign exchange forward contracts | ' | ' | ||
Liabilities: | ' | ' | ||
Liabilities measured at fair value | $0 | [3] | $0 | [4] |
[1] | Cash equivalents represent fair value as it consists of highly liquid investments with an original maturity of three months or less. | |||
[2] | (1)Cash equivalents represent fair value as it consists of highly liquid investments with an original maturity of three months or less. | |||
[3] | Primarily represents foreign currency forward contracts. Fair value is determined utilizing a market approach and considers a factor for nonperformance in the valuation. | |||
[4] | (2)Primarily represents foreign currency forward contracts. Fair value is determined utilizing a market approach and considers a factor for nonperformance in the valuation |
Assets_and_Liabilities_Measure1
Assets and Liabilities Measured at Fair Value on Recurring Basis (Parenthetical) (Detail) (Senior Notes Due November Twenty Fifteen [Member], Fair Value Hedging [Member], Swap Arrangement, USD $) | Dec. 31, 2010 | Nov. 29, 2010 |
In Millions, unless otherwise specified | ||
Senior Notes Due November Twenty Fifteen [Member] | Fair Value Hedging [Member] | Swap Arrangement | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative, Notional Amount | $125 | $125 |
Carrying_Amount_and_Estimated_
Carrying Amount and Estimated Fair Value of Asset (Liability) (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term Debt, Carrying Amount (Asset) Liability | $1,046.80 | $1,046.50 |
Credit Facilities, Carrying Amount (Asset) Liability | 406.1 | 240.2 |
Fair Value (Asset) Liability | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term Debt, fair value (Asset) Liability | 1,063.60 | 1,059.30 |
Credit Facilities, fair value (Asset) Liability | $405.40 | $237.70 |
Other_Comprehensive_Income_Sch
Other Comprehensive Income Schedule of Accumulated Other Comprehensive Income (Loss) (Details) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Accumulated Other Comprehensive Income [Roll Forward] | ' | ' |
Beginning Balance | ($852.10) | ($806.70) |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 16.5 | 14.4 |
Other Comprehensive Income (Loss), before reclassifications, Net of Tax | -49.6 | 7.9 |
Ending Balance | -885.2 | -784.4 |
Accumulated Translation Adjustment [Member] | ' | ' |
Accumulated Other Comprehensive Income [Roll Forward] | ' | ' |
Beginning Balance | -151.2 | -168.3 |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 0 | 0 |
Other Comprehensive Income (Loss), before reclassifications, Net of Tax | -44.1 | 13.3 |
Ending Balance | -195.3 | -155 |
Accumulated Defined Benefit Plans Adjustment [Member] | ' | ' |
Accumulated Other Comprehensive Income [Roll Forward] | ' | ' |
Beginning Balance | -701 | -638.4 |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 16.5 | 13.2 |
Other Comprehensive Income (Loss), before reclassifications, Net of Tax | -5.5 | -5.4 |
Ending Balance | -690 | -630.6 |
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | ' | ' |
Accumulated Other Comprehensive Income [Roll Forward] | ' | ' |
Beginning Balance | 0.1 | 0 |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 0 | 1.2 |
Other Comprehensive Income (Loss), before reclassifications, Net of Tax | 0 | 0 |
Ending Balance | $0.10 | $1.20 |
Other_Comprehensive_Income_Rec
Other Comprehensive Income Reclassifications out of AOCI (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Reclassifications out of AOCI [Line Items] | ' | ' | ' | ' |
Income Tax Expense (Benefit) | ($37.40) | ($4.80) | ($87.60) | ($37.30) |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' |
Reclassifications out of AOCI [Line Items] | ' | ' | ' | ' |
Net Income (Loss) Available to Common Stockholders, Basic | 5.5 | 5 | 16.5 | 14.4 |
Accumulated Translation Adjustment [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Other Income (Expense) | ' | ' | ' | ' |
Reclassifications out of AOCI [Line Items] | ' | ' | ' | ' |
Other Comprehensive Income Loss Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI Realized Upon Sale or Liquidation Net of Tax | 0 | 0 | 0 | 0 |
Accumulated Defined Benefit Plans Adjustment [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' |
Reclassifications out of AOCI [Line Items] | ' | ' | ' | ' |
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest | 8.5 | 5.9 | 25 | 17.7 |
Income Tax Expense (Benefit) | -3 | -1.3 | -8.5 | -4.5 |
Net Income (Loss) Available to Common Stockholders, Basic | 5.5 | 4.6 | 16.5 | 13.2 |
Accumulated Defined Benefit Plans Adjustment [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Selling, General and Administrative Expenses [Member] | ' | ' | ' | ' |
Reclassifications out of AOCI [Line Items] | ' | ' | ' | ' |
Other Comprehensive (Income) Loss, Amortization adjustment from AOCI, Pension and Other Postretirement Benefit Plans,for Net Prior Service Cost (credit),before tax | -1.5 | -1.7 | -4.8 | -5.3 |
Other Comprehensive Income (Loss), Reclassification, Pension and Other Postretirement Benefit Plans, Net Gain (Loss) Recognized in Net Periodic Benefit Cost, before Tax | 7 | 6.1 | 22.8 | 18.5 |
Accumulated Defined Benefit Plans Adjustment [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Operating Expenses | ' | ' | ' | ' |
Reclassifications out of AOCI [Line Items] | ' | ' | ' | ' |
Other Comprehensive (Income) Loss, Amortization adjustment from AOCI, Pension and Other Postretirement Benefit Plans,for Net Prior Service Cost (credit),before tax | -0.7 | -0.6 | -1.8 | -1.8 |
Other Comprehensive Income (Loss), Reclassification, Pension and Other Postretirement Benefit Plans, Net Gain (Loss) Recognized in Net Periodic Benefit Cost, before Tax | 3.7 | 2.1 | 8.8 | 6.3 |
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' |
Reclassifications out of AOCI [Line Items] | ' | ' | ' | ' |
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest | 0 | 0.4 | 0 | 1.2 |
Income Tax Expense (Benefit) | 0 | 0 | 0 | 0 |
Net Income (Loss) Available to Common Stockholders, Basic | 0 | 0.4 | 0 | 1.2 |
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Cash Flow Hedging [Member] | ' | ' | ' | ' |
Reclassifications out of AOCI [Line Items] | ' | ' | ' | ' |
Interest Income (Expense), Net | $0 | $0.40 | $0 | $1.20 |
Divestitures_and_Other_Busines1
Divestitures and Other Businesses - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | |||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Feb. 28, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Feb. 28, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 |
Indian Research and Advisory Services [Member] | Indian Research and Advisory Services [Member] | Indian Research and Advisory Services [Member] | Japanese Joint Venture Domestic | Japanese Joint Venture Domestic | Japanese Joint Venture Domestic | AllBusiness.com, Inc. | AllBusiness.com, Inc. | AllBusiness.com, Inc. | Chinese Market Research Joint Venture | Chinese Market Research Joint Venture | Chinese Market Research Joint Venture | Shanghai Roadway D&B Marketing Services Co Ltd. | Shanghai Roadway D&B Marketing Services Co Ltd. | Shanghai Roadway D&B Marketing Services Co Ltd. | Purisma Incorporated | Purisma Incorporated | Purisma Incorporated | Corporate Shutdown Costs [Member] | Corporate Shutdown Costs [Member] | Fines and Imprisonment [Member] | ||||||
joint_venture | person | Shanghai Roadway D&B Marketing Services Co Ltd. | Shanghai Roadway D&B Marketing Services Co Ltd. | Shanghai Roadway D&B Marketing Services Co Ltd. | ||||||||||||||||||||||
person | ||||||||||||||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Divested and other revenue | $0 | $0.10 | $0 | $18.70 | ' | ' | ' | $1.30 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $5.40 | $22 | ' | ' | ' | ' | ' | ' |
Divested and other business, operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -14.5 | 2 | ' | ' | ' | ' | ' | ' |
Loss Contingency, Number of Defendants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5 | ' | ' | ' | ' | ' | ' | ' | 4 |
Shut-down costs related to the Roadway business | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.2 | 13.5 | ' |
Impairment charges | ' | ' | 0 | 16.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceed from divestiture of business | ' | ' | ' | ' | ' | 0.5 | ' | ' | 4.5 | ' | ' | 0.4 | ' | ' | 5 | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' |
Pre-tax gain (loss) from sale of business | ' | ' | ' | ' | ' | ' | 0.2 | ' | ' | 3 | ' | ' | -0.4 | ' | ' | 1.4 | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' |
Revenue | 411.1 | 413.2 | 1,178.50 | 1,199.90 | ' | ' | ' | ' | ' | ' | 64 | ' | ' | 4 | ' | ' | 16 | ' | ' | ' | ' | ' | 4 | ' | ' | ' |
Commercial arrangement with TSR to provide global data to its Japanese customers, term | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Commercial arrangement with TSR to provide global data to its Japanese customers, aggregate future cash payments | ' | ' | ' | ' | $140 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of joint venture companies sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Subsequent_Events_Additional_I
Subsequent Events - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 1 Months Ended | |||||||||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Oct. 23, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Aug. 31, 2012 | Oct. 30, 2011 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | 30-May-10 | |||||||||
Dividend Declared | Common Stock Repurchase Program [Member] | Common Stock Repurchase Program [Member] | Common Stock Repurchase Program [Member] | Common Stock Repurchase Program [Member] | Common Stock Repurchase Program [Member] | Common Stock Repurchase Program [Member] | Common Stock Repurchase Program [Member] | Repurchase Program To Mitigate Dilutive Effect [Member] | Repurchase Program To Mitigate Dilutive Effect [Member] | Repurchase Program To Mitigate Dilutive Effect [Member] | Repurchase Program To Mitigate Dilutive Effect [Member] | Repurchase Program To Mitigate Dilutive Effect [Member] | |||||||||||||
Stock Repurchase Plan One [Member] | Stock Repurchase Plan One [Member] | Stock Repurchase Plan One [Member] | Share Repurchase Program Twenty Ten [Member] | ||||||||||||||||||||||
Subsequent Event [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Dividend declared (in dollars per share) | ' | ' | ' | ' | $0.40 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Stock Repurchase Program, Period in Force | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '4 years | ||||||||
Stock Repurchase Program, Authorized Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | $500,000,000 | $500,000,000 | $1,000,000,000 | ' | ' | ' | ' | ' | ||||||||
Treasury Stock, Shares, Acquired | 721,245 | 435,733 | 3,945,013 | 3,463,999 | ' | 528,795 | [1] | 435,733 | [1] | 3,045,926 | [1] | 3,404,436 | [1] | ' | ' | ' | 192,450 | [2] | 0 | [2] | 899,087 | [2] | 59,563 | [2] | ' |
Treasury Stock, Value, Acquired, Cost Method | $75,000,000 | $36,000,000 | $358,100,000 | $240,000,000 | ' | $55,000,000 | [1] | $36,000,000 | [1] | $270,100,000 | [1] | $236,000,000 | [1] | ' | ' | ' | $20,000,000 | [2] | $0 | [2] | $88,000,000 | [2] | $4,000,000 | [2] | ' |
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | ||||||||
[1] | In August 2012, our Board of Directors approved a $500 million increase to our then existing $500 million share repurchase program, for a total program authorization of $1 billion. The then existing $500 million share repurchase program was approved by our Board of Directors in October 2011 and commenced in November 2011 upon completion of our previous $200 million share repurchase program. We anticipate that this program will be completed by mid-2014. | ||||||||||||||||||||||||
[2] | In May 2010, our Board of Directors approved a four-year, five million share repurchase program to mitigate the dilutive effect of the shares issued under our stock incentive plans and ESPP. This program commenced in October 2010 and expires in October 2014. |