TRANSUNION AND SUBSIDIARIES
Recast Historical Segment Revenue and Adjusted EBITDA (Unaudited)
The following tables present the segment results of operations for the years ended 2022 and 2023 as recast under the new operating segment structure. Adjusted EBITDA is the measure of profit or loss used by TransUnion’s (the “Company”) chief operating decision maker in accordance with Accounting Standards Codification 280, Segment Reporting.
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| | Three Months Ended | | Twelve Months Ended |
| | March 31, 2023 | | June 30, 2023 | | September 30, 2023 | | December 31, 2023 | | December 31, 2023 |
| Revenue: | | | | | | | | | |
| U.S. Markets gross revenue | | | | | | | | | |
| Financial Services | $ | 312.3 | | | $ | 323.6 | | | $ | 313.7 | | | $ | 295.3 | | | $ | 1,244.9 | |
| Emerging Verticals | 285.1 | | | 295.6 | | | 297.3 | | | 290.3 | | | 1,168.2 | |
| Consumer Interactive | 142.3 | | | 144.0 | | | 143.1 | | | 150.3 | | | 579.7 | |
| U.S. Markets gross revenue | $ | 739.7 | | | $ | 763.1 | | | $ | 754.0 | | | $ | 735.8 | | | $ | 2,992.8 | |
| | | | | | | | | |
| International gross revenue | | | | | | | | | |
| Canada | $ | 31.7 | | | $ | 35.3 | | | $ | 36.9 | | | $ | 36.6 | | | $ | 140.5 | |
| Latin America | 28.8 | | | 30.2 | | | 31.2 | | | 31.6 | | | 121.8 | |
| United Kingdom | 52.1 | | | 54.0 | | | 54.5 | | | 55.9 | | | 216.6 | |
| Africa | 14.6 | | | 14.5 | | | 15.2 | | | 16.3 | | | 60.6 | |
| India | 54.7 | | | 51.0 | | | 56.1 | | | 57.1 | | | 218.9 | |
| Asia Pacific | 21.7 | | | 23.2 | | | 23.1 | | | 24.0 | | | 91.9 | |
| International gross revenue | $ | 203.6 | | | $ | 208.1 | | | $ | 217.1 | | | $ | 221.5 | | | $ | 850.4 | |
| | | | | | | | | |
Total gross revenue1 | $ | 943.4 | | | $ | 971.3 | | | $ | 971.2 | | | $ | 957.3 | | | $ | 3,843.1 | |
| | | | | | | | | |
Intersegment revenue eliminations1 | | | | | | | | | |
| U.S. Markets | $ | (1.7) | | | $ | (1.9) | | | $ | (1.0) | | | $ | (1.6) | | | $ | (6.2) | |
| International | (1.4) | | | (1.4) | | | (1.5) | | | (1.4) | | | (5.7) | |
| Total intersegment revenue eliminations | $ | (3.1) | | | $ | (3.3) | | | $ | (2.5) | | | $ | (3.0) | | | $ | (11.9) | |
| | | | | | | | | |
| Total revenue as reported | $ | 940.3 | | | $ | 968.0 | | | $ | 968.7 | | | $ | 954.3 | | | $ | 3,831.2 | |
| | | | | | | | | |
| Adjusted EBITDA: | | | | | | | | | |
| U.S. Markets | $ | 268.8 | | | $ | 288.5 | | | $ | 293.7 | | | $ | 268.1 | | | $ | 1,119.0 | |
| International | 87.3 | | | 86.7 | | | 97.0 | | | 96.5 | | | 367.5 | |
| Corporate | (33.8) | | | (36.0) | | | (34.5) | | | (38.6) | | | (142.8) | |
Adjusted EBITDA margin:2 | | | | | | | | | |
| U.S. Markets | 36.3 | % | | 37.8 | % | | 38.9 | % | | 36.4 | % | | 37.4 | % |
| International | 42.9 | % | | 41.6 | % | | 44.7 | % | | 43.6 | % | | 43.2 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Three Months Ended | | Twelve Months Ended |
| | March 31, 2022 | | June 30, 2022 | | September 30, 2022 | | December 31, 2022 | | December 31, 2022 |
| Revenue: | | | | | | | | | |
| U.S. Markets gross revenue | | | | | | | | | |
| Financial Services | $ | 303.8 | | | $ | 321.8 | | | $ | 313.3 | | | $ | 286.8 | | | $ | 1,225.6 | |
| Emerging Verticals | 273.7 | | | 288.2 | | | 284.2 | | | 282.1 | | | 1,128.1 | |
| Consumer Interactive | 149.6 | | | 147.4 | | | 147.3 | | | 141.0 | | | 585.3 | |
| U.S. Markets gross revenue | $ | 727.0 | | | $ | 757.4 | | | $ | 744.7 | | | $ | 709.9 | | | $ | 2,939.0 | |
| | | | | | | | | |
| International gross revenue | | | | | | | | | |
| Canada | $ | 31.0 | | | $ | 33.5 | | | $ | 32.7 | | | $ | 32.4 | | | $ | 129.7 | |
| Latin America | 27.6 | | | 29.8 | | | 28.9 | | | 27.9 | | | 114.3 | |
| United Kingdom | 60.6 | | | 54.6 | | | 53.6 | | | 53.9 | | | 222.7 | |
| Africa | 14.8 | | | 15.7 | | | 15.6 | | | 15.8 | | | 61.8 | |
| India | 45.2 | | | 40.2 | | | 44.4 | | | 44.4 | | | 174.2 | |
| Asia Pacific | 17.8 | | | 20.1 | | | 21.1 | | | 21.3 | | | 80.3 | |
| International gross revenue | $ | 197.0 | | | $ | 193.8 | | | $ | 196.3 | | | $ | 195.8 | | | $ | 782.9 | |
| | | | | | | | | |
Total gross revenue1 | $ | 924.0 | | | $ | 951.2 | | | $ | 941.0 | | | $ | 905.7 | | | $ | 3,722.0 | |
| | | | | | | | | |
Intersegment revenue eliminations1 | | | | | | | | | |
| U.S. Markets | $ | (1.3) | | | $ | (1.4) | | | $ | (1.3) | | | $ | (2.1) | | | $ | (6.1) | |
| International | (1.5) | | | (1.5) | | | (1.5) | | | (1.5) | | | (6.0) | |
| Total intersegment revenue eliminations | $ | (2.7) | | | $ | (2.9) | | | $ | (2.8) | | | $ | (3.6) | | | $ | (12.1) | |
| | | | | | | | | |
| Total revenue as reported | $ | 921.3 | | | $ | 948.3 | | | $ | 938.2 | | | $ | 902.1 | | | $ | 3,709.9 | |
| | | | | | | | | |
| Adjusted EBITDA: | | | | | | | | | |
| U.S. Markets | $ | 283.7 | | | $ | 299.3 | | | $ | 289.5 | | | $ | 271.4 | | | $ | 1,144.0 | |
| International | 83.7 | | | 82.7 | | | 85.8 | | | 84.5 | | | 336.7 | |
| Corporate | (33.4) | | | (33.1) | | | (34.7) | | | (34.6) | | | (135.7) | |
Adjusted EBITDA margin:2 | | | | | | | | | |
| U.S. Markets | 39.0 | % | | 39.5 | % | | 38.9 | % | | 38.2 | % | | 38.9 | % |
| International | 42.5 | % | | 42.7 | % | | 43.7 | % | | 43.1 | % | | 43.0 | % |
1.Under the Company’s previous segment structure, the Company had intersegment revenue in its U.S. Markets segment, with equal and offsetting intercompany expense in the Consumer Interactive segment. Following the combination of these segments into one segment, the Company no longer has this intersegment revenue.
2.Segment Adjusted EBITDA margins are calculated using segment gross revenue and segment Adjusted EBITDA.
TRANSUNION AND SUBSIDIARIES
Recast Historical Segment Revenue and Adjusted EBITDA (Unaudited)
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| | Organic CC Growth1 | | | | | | | | | | |
| | Growth for the 2023 Period Compared With the Corresponding 2022 Period | | | | | | | | | | |
| | Q1 | | Q2 | | Q3 | | Q4 | | Full Year | | | | | | | | | | |
| Revenue: | | | | | | | | | | | | | | | | | | | | |
| Consolidated | | 1.7 | % | | 3.1 | % | | 3.2 | % | | 5.4 | % | | 3.3 | % | | | | | | | | | | |
| U.S. Markets | | (0.8) | % | | 0.8 | % | | 1.2 | % | | 3.6 | % | | 1.2 | % | | | | | | | | | | |
| Financial Services | | (1.4) | % | | 0.6 | % | | 0.1 | % | | 3.0 | % | | 0.5 | % | | | | | | | | | | |
| Emerging Verticals | | 2.0 | % | | 2.6 | % | | 4.6 | % | | 2.9 | % | | 3.0 | % | | | | | | | | | | |
| Consumer Interactive | | (4.7) | % | | (2.2) | % | | (2.8) | % | | 6.5 | % | | (0.9) | % | | | | | | | | | | |
| International | | 11.1 | % | | 12.4 | % | | 10.4 | % | | 11.5 | % | | 11.3 | % | | | | | | | | | | |
| Canada | | 8.9 | % | | 11.0 | % | | 16.1 | % | | 13.1 | % | | 12.3 | % | | | | | | | | | | |
| Latin America | | 10.9 | % | | 4.9 | % | | 2.7 | % | | 5.1 | % | | 5.8 | % | | | | | | | | | | |
| United Kingdom | | (7.9) | % | | (0.5) | % | | (4.9) | % | | (1.5) | % | | (3.8) | % | | | | | | | | | | |
| Africa | | 14.3 | % | | 10.2 | % | | 7.9 | % | | 11.4 | % | | 10.9 | % | | | | | | | | | | |
| India | | 32.4 | % | | 35.2 | % | | 31.0 | % | | 30.1 | % | | 32.1 | % | | | | | | | | | | |
| Asia Pacific | | 23.3 | % | | 16.7 | % | | 9.0 | % | | 11.8 | % | | 14.9 | % | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | |
| Adjusted EBITDA: | | | | | | | | | | | | | | | | | | | | |
| Consolidated | | (0.3) | % | | (1.6) | % | | 4.5 | % | | 1.2 | % | | 0.9 | % | | | | | | | | | | |
| U.S. Markets | | (3.9) | % | | (3.6) | % | | 1.4 | % | | (1.1) | % | | (1.8) | % | | | | | | | | | | |
| International | | 12.7 | % | | 9.5 | % | | 12.8 | % | | 12.8 | % | | 12.0 | % | | | | | | | | | | |
1.Organic Constant Currency (“CC”) growth rates assume foreign currency exchange rates are consistent between years and exclude the impact of inorganic activity from recent business acquisitions. This allows financial results to be evaluated without the impact of fluctuations in foreign currency exchange rates and inorganic activity.
