What changed in this filing

/stocks — the workspaceLOADING

Item 1. Business

2023-02-23 compared with 2022-02-24 · 68 added, 76 removed, 372 unchanged (28% of the section changed)

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We use advanced statistical techniques, machine learning and proprietary software tools to analyze available data to create customized insights, decision-making and process automation solutions and processing services for our clients.

We are a leading provider of information and solutions used in payroll-related and human resource management business process services in the United States of America (“U.S.”).

We are a leading provider of e-commerce fraud and charge back protection services in North America as well as information and solutions used in payroll-related and human resource management business process services in the United States of America (“U.S.”).

For consumers, we provide products and services to help people understand, manage and protect their personal information and make more informed financial decisions.

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North America (U.S.

and Canada), Asia Pacific (Australia, New Zealand and India), Europe (the United Kingdom (“U.K.”), Spain and Portugal) and Latin America (Argentina, Chile, Costa Rica, Ecuador, El Salvador, Honduras, Mexico, Paraguay, Peru and Uruguay).

and Canada), Asia Pacific (Australia, New Zealand and India), Europe (the United Kingdom (“U.K.”), Spain and Portugal) and Latin America (Argentina, Chile, Costa Rica, Dominican Republic, Ecuador, El Salvador, Honduras, Mexico, Paraguay, Peru and Uruguay).

We maintain support operations in the Republic of Ireland, Chile, Costa Rica and India.

We also offer Equifax-branded credit services in Russia through a joint venture, have investments in consumer and/or commercial credit information companies through joint ventures in Cambodia, Malaysia and Singapore and have an investment in a consumer and commercial credit information company in Brazil.

We also have investments in consumer and/or commercial credit information companies through joint ventures in Cambodia, Malaysia and Singapore and have an investment in a consumer and commercial credit information company in Brazil.

We previously had a joint venture in Russia that offered consumer credit services;

however, during the third quarter of 2022, we completed the sale of this equity method investment.

Equifax was originally incorporated under the laws of the State of Georgia in 1913, and its predecessor company dates back to 1899.

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We are organized and report our business results in three operating segments, as follows:

• Workforce Solutions — provides services enabling customers to verify income, employment, educational history, criminal history, healthcare professional licensure and sanctions (Verification Services) of people in the U.S., as well as providing our employer customers with services that assist them in complying with and automating certain payroll-related and human resource management processes throughout the entire cycle of the employment relationship, including unemployment cost management, employee screening, employee onboarding, tax credits and incentives, I-9 management and compliance, tax form management services and Affordable Care Act management services (Employer Services).

In the last four years, Workforce Solutions has established operations in Canada, Australia and more recently in the U.K.

• Workforce Solutions — provides services enabling customers to verify income, employment, educational history, criminal justice data, healthcare professional licensure and sanctions of people in the U.S.

(Verification Services), as well as providing our employer customers with services that assist them in complying with and automating certain payroll-related and human resource management processes throughout the entire cycle of the employment relationship, including unemployment cost management, employee screening, employee onboarding, tax credits and incentives, I-9 management and compliance, immigration case management, tax form management services and Affordable Care Act management services (Employer Services).

Workforce Solutions has established operations in Canada, Australia and most recently in the U.K.

Information Solutions (“USIS”) — provides consumer and commercial information solutions to businesses in the U.S.

including online information, decisioning technology solutions, identity management services, analytical services, fraud management services, portfolio management services, mortgage reporting and marketing services.

including online information, decisioning technology solutions, identity management services, analytical services, e-commerce fraud and charge back protection services, portfolio management services, mortgage reporting and marketing services.

We provide products to consumers in the U.S.

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We also provide information, technology and services to support debt collections and recovery management.

In addition, we also provide products to consumers in Canada, the U.K.

In addition, we provide products to consumers in Canada, the U.K.

and Australia to enable them to understand and monitor their credit and help protect their identity.

This operating segment is comprised of our Asia Pacific, Europe, Latin America and Canada business units.

It also includes our joint ventures in Russia, Cambodia, Malaysia and Singapore and investment in a consumer and commercial credit information company in Brazil.

In the fourth quarter of 2021, we integrated our Global Consumer Solutions business into our USIS, Workforce Solutions and International operating segments.

consumer credit monitoring solutions businesses have been moved into the Online Information Solutions business of USIS with the U.S.

consumer identity theft protection business moved to the Employer Services business of Workforce Solutions.

All international consumer credit monitoring solutions businesses in Canada and Europe have been moved into the respective country operations within the International operating segment.

These changes in operating segments align with how we manage our business as of the fourth quarter of 2021.

All segment disclosures within this Form 10-K have been restated to reflect this change in reportable segments.

It also includes our joint ventures in Cambodia, Malaysia and Singapore and investment in a consumer and commercial credit information company in Brazil.

Our Business Strategy

Our vision is to be a trusted global leader in data, advanced analytics and technology that creates innovative solutions and insights for our customers.

Our vision is to be a trusted global leader in data, analytics and technology that creates innovative solutions and insights for our customers.

Our business strategy is driven by the following imperatives:

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We use proprietary advanced analytical platforms, including capabilities in machine learning, artificial intelligence and advanced visualization tools, to leverage our unique data to develop leading analytical insights that enhance the precision of our customers’ decisioning activities.

Based on our cloud native data and technology transformation, we are investing to simplify our customers’ access to our leading analytical platforms, in order to speed the development of unique insights and the conversion of these insights into innovative new products and services consumable by our customers through our delivery platforms.

We strive to advance these capabilities and bring our customers multi-data solutions at scale by expanding our unique and differentiated data assets and analytics through organic growth, M&A and partnerships.

Based on our cloud native data and technology transformation, we are investing to simplify our customers’ access to our leading analytical and decisioning platforms, in order to speed the development of unique insights and the conversion of these insights into innovative new products and services consumable by our customers through our delivery platforms.

• Foster a culture of customer centricity.

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We seek to leverage our cloud native technology and unique data assets and capabilities, as well as customer expertise and customer data and technology assets, to drive the development of high-value analytical products and services targeted at a broader range of customer needs.

As part of our technology transformation, we are investing to simplify our customers’ access to our leading analytical platforms, in order to speed the development of unique insights and the conversion of these insights into new products and services consumable by our customers through our delivery platforms.

Our focus on customer centricity enables us to be more proactive in solving problems better and faster for customers while delivering enhanced operational readiness to provide a better customer experience.

• Execute strategic acquisitions that expand our capabilities and drive revenue growth.

• Execute strategic acquisitions that expand our data portfolio and capabilities and drive revenue growth.

A critical lever of our strategy is inorganic growth through accretive and strategic acquisitions that drive incremental annual revenue growth.

Our acquisition priorities are clear and focused on re-investing in bolt-on acquisitions that expand our unique differentiated data assets and solutions to strengthen and grow our core businesses.

We continue to invest, including through acquisitions and partnerships, to expand our addressable markets and the data and capabilities we offer to solve customer challenges across the services we provide in Workforce Solutions and to expand our access to differentiated data including across identity authentication, fraud mitigation and risk management.

We continue to invest, including through acquisitions and partnerships, to expand our addressable markets and the data and capabilities we offer to solve customer challenges across the services we provide and to expand our access to differentiated data including across identity authentication, fraud mitigation and risk management.

We believe there are opportunities to continue to expand in the U.S.

and internationally, across the existing financial, mortgage, telecommunications, automotive, insurance, healthcare, talent management, human resource services, government and other markets that we serve, as well as in new and emerging market segments.

and internationally, across the existing financial, mortgage, telecommunications, automotive, insurance, talent management, human resource services, government and other markets that we serve, as well as in new and emerging market segments.

• Continue our leadership in data security.

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We have built an Equifax culture that prioritizes security, and we consider data and technology security, and more broadly risk management, as a primary requirement in all decisions.

We make extensive use of advanced data and

technology security tools, techniques, services and processes in order to enhance our ability to protect the information with which we are entrusted.

We make extensive use of advanced data and technology security tools, techniques, services and processes in order to enhance our ability to protect the information with which we are entrusted.

We are committed to working openly with our peers, customers, and partners to tackle emerging security challenges, document best practices, provide vital data security thought leadership and work together to deliver solutions that benefit both the security community and consumers.

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At Equifax, we are committed to nurturing a culture where diverse talent thrives.

We are focused on providing meaningful opportunities for career advancement and development, fostering an inclusive work environment, and promoting employee engagement and recognition.

We are focused on providing meaningful opportunities for career advancement and development, fostering an inclusive work

environment, and promoting employee engagement and recognition.

We leverage our enterprise-wide talent initiatives to develop, retain and attract a highly-qualified workforce in order to promote our culture of innovation, add diverse perspectives and deliver on our business strategy.

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Markets and Clients

Our products and services serve clients across a wide range of verticals, including financial services, mortgage, government (state, federal and local), employers, consumer, commercial, telecommunications, retail, automotive, utilities, brokerage, healthcare and insurance.

Our products and services serve clients across a wide range of verticals, including mortgage, financial services, employers, government (state, federal and local), automotive, commercial, identity and fraud, consumer, resellers, healthcare, telecommunications, retail and insurance.

We also serve consumers directly.

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We also market our products and services through indirect channels, including alliance partners, joint ventures and other resellers.

In addition, we market our products directly to consumers through eCommerce channels.

In addition, we market our products directly to consumers through e-commerce channels.

Revenue from international clients, including end users and resellers, amounted to 22% of our total revenue in 2022, 22% of our total revenue in 2021 and 23% of our total revenue in 2020.

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Marketing services X X X X X

Direct-to-consumer credit monitoring X X X X

Direct-to-consumer credit monitoring X X X X X

Employment and income verification services X X X

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I-9 management services designed to help clients electronically comply with the immigration laws that require employers to complete an I-9 form for each new hire;

immigration case management services;

onboarding services using an online platform to complete the new hire process for employees of corporations and government agencies;

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In addition, we provide software and services to employers to assist in their compliance with the Affordable Care Act.

The Work Number ® is our key repository of employment and income data serving our Verification Services and Employer Services business units.

We rely on payroll data received from over two million organizations to regularly update the

The Work Number ® is our key repository of employment and income data serving our Verification Services business unit.

We rely on payroll data received from over two million organizations to regularly update the database.

The updates occur as employers and other data contributors transmit data electronically to Equifax from their payroll systems.

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The fees we charge for services in these two business units are generally on a per transaction basis.

We have not experienced significant turnover in the employer contributors to the database because we generally do not charge them to add their employment data to The Work Number ® database and the verification service we offer relieves them of the administrative burden and expense of responding to third-party employment verification requests while providing them with the assurance that the process is automated and not subject to human interpretation.

We have not experienced significant turnover in the employer contributors to the database because we generally do not charge them to add

their employment data to The Work Number ® database, and the verification service we offer relieves them of the administrative burden and expense of responding to third-party employment verification requests while providing them with the assurance that the process is automated and not subject to human interpretation.

The Work Number ® database held over 600 million current and historic employment records at December 31, 2022.

Workforce Solutions has established an income and employment verification service in Canada and Australia, known as Verification Exchange.

Workforce Solutions is in the process of building a similar income and employment verification service business in the U.K.

Workforce Solutions has established an income and employment verification service in Canada, Australia, and the U.K., known as Verification Exchange.

At present, revenues from these services in all three regions mentioned are insignificant.

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Mortgage lenders use these tri-merge reports in making their mortgage underwriting decisions.

Additionally, we offer services designed to alert lenders to changes in

a consumer’s credit status during the underwriting period and securitized portfolio risk assessment services for evaluating inherent portfolio risk.

Additionally, we offer services designed to alert lenders to changes in a consumer’s credit status during the underwriting period and securitized portfolio risk assessment services for evaluating inherent portfolio risk.

Financial Marketing Services.

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to develop portfolio strategies to minimize risk and maximize profitability;

and to realize additional revenue from existing customers through more effective cross-selling of additional products and services.

and to realize additional revenue from existing customers through more effective cross-selling of additional

products and services.

Our products are also utilized by customers to support digital identity verification and fraud detection and protection.

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The International operating segment includes our Asia Pacific, Europe, Latin America and Canada business units.

It also includes our joint ventures in Russia, Cambodia, Malaysia and Singapore and investment in a consumer and commercial credit information company in Brazil.

It also includes our joint ventures in Cambodia, Malaysia and Singapore and investment in a consumer and commercial credit information company in Brazil.

These business units offer products that are similar to those available in the USIS operating segment, but with variations by geographic region.

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We also offer specialized services that help our customers better manage risk in their consumer portfolios.

This operating segment’s products and services generate revenue in Argentina, Australia, Canada, Chile, Costa Rica, Ecuador, El Salvador, Honduras, India, Mexico, New Zealand, Paraguay, Peru, Portugal, Spain, the U.K.

This operating segment’s products and services generate revenue in Argentina, Australia, Canada, Chile, Costa Rica, Ecuador, El Salvador, Honduras, Dominican Republic, India, Mexico, New Zealand, Paraguay, Peru, Portugal, Spain, the U.K.

We also maintain support operations in the Republic of Ireland, Chile, Costa Rica, and India.

We offer consumer credit services in Russia through an investment in a joint venture, have investments in consumer and/or commercial credit information companies through joint ventures in Cambodia, Malaysia and Singapore, and have an investment in a consumer and commercial credit information company in Brazil.

We have investments in consumer and/or commercial credit information companies through joint ventures in Cambodia, Malaysia and Singapore and have an investment in a consumer and commercial credit information company in Brazil.

We also provide information, technology and services to support debt collections and recovery management in Asia Pacific, Europe, Canada and Latin America.

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Additionally, we provide a variety of consumer and commercial marketing products generated from information databases, including business profile analysis, business prospect lists and database management.

The countries in which we operate include Australia, New Zealand and India, as well as through joint ventures in Russia, Cambodia, Malaysia and Singapore.

The countries in which we operate include Australia, New Zealand and India, as well as Cambodia, Malaysia and Singapore through joint ventures.

Our Europe operation provides information solutions, fraud detection services, debt collection services and marketing products.

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Additionally, we provide a variety of consumer and commercial marketing products generated from our credit information databases, including business profile analysis, business prospect lists and database management.

countries in this region in which we operate include Argentina, Chile, Costa Rica, Ecuador, El Salvador, Honduras, Mexico, Paraguay, Peru and Uruguay.

The countries in this region in which we operate include Argentina, Chile, Costa Rica, Dominican Republic, Ecuador, El Salvador, Honduras, Mexico, Paraguay, Peru and Uruguay.

We also have an investment in a consumer and commercial credit information company in Brazil.

Similar to the USIS business units, our Canada operation offers products derived from the credit information that we maintain about individual consumers and businesses.

We offer many products in Canada, including credit reporting and scoring, consumer and commercial marketing, risk management, fraud detection and modeling services, identity management and authentication services, together with certain of our decisioning products that facilitate pre-approved offers of credit and automate a variety of credit decisions.

automate a variety of credit decisions.

We also provide information, technology and services to support debt collections and recovery management, as well as data, technology and services to facilitate the search of land data and process real estate transactions in Canada.

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• Competition for our commercial solutions products primarily includes Experian, Dun & Bradstreet and Moody's, and providers of these services in the international markets we serve.

• Competition for our debt collection and recovery management software, services and analytics is similar to the competition for our consumer credit information solutions.

• Competition for our debt collection and recovery management software, services and analytics is spread across a number of providers.

We believe that the breadth and depth of our data assets enable our clients to develop a more current and comprehensive view of consumers.

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technical performance including system response time and availability;

access to unique proprietary

access to unique proprietary databases;

quickness of response, flexibility and client services and support;

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We also have registered and common law trademarks, service marks, logos and internet domain names in the U.S.

and in many foreign countries, the most important of which include “Equifax,” “The Work Number,” “Interconnect,” “Equifax Ignite,” and variations thereof.

and in many foreign countries, the most

important of which include “Equifax,” “The Work Number,” “Interconnect,” “Equifax Ignite,” and variations thereof.

These marks are used in connection with many of our product lines and services.

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Failure to satisfy those legal and regulatory requirements, or the adoption of new laws or regulations, could have a significant negative impact on our results of operations, financial condition or liquidity.

federal, state, local and foreign laws and regulations are evolving and can be subject to significant change, particularly given the 2021 change in U.S.

presidential administration and the U.S.

federal, state, local and foreign laws and regulations are evolving and can be subject to significant change.

In addition, the application and interpretation of these laws and regulations are often uncertain.

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FCRA provisions govern the accuracy, fairness and privacy of information in the files of consumer reporting agencies (“CRAs”) that engage in the practice of assembling or evaluating certain information relating to consumers for certain specified purposes.

The FCRA limits the type of information that may be reported by CRAs, limits the distribution and use of consumer reports and establishes consumer rights to access, freeze and dispute information in the consumer's files.

Among other requirements, the FCRA limits the type of information that may be reported by CRAs, limits the distribution and use of consumer reports and establishes consumer rights to access, freeze and dispute information in the consumer's files.

CRAs are required to follow reasonable procedures to assure maximum possible accuracy of the information concerning the individual about whom the report relates and if a consumer disputes the accuracy of any information in the consumer’s file, to conduct a reasonable reinvestigation.

CRAs are required to make available to consumers a free annual credit report and free credit freezes.

imposes many other requirements on CRAs, data furnishers and users of consumer report information.

The Consumer Financial Protection Bureau (“CFPB”) is the primary regulator that enforces and provides regulatory guidance related to the FCRA in the United States.

CRAs are required to comply with regulations promulgated by the CFPB and are subject to regular supervisory engagements related to a variety of FCRA requirements.

Violation of the FCRA can result in civil and criminal penalties.

The FCRA contains an attorney fee shifting provision to provide an incentive for consumers to bring individual or class action lawsuits against a CRA for violations of the FCRA.

Regulatory enforcement of the FCRA is under the purview of the United States Federal Trade Commission (“FTC”), the Consumer Financial Protection Bureau (“CFPB”) and state attorneys general, acting alone or in concert with one another.

The United States Federal Trade Commission (“FTC”) and state attorneys general may also enforce the requirements of the FCRA.

• Dodd-Frank Act.

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The Dodd-Frank Act provides the CFPB with examination and supervisory authority over CRAs, including us.

The Dodd-Frank Act prohibits unfair, deceptive or abusive acts or practices (“UDAAP”) with respect to consumer financial services practices and provides the CFPB with enforcement authority to enforce those provisions.

The Dodd-Frank Act prohibits unfair, deceptive or abusive acts or practices (“UDAAP”)

with respect to consumer financial services practices and provides the CFPB with enforcement authority to enforce those provisions.

Among other areas, the CFPB’s UDAAP authority extends to the security measures we employ to safeguard the personal data of consumers.

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The CCPA expansively defines “personal information” and imposes new notice requirements relating to the collection, use and sharing of personal information.

It provides consumers with extensive rights, including the right to access the categories and specific pieces of personal information businesses collect, the right to request businesses delete information, and the right to opt-out of “sales” of personal information with sales being defined under the CCPA to include monetary and non-monetary valuable consideration.

consideration.

The CCPA also contains a private right of action in the event that a business suffers a security breach that was due to unreasonable security measures.

In November 2020, California voters passed the California Privacy Rights Act (“CPRA”), which maintains the core framework but expands the requirements of the CCPA effective January 1, 2023.

We may also become subject to and affected by new and proposed state privacy laws similar to the CCPA and CPRA, such as the Virginia Consumer Data Protection Act (“VCDPA”) which becomes effective January 1, 2023, and the Colorado Privacy Act (“CPA”) which becomes effective July 1, 2023.

In November 2020, California voters passed the California Privacy Rights Act (“CPRA”), which maintains the core framework but expanded the requirements of the CCPA effective January 1, 2023.

We may also become subject to and affected by new and proposed state privacy laws similar to the CCPA and CPRA, such as the Virginia Consumer Data Protection Act (“VCDPA”) which became effective January 1, 2023, and the Colorado Privacy Act (“CPA”) which becomes effective July 1, 2023.

A number of other state legislatures, including New York, Florida and Washington, have introduced comprehensive data privacy legislation modeled after, and which contain certain elements of, the CCPA, VCDPA or the European Union's General Data Protection Regulation (“GDPR”), which is an extremely broad privacy law.

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it has the power to instruct firms to immediately retract or modify promotions which it finds to be misleading, and to publish such decisions.

Effective December 2019, the FCA framework under which we operate has included the “senior managers and certification regime” which, among other things will allow the FCA to bring an enforcement action directly against designated personnel who do not take reasonable steps to avoid non-compliance.

Our core credit

reporting and debt collections services and recovery management businesses in the U.K.

Our core credit reporting and debt collections services and recovery management businesses in the U.K.

are subject to FCA supervision.

In July 2022, the FCA set out final rules and guidance for a new Consumer Duty that will set higher expectations for the standard of care firms give consumers.

In addition to regulation by the FCA, we are also subject to regulation by the U.K.

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and most other countries where Equifax operates.

In addition, the GDPR includes data breach notification requirements and it establishes the ability of regulators to pursue substantial penalties for non-compliance.

In addition, the GDPR includes data breach

notification requirements and it establishes the ability of regulators to pursue substantial penalties for non-compliance.

In addition to the GDPR, each EU member state may include specific requirements regarding personal data breaches in its local data protection regulations.

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Equifax Australasia Credit Ratings Pty Limited (formerly named Corporate Scorecard Pty Limited, one of our Australian subsidiaries) holds an Australia Financial Services License, which allows it to provide general advice to wholesale clients by issuing a credit rating, and has been approved in New Zealand as a rating agency by the Reserve Bank of New Zealand under section 86 of the Non-bank Deposit Takers Act of 2013 (NZ).

The Australian Securities and Investments Commission regulates corporations and has

authority to investigate, prosecute, ban individuals and to seek civil penalties.

The Australian Securities and Investments Commission regulates corporations and has authority to investigate, prosecute, ban individuals and to seek civil penalties.

New federal legislation came into effect in February 2021 mandating the supply by banks of comprehensive credit information to credit reporting bodies, including Equifax, imposing certain disclosure, storage and reporting obligations on the credit reporting bodies, requiring the provision by credit reporting bodies of free credit reports to consumers up to four times per year, permitting the reporting of financial hardship information within the credit reporting system and requiring the Attorney-General to review and report on the credit reporting system before October 1, 2024.

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The NZ OPC can make a finding that there has been an interference with privacy but cannot impose civil penalties for this.

In extreme cases where there has been an interference with privacy, it can refer these cases to the Director of Human Rights for determination in the Human Rights Review Tribunal.

In extreme cases where there has been an interference with privacy, it can refer these cases to the Director of Human Rights for

determination in the Human Rights Review Tribunal.

The NZ OPC can issue practice codes under the Privacy Act 2020 and has issued and subsequently amended the Credit Reporting Privacy Code 2020.

The Privacy Act 2020 contains newly introduced mandatory data breach reporting.

The Privacy Act 2020 contains mandatory data breach reporting.

The Retail Credit Association of New Zealand is an industry association which addresses reciprocity of data issues relating to comprehensive credit reporting and data standards.

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The Indian parliament is expected to pass legislation that provides greater protection to individuals' personal data.

To this end, Indian legislators introduced the Personal Data Protection Bill in December 2019, which is expected to be considered in 2022 with amendments.

To this end, in November 2022, Indian legislators introduced the Digital Personal Data Protection Bill (2022).

The Digital Personal Data Protection Bill (2022) is expected to be considered in 2023 with amendments.

This bill is expected to be enacted and eventually to impose additional privacy and data security requirements.

Our Indian business is subject to regulation by the Reserve Bank of India, which is India’s central banking institution.

• In Russia , credit reporting activities are governed by the Federal Law on Credit Histories No.218-fz, dated December 30, 2004.

The law regulates the contents of credit files, who may submit data to a credit bureau and who can receive credit reports.

Russia has also enacted a comprehensive data protection law that is similar to Europe’s approach and also has a data localization law.

In December 2019, a law increasing the fines for infringing Russia data localization and data protection laws came into force and Russia recently expanded its data protection laws to provide individuals with new rights.

Summary of Regulations Affecting our Employer Services Business

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We continue to make positive strides in support of our inclusion and diversity strategy.

As a visible commitment to inclusion and diversity, in 2020, we established our first Chief Talent and Diversity Officer title.

This key leadership position reports directly to our Chief Human Resources Officer and is responsible for activating our talent strategy with a focus on furthering an inclusive and diverse workforce and culture.

Our Chief Talent and Diversity Officer occupies a key leadership position, reporting directly to our Chief Human Resources Officer, and is responsible for activating our talent strategy with a focus on furthering an inclusive and diverse workforce and culture.

We are advancing this strategy through deepening our commitment to employee networks around the world, open dialogues to enhance understanding, ongoing inclusion and diversity-focused training and cultural heritage celebrations.

We have consistently improved enterprise-wide trends around representation and promotions for both women and employees of diverse ethnic backgrounds, and pride ourselves on promoting and hiring highly-qualified candidates who enhance our culture, add diverse perspectives and deliver on our business strategy.

Women and leaders of diverse ethnic backgrounds make up over half of Equifax’s senior leadership team, including all three of our business unit leaders.

Consistent with our commitment to diversity, we recently implemented the requirement for diverse candidate slates for all higher level management roles.

Workforce Health and Safety

In fiscal year 2021, the COVID-19 pandemic continued to have a significant impact on our people.

The safety and well-being of our employees remains paramount and we comply with all federal, state and local jurisdictional safety and health requirements.

See “Recent Events and Company Outlook” included in Item 7., “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” for additional detail regarding the impact of COVID-19 on our company.

Women and leaders of diverse ethnic backgrounds make up approximately half of Equifax’s senior leadership team.

Consistent with our commitment to diversity, we have expanded the requirements for diverse candidate interview slates for all professional and management roles.

Forward-Looking Statements

This report contains information that may constitute “forward-looking statements.” Generally, the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “project,” “will,” “may” and similar expressions identify forward-looking statements, which generally are not historical in nature.

All statements that address future operating performance and events or developments that we expect or anticipate will occur in the future, including statements relating to future operating results, improvements in our information technology and data security infrastructure, including as a part of our cloud data and technology transformation, our strategy, the expected financial and operational benefits, synergies and growth from our acquisitions, our ability to mitigate or manage disruptions posed by COVID-19, the extent of the impact of COVID-19, changes in U.S.

and worldwide economic conditions, such as rising interest rates and inflation, that materially impact consumer spending, consumer debt and employment and the demand for Equifax's products and services, our culture, our ability to innovate, the market acceptance of new products and services and similar statements about our business plans are forward-looking statements.

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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business