IHS Inc. Reports Fourth Quarter and Full Year 2012 Results

  IHS Inc. Reports Fourth Quarter and Full Year 2012 Results

  *Quarterly revenue of $414 million, up 12%
  *Quarterly organic revenue growth rate of 4% overall, including 7% for
    subscription-based business
  *Adjusted EBITDA of $140 million, or 33.8% of revenue for the quarter
  *EPS of $0.69 and adjusted EPS of $1.21 for the quarter

Business Wire

ENGLEWOOD, Colo. -- January 8, 2013

IHS Inc. (NYSE: IHS), the leading global source of information and analytics,
today reported results for the fourth quarter and full year ended November30,
2012. Revenue for the fourth quarter of 2012 totaled $414 million, a 12
percent increase over fourth quarter 2011 revenue of $371 million. Net income
for the fourth quarter of 2012 was $46 million, or $0.69 per diluted share,
compared to fourth quarter 2011 net income of $23 million, or $0.34 per
diluted share. Revenue for fiscal year 2012 totaled $1.530 billion, up 15
percent over the prior year total of $1.326 billion. Fiscal year 2012 net
income was $158 million, or $2.37 per diluted share, compared to fiscal year
2011 net income of $135 million, or $2.06 per diluted share.

Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation and
Amortization) totaled $140 million for the fourth quarter of 2012, up 17
percent from $119 million in the fourth quarter of 2011. Adjusted earnings per
diluted share were $1.21 for the fourth quarter of 2012, an increase of 22
percent over the prior-year period. Adjusted EBITDA for fiscal year 2012
totaled $485 million, up 21 percent from $401 million in 2011. Adjusted
earnings per diluted share were $3.94 for fiscal 2012, an increase of 15
percent over the prior-year period. Adjusted EBITDA and adjusted earnings per
share (EPS) are non-GAAP (Generally Accepted Accounting Principles) financial
measures used by management to measure operating performance. Please see the
end of this release for more information about these non-GAAP measures.

“The fourth quarter proved to be exactly what we thought it would be - solid
performance in the face of strong macroeconomic headwinds, and we were pleased
to deliver the fourth quarter and full year goals we outlined in September,”
said Jerre Stead, IHS chairman and chief executive officer. “As we complete
key investments in 2013, we will be better positioned than ever to achieve our
long-term profitable growth goals."

Fourth Quarter 2012 Details

Revenue for the fourth quarter of 2012 totaled $414 million, a 12 percent
increase over fourth quarter 2011 revenue of $371 million. Organic growth in
the fourth quarter of 2012 was four percent. Acquisitions added eight percent,
and foreign currency movements had a negligible impact. The subscription-based
business grew seven percent organically.

                                                                                                                   
                       Three Months Ended              Absolute     Organic     Year Ended                          Absolute     Organic
                       November 30,                                             November 30,
                       2012          2011            % change     %           2012            2011              % change     %
                                                                    change                                                       change
Subscription           $ 302,187       $ 272,893       11   %       7   %       $ 1,157,347       $ 1,020,800       13   %       8   %
revenue
Non-subscription       112,171        97,763         15   %       (4  )%      372,522          304,838          22   %       (4  )%
revenue
Total revenue          $ 414,358      $ 370,656      12   %       4   %       $ 1,529,869      $ 1,325,638      15   %       5   %
                                                                                                                                     

IHS continued to grow its business overall in all three of its operating
regions. The Americas segment increased its revenue during the fourth quarter
by $24 million, or 11 percent, to $243 million. The EMEA segment grew its
fourth quarter revenue by $13 million, or 12 percent, to $122 million. The
APAC segment's revenue was up $7 million, or 15 percent, to $50 million.

Adjusted EBITDA for the fourth quarter of 2012 was $140 million, up $21
million, or 17 percent, over the prior-year period. Operating income increased
$29 million, or 112 percent, to $55 million. Americas' operating income
increased $10 million, or 15 percent, to $73 million. EMEA's operating income
was down $2 million, or six percent, to $26 million. APAC's operating income
grew $1 million, or seven percent, to $17 million.

Full Year 2012

Revenue for the year ended November30, 2012, increased $204 million, or 15
percent, to $1.530 billion. Organic revenue growth was five percent overall
and eight percent for the subscription-based portion of the business.
Acquisitions added 11 percent, and foreign currency movements decreased
revenue by one percent during fiscal year 2012. The Americas segment grew its
revenue during the year ended November30, 2012, by $114 million, or 14
percent, to $912 million. The EMEA segment increased its fiscal year 2012
revenue by $59 million, or 15 percent, to $443 million. The APAC segment
increased its revenue by $31 million, or 22 percent, to $174 million, during
fiscal 2012.

Adjusted EBITDA for fiscal 2012 increased $84 million, or 21 percent, to $485
million. Operating income increased $35 million, or 20 percent, year-over-year
to $207 million. Americas’ operating income was $263 million, up $38 million,
or 17 percent, over the prior-year period. EMEA grew its fiscal year 2012
operating income to $95 million, up $13 million, or 16 percent, over the prior
year. APAC’s operating income was $46 million, an increase of $2 million, or
four percent, over last year.

Cash Flows

Excluding a $57 million pension funding contribution, IHS generated $371
million of cash flow from operations during the year ended November30, 2012,
representing a nine percent increase over last year's $342 million.

Balance Sheet

IHS ended fourth quarter 2012 with $345 million of cash and cash equivalents
and $1.061 billion of debt.

Outlook (forward-looking statement)

For the year ending November 30, 2013, IHS reaffirms and expects:

  *All-in revenue in a range of $1.640 billion to $1.710 billion, including
    an overall organic growth rate expected to be between 5-7 percent at the
    midpoint;
  *All-in adjusted EBITDA in a range of $540 million to $582 million; and
  *Adjusted EPS between $4.23 and $4.43 per diluted share.

Additionally, for the year ending November 30, 2013, IHS expects:

  *Depreciation and amortization expense to be approximately $140-145
    million;
  *Net interest expense to be approximately $21 million;
  *Stock-based compensation expense to be approximately $138-142 million;
  *An adjusted tax rate of approximately 26-28 percent; and
  *Fully diluted shares to be approximately 67 million.

The above outlook assumes no further currency movements, acquisitions,
divestitures, pension mark-to-market adjustments or unanticipated events. See
discussion of non-GAAP financial measures at the end of this release.

As previously announced, IHS will hold a conference call to discuss fourth
quarter and full year 2012 results on January8, 2013, at 8:00 a.m. EST. The
conference call will be simultaneously webcast on the company's website:
www.ihs.com.

Use of Non-GAAP Financial Measures

Non-GAAP results are presented only as a supplement to the financial
statements based on U.S. generally accepted accounting principles (GAAP). The
non-GAAP financial information is provided to enhance the reader's
understanding of our financial performance, but no non-GAAP measure should be
considered in isolation or as a substitute for financial measures calculated
in accordance with GAAP. Reconciliations of the most directly comparable GAAP
measures to non-GAAP measures, such as adjusted EBITDA and adjusted earnings
per diluted share, are provided within the schedules attached to this release.

EBITDA is defined as net income plus or minus net interest plus income taxes,
depreciation and amortization. Adjusted EBITDA further excludes (i) non-cash
items (e.g., stock-based compensation expense and non-cash pension and
postretirement expense) and (ii) items that management does not consider to be
useful in assessing our operating performance (e.g., acquisition-related
costs, restructuring charges, income or loss from discontinued operations, and
gain or loss on sale of assets). Adjusted earnings per diluted share exclude
similar items as adjusted EBITDA. None of these non-GAAP financial measures
are recognized terms under GAAP and do not purport to be an alternative to net
income as an indicator of operating performance or any other GAAP measure.

Management uses these non-GAAP measures in its operational and financial
decision-making, believing that it is useful to eliminate certain items in
order to focus on what it deems to be a more reliable indicator of ongoing
operating performance and our ability to generate cash flow from operations.
As a result, internal management reports used during monthly operating reviews
feature the adjusted EBITDA and adjusted earnings per diluted share metrics.
Management also believes that investors may find non-GAAP financial measures
useful for the same reasons, although investors are cautioned that non-GAAP
financial measures are not a substitute for GAAP disclosures. EBITDA, adjusted
EBITDA, and adjusted earnings per diluted share are also used by many of our
investors, research analysts, investment bankers, and lenders to assess our
operating performance. For example, a measure similar to adjusted EBITDA is
required by the lenders under our term loan and revolving credit agreement.

Because not all companies use identical calculations, our presentation of
non-GAAP financial measures may not be comparable to other similarly-titled
measures of other companies. However, these measures can still be useful in
evaluating our performance against our peer companies because management
believes the measures provide users with valuable insight into key components
of GAAP financial disclosures. For example, a company with greater GAAP net
income may not be as appealing to investors if its net income is more heavily
comprised of gains on asset sales. Likewise, eliminating the effects of
interest income and expense moderates the impact of a company's capital
structure on its performance.

All of the items included in the reconciliation from net income to adjusted
EBITDA are either (i)non-cash items (e.g., depreciation and amortization,
stock-based compensation, non-cash pension and postretirement expense) or
(ii)items that we do not consider to be useful in assessing our operating
performance (e.g., income taxes, acquisition-related costs, restructuring
charges, income or loss from discontinued operations, and gain or loss on sale
of assets). In the case of the non-cash items, management believes that
investors can better assess our operating performance if the measures are
presented without such items because, unlike cash expenses, these adjustments
do not affect our ability to generate free cash flow or invest in our
business. For example, by eliminating depreciation and amortization from
EBITDA, users can compare operating performance without regard to different
accounting determinations such as useful life. In the case of the other items,
management believes that investors can better assess operating performance if
the measures are presented without these items because their financial impact
does not reflect ongoing operating performance.

IHS Forward-Looking Statements

This release may contain forward-looking statements as defined in the Private
Securities Litigation Reform Act of 1995. Forward-looking statements are
statements that are not historical facts. Such statements may include
financial projections and estimates and their underlying assumptions,
statements regarding plans, objectives and expectations with respect to future
operations, products and services, and statements regarding future
performance. Forward-looking statements are generally identified by the words
"expect," "anticipate," "believe," "intend," "estimate," "plan" and similar
expressions. Although IHS and its management believe that the expectations
reflected in such forward-looking statements are reasonable, investors are
cautioned that forward-looking information and statements are subject to
various risks and uncertainties-many of which are difficult to predict and
generally beyond the control of IHS-that could cause actual results and
developments to differ materially from those expressed in, or implied or
projected by, the forward-looking information and statements. These risks and
uncertainties include those discussed or identified by IHS from time to time
in its public filings. Other than as required by applicable law, IHS does not
undertake any obligation to update or revise any forward-looking information
or statements. Please consult our public filings at www.sec.gov or
www.ihs.com.

About IHS Inc. (www.ihs.com)

IHS (NYSE: IHS) is the leading source of information, insight and analytics in
critical areas that shape today’s business landscape. Businesses and
governments in more than 165 countries around the globe rely on the
comprehensive content, expert independent analysis and flexible delivery
methods of IHS to make high-impact decisions and develop strategies with speed
and confidence. IHS has been in business since 1959 and became a publicly
traded company on the New York Stock Exchange in 2005. Headquartered in
Englewood, Colorado, USA, IHS is committed to sustainable, profitable growth
and employs more than 6,000 people in 31 countries around the world.

IHS is a registered trademark of IHS Inc. All other company and product names
may be trademarks of their respective owners.

© 2013 IHS Inc. All rights reserved.

                                                 
IHS INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except for share and per-share amounts)

(Unaudited)
                                                             
                           As of                             As of
                           November 30, 2012                 November 30, 2011
Assets
Current assets:
Cash and cash              $   345,008                       $   234,685
equivalents
Accounts receivable,       372,117                           326,009
net
Income tax                 20,464                            25,194
receivable
Deferred                   47,065                            43,136
subscription costs
Deferred income            55,084                            45,253
taxes
Other                      24,145                           23,801         
Total current assets       863,883                          698,078        
Non-current assets:
Property and               163,013                           128,418
equipment, net
Intangible assets,         554,552                           514,949
net
Goodwill, net              1,959,223                         1,722,312
Other                      8,540                            9,280          
Total non-current          2,685,328                        2,374,959      
assets
Total assets               $   3,549,211                    $   3,073,037  
Liabilities and
stockholders’ equity
Current liabilities:
Short-term debt            $   170,102                       $   144,563
Accounts payable           52,079                            32,428
Accrued compensation       50,497                            57,516
Accrued royalties          33,637                            26,178
Other accrued              55,304                            69,000
expenses
Deferred revenue           515,318                          487,172        
Total current              876,937                           816,857
liabilities
Long-term debt             890,922                           658,911
Accrued pension            19,602                            59,460
liability
Accrued
postretirement             10,425                            9,200
benefits
Deferred income            139,235                           123,895
taxes
Other liabilities          27,732                            19,985
Commitments and
contingencies
Stockholders’
equity:
Class A common
stock, $0.01 par
value per share,
160,000,000 shares
authorized,
67,621,367 and
67,527,344 shares          676                               675
issued, and
65,577,530 and
65,121,884 shares
outstanding at
November 30, 2012
and November 30,
2011, respectively
Additional paid-in         681,409                           636,440
capital
Treasury stock, at
cost: 2,043,837 and
2,405,460 shares at        (139,821       )                  (133,803       )
November 30, 2012
and 2011,
respectively
Retained earnings          1,088,787                         930,619
Accumulated other          (46,693        )                  (49,202        )
comprehensive loss
Total stockholders’        1,584,358                        1,384,729      
equity
Total liabilities
and stockholders’          $   3,549,211                    $   3,073,037  
equity
                                                                            
                                                                            

                                                         
IHS INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except for per-share amounts)

(Unaudited)
                                                                  
                          Three Months Ended                      Year Ended

                          November 30,                            November 30,
                          2012           2011                  2012             2011
Revenue:
Products                  $ 357,925         $ 319,085             $ 1,322,369         $ 1,151,091
Services                  56,433           51,571               207,500            174,547     
Total revenue             414,358           370,656               1,529,869           1,325,638
Operating expenses:
Cost of revenue:
Products                  134,283           120,701               527,214             464,138
Services                  24,624           25,906               97,300             94,354      
Total cost of
revenue (includes
stock-based
compensation
expense of $1,739;
$1,042; $6,206 and        158,907           146,607               624,514             558,492
$3,680 for the
three months and
years ended
November 30, 2012
and 2011,
respectively)
Selling, general
and administrative
(includes
stock-based
compensation
expense of $28,872;
$21,339; $115,337         143,503           128,689               534,043             453,481
and $82,514 for the
three months and
years ended
November 30, 2012
and 2011,
respectively)
Depreciation and          31,560            25,628                118,243             88,039
amortization
Restructuring             4,749             540                   16,829              1,242
charges
Acquisition-related       675               1,911                 4,147               8,000
costs
Net periodic
pension and               18,919            42,612                24,917              44,995
postretirement
expense
Other expense             569              (1,495    )           (111        )       (1,079      )
(income), net
Total operating           358,882          344,492              1,322,582          1,153,170   
expenses
Operating income          55,476            26,164                207,287             172,468
Interest income           325               208                   999                 862
Interest expense          (5,736    )       (4,572    )           (20,573     )       (11,346     )
Non-operating             (5,411    )       (4,364    )           (19,574     )       (10,484     )
expense, net
Income from
continuing                50,065            21,800                187,713             161,984
operations before
income taxes
Income tax benefit        (3,656    )       1,256                (29,564     )       (26,695     )
(provision)
Income from
continuing                46,409            23,056                158,149             135,289
operations
Income (loss) from
discontinued              11               (328      )           19                 126         
operations, net
Net income                $ 46,420         $ 22,728             $ 158,168          $ 135,415   
                                                                                      
Basic earnings per
share:
Income from
continuing                $ 0.70            $ 0.35                $ 2.40              $ 2.08
operations
Income (loss) from
discontinued              $ —              $ (0.01   )           $ —                $ —         
operations, net
Net income                $ 0.70           $ 0.35               $ 2.40             $ 2.09      
Weighted average
shares used in            65,974           65,163               65,840             64,938      
computing basic
earnings per share
                                                                                      
Diluted earnings
per share:
Income from
continuing                $ 0.69            $ 0.35                $ 2.37              $ 2.06
operations
Income (loss) from
discontinued              $ —              $ —                  $ —                $ —         
operations, net
Net income                $ 0.69           $ 0.34               $ 2.37             $ 2.06      
Weighted average
shares used in            67,136           66,199               66,735             65,716      
computing diluted
earnings per share
                                                                                                  
                                                                                                  

                                   
IHS INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)
                                       
                                       Year Ended November 30,
                                       2012                2011
Operating activities:
Net income                             $ 158,168                   $ 135,415
Reconciliation of net income to
net cash provided by operating
activities:
Depreciation and amortization          118,243                     88,039
Stock-based compensation expense       121,543                     86,194
Excess tax benefit from                (13,199   )                 (9,943    )
stock-based compensation
Net periodic pension and               24,917                      44,648
postretirement expense
Pension and postretirement             (68,339   )                 —
contributions
Deferred income taxes                  (16,451   )                 (1,683    )
Change in assets and
liabilities:
Accounts receivable, net               (35,410   )                 (35,137   )
Other current assets                   (2,246    )                 (1,508    )
Accounts payable                       22,383                      (4,302    )
Accrued expenses                       (17,567   )                 5,267
Income tax payable                     21,220                      (9,082    )
Deferred revenue                       692                         43,757
Other liabilities                      419                        385       
Net cash provided by operating         314,373                    342,050   
activities
Investing activities:
Capital expenditures on property       (64,732   )                 (54,340   )
and equipment
Acquisitions of businesses, net        (306,268  )                 (730,058  )
of cash acquired
Intangible assets acquired             (3,700    )                 (2,985    )
Change in other assets                 1,708                       (5,687    )
Settlements of forward contracts       (2,268    )                 (168      )
Net cash used in investing             (375,260  )                 (793,238  )
activities
Financing activities:
Proceeds from borrowings               750,001                     954,031
Repayment of borrowings                (493,080  )                 (444,775  )
Payment of debt issuance costs         (824      )                 (6,326    )
Excess tax benefit from                13,199                      9,992
stock-based compensation
Proceeds from the exercise of          2,938                       2,144
employee stock options
Repurchases of common stock            (92,823   )                 (32,249   )
Net cash provided by financing         179,411                    482,817   
activities
Foreign exchange impact on cash        (8,201    )                 2,321     
balance
Net increase in cash and cash          110,323                     33,950
equivalents
Cash and cash equivalents at the       234,685                    200,735   
beginning of the period
Cash and cash equivalents at the       $ 345,008                  $ 234,685 
end of the period
                                                                             
                                                                             

                                                                                                                    
IHS INC.

SUPPLEMENTAL REVENUE DISCLOSURE

(In thousands)

(Unaudited)
                                                                                                                                   
                       Three Months Ended                                         Year Ended
                                                       Absolute     Organic                                           Absolute     Organic
                       November 30,                                               November 30,
                       2012          2011            % change     %             2012            2011              % change     %
                                                                    change                                                         change
Revenue by
segment:
Americas revenue       $ 242,733       $ 218,484       11   %       2   %         $ 912,490         $ 798,673         14   %       3   %
EMEA revenue           121,947         108,995         12   %       6   %         443,385           384,441           15   %       7   %
APAC revenue           49,678         43,177         15   %       9   %         173,994          142,524          22   %       9   %
Total revenue          $ 414,358      $ 370,656      12   %       4   %         $ 1,529,869      $ 1,325,638      15   %       5   %
                                                                                                                                   
Revenue by
transaction
type:
Subscription           $ 302,187       $ 272,893       11   %       7   %         $ 1,157,347       $ 1,020,800       13   %       8   %
revenue
Non-subscription       112,171        97,763         15   %       (4  )%        372,522          304,838          22   %       (4  )%
revenue
Total revenue          $ 414,358      $ 370,656      12   %       4   %         $ 1,529,869      $ 1,325,638      15   %       5   %
                                                                                                                                   
Revenue by
information
domain:
Energy revenue         $ 191,103       $ 168,079                                  $ 712,061         $ 571,782
Product
Lifecycle (PLC)        137,274         115,409                                    501,569           436,533
revenue
Security revenue       33,328          30,819                                     120,852           119,389
Environment            31,873          30,156                                     103,751           98,934
revenue
Macroeconomic
Forecasting and        20,780         26,193                                    91,636           99,000      
Intersection
revenue
Total revenue          $ 414,358      $ 370,656                                 $ 1,529,869      $ 1,325,638 
                                                                                                                                   
                                                                                                                                   

                                                         
IHS INC.

RECONCILIATION OF CONSOLIDATED NON-GAAP FINANCIAL MEASUREMENTS TO

MOST DIRECTLY COMPARABLE GAAP FINANCIAL MEASUREMENTS

(In thousands, except for per-share amounts)

(Unaudited)
                                                                  
                          Three Months Ended                      Year Ended

                          November 30,                            November 30,
                          2012           2011                  2012           2011
Net income                $ 46,420          $ 22,728              $ 158,168         $ 135,415
Interest income           (325      )       (208      )           (999      )       (862      )
Interest expense          5,736             4,572                 20,573            11,346
Income tax                3,656             (1,256    )           29,564            26,695
(benefit) provision
Depreciation and          31,560           25,628               118,243          88,039    
amortization
EBITDA                    $ 87,047          $ 51,464              $ 325,549         $ 260,633
Stock-based
compensation              30,611            22,381                121,543           86,194
expense
Restructuring             4,749             540                   16,829            1,242
charges
Acquisition-related       675               1,911                 4,147             8,000
costs
Non-cash net
periodic pension          16,922            42,538                16,922            44,648
and postretirement
expense
(Income) loss from
discontinued              (11       )       328                  (19       )       (126      )
operations, net
Adjusted EBITDA           $ 139,993        $ 119,162            $ 484,971        $ 400,591 
                                                                                    
                                                                                    
                          Three Months Ended                      Year Ended

                          November 30,                            November 30,
                          2012              2011                  2012              2011
Earnings per              $ 0.69            $ 0.34                $ 2.37            $ 2.06
diluted share
Stock-based
compensation              0.29              0.22                  1.18              0.85
expense
Restructuring             0.05              0.01                  0.17              0.01
charges
Acquisition-related       0.01              0.02                  0.05              0.10
costs
Non-cash net
periodic pension          0.17              0.40                  0.17              0.42
and postretirement
expense
(Income) loss from
discontinued              —                —                    —                —         
operations, net
Adjusted earnings         $ 1.21           $ 0.99               $ 3.94           $ 3.44    
per diluted share
Note: Amounts may not sum due to rounding
                                                                                    
                                                                                    
                          Three Months Ended                      Year Ended

                          November 30,                            November 30,
                          2012              2011                  2012             2011
Net cash provided
by operating              $ 68,117          $ 88,808              $ 314,373         $ 342,050
activities
Capital
expenditures on           (15,033   )       (8,967    )           (64,732   )       (54,340   )
property and
equipment
Free cash flow            $ 53,084          $ 79,841              $ 249,641         $ 287,710
Pension deficit           —                —                    57,000           —         
funding
Adjusted free cash        $ 53,084         $ 79,841             $ 306,641        $ 287,710 
flow
                                                                                              
                                                                                              

                      
IHS INC.

RECONCILIATION OF SEGMENT NON-GAAP FINANCIAL MEASUREMENTS TO

MOST DIRECTLY COMPARABLE GAAP FINANCIAL MEASUREMENTS

(In thousands)

(Unaudited)
                          
                          Three Months Ended November 30, 2012
                          Americas      EMEA          APAC         Shared         Total
                                                                         Services
Operating income          $ 72,882        $ 25,591        $ 16,553       $ (59,550  )     $ 55,476
Adjustments:
Stock-based
compensation              —               —               —              30,611           30,611
expense
Depreciation and          23,417          6,019           354            1,770            31,560
amortization
Restructuring             3,533           1,092           124            —                4,749
charges
Acquisition-related       675             —               —              —                675
costs
Non-cash net
periodic pension          —              5,762          —             11,160          16,922
and postretirement
expense
Adjusted EBITDA           $ 100,507      $ 38,464       $ 17,031      $ (16,009  )     $ 139,993
                                                                                          
                                                                                          
                          Three Months Ended November 30, 2011
                          Americas        EMEA            APAC           Shared           Total
                                                                         Services
Operating income          $ 63,240        $ 27,210        $ 15,415       $ (79,701  )     $ 26,164
Adjustments:
Stock-based
compensation              —               —               —              22,381           22,381
expense
Depreciation and          20,775          4,307           38             508              25,628
amortization
Restructuring             —               540             —              —                540
charges
Acquisition-related       1,911           —               —              —                1,911
costs
Non-cash net
periodic pension          —              —              —             42,538          42,538
and postretirement
expense
Adjusted EBITDA           $ 85,926       $ 32,057       $ 15,453      $ (14,274  )     $ 119,162
                                                                                          
                                                                                          
                          Year Ended November 30, 2012
                          Americas        EMEA            APAC           Shared           Total
                                                                         Services
Operating income          $ 262,953       $ 95,144        $ 46,042       $ (196,852 )     $ 207,287
Adjustments:
Stock-based
compensation              —               —               —              121,543          121,543
expense
Depreciation and          88,456          22,188          1,065          6,534            118,243
amortization
Restructuring             13,430          3,033           366            —                16,829
charges
Acquisition-related       3,929           218             —              —                4,147
costs
Non-cash net
periodic pension          —              5,762          —             11,160          16,922
and postretirement
expense
Adjusted EBITDA           $ 368,768      $ 126,345      $ 47,473      $ (57,615  )     $ 484,971
                                                                                          
                                                                                          
                          Year Ended November 30, 2011
                          Americas        EMEA            APAC           Shared           Total
                                                                         Services
Operating income          $ 224,699       $ 82,314        $ 44,452       $ (178,997 )     $ 172,468
Adjustments:
Stock-based
compensation              —               —               —              86,194           86,194
expense
Depreciation and          68,285          17,369          172            2,213            88,039
amortization
Restructuring             338             904             —              —                1,242
charges
Acquisition-related       7,598           402             —              —                8,000
costs
Non-cash net
periodic pension          —              —              —             44,648          44,648
and postretirement
expense
Adjusted EBITDA           $ 300,920      $ 100,989      $ 44,624      $ (45,942  )     $ 400,591
                                                                                            
                                                                                            

                                                        
IHS INC.

SUPPLEMENTAL INFORMATION

(In thousands)

(Unaudited)
                                                                 
                          Three Months Ended                     Three Months Ended

                          November 30, 2012                      November 30, 2011
                          Pre-tax        After tax            Pre-tax       After tax
Stock-based
compensation              $ 30,611          $ 19,803             $ 22,381         $ 14,323
expense
Restructuring             $ 4,749           $ 3,209              $ 540            $ 392
charges
Acquisition-related       $ 675             $ 544                $ 1,911          $ 1,549
costs
Non-cash net
periodic pension          $ 16,922          $ 11,336             $ 42,538         $ 26,373
and postretirement
expense
(Income) loss from
discontinued              $ (18     )       $ (11    )           $ 400            $ 328
operations, net
                                                                                  
                                                                                  
                          Year Ended                             Year Ended

                          November 30, 2012                      November 30, 2011
                          Pre-tax          After tax           Pre-tax         After tax
Stock-based
compensation              $ 121,543         $ 78,584             $ 86,194         $ 55,692
expense
Restructuring             $ 16,829          $ 11,410             $ 1,242          $ 844
charges
Acquisition-related       $ 4,147           $ 3,346              $ 8,000          $ 6,566
costs
Non-cash net
periodic pension          $ 16,922          $ 11,336             $ 44,648         $ 27,681
and postretirement
expense
(Income) loss from
discontinued              $ (36     )       $ (19    )           $ (347   )       $ (126   )
operations, net

Contact:

IHS Inc.
News Media Contact:
David E. Pendery, +1-303-397-2468
david.pendery@ihs.com
or
Investor Relations Contact:
Andy Schulz, +1-303-397-2969
andy.schulz@ihs.com
 
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