International revenue increased by 13%, driven by revenue growth in Latin America primarily from the Boa Vista Serviços S.A. ("BVS") acquisition. On a local currency basis, revenue increased by 20% in the first quarter of 2024.

U.S. Information Solutions (USIS) revenue increased by 10% due to growth in mortgage-related online services, as well as growth in consumer solutions revenue and Mortgage Solutions. Growth in mortgage related online revenue and Mortgage Solutions was due to both annual pricing actions and increased mortgage prequalification credit inquiry revenue.

Workforce Solutions revenue increased by 1%, with growth in non-mortgage verticals within Verification Services offset by declines in mortgage revenue and declines in Employer Services due to lower tax credit revenue. ERC revenue decrease is driven by the wind down of the program, accelerated by the IRS pausing new claims processing.

Capital expenditures paid in the first three months of 2024 decreased by $26.4 million from the same period in 2023 due to lower capitalized software costs and lower spending on technology infrastructure as compared to the first quarter of 2023 as we continue to make progress toward completion of our technology transformation.

General corporate expense increased only slightly, by $0.3 million, indicating a focus on cost management. The increase is primarily due to higher people costs and litigation expense, partially offset by lower third party cloud usage fees and software costs, as well as lower amortization of capitalized internal-use software and system costs.

The company paid out $48.2 million in dividends. At March 31, 2024, $520.2 million was available for future purchases of common stock under our share repurchase authorization, although no shares were repurchased during the quarter.

The filing explicitly states that there have been no material changes with respect to the risk factors disclosed in the company's 2023 Form 10-K. This suggests a stable risk environment, but requires reviewing the 10-K for details.

The company continues to face Canadian class actions related to the 2017 cybersecurity incident. The outcome of these legal proceedings is uncertain and could result in significant financial liabilities.

The company is cooperating with multiple investigations by the CFPB related to consumer disputes processes and data accuracy, including a previously disclosed coding issue. The outcome of these investigations is uncertain and could result in regulatory actions or penalties.

The company demonstrates a strong competitive position in the USIS segment, with revenue growth driven by mortgage-related online services and consumer solutions. International growth, particularly in Latin America, further supports a strong global presence.

The filing mentions declines in specific areas, such as Asia Pacific, indicating competitive pressures or market-specific challenges. This highlights the need to monitor competitive dynamics and adapt strategies accordingly.

Equifax is expanding its product offerings and market reach, as evidenced by the BVS acquisition and growth in non-mortgage verticals within Workforce Solutions. This diversification helps mitigate risks associated with specific market segments and enhances long-term competitive positioning.

The increase in total company operating margin suggests improvements in operational efficiency. This is further supported by the decrease in capital expenditures as the technology transformation progresses.

While revenue increased, the cost of services also increased significantly, partially offsetting the revenue gains. This suggests a need to further optimize cost structures and improve operational efficiency.

The slight increase in general corporate expense, despite growth initiatives, indicates effective cost control measures. Lower third-party cloud usage fees and software costs contribute to this efficiency.

The decrease in capital expenditures, particularly in capitalized software costs and technology infrastructure, reflects the progress of the company's technology transformation. This suggests a shift from investment to leveraging existing technological capabilities.

The filing notes increased amortization of capitalized internal-use software and system costs from technology transformation capital spending incurred previously. This indicates a lag effect of previous investments now impacting the income statement.

The filing mentions higher third-party cloud usage fees and software costs as contributing to increased cost of services. This highlights the ongoing reliance on cloud infrastructure and the need to optimize cloud spending.

The company maintained its quarterly dividend of $0.39 per share, demonstrating a commitment to returning capital to shareholders. However, no share repurchases were made during the quarter.

The acquisition of BVS in Brazil drives international revenue growth, indicating a strategic focus on expanding into new markets through acquisitions. This strategy requires careful integration and management of acquired assets.

The decrease in capital expenditures suggests a shift in capital allocation priorities, with less emphasis on new technology investments and more focus on leveraging existing infrastructure and capabilities.

The filing does not explicitly highlight any new ESG initiatives or developments. This suggests that ESG efforts are either not material to the quarterly results or are being addressed through existing programs and disclosures.

The ongoing legal proceedings and CFPB investigations related to data security and consumer disputes highlight the importance of robust data governance and security practices. Failure to maintain adequate safeguards could result in reputational damage and financial penalties.

The reliance on third-party cloud providers and outsourcing partners introduces supply chain risks related to data security and operational resilience. Effective vendor management and security protocols are crucial to mitigate these risks.

The filing acknowledges that demand for the company's services is correlated to general levels of economic activity, consumer credit, and small business commercial credit decisioning. Economic slowdowns could negatively impact revenue growth.

Changes in the U.S. mortgage market have a corresponding impact on revenue and operating profit for the business. A decline in the mortgage market, as anticipated in the filing, could negatively affect future performance.

The filing notes that foreign exchange rates negatively impacted revenue by $20.2 million, or 2%. This highlights the exposure to currency risk and the importance of managing currency fluctuations.