For the Three and Twelve Months Ended December 31, 2019 and 2018
| Three Months Ended December 31, | Twelve Months Ended December 31, | ||||||||||||||
| 2019 | 2018 | 2019 | 2018 | ||||||||||||
| (in millions, except for share and per share data) | |||||||||||||||
| Revenues | $ | 676.8 | $ | 613.9 | $ | 2,607.1 | $ | 2,395.1 | |||||||
| Operating expenses: | |||||||||||||||
| Cost of revenues (exclusive of items shown separately below) | 259.8 | 224.0 | 976.8 | 886.2 | |||||||||||
| Selling, general and administrative | 124.8 | 97.7 | 603.5 | 378.7 | |||||||||||
| Depreciation and amortization of fixed assets | 47.7 | 43.7 | 185.7 | 165.3 | |||||||||||
| Amortization of intangible assets | 37.9 | 32.3 | 138.0 | 130.8 | |||||||||||
| Other operating expenses | — | — | 6.2 | — | |||||||||||
| Total operating expenses | 470.2 | 397.7 | 1,910.2 | 1,561.0 | |||||||||||
| Operating income | 206.6 | 216.2 | 696.9 | 834.1 | |||||||||||
| Other income (expense): | |||||||||||||||
| Investment (loss) income and others, net | (1.4 | ) | (4.0 | ) | (1.7 | ) | 15.3 | ||||||||
| Interest expense | (33.1 | ) | (32.7 | ) | (126.8 | ) | (129.7 | ) | |||||||
| Total other expense, net | (34.5 | ) | (36.7 | ) | (128.5 | ) | (114.4 | ) | |||||||
| Income before income taxes | 172.1 | 179.5 | 568.4 | 719.7 | |||||||||||
| Provision for income taxes | (39.9 | ) | (33.3 | ) | (118.5 | ) | (121.0 | ) | |||||||
| Net income | $ | 132.2 | $ | 146.2 | $ | 449.9 | $ | 598.7 | |||||||
| Basic net income per share | $ | 0.81 | $ | 0.89 | $ | 2.75 | $ | 3.63 | |||||||
| Diluted net income per share | $ | 0.80 | $ | 0.87 | $ | 2.70 | $ | 3.56 | |||||||
| Weighted-average shares outstanding: | |||||||||||||||
| Basic | 163,289,013 | 164,344,502 | 163,535,438 | 164,808,110 | |||||||||||
| Diluted | 166,218,621 | 167,346,841 | 166,560,115 | 168,297,836 | |||||||||||
VERISK ANALYTICS, INC.
