Investments in Affiliated Companies

Investments in affiliated companies represent our investment in non-consolidated domestic and foreign entities. These entities are in businesses similar to ours, such as credit reporting, credit scoring and credit monitoring services. These investments are included in other assets in the consolidated balance sheets.

We use the equity method to account for investments in affiliates where we have at least a 20% ownership interest or where we are able to exercise significant influence. For these investments, we adjust the carrying value for our proportionate share of the affiliates’ earnings, losses and distributions, as well as for purchases and sales of our ownership interest.

We use the cost method to account for all other nonmarketable investments. For these investments, we adjust the carrying value for purchases and sales of our ownership interests.

For all investments, we adjust the carrying value if we determine that an other-than-temporary impairment in value has occurred. During the six months ended June 30, 2014, we incurred an other-than-temporary impairment of $4.5 million for a cost method investment in our USIS segment that has sold its assets and is in the process of liquidating. This loss was included in other income and expense in the consolidated statements of income. We had no impairments of investments in affiliated companies in the six months ended June 30, 2013.

Investments in affiliated companies consisted of the following:



(in millions)	June 30, 2014		December 31, 2013
Total equity method investments	$	53.7	$	84.5
Total cost method investments	3.4		7.9
Total investments in affiliated companies	$	57.1	$	92.4

During the first quarter of 2014, we increased our equity interest in CIBIL from 27.5% to 47.5% and entered into agreements to acquire an additional 7.5% equity stake. On May 21, 2014, we acquired the additional 7.5% equity interest, obtained control and began to consolidate CIBIL as part of our International segment. From May 21, 2014, forward, CIBIL is no longer an equity method investment.

The accounting guidance for acquisitions achieved in stages (ASC 805-10-25-10) requires us to remeasure our previously held equity interest in CIBIL to the fair value as of the date we obtained control. As a result, we recognized a gain of $21.7 million in other income and expense for the three and six months ended June 30, 2014.

Earnings from equity method investments, which are included in other income and expense, and dividends received from equity method investments consisted of the following:



(in millions)	Six Months Ended June 30, 2014		Six Months Ended June 30, 2013
Earnings from equity method investments	$	6.7	$	7.3
Dividends received from equity method investments	$	7.2	$	7.4

Dividends received from cost method investments were $0.5 million for the six months ended June 30, 2014 and 2013. These dividends have been included in other income and expense.

Our investment in TransUnion de Mexico, S.A. is considered a significant unconsolidated subsidiary. The summarized financial information for this significant unconsolidated subsidiary consisted of the following:



(in millions)	Six Months Ended June 30, 2014		Six Months Ended June 30, 2013
Revenue	$	32.7	$	35.2
Operating Income	$	15.2	$	18.7
Net income	$	12.3	$	15.9