10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

___________________________________

Form 10-Q

___________________________________

(Mark One)

ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2012

OR

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from                      to                     

Commission file number 1-15967

___________________________________

The Dun & Bradstreet Corporation

(Exact name of registrant as specified in its charter)

___________________________________

Delaware	22-3725387
(State of incorporation)	(I.R.S. Employer Identification No.)
103 JFK Parkway, Short Hills, NJ	07078
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (973) 921-5500

___________________________________

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  ý    No  ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  ý    No  ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one:)

Large accelerated filer ý Accelerated filer o Non-accelerated filer o Smaller reporting company o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  ¨    No  ý

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date:

Title of Class	Shares Outstanding at September 30, 2012
Common Stock,	44,565,337
par value $0.01 per share

THE DUN & BRADSTREET CORPORATION

INDEX TO FORM 10-Q

		Page
	PART I. FINANCIAL INFORMATION
Item 1.	Financial Statements	3
	Consolidated Statements of Operations and Comprehensive Income for the Three Month and Nine Month Periods Ended September 30, 2012 and 2011 (Unaudited)	3
	Consolidated Balance Sheets as of September 30, 2012 and December 31, 2011 (Unaudited)	4
	Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2012 and 2011 (Unaudited)	5
	Consolidated Statements of Shareholders’ Equity (Deficit) for the Nine Months Ended September 30, 2012 and 2011 (Unaudited)	6
	Notes to Consolidated Financial Statements (Unaudited)	7
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	30
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	64
Item 4.	Controls and Procedures	64
	PART II. OTHER INFORMATION
Item 1.	Legal Proceedings	66
Item 1a.	Risk Factors	66
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	67
Item 6.	Exhibits	68
	Signatures	69

2

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

The Dun & Bradstreet Corporation Consolidated Statements of Operations and Comprehensive Income (Unaudited)
	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2012			2011			2012			2011
	(Amounts in millions, except per share data)
Revenue	$	413.2		$	439.4		$	1,199.9		$	1,259.8
Operating Expenses	124.2			150.2			395.2			431.1
Selling and Administrative Expenses	154.5			162.6			448.2			470.4
Depreciation and Amortization	20.0			20.6			59.9			60.6
Restructuring Charge	4.8			5.3			23.2			18.0
Operating Costs	303.5			338.7			926.5			980.1
Operating Income	109.7			100.7			273.4			279.7
Interest Income	0.2			0.4			0.5			1.3
Interest Expense	(9.5		)	(9.1		)	(27.8		)	(27.4		)
Other Income (Expense) - Net	(15.4		)	(8.9		)	(8.8		)	(20.5		)
Non-Operating Income (Expense) - Net	(24.7		)	(17.6		)	(36.1		)	(46.6		)
Income Before Provision for Income Taxes and Equity in Net Income of Affiliates	85.0			83.1			237.3			233.1
Less: Provision for Income Taxes	4.8			24.7			37.3			68.4
Equity in Net Income of Affiliates	0.5			0.4			1.3			1.1
Net Income	80.7			58.8			201.3			165.8
Less: Net (Income) Loss Attributable to the Noncontrolling Interest	(1.1		)	(0.4		)	(1.8		)	1.0
Net Income Attributable to D&B	$	79.6		$	58.4		$	199.5		$	166.8
Basic Earnings Per Share of Common Stock Attributable to D&B Common Shareholders	$	1.77		$	1.19		$	4.29		$	3.38
Diluted Earnings Per Share of Common Stock Attributable to D&B Common Shareholders	$	1.76		$	1.19		$	4.26		$	3.36
Weighted Average Number of Shares Outstanding-Basic	44.8			48.9			46.4			49.2
Weighted Average Number of Shares Outstanding-Diluted	45.2			49.1			46.8			49.6
Cash Dividend Paid Per Common Share	$	0.38		$	0.36		$	1.14		$	1.08
Other Comprehensive Income, Net of Tax
Net Income (from above)	$	80.7		$	58.8		$	201.3		$	165.8
Foreign Currency Translation Adjustments, no Tax Impact	20.9			4.6			13.2			34.8
Defined Benefit Pension Plans:
Prior Service Costs, Net of Tax Income (1)	(1.8		)	(0.8		)	(5.3		)	(5.1		)
Net Loss, Net of Tax Income (Expense) (2)	1.0			3.3			13.1			15.7
Derivative Financial Instruments, No Tax Impact	0.4			0.9			1.2			2.3
Comprehensive Income, Net of Tax	101.2			66.8			223.5			213.5
Less: Comprehensive Income (Loss) Attributable to the Noncontrolling Interest	(1.1		)	(0.6		)	(1.7		)	0.7
Comprehensive Income Attributable to D&B	$	100.1		$	66.2		$	221.8		$	214.2

(1) Net of Tax Income of $0.5 million and $1.6 million during the three months ended September 30, 2012 and 2011, respectively. Net of Tax Income of $1.8 million and $2.0 million during the nine months ended September 30, 2012 and 2011, respectively.

(2) Net of Tax Income (Expense) of $0.1 million and ($5.0) million during the three months ended September 30, 2012 and 2011, respectively. Net of Tax Expense of ($4.4) million and ($6.1) million during the nine months ended September 30, 2012 and 2011, respectively.

The accompanying notes are an integral part of the unaudited consolidated financial statements.

3

The Dun & Bradstreet Corporation Consolidated Balance Sheets (Unaudited)
	September 30, 2012			December 31, 2011
	(Amounts in millions, except per share data)
ASSETS
Current Assets
Cash and Cash Equivalents	$	137.0		$	84.4
Accounts Receivable, Net of Allowance of $25.3 at September 30, 2012 and $17.1 at December 31, 2011	390.3			507.5
Other Receivables	5.2			5.7
Prepaid Taxes	1.6			1.5
Deferred Income Tax	26.4			32.1
Other Prepaids	33.5			55.1
Assets Held for Sale	—			32.7
Other Current Assets	4.2			7.9
Total Current Assets	598.2			726.9
Non-Current Assets
Property, Plant and Equipment, Net of Accumulated Depreciation of $81.6 at September 30, 2012 and $83.1 at December 31, 2011	37.9			45.7
Computer Software, Net of Accumulated Amortization of $446.2 at September 30, 2012 and $409.9 at December 31, 2011	134.9			127.6
Goodwill	607.8			598.4
Deferred Income Tax	243.6			243.1
Other Receivables	47.7			58.4
Other Intangibles	102.4			116.1
Other Non-Current Assets	49.1			60.9
Total Non-Current Assets	1,223.4			1,250.2
Total Assets	$	1,821.6		$	1,977.1
LIABILITIES
Current Liabilities
Accounts Payable	$	40.4		$	36.4
Accrued Payroll	82.0			117.4
Accrued Income Tax	15.8			17.7
Liabilities Held for Sale	—			29.1
Short-Term Debt	400.2			1.1
Other Accrued and Current Liabilities	132.2			153.6
Deferred Revenue	543.4			598.2
Total Current Liabilities	1,214.0			953.5
Pension and Postretirement Benefits	578.4			604.0
Long-Term Debt	623.9			963.9
Liabilities for Unrecognized Tax Benefits	105.2			129.5
Other Non-Current Liabilities	65.8			66.4
Total Liabilities	2,587.3			2,717.3
Contingencies (Note 7)
EQUITY
D&B SHAREHOLDERS’ EQUITY (DEFICIT)
Series A Junior Participating Preferred Stock, $0.01 par value per share, authorized - 0.5 shares; outstanding - none	—			—
Preferred Stock, $0.01 par value per share, authorized - 9.5 shares; outstanding - none	—			—
Series Common Stock, $0.01 par value per share, authorized - 10.0 shares; outstanding - none	—			—
Common Stock, $0.01 par value per share, authorized - 200.0 shares; issued - 81.9 shares	0.8			0.8
Capital Surplus	262.5			239.0
Retained Earnings	2,325.7			2,179.3
Treasury Stock, at cost, 37.4 shares at September 30, 2012 and 34.2 shares at December 31, 2011	(2,574.2		)	(2,356.3		)
Accumulated Other Comprehensive Income (Loss)	(784.4		)	(806.7		)
Total D&B Shareholders’ Equity (Deficit)	(769.6		)	(743.9		)
Noncontrolling Interest	3.9			3.7
Total Equity (Deficit)	(765.7		)	(740.2		)
Total Liabilities and Shareholders’ Equity (Deficit)	$	1,821.6		$	1,977.1

The accompanying notes are an integral part of the unaudited consolidated financial statements.

4

The Dun & Bradstreet Corporation Consolidated Statements of Cash Flows (Unaudited)
	Nine Months Ended
	September 30,
	2012			2011
	(Amounts in millions)
Cash Flows from Operating Activities:
Net Income	$	201.3		$	165.8
Reconciliation of Net Income to Net Cash Provided by Operating Activities:
Depreciation and Amortization	59.9			60.6
Amortization of Unrecognized Pension Loss	17.7			11.2
(Gain) Loss from Sales of Business / Investments	(6.0		)	11.7
Impairment of Assets	16.1			—
Income Tax Benefit from Stock-Based Awards	4.9			11.4
Excess Tax Benefit on Stock-Based Awards	(1.1		)	(5.4		)
Equity Based Compensation	8.8			9.2
Restructuring Charge	23.2			18.0
Restructuring Payments	(23.7		)	(15.2		)
Deferred Income Taxes, Net	(25.4		)	(3.4		)
Accrued Income Taxes, Net	(14.6		)	(7.8		)
Changes in Current Assets and Liabilities:
Decrease in Accounts Receivable	109.2			117.0
Decrease in Other Current Assets	24.2			3.4
(Decrease) in Deferred Revenue	(56.9		)	(67.8		)
Increase (Decrease) in Accounts Payable	3.6			(3.9		)
(Decrease) in Accrued Liabilities	(41.9		)	(8.8		)
Increase in Other Accrued and Current Liabilities	8.2			5.9
Changes in Non-Current Assets and Liabilities:
Decrease in Other Long-Term Assets	25.1			26.5
Net (Decrease) in Long-Term Liabilities	(25.5		)	(58.3		)
Net, Other Non-Cash Adjustments	—			1.1
Net Cash Provided by Operating Activities	307.1			271.2
Cash Flows from Investing Activities:
Proceeds from Sales of Businesses, Net of Cash Divested	7.9			0.3
Payments for Acquisitions of Businesses, Net of Cash Acquired	—			(1.7		)
Investment in Debt Security	—			(1.0		)
Cash Settlements of Foreign Currency Contracts	8.8			3.9
Capital Expenditures	(2.1		)	(3.0		)
Additions to Computer Software and Other Intangibles	(49.8		)	(29.7		)
Reimbursement of Proceeds Related to a Divested Business	—			(7.4		)
Net, Other	0.1			0.2
Net Cash Used in Investing Activities	(35.1		)	(38.4		)
Cash Flows from Financing Activities:
Payments for Purchases of Treasury Shares	(240.0		)	(121.6		)
Net Proceeds from Stock-Based Awards	14.9			26.9
Payment of Bond Issuance Costs	—			(0.3		)
Payments of Dividends	(52.8		)	(53.2		)
Proceeds from Borrowings on Credit Facilities	515.0			132.2
Payments of Borrowings on Credit Facilities	(454.3		)	(216.4		)
Excess Tax Benefit on Stock-Based Awards	1.1			5.4
Capital Lease and Other Long-Term Financing Obligation Payment	(2.2		)	(4.0		)
Net, Other	(1.4		)	(0.2		)
Net Cash Used in Financing Activities	(219.7		)	(231.2		)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	0.3			9.4
Increase in Cash and Cash Equivalents	52.6			11.0
Cash and Cash Equivalents, Beginning of Period	84.4			78.5
Cash and Cash Equivalents, End of Period	$	137.0		$	89.5
Supplemental Disclosure of Cash Flow Information:
Cash Paid for:
Income Taxes, Net of Refunds	$	72.3		$	68.2
Interest	$	13.3		$	17.3

The accompanying notes are an integral part of the unaudited consolidated financial statements.

5

The Dun & Bradstreet Corporation Consolidated Statements of Shareholders’ Equity (Deficit) (Unaudited)
					For the Nine Months Ended September 30, 2012 and 2011
											(Amounts in millions)
	Common Stock ($0.01 Par Value)		Capital Surplus		Retained Earnings			Treasury Stock			Cumulative Translation Adjustment			Minimum Pension Liability Adjustment			Derivative Financial Instrument			Total D&B Shareholders’ Equity (Deficit)			Noncontrolling Interest			Total Equity (Deficit)
Balance, December 31, 2010	$	0.8	$	227.3	$	1,989.5		$	(2,214.1	)	$	(162.1	)	$	(516.0	)	$	(3.0	)	$	(677.6	)	$	8.8		$	(668.8	)
Net Income	—		—		166.8			—			—			—			—			166.8			(1.0		)	165.8
Payment to Noncontrolling Interest	—		—		—			—			—			—			—			—			(0.6		)	(0.6		)
Sale of Noncontrolling Interest	—		—		—			—			—			—			—			—			1.7			1.7
Equity-Based Plans	—		4.1		—			38.8			—			—			—			42.9			—			42.9
Treasury Shares Acquired	—		—		—			(121.6		)	—			—			—			(121.6		)	—			(121.6		)
Pension Adjustments, net of tax of $4.1	—		—		—			—			—			10.6			—			10.6			—			10.6
Dividend Declared	—		—		(53.2		)	—			—			—			—			(53.2		)	—			(53.2		)
Adjustments to Legacy Tax Matters	—		4.9		—			—			—			—			—			4.9			—			4.9
Change in Cumulative Translation Adjustment	—		—		—			—			34.6			—			—			34.6			0.2			34.8
Derivative Financial Instruments, no tax impact	—		—		—			—			—			—			2.3			2.3			—			2.3
Balance, September 30, 2011	$	0.8	$	236.3	$	2,103.1		$	(2,296.9	)	$	(127.5	)	$	(505.4	)	$	(0.7	)	$	(590.3	)	$	9.1		$	(581.2	)
Balance, December 31, 2011	$	0.8	$	239.0	$	2,179.3		$	(2,356.3	)	$	(168.3	)	$	(638.4	)	$	—		$	(743.9	)	$	3.7		$	(740.2	)
Net Income	—		—		199.5			—			—			—			—			199.5			1.8			201.3
Payment to Noncontrolling Interest	—		—		—			—			—			—			—			—			(1.1		)	(1.1		)
Sale of Noncontrolling Interest	—		—		—			—			—			—			—			—			(0.4		)	(0.4		)
Equity-Based Plans	—		21.9		—			22.1			—			—			—			44.0			—			44.0
Treasury Shares Acquired	—		—		—			(240.0		)	—			—			—			(240.0		)	—			(240.0		)
Pension Adjustments, net of tax of $2.6	—		—		—			—			—			7.8			—			7.8			—			7.8
Dividend Declared	—		—		(53.1		)	—			—			—			—			(53.1		)	—			(53.1		)
Adjustments to Legacy Tax Matters	—		1.6		—			—			—			—			—			1.6			—			1.6
Change in Cumulative Translation Adjustment	—		—		—			—			13.3			—			—			13.3			(0.1		)	13.2
Derivative Financial Instruments, no tax impact	—		—		—			—			—			—			1.2			1.2			—			1.2
Balance, September 30, 2012	$	0.8	$	262.5	$	2,325.7		$	(2,574.2	)	$	(155.0	)	$	(630.6	)	$	1.2		$	(769.6	)	$	3.9		$	(765.7	)

The accompanying notes are an integral part of the unaudited consolidated financial statements.

6

THE DUN & BRADSTREET CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

(Tabular dollar amounts in millions, except per share data)

Note 1 -- Basis of Presentation

These interim unaudited consolidated financial statements have been prepared in accordance with the instructions to the Quarterly Report on Form 10-Q. They should be read in conjunction with the consolidated financial statements and related notes, which appear in The Dun & Bradstreet Corporation’s (“D&B,” the "Company," “we” or “our”) Annual Report on Form 10-K for the year ended December 31, 2011. The unaudited consolidated results for interim periods do not include all disclosures required by accounting principles generally accepted in the United States of America (“GAAP”) for annual financial statements and are not necessarily indicative of results for the full year or any subsequent period. In the opinion of our management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair statement of the unaudited consolidated financial position, results of operations and cash flows at the dates and for the periods presented have been included.

All inter-company transactions have been eliminated in consolidation.

Simultaneously with the sale of the domestic portion of our Japanese operations to Tokyo Shoko Research Ltd. (“TSR”), we entered into a ten-year commercial arrangement to provide TSR with global data for its Japanese competitors and became the exclusive distributor of TSR data to the Worldwide Network. We continue to manage our business through three segments. However, as of January 1, 2012, our Asia Pacific Worldwide Network has been moved out of our Europe and Other International Markets segment and into our Asia Pacific segment.

On January 1, 2012, we began managing our business through the following three segments (all prior periods have been reclassified to reflect the new segment structure):

• North America (which consists of our operations in the United States (“U.S.”) and Canada);

• Asia Pacific (which primarily consists of our operations in Australia, China, India and Asia Pacific Worldwide Network); and

• Europe and Other International Markets (which primarily consists of our operations in the United Kingdom (“UK”), Netherlands, Belgium, Latin America and European Worldwide Network).

Prior to January 1, 2012, we managed and reported our business globally through the following three segments:

• North America (which consisted of our operations in the U.S. and Canada);

• Asia Pacific (which primarily consisted of our operations in Australia, Japan, China and India); and

• Europe and Other International Markets (which primarily consisted of our operations in the UK, Netherlands, Belgium, Latin America and the Worldwide Network).

The financial statements of the subsidiaries outside North America reflect results for the three month and nine month periods ended August 31 in order to facilitate the timely reporting of our unaudited consolidated financial results and unaudited consolidated financial position.

Where appropriate, we have reclassified certain prior year amounts to conform to the current year presentation due to the change in segment structure discussed above.

7

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-continued

(Tabular dollar amounts in millions, except per share data)

Note 2 -- Recent Accounting Pronouncements

In July 2012, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2012-02, “Intangibles – Goodwill and Other (Topic 350): Testing Indefinite-Lived Intangible Assets for Impairment.” The amendments in this ASU allow a company to qualitatively assess whether indefinite-lived intangible assets are more likely than not impaired. If the indefinite-lived intangible assets are considered impaired, a company is required to perform the quantitative test under ASC 350-30, “Intangibles – Goodwill and Other – General Intangibles Other than Goodwill.” The authoritative guidance does not amend the requirement to test indefinite-lived intangible assets annually for impairment. In addition, the authoritative guidance does not amend the requirement to test these assets for impairment between annual tests if there is a change in events or circumstances. The authoritative guidance is effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. Early adoption is permitted if a public entity’s financial statements for the most recent annual or interim period have not yet been issued. We do not expect that the adoption of this authoritative guidance will have a material impact on our consolidated financial statements.

In December 2011, the FASB issued ASU No. 2011-11, “Balance Sheet (Topic 210); Disclosures about Offsetting Assets and Liabilities.” The amendments in this ASU require a company to disclose information about offsetting and related arrangements to enable users of its financial statements to understand the effect of those arrangements on its financial position. An entity is required to apply the amendments for annual reporting periods beginning on or after January 1, 2013 and interim periods within those annual periods. A company should provide the disclosures required by those amendments retrospectively for all comparative periods presented. We do not expect that the adoption of this authoritative guidance will have a material impact on our consolidated financial statements.

Note 3-- Restructuring Charge

Financial Flexibility is an ongoing process by which we seek to reallocate our spending from low-growth or low-value activities to other activities that will create greater value for shareholders through enhanced revenue growth, improved profitability and/or quality improvements. With most initiatives, we have incurred restructuring charges (which generally consist of employee severance and termination costs, contract terminations, and/or costs to terminate lease obligations less assumed sublease income). These charges are incurred as a result of eliminating, consolidating, standardizing and/or automating our business functions.

Restructuring charges have been recorded in accordance with Accounting Standards Codification (“ASC”) 712-10, “Nonretirement Postemployment Benefits,” or “ASC 712-10” and/or ASC 420-10, “Exit or Disposal Cost Obligations,” or “ASC 420-10,” as appropriate.

We record severance costs provided under an ongoing benefit arrangement once they are both probable and estimable in accordance with the provisions of ASC 712-10.

We account for one-time termination benefits, contract terminations, and/or costs to terminate lease obligations less assumed sublease income in accordance with ASC 420-10, which addresses financial accounting and reporting for costs associated with restructuring activities. Under ASC 420-10, we establish a liability for cost associated with an exit or disposal activity, including severance and lease termination obligations, and other related costs, when the liability is incurred, rather than at the date that we commit to an exit plan. We reassess the expected cost to complete the exit or disposal activities at the end of each reporting period and adjust our remaining estimated liabilities, if necessary.

The determination of when we accrue for severance costs and which standard applies depends on whether the termination benefits are provided under an ongoing arrangement as described in ASC 712-10 or under a one-time benefit arrangement as defined by ASC 420-10. Inherent in the estimation of the costs related to the restructurings are assessments related to the most likely expected outcome of the significant actions to accomplish the exit activities. In determining the charges related to the restructurings, we had to make estimates related to the expenses associated with the restructurings. These estimates may vary significantly from actual costs depending, in part, upon factors that may be beyond our control. We will continue to review the status of our restructuring obligations on a quarterly basis and, if appropriate, record changes to these obligations in current operations based on management’s most current estimates.

8

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-continued

(Tabular dollar amounts in millions, except per share data)

Three months ended September 30, 2012 vs. Three months ended September 30, 2011

During the three months ended September 30, 2012, we recorded a $4.8 million restructuring charge. The significant components of these charges included:

• Severance and termination costs of $1.6 million in accordance with the provisions of ASC 712-10 were recorded. Approximately 50 employees were impacted. Of these 50 employees, approximately 35 employees exited the Company in the third quarter of 2012, with the remaining to exit in the fourth quarter of 2012. The cash payments for these employees will be substantially completed by the second quarter of 2013; and

• Lease termination obligations, other costs to consolidate or close facilities and other exit costs of $3.2 million.

During the three months ended September 30, 2011, we recorded a $5.3 million restructuring charge. The significant components of these charges included:

• Severance and termination costs of $4.6 million in accordance with the provisions of ASC 712-10 were recorded. Approximately 100 employees were impacted. Of these 100 employees, approximately 90 employees exited the Company in the third quarter of 2011, with the remaining having exited in the first quarter of 2012. The cash payments for these employees were substantially completed by the second quarter of 2012; and

• Lease termination obligations, other costs to consolidate or close facilities and other exit costs of $0.7 million.

Nine months ended September 30, 2012 vs. Nine months ended September 30, 2011

During the nine months ended September 30, 2012, we recorded a $23.2 million restructuring charge. The significant components of these charges included:

• Severance and termination costs of $12.8 million and $4.7 million in accordance with the provisions of ASC 712-10 and ASC 420-10, respectively, were recorded. Approximately 670 employees were impacted. Of these 670 employees, approximately 655 employees exited the Company by the conclusion of the third quarter of 2012, with the remaining to exit in the fourth quarter of 2012. The cash payments for these employees will be substantially completed by the second quarter of 2013; and

• Lease termination obligations, other costs to consolidate or close facilities and other exit costs of $5.7 million.

During the nine months ended September 30, 2011, we recorded an $18.0 million restructuring charge. The significant components of these charges included:

• Severance and termination costs of $14.2 million in accordance with the provisions of ASC 712-10 were recorded. Approximately 305 employees were impacted. Of these 305 employees, approximately 280 exited the Company by the conclusion of the third quarter of 2011, with the remaining having exited by the first quarter of 2012. The cash payments for these employees were substantially completed by the second quarter of 2012; and

• Lease termination obligations, other costs to consolidate or close facilities and other exit costs of $3.8 million.

9

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-continued

(Tabular dollar amounts in millions, except per share data)

The following tables set forth, in accordance with ASC 712-10 and/or ASC 420-10, the restructuring reserves and utilization related to our Financial Flexibility initiatives:

	Severance and Termination			Lease Termination Obligations and Other Exit Costs			Total
Restructuring Charges:
Balance Remaining as of December 31, 2011	$	8.3		$	2.2		$	10.5
Charge Taken during First Quarter 2012	6.7			2.4			9.1
Payments during First Quarter 2012	(4.0		)	(1.0		)	(5.0		)
Balance Remaining as of March 31, 2012	$	11.0		$	3.6		$	14.6
Charge Taken during Second Quarter 2012	9.2			0.1			9.3
Payments during Second Quarter 2012	(7.5		)	(0.8		)	(8.3		)
Balance Remaining as of June 30, 2012	$	12.7		$	2.9		$	15.6
Charge Taken during Third Quarter 2012	$	1.6		$	3.2		$	4.8
Payments during Third Quarter 2012	(6.7		)	(3.7		)	(10.4		)
Balance Remaining as of September 30, 2012	$	7.6		$	2.4		$	10.0

	Severance and Termination			Lease Termination Obligations and Other Exit Costs			Total
Restructuring Charges:
Balance Remaining as of December 31, 2010	$	8.9		$	0.5		$	9.4
Charge Taken during First Quarter 2011	4.2			—			4.2
Payments/Pension Plan Settlement (1) during First Quarter 2011	(5.1		)	—			(5.1		)
Balance Remaining as of March 31, 2011	$	8.0		$	0.5		$	8.5
Charge Taken during Second Quarter 2011	5.4			3.1			8.5
Payments during Second Quarter 2011	(3.9		)	(0.3		)	(4.2		)
Balance Remaining as of June 30, 2011	$	9.5		$	3.3		$	12.8
Charge Taken during Third Quarter 2011	$	4.6		$	0.7		$	5.3
Payments during Third Quarter 2011	(5.5		)	(1.4		)	(6.9		)
Balance Remaining as of September 30, 2011	$	8.6		$	2.6		$	11.2

(1) We incurred a settlement of $1.0 million in the first quarter of 2011 related to our Canadian Pension Plan.

10

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-continued

(Tabular dollar amounts in millions, except per share data)

Note 4 -- Notes Payable and Indebtedness

Our borrowings are summarized in the following table:

	September 30, 2012		December 31, 2011
Debt Maturing Within One Year:
Short-Term Fixed-Rate	$	400.0	$	—
Other	0.2		1.1
Total Debt Maturing Within One Year	$	400.2	$	1.1
Debt Maturing After One Year:
Long-Term Fixed-Rate Notes (Net of a $0.7 million and $0.8 million discount as of September 30, 2012 and December 31, 2011, respectively)	$	299.3	$	699.2
Fair Value Adjustment Related to Hedged Debt	4.2		4.4
Credit Facility	320.1		259.4
Other	0.3		0.9
Total Debt Maturing After One Year	$	623.9	$	963.9

Fixed-Rate Notes

In November 2010, we issued senior notes with a face value of $300 million that mature on November 15, 2015 (“the 2015 notes”), bearing interest at a fixed annual rate of 2.875%, payable semi-annually. The proceeds were used in December 2010 to repay our then outstanding $300 million senior notes, bearing interest at a fixed annual rate of 5.50%, which had a maturity date of March 15, 2011 (the “2011 notes”). In connection with the redemption of the 2011 notes, we recorded a premium payment of $3.7 million to “Other Income (Expense)—Net” in the consolidated statement of operations and comprehensive income during the year ended December 31, 2010. The 2015 notes of $299.3 million, net of $0.7 million remaining discount, are recorded as “Long-Term Debt” in our unaudited consolidated balance sheet at September 30, 2012.

The 2015 notes were issued at a discount of $1.1 million, and, in connection with the issuance, we incurred underwriting and other fees of approximately $2.5 million. These costs are being amortized over the life of the 2015 notes. The 2015 notes contain certain covenants that limit our ability to create liens, enter into sale and leaseback transactions and consolidate, merge or sell assets to another entity. The 2015 notes do not contain any financial covenants.

In November and December 2010, we entered into interest rate derivative transactions with aggregate notional amounts of $125 million. The objective of these hedges was to offset the change in fair value of the fixed rate 2015 notes attributable to changes in LIBOR. These transactions have been accounted for as fair value hedges. We have recognized the gain or loss on the derivative instruments, as well as the offsetting loss or gain on the hedged item, in “Other Income (Expense)—Net” in the consolidated statement of operations and comprehensive income.

In March 2012, in connection with our objective to manage exposure to interest rate changes and our policy to manage our fixed and floating-rate debt mix, these interest rate derivatives were terminated. This resulted in a gain of $0.3 million and the receipt of $5.0 million in cash on March 12, 2012, the swap termination settlement date. The gain of $0.3 million was recorded in “Other Income (Expense)—Net” in the consolidated statement of operations and comprehensive income during the nine months ended September 30, 2012. The $5.0 million cash received is reflected as an offset to interest paid in the unaudited consolidated statement of cash flows during the nine months ended September 30, 2012.

Approximately $0.8 million of derivative gains offset by a $0.5 million loss on the fair value adjustment related to the hedged debt were recorded through the date of termination in the results for the three months ended March 31, 2012. The $4.9 million adjustment in the carrying amount of the hedged debt at the date of termination will be amortized as an offset to “Interest Expense” in the consolidated statement of operations and comprehensive income over the remaining term of the 2015 notes. Approximately $0.7 million of amortization was recorded from the swap termination date through September 30, 2012, resulting in a balance of $4.2 million in our unaudited consolidated balance sheet at September 30, 2012.

11

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-continued

(Tabular dollar amounts in millions, except per share data)

In April 2008, we issued senior notes with a face value of $400 million that mature on April 1, 2013 (the “2013 notes”), bearing interest at a fixed annual rate of 6.00%, payable semi-annually. The interest rate applicable to the 2013 notes is subject to adjustment if our debt rating is decreased four levels below the Standard & Poor’s and Fitch A- credit ratings that we held on the date of issuance. After a rate adjustment, if our debt ratings are subsequently upgraded, the adjustment(s) would reverse. The maximum adjustment is 2.00% above the initial interest rate and the rate cannot adjust below 6.00%. As of September 30, 2012, no such adjustments to the interest rate have been made. Proceeds from this issuance were used to repay indebtedness under our revolving credit facility. During the second quarter of 2012, the 2013 notes had been reclassified from long-term debt to short-term debt because they will expire in less than one year. As such, the 2013 notes are recorded as “Short-Term Debt” in our unaudited consolidated balance sheet at September 30, 2012.

The 2013 notes were issued at face value and, in connection with the issuance, we incurred underwriting and other fees of $3.0 million. These costs are being amortized over the life of the 2013 notes. The 2013 notes contain certain covenants that limit our ability to create liens, enter into sale and leaseback transactions and consolidate, merge or sell assets to another entity. The 2013 notes do not contain any financial covenants.

On January 30, 2008, we entered into interest rate derivative transactions with an aggregate notional amount of $400 million. The objective of these hedges was to mitigate the variability of future cash flows from market changes in Treasury rates in anticipation of the issuance of the 2013 notes. These transactions were accounted for as cash flow hedges and, as such, changes in fair value of the hedges that took place through the date of the issuance of the 2013 notes were recorded in Accumulated Other Comprehensive Income (“AOCI”). In connection with the issuance of the 2013 notes, these interest rate derivative transactions were terminated, resulting in a loss and a payment of $8.5 million on March 28, 2008, the date of termination. The payments are recorded in AOCI and are being amortized over the life of the 2013 notes.

Credit Facility

At September 30, 2012 and December 31, 2011, we had an $800 million, five-year bank revolving credit facility, which expires in October 2016. Borrowings under the $800 million revolving credit facility are available at prevailing short-term interest rates. The facility requires the maintenance of interest coverage and total debt to Earnings Before Income Taxes, Depreciation and Amortization (“EBITDA”) ratios, which are defined in the credit agreement. We were in compliance with these revolving credit facility covenants at September 30, 2012 and December 31, 2011.

At September 30, 2012 and December 31, 2011, we had $320.1 million and $259.4 million, respectively, of borrowings outstanding under the $800 million revolving credit facility with weighted average interest rates of 1.39% and 1.58%, respectively. We borrowed under this facility from time-to-time during the nine months ended September 30, 2012 to supplement the timing of receipts in order to fund our working capital and share repurchases. The $800 million revolving credit facility also supports our commercial paper program which was increased from $300 million to $800 million during July 2012 (limited by borrowed amounts outstanding under the $800 million revolving credit facility). Under this program, we may issue from time-to-time unsecured promissory notes in the commercial paper market in private placements exempt from registration under the Securities Act of 1933, as amended, for a cumulative face amount not to exceed $800 million outstanding at any one time and with maturities not exceeding 364 days from the date of issuance. Outstanding commercial paper effectively reduces the amount available for borrowing under the $800 million revolving credit facility. We did not borrow under our commercial paper program during the nine months ended September 30, 2012 and 2011.

Other

At September 30, 2012 and December 31, 2011, certain of our international operations had uncommitted lines of credit of $2.1 million and $3.2 million, respectively. There were no borrowings outstanding under these lines of credit at September 30, 2012 and $0.2 million of borrowings outstanding under these lines of credit at December 31, 2011. These arrangements have no material facility fees and no compensating balance requirements.

At September 30, 2012 and December 31, 2011, we were contingently liable under open standby letters of credit and bank guarantees issued by our banks in favor of third parties and parent guarantees in favor of certain of our banks totaling $12.3 million and $12.2 million, respectively.

12

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-continued

(Tabular dollar amounts in millions, except per share data)

In March 2012, we terminated our interest rate derivative transactions resulting in the receipt of $5.0 million in cash on the date of termination. The $5.0 million cash received is reflected as an offset to interest paid in the unaudited consolidated statement of cash flows. Interest paid for all outstanding debt totaled $0.9 million and $13.3 million during the three month and nine month periods ended September 30, 2012, respectively. Interest paid for all outstanding debt totaled $0.6 million and $17.3 million during the three month and nine month periods ended September 30, 2011, respectively.

Note 5 -- Earnings Per Share

In accordance with the authoritative guidance in ASC 260-10, we are required to assess if any of our share-based payment transactions are deemed participating securities prior to vesting and therefore need to be included in the earnings allocation when computing Earnings Per Share (“EPS”) under the two-class method. The two-class method requires earnings to be allocated between common shareholders and holders of participating securities. All outstanding unvested share-based payment awards that contain non-forfeitable rights to dividends are considered to be a separate class of common stock and should be included in the calculation of basic and diluted EPS. Based on a review of our stock-based awards, we have determined that only our restricted stock awards are deemed participating securities. The weighted average restricted shares outstanding were 8,050 shares and 55,718 shares for the three months ended September 30, 2012 and 2011, respectively. The weighted average restricted shares outstanding were 15,543 shares and 74,908 shares for the nine months ended September 30, 2012 and 2011, respectively.

	Three months ended September 30,					Nine months ended September 30,
	2012		2011			2012			2011
Net Income Attributable to D&B	$	79.6	$	58.4		$	199.5		$	166.8
Less: Allocation to Participating Securities	—		(0.1		)	(0.1		)	(0.2		)
Net Income Attributable to D&B Common Shareholders - Basic and Diluted	$	79.6	$	58.3		$	199.4		$	166.6
Weighted Average Number of Shares Outstanding - Basic	44.8		48.9			46.4			49.2
Dilutive Effect of Our Stock Incentive Plans	0.4		0.2			0.4			0.4
Weighted Average Number of Shares Outstanding - Diluted	45.2		49.1			46.8			49.6
Basic Earnings Per Share of Common Stock Attributable to D&B Common Shareholders	$	1.77	$	1.19		$	4.29		$	3.38
Diluted Earnings Per Share of Common Stock Attributable to D&B Common Shareholders	$	1.76	$	1.19		$	4.26		$	3.36

Stock-based awards to acquire 1,376,145 shares and 1,720,584 shares of common stock were outstanding at the three months ended September 30, 2012 and 2011, respectively, but were not included in the computation of diluted earnings per share because the assumed proceeds, as calculated under the treasury stock method, resulted in these awards being anti-dilutive. Stock-based awards to acquire 1,385,966 shares and 1,451,235 shares of common stock were outstanding at the nine months ended September 30, 2012 and 2011, respectively, but were not included in the computation of diluted earnings per share because the assumed proceeds, as calculated under the treasury stock method, resulted in these awards being anti-dilutive. Our options generally expire ten years from the grant date.

13

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-continued

(Tabular dollar amounts in millions, except per share data)

Our share repurchases were as follows:

	For the Three Months Ended September 30,								For the Nine Months Ended September 30,
Program	2012				2011				2012				2011
	Shares		$ Amount		Shares		$ Amount		Shares		$ Amount		Shares		$ Amount
	(Dollar amounts in millions)								(Dollar amounts in millions)
Share Repurchase Programs	435,733	(a)	$	36.0	501,691	(b)	$	33.1	3,404,436	(a)	$	236.0	976,335	(b)	$	71.5
Repurchases to Mitigate the Dilutive Effect of the Shares Issued Under Our Stock Incentive Plans and Employee Stock Purchase Plan (“ESPP”)	—	(c)	—		308,809	(c)	21.0		59,563	(c)	4.0		666,365	(c)	50.1
Total Repurchases	435,733		$	36.0	810,500		$	54.1	3,463,999		$	240.0	1,642,700		$	121.6

(a) In August 2012, our Board of Directors approved a $500 million increase to our existing $500 million share repurchase program, for a total program authorization of $1 billion. The then existing $500 million program was announced in October 2011 and commenced in November 2011 upon completion of our then existing $200 million share repurchase program. We anticipate that this program will be completed in 2014.

(b) In February 2009, our Board of Directors approved a $200 million share repurchase program, which commenced in December 2009 upon completion of our then existing $400 million, two-year repurchase program. This program was completed in November 2011.

(c) In May 2010, our Board of Directors approved a four-year, five million share repurchase program to mitigate the dilutive effect of the shares issued under our stock incentive plans and ESPP. This program commenced in October 2010 and expires in October 2014. We anticipate that this program will be completed by October 2014.

Note 6 -- Other Accrued and Current Liabilities

	September 30, 2012		December 31, 2011
Restructuring Accruals	$	10.0	$	10.5
Professional Fees	37.8		33.6
Operating Expenses	42.0		35.1
Spin-Off Obligation (1)	1.6		20.5
Other Accrued Liabilities	40.8		53.9
	$	132.2	$	153.6

(1) In 2000, as part of a spin-off transaction under which Moody’s Corporation (“Moody’s”) and D&B became independent of one another, Moody’s and D&B entered into a Tax Allocation Agreement (“TAA”). Under the TAA, Moody’s and D&B agreed that Moody’s would be entitled to deduct the compensation expense associated with the exercise of Moody’s stock options (including Moody’s stock options exercised by D&B employees) and D&B would be entitled to deduct the compensation expense associated with the exercise of D&B stock options (including D&B stock options exercised by employees of Moody’s). Put simply, the tax deduction would go to the company that granted the stock options, rather than to the employer of the individual exercising the stock options. In 2002 and 2003, the Internal Revenue Service (“IRS”) issued rulings that clarified that, under the circumstances applicable to Moody’s and D&B, the compensation expense deduction belongs to the employer of the option grantee and not to the issuer of the option (e.g., D&B would be entitled to deduct the compensation expense associated with D&B employees exercising Moody’s options and Moody’s would be entitled to deduct the compensation expense associated with Moody’s employees exercising D&B options). We have filed tax returns for 2001 through 2011 consistent with the IRS rulings. We may be required to reimburse Moody’s for the loss of compensation expense deductions relating to tax years 2008 to 2010 of approximately $1.6 million in the aggregate for such years. This liability was reduced from $20.5 million at December 31, 2011 to $1.6 million during the first quarter of 2012 due to expiration of the statute of limitations. In 2005 and 2006, we paid Moody’s approximately $30.1 million in the aggregate, which represented the incremental tax benefits realized by D&B for tax years 2003-2005 from using the filing method consistent with the IRS rulings. In February 2011, we paid Moody’s an additional sum of approximately $2.5 million, for tax years 2003-2005. While not material, we may also be required to pay, in the future, amounts in addition to the approximately $1.6 million referenced above based upon interpretations by the parties of the TAA and the IRS rulings.

14

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-continued

(Tabular dollar amounts in millions, except per share data)

Note 7 -- Contingencies

We are involved in tax and legal proceedings, claims and litigation arising in the ordinary course of business for which we believe that we have adequate reserves, and such reserves are not material to our consolidated financial statements. We record a liability when management believes that it is both probable that a liability has been incurred and we can reasonably estimate the amount of the loss. For such matters where management believes a liability is not probable but is reasonably possible, a liability is not recorded; instead, an estimate of loss or range of loss, if material individually or in the aggregate, is disclosed if reasonably estimable, or a statement will be made that an estimate of loss cannot be made. Once we have disclosed a matter that we believe is or could be material to us, we continue to report on such matter until there is finality of outcome or until we determine that disclosure is no longer warranted. Further, we believe our estimate of the aggregate range of reasonably possible losses, in excess of established reserves, for our legal proceedings was not material at September 30, 2012.

China Operations

On March 18, 2012, we announced that we had temporarily suspended our Shanghai Roadway D&B Marketing Services Co Ltd. (“Roadway”) operations in China, pending an investigation into allegations that its data collection practices may violate local Chinese consumer data privacy laws. Thereafter, the Company decided to permanently cease the operations of Roadway. In addition, we have been reviewing certain allegations that we may have violated the Foreign Corrupt Practices Act and certain other laws in our China operations. As previously reported, we have voluntarily contacted the Securities and Exchange Commission and the United States Department of Justice to advise both agencies of our investigation. Our investigation remains ongoing and is being conducted at the direction of the Audit Committee.

For the nine months ended September 30, 2012, the Roadway business had $5.4 million of revenue and $14.5 million of operating loss. Additionally, during the nine months ended September 30, 2012, we have incurred $11.0 million of legal fees and other corporate shut-down costs and $1.8 million in local shut-down costs, as well as, an impairment charge of $12.9 million related to accounts receivable, intangible assets, prepaid costs and software for Roadway, an operation in our Greater China reporting unit. D&B acquired Roadway’s operations in 2009, and for 2011 Roadway accounted for approximately $22 million in revenue and $2 million in operating income.

On September 28, 2012, Roadway was charged in a Bill of Prosecution, along with five current or former employees, by the Shanghai District Prosecutor with illegally obtaining private information of Chinese citizens. A trial date has not yet been set. We have been advised that a conviction of Roadway and the five individuals is likely, and that a criminal fine will be imposed on Roadway. We are unable to provide a reasonable estimate of the fine at this time.

As our investigation is ongoing, we cannot yet predict the ultimate outcome of the matter or its impact, if any, on our business, financial condition, or results of operations. No amount in respect of any potential liability in this matter, including for penalties, fines or other sanctions, has been accrued in our consolidated financial statements.

15

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-continued

(Tabular dollar amounts in millions, except per share data)

Nicholas Martin v. Dun & Bradstreet, Inc. and Convergys Customer Management Group, Inc., No. 12 CV 215 (USDC N.D. IL.)

On January 11, 2012, Nicholas Martin filed suit against Dun & Bradstreet, Inc. and Convergys Customer Management Group, Inc. ("Convergys") in the United States District Court for the Northern District of Illinois. The complaint alleges that Defendants violated the Telephone Consumer Protection Act (“TCPA”) (47 U.S.C. §227) because Convergys placed a telephone call to Plaintiff’s cell phone using an automatic telephone dialing system ("ATDS") and because Dun & Bradstreet, Inc. authorized the telephone call. The TCPA generally prohibits the use of an ATDS to place a call to a cell phone for nonemergency purposes and without the prior express consent of the called party. The TCPA provides for statutory damages of $500 per violation,which may be trebled to $1,500 per violation at the discretion of the court if the plantiff proves the defendant willfully violated the Act. Plaintiff sought to bring this action as a class action on behalf of all persons who Defendant(s) called on their cell phone using an ATDS, where the Defendant(s) obtained the cell phone number from some source other than directly from the called party, during the period January 11, 2010 to the present. Both Dun & Bradstreet, Inc. and Convergys answered the complaint on March 2, 2012. Discovery has commenced and at this point the court has not set any discovery cutoff dates. On August 21, 2012, the Court granted Plantiff's motion for class certification, without prejudice, and gave the Defendants until December 19, 2012 to seek a ruling that decertifies the class. On September 4, 2012, the Defendants each filed petitions seeking leave to appeal this ruling to the Seventh Circuit Court of Appeals. Discovery is still ongoing. Due to the inherent uncertainties of litigation, we cannot accurately predict the ultimate outcome of the matter. No amount in respect of any potential judgment in this matter has been accrued in our consolidated financial statements.

Other Matters

In addition, in the normal course of business, and including without limitation, our merger and acquisition activities and financing transactions, D&B indemnifies other parties, including customers, lessors and parties to other transactions with D&B, with respect to certain matters. D&B has agreed to hold the other parties harmless against losses arising from a breach of representations or covenants, or arising out of other claims made against certain parties. These agreements may limit the time within which an indemnification claim can be made and the amount of the claim. D&B has also entered into indemnity obligations with its officers and directors.

Additionally, in certain circumstances, D&B issues guarantee letters on behalf of our wholly-owned subsidiaries for specific situations. It is not possible to determine the maximum potential amount of future payments under these indemnification agreements due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular agreement. Historically, payments made by D&B under these agreements have not had a material impact on our unaudited consolidated financial statements.

Note 8 -- Income Taxes

For the three months ended September 30, 2012, our effective tax rate was 5.6% as compared to 29.7% for the three months ended September 30, 2011. The 2012 effective tax rate was positively impacted by the release of reserves for uncertain tax positions primarily due to the effective settlement of an audit for the tax years 2005 and 2006.The effective tax rate for the three months ended September 30, 2011 was positively impacted by a tax benefit on a loss on the tax basis of a legal entity and negatively impacted by the tax impact of a loss on an investment. For the three months ended September 30, 2012, there are no changes in our effective tax rate that either have had or that we expect may reasonably have a material impact on our operations or future performance.

For the nine months ended September 30, 2012, our effective tax rate was 15.7% as compared to 29.3% for the nine months ended September 30, 2011. The effective tax rate for the nine months ended September 30, 2012, as compared to the nine months ended September 30, 2011 was positively impacted by the release of reserves for uncertain tax positions due to the effective settlement of an audit for the tax years 2005 and 2006, by a tax benefit on a loss on the tax basis of a legal entity and by tax benefits from the divestiture of the domestic portion of our Japan operations and negatively impacted by an impairment related to permanently ceasing operations of Roadway in China. The effective tax rate for the nine months ended September 30, 2011 was positively impacted by the release of reserves for uncertain tax positions due to the expiration of a statute of limitations for the tax year 2004 and by a tax benefit on a loss on the tax basis of a legal entity and negatively impacted by a reduction of our deferred tax assets resulting from an enacted change to the state of New Jersey's tax law during the second quarter of 2011 and the tax impact of a loss on an investment. For the nine months ended September 30, 2012, there are no changes in our effective tax rate that either have had or that we expect may reasonably have a material impact on our operations or future performance.

16

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-continued

(Tabular dollar amounts in millions, except per share data)

The total amount of gross unrecognized tax benefits as of September 30, 2012 was $100.0 million. The amount of unrecognized tax benefits that, if recognized, would impact the effective tax rate is $93.9 million, net of tax benefits. During the three months ended September 30, 2012, we decreased our unrecognized tax benefits by $24.9 million, net of increases. The decrease is primarily related to the effective settlement of an audit for the tax years 2005 and 2006. During the nine months ended September 30, 2012, we decreased our unrecognized tax benefits by approximately $20.1 million, net of increases, primarily related to the effective settlement of an audit for the tax years 2005 and 2006. We anticipate that it is reasonably possible total unrecognized tax benefits will decrease by approximately $59 million within the next twelve months as a result of the expiration of applicable statutes of limitation.

We recognize accrued interest expense related to unrecognized tax benefits in income tax expense. The total amount of interest expense recognized in the three month and nine month periods ended September 30, 2012 was $1.2 million and $2.5 million, net of tax benefits, respectively, as compared to $0.9 million and $2.6 million, net of tax benefits in the three month and nine month periods ended September 30, 2011, respectively. The total amount of accrued interest as of September 30, 2012 was $8.2 million, net of tax benefits, as compared to $11.0 million, net of tax benefits, as of September 30, 2011.

We or one of our subsidiaries file income tax returns in the U.S. Federal, and various state, local and foreign jurisdictions. In the U.S. Federal jurisdiction, we are no longer subject to examination by the IRS for years prior to 2007. In state and local jurisdictions, with a few exceptions, we are no longer subject to examinations by tax authorities for years prior to 2008. In foreign jurisdictions, with a few exceptions, we are no longer subject to examinations by tax authorities for years prior to 2007.

We have resolved the 2005 and 2006 tax years with IRS Appeals regarding the proposed Domestic Production Deduction Adjustments. As a result of our agreement, there were no changes in our tax liability for 2005 and 2006. The IRS is examining our 2007, 2008 and 2009 tax years. We expect the examination will be completed in the fourth quarter of 2013.

Note 9 -- Pension and Postretirement Benefits

The following table sets forth the components of the net periodic cost (income) associated with our pension plans and our postretirement benefit obligations:

	Pension Plans												Postretirement Benefit Obligations
	For the Three Months Ended September 30,						For the Nine Months Ended September 30,						For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2012			2011			2012			2011			2012			2011			2012			2011
Components of Net Periodic Cost (Income):
Service cost	$	1.3		$	1.1		$	4.4		$	4.5		$	0.3		$	—		$	0.5		$	0.2
Interest cost	19.0			21.2			56.5			63.9			0.1			0.2			0.5			0.7
Expected return on plan assets	(25.0		)	(27.8		)	(74.7		)	(82.9		)	—			—			—			—
Amortization of prior service cost (credit)	0.1			—			0.3			0.2			(2.4		)	(2.4		)	(7.4		)	(7.4		)
Recognized actuarial loss (gain)	9.0			6.5			26.7			20.1			(0.9		)	(0.6		)	(1.9		)	(1.7		)
Net Periodic Cost (Income)	$	4.4		$	1.0		$	13.2		$	5.8		$	(2.9	)	$	(2.8	)	$	(8.3	)	$	(8.2	)

We previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2011 that we expected to contribute $26.0 million to our U.S. Non-Qualified plans and non-U.S. pension plans and $6.0 million to our postretirement benefit plan for the year ended December 31, 2012. As of September 30, 2012, we have made contributions to our Non-Qualified U.S. and non-U.S. pension plans of $17.9 million and postretirement benefit plan of $2.4 million, respectively.

We incurred a settlement charge of $1.0 million in the first quarter of 2011, related to our Canadian plan. This charge was associated with our Financial Flexibility initiatives.

17

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-continued

(Tabular dollar amounts in millions, except per share data)

Note 10 -- Segment Information

The operating segments reported below are our segments for which separate financial information is available and upon which operating results are evaluated by management on a timely basis to assess performance and to allocate resources.

Simultaneously with the sale of the domestic portion of our Japanese operations to TSR, we entered into a ten-year commercial arrangement to provide TSR with global data for its Japanese competitors and became the exclusive distributor of TSR data to the Worldwide Network. We continue to manage our business through three segments. However, as of January 1, 2012, our Asia Pacific Worldwide Network has been moved out of our Europe and Other International Markets segment and into our Asia Pacific segment.

On January 1, 2012, we began managing our business through the following three segments (all prior periods have been reclassified to reflect the new segment structure):

• North America (which consists of our operations in the U.S. and Canada);

• Asia Pacific (which primarily consists of our operations in Australia, China, India and Asia Pacific Worldwide Network); and

• Europe and Other International Markets (which primarily consists of our operations in the UK, Netherlands, Belgium, Latin America and European Worldwide Network).

Prior to January 1, 2012, we managed and reported our business globally through the following three segments:

• North America (which consisted of our operations in the U.S. and Canada);

• Asia Pacific (which primarily consisted of our operations in Australia, Japan, China and India); and

• Europe and Other International Markets (which primarily consisted of our operations in the UK, Netherlands, Belgium, Latin America and the Worldwide Network).

18

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-continued

(Tabular dollar amounts in millions, except per share data)

Our customer solution sets are D&B Risk Management Solutions™, D&B Sales & Marketing Solutions™ and D&B Internet Solutions™. Inter-segment sales are immaterial, and no single customer accounted for 10% or more of our total revenue. For management reporting purposes, we evaluate business segment performance before restructuring charges, intercompany transactions and our Strategic Technology Investment, which we refer to as “MaxCV” for Maximizing Customer Value, because these charges are not a component of our ongoing income or expenses and may have a disproportionate positive or negative impact on the results of our ongoing underlying business.

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2012			2011			2012			2011
Revenue:
North America	$	308.3		$	304.7		$	872.8		$	879.2
Asia Pacific	44.8			43.2			133.2			122.1
Europe and Other International Markets	60.1			62.9			175.8			179.0
Consolidated Core	413.2			410.8			1,181.8			1,180.3
Divested and Other Businesses	—			28.6			18.1			79.5
Consolidated Total	$	413.2		$	439.4		$	1,199.9		$	1,259.8
Operating Income (Loss):
North America	117.3			112.1			323.0			324.0
Asia Pacific	5.1			5.0			(0.4		)	10.7
Europe and Other International Markets	17.3			15.4			46.1			36.2
Total Segments	139.7			132.5			368.7			370.9
Corporate and Other (1)	(30.0		)	(31.8		)	(95.3		)	(91.2		)
Consolidated Total	109.7			100.7			273.4			279.7
Non-Operating Income (Expense), Net (2)	(24.7		)	(17.6		)	(36.1		)	(46.6		)
Income Before Provision for Income Taxes and Equity in Net Income of Affiliates	$	85.0		$	83.1		$	237.3		$	233.1

(1) The following table summarizes “Corporate and Other:”

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2012			2011			2012			2011
Corporate Costs	$	(13.1	)	$	(14.0	)	$	(35.5	)	$	(40.6	)
Restructuring Expense	(4.8		)	(5.3		)	(23.2		)	(18.0		)
Strategic Technology Investment or MaxCV	(6.7		)	(12.5		)	(25.6		)	(32.6		)
Legal Fees And Other Shut-Down Costs Associated with Matters in China	(5.4		)	—			(11.0		)	—
Total Corporate and Other	$	(30.0	)	$	(31.8	)	$	(95.3	)	$	(91.2	)

(2) The following table summarizes “Non-Operating Income (Expense):”

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2012			2011			2012			2011
Interest Income	$	0.2		$	0.4		$	0.5		$	1.3
Interest Expense	(9.5		)	(9.1		)	(27.8		)	(27.4		)
Other Income (Expense) - Net	(15.4		)	(8.9		)	(8.8		)	(20.5		)
Non-Operating Income (Expense) - Net	$	(24.7	)	$	(17.6	)	$	(36.1	)	$	(46.6	)

19

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-continued

(Tabular dollar amounts in millions, except per share data)

Supplemental Geographic and Customer Solution Set Information:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2012		2011		2012		2011
Customer Solution Set Revenue:
North America:
Risk Management Solutions	$	178.8	$	183.5	$	518.5	$	539.8
Sales & Marketing Solutions	100.5		91.6		267.3		253.1
Internet Solutions	29.0		29.6		87.0		86.3
North America Core Revenue	308.3		304.7		872.8		879.2
Divested and Other Businesses (3)	—		2.3		—		7.3
Total North America Revenue	308.3		307.0		872.8		886.5
Asia Pacific:
Risk Management Solutions	38.1		38.9		112.2		108.0
Sales & Marketing Solutions	6.5		4.1		20.5		13.4
Internet Solutions	0.2		0.2		0.5		0.7
Asia Pacific Core Revenue	44.8		43.2		133.2		122.1
Divested and Other Businesses (3)	—		26.3		18.1		72.2
Total Asia Pacific Revenue	44.8		69.5		151.3		194.3
Europe and Other International Markets:
Risk Management Solutions	48.9		50.6		145.1		147.8
Sales & Marketing Solutions	10.5		11.6		28.7		29.4
Internet Solutions	0.7		0.7		2.0		1.8
Europe and Other International Markets Core Revenue	60.1		62.9		175.8		179.0
Divested and Other Businesses	—		—		—		—
Total Europe and Other International Markets Revenue	60.1		62.9		175.8		179.0
Consolidated Total:
Risk Management Solutions	265.8		273.0		775.8		795.6
Sales & Marketing Solutions	117.5		107.3		316.5		295.9
Internet Solutions	29.9		30.5		89.5		88.8
Core Revenue	413.2		410.8		1,181.8		1,180.3
Divested and Other Businesses (3)	—		28.6		18.1		79.5
Consolidated Total Revenue	$	413.2	$	439.4	$	1,199.9	$	1,259.8

(3) During the nine months ended September 30, 2012, we: a) completed the sale of: i) the domestic portion of our Japanese operations to TSR; and ii) our market research business in China, consisting of two joint venture companies; and b) the shut-down of our Roadway operations. These businesses have been classified as “Divested and Other Businesses.” These Divested and Other Businesses contributed 38% to our Asia Pacific total revenue for the three months ended September 30, 2011. These Divested and Other Businesses contributed contributed 12% and 37% to our Asia Pacific total revenue for the nine months ended September 30, 2012 and 2011, respectively.

During the nine months ended September 30, 2012, we completed the sale of: i) AllBusiness.com, Inc.; ii) Purisma Incorporated; and iii) a small supply management company. These businesses have been classified as “Divested and Other Businesses.” These Divested and Other Businesses contributed 1%, to our North America total revenue for the three month and nine month periods ended September 30, 2011, respectively.

20

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-continued

(Tabular dollar amounts in millions, except per share data)

The following table represents Divested and Other Businesses revenue by solution set:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2012		2011		2012		2011
Divested and Other Businesses:
Risk Management Solutions	$	—	$	10.1	$	8.7	$	28.4
Sales & Marketing Solutions	—		17.6		9.4		48.0
Internet Solutions	—		0.9		—		3.1
Total Divested and Other Businesses Revenue	$	—	$	28.6	$	18.1	$	79.5

	September 30, 2012		December 31, 2011
Assets:
North America	$	693.2	$	790.6
Asia Pacific	419.5		466.8
Europe and Other International Markets	317.6		317.8
Total Segments	1,430.3		1,575.2
Corporate and Other (primarily taxes)	391.3		401.9
Consolidated Total	$	1,821.6	$	1,977.1
Goodwill (4):
North America	$	266.8	$	266.0
Asia Pacific	232.6		222.0
Europe and Other International Markets	108.4		110.4
Consolidated Total	$	607.8	$	598.4

(4) The increase in goodwill in the Asia Pacific operating segment of $232.6 million at September 31, 2012 from $222.0million at December 31, 2011 was primarily due to the positive impact of foreign currency translation. The decrease in goodwill in the Europe and Other International Markets operating segment to $108.4 million at September 30, 2012 from $110.4 million at December 31, 2011 was primarily due to the negative impact of foreign currency translation.

Note 11 -- Financial Instruments

We employ established policies and procedures to manage our exposure to changes in interest rates and foreign currencies. We use foreign exchange forward contracts to hedge short-term foreign currency denominated loans, investments and certain third-party and intercompany transactions. We may also use foreign exchange forward contracts to hedge our net investments in our foreign subsidiaries and foreign exchange option contracts to reduce the volatility that fluctuating foreign exchange rates may have on our international earnings streams. In addition, we may use interest rate derivatives to hedge a portion of the interest rate exposure on our outstanding debt or in anticipation of a future debt issuance, as discussed under “Interest Rate Risk Management” below.

We do not use derivative financial instruments for trading or speculative purposes. If a hedging instrument ceases to qualify as a hedge in accordance with hedge accounting guidelines, any subsequent gains and losses are recognized currently in income. Collateral is generally not required for these types of instruments.

By their nature, all such instruments involve risk, including the credit risk of non-performance by counterparties. However, at September 30, 2012 and December 31, 2011, there was no significant risk of loss in the event of non-performance of the counterparties to these financial instruments. We control our exposure to credit risk through monitoring procedures.

Our trade receivables do not represent a significant concentration of credit risk at September 30, 2012 and December 31, 2011, because we sell to a large number of customers in different geographical locations.

21

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-continued

(Tabular dollar amounts in millions, except per share data)

Interest Rate Risk Management

Our objective in managing exposure to interest rates is to limit the impact of interest rate changes on our earnings, cash flows and financial position, and to lower overall borrowing costs. To achieve these objectives, we maintain a policy that floating-rate debt be managed within a minimum and maximum range of our total debt exposure. To manage our exposure and limit volatility, we may use fixed-rate debt, floating-rate debt and/or interest rate swaps. We recognize all derivative instruments as either assets or liabilities at fair value in the statement of financial position.

Fair Value Hedges

For interest rate derivative instruments that are designated and qualify as a fair value hedge, we assess quarterly whether the interest rate swaps are highly effective in offsetting changes in the fair value of the hedged debt. Changes in fair values of interest rate swap agreements that are designated fair-value hedges are recognized in earnings as an adjustment of “Other Income (Expense)—Net” in our consolidated statement of operations and comprehensive income. The effectiveness of the hedge is monitored on an ongoing basis for hedge accounting purposes, and if the hedge is considered ineffective, we discontinue hedge accounting prospectively.

In November 2010, we issued senior notes with a face value of $300 million that mature on November 15, 2015 (“the 2015 notes”). In November and December 2010, we entered into interest rate derivative transactions with aggregate notional amounts of $125 million. The objective of these hedges was to offset the change in fair value of the fixed rate 2015 notes attributable to changes in LIBOR. These transactions have been accounted for as fair value hedges. We have recognized the gain or loss on the derivative instruments, as well as the offsetting loss or gain on the hedged item, in “Other Income (Expense)—Net” in our consolidated statement of operations and comprehensive income.

In March 2012, in connection with our objective to manage exposure to interest rate changes and our policy to manage our fixed and floating-rate debt mix, these interest rate derivatives were terminated. This resulted in a gain of $0.3 million and the receipt of $5.0 million in cash on March 12, 2012, the swap termination settlement date. The gain of $0.3 million was recorded in “Other Income (Expense)—Net” in the consolidated statement of operations and comprehensive income during the nine months ended September 30, 2012. The $5.0 million cash received is reflected as an offset to interest paid in the unaudited consolidated statement of cash flows during the nine months ended September 30, 2012.

Approximately $0.8 million of derivative gains offset by a $0.5 million loss on the fair value adjustment related to the hedged debt were recorded through the date of termination in the results for the three months ended March 31, 2012. The $4.9 million adjustment in the carrying amount of the hedged debt at the date of termination will be amortized as an offset to “Interest Expense” in the consolidated statement of operations and comprehensive income over the remaining term of the 2015 notes. Approximately $0.7 million of amortization was recorded from the swap termination date through September 30, 2012, resulting in a balance of $4.2 million in our unaudited consolidated balance sheet at September 30, 2012.

Approximately $4.0 million of derivative gains offset by a $4.1 million loss on the fair value adjustment related to the hedged debt were recorded for the three months ended September 30, 2011. Approximately $5.8 million of derivative gains offset by a $5.9 million loss on the fair value adjustment related to the hedged debt were recorded for the nine months ended September 30, 2011.

Cash Flow Hedges

For interest rate derivative instruments that are designated and qualify as a cash flow hedge, the effective portion of the periodic hedge remeasurement gains or losses on the derivative are reported as a component of other comprehensive income and reclassified to earnings in the same period or periods during which the hedged transaction affects earnings. Gains and losses on the derivative representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in current earnings.

In January 2009 and December 2008, we entered into interest rate swap agreements with aggregate notional amounts of $25 million and $75 million, respectively, and designated these interest rate swaps as cash flow hedges against variability in cash flows related to our then existing $650 million revolving credit facility. These transactions were accounted for as cash flow hedges and, as such, changes in the fair value of the hedges were recorded in other comprehensive income. In connection with the termination of our former $650 million revolving credit facility, these interest rate derivative transactions were terminated, resulting in an acceleration of payments otherwise due under the instruments of $0.3 million on October 25, 2011, the $650 million revolving credit facility termination date, and were recorded in “Other Income (Expense)—Net” in the consolidated statement of operations and comprehensive income at December 31, 2011.

22

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-continued

(Tabular dollar amounts in millions, except per share data)

Foreign Exchange Risk Management

Our objective in managing exposure to foreign currency fluctuations is to reduce the volatility caused by foreign exchange rate changes on the earnings, cash flows and financial position of our international operations. We follow a policy of hedging balance sheet positions denominated in currencies other than the functional currency applicable to each of our various subsidiaries. In addition, we are subject to foreign exchange risk associated with our international earnings and net investments in our foreign subsidiaries. We use short-term, foreign exchange forward and option contracts to execute our hedging strategies. Typically, these contracts have maturities of twelve months or less. These contracts are denominated primarily in the British pound sterling, the Euro and Canadian dollar. The gains and losses on the forward contracts associated with the balance sheet positions are recorded in “Other Income (Expense)—Net” in our consolidated statement of operations and comprehensive income and are essentially offset by the gains and losses on the underlying foreign currency transactions.

As in prior years, we have hedged substantially all balance sheet positions denominated in a currency other than the functional currency applicable to each of our various subsidiaries with short-term, foreign exchange forward contracts. In addition, we may use foreign exchange option contracts to hedge certain foreign earnings streams and foreign exchange forward contracts to hedge certain net investment positions. The underlying transactions and the corresponding foreign exchange forward and option contracts are marked-to-market at the end of each quarter and the fair value impacts are reflected within our consolidated financial statements.

As of September 30, 2012 and 2011, the notional amounts of our foreign exchange contracts were $277.4 million and $379.0 million, respectively.

Fair Values of Derivative Instruments in the Consolidated Balance Sheet

	Asset Derivatives						Liability Derivatives
	September 30, 2012			December 31, 2011			September 30, 2012			December 31, 2011
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments
Interest rate contracts	Other Current Assets	$	—	Other Current Assets	$	4.3	Other Accrued & Current Liabilities	$	—	Other Accrued & Current Liabilities	$	—
Total Derivatives designated as hedging instruments		$	—		$	4.3		$	—		$	—
Derivatives not designated as hedging instruments
Foreign exchange forward contracts	Other Current Assets	$	—	Other Current Assets	$	0.7	Other Accrued & Current Liabilities	$	0.9	Other Accrued & Current Liabilities	$	0.7
Foreign exchange options contracts	Other Current Assets	0.1		Other Current Assets	—		Other Accrued & Current Liabilities	—		Other Accrued & Current Liabilities	—
Total derivatives not designated as hedging instruments		$	0.1		$	0.7		$	0.9		$	0.7
Total Derivatives		$	0.1		$	5.0		$	0.9		$	0.7

23

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-continued

(Tabular dollar amounts in millions, except per share data)

The Effect of Derivative Instruments on the Consolidated Statement of Operations and Comprehensive Income

Derivatives in Cash Flow Hedging Relationships	Amount of Gain or  (Loss) Recognized in OCI on Derivatives (Effective Portion)								Location of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	Amount of Gain or  (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)										Location of Gain or (Loss)  Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)	Amount of Gain or (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)
	For the Three Months Ended September 30,				For the Nine Months Ended September 30,					For the Three Months Ended September 30,					For the Nine Months Ended September 30,						For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2012		2011		2012		2011			2012		2011			2012		2011				2012		2011		2012		2011
Interest rate contracts	$	0.0	$	0.4	$	0.0	$	1.0	Non-Operating Income (Ex- penses) - Net	$	0.0	$	(0.4	)	$	0.0	$	(1.2	)	Non-Operating Income (Ex- penses) - Net	$	0.0	$	0.0	$	0.0	$	0.0

	Gain or (Loss) Recognized in Income on Derivatives
Derivatives in Fair Value Hedging Relationships	Location	For the Three Months Ended September 30,				For the Nine Months Ended September 30,				Hedged Item	Location	For the Three Months Ended September 30,					For the Nine Months Ended September 30,
		2012		2011		2012		2011				2012		2011			2012			2011
Interest rate contracts	Non-Operating Income (Expenses) - Net	$	0.0	$	4.0	$	0.8	$	5.8	Fixed- rate debt	Non-Operating Income (Expenses) - Net	$	0.0	$	(4.1	)	$	(0.5	)	$	(5.9	)

Our foreign exchange forward and option contracts are not designated as hedging instruments under authoritative guidance.

The Effect of Derivative Instruments on the Consolidated Statement of Operations and Comprehensive Income

Derivatives not Designated as Hedging Instruments	Location of Gain or (Loss) Recognized in Income on Derivatives	Amount of Gain or (Loss) Recognized in Income on Derivatives
		For the Three Months Ended September 30,						For the Nine Months Ended September 30,
		2012			2011			2012			2011
Foreign exchange forward contracts	Non-Operating Income (Expenses) - Net	$	6.1		$	(1.9	)	$	7.9		$	3.6
Foreign exchange option contracts	Non-Operating Income (Expenses) - Net	$	(0.2	)	$	—		$	(0.2	)	$	(0.4	)

Fair Value of Financial Instruments

Our financial assets and liabilities that are reflected in the consolidated financial statements include derivative financial instruments, cash and cash equivalents, accounts receivable, other receivables, accounts payable, short-term borrowings and long-term borrowings. We use short-term foreign exchange forward contracts to hedge short-term foreign currency-denominated intercompany loans and certain third-party and intercompany transactions and we use foreign exchange option contracts to reduce the volatility that fluctuating foreign exchange rates may have on our international earnings streams. Fair value for derivative financial instruments is determined utilizing a market approach.

We have a process for determining fair values. Fair value is based upon quoted market prices, where available. If listed prices or quotes are not available, we use quotes from independent pricing vendors based on recent trading activity and other relevant information including market interest rate curves and referenced credit spreads.

24

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-continued

(Tabular dollar amounts in millions, except per share data)

In addition to utilizing external valuations, we conduct our own internal assessment of the reasonableness of the external valuations by utilizing a variety of valuation techniques including Black-Scholes option pricing and discounted cash flow models that are consistently applied. Inputs to these models include observable market data, such as yield curves, and foreign exchange rates where applicable. Our assessments are designed to identify prices that do not accurately reflect the current market environment, those that have changed significantly from prior valuations and other anomalies that may indicate that a price may not be accurate. We also follow established routines for reviewing and reconfirming valuations with the pricing provider, if deemed appropriate. In addition, the pricing provider has an established challenge process in place for all valuations, which facilitates identification and resolution of potentially erroneous prices. Valuation adjustments may be made to ensure that financial instruments are recorded at fair value. These adjustments include amounts to reflect counterparty credit quality and our own creditworthiness and constraints on liquidity. For inactive markets that do not have observable pricing or sufficient trading volumes, or for positions that are subject to transfer restrictions, valuations are adjusted to reflect illiquidity and/or non-transferability. Such adjustments are generally based on available market evidence. In the absence of such evidence, management’s best estimate will be used.

The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while we believe our valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date.

The following table presents information about our assets and liabilities measured at fair value on a recurring basis as of September 30, 2012 and December 31, 2011, and indicates the fair value hierarchy of the valuation techniques utilized by us to determine such fair value. Level inputs, as defined by authoritative guidance, are as follows:

Level Input:	Input Definition:
Level I	Observable inputs utilizing quoted prices (unadjusted) for identical assets or liabilities in active markets at the measurement date.
Level II	Inputs other than quoted prices included in Level I that are either directly or indirectly observable for the asset or liability through corroboration with market data at the measurement date.
Level III	Unobservable inputs for the asset or liability in which little or no market data exists therefore requiring management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date.

In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability.

The following table summarizes fair value measurements by level at September 30, 2012 for assets and liabilities measured at fair value on a recurring basis:

	Quoted Prices in Active Markets for Identical Assets (Level I)		Significant Other Observable Inputs (Level II)		Significant Unobservable Inputs (Level III)		Balance at September 30, 2012
Assets:
Cash Equivalents (1)	$	47.9	$	—	$	—	$	47.9
Other Current Assets:
Foreign Exchange Option Contracts (2)	$	—	$	0.1	$	—	$	0.1
Liabilities:
Other Accrued and Current Liabilities:
Foreign Exchange Forwards (2)	$	—	$	0.9	$	—	$	0.9

(1) Cash equivalents represent fair value as it consists of highly liquid investments with an original maturity of three months or less.

(2) Primarily represents foreign currency forward and option contracts. Fair value is determined utilizing a market approach and considers a factor for nonperformance in the valuation.

25

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-continued

(Tabular dollar amounts in millions, except per share data)

The following table summarizes fair value measurements by level at December 31, 2011 for assets and liabilities measured at fair value on a recurring basis:

	Quoted Prices in Active Markets for Identical Assets (Level I)		Significant Other Observable Inputs (Level II)		Significant Unobservable Inputs (Level III)		Balance at December 31, 2011
Assets:
Cash Equivalents (1)	$	21.6	$	—	$	—	$	21.6
Other Current Assets:
Foreign Exchange Forwards (2)	$	—	$	0.7	$	—	$	0.7
Swap Arrangement (3)	$	—	$	4.3	$	—	$	4.3
Liabilities:
Other Accrued and Current Liabilities:
Foreign Exchange Forwards (2)	$	—	$	0.7	$	—	$	0.7

(1) Cash equivalents represent fair value as it consists of highly liquid investments with an original maturity of three months or less.

(2) Primarily represents foreign currency forward contracts. Fair value is determined utilizing a market approach and considers a factor for nonperformance in the valuation.

(3) Primarily represents our interest rate swap agreements including $4.3 million related to fair value hedges. Fair value is determined utilizing a market approach and considers a factor for nonperformance in the valuation.

At September 30, 2012 and December 31, 2011, the fair value of cash and cash equivalents, accounts receivable, other receivables and accounts payable approximated carrying value due to the short-term nature of these instruments. The estimated fair values of other financial instruments subject to fair value disclosures, determined based on valuation models using discounted cash flow methodologies with market data inputs from globally recognized data providers and third-party quotes from major financial institutions (categorized as Level II in the fair value hierarchy), are as follows:

	Balance at
	September 30, 2012				December 31, 2011
	Carrying Amount (Asset) Liability		Fair Value (Asset) Liability		Carrying Amount (Asset) Liability		Fair Value (Asset) Liability
Short-term Debt	$	400.0	$	421.9	$	—	$	—
Long-term Debt	$	299.3	$	311.1	$	699.2	$	723.3
Credit Facilities	$	320.1	$	316.2	$	259.4	$	259.8

Items Measured at Fair Value on a Nonrecurring Basis

In addition to assets and liabilities that are recorded at fair value on a recurring basis, we are required to record assets and liabilities at fair value on a nonrecurring basis as required by GAAP. Generally, assets are recorded at fair value on a nonrecurring basis as a result of impairment charges.

During the first quarter of 2012, we recorded an impairment charge of $12.9 million related to the accounts receivable, intangible assets, prepaid costs and software for Roadway, an operation in our Greater China reporting unit. See Note 7 to our unaudited consolidated financial statements included in this Quarterly Report on Form 10-Q for further discussion on this investigation. We determined that the new cost basis of intangible assets, prepaid costs and software is zero based on Level III inputs (see “Fair Value of Financial Instruments” above for discussion on Level inputs) to measure fair value, as market data of these assets are not readily available. We wrote down the accounts receivable to its realizable value based on the probability of collecting from the customer accounts. Of the $12.9 million impairment charge, $4.1 million was included in “Operating Costs” and $8.8 million was included in “Selling and Administrative Expenses” in our Asia Pacific segment.

During the nine months ended September 30, 2011, we did not measure any assets or liabilities at fair value on a nonrecurring basis.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-continued

(Tabular dollar amounts in millions, except per share data)

Note 12 -- Acquisition

MicroMarketing D&B (Beijing) Co. Ltd

On November 1, 2011, we acquired substantially all of the assets of MicroMarketing, a leading provider of direct and digital marketing services in China with offices in Beijing and Shanghai. Specifically, MicroMarketing provides Sales & Marketing solutions in the technology sector and is expanding into higher growth targeted sectors including financial services, pharmaceuticals and automotive. This acquisition represents an important step to continue to grow our business in China. MicroMarketing will expand our business-to-business database in China and add digital marketing capabilities to enable us to better serve the sales and marketing needs of our customers. The results of MicroMarketing have been included in our consolidated financial statements since the date of acquisition.

The acquisition was valued at $14.4 million, including a contingent consideration of $1.5 million. The acquisition was funded with cash on hand. Transaction costs of $1.2 million were included in operating expenses in the consolidated statement of operations and comprehensive income. The performance targets set forth in the purchase agreement for the contingent consideration are not expected to be met. As a result, this contingent liability was reversed in the second quarter of 2012, reducing our operating expenses in the consolidated statement of operations and comprehensive income. The acquisition was accounted for as a purchase transaction, and accordingly, the assets and liabilities of the acquired entity were recorded at their estimated fair values at the date of the acquisition. The table below reflects the purchase related to the acquisition and the resulting purchase price allocation:

	Amortization Life (years)	Acquisition
Intangible Assets:
Trademark	8.5	$	0.6
Customer Relationships	10	2.7
Database	6.5	1.4
Technology	6.5	0.6
Goodwill	Indefinite	8.9
Other		0.2
Total Assets Acquired		14.4
Total Liabilities Assumed		—
Total Purchase Price		$	14.4

The goodwill was assigned to our Greater China reporting unit, which is a part of our Asia Pacific segment. The primary item that generated the goodwill is the value of revenue growth from MicroMarketing’s future customers and future technology development. The intangible assets, with useful lives from 6.5 to 10 years, are being amortized over a weighted-average useful life of 8.5 years. The intangibles have been recorded as “Trademarks, Patents and Other” within Other Non-Current Assets in our consolidated balance sheet since the date of acquisition. The impact that the acquisition would have had on our results had the acquisition occurred at the beginning of 2011 was not material, and as such, pro forma financial results have not been presented.

Treatment of Goodwill

The acquisition of MicroMarketing was an asset acquisition and under applicable tax law the goodwill acquired is not deductible for tax purposes.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-continued

(Tabular dollar amounts in millions, except per share data)

Note 13 -- Divestitures and Other Businesses

Shanghai Roadway D&B Marketing Services Co Ltd.

On March 18, 2012, we announced that we had temporarily suspended our Shanghai Roadway D&B Marketing Services Co Ltd. (“Roadway”) operations in China, pending an investigation into allegations that its data collection practices may violate local Chinese consumer data privacy laws. Thereafter, the Company decided to permanently cease the operations of Roadway. In addition, we have been reviewing certain allegations that we may have violated the Foreign Corrupt Practices Act and certain other laws in our China operations. As previously reported, we have voluntarily contacted the Securities and Exchange Commission and the United States Department of Justice to advise both agencies of our investigation. Our investigation remains ongoing and is being conducted at the direction of the Audit Committee.

For the nine months ended September 30, 2012, the Roadway business had $5.4 million of revenue and $14.5 million of operating loss. Additionally, during the nine months ended September 30, 2012, we have incurred $11.0 million of legal fees and other corporate shut-down costs and $1.8 million in local shut-down costs, as well as, an impairment charge of $12.9 million related to accounts receivable, intangible assets, prepaid costs and software for Roadway, an operation in our Greater China reporting unit. D&B acquired Roadway’s operations in 2009, and for 2011 Roadway accounted for approximately $22 million in revenue and $2 million in operating income.

On September 28, 2012, Roadway was charged in a Bill of Prosecution, along with five current or former employees, by the Shanghai District Prosecutor with illegally obtaining private information of Chinese citizens. A trial date has not yet been set. We have been advised that a conviction of Roadway and the five individuals is likely, and that a criminal fine will be imposed on Roadway. We are unable to provide a reasonable estimate of the fine at this time.

Domestic Portion of our Japanese Joint Venture

In February 2012, we completed the sale of the domestic portion of our Japan operations to TSR, our local joint venture partner since December 2007, for $4.5 million. As a result, we recorded a pre-tax gain of $3.0 million in Other Income (Expense) – Net in the unaudited consolidated statement of operations and comprehensive income during the nine months ended September 30, 2012. Our domestic Japanese operations generated approximately $64 million in revenue during 2011.

Simultaneously with closing this transaction, we entered into a ten-year commercial arrangement to provide TSR with global data for its Japanese customers and to become the exclusive distributor of TSR data to the Worldwide Network. From the date of this transaction, this arrangement has aggregate future cash payments of approximately $140 million.

AllBusiness.com, Inc.

In February 2012, we completed the sale of AllBusiness.com, Inc., a U.S. entity included in our North American reporting segment, for $0.4 million. As a result, we recorded a pre-tax loss of $0.4 million in Other Income (Expense) – Net in the unaudited consolidated statement of operations and comprehensive income during the nine months ended September 30, 2012. AllBusiness.com, Inc. generated approximately $4 million in revenue during 2011.

Chinese Market Research Joint Ventures

In January 2012, we completed the sale of our market research business in China, consisting of two joint venture companies, by selling our equity interests in such companies to our partner for a total purchase price of $5.0 million. As a result, we recorded a pre-tax gain of $1.4 million in Other Income (Expense) – Net in the unaudited consolidated statement of operations and comprehensive income during the nine months ended September 30, 2012. The joint venture generated approximately $16 million in revenue during 2011.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)-continued

(Tabular dollar amounts in millions, except per share data)

Purisma Incorporated

In January 2012, we completed the sale of Purisma Incorporated, a U.S. entity included in our North American reporting segment, for $2.0 million. As a result, we recorded a pre-tax gain of $2.0 million in Other Income (Expense) – Net in the unaudited consolidated statement of operations and comprehensive income during the nine months ended September 30, 2012. Purisma Incorporated generated approximately $4 million in revenue during 2011.

Note 14 -- Subsequent Events

Dividend Declaration

In October 2012, we approved the declaration of a dividend of $0.38 per share of common stock for the fourth quarter of 2012. This cash dividend will be payable on December 13, 2012 to shareholders of record at the close of business on November 28, 2012.

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Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations

Business Overview

The Dun & Bradstreet Corporation (“D&B” or the "Company" or “we” or “our”) is the world’s leading source of commercial information and insight on businesses, enabling customers to Decide with Confidence^® for 171 years. Our global commercial database contains more than 215 million business records. The database is enhanced by our proprietary DUNSRight^® Quality Process, which provides our customers with quality business information. This quality information is the foundation of our global solutions that customers rely on to make critical business decisions.

We provide solution sets that meet a diverse set of customer needs globally. Customers use our D&B Risk Management Solutions^TM to mitigate credit and supplier risk, increase cash flow and drive increased profitability; our D&B Sales & Marketing Solutions^TM to increase revenue from new and existing customers; and our D&B Internet Solutions^® to convert prospects into clients faster by enabling business professionals to research companies, executives and industries.

Simultaneously with the sale of the domestic portion of our Japanese operations to Tokyo Shoko Research Ltd. (“TSR”), we entered a ten-year commercial arrangement to provide TSR with global data for its Japanese competitors and became the exclusive distributor of TSR data to the Worldwide Network. We continue to manage our business through three segments. However, as of January 1, 2012, our Asia Pacific Worldwide Network has been moved out of our Europe and Other International Markets segment and into our Asia Pacific segment.

On January 1, 2012, we began managing our business through the following three segments (all prior periods have been reclassified to reflect the new segment structure):

• North America (which consists of our operations in the United States (“U.S.”) and Canada);

• Asia Pacific (which primarily consists of our operations in Australia, China, India and Asia Pacific Worldwide Network); and

• Europe and Other International Markets (which primarily consists of our operations in the United Kingdom (“UK”), Netherlands, Belgium, Latin America and European Worldwide Network).

Prior to January 1, 2012, we managed and reported our business globally through the following three segments:

• North America (which consisted of our operations in the U.S. and Canada);

• Asia Pacific (which primarily consisted of our operations in Australia, Japan, China and India); and

• Europe and Other International Markets (which primarily consisted of our operations in the UK, Netherlands, Belgium, Latin America and the Worldwide Network).

How We Manage Our Business

For internal management purposes, we refer to “core revenue,” which we calculate as total operating revenue less the revenue of divested and other businesses. Core revenue is used to manage and evaluate the performance of our segments and to allocate resources because this measure provides an indication of the underlying changes in revenue in a single performance measure. Core revenue does not include reported revenue of divested and shut-down businesses since they are not included in future revenue.

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During the nine months ended September 30, 2012, we a) completed the sale of: i) the domestic portion of our Japanese operations to TSR; and ii) our market research business in China, consisting of two joint venture companies; and b) the shut-down of Shanghai Roadway D&B Marketing Service Co Ltd. (“Roadway”). These businesses have been classified as “Divested and Other Businesses.” These Divested and Other Businesses contributed 38% to our Asia Pacific total revenue for the three months ended September 30, 2011. These Divested and Other Businesses contributed 12% and 37% to our Asia Pacific total revenue for the nine months ended September 30, 2012 and 2011, respectively. See Note 10 and Note 13 to our unaudited consolidated financial statements included in Item 1. of this Quarterly Report on Form 10-Q for further detail.

During the nine months ended September 30, 2012, we completed the sale of: i) AllBusiness.com, Inc.; ii) Purisma Incorporated; and iii) a small supply management company. These businesses have been classified as “Divested and Other Businesses.” These Divested and Other Businesses contributed 1% to our North America total revenue for the three month and nine month periods ended September 30, 2011, respectively. See Note 10 and Note 13 to our unaudited consolidated financial statements included in Item 1. of this Quarterly Report on Form 10-Q for further detail.

We also isolate the effects of changes in foreign exchange rates on our revenue growth because we believe it is useful for investors to be able to compare revenue from one period to another, both with and without the effects of foreign exchange. The change in our operating performance attributable to foreign currency rates is determined by converting both our prior and current periods by a constant rate. As a result, we monitor our core revenue growth both after and before the effects of foreign exchange. Core revenue growth excludes the effects of foreign exchange.

From time-to-time we have analyzed and we may continue to further analyze core revenue growth before the effects of foreign exchange among two components, “organic core revenue growth” and “core revenue growth from acquisitions.” We analyze “organic core revenue growth” and “core revenue growth from acquisitions” because management believes this information provides an important insight into the underlying health of our business. Core revenue includes the revenue from acquired businesses from the date of acquisition.

We evaluate the performance of our business segments based on segment revenue growth before the effects of foreign exchange, and segment operating income growth before certain types of gains and charges that we consider do not reflect our underlying business performance. Specifically, for management reporting purposes, we evaluate business segment performance “before non-core gains and charges” because such charges are not a component of our ongoing income or expenses and/or may have a disproportionate positive or negative impact on the results of our ongoing underlying business operations. A recurring component of non-core gains and charges are our restructuring charges, which result from a foundational element of our growth strategy that we refer to as Financial Flexibility. Through Financial Flexibility, management identifies opportunities to improve the performance of the business in terms of reallocating our spending from low-growth or low-value activities to activities that will create greater value for shareholders through enhanced revenue growth, improved profitability and/or quality improvements. Management is committed through this process to examining our spending, and optimizing between variable and fixed costs to ensure flexibility in changes to our operating expense base as we make strategic choices. This enables us to continually and systematically identify improvement opportunities in terms of quality, cost and customer experience. Such charges are variable from period-to-period based upon actions identified and taken during each period. Management reviews operating results before such non-core gains and charges on a monthly basis and establishes internal budgets and forecasts based upon such measures. Management further establishes annual and long-term compensation such as salaries, target cash bonuses and target equity compensation amounts based on performance before non-core gains and charges and a significant percentage weight is placed upon performance before non-core gains and charges in determining whether performance objectives have been achieved. Management believes that by eliminating non-core gains and charges from such financial measures, and by being overt to shareholders about the results of our operations excluding such charges, business leaders are provided incentives to recommend and execute actions that are in the best long-term interests of our shareholders, rather than being influenced by the potential impact a charge in a particular period could have on their compensation. See Note 10 to our unaudited consolidated financial statements included in Item 1. of this Quarterly Report on Form 10-Q for financial information regarding our segments.

Similarly, when we evaluate the performance of our business as a whole, we focus on results (such as operating income, operating income growth, operating margin, net income, tax rate and diluted earnings per share) before non-core gains and charges because such non-core gains and charges are not a component of our ongoing income or expenses and/or may have a disproportionate positive or negative impact on the results of our ongoing underlying business operations and may drive behavior that does not ultimately maximize shareholder value. It may be concluded from our presentation of non-core gains and charges that the items that result in non-core gains and charges may re-occur in the future.

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We monitor free cash flow as a measure of our business. We define free cash flow as net cash provided by operating activities minus capital expenditures and additions to computer software and other intangibles. Free cash flow measures our available cash flow for potential debt repayment, acquisitions, stock repurchases, dividend payments and additions to cash, cash equivalents and short-term investments. We believe free cash flow to be relevant and useful to our investors as this measure is used by our management in evaluating the funding available after supporting our ongoing business operations and our portfolio of product investments.

Free cash flow should not be considered as a substitute measure for, or superior to, net cash flows provided by operating activities, investing activities or financing activities. Therefore, we believe it is important to view free cash flow as a complement to our consolidated statements of cash flows.

In addition, we evaluate our North America Risk Management Solutions based on two metrics: (1) “subscription,” and “non-subscription,” and (2) “DNBi^® ” and “non-DNBi.” We define “subscription” as contracts that allow customers’ unlimited use. In these instances, we recognize revenue ratably over the term of the contract, which is generally one year and “non-subscription” as all other revenue streams. We define “DNBi” as our interactive, customizable online application that offers our customers real time access to our most complete and up-to-date global DUNSRight information, comprehensive monitoring and portfolio analysis and “non-DNBi” as all other revenue streams. Management believes these measures provide further insight into our performance and growth of our North America Risk Management Solutions revenue.

The adjustments discussed herein to our results as determined under generally accepted accounting principles in the United States of America (“GAAP”) are among the primary indicators management uses as a basis for our planning and forecasting of future periods, to allocate resources, to evaluate business performance and, as noted above, for compensation purposes. However, these financial measures (e.g., results before non-core gains and charges and free cash flow) are not prepared in accordance with GAAP, and should not be considered in isolation or as a substitute for total revenue, operating income, operating income growth, operating margin, net income, tax rate, diluted earnings per share, or net cash provided by operating activities, investing activities and financing activities prepared in accordance with GAAP. In addition, it should be noted that because not all companies calculate these financial measures similarly, or at all, the presentation of these financial measures is not likely to be comparable to measures of other companies.

See “Results of Operations” below for a discussion of our results reported on a GAAP basis.

Overview

Simultaneously with the sale of the domestic portion of our Japanese operations to TSR, we entered into a ten-year commercial arrangement to provide TSR with global data for its Japanese competitors and became the exclusive distributor of TSR data to the Worldwide Network. We continue to manage our business through three segments. However, as of January 1, 2012, our Asia Pacific Worldwide Network has been moved out of our Europe and Other International Markets segment and into our Asia Pacific segment.

On January 1, 2012, we began managing our business through the following three segments (all prior periods have been reclassified to reflect the new segment structure):

• North America (which consists of our operations in the U.S. and Canada);

• Asia Pacific (which primarily consists of our operations in Australia, China, India and Asia Pacific Worldwide Network); and

• Europe and Other International Markets (which primarily consists of our operations in the UK, Netherlands, Belgium, Latin America and European Worldwide Network).

Prior to January 1, 2012, we managed and reported our business globally through the following three segments:

• North America (which consisted of our operations in the U.S. and Canada);

• Asia Pacific (which primarily consisted of our operations in Australia, Japan, China and India); and

• Europe and Other International Markets (which primarily consisted of our operations in the UK, Netherlands, Belgium, Latin America and the Worldwide Network).

The financial statements of our subsidiaries outside North America reflect a fiscal quarter ended August 31 to facilitate the timely reporting of our unaudited consolidated financial results and unaudited consolidated financial position.

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The following table presents the contribution by segment to total revenue and core revenue:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2012		2011		2012		2011
Total Revenue:
North America	75	%	70	%	73	%	70	%
Asia Pacific	11	%	16	%	12	%	16	%
Europe and Other International Markets	14	%	14	%	15	%	14	%
Core Revenue:
North America	75	%	74	%	74	%	75	%
Asia Pacific	11	%	11	%	11	%	10	%
Europe and Other International Markets	14	%	15	%	15	%	15	%

The following table presents contributions by customer solution set to total revenue and core revenue:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2012		2011		2012		2011
Total Revenue by Customer Solution Set (1):
Risk Management Solutions	65	%	62	%	65	%	64	%
Sales & Marketing Solutions	28	%	24	%	26	%	23	%
Internet Solutions	7	%	7	%	7	%	7	%
Core Revenue by Customer Solution Set:
Risk Management Solutions	65	%	67	%	66	%	67	%
Sales & Marketing Solutions	28	%	26	%	27	%	25	%
Internet Solutions	7	%	7	%	7	%	8	%

(1) Our Divested and Other Businesses contributed 7% to our total consolidated revenue for the three months ended September 30, 2011. Our Divested and Other Businesses contributed 2% and 6% to our total consolidated revenue for the nine months ended September 30, 2012, and 2011, respectively. See Note 10 and Note 13 to our unaudited consolidated financial statements included in Item 1. of this Quarterly Report on Form 10-Q for further detail.

Our customer solution sets are discussed in greater detail in “Item 1. Business” in our Annual Report on Form 10-K for the year ended December 31, 2011.

Within our Risk Management Solutions, we monitor the performance of our “Traditional” products, our “Value-Added” products and our “Supply Management” products. Within our Sales & Marketing Solutions, we monitor the performance of our “Traditional” products and our “Value-Added” products.

Risk Management Solutions

Our Traditional Risk Management Solutions include our DNBi product line, as well as reports from our database which are used primarily for making decisions about new credit applications. Our Traditional Risk Management Solutions constituted the following percentages of total Risk Management Solutions Revenue, Total Revenue and Core Revenue:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2012		2011		2012		2011
Risk Management Solutions Revenue	74	%	74	%	75	%	75	%
Total Revenue	48	%	46	%	48	%	47	%
Core Revenue	48	%	50	%	49	%	50	%

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Our Value-Added Risk Management Solutions generally support automated decision-making and portfolio management through the use of scoring and integrated software solutions. Our Value-Added Risk Management Solutions constituted the following percentages of total Risk Management Solutions Revenue, Total Revenue and Core Revenue:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2012		2011		2012		2011
Risk Management Solutions Revenue	21	%	20	%	19	%	19	%
Total Revenue	13	%	12	%	13	%	13	%
Core Revenue	13	%	13	%	13	%	13	%

Our Supply Management Solutions can help companies better understand the financial risk of their supply chain. Our Supply Management Solutions constituted the following percentages of total Risk Management Solutions Revenue, Total Revenue and Core Revenue:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2012		2011		2012		2011
Risk Management Solutions Revenue	5	%	6	%	6	%	6	%
Total Revenue	4	%	4	%	4	%	4	%
Core Revenue	4	%	4	%	4	%	4	%

Sales & Marketing Solutions

Our Traditional Sales & Marketing Solutions generally consist of marketing lists, labels and customized data files used by our customers in their direct mail and marketing activities. Our Traditional Sales & Marketing Solutions constituted the following percentages of total Sales & Marketing Solutions Revenue, Total Revenue and Core Revenue:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2012		2011		2012		2011
Sales & Marketing Solutions Revenue	31	%	36	%	30	%	34	%
Total Revenue	9	%	8	%	8	%	8	%
Core Revenue	9	%	9	%	8	%	9	%

Our Value-Added Sales & Marketing Solutions generally include decision-making and customer information management solutions, including data management solutions like Optimizer (our solution to cleanse, identify and enrich our customers’ client portfolios) and products introduced as part of our Data-as-a-Service (or “DaaS”) Strategy, which integrates our data directly into the applications and platforms that our customers use every day. Our Value-Added Sales & Marketing Solutions constituted the following percentages of total Sales & Marketing Solutions Revenue, Total Revenue and Core Revenue:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2012		2011		2012		2011
Sales & Marketing Solutions Revenue	69	%	64	%	70	%	66	%
Total Revenue	19	%	16	%	18	%	15	%
Core Revenue	19	%	17	%	19	%	16	%

Critical Accounting Policies and Estimates

In preparing our unaudited consolidated financial statements and accounting for the underlying transactions and balances reflected therein, we have applied the critical accounting policies described in “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the year ended December 31, 2011.

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Recently Issued Accounting Standards

See Note 2 to our unaudited consolidated financial statements included in Item 1. of this Quarterly Report on Form 10-Q for disclosure of the impact that recent accounting pronouncements may have on our unaudited consolidated financial statements.

Results of Operations

The following discussion and analysis of our financial condition and results of operations are based upon our unaudited consolidated financial statements and should be read in conjunction with the unaudited consolidated financial statements and related notes set forth in Item 1. of this Quarterly Report on Form 10-Q, and our Annual Report on Form 10-K for the year ended December 31, 2011, all of which have been prepared in accordance with GAAP.

Consolidated Revenue

The following table presents our core and total revenue by segment:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2012		2011		2012		2011
	(Amounts in millions)				(Amounts in millions)
Revenue:
North America	$	308.3	$	304.7	$	872.8	$	879.2
Asia Pacific	44.8		43.2		133.2		122.1
Europe and Other International Markets	60.1		62.9		175.8		179.0
Core Revenue	413.2		410.8		1,181.8		1,180.3
Divested and Other Businesses	—		28.6		18.1		79.5
Total Revenue	$	413.2	$	439.4	$	1,199.9	$	1,259.8

The following table presents our core and total revenue by customer solution set:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2012		2011		2012		2011
	(Amounts in millions)				(Amounts in millions)
Revenue:
Risk Management Solutions	$	265.8	$	273.0	$	775.8	$	795.6
Sales & Marketing Solutions	117.5		107.3		316.5		295.9
Internet Solutions	29.9		30.5		89.5		88.8
Core Revenue	413.2		410.8		1,181.8		1,180.3
Divested and Other Businesses	—		28.6		18.1		79.5
Total Revenue	$	413.2	$	439.4	$	1,199.9	$	1,259.8

Three Months Ended September 30, 2012 vs. Three Months Ended September 30, 2011

Total revenue decreased $26.2 million, or 6% (5% decrease before the effect of foreign exchange), for the three months ended September 30, 2012 as compared to the three months ended September 30, 2011. The decrease in total revenue was primarily driven by a decrease in Asia Pacific total revenue of $24.7 million, or 36% (34% decrease before the effect of foreign exchange), and a decrease in Europe and Other International Markets total revenue of $2.8 million, or 4% (3% increase before the effect of foreign exchange), partially offset by an increase in North America total revenue of $1.3 million, or less than 1% (1% increase before the effect of foreign exchange).

Asia Pacific total revenue was negatively impacted by: a) the divestiture of: i) the domestic portion of our Japanese operations to TSR; and ii) our market research business in China, consisting of two joint venture companies; and b) the shut-down of our Roadway operations, in the first quarter of 2012, all of which we reclassified as Divested and Other Businesses partially offset by the acquisition of MicroMarketing.

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North America total revenue was negatively impacted by the divesture of: i) AllBusiness.com, Inc.; ii) Purisma Incorporated and iii) a small supply management company in the first half of 2012, all of which we reclassified as Divested and Other Businesses.

Core revenue, which reflects total revenue less revenue from Divested and Other Businesses, increased $2.4 million, or 1% (2% increase before the effect of foreign exchange), for the three months ended September 30, 2012 as compared to the three months ended September 30, 2011. The increase in core revenue is primarily attributed to:

• Growth in our products (e.g., Optimizer) and increased previous commitments primarily related to growth in our Data as a Service or “DaaS” products (e.g., D&B 360); and

• An increase in revenue as a result of the acquisition of MicroMarketing, which we consolidated in the fourth quarter of 2011;

partially offset by:

• Lower revenue in North America from non-DNBi subscription products. Budget constraints have led customers to continue to reduce spend.

Customer Solution Sets

On a customer solution set basis, core revenue reflects:

• A $7.2 million, or 3% decrease (1% decrease before the effect of foreign exchange), in Risk Management Solutions. The decrease was driven by a decrease in revenue in North America of $4.7 million, or 3% (2% decrease before the effect of foreign exchange), a decrease in revenue in Europe and Other International Markets of $1.7 million, or 3% (4% increase before the effect of foreign exchange), and a decrease in revenue in Asia Pacific of $0.8 million, or 2% (3% increase before the effect of foreign exchange);

• A $10.2 million, or 10% increase (11% increase before the effect of foreign exchange), in Sales & Marketing Solutions. The increase was driven by an increase in revenue in North America of $8.9 million, or 10% (both before and after the effect of foreign exchange), an increase in revenue in Asia Pacific of $2.4 million, or 58% (73% increase before the effect of foreign exchange), partially offset by a decrease in Europe and Other International Markets of $1.1 million, or 10% (5% decrease before the effect of foreign exchange); and

• A $0.6 million, or 3% decrease (2% decrease before the effect of foreign exchange), in Internet Solutions. The decrease was driven by a decrease in revenue in North America of $0.6 million, or 3% (both before and after the effect of foreign exchange).

Nine Months Ended September 30, 2012 vs. Nine Months Ended September 30, 2011

Total revenue decreased $59.9 million, or 5% (4% decrease before the effect of foreign exchange), for the nine months ended September 30, 2012 as compared to the nine months ended September 30, 2011. The decrease in total revenue was primarily driven by a decrease in Asia Pacific total revenue of $43.0 million, or 22% (both before and after the effect of foreign exchange), a decrease in North America total revenue of $13.7 million, or 2% (both before and after the effect of foreign exchange), and a decrease in Europe and Other International Markets total revenue of $3.2 million, or 2% (3% increase before the effect of foreign exchange).

Asia Pacific total revenue was negatively impacted by: a) the divestiture of: i) the domestic portion of our Japanese operations to TSR; and ii) our market research business in China, consisting of two joint venture companies; and b) the shut-down of our Roadway operations, in the first quarter of 2012, all of which we reclassified as Divested and Other Businesses.

North America total revenue was negatively impacted by the divesture of: i) AllBusiness.com, Inc.; ii) Purisma Incorporated and iii) a small supply management company in the first half of 2012, all of which we reclassified as Divested and Other Businesses.

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Core revenue, which reflects total revenue less revenue from Divested and Other Businesses, increased $1.5 million, or less than 1% (1% increase before the effect of foreign exchange), for the nine months ended September 30, 2012 as compared to the nine months ended September 30, 2011. The increase in core revenue is primarily attributed to:

• Growth in our products (e.g., Optimizer) and increased previous commitments primarily related to growth in our Data as a Service or “DaaS” products (e.g., D&B 360); and

• An increase in revenue as a result of the acquisition of MicroMarketing, which we consolidated in the fourth quarter of 2011;

partially offset by:

• Lower revenue in North America from non-DNBi subscription products. Budget constraints have led customers to continue to reduce spend.

Customer Solution Sets

On a customer solution set basis, core revenue reflects:

• A $19.8 million, or 3% decrease (1% decrease before the effect of foreign exchange), in Risk Management Solutions. The decrease was driven by a decrease in revenue in North America of $21.3 million, or 4% (both before and after the effect of foreign exchange), and a decrease in revenue in Europe and Other International Markets of $2.7 million, or 2% (3% increase before the effect of foreign exchange), partially offset by an increase in revenue in Asia Pacific of $4.2 million, or 4% (6% increase before the effect of foreign exchange);

• A $20.6 million, or 7% increase (8% increase before the effect of foreign exchange), in Sales & Marketing Solutions. The increase was driven by an increase in revenue in North America of $14.2 million, or 6% (both before and after the effect of foreign exchange), and an increase in revenue in Asia Pacific of $7.1 million, or 53% (63% increase before the effect of foreign exchange), partially offset by a decrease in revenue in Europe and Other International Markets of $0.7 million, or 2% (1% increase before the effect of foreign exchange); and

• A $0.7 million, or 1% increase (both before and after the effect of foreign exchange), in Internet Solutions. The increase was driven by an increase in revenue in North America of $0.7 million, or 1% (both before and after the effect of foreign exchange), and an increase in revenue in Europe and Other International Markets of $0.2 million, or 9% (12% increase before the effect of foreign exchange), partially offset by a decrease in revenue in Asia Pacific of $0.2 million, or 12% (1% decrease before the effect of foreign exchange).

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Recent Developments

On March 18, 2012, we announced that we had temporarily suspended our Shanghai Roadway D&B Marketing Services Co Ltd. (“Roadway”) operations in China, pending an investigation into allegations that its data collection practices may violate local Chinese consumer data privacy laws. Thereafter, the Company decided to permanently cease the operations of Roadway. In addition, we have been reviewing certain allegations that we may have violated the Foreign Corrupt Practices Act and certain other laws in our China operations. As previously reported, we have voluntarily contacted the Securities and Exchange Commission and the United States Department of Justice to advise both agencies of our investigation. Our investigation remains ongoing and is being conducted at the direction of the Audit Committee.

For the nine months ended September 30, 2012, the Roadway business had $5.4 million of revenue and $14.5 million of operating loss. Additionally, during the nine months ended September 30, 2012, we have incurred $11.0 million of legal fees and other corporate shut-down costs and $1.8 million in local shut-down costs, as well as, an impairment charge of $12.9 million related to accounts receivable, intangible assets, prepaid costs and software for Roadway, an operation in our Greater China reporting unit. D&B acquired Roadway’s operations in 2009, and for 2011 Roadway accounted for approximately $22 million in revenue and $2 million in operating income.

On September 28, 2012, Roadway was charged in a Bill of Prosecution, along with five current or former employees, by the Shanghai District Prosecutor with illegally obtaining private information of Chinese citizens. A trial date has not yet been set. We have been advised that a conviction of Roadway and the five individuals is likely, and that a criminal fine will be imposed on Roadway. We are unable to provide a reasonable estimate of the fine at this time.

We performed a goodwill impairment assessment for the Greater China reporting unit during the first quarter of 2012. The assessment did not result in a goodwill impairment charge for the first quarter of 2012. The key assumptions factored in the goodwill impairment assessment were: recent operating results, economic projections, anticipated future revenue and cash flows and potential sanctions imposed by the Chinese government. The fair value of the Greater China reporting unit exceeded its carrying value by approximately 15%. Total goodwill associated with the reporting unit was $35.6 million at September 30, 2012. A 100 basis points increase or decrease in the revenue growth or discount rate assumption will have a 5% impact on the fair value of the Greater China reporting unit. See Note 7 to our unaudited consolidated financial statements included in this Quarterly Report on Form 10-Q for further discussion on this investigation.

We are presently unable to predict the duration, scope or result of the Audit Committee’s investigation, of any investigations by the SEC, or the DOJ, or any other US or foreign governmental authority, or whether any such authority will commence any legal action against us. The SEC and the DOJ have a broad range of civil and criminal sanctions available to them under the FCPA and other laws and regulations including, but not limited to, injunctive relief, disgorgement, fines, penalties, modifications to business practices, including the termination or modification of existing business relationships and the imposition of compliance programs and the retention of a monitor to oversee compliance with the FCPA. These investigations could ultimately result in penalties or other payments by us. In connection with the wind down of the Roadway operations, we believe we may incur additional cash expenditures for severance, lease payments, etc.

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Consolidated Operating Costs

The following table presents our consolidated operating costs and operating income for the three month and nine month periods ended September 30, 2012 and 2011:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2012		2011		2012		2011
	(Amounts in millions)				(Amounts in millions)
Operating Expenses	$	124.2	$	150.2	$	395.2	$	431.1
Selling and Administrative Expenses	154.5		162.6		448.2		470.4
Depreciation and Amortization	20.0		20.6		59.9		60.6
Restructuring Charge	4.8		5.3		23.2		18.0
Operating Costs	$	303.5	$	338.7	$	926.5	$	980.1
Operating Income	$	109.7	$	100.7	$	273.4	$	279.7

Operating Expenses

Three Months Ended September 30, 2012 vs. Three Months Ended September 30, 2011

Operating expenses decreased $26.0 million, or 17%, for the three months ended September 30, 2012, compared to the three months ended September 30, 2011. The decrease was primarily due to the following:

• Lower costs as a result of: a) the divestiture of i) the domestic portion of our Japanese operations to TSR; and ii) our market research business in China, consisting of two joint venture companies, and b) the shut-down of our Roadway operations; and

• Lower compensation costs (e.g., bonus and commissions).

Nine Months Ended September 30, 2012 vs. Nine Months Ended September 30, 2011

Operating expenses decreased $35.9 million, or 8%, for the nine months ended September 30, 2012, compared to the nine months ended September 30, 2011. The decrease was primarily due to the following:

• Lower costs as a result of: a) the divestiture of i) the domestic portion of our Japanese operations to TSR; and ii) our market research business in China, consisting of two joint venture companies, and b) the shut-down of our Roadway operations;

• Lower compensation costs (e.g., bonus and commissions); and

• The positive impact of foreign exchange;

partially offset by:

• Increased costs associated with our acquisition of MicroMarketing, which we consolidated in the fourth quarter of 2011;

• An impairment charge in China related to our Roadway operations (see “Recent Developments” discussed above and Note 7 to our unaudited consolidated financial statements in Item 1. of this Quarterly Report on Form 10-Q);

• Increased data costs; and

• Increased costs associated with our investments.

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Selling and Administrative Expenses

Three Months Ended September 30, 2012 vs. Three Months Ended September 30, 2011

Selling and administrative expenses decreased $8.1 million, or 5%, for the three months ended September 30, 2012, compared to the three months ended September 30, 2011. The decrease was primarily due to the following:

• Lower costs as a result of: a) the divestiture of i) the domestic portion of our Japanese operations to TSR; and ii) our market research business in China, consisting of two joint venture companies, and b) the shut-down of our Roadway operations; and

• The positive impact of foreign exchange;

partially offset by:

• Legal fees and other shut-down expenses associated with matters in China (see “Recent Developments” discussed above and Note 7 to our unaudited consolidated financial statements in Item 1. of this Quarterly Report on Form 10-Q).

Nine Months Ended September 30, 2012 vs. Nine Months Ended September 30, 2011

Selling and administrative expenses decreased $22.2 million, or 5%, for the nine months ended September 30, 2012, compared to the nine months ended September 30, 2011. The decrease was primarily due to the following:

• Lower costs as a result of: a) the divestiture of i) the domestic portion of our Japanese operations to TSR; and ii) our market research business in China, consisting of two joint venture companies, and b) the shut-down of our Roadway operations; and

• Lower compensation costs (e.g., bonus and commissions);

partially offset by:

• Legal fees and other shut-down expenses associated with matters in China (see “Recent Developments” discussed above and Note 7 to our unaudited consolidated financial statements in Item 1. of this Quarterly Report on Form 10-Q); and

• An impairment charge in China related to our Roadway operations (see “Recent Developments” discussed above and Note 7 to our unaudited consolidated financial statements in Item 1. of this Quarterly Report on Form 10-Q).

Matters Impacting Both Operating Expenses and Selling and Administrative Expenses

Pension, Postretirement and 401(k) Plan

We had net pension cost of $4.4 million and $13.2 million for the three month and nine month periods ended September 30, 2012, respectively, compared with $1.0 million and $5.8 million for the three month and nine month periods ended September 30 2011, respectively. Higher pension cost in 2012 was primarily driven by a lower expected return from plan assets related to our U.S. Qualified Plan. For 2012, we use an expected long-term rate of return of 7.75%, a 50 basis points decrease, compared to 8.25% used for 2011. Additionally, a lower expected return from plan assets is also due to a lower market-related value of plan assets, which increased our 2012 net pension cost. Higher actuarial losses amortization in 2012 is substantially offset by lower interest cost, whereby both are driven by a lower discount rate. The discount rate applied to our U.S. plans at January 1, 2012 is 4.05%, a 101 basis points decrease from the 5.06% discount rate used for 2011.

We had postretirement benefit income of $2.9 million and $8.3 million for the three month and nine month periods ended September 30, 2012, respectively. We had postretirement benefit income of $2.8 million and $8.2 million for the three month and nine month periods ended September 30, 2011, respectively.The postretirement benefit income was flat compared to prior year.

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We had expense associated with our 401(k) Plan of $1.8 million and $6.5 million for the three month and nine month periods ended September 30, 2012, respectively, compared with $1.7 million and $6.8 million for the three month and nine month periods ended September 30, 2011, respectively. The decrease in expense for the nine months ended September 30, 2012 compared to the nine months ended September 30, 2011 was due to the lower company match as a result of lower employee contributions which were driven by lower salary cost, bonus, overtime and commission payout and headcount. The employer maximum match was 50% of seven percent of a team member’s eligible compensation, subject to certain 401(k) Plan limitations.

Stock-Based Compensation

For the three month and nine month periods ended September 30, 2012, we recognized total stock-based compensation expense of $3.0 million and $8.8 million, compared to $3.2 million and $9.2 million for the three month and nine month periods ended September 30, 2011, respectively.

Expense associated with our stock option programs was $1.1 million and $3.1 million for the three month and nine month periods ended September 30, 2012, compared to $1.0 million and $3.0 million for the three month and nine month periods ended September 30, 2011.

Expense associated with restricted stock, restricted stock unit and restricted stock opportunity awards was $1.8 million and $5.2 million for the three month and nine month periods ended September 30, 2012, compared to $2.0 million and $5.5 million for the three month and nine month periods ended September 30, 2011. The decrease for the three month and nine month periods was primarily due to a decrease in the fair value of the awards issued over the past several years.

Expense associated with our Employee Stock Purchase Plan (“ESPP”) was $0.1 million and $0.5 million for the three month and nine month periods ended September 30, 2012, compared to $0.2 million and $0.7 million for the three month and nine month periods ended September 30, 2011, respectively.

We expect total equity-based compensation of approximately $11 million for 2012. We consider these costs to be part of our compensation costs and, therefore, they are included in operating expenses and in selling and administrative expenses, based upon the classifications of the underlying compensation costs.

Depreciation and Amortization

Depreciation and amortization decreased $0.6 million, or 3%, for the three months ended September 30, 2012 as compared to the three months ended September 30, 2011. This decrease was primarily driven by the shut-down of our Roadway operations and the divestiture of our market research business in China, consisting of two joint venture companies, partially offset by an increase in computer software amortization.

Depreciation and amortization decreased $0.7 million, or 1%, for the nine months ended September 30, 2012 as compared to the nine months ended September 30, 2011. This decrease was primarily driven by the shut-down of our Roadway operations and the divestiture of our market research business in China, consisting of two joint venture companies.

Restructuring Charge

Financial Flexibility is an ongoing process by which we seek to reallocate our spending from low-growth or low-value activities to other activities that will create greater value for shareholders through enhanced revenue growth, improved profitability and/or quality improvements. With most initiatives, we have incurred restructuring charges (which generally consist of employee severance and termination costs, contract terminations, and/or costs to terminate lease obligations less assumed sublease income). These charges are incurred as a result of eliminating, consolidating, standardizing and/or automating our business functions.

Restructuring charges have been recorded in accordance with Accounting Standards Codification (“ASC”) 712-10, “Nonretirement Postemployment Benefits,” or “ASC 712-10” and/or ASC 420-10, “Exit or Disposal Cost Obligations,” or “ASC 420-10,” as appropriate.

We record severance costs provided under an ongoing benefit arrangement once they are both probable and estimable in accordance with the provisions of ASC 712-10.

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We account for one-time termination benefits, contract terminations, and/or costs to terminate lease obligations less assumed sublease income in accordance with ASC 420-10, which addresses financial accounting and reporting for costs associated with restructuring activities. Under ASC 420-10, we establish a liability for cost associated with an exit or disposal activity, including severance and lease termination obligations, and other related costs, when the liability is incurred, rather than at the date that we commit to an exit plan. We reassess the expected cost to complete the exit or disposal activities at the end of each reporting period and adjust our remaining estimated liabilities, if necessary.

The determination of when we accrue for severance costs and which standard applies depends on whether the termination benefits are provided under an ongoing arrangement as described in ASC 712-10 or under a one-time benefit arrangement as defined by ASC 420-10. Inherent in the estimation of the costs related to the restructurings are assessments related to the most likely expected outcome of the significant actions to accomplish the exit activities. In determining the charges related to the restructurings, we had to make estimates related to the expenses associated with the restructurings. These estimates may vary significantly from actual costs depending, in part, upon factors that may be beyond our control. We will continue to review the status of our restructuring obligations on a quarterly basis and, if appropriate, record changes to these obligations in current operations based on management’s most current estimates.

Three Months Ended September 30, 2012 vs. Three Months Ended September 30, 2011

During the three months ended September 30, 2012, we recorded a $4.8 million restructuring charge. The significant components of these charges included:

• Severance and termination costs of $1.6 million in accordance with the provisions of ASC 712-10 were recorded. Approximately 50 employees were impacted. Of these 50 employees, approximately 35 employees exited the Company in the third quarter of 2012, with the remaining to exit in the fourth quarter of 2012. The cash payments for these employees will be substantially completed by the second quarter of 2013; and

• Lease termination obligations, other costs to consolidate or close facilities and other exit costs of $3.2 million.

During the three months ended September 30, 2011, we recorded a $5.3 million restructuring charge. The significant components of these charges included:

• Severance and termination costs of $4.6 million in accordance with the provisions of ASC 712-10 were recorded. Approximately 100 employees were impacted. Of these 100 employees, approximately 90 employees exited the Company in the third quarter of 2011, with the remaining having exited in the first quarter of 2012. The cash payments for these employees were substantially completed by the second quarter of 2012; and

• Lease termination obligations, other costs to consolidate or close facilities and other exit costs of $0.7 million.

Nine Months Ended September 30, 2012 vs. Nine Months Ended September 30, 2011

During the nine months ended September 30, 2012, we recorded a $23.2 million restructuring charge. The significant components of these charges included:

• Severance and termination costs of $12.8 million and $4.7 million in accordance with the provisions of ASC 712-10 and ASC 420-10, respectively, were recorded. Approximately 670 employees were impacted. Of these 670 employees, approximately 655 employees exited the Company in the third quarter of 2012, with the remaining to exit in the fourth quarter of 2012. The cash payments for these employees will be substantially completed by the second quarter of 2013; and

• Lease termination obligations, other costs to consolidate or close facilities and other exit costs of $5.7 million.

During the nine months ended September 30, 2011, we recorded an $18.0 million restructuring charge. The significant components of these charges included:

• Severance and termination costs of $14.2 million in accordance with the provisions of ASC 712-10 were recorded. Approximately 305 employees were impacted. Of these 305 employees, approximately 280 employees exited the Company by the conclusion of the third quarter of 2011, with the remaining having exited by the first quarter of 2012. The cash payments for these employees were substantially completed by the second quarter of 2012; and

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• Lease termination obligations, other costs to consolidate or close facilities and other exit costs of $3.8 million.

Interest Income (Expense) — Net

The following table presents our “Interest Income (Expense) – Net” for the three month and nine month periods ended September 30, 2012 and 2011:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2012			2011			2012			2011
	(Amounts in millions)						(Amounts in millions)
Interest Income	$	0.2		$	0.4		$	0.5		$	1.3
Interest Expense	(9.5		)	(9.1		)	(27.8		)	(27.4		)
Interest Income (Expense) - Net	$	(9.3	)	$	(8.7	)	$	(27.3	)	$	(26.1	)

Interest income decreased $0.2 million, or 52%, for the three months ended September 30, 2012 as compared to the three months ended September 30, 2011. Interest income decreased $0.8 million, or 60%, for the nine months ended September 30, 2012 as compared to the nine months ended September 30, 2011. The decrease in interest income for the three month and nine month periods ended September 30, 2012 is primarily attributable to lower average interest rates.

Interest expense increased $0.4 million, or 4%, for the three months ended September 30, 2012 as compared to the three months ended September 30, 2011. The increase in interest expense is primarily attributable to higher amounts of average debt outstanding. Interest expense increased $0.4 million, or 1%, for the nine months ended September 30, 2012 as compared to the nine months ended September 30, 2011. The increase is primarily attributable to higher average interest rates.

Other Income (Expense) — Net

The following table presents our “Other Income (Expense) — Net” for the three month and nine month periods ended September 30, 2012 and 2011:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2012			2011			2012			2011
	(Amounts in millions)						(Amounts in millions)
Effect of Legacy Tax Matters(a)	$	(15.4	)	$	0.3		$	(15.0	)	$	(7.4	)
Gain on Sale of Businesses(b)	—			—			6.0			—
Loss on Investment(c)	—			(8.3		)	—			(11.4		)
Miscellaneous Other Income (Expense) - Net(d)	—			(0.9		)	0.2			(1.7		)
Other Income (Expense) - Net	$	(15.4	)	$	(8.9	)	$	(8.8	)	$	(20.5	)

(a) During the three month and nine month periods ended September 30, 2012, we recognized the reduction of a contractual receipt under the Tax Allocation Agreement between Moody's Corporation and D&B as it relates to the expiration of the statute of limitations for the tax years 2005 and 2006. During the nine months ended September 30, 2011, we recognized the reduction of a contractual receipt under the Tax Allocation Agreement between Moody’s Corporation and D&B as it relates to the expiration of the statute of limitations for the tax year 2004.

(b) During the nine months ended September 30, 2012, we recognized gains primarily related to the sale of the domestic portion of our Japanese operations to TSR and our market research business in China, consisting of two joint venture companies. See Note 13 to our unaudited consolidated financial statements in Item 1. of this Quarterly Report on Form 10-Q.

(c) During the three month and nine month periods ended September 30, 2011, we recorded an impairment charge related to a 2008 investment in a research and development data firm as a result of its financial condition and our focus on MaxCV.

(d) Miscellaneous Other Income (Expense) – Net increased for the three months ended September 30, 2012 compared to the three months ended September 30, 2011, primarily due to a decrease in bank fees. Miscellaneous Other Income (Expense) – Net increased for the nine months ended September 30, 2012 compared to the nine months ended September 30, 2011, primarily due to foreign exchange.

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Provision for Income Taxes

For the three months ended September 30, 2012, our effective tax rate was 5.6% as compared to 29.7% for the three months ended September 30, 2011. The 2012 effective tax rate was positively impacted by the release of reserves for uncertain tax positions primarily due to the effective settlement of an audit for the tax years 2005 and 2006.The effective tax rate for the three months ended September 30, 2011 was positively impacted by a tax benefit on a loss on the tax basis of a legal entity and negatively impacted by the tax impact of a loss on an investment. For the three months ended September 30, 2012, there are no changes in our effective tax rate that either have had or that we expect may reasonably have a material impact on our operations or future performance.

For the nine months ended September 30, 2012, our effective tax rate was 15.7% as compared to 29.3% for the nine months ended September 30, 2011. The effective tax rate for the nine months ended September 30, 2012, as compared to the nine months ended September 30, 2011 was positively impacted by the release of reserves for uncertain tax positions due to the effective settlement of an audit for the tax years 2005 and 2006, by a tax benefit on a loss on the tax basis of a legal entity and by tax benefits from the divestiture of the domestic portion of our Japan operations and negatively impacted by an impairment related to permanently ceasing operations of Roadway in China. The effective tax rate for the nine months ended September 30, 2011 was positively impacted by the release of reserves for uncertain tax positions due to the expiration of a statute of limitations for the tax year 2004 and by a tax benefit on a loss on the tax basis of a legal entity and negatively impacted by a reduction of our deferred tax assets resulting from an enacted change to the state of New Jersey's tax law during the second quarter of 2011 and the tax impact of a loss on an investment. For the nine months ended September 30, 2012, there are no changes in our effective tax rate that either have had or that we expect may reasonably have a material impact on our operations or future performance.

The total amount of gross unrecognized tax benefits as of September 30, 2012 was $100.0 million. The amount of unrecognized tax benefits that, if recognized, would impact the effective tax rate is $93.9 million, net of tax benefits. During the three months ended September 30, 2012, we decreased our unrecognized tax benefits by $24.9 million, net of increases. The decrease is primarily related to the effective settlement of an audit for the tax years 2005 and 2006. During the nine months ended September 30, 2012, we decreased our unrecognized tax benefits by approximately $20.1 million, net of increases, primarily related to the effective settlement of an audit for the tax years 2005 and 2006. We anticipate that it is reasonably possible total unrecognized tax benefits will decrease by approximately $59 million within the next twelve months as a result of the expiration of applicable statutes of limitation.

We recognize accrued interest expense related to unrecognized tax benefits in income tax expense. The total amount of interest expense recognized in the three month and nine month periods ended September 30, 2012 was $1.2 million and $2.5 million, net of tax benefits, respectively, as compared to $0.9 million and $2.6 million, net of tax benefits in the three month and nine month periods ended September 30, 2011, respectively. The total amount of accrued interest as of September 30, 2012 was $8.2 million, net of tax benefits, as compared to $11.0 million, net of tax benefits, as of September 30, 2011.

We or one of our subsidiaries file income tax returns in the U.S. Federal, and various state, local and foreign jurisdictions. In the U.S. Federal jurisdiction, we are no longer subject to examination by the IRS for years prior to 2007. In state and local jurisdictions, with a few exceptions, we are no longer subject to examinations by tax authorities for years prior to 2008. In foreign jurisdictions, with a few exceptions, we are no longer subject to examinations by tax authorities for years prior to 2007.

We have resolved the 2005 and 2006 tax years with IRS Appeals regarding the proposed Domestic Production Deduction Adjustments. As a result of our agreement, there were no changes in our tax liability for 2005 and 2006. The IRS is examining our 2007, 2008 and 2009 tax years. We expect the examination will be completed in the fourth quarter of 2013.

Earnings per Share

In accordance with the authoritative guidance in ASC 260-10, we are required to assess if any of our share-based payment transactions are deemed participating securities prior to vesting and therefore need to be included in the earnings allocation when computing EPS under the two-class method. The two-class method requires earnings to be allocated between common shareholders and holders of participating securities. All outstanding unvested share-based payment awards that contain non-forfeitable rights to dividends are considered to be a separate class of common stock and should be included in the calculation of basic and diluted EPS. Based on a review of our stock-based awards, we have determined that only our restricted stock awards are deemed participating securities. The weighted average restricted shares outstanding were 8,050 shares and 55,718 shares for the three months ended September 30, 2012 and 2011, respectively. The weighted average restricted shares outstanding were 15,543 shares and 74,908 shares for the nine months ended September 30, 2012 and 2011, respectively.

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The following table sets forth our EPS for the three month and nine month periods ended September 30, 2012 and 2011:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2012		2011		2012		2011
Basic Earnings Per Share of Common Stock Attributable to D&B Common Shareholders	$	1.77	$	1.19	$	4.29	$	3.38
Diluted Earnings Per Share of Common Stock Attributable to D&B Common Shareholders	$	1.76	$	1.19	$	4.26	$	3.36

For the three months ended September 30, 2012, basic EPS attributable to D&B common shareholders increased 49%, compared with the three months ended September 30, 2011, due to an increase of 36% in Net Income Attributable to D&B common shareholders and an 8% reduction in the weighted average number of basic shares outstanding resulting from our total share repurchases. For the three months ended September 30, 2012, diluted EPS attributable to D&B common shareholders increased 48%, compared with the three months ended September 30, 2011, due to an increase of 36% in Net Income Attributable to D&B common shareholders and an 8% reduction in the weighted average number of diluted shares outstanding resulting from our total share repurchases.

For the nine months ended September 30, 2012, basic and diluted EPS attributable to D&B common shareholders increased 27%, compared with the nine months ended September 30, 2011, due to an increase of 20% in Net Income Attributable to D&B common shareholders and a 6% reduction in the weighted average number of basic and diluted shares outstanding resulting from our total share repurchases.

Segment Results

Simultaneously with the sale of the domestic portion of our Japanese operations to Tokyo Shoko Research Ltd., we entered into a ten-year commercial arrangement to provide TSR with global data for its Japanese competitors and became the exclusive distributor of TSR data to the Worldwide Network. We continue to manage our business through three segments. However, as of January 1, 2012, our Asia Pacific Worldwide Network has been moved out of our Europe and Other International Markets segment and into our Asia Pacific segment.

On January 1, 2012, we began managing our business through the following three segments (all prior periods have been reclassified to reflect the new segment structure):

• North America (which consists of our operations in the U.S. and Canada);

• Asia Pacific (which primarily consists of our operations in Australia, China, India and Asia Pacific Worldwide Network); and

• Europe and Other International Markets (which primarily consists of our operations in the UK, Netherlands, Belgium, Latin America and European Worldwide Network).

Prior to January 1, 2012, we managed and reported our business globally through the following three segments:

• North America (which consisted of our operations in the U.S. and Canada);

• Asia Pacific (which primarily consisted of our operations in Australia, Japan, China and India); and

• Europe and Other International Markets (which primarily consisted of our operations in the UK, Netherlands, Belgium, Latin America and the Worldwide Network).

North America

North America is our largest segment representing 75% and 73% of our total revenue for the three month and nine month periods ended September 30, 2012, respectively, compared to 70% of our total revenue for the three month and nine month periods ended September 30, 2011, respectively.

During the nine months ended September 30, 2012, we completed the sale of: i) AllBusiness.com, Inc.; ii) Purisma Incorporated; and iii) a small supply management company. These businesses have been classified as “Divested and Other Businesses.” These Divested and Other Businesses contributed 1% to our North America total revenue for the three month and

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nine month periods ended September 30, 2011, respectively. See Note 10 and Note 13 to our unaudited consolidated financial statements included in Item 1. of this Quarterly Report on Form 10-Q for further detail.

North America represented 75% and 74% of our core revenue for the three month and nine month periods ended September 30, 2012, respectively, compared to 74% and 75% of our core revenue for the three month and nine month periods ended September 30, 2011, respectively.

The following table presents our North America revenue by customer solution set and North America operating income for the three month and nine month periods ended September 30, 2012 and 2011.

Additionally, this table reconciles the non-GAAP measure of core revenue to the GAAP measure of total revenue:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2012		2011		2012		2011
	(Amounts in millions)				(Amounts in millions)
Revenue:
Risk Management Solutions	$	178.8	$	183.5	$	518.5	$	539.8
Sales & Marketing Solutions	100.5		91.6		267.3		253.1
Internet Solutions	29.0		29.6		87.0		86.3
North America Core Revenue	308.3		304.7		872.8		879.2
Divested and Other Businesses	—		2.3		—		7.3
North America Total Revenue	$	308.3	$	307.0	$	872.8	$	886.5
Operating Income	$	117.3	$	112.1	$	323.0	$	324.0

Three Months Ended September 30, 2012 vs. Three Months Ended September 30, 2011

North America Overview

North America total revenue increased $1.3 million, or less than 1% (1% increase before the effect of foreign exchange), for the three months ended September 30, 2012 as compared to the three months ended September 30, 2011. North America total revenue was negatively impacted by the divestiture of i) AllBusiness.com, Inc.; ii) Purisma Incorporated; and iii) a small supply management company in the first half of 2012, all of which we reclassified as Divested and Other Businesses. Excluding the impact of the Divested and Other Businesses, core revenue increased $3.6 million, or 1% (both before and after the effect of foreign exchange).

North America Customer Solution Sets

On a customer solution set basis, the $3.6 million increase in core revenue for the three months ended September 30, 2012, as compared to the three months ended September 30, 2011, reflects:

Risk Management Solutions

A decrease in Risk Management Solutions of $4.7 million, or 3% (2% decrease before the effect of foreign exchange) primarily due to:

• Lower revenue from non-DNBi subscription products. Budget constraints have led customers to continue to reduce spend; and

• DNBi subscription plans were down due to a decline in DNBi modules. With the exception of DNBi PRM, we have not upgraded our modules in the last few years. DNBi modules are products that provide additional functionality to the core DNBi platform and spending on these products can be discretionary. With budgets under pressure, some customers are choosing to stay with the core DNBi product to handle their risk management needs, putting pressure on our module sales;

partially offset by:

• The timing of a renewal of a large government contract that last year signed in the fourth quarter.

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Traditional Risk Management Solutions, which accounted for 68% of total North America Risk Management Solutions, decreased 2% (both before and after the effect of foreign exchange). The decrease was primarily due to:

• Lower revenue from non-DNBi subscription products as customers continue to manage their spend in the current economic climate;

partially offset by:

• Year-over-year growth in our core DNBi subscription plans that excludes modules (see Value-Added Risk Management Solutions below for further discussion) enabled by our DNBi platform. The increase in core DNBi was driven by continued high retention, increased dollar spend from our existing customers and new product releases. We continue to see mid-single digit price increases with these customers when they renew these subscription plans.

Value-Added Risk Management Solutions, which accounted for 24% of total North America Risk Management Solutions, increased 1% (both before and after the effect of foreign exchange). The increase was primarily due to:

• The timing of a renewal of a large government contract that last year signed in the fourth quarter; and

• Increased spend and usage by existing customers of our transactional products;

partially offset by:

• A shift in product mix from our Value-Added Risk Management Solutions to our Value-Added Sales & Marketing Solutions; and

• Lower purchases from existing customers of DNBi modules enabled by our DNBi platform, as customers’ budgets were more focused towards our core DNBi products.DNBi modules are products that provide additional functionality to the core DNBi platform and spending on these products can be discretionary. With budgets under pressure, some customers are choosing to stay with the core DNBi product to handle their risk management needs, putting pressure on our module sales.

Supply Management Solutions, which accounted for 8% of total North America Risk Management Solutions, decreased 14% (both before and after the effect of foreign exchange), due to a shift in product mix to our Value-Added Sales & Marketing Solutions.

Sales & Marketing Solutions

An increase in Sales & Marketing Solutions of $8.9 million, or 10% (both before and after the effect of foreign exchange) primarily due to strong performance from our Value-Added products partially offset by a decline in Traditional Sales & Marketing Solutions.

Traditional Sales & Marketing Solutions, which accounted for 26% of total North America Sales & Marketing Solutions, decreased 4% (both before and after the effect of foreign exchange). The decrease was primarily due to:

• The timing impact of entering into a commercial arrangement with a third party whereby certain products will be provided under a licensing agreement; and

• Our decision to stop selling certain legacy products;

partially offset by:

• Increased spend with existing customers.

Value-Added Sales & Marketing Solutions, which accounted for 74% of total North America Sales & Marketing Solutions, increased 16% (both before and after the effect of foreign exchange). The increase was primarily due to:

• Growth in our products (e.g., Optimizer) and increased previous commitments primarily related to growth in our Data as a Service or “DaaS” products (e.g., D&B 360); and

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• A shift in product mix from our Value-Added Risk Management Solutions to our Value-Added Sales & Marketing Solutions;

partially offset by:

• A one-time benefit in the prior year due to revenue recognition on the existing customer set and the allocation of revenue in new arrangements using the best estimated selling price.

Internet Solutions

A decrease in Internet Solutions of $0.6 million, or 3% (both before and after the effect of foreign exchange) as a result of decreased advertising revenue, tight customer spending and competitive pressures. Most of the revenue is subscription based so we expect this trend to continue.

North America Operating Income

North America operating income for the three months ended September 30, 2012 was $117.3 million, compared to $112.1 million for the three months ended September 30, 2011, an increase of $5.2 million, or 5%. The increase in operating income was primarily attributable to:

• Lower compensation costs (e.g., bonus and commissions), professional fees and advertising expenses; and

• An increase in total revenue;

partially offset by:

• Increased costs associated with our investments in the business (e.g., technology, data and sales training).

Nine Months Ended September 30, 2012 vs. Nine Months Ended September 30, 2011

North America Overview

North America total revenue decreased $13.7 million, or 2% (both before and after the effect of foreign exchange), for the nine months ended September 30, 2012 as compared to the nine months ended September 30, 2011. North America total revenue was negatively impacted by the divestiture of: i) AllBusiness.com, Inc.; ii) Purisma Incorporated; and iii) a small supply management company in the first half of 2012, all of which we reclassified as Divested and Other Businesses. Excluding the impact of the Divested and Other Businesses, core revenue decreased $6.4 million, or 1% (both before and after the effect of foreign exchange).

North America Customer Solution Sets

On a customer solution set basis, the $6.4 million decrease in core revenue for the nine months ended September 30, 2012, as compared to the nine months ended September 30, 2011, reflects:

Risk Management Solutions

A decrease in Risk Management Solutions of $21.3 million, or 4% (both before and after the effect of foreign exchange) primarily due to:

• Lower revenue from non-DNBi subscription products. Budget constraints have led customers to continue to reduce spend; and

• A shift in product mix from our Value-Added Risk Management Solutions to our Value-Added Sales & Marketing Solutions.

Traditional Risk Management Solutions, which accounted for 70% of total North America Risk Management Solutions, decreased 3% (both before and after the effect of foreign exchange). The decrease was primarily due to:

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• Lower revenue from non-DNBi subscription products as customers continue to manage their spend in the current economic climate;

partially offset by:

• Year-over-year growth in our core DNBi subscription plans that excludes modules (see Value-Added Risk Management Solutions below for further discussion) enabled by our DNBi platform. The increase in core DNBi was driven by continued high retention, increased dollar spend from our existing customers and new product releases. We continue to see mid-single digit price increases with these customers when they renew these subscription plans.

Value-Added Risk Management Solutions, which accounted for 22% of total North America Risk Management Solutions, decreased 6% (both before and after the effect of foreign exchange). The decrease was primarily due to:

• A shift in product mix from our Value-Added Risk Management Solutions to our Value-Added Sales & Marketing Solutions;

• Lower purchases from existing customers of modules enabled by our DNBi platform, as customers’ budgets were more focused towards our core DNBi products.DNBi modules are products that provide additional functionality to the core DNBi platform and spending on these products can be discretionary. With budgets under pressure, some customers are choosing to stay with the core DNBi product to handle their risk management needs, putting pressure on our module sales; and

• A one-time benefit in the prior year due to revenue recognition on the existing customer set and the allocation of revenue in new arrangements using the best estimated selling price;

partially offset by:

• The timing of a renewal of a large government contract that last year signed in the fourth quarter; and

• Increased spend and usage by existing customers of our transactional products.

Supply Management Solutions, which accounted for 8% of total North America Risk Management Solutions, decreased 9% (both before and after the effect of foreign exchange), on a small base.

Sales & Marketing Solutions

An increase in Sales & Marketing Solutions of $14.2 million, or 6% (both before and after the effect of foreign exchange) primarily due to strong performance from our Value-Added products partially offset by a decline in Traditional Sales & Marketing Solutions.

Traditional Sales & Marketing Solutions, which accounted for 24% of total North America Sales & Marketing Solutions, decreased 11% (both before and after the effect of foreign exchange). The decrease was primarily due to:

• Our decision to stop selling certain legacy products and convert the existing customer base as well as new prospects to Hoover’s solutions; and

• Decreased purchases from certain customers due to economic and budgetary pressures particularly in our education marketing business.

partially offset by:

• Increased spend with existing customers.

Value-Added Sales & Marketing Solutions, which accounted for 76% of total North America Sales & Marketing Solutions, increased 12% (both before and after the effect of foreign exchange). The increase was primarily due to:

• Growth in our products (e.g., Optimizer) and increased previous commitments primarily related to growth in our Data as a Service or “DaaS” products (e.g., D&B 360); and

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• A shift in product mix from our Value-Added Risk Management Solutions to our Value-Added Sales & Marketing Solutions;

partially offset by:

• A one-time benefit in the prior year due to revenue recognition on the existing customer set and the allocation of revenue in new arrangements using the best estimated selling price.

Internet Solutions

An increase in Internet Solutions of $0.7 million, or 1% (both before and after the effect of foreign exchange) as a result of migration by certain customers from Traditional Sales & Marketing Solutions as customers see our improved value proposition and innovation, partially offset by decreased advertising revenue, tight customer spending and competitive pressures.

North America Operating Income

North America operating income for the nine months ended September 30, 2012 was $323.0 million, compared to $324.0 million for the nine months ended September 30, 2011, a decrease of $1.0 million, or less than 1%. The decrease in operating income was primarily attributable to:

• A decrease in total revenue; and

• Increased costs associated with our investments (e.g., data and product innovation) and marketing efforts;

partially offset by:

• Lower compensation costs (e.g., bonus and commissions).

Asia Pacific

Asia Pacific represented 11% and 12% of our total revenue for the three month and nine month periods ended September 30, 2012, respectively, as compared to 16% of our total revenue for the three month and nine month periods ended September 30, 2011, respectively.

During the first quarter of 2012, we completed the sale of: i) the domestic portion of our Japanese operations to TSR; and ii) our market research business in China, consisting of two joint venture companies. These businesses have been classified as “Divested and Other Businesses.”

During the second quarter of 2012, we permanently ceased our Roadway operations in China, pending an investigation into allegations that its data collection practices may violate local Chinese consumer data privacy laws. In addition, we have been reviewing certain allegations that we may have violated the FCPA and certain other laws in our China operations. We have voluntarily contacted the SEC and the DOJ to advise both agencies of our investigation. Our investigation remains ongoing and is being conducted at the direction of the Audit Committee. This business has been classified as a “Divested and Other Businesses.”

These Divested and Other Businesses contributed 38% to our Asia Pacific total revenue for the three months ended September 30, 2011. These Divested and Other Businesses contributed 12% and 37% to our Asia Pacific total revenue for the nine months ended September 30, 2012 and 2011, respectively. See Note 10 and Note 13 to our unaudited consolidated financial statements included in Item 1. of this Quarterly Report on Form 10-Q for further detail.

Asia Pacific represented 11% of our core revenue for the three month and nine month periods ended September 30, 2012, respectively, as compared to 11% and 10% of our core revenue for the three month and nine month periods ended September 30, 2011, respectively.

The following table presents our Asia Pacific revenue by customer solution set and Asia Pacific operating income for the three month and nine month periods ended September 30, 2012 and 2011.

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	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2012		2011		2012			2011
	(Amounts in millions)				(Amounts in millions)
Revenue:
Risk Management Solutions	$	38.1	$	38.9	$	112.2		$	108.0
Sales & Marketing Solutions	6.5		4.1		20.5			13.4
Internet Solutions	0.2		0.2		0.5			0.7
Asia Pacific Core Revenue	44.8		43.2		133.2			122.1
Divested and Other Businesses	—		26.3		18.1			72.2
Asia Pacific Total Revenue	$	44.8	$	69.5	$	151.3		$	194.3
Operating Income (Loss)	$	5.1	$	5.0	$	(0.4	)	$	10.7

Three Months Ended September 30, 2012 vs. Three Months Ended September 30, 2011

Asia Pacific Overview

Asia Pacific total revenue decreased $24.7 million, or 36% (34% decrease before the effect of foreign exchange), for the three months ended September 30, 2012 as compared to the three months ended September 30, 2011.

Asia Pacific total revenue was negatively impacted by a) the divestiture of: i) the domestic portion of our Japanese operations to TSR; and ii) our market research business in China, consisting of two joint venture companies; and b) the shut-down of our Roadway operations, in the first quarter of 2012, all of which we reclassified as Divested and Other Businesses.

Asia Pacific total revenue was positively impacted by the acquisition of MicroMarketing which contributed six percentage points of growth before the impact of foreign exchange to total Asia Pacific revenue growth during the three months ended September 30, 2012.

Excluding the impact of the Divested and Other Businesses, core revenue increased $1.6 million, or 4% (9% increase before the effect of foreign exchange) for the three months ended September 30, 2012.

Asia Pacific Customer Solution Sets

On a customer solution set basis, the $1.6 million increase in Asia Pacific core revenue for the three months ended September 30, 2012, as compared to the three months ended September 30, 2011, reflects:

Risk Management Solutions

A decrease in Risk Management Solutions of $0.8 million, or 2% (3% increase before the effect of foreign exchange) primarily due to:

• The negative impact of foreign exchange; and

• Decreased revenue resulting from regulatory changes in China in the second quarter of 2012 which restricted our access to Chinese company financial statements;

partially offset by:

• Increased revenue from our commercial agreement to provide TSR with global data for its Japanese customers and to distribute TSR data to the Worldwide Network.

Traditional Risk Management Solutions, which accounted for 91% of Asia Pacific Risk Management Solutions, decreased 5% (1% decrease before the effect of foreign exchange). This decrease was primarily due to:

• The negative impact of foreign exchange; and

• Decreased revenue resulting from regulatory changes in China in the second quarter of 2012 which restricted our access to Chinese company financial statements;

partially offset by:

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• Increased collections revenue in our Australia market primarily due to economic recovery from the prior year’s natural disasters which slowed-down collection activity in 2011.

Value-Added Risk Management Solutions, which accounted for 9% of Asia Pacific Risk Management Solutions, increased 46% (48% increase before the effect of foreign exchange), primarily due to increased revenue from our commercial agreement to provide TSR with global data for its Japanese customers and to distribute TSR data to the Worldwide Network.

Sales & Marketing Solutions

An increase in Sales & Marketing Solutions of $2.4 million, or 58% (73% increase before the effect of foreign exchange) primarily due to increased revenue as a result of the acquisition of MicroMarketing, which we consolidated in the fourth quarter of 2011.

Traditional Sales & Marketing Solutions, which accounted for 63% of Asia Pacific Sales & Marketing Solutions, increased 47% (66% increase before the effect of foreign exchange). This increase was primarily due to increased revenue as a result of the acquisition of MicroMarketing, which we consolidated in the fourth quarter of 2011.

Value-Added Sales & Marketing Solutions, which accounted for 37% of Asia Pacific Sales & Marketing Solutions, increased 80% (87% increase before the effect of foreign exchange). This increase was primarily due to increased revenue as a result of the acquisition of MicroMarketing, which we consolidated in the fourth quarter of 2011.

Internet Solutions

Internet Solutions remained flat compared to prior year.

Asia Pacific Operating Income –

Asia Pacific operating income for the three months ended September 30, 2012 was $5.1 million, compared to operating income of $5.0 million for the three months ended September 30, 2011, an increase of $0.1 million, or 1%. The increase was primarily due to:

• Lower costs as a result of our reengineering efforts; and

• The net impact of the sale of the domestic portion of our Japanese operations to TSR and our ten-year commercial agreement with TSR to provide global data for its Japanese competitors;

partially offset by:

• The loss of operating income as a result of the sale of our market research business in China and the shut-down of our Roadway operations.

Nine Months Ended September 30, 2012 vs. Nine Months Ended September 30, 2011

Asia Pacific Overview

Asia Pacific total revenue decreased $43.0 million, or 22% (both before and after the effect of foreign exchange), for the nine months ended September 30, 2012 as compared to the nine months ended September 30, 2011.

Asia Pacific total revenue was negatively impacted by a) the divestiture of: i) the domestic portion of our Japanese operations to TSR; and ii) our market research business in China, consisting of two joint venture companies; and b) the shut-down of our Roadway operations, in the first quarter of 2012, all of which we reclassified as Divested and Other Businesses.

Asia Pacific total revenue was positively impacted by the acquisition of MicroMarketing, which contributed seven percentage points of growth, before the impact of foreign exchange, to total Asia Pacific revenue growth, during the nine months ended September 30, 2012.

Excluding the impact of the Divested and Other Businesses, core revenue increased $11.1 million, or 9% (12% increase before the effect of foreign exchange) for the nine months ended September 30, 2012.

Asia Pacific Customer Solution Sets

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On a customer solution set basis, the $11.1 million increase in Asia Pacific core revenue for the nine months ended September 30, 2012, as compared to the nine months ended September 30, 2011, reflects:

Risk Management Solutions

An increase in Risk Management Solutions of $4.2 million, or 4% (6% increase before the effect of foreign exchange) primarily due to:

• Increased collections revenue in our Australia market, primarily due to economic recovery from the prior year’s natural disasters, which slowed-down collection activity in 2011; and

• Increased revenue from our commercial agreement to provide TSR with global data for its Japanese customers, and to distribute TSR data to the Worldwide Network;

partially offset by:

• Decreased revenue resulting from regulatory changes in China in the second quarter of 2012 which restricted our access to Chinese company financial statements; and

• The negative impact of foreign exchange.

Traditional Risk Management Solutions, which accounted for 90% of Asia Pacific Risk Management Solutions, increased 3% (5% increase before the effect of foreign exchange). This increase was primarily due to:

• Increased collections revenue in our Australia market, primarily due to economic recovery from the prior year’s natural disasters, which slowed-down collection activity in 2011; and

• Increased revenue from our commercial agreement to provide TSR with global data for its Japanese customers, and to distribute TSR data to the Worldwide Network;

partially offset by:

• Decreased revenue resulting from changes in China in the second quarter of 2012 which restricted our access to Chinese company financial statements; and

• The negative impact of foreign exchange.

Value-Added Risk Management Solutions, which accounted for 10% of Asia Pacific Risk Management Solutions, increased 15% (both before and after the effect of foreign exchange). This increase was primarily due to increased revenue from our commercial agreement to provide TSR with global data for its Japanese customers, and to distribute TSR data to the Worldwide Network.

Sales & Marketing Solutions

An increase in Sales & Marketing Solutions of $7.1 million, or 53% (63% increase before the effect of foreign exchange) primarily due to increased revenue as a result of the acquisition of MicroMarketing, which we consolidated in the fourth quarter of 2011.

Traditional Sales & Marketing Solutions, which accounted for 66% of Asia Pacific Sales & Marketing Solutions, increased 37% (49% increase before the effect of foreign exchange). This increase was primarily due to increased revenue as a result of the acquisition of MicroMarketing, which we consolidated in the fourth quarter of 2011.

Value-Added Sales & Marketing Solutions, which accounted for 34% of Asia Pacific Sales & Marketing Solutions, increased 96% (100% increase before the effect of foreign exchange). This increase was primarily due to increased revenue as a result of the acquisition of MicroMarketing, which we consolidated in the fourth quarter of 2011.

Internet Solutions

Internet Solutions decreased $0.2 million, or 12% (1% decrease before the effect of foreign exchange), on a small base.

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Asia Pacific Operating Income –

Asia Pacific operating loss for the nine months ended September 30, 2012 was $0.4 million, compared to operating income of $10.7 million for the nine months ended September 30, 2011, a decrease of $11.1 million. The decrease was primarily due to:

• An impairment charge in China related to our Roadway operations (see “Recent Developments” discussed above);

partially offset by:

• Lower costs as a result of our reengineering efforts.

Europe and Other International Markets

Europe and Other International Markets represented 14% and 15% of our total revenue for the three month and nine month periods ended September 30, 2012, respectively, as compared to 14% of our total revenue for the three month and nine month periods ended September 30, 2011, respectively.

Europe and Other International Markets represented 14% and 15% of our core revenue for the three month and nine month periods ended September 30, 2012, respectively, as compared to 15% of our core revenue for the three month and nine month periods ended September 30, 2011, respectively.

There were no divestitures within this segment during the three month or nine month periods ended September 30, 2012 and 2011. The following table presents our Europe and Other International Markets revenue by customer solution set and Europe and Other International Markets operating income for the three month and nine month periods ended September 30, 2012 and 2011:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2012		2011		2012		2011
	(Amounts in millions)				(Amounts in millions)
Revenue:
Risk Management Solutions	$	48.9	$	50.6	$	145.1	$	147.8
Sales & Marketing Solutions	10.5		11.6		28.7		29.4
Internet Solutions	0.7		0.7		2.0		1.8
Europe and Other International Markets Total and Core Revenue	$	60.1	$	62.9	$	175.8	$	179.0
Operating Income	$	17.3	$	15.4	$	46.1	$	36.2

Three Months Ended September 30, 2012 vs. Three Months Ended September 30, 2011

Europe and Other International Markets Overview

Europe and Other International Markets total and core revenue decreased $2.8 million, or 4% (3% increase before the effect of foreign exchange), for the three months ended September 30, 2012 as compared to the three months ended September 30, 2011.

Europe and Other International Markets Customer Solution Sets

On a customer solution set basis, the $2.8 million decrease in Europe and Other International Markets total and core revenue for the three months ended September 30, 2012, as compared to the three months ended September 30, 2011, reflects:

Risk Management Solutions

A decrease in Risk Management Solutions of $1.7 million, or 3% (4% increase before the effect of foreign exchange) primarily due to:

• The negative impact of foreign exchange;

partially offset by:

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• Increased usage of transactional products and growth in our core DNBi subscription plans.

Traditional Risk Management Solutions, which accounted for 81% of Europe and Other International Markets Risk Management Solutions, decreased 6% (2% increase before the effect of foreign exchange). This decrease was primarily due to:

• The negative impact of foreign exchange;

partially offset by:

• Increased usage of transactional products and growth in our core DNBi subscription plans.

Value-Added Risk Management Solutions, which accounted for 17% of Europe and Other International Markets Risk Management Solutions, increased 7% (14% increase before the effect of foreign exchange). This increase was primarily due to increased purchases by our customers of new project-oriented business in certain of our European markets and increased revenue as a result of a new long-term agreement with our largest worldwide information partner Bisnode Information Group.

Supply Management Solutions, which accounted for 2% of Europe and Other International Markets Risk Management Solutions, increased 16% (35% increase before the effect of foreign exchange), on a small base.

Sales & Marketing Solutions

A decrease in Sales & Marketing Solutions of $1.1 million, or 10% (5% decrease before the effect for foreign exchange) primarily due to decreases in purchases by our customers of our project-oriented business.

Traditional Sales & Marketing Solutions, which accounted for 64% of Europe and Other International Markets Sales & Marketing Solutions, decreased 20% (16% decrease before the effect of foreign exchange). This decrease was primarily due to a decrease in purchases by our customers of our project-oriented business.

Value-Added Sales & Marketing Solutions, which accounted for 36% of Europe and Other International Markets Sales & Marketing Solutions, increased 17% (26% increase before the effect of foreign exchange). This increase was primarily due to increased sales to our existing customer base in certain of our markets as a result of cross border demand helping us grow despite the difficult macroeconomic environment.

Internet Solutions

Internet Solutions remained flat compared to prior year.

Europe and Other International Markets Operating Income

Europe and Other International Markets operating income for the three months ended September 30, 2012 was $17.3 million, compared to $15.4 million for the three months ended September 30, 2011, an increase of $1.9 million, or 12%, primarily due to:

• Decreased operating expenses (e.g., compensation, travel related expenses, etc.); and

• Lower costs as a result of our reengineering efforts;

partially offset by:

• The negative impact of foreign exchange.

Nine Months Ended September 30, 2012 vs. Nine Months Ended September 30, 2011

Europe and Other International Markets Overview

Europe and Other International Markets total and core revenue decreased $3.2 million, or 2% (3% increase before the effect of foreign exchange), for the nine months ended September 30, 2012 as compared to the nine months ended September 30, 2011.

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Europe and Other International Markets Customer Solution Sets

On a customer solution set basis, the $3.2 million decrease in Europe and Other International Markets total and core revenue for the nine months ended September 30, 2012, as compared to the nine months ended September 30, 2011, reflects:

Risk Management Solutions

A decrease in Risk Management Solutions of $2.7 million, or 2% (3% increase before the effect of foreign exchange) primarily due to:

• The negative impact of foreign exchange;

partially offset by:

• Increased purchases by our customers of new project-oriented business in most of our European markets.

Traditional Risk Management Solutions, which accounted for 80% of Europe and Other International Markets Risk Management Solutions, decreased 5% (less than 1% decrease before the effect of foreign exchange). This decrease was primarily due to:

• The negative impact of foreign exchange; and

• Lower transactional volumes as a result of our customers carefully managing their spend due to budgetary pressures.

Value-Added Risk Management Solutions, which accounted for 18% of Europe and Other International Markets Risk Management Solutions, increased 10% (14% increase before the effect of foreign exchange). This increase was primarily due to:

• Increased purchases by our customers of new project-oriented business in most of our European markets;

partially offset by:

• The negative impact of foreign exchange.

Supply Management Solutions, which accounted for 2% of Europe and Other International Markets Risk Management Solutions, increased 29% (44% increase before the effect of foreign exchange), on a small base.

Sales & Marketing Solutions

A decrease in Sales & Marketing Solutions of $0.7 million, or 2% (1% increase before the effect of foreign exchange) primarily due to:

• A decrease in purchases by our customers of our project-oriented business; and

• The negative impact of foreign exchange.

Traditional Sales & Marketing Solutions, which accounted for 63% of Europe and Other International Markets Sales & Marketing Solutions, decreased 6% (3% decrease before the effect of foreign exchange). This decrease was primarily due to:

• A decrease in purchases by our customers of our project-oriented business; and

• The negative impact of foreign exchange.

Value-Added Sales & Marketing Solutions, which accounted for 37% of Europe and Other International Markets Sales & Marketing Solutions, increased 5% (10% increase before the effect of foreign exchange). This increase was primarily due to increased sales to our existing customer base in certain of our markets as a result of cross border demand helping us grow despite the difficult macroeconomic environment.

Internet Solutions

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Internet Solutions increased $0.2 million, or 9% (12% increase before the effect of foreign exchange) on a small base.

Europe and Other International Markets Operating Income

Europe and Other International Markets operating income for the nine months ended September 30, 2012 was $46.1 million, compared to $36.2 million for the nine months ended September 30, 2011, an increase of $9.9 million, or 27%, primarily due to:

• Decreased operating expenses (e.g., compensation, travel related expenses, etc.); and

• Lower costs as a result of our reengineering efforts;

partially offset by:

• A decrease in total revenue.

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Forward-Looking Statements

We may from time-to-time make written or oral “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements contained in filings with the Securities and Exchange Commission, in reports to shareholders and in press releases and investor Web casts. These forward-looking statements can be identified by the use of words like “anticipates,” “aspirations,” “believes,” “continues,” “estimates,” “expects,” “goals,” “guidance,” “intends,” “plans,” “projects,” “strategy,” “targets,” “commits,” “will” and other words of similar meaning. They can also be identified by the fact that they do not relate strictly to historical or current facts.

We cannot guarantee that any forward-looking statement will be realized. Achievement of future results is subject to risks, uncertainties and inaccurate assumptions. Should known or unknown risks or uncertainties materialize, or should underlying assumptions prove inaccurate, actual results could vary materially from those anticipated, estimated or projected. Investors should bear this in mind as they consider forward-looking statements and whether to invest in, or remain invested in, our securities. In connection with the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, we are identifying in the following paragraphs important factors that, individually or in the aggregate, could cause actual results to differ materially from those contained in any forward-looking statements made by us; any such statement is qualified by reference to the following cautionary statements.

The following important factors could cause actual results to differ materially from those projected in such forward-looking statements:

• We rely significantly on third parties to support critical components of our business model in a continuous and high quality manner, including third-party data providers, strategic third-party members in our D&B Worldwide Network, and third parties with whom we have significant outsourcing arrangements;

• Our ability to implement and derive the benefit of our Strategic Technology Investment (“MaxCV”) program announced in February 2010 and to maintain sufficient investment in our technology infrastructure thereafter;

• Any consequences of the investigations of our China operations and risks associated with potential violations of the Foreign Corrupt Practices Act;

• Demand for our products is subject to intense competition, changes in customer preferences and economic conditions which impact customer behavior;

• Our solutions and brand image are dependent upon the integrity and security of our global database and the continued availability thereof through the internet and by other means, as well as our ability to protect key assets, such as our data centers;

• Our ability to secure our information technology infrastructure from cyber attack and unauthorized access;

• Our ability to maintain the integrity of our brand and reputation, which we believe are key assets and competitive advantages;

• Our ability to renew large contracts, the related revenue recognition and the timing thereof, or a shift in product mix, may impact our results of operations from period-to-period;

• As a result of the macro-economic challenges currently affecting the global economy, our customers or vendors may experience problems with their earnings, cash flow, or both. This may cause our customers to delay, cancel or significantly decrease their purchases from us and impact their ability to pay amounts owed to us. In addition, our vendors may substantially increase their prices without notice. Such behavior may materially, adversely affect our earnings and cash flow. In addition, if economic conditions in the United States, including any possible impact of an upcoming fiscal cliff, and other key markets deteriorate further or do not show improvement, we may experience material adverse impacts to our business, operating results, and/or access to credit markets;

• Our results are subject to the effects of foreign economies, exchange rate fluctuations, legislative or regulatory requirements, such as the adoption of new or changes in accounting policies and practices, including pronouncements by the Financial Accounting Standards Board or other standard setting bodies, and the implementation or modification of fees or taxes that we must pay to acquire, use, and/or redistribute data. Future

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laws or regulations with respect to the collection, compilation, use and/ or publication of information and adverse publicity or litigation concerning the commercial use of such information, or changes in the rules governing the operation of the Internet, could have a material adverse effect on our business and financial results;

• Our ability to acquire and successfully integrate other complementary businesses, products and technologies into our existing business, without significant disruption to our existing business or to our financial results;

• The continued adherence by third-party members of our D&B Worldwide Network, or other third parties who license and sell under the D&B name, to our quality standards, our brand and communication standards and to the terms and conditions of our commercial services arrangements;

• The profitability of our international businesses depends on our ability to identify and execute on various initiatives, such as successfully managing our D&B Worldwide Network, complying with the Foreign Corrupt Practices Act and other anti-bribery and anti-corruption laws in all jurisdictions, and our ability to identify and contend with various challenges present in foreign markets, such as local competition and the availability of public records at no cost, or the adoption of new laws or regulations governing the collection, compilation, use and/or publication of information, particularly in emerging markets;

• Our future success requires that we attract and retain qualified personnel, including members of our sales force and technology teams, in regions throughout the world;

• Our ability to successfully implement our growth strategy requires that we successfully reduce our expense base through our Financial Flexibility initiatives, and reallocate certain of the expense-base reductions into initiatives that produce desired revenue growth;

• We are involved in various legal proceedings, the outcomes of which are unknown and uncertain with respect to the impact on our cash flow and profitability;

• Our ability to repurchase shares is subject to market conditions, including trading volume in our stock, and our ability to repurchase shares in accordance with applicable securities laws; and

• Our projection for free cash flow is dependent upon our ability to generate revenue, our collection processes, customer payment patterns, the timing and volume of stock option exercises and the amount and timing of payments related to the tax and other matters and legal proceedings in which we are involved.

We elaborate on the above list of important factors throughout this document and in our other filings with the SEC, particularly in the discussion of our Risk Factors in Item 1A. of our Annual Report on Form 10-K. It should be understood that it is not possible to predict or identify all risk factors. Consequently, the above list of important factors and the Risk Factors discussed in Item 1A. of our Annual Report on Form 10-K should not be considered to be a complete discussion of all of our potential trends, risks and uncertainties. Except as otherwise required by federal securities laws, we do not undertake any obligation to update any forward-looking statement we may make from time-to-time.

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Liquidity and Financial Position

In connection with our commitment to delivering Total Shareholder Return, we will remain disciplined in the use of our shareholders’ cash, maintaining three key priorities for the use of this cash:

• First, making ongoing investments in the business to drive growth;

• Second, investing in acquisitions that we believe will be value-accretive to enhance our capabilities and accelerate our growth; and

• Third, continuing to return cash to shareholders.

We believe that cash provided by operating activities, supplemented as needed with available financing arrangements, is sufficient to meet our short-term needs (twelve months or less), including restructuring charges, transition costs, our Strategic Technology Investment, which we refer to as “MaxCV” for Maximizing Customer Value, contractual obligations and contingencies (see Note 7 to our unaudited consolidated financial statements included in Item 1. of this Quarterly Report on Form 10-Q), excluding the legal matters identified in such note for which exposures cannot be estimated or are not probable. In addition, we believe that our ability to readily access the bank and capital markets for incremental financing needs will enable us to meet our continued focus on Total Shareholder Return. We have the ability to access the short-term borrowings market to supplement the seasonality in the timing of receipts in order to fund our working capital needs and share repurchases. Such borrowings would be supported by our $800 million revolving credit facility, when needed. Our future capital requirements will depend on many factors that are difficult to predict, including the size, timing and structure of any future acquisitions, future capital investments, and the ultimate resolution of issues arising from the investigations regarding potential Foreign Corrupt Practices Act and data privacy violations in our China operations and future results of operations.

The disruption in the economic environment has had a significant adverse impact on a number of commercial and financial institutions. Our liquidity has not been impacted by the current credit environment and management does not expect that it will be materially impacted in the near future. Management continues to closely monitor our liquidity, the credit markets and our financial counterparties. However, management cannot predict with any certainty the impact to us of any further disruption in the credit environment.

On July 13, 2012, Standard and Poor’s lowered our long-term credit rating from A- to BBB+ and affirmed our short-term credit rating at A-2. On August 10, 2012, Fitch Ratings lowered our issuer default rating from A- to BBB+ and affirmed our short-term issuer default rating at F-2. The long-term rating revisions are not expected to materially impact our liquidity position, access to the capital markets or funding costs.

Cash Provided by Operating Activities

Net cash provided by operating activities was $307.1 million and $271.2 million for the nine months ended September 30, 2012 and 2011, respectively. The $35.9 million increase was primarily driven by:

• Increased net income of our underlying business excluding the impact of non-cash gains and losses; and

• Receipt related to the termination of interest rate derivatives. See Note 4 to our unaudited consolidated financial statements included in Item 1. of this Quarterly Report on Form 10-Q;

partially offset by

• Increased net tax payments as compared to prior year.

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Cash Used in Investing Activities

Net cash used in investing activities was $35.1 million for the nine months ended September 30, 2012, as compared to net cash used in investing activities of $38.4 million for the nine months ended September 30, 2011. The $3.3 million change primarily reflects the following activities:

• Proceeds related to the sale of: i) the domestic portion of our Japanese operations to TSR; ii) Purisma Incorporated; iii) our market research business in China, consisting of two joint venture companies; and iv) AllBusiness.com, Inc. See Note 13 to our unaudited consolidated financial statements included in Item 1. of this Quarterly Report on Form 10-Q;

• A reimbursement of proceeds related to a divested business in the prior year; and

• Cash settlements of our foreign currency contracts for our hedged transactions resulted in cash inflows of $8.8 million for the nine months ended September 30, 2012, as compared to cash inflows of $3.9 million for the nine months ended September 30, 2011;

partially offset by:

• An increase in additions to computer software and other intangibles (e.g., MaxCV).

Cash Used in Financing Activities

Net cash used in financing activities was $219.7 million and $231.2 million for the nine months ended September 30, 2012 and 2011, respectively. As set forth below, this $11.5 million change primarily relates to contractual obligations and share repurchases.

Contractual Obligations

Credit Facility

At September 30, 2011, we had a $650 million, five-year bank revolving credit facility, which we terminated on October 25, 2011, and we concurrently entered into an $800 million, five-year bank revolving credit facility.

At September 30, 2012, we had an $800 million revolving credit facility, which expires in October 2016. We had $320.1 million of borrowings outstanding under the $800 million revolving credit facility at September 30, 2012. We had $187.8 million of borrowings outstanding under the $650 million revolving credit facility at September 30, 2011. We borrowed under the $800 million revolving credit facility from time-to-time during the nine months ended September 30, 2012 to supplement the seasonality in the timing of receipts in order to fund our working capital needs and share repurchases.

Share Repurchases

During the nine months ended September 30, 2012, we repurchased 3,463,999 shares of common stock for $240.0 million. The share repurchases were comprised of the following programs:

• In August 2012, our Board of Directors approved a $500 million increase to our existing $500 million share repurchase program, for a total program authorization of $1 billion. The then existing $500 million program was announced in October 2011 and commenced in November 2011 upon the completion of our then existing $200 million share repurchase program. We repurchased 3,404,436 shares of common stock for $236.0 million under this share repurchase program during the nine months ended September 30, 2012. We anticipate that this program will be completed in 2014.

• In May 2010, our Board of Directors approved a four-year, five million share repurchase program to mitigate the dilutive effect of the shares issued under our stock incentive plans and ESPP. We repurchased 59,563 shares of common stock for $4.0 million under this share repurchase program during the nine months ended September 30, 2012. This repurchase program commenced in October 2010 and expires in October 2014. We anticipate that this program will be completed by October 2014.

During the nine months ended September 30, 2011, we repurchased 1,642,700 shares of common stock for $121.6 million. The share repurchases were comprised of the following programs:

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• In February 2009, our Board of Directors approved a $200 million share repurchase program, which commenced in December 2009. We repurchased 976,335 shares of common stock for $71.5 million under this share repurchase program during the nine months ended September 30, 2011. This program was completed in November 2011; and

• In May 2010, our Board of Directors approved a four-year, five million share repurchase program to mitigate the dilutive effect of the shares issued under our stock incentive plans and ESPP. We repurchased 666,365 shares of common stock for $50.1 million under this share repurchase program during the nine months ended September 30, 2011. This repurchase program commenced in October 2010 and expires in October 2014.We anticipate that this program will be completed by October 2014.

Future Liquidity—Sources and Uses of Funds

Share Repurchases

In August 2012, our Board of Directors approved a $500 million increase to our existing $500 million share repurchase program, for a total program authorization of $1 billion. The then existing $500 million program was announced in October 2011 and commenced in November 2011 upon completion of our then existing $200 million share repurchase program. During the nine months ended September 30, 2012, we repurchased 3,404,436 shares of common stock for $236.0 million under this share repurchase program leaving $734.2 million remaining under this program as of September 30, 2012. We anticipate that this program will be completed in 2014.

In May 2010, our Board of Directors approved a four-year, five million share repurchase program to mitigate the dilutive effect of shares issued under our stock incentive plans and ESPP. During the nine months ended September 30, 2012, we repurchased 59,563 shares of common stock for $4.0 million under this share repurchase program with 4,116,003 shares of common stock remaining under this program. This program commenced in October 2010 and expires in October 2014. We anticipate that this program will be completed by October 2014.

Dividends

In October 2012, we approved the declaration of a dividend of $0.38 per share of common stock for the fourth quarter of 2012. This cash dividend will be payable on December 13, 2012 to shareholders of record at the close of business on November 28, 2012.

Debt

We have $400 million of senior notes maturing on April 1, 2013 and intend to refinance the notes. While we believe we will be able to refinance the notes, we also have the ability to retire the notes as they come due based on available borrowing capacity under our $800 million revolving credit facility, future cash provided by operations, and current cash balances.

Strategic Technology Investment Program or MaxCV

In February 2010, we announced MaxCV, aimed at strengthening our leading position in commercial data and improving our current technology platform to meet the emerging needs of customers.

We expect that MaxCV will have a total cost of approximately $160 million on a project basis through 2012, of which the 2012 spend will be approximately $60 million. The project will largely focus on continuing to rebuild the data supply chain as well as introducing additional Web services. We are on track to be up and running with the new data supply chain in one market by year end. The build was completed in August 2012 and all of the component testing was finished during the third quarter of 2012. In the fourth quarter of 2012, we expect to complete the user acceptance testing, so we can migrate our products and customers over to the new infrastructure. At that point, the core build out of the new data supply chain will be complete. All expenses incurred to connect the U.S. and other MaxCV markets to the new supply chain will be included in future years. We may experience additional costs that we do not currently foresee.

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Spin-off Obligation

In 2000, as part of a spin-off transaction under which Moody’s Corporation (“Moody’s”) and D&B became independent of one another, Moody’s and D&B entered into a Tax Allocation Agreement (“TAA”). Under the TAA, Moody’s and D&B agreed that Moody’s would be entitled to deduct the compensation expense associated with the exercise of Moody’s stock options (including Moody’s stock options exercised by D&B employees) and D&B would be entitled to deduct the compensation expense associated with the exercise of D&B stock options (including D&B stock options exercised by employees of Moody’s). Put simply, the tax deduction would go to the company that granted the stock options, rather than to the employer of the individual exercising the stock options. In 2002 and 2003, the Internal Revenue Service (“IRS”) issued rulings that clarified that, under the circumstances applicable to Moody’s and D&B, the compensation expense deduction belongs to the employer of the option grantee and not to the issuer of the option (e.g., D&B would be entitled to deduct the compensation expense associated with D&B employees exercising Moody’s options and Moody’s would be entitled to deduct the compensation expense associated with Moody’s employees exercising D&B options). We have filed tax returns for 2001 through 2011 consistent with the IRS rulings. We may be required to reimburse Moody’s for the loss of compensation expense deductions relating to tax years 2008 to 2010 of approximately $1.6 million in the aggregate for such years. This liability was reduced from $20.5 million at December 31, 2011 to $1.6 million during the first quarter of 2012 due to expiration of the statute of limitations. In 2005 and 2006, we paid Moody’s approximately $30.1 million in the aggregate, which represented the incremental tax benefits realized by D&B for tax years 2003-2005 from using the filing method consistent with the IRS rulings. In February 2011, we paid Moody’s an additional sum of approximately $2.5 million, for tax years 2003-2005. While not material, we may also be required to pay, in the future, amounts in addition to the approximately $1.6 million referenced above based upon interpretations by the parties of the TAA and the IRS rulings.

Commercial Paper Program

We maintain an $800 million commercial paper program which is supported by the $800 million revolving credit facility. The commercial paper program was increased from $300 million to $800 million in July 2012 (limited by borrowed amounts outstanding under the $800 million revolving credit facility). Under this program, we may issue from time to time unsecured promissory notes in the commercial paper market in private placements exempt from registration under the Securities Act of 1933, as amended, for a cumulative face amount not to exceed $800 million outstanding at any one time and with maturities not exceeding 364 days from the date of issuance. Outstanding commercial paper effectively reduces the amount available for borrowing under the $800 million revolving credit facility.

Potential Payments in Legal Matters

We are involved in certain legal proceedings, claims and litigation arising in the ordinary course of business. These matters are at various stages of resolution, but could ultimately result in significant cash payments as described in Note 7 to our unaudited consolidated financial statements included in Item 1. of this Quarterly Report on Form 10-Q. We believe we have adequate reserves recorded in our unaudited consolidated financial statements for our current exposures in these matters, where applicable, as described herein.

As discussed under “Recent Developments” above, we are currently investigating alleged violations of law in our China operations, which could ultimately result in penalties or other payments by us. In connection with the shut-down of our Roadway operations, we believe we may incur additional cash expenditures for severance, lease payments, etc.

Unrecognized Tax Benefits

In addition to our contractual cash obligations as set forth in our Annual Report on Form 10-K for the year ending December 31, 2011, we have a total amount of unrecognized tax benefits of $100.0 million as of September 30, 2012. Although we do not anticipate payments within the next twelve months for these matters, these could require the aggregate use of cash totaling approximately $116.7 million.

Off-Balance Sheet Arrangements and Related Party Transactions

We do not have any transactions, obligations or relationships that could be considered off-balance sheet arrangements except for those disclosed in Note 7 to our consolidated financial statements included in Item 8. of our Annual Report on Form 10-K for the year ended December 31, 2011.

We do not have any related party transactions as of September 30, 2012.

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Fair Value Measurements

Our non-recurring non-financial assets and liabilities include long-lived assets held and used, goodwill and intangible assets. These assets are recognized at fair value when they are deemed to be impaired.

During the first quarter of 2012, we recorded an impairment charge of $12.9 million related to the accounts receivable, intangible assets, prepaid costs and software for Roadway, an operation in our Greater China reporting unit. See Note 7 to our unaudited consolidated financial statements included in this Quarterly Report on Form 10-Q for further discussion on this investigation. We determined that the new cost basis of intangible assets, prepaid costs and software is zero based on Level III inputs (see Note 11 to our unaudited consolidated financial statements included in this Quarterly Report on Form 10-Q for further discussion on the level inputs) to measure fair value, as market data of these assets are not readily available. We wrote down the accounts receivable to its realizable value based on the probability of collecting from the customer accounts. Of the $12.9 million impairment charge, $4.1 million was included in “Operating Costs” and $8.8 million was included in “Selling and Administrative Expenses” in our Asia Pacific segment.

As of September 30, 2012, we did not have any unobservable (Level III) inputs in determining fair value for our assets and liabilities measured at fair value on a recurring basis other than our real estate funds within our pension funds.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

Our market risks primarily consist of the impact of changes in currency exchange rates on assets and liabilities, the impact of changes in the market value of certain of our investments and the impact of changes in interest rates. As of September 30, 2012, no material change had occurred in our market risks, compared with the disclosure in our Annual Report on Form 10-K for the year ended December 31, 2011 included in Item 7A. Quantitative and Qualitative Disclosures About Market Risk.

Item 4. Controls and Procedures.

We evaluated the effectiveness of our disclosure controls and procedures (“Disclosure Controls”) as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (“Exchange Act”) as of the end of the period covered by this report. This evaluation (“Controls Evaluation”) was done with the participation of our Chief Executive Officer (“CEO”) and Chief Financial Officer (“CFO”).

Disclosure Controls are controls and other procedures that are designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is accumulated and communicated to our management, including our CEO and CFO, as appropriate, to allow timely decisions regarding required disclosure.

Limitations on the Effectiveness of Controls

Our management, including our CEO and CFO, does not expect that our Disclosure Controls or our internal control over financial reporting will prevent all error and all fraud. A control system, no matter how well conceived and operated, can provide only reasonable assurance that the objectives of a control system are met. Further, any control system reflects limitations on resources, and the benefits of a control system must be considered relative to its costs. Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within D&B have been detected. Judgments in decision-making can be faulty and breakdowns can occur because of simple error or mistake. Additionally, controls can be circumvented by individual acts, by collusion of two or more people, or by management override. The design of a control system is also based upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions. Over time, controls may become inadequate because of changes in conditions, or the degree of compliance with the policies or procedures may deteriorate. Because of the inherent limitations in a cost-effective control system, misstatements due to error or fraud may occur and may not be detected. Our Disclosure Controls are designed to provide reasonable assurance of achieving their objectives.

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Conclusions Regarding Disclosure Controls

Based upon our Controls Evaluation, our CEO and CFO have concluded that as of the end of the quarter ended September 30, 2012, our Disclosure Controls are effective at a reasonable assurance level.

Change in Internal Control Over Financial Reporting

There was no change in our internal control over financial reporting that occurred during the third quarter of 2012 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

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PART II. OTHER INFORMATION

Item 1. Legal Proceedings

Information in response to this Item is included in “Part I — Item 1. — Note 7 — Contingencies” and is incorporated by reference into Part II of this Quarterly Report on Form 10-Q.

Item 1a. Risk Factors

The outcome of the investigation by our audit committee or government agencies of possible violations of consumer data privacy laws, the Foreign Corrupt Practices Act (“FCPA”), and similar laws or, similar investigations and compliance reviews that we may conduct from time to time, could have a material adverse effect on our business.

On March 18, 2012, we announced that we had temporarily suspended our Shanghai Roadway D&B Marketing Services Co Ltd. (“Roadway”) operations in China, pending an investigation into allegations that its data collection practices may violate local Chinese consumer data privacy laws. Thereafter, the Company decided to permanently cease the operations of Roadway. In addition, we have been reviewing certain allegations that we may have violated the Foreign Corrupt Practices Act and certain other laws in our China operations. As previously reported, we have voluntarily contacted the Securities and Exchange Commission and the United States Department of Justice to advise both agencies of our investigation. Our investigation remains ongoing and is being conducted at the direction of the Audit Committee.

For the nine months ended September 30, 2012, the Roadway business had $5.4 million of revenue and $14.5 million of operating loss. Additionally, during the nine months ended September 30, 2012, we have incurred $11.0 million of legal fees and other corporate shut-down costs and $1.8 million in local shut-down costs, as well as, an impairment charge of $12.9 million related to accounts receivable, intangible assets, prepaid costs and software for Roadway, an operation in our Greater China reporting unit. D&B acquired Roadway’s operations in 2009, and for 2011 Roadway accounted for approximately $22 million in revenue and $2 million in operating income.

On September 28, 2012, Roadway was charged in a Bill of Prosecution, along with five current or former employees, by the Shanghai District Prosecutor with illegally obtaining private information of Chinese citizens. A trial date has not yet been set. We have been advised that a conviction of Roadway and the five individuals is likely, and that a criminal fine will be imposed on Roadway. We are unable to provide a reasonable estimate of the fine at this time.

We are presently unable to predict the duration, scope or result of the Audit Committee's investigation, of any investigations by the SEC, or the DOJ, or any other US or foreign governmental authority, or whether any such authority will commence any additional legal action against us. The SEC and the DOJ have a broad range of civil and criminal sanctions available to them under the FCPA and other laws and regulations including, but not limited to, injunctive relief, disgorgement, fines, penalties, modifications to business practices, including the termination or modification of existing business relationships, and the imposition of compliance programs and the retention of a monitor to oversee compliance with the FCPA. The imposition of any of these sanctions or remedial measures could have a material adverse effect on our business, financial condition or results of operations.

From time-to-time, we may conduct internal investigations and compliance reviews, the findings of which could negatively impact our business. Any determination that our operations or activities are not, or were not, in compliance with existing United States or foreign laws or regulations could result in the imposition of substantial fines, interruptions of business, loss of supplier, vendor or other third party relationships, termination of necessary licenses and permits, and other legal or equitable sanctions. Other internal or government investigations or legal or regulatory proceedings may also follow as a consequence.

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Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

The following table provides information about purchases made by or on behalf of the Company or our affiliated purchasers during the quarter ended September 30, 2012, of shares of equity that are registered by the Company pursuant to Section 12 of the Exchange Act.

Period	Total Number of Shares Purchased (a)(b)	Average Price Paid Per Share		Total Number of Shares Purchased as part of Publicly Announced Plans or Programs (a)(b)	Maximum Number of Currently Authorized Shares that May Yet  Be Purchased Under the Plans or Programs (a)	Approximate Dollar Value of Currently Authorized Shares that May Yet Be Purchased Under the Plans or Programs (b)
	(Dollar amounts in millions, except share data)
July 1 - 31, 2012	—	$	—	—	—	$	—
August 1 - 31, 2012	—	$	—	—	—	$	—
September 1 - 30, 2012	435,733	$	82.57	435,733	—	$	—
	435,733	$	82.57	435,733	4,116,003	$	734.2

(a) During the three months ended September 30, 2012, we repurchased no shares of common stock under our Board of Directors approved repurchase program to mitigate the dilutive effect of the shares issued under our stock incentive plans and Employee Stock Purchase Plan. This program was announced in May 2010 and expires in October 2014. The maximum number of shares authorized for repurchase under this program is 5,000,000 shares, of which 883,997 shares had been repurchased as of September 30, 2012. We anticipate that this program will be completed by October 2014.

(b) In August 2012, our Board of Directors approved a $500 million increase to our existing $500 million share repurchase program, for a total program authorization of $1 billion. During the three months ended September 30, 2012, we repurchased 435,733 shares of common stock for $36.0 million under this share repurchase program. We anticipate that this program will be completed in 2014.

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Item 6. Exhibits

Exhibit 10.1	Form of Indemnification Agreement, as revised by the Company's Board of Directors on August 7, 2012.
Exhibit 31.1	Certification of Chief Executive Officer pursuant to Rule 13a-14(a)/15(d)-14(a) of the Securities Exchange Act of 1934, as amended, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
Exhibit 31.2	Certification of Chief Financial Officer pursuant to Rule 13a-14(a)/15(d)-14(a) of the Securities Exchange Act of 1934, as amended, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
Exhibit 32.1	Certification of Chief Executive Officer pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
Exhibit 32.2	Certification of Chief Financial Officer pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
Exhibit 101	The following financial information from The Dun & Bradstreet Corporation’s Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2012 formatted in Extensible Business Reporting Language (XBRL): (i) the Consolidated Statements of Operations and Comprehensive Income, (ii) the Consolidated Balance Sheets, (iii) the Consolidated Statements of Cash Flows, (iv) the Consolidated Statements of Shareholders’ Equity, and (v) the Notes to the Consolidated Financial Statements.*

 ____________________

* Users of this interactive data file are advised pursuant to Rule 406T of Regulation S-T that this interactive data file is deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, and otherwise is not subject to liability under these sections.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

THE DUN & BRADSTREET CORPORATION
By:		/s/    RICHARD H. VELDRAN
		Richard H. Veldran
		Senior Vice President and Chief Financial Officer
Date:	November 1, 2012
By:		/s/    ANTHONY PIETRONTONE JR.
		Anthony Pietrontone Jr.
		Principal Accounting Officer and Corporate Controller
Date:	November 1, 2012

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EX-10.1

Exhibit 10.1

INDEMNIFICATION AGREEMENT

This Indemnification Agreement, dated as of _________ , 201__, is made by and between THE DUN & BRADSTREET CORPORATION, a Delaware corporation (the “Corporation”) and ____________________________ (the “Indemnitee”).

RECITALS

A.    The Corporation recognizes that competent and experienced persons are increasingly reluctant to serve or to continue to serve as directors or officers of corporations unless they are protected by comprehensive liability insurance or indemnification, or both, due to increased exposure to litigation costs and risks resulting from their service to such corporations, and due to the fact that the exposure frequently bears no reasonable relationship to the compensation of such directors and officers;

B.    The statutes and judicial decisions regarding the duties of directors and officers are often difficult to apply, ambiguous, or conflicting, and therefore fail to provide such directors and officers with adequate, reliable knowledge of legal risks to which they are exposed or information regarding the proper course of action to take;

C.    The Corporation and Indemnitee recognize that plaintiffs often seek damages in such large amounts and the costs of litigation may be so enormous (whether or not the case is meritorious), that the defense and/or settlement of such litigation is often beyond the personal resources of directors and officers;

D.    The Corporation believes that it is unfair for its directors and officers to assume the risk of huge judgments and other expenses which may occur in cases in which the director or officer received no personal profit and in cases where the director or officer was not culpable;

E.    The Corporation, after reasonable investigation, has determined that the liability insurance coverage presently available to the Corporation may be inadequate in certain circumstances to cover all possible exposure for which Indemnitee should be protected. The Corporation believes that the interests of the Corporation and its stockholders would best be served by a combination of such insurance and the indemnification by the Corporation of the directors and officers of the Corporation;

F.    The Corporation’s Amended and Restated Certificate of Incorporation, as amended, requires the Corporation to indemnify its directors and officers to the fullest extent permitted by the Delaware General Corporation Law (the “DGCL”). The Restated Certificate of Incorporation expressly provides that the indemnification provisions set forth therein are not exclusive, and contemplate that contracts may be entered into between the Corporation and its directors and officers with respect to indemnification;

G.    Section 145 of the DGCL (“Section 145”), under which the Corporation is organized, empowers the Corporation to indemnify its officers, directors, employees and agents by agreement and to indemnify persons who serve, at the request of the Corporation, as the directors, officers, employees or agents of other corporations or enterprises, and expressly provides that the indemnification provided by Section 145 is not exclusive;

H.    The Board of Directors has determined that contractual indemnification as set forth herein is not only reasonable and prudent but also promotes the best interests of the Corporation and its stockholders;

I.    The Corporation desires and has requested Indemnitee to serve or continue to serve as a director or officer of the Corporation and/or one or more subsidiaries or affiliates of the Corporation free from undue concern for unwarranted claims for damages arising out of or related to such services to the Corporation and/or one or more subsidiaries or affiliates of the Corporation; and

J.    Indemnitee is willing to serve, continue to serve or to provide additional service for or on behalf of the Corporation on the condition that he is furnished the indemnity provided for herein.

AGREEMENT

NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth below, and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

Section 1. Generally.

To the fullest extent permitted by the laws of the State of Delaware:

(a) The Corporation shall indemnify Indemnitee if Indemnitee was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative, by reason of the fact that Indemnitee is or was or has agreed to serve at the request of the Corporation as a director, officer, employee or agent of the Corporation, or while serving as a director or officer of the Corporation, is or was serving or has agreed to serve at the request of the Corporation as a director, officer, employee or agent (which, for purposes hereof, shall include a trustee, partner or manager or similar capacity) of another corporation, partnership, joint venture, trust, employee benefit plan or other enterprise, or by reason of any action alleged to have been taken or omitted in such capacity.

(b) The indemnification provided by this Section 1 shall be from and against expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with such action, suit or proceeding and any appeal therefrom, but shall only be provided if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Corporation, and, with respect to any criminal action, suit or proceeding, had no reasonable cause to believe Indemnitee’s conduct was unlawful.

(c) Notwithstanding the foregoing provisions of this Section 1, in the case of any threatened, pending or completed action or suit by or in the right of the Corporation to procure a judgment in its favor by reason of the fact that Indemnitee is or was a director, officer, employee or agent of the Corporation, or while serving as a director or officer of the Corporation, is or was serving or has agreed to serve at the request of the Corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust, employee benefit plan or other enterprise, no indemnification shall be made in respect of any claim, issue or matter as to which Indemnitee shall have been adjudged to be liable to the Corporation unless, and only to the extent that, the Delaware Court of Chancery or the court in which such action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnity for such expenses which the Delaware Court of Chancery or such other court shall deem proper.

(d) The termination of any action, suit or proceeding by judgment, order, settlement, conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that Indemnitee did not act in good faith and in a manner which Indemnitee reasonably believed to be in or not opposed to the best interests of the Corporation, and, with respect to any criminal action or proceeding, had reasonable cause to believe that Indemnitee’s conduct was unlawful.

Section 2. Successful Defense; Partial Indemnification. To the extent that Indemnitee has been successful on the merits or otherwise in defense of any action, suit or proceeding referred to in Section 1 hereof or in defense of any claim, issue or matter therein, Indemnitee shall be indemnified against expenses (including attorneys’ fees) actually and reasonably incurred in connection therewith. For purposes of this Agreement and without limiting the foregoing, if any action, suit or proceeding is disposed of, on the merits or otherwise (including a disposition without prejudice), without (i) the disposition being adverse to Indemnitee, (ii) an adjudication that Indemnitee was liable to the Corporation, (iii) a plea of guilty or nolo contendere by Indemnitee, (iv) an adjudication that Indemnitee did not act in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Corporation, and (v) with respect to any criminal proceeding, an adjudication that Indemnitee had reasonable cause to believe Indemnitee’s conduct was unlawful, Indemnitee shall be considered for the purposes hereof to have been wholly successful with respect thereto.

If Indemnitee is entitled under any provision of this Agreement to indemnification by the Corporation for some or a portion of the expenses (including attorneys’ fees), judgments, fines or amounts paid in settlement actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with any action, suit, proceeding or investigation, or in defense of any claim, issue or matter therein, and any appeal therefrom but not, however, for the total amount thereof, the Corporation shall nevertheless indemnify Indemnitee for the portion of such expenses (including attorneys’ fees), judgments, fines or amounts paid in settlement to which Indemnitee is entitled.

Section 3. Determination That Indemnification Is Proper. Any indemnification hereunder shall (unless otherwise ordered by a court) be made by the Corporation unless a determination is made that indemnification of such person is not proper in the circumstances because he or she has not met the applicable standard of conduct set forth in Section 1(b) hereof. Any such determination shall be made in accordance with Section 5 and (i) by a majority vote of thedirectors who are not and were not parties to, or threatened to be made a party to, the action, suit or proceeding in question (“disinterested directors”), even if less than a quorum, (ii) by a majority vote of a committee of disinterested directors designated by majority vote of disinterested directors, even if less than a quorum, (iii) by a majority vote of a quorum of the outstanding shares of stock of all classes entitled to vote on the matter, voting as a single class, which quorum shall consist of stockholders who are not at that time parties to the action, suit or proceeding in question, (iv) by one Independent Legal Counsel (regardless whether indemnification is sought by one or more than one director or officer) , or (v) by a court of competent jurisdiction; provided, however, that if a Change in Control shall have occurred or indemnification is sought in connection with a Company Authorized Proceeding, an indemnification determination hereunder shall be made by the Independent Legal Counsel in a written opinion to the Board of Directors, a copy of which shall be delivered to Indemnitee, or by a court of competent jurisdiction if no Independent Legal Counsel is timely selected or is willing or able to act.

Section 4. Advance Payment of Expenses; Notification and Defense of Claim.

(a) Expenses (including attorneys’ fees) incurred by Indemnitee in defending a threatened or pending civil, criminal, administrative or investigative action, suit or proceeding, or in connection with an enforcement action pursuant to Section 5(b), shall be paid by the Corporation in advance of the final disposition of such action, suit or proceeding within thirty (30) days after receipt by the Corporation of (i) a statement or statements from Indemnitee requesting such advance or advances from time to time, and (ii) an undertaking by or on behalf of Indemnitee to repay such amount or amounts, only if, and to the extent that, it shall ultimately be determined that Indemnitee is not entitled to be indemnified by the Corporation as authorized by this Agreement or otherwise. Such undertaking shall be accepted without reference to the financial ability of Indemnitee to make such repayment. Advances shall be unsecured and interest-free.

(b) Promptly after receipt by Indemnitee of notice of the commencement of any action, suit or proceeding, Indemnitee shall, if a claim thereof is to be made against the Corporation hereunder, notify the Corporation of the commencement thereof. The failure to promptly notify the Corporation of the commencement of the action, suit or proceeding, or Indemnitee’s request for indemnification, will not relieve the Corporation from any liability that it may have to Indemnitee hereunder, except to the extent the Corporation is prejudiced in its defense of such action, suit or proceeding as a result of such failure.

(c) In the event the Corporation shall be obligated to pay the expenses of Indemnitee with respect to an action, suit or proceeding, as provided in this Agreement, the Corporation, if appropriate, shall be entitled to assume the defense of such action, suit or proceeding, with counsel reasonably acceptable to Indemnitee, upon the delivery to Indemnitee of written notice of its election to do so. After delivery of such notice, approval of such counsel by Indemnitee and the retention of such counsel by the Corporation, the Corporation will not be liable to Indemnitee under this Agreement for any fees of counsel subsequently incurred by Indemnitee with respect to the same action, suit or proceeding, provided that (1) Indemnitee shall have the right to employ Indemnitee’s own counsel in such action, suit or proceeding at Indemnitee’s expense and (2) if (i) the employment of counsel by Indemnitee has been previously authorized in writing by the Corporation, (ii) counsel to the Corporation or Indemnitee shall have reasonably concluded that there may be a conflict of interest or position, or reasonably believes that a conflict is likely to arise, on any significant issue between the Corporation and Indemnitee in the conduct of any such defense or (iii) the Corporation shall not, in fact, have employed counsel to assume the defense of such action, suit or proceeding, then the fees and expenses of Indemnitee’s counsel shall be at the expense of the Corporation, except as otherwise expressly provided by this Agreement. The Corporation shall not be entitled, without the consent of Indemnitee, to assume the defense of any claim brought by or in the right of the Corporation or as to which counsel for the Corporation or Indemnitee shall have reasonably made the conclusion provided for in clause (ii) above.

(d) Notwithstanding any other provision of this Agreement to the contrary, to the extent that Indemnitee is, by reason of Indemnitee’s corporate status with respect to the Corporation or any corporation, partnership, joint venture, trust, employee benefit plan or other enterprise which Indemnitee is or was serving or has agreed to serve at the request of the Corporation, a witness or otherwise participates in any action, suit or proceeding at a time when Indemnitee is not a party in the action, suit or proceeding, the Corporation shall indemnify Indemnitee against all expenses (including attorneys’ fees) actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection therewith.

Section 5. Procedure for Indemnification

(a) To obtain indemnification, Indemnitee shall promptly submit to the Corporation a written request, including therein or therewith such documentation and information as is reasonably available to Indemnitee and is reasonably necessary to determine whether and to what extent Indemnitee is entitled to indemnification. The Corporation shall, promptly upon receipt of such a request for indemnification, advise the Board of Directors in writing that Indemnitee has requested indemnification. Indemnitee shall reasonably cooperate with the person, persons or entity making such determination with respect to Indemnitee’s entitlement to indemnification. Any expenses incurred by Indemnitee in so cooperating shall be borne by the Corporation (irrespective of the determination as to Indemnitee’s entitlement to indemnification) and the Corporation shall indemnify and hold Indemnitee harmless therefrom.

(b) The Corporation’s determination whether to grant Indemnitee’s indemnification request shall be made promptly, and in any event within 60 days following receipt of a request for indemnification pursuant to Section 5(a). The right to indemnification as granted by Section 1 of this Agreement shall be enforceable by Indemnitee in any court of competent jurisdiction if the Corporation denies such request, in whole or in part, or fails to respond within such 60-day period. It shall be a defense to any such action (other than an action brought to enforce a claim for the advance of costs, charges and expenses under Section 4 hereof where the required undertaking, if any, has been received by the Corporation) that Indemnitee has not met the standard of conduct set forth in Section 1 hereof, but the burden of proving such defense by clear and convincing evidence shall be on the Corporation. Neither the failure of the Corporation (including its Board of Directors or one of its committees, its Independent Legal Counsel, and its stockholders) to have made a determination prior to the commencement of such action that indemnification of Indemnitee is proper in the circumstances because Indemnitee has met the applicable standard of conduct set forth in Section 1 hereof, nor the fact that there has been an actual determination by the Corporation (including its Board of Directors or one of its committees, its Independent Legal Counsel, and its stockholders) that Indemnitee has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that Indemnitee has or has not met the applicable standard of conduct. The Indemnitee’s expenses (including attorneys’ fees) incurred in connection with successfully establishing Indemnitee’s right to indemnification, in whole or in part, in any such proceeding or otherwise shall also be indemnified by the Corporation.

(c) The Indemnitee shall be presumed to be entitled to indemnification under this Agreement upon submission of a request for indemnification pursuant to this Section 5, and the Corporation shall have the burden of proof in overcoming that presumption in reaching a determination contrary to that presumption. Such presumption shall be used as a basis for a determination of entitlement to indemnification unless the Corporation overcomes such presumption by clear and convincing evidence.

(d) If it is determined that Indemnitee is entitled to indemnification, payment shall be timely made after that determination.

(e) Notwithstanding anything in this Agreement to the contrary, no determination as to entitlement to indemnification under this Agreement shall be required to be made prior to a judgment or pending settlement in the action, suit or proceeding.

Section 6. Insurance and Subrogation.

(a) The Corporation shall use commercially reasonable efforts to purchase and maintain insurance on behalf of Indemnitee who is or was or has agreed to serve at the request of the Corporation as a director or officer of the Corporation, and may purchase and maintain insurance on behalf of Indemnitee who is or was serving at the request of the Corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust, employee benefit plan or other enterprise against any liability asserted against, and incurred by, Indemnitee or on Indemnitee’s behalf in any such capacity, or arising out of Indemnitee’s status as such, whether or not the Corporation would have the power to indemnify Indemnitee against such liability under the provisions of this Agreement. If the Corporation has such insurance in effect at the time the Corporation receives from Indemnitee any notice of the commencement of a proceeding, the Corporation shall give prompt notice of the commencement of such proceeding to the insurers in accordance with the procedures set forth in the policy. The Corporation shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of such proceeding in accordance with the terms of such policy.

(b) In the event of any payment by the Corporation under this Agreement, the Corporation shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee with respect to any insurance policy, who shall execute all papers required and take all action necessary to secure such rights, including execution of such documents as are necessary to enable the Corporation to bring suit to enforce such rights in accordance with the terms of such insurance policy. The Corporation shall pay or reimburse all expenses actually and reasonably incurred by Indemnitee in connection with such subrogation.

(c) The Corporation shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable hereunder (including, but not limited to, judgments, fines, ERISA excise taxes or penalties, and amounts paid in settlement) if and to the extent that Indemnitee has otherwise actually received such payment under this Agreement or any insurance policy, contract, agreement or otherwise.

Section 7. Certain Definitions. For purposes of this Agreement, the following definitions shall apply:

(a) The term “action, suit or proceeding” shall be broadly construed and shall include, without limitation, the investigation, preparation, prosecution, defense, settlement, arbitration and appeal of, and the giving of testimony in, any threatened, pending or completed claim, action, suit or proceeding, whether civil, criminal, administrative or investigative.

(b) The term “by reason of the fact that Indemnitee is or was a director, officer, employee or agent of the Corporation, or while serving as a director or officer of the Corporation, is or was serving or has agreed to serve at the request of the Corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust, employee benefit plan or other enterprise” shall be broadly construed and shall include, without limitation, any actual or alleged act or omission to act.

(c) The term “expenses” shall be broadly and reasonably construed and shall include, without limitation, all direct and indirect costs of any type or nature whatsoever (including, without limitation, all attorneys’ fees and related disbursements, appeal bonds, other out-of-pocket costs and reasonable compensation for time spent by Indemnitee for which Indemnitee is not otherwise compensated by the Corporation or any third party, provided that the rate of compensation and estimated time involved is approved by the Board, which approval shall not be unreasonably withheld), actually and reasonably incurred by Indemnitee in connection with either the investigation, defense or appeal of a proceeding or establishing or enforcing a right to indemnification under this Agreement, Section 145 of the General Corporation Law of the State of Delaware or otherwise.

(d) The term “judgments, fines and amounts paid in settlement” shall be broadly construed and shall include, without limitation, all direct and indirect payments of any type or nature whatsoever including, without limitation, all penalties and amounts required to be forfeited or reimbursed to the Corporation, as well as any penalties or excise taxes assessed on a person with respect to an employee benefit plan).

(e) The term “Corporation” shall include, without limitation and in addition to the resulting corporation, any constituent corporation (including any constituent of a constituent) absorbed in a consolidation or merger which, if its separate existence had continued, would have had power and authority to indemnify its directors, officers, and employees or agents, so that any person who is or was a director, officer, employee or agent of such constituent corporation, or is or was serving at the request of such constituent corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust, employee benefit plan or other enterprise, shall stand in the same position under the provisions of this Agreement with respect to the resulting or surviving corporation as he or she would have with respect to such constituent corporation if its separate existence had continued.

(f) The term “other enterprises” shall include, without limitation, employee benefit plans.

(g) The term “serving at the request of the Corporation” shall include, without limitation, any service as a director, officer, employee or agent of the Corporation which imposes duties on, or involves services by, such director, officer, employee or agent with respect to an employee benefit plan, its participants or beneficiaries.

(h) A person who acted in good faith and in a manner such person reasonably believed to be in the interest of the participants and beneficiaries of an employee benefit plan shall be deemed to have acted in a manner “not opposed to the best interests of the Corporation” as referred to in this Agreement.

(i)    “Change in Control” means a “Change in Control” as defined in the Corporation’s compensation or equity plans, or any of them.

(j)    “Independent Legal Counsel” means a law firm, or a member of a law firm, that is experienced in matters of corporation law and neither is, nor in the past three years has been, retained to represent: (i) the Corporation, the Indemnitee or one of the other directors of the Corporation in any matter material to any such party, or (ii) any other party to the action, suit or proceeding giving rise to a claim for indemnification hereunder. Independent Legal Counsel shall be selected by the Corporation, with the approval of Indemnitee, which approval will not be unreasonably withheld; provided, however, that Independent Legal Counsel shall be selected by Indemnitee, with the approval of the Board of Directors, which approval will not be unreasonably withheld (i) from and after the occurrence of a Change in Control, and (ii) in connection with an action, suit or proceeding by or in the right of the Corporation authorized or not disapproved by the Board of Directors alleging claims against Indemnitee that, if sustained, reasonably might give rise to a judgment for money damages of more than $1,000,000 and/or injunctive relief (“Company Authorized Proceeding”). Anything herein to the contrary notwithstanding, if Indemnitee and the Corporation are unable to agree with reasonable promptness on the selection of the Independent Legal Counsel, such counsel shall be selected by lot from among the ten (10) law firms which, according to publicly available sources, have the most lawyers practicing in offices located in New York, the ten (10) law firms which have the most lawyers practicing in offices located in New Jersey, and the ten (10) law firms which have the most lawyers practicing in offices located in Delaware. The Corporation shall contact these law firms in order of their selection by lot from the total pool of thirty (30) firms, requesting each such firm to accept an engagement hereunder until one of such firms qualifies hereunder and accepts the engagement. The fees and costs of Independent Legal Counsel shall be paid by the Corporation.

Section 8. Limitation on Indemnification. Notwithstanding any other provision herein to the contrary, the Corporation shall not be obligated pursuant to this Agreement:

(a) Claims Initiated by Indemnitee. To indemnify or advance expenses to Indemnitee with respect to an action, suit or proceeding (or part thereof) initiated by Indemnitee, except with respect to an action, suit or proceeding brought to establish or enforce a right to indemnification (which shall be governed by the provisions of Section 8(b) of this Agreement), unless such action, suit or proceeding (or part thereof) was authorized or consented to by the Board of Directors of the Corporation.

(b) Action for Indemnification. To indemnify Indemnitee for any expenses incurred by Indemnitee with respect to any action, suit or proceeding instituted by Indemnitee to enforce or interpret this Agreement, unless Indemnitee is successful in establishing Indemnitee’s right to indemnification in such action, suit or proceeding, in whole or in part, or unless and to the extent that the court in such action, suit or proceeding shall determine that, despite Indemnitee’s failure to establish their right to indemnification, Indemnitee is entitled to indemnity for such expenses; provided, however, that nothing in this Section 8(b) is intended to limit the Corporation’s obligation with respect to the advancement of expenses to Indemnitee in connection with any such action, suit or proceeding instituted by Indemnitee to enforce or interpret this Agreement, as provided in Section 4 hereof.

(c) Section 16 Violations. To indemnify Indemnitee on account of any proceeding with respect to which final judgment is rendered against Indemnitee for payment or an accounting of profits arising from the purchase or sale by Indemnitee of securities in violation of Section 16(b) of the Securities Exchange Act of 1934, as amended, or any similar successor statute.

(d) Non-compete and Non-disclosure. To indemnify Indemnitee in connection with proceedings or claims involving the enforcement of non-compete and/or non-disclosure agreements or the non-compete and/or non-disclosure provisions of employment, consulting or similar agreements (including, without limitation, the Corporation’s Detrimental Conduct Agreements and Proprietary Information and Non-Solicitation Agreements) the Indemnitee may be a party to with the Corporation, or any subsidiary of the Corporation or any other applicable foreign or domestic corporation, partnership, joint venture, trust or other enterprise, if any.

Section 9. Certain Settlement Provisions. The Corporation shall have no obligation to indemnify Indemnitee under this Agreement for amounts paid in settlement of any action, suit or proceeding without the Corporation’s prior written consent, which shall not be unreasonably withheld. The Corporation shall not settle any action, suit or proceeding in any manner that would impose any fine or other obligation on Indemnitee without Indemnitee’s prior written consent, which shall not be unreasonably withheld.

Section 10. Savings Clause. If any provision or provisions of this Agreement shall be invalidated on any ground by any court of competent jurisdiction, then the Corporation shall nevertheless indemnify Indemnitee as to costs, charges and expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement with respect to any action, suit or proceeding, whether civil, criminal, administrative or investigative, including an action by or in the right of the Corporation, to the full extent permitted by any applicable portion of this Agreement that shall not have been invalidated and to the full extent permitted by applicable law.

Section 11. Contribution. In order to provide for just and equitable contribution in circumstances in which the indemnification provided for herein is held by a court of competent jurisdiction to be unavailable to Indemnitee in whole or in part, it is agreed that, in such event, the Corporation shall, to the fullest extent permitted by law, contribute to the payment of Indemnitee’s costs, charges and expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement with respect to any action, suit or proceeding, whether civil, criminal, administrative or investigative, in an amount that is just and equitable in the circumstances, taking into account, among other things, contributions by other directors and officers of the Corporation or others pursuant to indemnification agreements or otherwise; provided, that, without limiting the generality of the foregoing, such contribution shall not be required where such holding by the court is due to (i) the failure of Indemnitee to meet the standard of conduct set forth in Section 1 hereof, or (ii) any limitation on indemnification set forth in Section 6(c), 8 or 9 hereof.

Section 12. Form and Delivery of Communications. Any notice, request or other communication required or permitted to be given to the parties under this Agreement shall be in writing and either delivered in person or sent by telecopy, telex, telegram, overnight mail or courier service, or certified or registered mail, return receipt requested, postage prepaid, to the parties at the following addresses (or at such other addresses for a party as shall be specified by like notice):

If to the Corporation:

The Dun & Bradstreet Corporation

103 John F. Kennedy Parkway

Short Hills, NJ 07078

Attn: General Counsel

Facsimile: ____________________

If to Indemnitee:

_____________________________

_____________________________

_____________________________

Facsimile: ____________________

Section 13. Subsequent Legislation. If the General Corporation Law of Delaware is amended after adoption of this Agreement to expand further the indemnification permitted to directors or officers, then the Corporation shall indemnify Indemnitee to the fullest extent permitted by the General Corporation Law of Delaware, as so amended.

Section 14. Nonexclusivity. The provisions for indemnification and advancement of expenses set forth in this Agreement shall not be deemed exclusive of any other rights which Indemnitee may have under any provision of law, the Corporation’s Certificate of Incorporation or ByLaws, in any court in which a proceeding is brought, the vote of the Corporation’s stockholders or disinterested directors, other agreements or otherwise, and Indemnitee’s rights hereunder shall continue after Indemnitee has ceased acting as an agent of the Corporation and shall inure to the benefit of the heirs, executors and administrators of Indemnitee. However, no amendment or alteration of the Corporation’s Certificate of Incorporation or ByLaws or any other agreement shall adversely affect the rights provided to Indemnitee under this Agreement

Section 15. Enforcement. The Corporation shall be precluded from asserting in any judicial proceeding that the procedures and presumptions of this Agreement are not valid, binding and enforceable. The Corporation agrees that its execution of this Agreement shall constitute a stipulation by which it shall be irrevocably bound in any court of competent jurisdiction in which a proceeding by Indemnitee for enforcement of his rights hereunder shall have been commenced, continued or appealed, that its obligations set forth in this Agreement are unique and special, and that failure of the Corporation to comply with the provisions of this Agreement will cause irreparable and irremediable injury to Indemnitee, for which a remedy at law will be inadequate. As a result, in addition to any other right or remedy Indemnitee may have at law or in equity with respect to breach of this Agreement, Indemnitee shall be entitled to injunctive or mandatory relief directing specific performance by the Corporation of its obligations under this Agreement.

Section 16. Interpretation of Agreement. It is understood that the parties hereto intend this Agreement to be interpreted and enforced so as to provide indemnification to Indemnitee to the fullest extent now or hereafter permitted by law.

Section 17. Entire Agreement. This Agreement and the documents expressly referred to herein constitute the entire agreement between the parties hereto with respect to the matters covered hereby, and any other prior or contemporaneous oral or written understandings or agreements with respect to the matters covered hereby are expressly superceded by this Agreement.

Section 18. Modification and Waiver. No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provision hereof (whether or not similar) nor shall such waiver constitute a continuing waiver.

Section 19. Successor and Assigns. All of the terms and provisions of this Agreement shall be binding upon, shall inure to the benefit of and shall be enforceable by the parties hereto and their respective successors, assigns, heirs, executors, administrators and legal representatives. The Corporation shall require and cause any direct or indirect successor (whether by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Corporation, by written agreement in form and substance reasonably satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Corporation would be required to perform if no such succession had taken place.

Section 20. Service of Process and Venue. For purposes of any claims or proceedings to enforce this agreement, the Corporation consents to the jurisdiction and venue of any federal or state court of competent jurisdiction in the states of Delaware and New Jersey, and waives and agrees not to raise any defense that any such court is an inconvenient forum or any similar claim.

Section 21. Supercedes Prior Agreement. This Agreement supercedes any prior indemnification agreement between Indemnitee and the Corporation or its predecessors.

Section 22. Governing Law. This Agreement shall be governed exclusively by and construed according to the laws of the State of Delaware, as applied to contracts between Delaware residents entered into and to be performed entirely within Delaware. If a court of competent jurisdiction shall make a final determination that the provisions of the law of any state other than Delaware govern indemnification by the Corporation of its officers and directors, then the indemnification provided under this Agreement shall in all instances be enforceable to the fullest extent permitted under such law, notwithstanding any provision of this Agreement to the contrary.

Section 23. Employment Rights. Nothing in this Agreement is intended to create in Indemnitee any right to employment or continued employment.

Section 24. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed to be an original and all of which together shall be deemed to be one and the same instrument, notwithstanding that both parties are not signatories to the original or same counterpart.

Section 25. Headings. The section and subsection headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement.

IN WITNESS WHEREOF, this Agreement has been duly executed and delivered to be effective as of the date first above written.

THE DUN & BRADSTREET CORPORATION

By ________________________________

Name:

Title:                             

INDEMNITEE:

By __________________________________

Name:

#PageNum#

EX-31.1

Exhibit 31.1

CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER

I, Sara Mathew, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of The Dun & Bradstreet Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s Board of Directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

By:		/s/ Sara Mathew
		Sara Mathew
		Chairman and Chief Executive Officer
Date:	November 1, 2012

EX-31.2

Exhibit 31.2

CERTIFICATION OF THE CHIEF FINANCIAL OFFICER

I, Richard H. Veldran, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of The Dun & Bradstreet Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s Board of Directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

By:		/s/ Richard H. Veldran
		Richard H. Veldran
		Senior Vice President and Chief Financial Officer
Date:	November 1, 2012

EX-32.1

Exhibit 32.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER

PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report on Form 10-Q of The Dun & Bradstreet Corporation (the “Company”) for the period ending September 30, 2012 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Sara Mathew, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) the Report fully complies with the requirements of Section 13(a) or 15(d), as applicable, of the Securities Exchange Act of 1934; and

(2) the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

By:	/s/ Sara Mathew
	Sara Mathew
	Chairman and Chief Executive Officer
November 1, 2012

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to The Dun & Bradstreet Corporation and will be retained by The Dun & Bradstreet Corporation and furnished to the Securities and Exchange Commission or its staff upon request. The foregoing certification is being furnished solely pursuant to 18 U.S.C. Section 1350 and is not being filed as part of the Report or as a separate disclosure document.

EX-32.2

Exhibit 32.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER

PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report on Form 10-Q of The Dun & Bradstreet Corporation (the “Company”) for the period ending September 30, 2012 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Richard H. Veldran, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) the Report fully complies with the requirements of Section 13(a) or 15(d), as applicable, of the Securities Exchange Act of 1934; and

(2) the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

By:	/s/ Richard H. Veldran
	Richard H. Veldran
	Senior Vice President and Chief Financial Officer
November 1, 2012

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to The Dun & Bradstreet Corporation and will be retained by The Dun & Bradstreet Corporation and furnished to the Securities and Exchange Commission or its staff upon request. The foregoing certification is being furnished solely pursuant to 18 U.S.C. Section 1350 and is not being filed as part of the Report or as a separate disclosure document.

XML

Earnings Per Share (Detail) (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Earnings Per Share Disclosure [Line Items]
Net Income Attributable to D&B	$ 79.6	$ 58.4	$ 199.5	$ 166.8
Less: Allocation to Participating Securities	0	(0.1)	(0.1)	(0.2)
Net Income Attributable to D&B Common Shareholders - Basic and Diluted	$ 79.6	$ 58.3	$ 199.4	$ 166.6
Weighted Average Number of Shares Outstanding - Basic (in shares)	44.8	48.9	46.4	49.2
Dilutive Effect of Our Stock Incentive Plans (in shares)	0.4	0.2	0.4	0.4
Weighted Average Number of Shares Outstanding - Diluted (in shares)	45.2	49.1	46.8	49.6
Basic Earnings Per Share of Common Stock Attributable to D&B Common Shareholders (in dollars per share)	$ 1.77	$ 1.19	$ 4.29	$ 3.38
Diluted Earnings Per Share of Common Stock Attributable to D&B Common Shareholders (in dollars per share)	$ 1.76	$ 1.19	$ 4.26	$ 3.36

XML

Financial Instruments - Additional Information (Detail) (USD $)	3 Months Ended	9 Months Ended		3 Months Ended	9 Months Ended		3 Months Ended		9 Months Ended		3 Months Ended		9 Months Ended	1 Months Ended			3 Months Ended
	Mar. 30, 2012	Sep. 30, 2012	Sep. 30, 2011	Mar. 30, 2012 Swap Arrangement	Sep. 30, 2012 Swap Arrangement	Mar. 11, 2012 Swap Arrangement	Mar. 30, 2012 Swap Arrangement Non-Operating Income (Expenses) - Net	Sep. 30, 2011 Swap Arrangement Non-Operating Income (Expenses) - Net	Sep. 30, 2012 Swap Arrangement Non-Operating Income (Expenses) - Net	Sep. 30, 2011 Swap Arrangement Non-Operating Income (Expenses) - Net	Mar. 30, 2012 Swap Arrangement Non-Operating Income (Expenses) - Net Long-Term Fixed-Rate Notes	Sep. 30, 2011 Swap Arrangement Non-Operating Income (Expenses) - Net Long-Term Fixed-Rate Notes	Sep. 30, 2011 Swap Arrangement Non-Operating Income (Expenses) - Net Long-Term Fixed-Rate Notes	Oct. 25, 2011 Cash Flow Hedging	Jan. 30, 2009 Cash Flow Hedging	Dec. 30, 2008 Cash Flow Hedging	Mar. 30, 2012 Operating Costs	Mar. 30, 2012 Selling and Administrative Expenses	Dec. 31, 2010 Senior Notes Due November 2015	Nov. 29, 2010 Senior Notes Due November 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-Term Fixed-Rate Notes, face value																				$ 300,000,000
Interest rate derivatives accounted for as fair value hedges, aggregate notional amount																			125,000,000	125,000,000
Gain (loss) recognized in income on derivatives							(800,000)	4,100,000	(300,000)	5,900,000	500,000	(4,000,000)	(5,800,000)
Cash received from interest rate derivatives terminated				5,000,000	5,000,000
Carrying amount of hedged debt					4,200,000	4,900,000
Amortization of carrying amount of hedged debt					700,000
Interest rate derivatives accounted as cash flows hedges, aggregate notional amount															25,000,000	75,000,000
Other income expenses Net														300,000
Credit facility, maximum borrowing capacity															650,000,000	650,000,000
Notional amounts of foreign exchange contracts		277,400,000	379,000,000
Impairment of assets	$ 12,900,000	$ 16,100,000	$ 0														$ 4,100,000	$ 8,800,000

XML

Segment Information - Additional Information (Detail)	3 Months Ended	9 Months Ended
	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Segment Reporting Disclosure [Line Items]
Commercial arrangement with TSR to provide global data to its Japanese customers, term		10 years
Asia Pacific
Segment Reporting Disclosure [Line Items]
Percentage of Revenue from Divested and Other Businesses	38.00%	12.00%	37.00%
Maximum
Segment Reporting Disclosure [Line Items]
Percentage of total revenue from single customer		10.00%

XML

Fair Values of Derivative Instruments in Consolidated Balance Sheet (Detail) (USD $) In Millions, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
Derivatives, Fair Value [Line Items]
Assets Derivatives	$ 0.1	$ 5.0
Liabilities Derivative	0.9	0.7
Derivatives designated as hedging instruments
Derivatives, Fair Value [Line Items]
Assets Derivatives	0	4.3
Liabilities Derivative	0	0
Derivatives designated as hedging instruments | Other Accrued and Current Liabilities | Swap Arrangement
Derivatives, Fair Value [Line Items]
Liabilities Derivative	0	0
Derivatives designated as hedging instruments | Other Current Assets | Swap Arrangement
Derivatives, Fair Value [Line Items]
Assets Derivatives	0	4.3
Derivatives not designated as hedging instruments
Derivatives, Fair Value [Line Items]
Assets Derivatives	0.1	0.7
Liabilities Derivative	0.9	0.7
Derivatives not designated as hedging instruments | Other Accrued and Current Liabilities | Foreign exchange forward contracts
Derivatives, Fair Value [Line Items]
Liabilities Derivative	0.9	0.7
Derivatives not designated as hedging instruments | Other Accrued and Current Liabilities | Foreign exchange option contracts
Derivatives, Fair Value [Line Items]
Liabilities Derivative	0	0
Derivatives not designated as hedging instruments | Other Current Assets | Foreign exchange forward contracts
Derivatives, Fair Value [Line Items]
Assets Derivatives	0	0.7
Derivatives not designated as hedging instruments | Other Current Assets | Foreign exchange option contracts
Derivatives, Fair Value [Line Items]
Assets Derivatives	$ 0.1	$ 0

XML

Components of Net Periodic (Income) Cost Associated with Pension Plans and Postretirement Benefit Obligations (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Pension Plans
Components of Net Periodic Cost (Income):
Service cost	$ 1.3	$ 1.1	$ 4.4	$ 4.5
Interest cost	19.0	21.2	56.5	63.9
Expected return on plan assets	(25.0)	(27.8)	(74.7)	(82.9)
Amortization of prior service cost (credit)	0.1	0	0.3	0.2
Recognized actuarial loss (gain)	9.0	6.5	26.7	20.1
Net Periodic Cost (Income)	4.4	1.0	13.2	5.8
Postretirement Benefit Obligations
Components of Net Periodic Cost (Income):
Service cost	0.3	0	0.5	0.2
Interest cost	0.1	0.2	0.5	0.7
Expected return on plan assets	0	0	0	0
Amortization of prior service cost (credit)	(2.4)	(2.4)	(7.4)	(7.4)
Recognized actuarial loss (gain)	(0.9)	(0.6)	(1.9)	(1.7)
Net Periodic Cost (Income)	$ (2.9)	$ (2.8)	$ (8.3)	$ (8.2)

XML

Restructuring Reserves and Utilization Related to Financial Flexibility Initiatives (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended							9 Months Ended
	Sep. 30, 2012	Jun. 30, 2012	Mar. 30, 2012	Sep. 30, 2011	Jun. 30, 2011	Mar. 30, 2011		Sep. 30, 2012	Sep. 30, 2011
Restructuring Reserve [Rollforward]
Beginning Balance	$ 15.6		$ 10.5	$ 12.8		$ 9.4		$ 10.5	$ 9.4
Charge Taken during the period	4.8	9.3	9.1	5.3	8.5	4.2		23.2	18.0
Payments during the period	(10.4)	(8.3)	(5.0)	(6.9)	(4.2)			(23.7)	(15.2)
Payments/Pension Plan Settlement						(5.1)	[1]
Ending Balance	10.0	15.6	14.6	11.2	12.8	8.5		10.0	11.2
Severance and Termination
Restructuring Reserve [Rollforward]
Beginning Balance	12.7		8.3	9.5		8.9		8.3	8.9
Charge Taken during the period	1.6	9.2	6.7	4.6	5.4	4.2			14.2
Payments during the period	(6.7)	(7.5)	(4.0)	(5.5)	(3.9)
Payments/Pension Plan Settlement						(5.1)	[1]
Ending Balance	7.6	12.7	11.0	8.6	9.5	8.0		7.6	8.6
Lease Termination Obligations and Other Exit Costs
Restructuring Reserve [Rollforward]
Beginning Balance	2.9		2.2	3.3		0.5		2.2	0.5
Charge Taken during the period	3.2	0.1	2.4	0.7	3.1	0		5.7	3.8
Payments during the period	(3.7)	(0.8)	(1.0)	(1.4)	(0.3)
Payments/Pension Plan Settlement						0	[1]
Ending Balance	$ 2.4	$ 2.9	$ 3.6	$ 2.6	$ 3.3	$ 0.5		$ 2.4	$ 2.6

[1] We incurred a settlement of $1.0 million in the first quarter of 2011 related to our Canadian Pension Plan.

XML

Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (USD $) In Millions, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
Assets:
Cash Equivalents	$ 47.9	$ 21.6
Other Current Assets | Foreign exchange forward contracts
Assets:
Assets measured at fair value		0.7
Other Current Assets | Foreign exchange option contracts
Assets:
Assets measured at fair value	0.1
Other Current Assets | Swap Arrangement
Assets:
Assets measured at fair value		4.3
Other Accrued and Current Liabilities | Foreign exchange forward contracts
Liabilities:
Liabilities measured at fair value	0.9	0.7
Quoted Prices in Active Markets for Identical Assets (Level I)
Assets:
Cash Equivalents	47.9	21.6
Quoted Prices in Active Markets for Identical Assets (Level I) | Other Current Assets | Foreign exchange forward contracts
Assets:
Assets measured at fair value		0
Quoted Prices in Active Markets for Identical Assets (Level I) | Other Current Assets | Foreign exchange option contracts
Assets:
Assets measured at fair value	0
Quoted Prices in Active Markets for Identical Assets (Level I) | Other Current Assets | Swap Arrangement
Assets:
Assets measured at fair value		0
Quoted Prices in Active Markets for Identical Assets (Level I) | Other Accrued and Current Liabilities | Foreign exchange forward contracts
Liabilities:
Liabilities measured at fair value	0	0
Significant Other Observable Inputs (Level II)
Assets:
Cash Equivalents	0	0
Significant Other Observable Inputs (Level II) | Other Current Assets | Foreign exchange forward contracts
Assets:
Assets measured at fair value		0.7
Significant Other Observable Inputs (Level II) | Other Current Assets | Foreign exchange option contracts
Assets:
Assets measured at fair value	0.1
Significant Other Observable Inputs (Level II) | Other Current Assets | Swap Arrangement
Assets:
Assets measured at fair value		4.3
Significant Other Observable Inputs (Level II) | Other Accrued and Current Liabilities | Foreign exchange forward contracts
Liabilities:
Liabilities measured at fair value	0.9	0.7
Significant Unobservable Inputs (Level III)
Assets:
Cash Equivalents	0	0
Significant Unobservable Inputs (Level III) | Other Current Assets | Foreign exchange forward contracts
Assets:
Assets measured at fair value		0
Significant Unobservable Inputs (Level III) | Other Current Assets | Foreign exchange option contracts
Assets:
Assets measured at fair value	0
Significant Unobservable Inputs (Level III) | Other Current Assets | Swap Arrangement
Assets:
Assets measured at fair value		0
Significant Unobservable Inputs (Level III) | Other Accrued and Current Liabilities | Foreign exchange forward contracts
Liabilities:
Liabilities measured at fair value	$ 0	$ 0

XML

Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2012

Text Block [Abstract]

Earnings Per Share

	Three months ended September 30,					Nine months ended September 30,
	2012		2011			2012			2011
Net Income Attributable to D&B	$	79.6	$	58.4		$	199.5		$	166.8
Less: Allocation to Participating Securities	—		(0.1		)	(0.1		)	(0.2		)
Net Income Attributable to D&B Common Shareholders - Basic and Diluted	$	79.6	$	58.3		$	199.4		$	166.6
Weighted Average Number of Shares Outstanding - Basic	44.8		48.9			46.4			49.2
Dilutive Effect of Our Stock Incentive Plans	0.4		0.2			0.4			0.4
Weighted Average Number of Shares Outstanding - Diluted	45.2		49.1			46.8			49.6
Basic Earnings Per Share of Common Stock Attributable to D&B Common Shareholders	$	1.77	$	1.19		$	4.29		$	3.38
Diluted Earnings Per Share of Common Stock Attributable to D&B Common Shareholders	$	1.76	$	1.19		$	4.26		$	3.36

Share Repurchases

Our share repurchases were as follows:

	For the Three Months Ended September 30,								For the Nine Months Ended September 30,
Program	2012				2011				2012				2011
	Shares		$ Amount		Shares		$ Amount		Shares		$ Amount		Shares		$ Amount
	(Dollar amounts in millions)								(Dollar amounts in millions)
Share Repurchase Programs	435,733	(a)	$	36.0	501,691	(b)	$	33.1	3,404,436	(a)	$	236.0	976,335	(b)	$	71.5
Repurchases to Mitigate the Dilutive Effect of the Shares Issued Under Our Stock Incentive Plans and Employee Stock Purchase Plan (“ESPP”)	—	(c)	—		308,809	(c)	21.0		59,563	(c)	4.0		666,365	(c)	50.1
Total Repurchases	435,733		$	36.0	810,500		$	54.1	3,463,999		$	240.0	1,642,700		$	121.6

(a) In August 2012, our Board of Directors approved a $500 million increase to our existing $500 million share repurchase program, for a total program authorization of $1 billion. The then existing $500 million program was announced in October 2011 and commenced in November 2011 upon completion of our then existing $200 million share repurchase program. We anticipate that this program will be completed in 2014.

(b) In February 2009, our Board of Directors approved a $200 million share repurchase program, which commenced in December 2009 upon completion of our then existing $400 million, two-year repurchase program. This program was completed in November 2011.

(c) In May 2010, our Board of Directors approved a four-year, five million share repurchase program to mitigate the dilutive effect of the shares issued under our stock incentive plans and ESPP. This program commenced in October 2010 and expires in October 2014. We anticipate that this program will be completed by October 2014.

XML

Segment Information (Parenthetical) (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended				9 Months Ended
	Sep. 30, 2012		Sep. 30, 2011		Sep. 30, 2012		Sep. 30, 2011
Segment Reporting Disclosure [Line Items]
Corporate and Other	$ (30.0)		$ (31.8)		$ (95.3)		$ (91.2)
Interest Income	0.2		0.4		0.5		1.3
Interest Expense	(9.5)		(9.1)		(27.8)		(27.4)
Other Income (Expense) - Net	(15.4)		(8.9)		(8.8)		(20.5)
Non-Operating Income (Expense) - Net	(24.7)	[1],[2]	(17.6)	[1],[2]	(36.1)	[1],[2]	(46.6)	[1],[2]
Corporate Costs
Segment Reporting Disclosure [Line Items]
Corporate and Other	(13.1)		(14.0)		(35.5)		(40.6)
Restructuring accruals
Segment Reporting Disclosure [Line Items]
Corporate and Other	(4.8)		(5.3)		(23.2)		(18.0)
Strategic Technology Investment (MaxCV)
Segment Reporting Disclosure [Line Items]
Corporate and Other	(6.7)		(12.5)		(25.6)		(32.6)
Legal Fees And Other Shut-Down Costs Associated with Matters in China
Segment Reporting Disclosure [Line Items]
Corporate and Other	$ (5.4)		$ 0		$ (11.0)		$ 0

[1] The following table summarizes "Non-Operating Income (Expense):" For the Three Months Ended For the Nine Months Ended September 30, September 30, 2012 2011 2012 2011 Interest Income $ 0.2 $ 0.4 $ 0.5 $ 1.3 Interest Expense (9.5 ) (9.1 ) (27.8 ) (27.4 ) Other Income (Expense) - Net (15.4) (8.9 ) (8.8) (20.5 ) Non-Operating Income (Expense) - Net $ (24.7 ) $ (17.6 ) $ (36.1 ) $ (46.6 )

[2] The following table summarizes "Corporate and Other:" For the Three Months Ended For the Nine Months Ended September 30, September 30, 2012 2011 2012 2011 Corporate Costs $ (13.1 ) $ (14.0 ) $ (35.5 ) $ (40.6 ) Restructuring Expense (4.8 ) (5.3 ) (23.2 ) (18.0 ) Strategic Technology Investment or MaxCV (6.7 ) (12.5 ) (25.6 ) (32.6 ) Legal Fees Associated with Allegations in China (5.4 ) 0.0 (11.0 ) 0.0 Total Corporate and Other $ (30.0 ) $ (31.8) $ (95.3 ) $ (91.2 )

XML

Other Accrued and Current Liabilities (Detail) (USD $) In Millions, unless otherwise specified	Sep. 30, 2012		Mar. 30, 2012	Dec. 31, 2011
Schedule of Accrued Liabilities [Line Items]
Other Accrued and Current Liabilities	$ 132.2			$ 153.6
Spin-Off Obligation
Schedule of Accrued Liabilities [Line Items]
Other Accrued and Current Liabilities	1.6	[1]	1.6	20.5	[1]
Restructuring accruals
Schedule of Accrued Liabilities [Line Items]
Other Accrued and Current Liabilities	10.0			10.5
Professional Fees
Schedule of Accrued Liabilities [Line Items]
Other Accrued and Current Liabilities	37.8			33.6
Operating Expenses
Schedule of Accrued Liabilities [Line Items]
Other Accrued and Current Liabilities	42.0			35.1
Other Accrued Liabilities
Schedule of Accrued Liabilities [Line Items]
Other Accrued and Current Liabilities	$ 40.8			$ 53.9

[1] In 2000, as part of a spin-off transaction under which Moody’s Corporation (“Moody’s”) and D&B became independent of one another, Moody’s and D&B entered into a Tax Allocation Agreement (“TAA”). Under the TAA, Moody’s and D&B agreed that Moody’s would be entitled to deduct the compensation expense associated with the exercise of Moody’s stock options (including Moody’s stock options exercised by D&B employees) and D&B would be entitled to deduct the compensation expense associated with the exercise of D&B stock options (including D&B stock options exercised by employees of Moody’s). Put simply, the tax deduction would go to the company that granted the stock options, rather than to the employer of the individual exercising the stock options. In 2002 and 2003, the Internal Revenue Service (“IRS”) issued rulings that clarified that, under the circumstances applicable to Moody’s and D&B, the compensation expense deduction belongs to the employer of the option grantee and not to the issuer of the option (e.g., D&B would be entitled to deduct the compensation expense associated with D&B employees exercising Moody’s options and Moody’s would be entitled to deduct the compensation expense associated with Moody’s employees exercising D&B options). We have filed tax returns for 2001 through 2011 consistent with the IRS rulings. We may be required to reimburse Moody’s for the loss of compensation expense deductions relating to tax years 2008 to 2010 of approximately $1.6 million in the aggregate for such years. This liability was reduced from $20.5 million at December 31, 2011 to $1.6 million during the first quarter of 2012 due to expiration of the statute of limitations. In 2005 and 2006, we paid Moody’s approximately $30.1 million in the aggregate, which represented the incremental tax benefits realized by D&B for tax years 2003-2005 from using the filing method consistent with the IRS rulings. In February 2011, we paid Moody’s an additional sum of approximately $2.5 million, for tax years 2003-2005. While not material, we may also be required to pay, in the future, amounts in addition to the approximately $1.6 million referenced above based upon interpretations by the parties of the TAA and the IRS rulings.

XML

Borrowings (Parenthetical) (Detail) (USD $) In Millions, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
Debt Instrument [Line Items]
Long-Term Fixed-Rate Notes, discount	$ 0.7	$ 0.8

XML

Supplemental Geographic and Customer Solution Set Information (Parenthetical) (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended	9 Months Ended
	Sep. 30, 2011	Sep. 30, 2012		Sep. 30, 2011	Dec. 31, 2011
Segment Reporting Disclosure [Line Items]
Goodwill		$ 607.8	[1]		$ 598.4	[1]
Asia Pacific
Segment Reporting Disclosure [Line Items]
Goodwill		232.6	[1]		222.0	[1]
Percentage of Revenue from Divested and Other Businesses	38.00%	12.00%		37.00%
North America
Segment Reporting Disclosure [Line Items]
Goodwill		266.8	[1]		266.0	[1]
Percentage of Revenue from Divested and Other Businesses	1.00%			1.00%
Europe and Other International Markets
Segment Reporting Disclosure [Line Items]
Goodwill		$ 108.4	[1]		$ 110.4	[1]

[1] The increase in goodwill in the Asia Pacific operating segment of $232.6 million at September 31, 2012 from $222.0 million at December 31, 2011 was primarily due to the positive impact of foreign currency translation. The decrease in goodwill in the Europe and Other International Markets operating segment to $108.4 million at September 30, 2012 from $110.4 million at December 31, 2011 was primarily due to the negative impact of foreign currency translation.

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Divestitures and Other Businesses - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended			9 Months Ended		1 Months Ended	9 Months Ended	12 Months Ended	1 Months Ended	9 Months Ended	12 Months Ended	1 Months Ended	9 Months Ended	12 Months Ended	9 Months Ended	12 Months Ended	1 Months Ended	9 Months Ended	12 Months Ended	9 Months Ended
	Sep. 30, 2012	Mar. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011	Feb. 28, 2012 Japanese Joint Venture Domestic	Sep. 30, 2012 Japanese Joint Venture Domestic	Dec. 31, 2011 Japanese Joint Venture Domestic	Feb. 28, 2012 AllBusiness.com, Inc.	Sep. 30, 2012 AllBusiness.com, Inc.	Dec. 31, 2011 AllBusiness.com, Inc.	Jan. 30, 2012 Chinese Market Research Joint Venture joint_venture	Sep. 30, 2012 Chinese Market Research Joint Venture	Dec. 31, 2011 Chinese Market Research Joint Venture	Sep. 30, 2012 Shanghai Roadway D&B Marketing Services Co Ltd.	Dec. 31, 2011 Shanghai Roadway D&B Marketing Services Co Ltd.	Jan. 30, 2012 Purisma Incorporated	Sep. 30, 2012 Purisma Incorporated	Dec. 31, 2011 Purisma Incorporated	Sep. 30, 2012 Corporate Shutdown Costs [Member] Shanghai Roadway D&B Marketing Services Co Ltd.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Divested and other revenue	$ 0		$ 28.6	$ 18.1	$ 79.5										$ 5.4	$ 22.0
Divested and other business, operating income (loss)															(14.5)	2.0
Shut-down costs related to the Roadway business																				11.0
Impairment charges		12.9		16.1	0
Proceed from divestiture of business						4.5			0.4			5.0					2.0
Pre-tax gain (loss) from sale of business							3.0			(0.4)			1.4					2.0
Revenue	413.2		439.4	1,199.9	1,259.8			64.0			4.0			16.0					4.0
Commercial arrangement with TSR to provide global data to its Japanese customers, term				10 years			10 years
Commercial arrangement with TSR to provide global data to its Japanese customers, aggregate future cash payments	$ 140			$ 140
Number of joint venture companies sold												2

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Pension and Postretirement Benefits - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	12 Months Ended	9 Months Ended		3 Months Ended
	Dec. 31, 2011	Sep. 30, 2012 Non-Qualified U.S. and non-U.S. pension plans	Sep. 30, 2012 Postretirement Benefit Plans	Mar. 30, 2011 Non-U.S. plans
Pension and Other Postretirement Benefits Disclosure [Line Items]
Defined benefit plan, expected contribution to pension plans	$ 26.0
Defined benefit plan, expected contribution to postretirement plan	6.0
Employer contribution to employee benefit plans		17.9	2.4
Settlement related to Pension Plan				$ 1.0

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Basis of Presentation

9 Months Ended

Sep. 30, 2012

Text Block [Abstract]

Basis of Presentation

Basis of Presentation

These interim unaudited consolidated financial statements have been prepared in accordance with the instructions to the Quarterly Report on Form 10-Q. They should be read in conjunction with the consolidated financial statements and related notes, which appear in The Dun & Bradstreet Corporation’s (“D&B,” the "Company," “we” or “our”) Annual Report on Form 10-K for the year ended December 31, 2011. The unaudited consolidated results for interim periods do not include all disclosures required by accounting principles generally accepted in the United States of America (“GAAP”) for annual financial statements and are not necessarily indicative of results for the full year or any subsequent period. In the opinion of our management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair statement of the unaudited consolidated financial position, results of operations and cash flows at the dates and for the periods presented have been included.

All inter-company transactions have been eliminated in consolidation.

Simultaneously with the sale of the domestic portion of our Japanese operations to Tokyo Shoko Research Ltd. (“TSR”), we entered into a ten-year commercial arrangement to provide TSR with global data for its Japanese competitors and became the exclusive distributor of TSR data to the Worldwide Network. We continue to manage our business through three segments. However, as of January 1, 2012, our Asia Pacific Worldwide Network has been moved out of our Europe and Other International Markets segment and into our Asia Pacific segment.

On January 1, 2012, we began managing our business through the following three segments (all prior periods have been reclassified to reflect the new segment structure):

• North America (which consists of our operations in the United States (“U.S.”) and Canada);

• Asia Pacific (which primarily consists of our operations in Australia, China, India and Asia Pacific Worldwide Network); and

• Europe and Other International Markets (which primarily consists of our operations in the United Kingdom (“UK”), Netherlands, Belgium, Latin America and European Worldwide Network).

Prior to January 1, 2012, we managed and reported our business globally through the following three segments:

• North America (which consisted of our operations in the U.S. and Canada);

• Asia Pacific (which primarily consisted of our operations in Australia, Japan, China and India); and

• Europe and Other International Markets (which primarily consisted of our operations in the UK, Netherlands, Belgium, Latin America and the Worldwide Network).

The financial statements of the subsidiaries outside North America reflect results for the three month and nine month periods ended August 31 in order to facilitate the timely reporting of our unaudited consolidated financial results and unaudited consolidated financial position.

Where appropriate, we have reclassified certain prior year amounts to conform to the current year presentation due to the change in segment structure discussed above.

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Subsequent Events - Additional Information (Detail) (Dividend Declared, USD $)	1 Months Ended
	Oct. 31, 2012
Dividend Declared
Subsequent Event [Line Items]
Dividend declared (in dollars per share)	$ 0.38

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Other Accrued and Current Liabilities (Parenthetical) (Detail) (USD $) In Millions, unless otherwise specified	1 Months Ended	24 Months Ended
	Feb. 27, 2011	Dec. 31, 2006	Sep. 30, 2012	Dec. 31, 2011	Sep. 30, 2012 Spin-Off Obligation		Mar. 30, 2012 Spin-Off Obligation	Dec. 31, 2011 Spin-Off Obligation
Schedule of Accrued Liabilities [Line Items]
Other Accrued and Current Liabilities			$ 132.2	$ 153.6	$ 1.6	[1]	$ 1.6	$ 20.5	[1]
Additional amount paid to Moody's under the Tax Allocation Agreement	$ 2.5	$ 30.1

[1] In 2000, as part of a spin-off transaction under which Moody’s Corporation (“Moody’s”) and D&B became independent of one another, Moody’s and D&B entered into a Tax Allocation Agreement (“TAA”). Under the TAA, Moody’s and D&B agreed that Moody’s would be entitled to deduct the compensation expense associated with the exercise of Moody’s stock options (including Moody’s stock options exercised by D&B employees) and D&B would be entitled to deduct the compensation expense associated with the exercise of D&B stock options (including D&B stock options exercised by employees of Moody’s). Put simply, the tax deduction would go to the company that granted the stock options, rather than to the employer of the individual exercising the stock options. In 2002 and 2003, the Internal Revenue Service (“IRS”) issued rulings that clarified that, under the circumstances applicable to Moody’s and D&B, the compensation expense deduction belongs to the employer of the option grantee and not to the issuer of the option (e.g., D&B would be entitled to deduct the compensation expense associated with D&B employees exercising Moody’s options and Moody’s would be entitled to deduct the compensation expense associated with Moody’s employees exercising D&B options). We have filed tax returns for 2001 through 2011 consistent with the IRS rulings. We may be required to reimburse Moody’s for the loss of compensation expense deductions relating to tax years 2008 to 2010 of approximately $1.6 million in the aggregate for such years. This liability was reduced from $20.5 million at December 31, 2011 to $1.6 million during the first quarter of 2012 due to expiration of the statute of limitations. In 2005 and 2006, we paid Moody’s approximately $30.1 million in the aggregate, which represented the incremental tax benefits realized by D&B for tax years 2003-2005 from using the filing method consistent with the IRS rulings. In February 2011, we paid Moody’s an additional sum of approximately $2.5 million, for tax years 2003-2005. While not material, we may also be required to pay, in the future, amounts in addition to the approximately $1.6 million referenced above based upon interpretations by the parties of the TAA and the IRS rulings.

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Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2012

Text Block [Abstract]

Fair Values of Derivative Instruments in Consolidated Balance Sheet

Fair Values of Derivative Instruments in the Consolidated Balance Sheet

	Asset Derivatives						Liability Derivatives
	September 30, 2012			December 31, 2011			September 30, 2012			December 31, 2011
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments
Interest rate contracts	Other Current Assets	$	—	Other Current Assets	$	4.3	Other Accrued & Current Liabilities	$	—	Other Accrued & Current Liabilities	$	—
Total Derivatives designated as hedging instruments		$	—		$	4.3		$	—		$	—
Derivatives not designated as hedging instruments
Foreign exchange forward contracts	Other Current Assets	$	—	Other Current Assets	$	0.7	Other Accrued & Current Liabilities	$	0.9	Other Accrued & Current Liabilities	$	0.7
Foreign exchange options contracts	Other Current Assets	0.1		Other Current Assets	—		Other Accrued & Current Liabilities	—		Other Accrued & Current Liabilities	—
Total derivatives not designated as hedging instruments		$	0.1		$	0.7		$	0.9		$	0.7
Total Derivatives		$	0.1		$	5.0		$	0.9		$	0.7

Effect of Derivative Instruments on Consolidated Statement of Operations

The Effect of Derivative Instruments on the Consolidated Statement of Operations and Comprehensive Income

Derivatives in Cash Flow Hedging Relationships	Amount of Gain or  (Loss) Recognized in OCI on Derivatives (Effective Portion)								Location of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	Amount of Gain or  (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)										Location of Gain or (Loss)  Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)	Amount of Gain or (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)
	For the Three Months Ended September 30,				For the Nine Months Ended September 30,					For the Three Months Ended September 30,					For the Nine Months Ended September 30,						For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2012		2011		2012		2011			2012		2011			2012		2011				2012		2011		2012		2011
Interest rate contracts	$	0.0	$	0.4	$	0.0	$	1.0	Non-Operating Income (Ex- penses) - Net	$	0.0	$	(0.4	)	$	0.0	$	(1.2	)	Non-Operating Income (Ex- penses) - Net	$	0.0	$	0.0	$	0.0	$	0.0

	Gain or (Loss) Recognized in Income on Derivatives
Derivatives in Fair Value Hedging Relationships	Location	For the Three Months Ended September 30,				For the Nine Months Ended September 30,				Hedged Item	Location	For the Three Months Ended September 30,					For the Nine Months Ended September 30,
		2012		2011		2012		2011				2012		2011			2012			2011
Interest rate contracts	Non-Operating Income (Expenses) - Net	$	0.0	$	4.0	$	0.8	$	5.8	Fixed- rate debt	Non-Operating Income (Expenses) - Net	$	0.0	$	(4.1	)	$	(0.5	)	$	(5.9	)

Our foreign exchange forward and option contracts are not designated as hedging instruments under authoritative guidance.

The Effect of Derivative Instruments on the Consolidated Statement of Operations and Comprehensive Income

Derivatives not Designated as Hedging Instruments	Location of Gain or (Loss) Recognized in Income on Derivatives	Amount of Gain or (Loss) Recognized in Income on Derivatives
		For the Three Months Ended September 30,						For the Nine Months Ended September 30,
		2012			2011			2012			2011
Foreign exchange forward contracts	Non-Operating Income (Expenses) - Net	$	6.1		$	(1.9	)	$	7.9		$	3.6
Foreign exchange option contracts	Non-Operating Income (Expenses) - Net	$	(0.2	)	$	—		$	(0.2	)	$	(0.4	)

Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table summarizes fair value measurements by level at September 30, 2012 for assets and liabilities measured at fair value on a recurring basis:

	Quoted Prices in Active Markets for Identical Assets (Level I)		Significant Other Observable Inputs (Level II)		Significant Unobservable Inputs (Level III)		Balance at September 30, 2012
Assets:
Cash Equivalents (1)	$	47.9	$	—	$	—	$	47.9
Other Current Assets:
Foreign Exchange Option Contracts (2)	$	—	$	0.1	$	—	$	0.1
Liabilities:
Other Accrued and Current Liabilities:
Foreign Exchange Forwards (2)	$	—	$	0.9	$	—	$	0.9

(1) Cash equivalents represent fair value as it consists of highly liquid investments with an original maturity of three months or less.

(2) Primarily represents foreign currency forward and option contracts. Fair value is determined utilizing a market approach and considers a factor for nonperformance in the valuation.

The following table summarizes fair value measurements by level at December 31, 2011 for assets and liabilities measured at fair value on a recurring basis:

	Quoted Prices in Active Markets for Identical Assets (Level I)		Significant Other Observable Inputs (Level II)		Significant Unobservable Inputs (Level III)		Balance at December 31, 2011
Assets:
Cash Equivalents (1)	$	21.6	$	—	$	—	$	21.6
Other Current Assets:
Foreign Exchange Forwards (2)	$	—	$	0.7	$	—	$	0.7
Swap Arrangement (3)	$	—	$	4.3	$	—	$	4.3
Liabilities:
Other Accrued and Current Liabilities:
Foreign Exchange Forwards (2)	$	—	$	0.7	$	—	$	0.7

(1) Cash equivalents represent fair value as it consists of highly liquid investments with an original maturity of three months or less.

(2) Primarily represents foreign currency forward contracts. Fair value is determined utilizing a market approach and considers a factor for nonperformance in the valuation.

(3) Primarily represents our interest rate swap agreements including $4.3 million related to fair value hedges. Fair value is determined utilizing a market approach and considers a factor for nonperformance in the valuation.

Carrying Amount and Estimated Fair Value of Asset (Liability)

The estimated fair values of other financial instruments subject to fair value disclosures, determined based on valuation models using discounted cash flow methodologies with market data inputs from globally recognized data providers and third-party quotes from major financial institutions (categorized as Level II in the fair value hierarchy), are as follows:

	Balance at
	September 30, 2012				December 31, 2011
	Carrying Amount (Asset) Liability		Fair Value (Asset) Liability		Carrying Amount (Asset) Liability		Fair Value (Asset) Liability
Short-term Debt	$	400.0	$	421.9	$	—	$	—
Long-term Debt	$	299.3	$	311.1	$	699.2	$	723.3
Credit Facilities	$	320.1	$	316.2	$	259.4	$	259.8

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Segment Information (Tables)

9 Months Ended

Sep. 30, 2012

Text Block [Abstract]

Segment Information, Revenue and Operating Income (Loss)

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2012			2011			2012			2011
Revenue:
North America	$	308.3		$	304.7		$	872.8		$	879.2
Asia Pacific	44.8			43.2			133.2			122.1
Europe and Other International Markets	60.1			62.9			175.8			179.0
Consolidated Core	413.2			410.8			1,181.8			1,180.3
Divested and Other Businesses	—			28.6			18.1			79.5
Consolidated Total	$	413.2		$	439.4		$	1,199.9		$	1,259.8
Operating Income (Loss):
North America	117.3			112.1			323.0			324.0
Asia Pacific	5.1			5.0			(0.4		)	10.7
Europe and Other International Markets	17.3			15.4			46.1			36.2
Total Segments	139.7			132.5			368.7			370.9
Corporate and Other (1)	(30.0		)	(31.8		)	(95.3		)	(91.2		)
Consolidated Total	109.7			100.7			273.4			279.7
Non-Operating Income (Expense), Net (2)	(24.7		)	(17.6		)	(36.1		)	(46.6		)
Income Before Provision for Income Taxes and Equity in Net Income of Affiliates	$	85.0		$	83.1		$	237.3		$	233.1

(1) The following table summarizes “Corporate and Other:”

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2012			2011			2012			2011
Corporate Costs	$	(13.1	)	$	(14.0	)	$	(35.5	)	$	(40.6	)
Restructuring Expense	(4.8		)	(5.3		)	(23.2		)	(18.0		)
Strategic Technology Investment or MaxCV	(6.7		)	(12.5		)	(25.6		)	(32.6		)
Legal Fees And Other Shut-Down Costs Associated with Matters in China	(5.4		)	—			(11.0		)	—
Total Corporate and Other	$	(30.0	)	$	(31.8	)	$	(95.3	)	$	(91.2	)

(2) The following table summarizes “Non-Operating Income (Expense):”

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2012			2011			2012			2011
Interest Income	$	0.2		$	0.4		$	0.5		$	1.3
Interest Expense	(9.5		)	(9.1		)	(27.8		)	(27.4		)
Other Income (Expense) - Net	(15.4		)	(8.9		)	(8.8		)	(20.5		)
Non-Operating Income (Expense) - Net	$	(24.7	)	$	(17.6	)	$	(36.1	)	$	(46.6	)

Supplemental Geographic and Customer Solution Set Information

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2012		2011		2012		2011
Customer Solution Set Revenue:
North America:
Risk Management Solutions	$	178.8	$	183.5	$	518.5	$	539.8
Sales & Marketing Solutions	100.5		91.6		267.3		253.1
Internet Solutions	29.0		29.6		87.0		86.3
North America Core Revenue	308.3		304.7		872.8		879.2
Divested and Other Businesses (3)	—		2.3		—		7.3
Total North America Revenue	308.3		307.0		872.8		886.5
Asia Pacific:
Risk Management Solutions	38.1		38.9		112.2		108.0
Sales & Marketing Solutions	6.5		4.1		20.5		13.4
Internet Solutions	0.2		0.2		0.5		0.7
Asia Pacific Core Revenue	44.8		43.2		133.2		122.1
Divested and Other Businesses (3)	—		26.3		18.1		72.2
Total Asia Pacific Revenue	44.8		69.5		151.3		194.3
Europe and Other International Markets:
Risk Management Solutions	48.9		50.6		145.1		147.8
Sales & Marketing Solutions	10.5		11.6		28.7		29.4
Internet Solutions	0.7		0.7		2.0		1.8
Europe and Other International Markets Core Revenue	60.1		62.9		175.8		179.0
Divested and Other Businesses	—		—		—		—
Total Europe and Other International Markets Revenue	60.1		62.9		175.8		179.0
Consolidated Total:
Risk Management Solutions	265.8		273.0		775.8		795.6
Sales & Marketing Solutions	117.5		107.3		316.5		295.9
Internet Solutions	29.9		30.5		89.5		88.8
Core Revenue	413.2		410.8		1,181.8		1,180.3
Divested and Other Businesses (3)	—		28.6		18.1		79.5
Consolidated Total Revenue	$	413.2	$	439.4	$	1,199.9	$	1,259.8

(3) During the nine months ended September 30, 2012, we: a) completed the sale of: i) the domestic portion of our Japanese operations to TSR; and ii) our market research business in China, consisting of two joint venture companies; and b) the shut-down of our Roadway operations. These businesses have been classified as “Divested and Other Businesses.” These Divested and Other Businesses contributed 38% to our Asia Pacific total revenue for the three months ended September 30, 2011. These Divested and Other Businesses contributed contributed 12% and 37% to our Asia Pacific total revenue for the nine months ended September 30, 2012 and 2011, respectively.

During the nine months ended September 30, 2012, we completed the sale of: i) AllBusiness.com, Inc.; ii) Purisma Incorporated; and iii) a small supply management company. These businesses have been classified as “Divested and Other Businesses.” These Divested and Other Businesses contributed 1%, to our North America total revenue for the three month and nine month periods ended September 30, 2011, respectively.

The following table represents Divested and Other Businesses revenue by solution set:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2012		2011		2012		2011
Divested and Other Businesses:
Risk Management Solutions	$	—	$	10.1	$	8.7	$	28.4
Sales & Marketing Solutions	—		17.6		9.4		48.0
Internet Solutions	—		0.9		—		3.1
Total Divested and Other Businesses Revenue	$	—	$	28.6	$	18.1	$	79.5

	September 30, 2012		December 31, 2011
Assets:
North America	$	693.2	$	790.6
Asia Pacific	419.5		466.8
Europe and Other International Markets	317.6		317.8
Total Segments	1,430.3		1,575.2
Corporate and Other (primarily taxes)	391.3		401.9
Consolidated Total	$	1,821.6	$	1,977.1
Goodwill (4):
North America	$	266.8	$	266.0
Asia Pacific	232.6		222.0
Europe and Other International Markets	108.4		110.4
Consolidated Total	$	607.8	$	598.4

(4) The increase in goodwill in the Asia Pacific operating segment of $232.6 million at September 31, 2012 from $222.0million at December

Segment Information, Assets and Goodwill

	September 30, 2012		December 31, 2011
Assets:
North America	$	693.2	$	790.6
Asia Pacific	419.5		466.8
Europe and Other International Markets	317.6		317.8
Total Segments	1,430.3		1,575.2
Corporate and Other (primarily taxes)	391.3		401.9
Consolidated Total	$	1,821.6	$	1,977.1
Goodwill (4):
North America	$	266.8	$	266.0
Asia Pacific	232.6		222.0
Europe and Other International Markets	108.4		110.4
Consolidated Total	$	607.8	$	598.4

(4) The increase in goodwill in the Asia Pacific operating segment of $232.6 million at September 31, 2012 from $222.0million at December 31, 2011 was primarily due to the positive impact of foreign currency translation. The decrease in goodwill in the Europe and Other International Markets operating segment to $108.4 million at September 30, 2012 from $110.4 million at December 31, 2011 was primarily due to the negative impact of foreign currency translation.

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Effect of Derivative Instruments on Consolidated Statement of Operations and Comprehensive Income (Detail) (Non-Operating Income (Expenses) - Net, USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Swap Arrangement
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in OCI on Derivative (Effective Portion)	$ 0	$ 0.4	$ 0	$ 1.0
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	0	(0.4)	0	(1.2)
Amount of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)	0	0	0	0
Gain or (Loss) Recognized in Income on Derivative	0	4.0	0.8	5.8
Swap Arrangement | Long-Term Fixed-Rate Notes
Derivative Instruments, Gain (Loss) [Line Items]
Gain or (Loss) Recognized in Income on Derivative	0	(4.1)	(0.5)	(5.9)
Forward exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain or (Loss) Recognized in Income on Derivative	6.1	(1.9)	7.9	3.6
Foreign exchange option contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain or (Loss) Recognized in Income on Derivative	$ (0.2)	$ 0	$ (0.2)	$ (0.4)

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Contingencies- Additional Information (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended			9 Months Ended			12 Months Ended	9 Months Ended	12 Months Ended	9 Months Ended
	Sep. 30, 2012	Mar. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012 Shanghai Roadway D&B Marketing Services Co Ltd.	Dec. 31, 2011 Shanghai Roadway D&B Marketing Services Co Ltd.	Sep. 30, 2012 Shanghai Roadway D&B Marketing Services Co Ltd.	Dec. 31, 2011 Shanghai Roadway D&B Marketing Services Co Ltd.	Sep. 30, 2012 Corporate Shutdown Costs [Member] Shanghai Roadway D&B Marketing Services Co Ltd.	Sep. 30, 2012 Local Shutdown Costs [Member] Shanghai Roadway D&B Marketing Services Co Ltd.
Commitments and Contingencies Disclosure [Line Items]
Divested and other revenue	$ 0		$ 28.6	$ 18.1	$ 79.5	$ 5.4	$ 22.0	$ 5.4	$ 22.0
Divested and other business, operating income (loss)						(14.5)	2.0	(14.5)	2.0
Impairment of assets		12.9		16.1	0	12.9
Shut-down costs										$ 11.0	$ 1.8

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Acquisition (Tables)

9 Months Ended

Sep. 30, 2012

Text Block [Abstract]

Purchase Price Related to Acquisition

below reflects the purchase related to the acquisition and the resulting purchase price allocation:

	Amortization Life (years)	Acquisition
Intangible Assets:
Trademark	8.5	$	0.6
Customer Relationships	10	2.7
Database	6.5	1.4
Technology	6.5	0.6
Goodwill	Indefinite	8.9
Other		0.2
Total Assets Acquired		14.4
Total Liabilities Assumed		—
Total Purchase Price		$	14.4

The good

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Basis of Presentation - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2012 segment
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Commercial arrangement with TSR to provide global data to its Japanese customers, term	10 years
Number of operating segments	3

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Consolidated Statements of Shareholders' Equity (Deficit) (Parenthetical) (USD $) In Millions, unless otherwise specified	9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
Pension Adjustments, tax	$ 2.6	$ 4.1
Derivative Financial instruments, tax impact	$ 0	$ 0

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Restructuring Charge - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended						9 Months Ended
	Sep. 30, 2012 person	Jun. 30, 2012	Mar. 30, 2012	Sep. 30, 2011 person	Jun. 30, 2011	Mar. 30, 2011	Sep. 30, 2012 person	Sep. 30, 2011 person
Restructuring Cost and Reserve [Line Items]
Restructuring Charge	$ 4.8	$ 9.3	$ 9.1	$ 5.3	$ 8.5	$ 4.2	$ 23.2	$ 18.0
Number of employees exited	35			90			655	280
Severance
Restructuring Cost and Reserve [Line Items]
Restructuring Charge	1.6						12.8
Employee Termination Costs
Restructuring Cost and Reserve [Line Items]
Restructuring Charge							4.7
Severance and Termination
Restructuring Cost and Reserve [Line Items]
Restructuring Charge	1.6	9.2	6.7	4.6	5.4	4.2		14.2
Number of employees impacted	50			100			670	305
Lease Termination Obligations and Other Exit Costs
Restructuring Cost and Reserve [Line Items]
Restructuring Charge	$ 3.2	$ 0.1	$ 2.4	$ 0.7	$ 3.1	$ 0	$ 5.7	$ 3.8

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Share Repurchases (Detail) (USD $) In Millions, except Share data, unless otherwise specified	3 Months Ended				9 Months Ended
	Sep. 30, 2012		Sep. 30, 2011		Sep. 30, 2012		Sep. 30, 2011
Accelerated Share Repurchases [Line Items]
Total number of share repurchases (in shares)	435,733		810,500		3,463,999		1,642,700
Total amount of share repurchases	$ 36.0		$ 54.1		$ 240.0		$ 121.6
Share Repurchase Programs
Accelerated Share Repurchases [Line Items]
Total number of share repurchases (in shares)	435,733	[1]	501,691	[2]	3,404,436	[1]	976,335	[2]
Total amount of share repurchases	36.0		33.1		236.0		71.5
Repurchases to Mitigate the Dilutive Effect of the Shares Issued Under Our Stock Incentive Plans and Employee Stock Purchase Plan ("ESPP")
Accelerated Share Repurchases [Line Items]
Total number of share repurchases (in shares)	0	[3]	308,809	[3]	59,563	[3]	666,365	[3]
Total amount of share repurchases	$ 0		$ 21.0		$ 4.0		$ 50.1

[1] In August 2012, our Board of Directors approved a $500 million increase to our existing $500 million share repurchase program, for a total program authorization of $1 billion. The then existing $500 million program was announced in October 2011 and commenced in November 2011 upon completion of our then existing $200 million share repurchase program. We anticipate that this program will be completed in 2014.(b)In February 2009, our Board of Directors approved a $200 million share repurchase program, which commenced in December 2009 upon completion of our then existing $400 million, two-year repurchase program. This program was completed in November 2011.(c)In Ma

[2] In February 2009, our Board of Directors approved a $200 million share repurchase program, which commenced in December 2009 upon completion of our then existing $400 million, two-year repurchase program. This program was completed in November 2011.

[3] In May 2010, our Board of Directors approved a four-year, five million share repurchase program to mitigate the dilutive effect of the shares issued under our stock incentive plans and ESPP. This program commenced in October 2010 and expires in October 2014. We anticipate that this program will be completed by October 2014.

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Segment Information Schedule of Divested and Other Business Revenue (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended			9 Months Ended
	Sep. 30, 2012		Sep. 30, 2011	Sep. 30, 2012		Sep. 30, 2011	Dec. 31, 2011
Segment Reporting Information [Line Items]
Divested and other revenue	$ 0		$ 28.6	$ 18.1		$ 79.5
Assets	1,821.6			1,821.6			1,977.1
Goodwill	607.8	[1]		607.8	[1]		598.4	[1]
Risk Management Solutions
Segment Reporting Information [Line Items]
Divested and other revenue	0		10.1	8.7		28.4
Sale and Marketing Solutions
Segment Reporting Information [Line Items]
Divested and other revenue	0		17.6	9.4		48.0
Internet Business
Segment Reporting Information [Line Items]
Divested and other revenue	0		0.9	0		3.1
North America
Segment Reporting Information [Line Items]
Assets	693.2			693.2			790.6
Goodwill	266.8	[1]		266.8	[1]		266.0	[1]
Asia Pacific
Segment Reporting Information [Line Items]
Assets	419.5			419.5			466.8
Goodwill	232.6	[1]		232.6	[1]		222.0	[1]
Europe and Other International Markets
Segment Reporting Information [Line Items]
Assets	317.6			317.6			317.8
Goodwill	108.4	[1]		108.4	[1]		110.4	[1]
Total Segments
Segment Reporting Information [Line Items]
Assets	1,430.3			1,430.3			1,575.2
Corporate and Other
Segment Reporting Information [Line Items]
Assets	$ 391.3			$ 391.3			$ 401.9

[1] The increase in goodwill in the Asia Pacific operating segment of $232.6 million at September 31, 2012 from $222.0 million at December 31, 2011 was primarily due to the positive impact of foreign currency translation. The decrease in goodwill in the Europe and Other International Markets operating segment to $108.4 million at September 30, 2012 from $110.4 million at December 31, 2011 was primarily due to the negative impact of foreign currency translation.

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Consolidated Statements of Operations and Comprehensive Income (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended				9 Months Ended
	Sep. 30, 2012		Sep. 30, 2011		Sep. 30, 2012		Sep. 30, 2011
Revenue	$ 413.2		$ 439.4		$ 1,199.9		$ 1,259.8
Operating Expenses	124.2		150.2		395.2		431.1
Selling and Administrative Expenses	154.5		162.6		448.2		470.4
Depreciation and Amortization	20.0		20.6		59.9		60.6
Restructuring Charge	4.8		5.3		23.2		18.0
Operating Costs	303.5		338.7		926.5		980.1
Operating Income	109.7		100.7		273.4		279.7
Interest Income	0.2		0.4		0.5		1.3
Interest Expense	(9.5)		(9.1)		(27.8)		(27.4)
Other Income (Expense) - Net	(15.4)		(8.9)		(8.8)		(20.5)
Non-Operating Income (Expense) - Net	(24.7)	[1],[2]	(17.6)	[1],[2]	(36.1)	[1],[2]	(46.6)	[1],[2]
Income Before Provision for Income Taxes and Equity in Net Income of Affiliates	85.0		83.1		237.3		233.1
Less: Provision for Income Taxes	4.8		24.7		37.3		68.4
Equity in Net Income of Affiliates	0.5		0.4		1.3		1.1
Net Income	80.7		58.8		201.3		165.8
Less: Net (Income) Loss Attributable to the Noncontrolling Interest	(1.1)		(0.4)		(1.8)		1.0
Net Income Attributable to D&B	79.6		58.4		199.5		166.8
Basic Earnings Per Share of Common Stock Attributable to D&B Common Shareholders (in dollars per share)	$ 1.77		$ 1.19		$ 4.29		$ 3.38
Diluted Earnings Per Share of Common Stock Attributable to D&B Common Shareholders (in dollars per share)	$ 1.76		$ 1.19		$ 4.26		$ 3.36
Weighted Average Number of Shares Outstanding-Basic (in shares)	44.8		48.9		46.4		49.2
Weighted Average Number of Shares Outstanding-Diluted (in shares)	45.2		49.1		46.8		49.6
Cash Dividend Paid Per Common Share (in dollars per share)	$ 0.38		$ 0.36		$ 1.14		$ 1.08
Other Comprehensive Income, Net of Tax
Net Income	80.7		58.8		201.3		165.8
Foreign Currency Translation Adjustments, no Tax Impact	20.9		4.6		13.2		34.8
Defined Benefit Pension Plans:
Prior Service Costs, Net of Tax Income	(1.8)	[3]	(0.8)	[3]	(5.3)	[3]	(5.1)	[3]
Net Loss, Net of Tax Income (Expense)	1.0	[4]	3.3	[4]	13.1	[4]	15.7	[4]
Derivative Financial Instruments, No Tax impact	0.4		0.9		1.2		2.3
Comprehensive Income, Net of Tax	101.2		66.8		223.5		213.5
Less: Comprehensive Income (Loss) Attributable to the Noncontrolling Interest	(1.1)		(0.6)		(1.7)		0.7
Comprehensive Income Attributable to D&B	$ 100.1		$ 66.2		$ 221.8		$ 214.2

[1] The following table summarizes "Non-Operating Income (Expense):" For the Three Months Ended For the Nine Months Ended September 30, September 30, 2012 2011 2012 2011 Interest Income $ 0.2 $ 0.4 $ 0.5 $ 1.3 Interest Expense (9.5 ) (9.1 ) (27.8 ) (27.4 ) Other Income (Expense) - Net (15.4) (8.9 ) (8.8) (20.5 ) Non-Operating Income (Expense) - Net $ (24.7 ) $ (17.6 ) $ (36.1 ) $ (46.6 )

[2] The following table summarizes "Corporate and Other:" For the Three Months Ended For the Nine Months Ended September 30, September 30, 2012 2011 2012 2011 Corporate Costs $ (13.1 ) $ (14.0 ) $ (35.5 ) $ (40.6 ) Restructuring Expense (4.8 ) (5.3 ) (23.2 ) (18.0 ) Strategic Technology Investment or MaxCV (6.7 ) (12.5 ) (25.6 ) (32.6 ) Legal Fees Associated with Allegations in China (5.4 ) 0.0 (11.0 ) 0.0 Total Corporate and Other $ (30.0 ) $ (31.8) $ (95.3 ) $ (91.2 )

[3] Net of Tax Income of $0.5 million and $1.6 million during the three months ended September 30, 2012 and 2011, respectively. Net of Tax Income of $1.8 million and $2.0 million during the nine months ended September 30, 2012 and 2011, respectively.

[4] Net of Tax Income (Expense) of $0.1 million and ($5.0) million during the three months ended September 30, 2012 and 2011, respectively. Net of Tax Expense of ($4.4) million and ($6.1) million during the nine months ended September 30, 2012 and 2011, respectively.

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Income Taxes - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Income Taxes [Line Items]
Effective tax rate	5.60%	29.70%	15.70%	29.30%
Gross unrecognized tax benefits	$ 100.0		$ 100.0
Unrecognized tax benefits that, if recognized, would impact effective tax rate	93.9		93.9
Increase in unrecognized tax benefits	24.9		20.1
Reasonably possible decrease in unrecognized tax benefits within next twelve months	59		59
Interest expense related to unrecognized tax benefits	1.2	0.9	2.5	2.6
Accrued interest expense related to unrecognized tax benefits	$ 8.2	$ 11.0	$ 8.2	$ 11.0

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Consolidated Statements of Cash Flows (USD $) In Millions, unless otherwise specified	9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
Cash Flows from Operating Activities:
Net Income	$ 201.3	$ 165.8
Reconciliation of Net Income to Net Cash Provided by Operating Activities:
Depreciation and Amortization	59.9	60.6
Amortization of Unrecognized Pension Loss	17.7	11.2
(Gain) Loss from Sales of Business / Investments	(6.0)	11.7
Impairment of Assets	16.1	0
Income Tax Benefit from Stock-Based Awards	4.9	11.4
Excess Tax Benefit on Stock-Based Awards	(1.1)	(5.4)
Equity Based Compensation	8.8	9.2
Restructuring Charge	23.2	18.0
Restructuring Payments	(23.7)	(15.2)
Deferred Income Taxes, Net	(25.4)	(3.4)
Accrued Income Taxes, Net	(14.6)	(7.8)
Changes in Current Assets and Liabilities:
Decrease in Accounts Receivable	109.2	117.0
Decrease in Other Current Assets	24.2	3.4
(Decrease) in Deferred Revenue	(56.9)	(67.8)
Increase (Decrease) in Accounts Payable	3.6	(3.9)
(Decrease) in Accrued Liabilities	(41.9)	(8.8)
Increase in Other Accrued and Current Liabilities	8.2	5.9
Changes in Non-Current Assets and Liabilities:
Decrease in Other Long-Term Assets	25.1	26.5
Net (Decrease) in Long-Term Liabilities	(25.5)	(58.3)
Net, Other Non-Cash Adjustments	0	1.1
Net Cash Provided by Operating Activities	307.1	271.2
Cash Flows from Investing Activities:
Proceeds from Sales of Businesses, Net of Cash Divested	7.9	0.3
Payments for Acquisitions of Businesses, Net of Cash Acquired	0	(1.7)
Investment in Debt Security	0	(1.0)
Cash Settlements of Foreign Currency Contracts	8.8	3.9
Capital Expenditures	(2.1)	(3.0)
Additions to Computer Software and Other Intangibles	(49.8)	(29.7)
Reimbursement of Proceeds Related to a Divested Business	0	(7.4)
Net, Other	0.1	0.2
Net Cash Used in Investing Activities	(35.1)	(38.4)
Cash Flows from Financing Activities:
Payments for Purchases of Treasury Shares	(240.0)	(121.6)
Net Proceeds from Stock-Based Awards	14.9	26.9
Payment of Bond Issuance Costs	0	(0.3)
Payments of Dividends	(52.8)	(53.2)
Proceeds from Borrowings on Credit Facilities	515.0	132.2
Payments of Borrowings on Credit Facilities	(454.3)	(216.4)
Excess Tax Benefit on Stock-Based Awards	1.1	5.4
Capital Lease and Other Long-Term Financing Obligation Payment	(2.2)	(4.0)
Net, Other	(1.4)	(0.2)
Net Cash Used in Financing Activities	(219.7)	(231.2)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	0.3	9.4
Increase in Cash and Cash Equivalents	52.6	11.0
Cash and Cash Equivalents, Beginning of Period	84.4	78.5
Cash and Cash Equivalents, End of Period	137.0	89.5
Cash Paid for:
Income Taxes, Net of Refunds	72.3	68.2
Interest	$ 13.3	$ 17.3

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Carrying Amount and Estimated Fair Value of Asset (Liability) (Detail) (USD $) In Millions, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term Debt	$ 400.0	$ 0
Long-term Debt	299.3	699.2
Credit Facilities	320.1	259.4
Fair Value (Asset) Liability
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term Debt, fair value	421.9	0
Long-term Debt, fair value	311.1	723.3
Credit Facilities, fair value	$ 316.2	$ 259.8

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Notes Payable and Indebtedness - Additional Information (Detail) (USD $)	3 Months Ended			9 Months Ended			3 Months Ended	9 Months Ended		3 Months Ended		9 Months Ended		3 Months Ended		9 Months Ended	1 Months Ended			1 Months Ended			1 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Dec. 31, 2010	Sep. 30, 2012	Sep. 30, 2011	Dec. 31, 2011	Mar. 30, 2012 Swap Arrangement	Sep. 30, 2012 Swap Arrangement	Mar. 11, 2012 Swap Arrangement	Mar. 30, 2012 Swap Arrangement Non-Operating Income (Expenses) - Net	Sep. 30, 2011 Swap Arrangement Non-Operating Income (Expenses) - Net	Sep. 30, 2012 Swap Arrangement Non-Operating Income (Expenses) - Net	Sep. 30, 2011 Swap Arrangement Non-Operating Income (Expenses) - Net	Mar. 30, 2012 Swap Arrangement Long-Term Fixed-Rate Notes Non-Operating Income (Expenses) - Net	Sep. 30, 2011 Swap Arrangement Long-Term Fixed-Rate Notes Non-Operating Income (Expenses) - Net	Sep. 30, 2011 Swap Arrangement Long-Term Fixed-Rate Notes Non-Operating Income (Expenses) - Net	Nov. 29, 2010 Senior Notes Due November 2015	Sep. 30, 2012 Senior Notes Due November 2015	Dec. 31, 2010 Senior Notes Due November 2015	Apr. 29, 2008 2013 Senior Notes	Mar. 27, 2008 2013 Senior Notes	Jan. 29, 2008 2013 Senior Notes	Nov. 29, 2010 Senior Notes Due March 2011	Sep. 30, 2012 Revolving Credit Facility October 2016	Dec. 31, 2011 Revolving Credit Facility October 2016	Jul. 30, 2012 Revolving Credit Facility October 2016 Maximum	Jun. 30, 2012 Revolving Credit Facility October 2016 Maximum	Sep. 30, 2012 International Operations	Dec. 31, 2011 International Operations
Debt Instrument [Line Items]
Long-Term Fixed-Rate Notes issued, face value																	$ 300,000,000			$ 400,000,000
Long-Term Fixed-Rate Notes, annual interest rate																	2.875%			6.00%			5.50%
Long-Term Fixed-Rate Notes, maturity date																	Nov. 15, 2015			Apr. 01, 2013			Mar. 15, 2011
Repayment of long-term fixed-rate notes			300,000,000
Long-Term Fixed-Rate Notes, premium payment			3,700,000
Long-Term Fixed-Rate Notes	299,300,000			299,300,000		699,200,000												299,300,000
Long-Term Fixed-Rate Notes, discount	700,000			700,000		800,000											1,100,000	700,000
Long-Term Fixed-Rate Notes, underwriting and other fees																	2,500,000			3,000,000
Interest rate derivatives accounted as fair value hedges, aggregate notional amount																	125,000,000		125,000,000
Gain (loss) recognized in income on derivatives										800,000	(4,100,000)	300,000	(5,900,000)	(500,000)	4,000,000	5,800,000
Cash received from interest rate derivatives terminated							5,000,000	5,000,000
Carrying amount of hedged debt								4,200,000	4,900,000
Amortization of carrying amount of hedged debt								700,000
Interest rate adjustment																				The interest rate applicable to the 2013 notes is subject to adjustment if our debt rating is decreased four levels below the Standard & Poor’s and Fitch A- credit ratings that we held on the date of issuance.
Maximum adjustments above initial interest rate																				2.00%
Minimum interest rate subject to adjustments																				6.00%
Interest rate derivatives accounted as cash flows hedges, aggregate notional amount																						400,000,000
Loss from interest rate derivative terminated																					(8,500,000)
Credit facility, maximum borrowing capacity																								800,000,000	800,000,000
Commercial papers borrowings supported by line of credit																										800,000,000	300,000,000
Revolving credit facility, expiration date																								2016-10	2016-10
Revolving credit facility, period																								5 years	5 years
Credit facility Outstanding amount																								320,100,000	259,400,000				200,000
Credit facility, interest percentage																								1.39%	1.58%
Uncommitted credit facility, maximum borrowing capacity																												2,100,000	3,200,000
Contingent liability under open standby letters of credit in favor of third parties	12,300,000			12,300,000		12,200,000
Interest paid for all outstanding debt	$ 900,000	$ 600,000		$ 13,300,000	$ 17,300,000

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Subsequent Events

9 Months Ended

Sep. 30, 2012

Text Block [Abstract]

Subsequent Events

Subsequent Events

Dividend Declaration

In October 2012, we approved the declaration of a dividend of $0.38 per share of common stock for the fourth quarter of 2012. This cash dividend will be payable on December 13, 2012 to shareholders of record at the close of business on November 28, 2012.

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Borrowings (Detail) (USD $) In Millions, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
Debt Maturing Within One Year:
Short-Term Fixed-Rate	$ 400.0	$ 0
Other	0.2	1.1
Total Debt Maturing Within One year	400.2	1.1
Debt Maturing After One Year:
Long-Term Fixed-Rate Notes (Net of a $0.7 million and $0.8 million discount as of September 30, 2012 and December 31, 2011, respectively)	299.3	699.2
Fair Value Adjustment Related to Hedged Debt	4.2	4.4
Credit Facility	320.1	259.4
Other	0.3	0.9
Total Debt Maturing After One Year	$ 623.9	$ 963.9

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Notes Payable and Indebtedness (Tables)

9 Months Ended

Sep. 30, 2012

Text Block [Abstract]

Borrowings

Our borrowings are summarized in the following table:

	September 30, 2012		December 31, 2011
Debt Maturing Within One Year:
Short-Term Fixed-Rate	$	400.0	$	—
Other	0.2		1.1
Total Debt Maturing Within One Year	$	400.2	$	1.1
Debt Maturing After One Year:
Long-Term Fixed-Rate Notes (Net of a $0.7 million and $0.8 million discount as of September 30, 2012 and December 31, 2011, respectively)	$	299.3	$	699.2
Fair Value Adjustment Related to Hedged Debt	4.2		4.4
Credit Facility	320.1		259.4
Other	0.3		0.9
Total Debt Maturing After One Year	$	623.9	$	963.9

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Consolidated Statements of Shareholders' Equity (Deficit) (USD $) In Millions, unless otherwise specified	Total	Common Stock ($0.01 Par Value)	Capital Surplus	Retained Earnings	Treasury Stock	Cumulative Translation Adjustment	Minimum Pension Liability Adjustment	Derivative Financial Instrument	Total D&B Shareholders' Equity (Deficit)	Noncontrolling Interest
Beginning Balance at Dec. 31, 2010	$ (668.8)	$ 0.8	$ 227.3	$ 1,989.5	$ (2,214.1)	$ (162.1)	$ (516.0)	$ (3.0)	$ (677.6)	$ 8.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	165.8	0	0	166.8	0	0	0	0	166.8	(1.0)
Payment to Noncontrolling Interest	(0.6)	0	0	0	0	0	0	0	0	(0.6)
Sale of Noncontrolling Interest	1.7	0	0	0	0	0	0	0	0	1.7
Equity-Based Plans	42.9	0	4.1	0	38.8	0	0	0	42.9	0
Treasury Shares Acquired	(121.6)	0	0	0	(121.6)	0	0	0	(121.6)	0
Pension Adjustments, net of tax of $2.6 in 2012 and $4.1 in 2011	10.6	0	0	0	0	0	10.6	0	10.6	0
Dividend Declared	(53.2)	0	0	(53.2)	0	0	0	0	(53.2)	0
Adjustments to Legacy Tax Matters	4.9	0	4.9	0	0	0	0	0	4.9	0
Change in Cumulative Translation Adjustment	34.8	0	0	0	0	34.6	0	0	34.6	0.2
Derivative Financial Instruments, no tax impact	2.3	0	0	0	0	0	0	2.3	2.3	0
Ending Balance at Sep. 30, 2011	(581.2)	0.8	236.3	2,103.1	(2,296.9)	(127.5)	(505.4)	(0.7)	(590.3)	9.1
Beginning Balance at Dec. 31, 2011	(740.2)	0.8	239.0	2,179.3	(2,356.3)	(168.3)	(638.4)	0	(743.9)	3.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	201.3	0	0	199.5	0	0	0	0	199.5	1.8
Payment to Noncontrolling Interest	(1.1)	0	0	0	0	0	0	0	0	(1.1)
Sale of Noncontrolling Interest	(0.4)	0	0	0	0	0	0	0	0	(0.4)
Equity-Based Plans	44.0	0	21.9	0	22.1	0	0	0	44.0	0
Treasury Shares Acquired	(240.0)	0	0	0	(240.0)	0	0	0	(240.0)	0
Pension Adjustments, net of tax of $2.6 in 2012 and $4.1 in 2011	7.8	0	0	0	0	0	7.8	0	7.8	0
Dividend Declared	(53.1)	0	0	(53.1)	0	0	0	0	(53.1)	0
Adjustments to Legacy Tax Matters	1.6	0	1.6	0	0	0	0	0	1.6	0
Change in Cumulative Translation Adjustment	13.2	0	0	0	0	13.3	0	0	13.3	(0.1)
Derivative Financial Instruments, no tax impact	1.2	0	0	0	0	0	0	1.2	1.2	0
Ending Balance at Sep. 30, 2012	$ (765.7)	$ 0.8	$ 262.5	$ 2,325.7	$ (2,574.2)	$ (155.0)	$ (630.6)	$ 1.2	$ (769.6)	$ 3.9

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Consolidated Statements of Operations and Comprehensive Income (Parenthetical) (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Prior Service Costs, Tax Income (Expense)	$ 0.5	$ 1.6	$ 1.8	$ 2.0
Net Loss, Tax Income (Expense)	$ 0.1	$ (5.0)	$ (4.4)	$ (6.1)

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Pension and Postretirement Benefits

9 Months Ended

Sep. 30, 2012

Text Block [Abstract]

Pension and Postretirement Benefits

Pension and Postretirement Benefits

The following table sets forth the components of the net periodic cost (income) associated with our pension plans and our postretirement benefit obligations:

	Pension Plans												Postretirement Benefit Obligations
	For the Three Months Ended September 30,						For the Nine Months Ended September 30,						For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2012			2011			2012			2011			2012			2011			2012			2011
Components of Net Periodic Cost (Income):
Service cost	$	1.3		$	1.1		$	4.4		$	4.5		$	0.3		$	—		$	0.5		$	0.2
Interest cost	19.0			21.2			56.5			63.9			0.1			0.2			0.5			0.7
Expected return on plan assets	(25.0		)	(27.8		)	(74.7		)	(82.9		)	—			—			—			—
Amortization of prior service cost (credit)	0.1			—			0.3			0.2			(2.4		)	(2.4		)	(7.4		)	(7.4		)
Recognized actuarial loss (gain)	9.0			6.5			26.7			20.1			(0.9		)	(0.6		)	(1.9		)	(1.7		)
Net Periodic Cost (Income)	$	4.4		$	1.0		$	13.2		$	5.8		$	(2.9	)	$	(2.8	)	$	(8.3	)	$	(8.2	)

We previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2011 that we expected to contribute $26.0 million to our U.S. Non-Qualified plans and non-U.S. pension plans and $6.0 million to our postretirement benefit plan for the year ended December 31, 2012. As of September 30, 2012, we have made contributions to our Non-Qualified U.S. and non-U.S. pension plans of $17.9 million and postretirement benefit plan of $2.4 million, respectively.

We incurred a settlement charge of $1.0 million in the first quarter of 2011, related to our Canadian plan. This charge was associated with our Financial Flexibility initiatives.

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Document and Entity Information	9 Months Ended
	Sep. 30, 2012
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2012
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	Q3
Trading Symbol	DNB
Entity Registrant Name	DUN & BRADSTREET CORP/NW
Entity Central Index Key	0001115222
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	44,565,337

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Segment Information

9 Months Ended

Sep. 30, 2012

Text Block [Abstract]

Segment Information

Segment Information

The operating segments reported below are our segments for which separate financial information is available and upon which operating results are evaluated by management on a timely basis to assess performance and to allocate resources.

Simultaneously with the sale of the domestic portion of our Japanese operations to TSR, we entered into a ten-year commercial arrangement to provide TSR with global data for its Japanese competitors and became the exclusive distributor of TSR data to the Worldwide Network. We continue to manage our business through three segments. However, as of January 1, 2012, our Asia Pacific Worldwide Network has been moved out of our Europe and Other International Markets segment and into our Asia Pacific segment.

On January 1, 2012, we began managing our business through the following three segments (all prior periods have been reclassified to reflect the new segment structure):

• North America (which consists of our operations in the U.S. and Canada);

• Asia Pacific (which primarily consists of our operations in Australia, China, India and Asia Pacific Worldwide Network); and

• Europe and Other International Markets (which primarily consists of our operations in the UK, Netherlands, Belgium, Latin America and European Worldwide Network).

Prior to January 1, 2012, we managed and reported our business globally through the following three segments:

• North America (which consisted of our operations in the U.S. and Canada);

• Asia Pacific (which primarily consisted of our operations in Australia, Japan, China and India); and

• Europe and Other International Markets (which primarily consisted of our operations in the UK, Netherlands, Belgium, Latin America and the Worldwide Network).

Our customer solution sets are D&B Risk Management Solutions™, D&B Sales & Marketing Solutions™ and D&B Internet Solutions™. Inter-segment sales are immaterial, and no single customer accounted for 10% or more of our total revenue. For management reporting purposes, we evaluate business segment performance before restructuring charges, intercompany transactions and our Strategic Technology Investment, which we refer to as “MaxCV” for Maximizing Customer Value, because these charges are not a component of our ongoing income or expenses and may have a disproportionate positive or negative impact on the results of our ongoing underlying business.

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2012			2011			2012			2011
Revenue:
North America	$	308.3		$	304.7		$	872.8		$	879.2
Asia Pacific	44.8			43.2			133.2			122.1
Europe and Other International Markets	60.1			62.9			175.8			179.0
Consolidated Core	413.2			410.8			1,181.8			1,180.3
Divested and Other Businesses	—			28.6			18.1			79.5
Consolidated Total	$	413.2		$	439.4		$	1,199.9		$	1,259.8
Operating Income (Loss):
North America	117.3			112.1			323.0			324.0
Asia Pacific	5.1			5.0			(0.4		)	10.7
Europe and Other International Markets	17.3			15.4			46.1			36.2
Total Segments	139.7			132.5			368.7			370.9
Corporate and Other (1)	(30.0		)	(31.8		)	(95.3		)	(91.2		)
Consolidated Total	109.7			100.7			273.4			279.7
Non-Operating Income (Expense), Net (2)	(24.7		)	(17.6		)	(36.1		)	(46.6		)
Income Before Provision for Income Taxes and Equity in Net Income of Affiliates	$	85.0		$	83.1		$	237.3		$	233.1

(1) The following table summarizes “Corporate and Other:”

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2012			2011			2012			2011
Corporate Costs	$	(13.1	)	$	(14.0	)	$	(35.5	)	$	(40.6	)
Restructuring Expense	(4.8		)	(5.3		)	(23.2		)	(18.0		)
Strategic Technology Investment or MaxCV	(6.7		)	(12.5		)	(25.6		)	(32.6		)
Legal Fees And Other Shut-Down Costs Associated with Matters in China	(5.4		)	—			(11.0		)	—
Total Corporate and Other	$	(30.0	)	$	(31.8	)	$	(95.3	)	$	(91.2	)

(2) The following table summarizes “Non-Operating Income (Expense):”

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2012			2011			2012			2011
Interest Income	$	0.2		$	0.4		$	0.5		$	1.3
Interest Expense	(9.5		)	(9.1		)	(27.8		)	(27.4		)
Other Income (Expense) - Net	(15.4		)	(8.9		)	(8.8		)	(20.5		)
Non-Operating Income (Expense) - Net	$	(24.7	)	$	(17.6	)	$	(36.1	)	$	(46.6	)

Supplemental Geographic and Customer Solution Set Information:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2012		2011		2012		2011
Customer Solution Set Revenue:
North America:
Risk Management Solutions	$	178.8	$	183.5	$	518.5	$	539.8
Sales & Marketing Solutions	100.5		91.6		267.3		253.1
Internet Solutions	29.0		29.6		87.0		86.3
North America Core Revenue	308.3		304.7		872.8		879.2
Divested and Other Businesses (3)	—		2.3		—		7.3
Total North America Revenue	308.3		307.0		872.8		886.5
Asia Pacific:
Risk Management Solutions	38.1		38.9		112.2		108.0
Sales & Marketing Solutions	6.5		4.1		20.5		13.4
Internet Solutions	0.2		0.2		0.5		0.7
Asia Pacific Core Revenue	44.8		43.2		133.2		122.1
Divested and Other Businesses (3)	—		26.3		18.1		72.2
Total Asia Pacific Revenue	44.8		69.5		151.3		194.3
Europe and Other International Markets:
Risk Management Solutions	48.9		50.6		145.1		147.8
Sales & Marketing Solutions	10.5		11.6		28.7		29.4
Internet Solutions	0.7		0.7		2.0		1.8
Europe and Other International Markets Core Revenue	60.1		62.9		175.8		179.0
Divested and Other Businesses	—		—		—		—
Total Europe and Other International Markets Revenue	60.1		62.9		175.8		179.0
Consolidated Total:
Risk Management Solutions	265.8		273.0		775.8		795.6
Sales & Marketing Solutions	117.5		107.3		316.5		295.9
Internet Solutions	29.9		30.5		89.5		88.8
Core Revenue	413.2		410.8		1,181.8		1,180.3
Divested and Other Businesses (3)	—		28.6		18.1		79.5
Consolidated Total Revenue	$	413.2	$	439.4	$	1,199.9	$	1,259.8

(3) During the nine months ended September 30, 2012, we: a) completed the sale of: i) the domestic portion of our Japanese operations to TSR; and ii) our market research business in China, consisting of two joint venture companies; and b) the shut-down of our Roadway operations. These businesses have been classified as “Divested and Other Businesses.” These Divested and Other Businesses contributed 38% to our Asia Pacific total revenue for the three months ended September 30, 2011. These Divested and Other Businesses contributed contributed 12% and 37% to our Asia Pacific total revenue for the nine months ended September 30, 2012 and 2011, respectively.

During the nine months ended September 30, 2012, we completed the sale of: i) AllBusiness.com, Inc.; ii) Purisma Incorporated; and iii) a small supply management company. These businesses have been classified as “Divested and Other Businesses.” These Divested and Other Businesses contributed 1%, to our North America total revenue for the three month and nine month periods ended September 30, 2011, respectively.

The following table represents Divested and Other Businesses revenue by solution set:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2012		2011		2012		2011
Divested and Other Businesses:
Risk Management Solutions	$	—	$	10.1	$	8.7	$	28.4
Sales & Marketing Solutions	—		17.6		9.4		48.0
Internet Solutions	—		0.9		—		3.1
Total Divested and Other Businesses Revenue	$	—	$	28.6	$	18.1	$	79.5

	September 30, 2012		December 31, 2011
Assets:
North America	$	693.2	$	790.6
Asia Pacific	419.5		466.8
Europe and Other International Markets	317.6		317.8
Total Segments	1,430.3		1,575.2
Corporate and Other (primarily taxes)	391.3		401.9
Consolidated Total	$	1,821.6	$	1,977.1
Goodwill (4):
North America	$	266.8	$	266.0
Asia Pacific	232.6		222.0
Europe and Other International Markets	108.4		110.4
Consolidated Total	$	607.8	$	598.4

(4) The increase in goodwill in the Asia Pacific operating segment of $232.6 million at September 31, 2012 from $222.0million at December 31, 2011 was primarily due to the positive impact of foreign currency translation. The decrease in goodwill in the Europe and Other International Markets operating segment to $108.4 million at September 30, 2012 from $110.4 million at December 31, 2011 was primarily due to the negative impact of foreign currency translation.

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Consolidated Balance Sheets (USD $) In Millions, unless otherwise specified	Sep. 30, 2012		Dec. 31, 2011
Current Assets
Cash and Cash Equivalents	$ 137.0		$ 84.4
Accounts Receivable, Net of Allowance of $25.3 at September 30, 2012 and $17.1 at December 31, 2011	390.3		507.5
Other Receivables	5.2		5.7
Prepaid Taxes	1.6		1.5
Deferred Income Tax	26.4		32.1
Other Prepaids	33.5		55.1
Assets Held for Sale	0		32.7
Other Current Assets	4.2		7.9
Total Current Assets	598.2		726.9
Non-Current Assets
Property, Plant and Equipment, Net of Accumulated Depreciation of $81.6 at September 30, 2012 and $83.1 at December 31, 2011	37.9		45.7
Computer Software, Net of Accumulated Amortization of $446.2 at September 30, 2012 and $409.9 at December 31, 2011	134.9		127.6
Goodwill	607.8	[1]	598.4	[1]
Deferred Income Tax	243.6		243.1
Other Receivables	47.7		58.4
Other Intangibles	102.4		116.1
Other Non-Current Assets	49.1		60.9
Total Non-Current Assets	1,223.4		1,250.2
Total Assets	1,821.6		1,977.1
Current Liabilities
Accounts Payable	40.4		36.4
Accrued Payroll	82.0		117.4
Accrued Income Tax	15.8		17.7
Liabilities Held for Sale	0		29.1
Short-Term Debt	400.2		1.1
Other Accrued and Current Liabilities	132.2		153.6
Deferred Revenue	543.4		598.2
Total Current Liabilities	1,214.0		953.5
Pension and Postretirement Benefits	578.4		604.0
Long-Term Debt	623.9		963.9
Liabilities for Unrecognized Tax Benefits	105.2		129.5
Other Non-Current Liabilities	65.8		66.4
Total Liabilities	2,587.3		2,717.3
Contingencies (Note 7)
D&B SHAREHOLDERS' EQUITY (DEFICIT)
Capital Surplus	262.5		239.0
Retained Earnings	2,325.7		2,179.3
Treasury Stock, at cost, 37.4 shares at September 30, 2012 and 34.2 shares at December 31, 2011	(2,574.2)		(2,356.3)
Accumulated Other Comprehensive Income (Loss)	(784.4)		(806.7)
Total D&B Shareholders' Equity (Deficit)	(769.6)		(743.9)
Noncontrolling Interest	3.9		3.7
Total Equity (Deficit)	(765.7)		(740.2)
Total Liabilities and Shareholders' Equity (Deficit)	1,821.6		1,977.1
Series A Junior Participating Preferred Stock
D&B SHAREHOLDERS' EQUITY (DEFICIT)
Preferred Stock	0		0
Preferred Stock
D&B SHAREHOLDERS' EQUITY (DEFICIT)
Preferred Stock	0		0
Series Common Stock
D&B SHAREHOLDERS' EQUITY (DEFICIT)
Common Stock	0		0
Common Stock
D&B SHAREHOLDERS' EQUITY (DEFICIT)
Common Stock	$ 0.8		$ 0.8

[1] The increase in goodwill in the Asia Pacific operating segment of $232.6 million at September 31, 2012 from $222.0 million at December 31, 2011 was primarily due to the positive impact of foreign currency translation. The decrease in goodwill in the Europe and Other International Markets operating segment to $108.4 million at September 30, 2012 from $110.4 million at December 31, 2011 was primarily due to the negative impact of foreign currency translation.

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Notes Payable and Indebtedness

9 Months Ended

Sep. 30, 2012

Text Block [Abstract]

Notes Payable and Indebtedness

Notes Payable and Indebtedness

Our borrowings are summarized in the following table:

	September 30, 2012		December 31, 2011
Debt Maturing Within One Year:
Short-Term Fixed-Rate	$	400.0	$	—
Other	0.2		1.1
Total Debt Maturing Within One Year	$	400.2	$	1.1
Debt Maturing After One Year:
Long-Term Fixed-Rate Notes (Net of a $0.7 million and $0.8 million discount as of September 30, 2012 and December 31, 2011, respectively)	$	299.3	$	699.2
Fair Value Adjustment Related to Hedged Debt	4.2		4.4
Credit Facility	320.1		259.4
Other	0.3		0.9
Total Debt Maturing After One Year	$	623.9	$	963.9

Fixed-Rate Notes

In November 2010, we issued senior notes with a face value of $300 million that mature on November 15, 2015 (“the 2015 notes”), bearing interest at a fixed annual rate of 2.875%, payable semi-annually. The proceeds were used in December 2010 to repay our then outstanding $300 million senior notes, bearing interest at a fixed annual rate of 5.50%, which had a maturity date of March 15, 2011 (the “2011 notes”). In connection with the redemption of the 2011 notes, we recorded a premium payment of $3.7 million to “Other Income (Expense)—Net” in the consolidated statement of operations and comprehensive income during the year ended December 31, 2010. The 2015 notes of $299.3 million, net of $0.7 million remaining discount, are recorded as “Long-Term Debt” in our unaudited consolidated balance sheet at September 30, 2012.

The 2015 notes were issued at a discount of $1.1 million, and, in connection with the issuance, we incurred underwriting and other fees of approximately $2.5 million. These costs are being amortized over the life of the 2015 notes. The 2015 notes contain certain covenants that limit our ability to create liens, enter into sale and leaseback transactions and consolidate, merge or sell assets to another entity. The 2015 notes do not contain any financial covenants.

In November and December 2010, we entered into interest rate derivative transactions with aggregate notional amounts of $125 million. The objective of these hedges was to offset the change in fair value of the fixed rate 2015 notes attributable to changes in LIBOR. These transactions have been accounted for as fair value hedges. We have recognized the gain or loss on the derivative instruments, as well as the offsetting loss or gain on the hedged item, in “Other Income (Expense)—Net” in the consolidated statement of operations and comprehensive income.

In March 2012, in connection with our objective to manage exposure to interest rate changes and our policy to manage our fixed and floating-rate debt mix, these interest rate derivatives were terminated. This resulted in a gain of $0.3 million and the receipt of $5.0 million in cash on March 12, 2012, the swap termination settlement date. The gain of $0.3 million was recorded in “Other Income (Expense)—Net” in the consolidated statement of operations and comprehensive income during the nine months ended September 30, 2012. The $5.0 million cash received is reflected as an offset to interest paid in the unaudited consolidated statement of cash flows during the nine months ended September 30, 2012.

Approximately $0.8 million of derivative gains offset by a $0.5 million loss on the fair value adjustment related to the hedged debt were recorded through the date of termination in the results for the three months ended March 31, 2012. The $4.9 million adjustment in the carrying amount of the hedged debt at the date of termination will be amortized as an offset to “Interest Expense” in the consolidated statement of operations and comprehensive income over the remaining term of the 2015 notes. Approximately $0.7 million of amortization was recorded from the swap termination date through September 30, 2012, resulting in a balance of $4.2 million in our unaudited consolidated balance sheet at September 30, 2012.

In April 2008, we issued senior notes with a face value of $400 million that mature on April 1, 2013 (the “2013 notes”), bearing interest at a fixed annual rate of 6.00%, payable semi-annually. The interest rate applicable to the 2013 notes is subject to adjustment if our debt rating is decreased four levels below the Standard & Poor’s and Fitch A- credit ratings that we held on the date of issuance. After a rate adjustment, if our debt ratings are subsequently upgraded, the adjustment(s) would reverse. The maximum adjustment is 2.00% above the initial interest rate and the rate cannot adjust below 6.00%. As of September 30, 2012, no such adjustments to the interest rate have been made. Proceeds from this issuance were used to repay indebtedness under our revolving credit facility. During the second quarter of 2012, the 2013 notes had been reclassified from long-term debt to short-term debt because they will expire in less than one year. As such, the 2013 notes are recorded as “Short-Term Debt” in our unaudited consolidated balance sheet at September 30, 2012.

The 2013 notes were issued at face value and, in connection with the issuance, we incurred underwriting and other fees of $3.0 million. These costs are being amortized over the life of the 2013 notes. The 2013 notes contain certain covenants that limit our ability to create liens, enter into sale and leaseback transactions and consolidate, merge or sell assets to another entity. The 2013 notes do not contain any financial covenants.

On January 30, 2008, we entered into interest rate derivative transactions with an aggregate notional amount of $400 million. The objective of these hedges was to mitigate the variability of future cash flows from market changes in Treasury rates in anticipation of the issuance of the 2013 notes. These transactions were accounted for as cash flow hedges and, as such, changes in fair value of the hedges that took place through the date of the issuance of the 2013 notes were recorded in Accumulated Other Comprehensive Income (“AOCI”). In connection with the issuance of the 2013 notes, these interest rate derivative transactions were terminated, resulting in a loss and a payment of $8.5 million on March 28, 2008, the date of termination. The payments are recorded in AOCI and are being amortized over the life of the 2013 notes.

Credit Facility

At September 30, 2012 and December 31, 2011, we had an $800 million, five-year bank revolving credit facility, which expires in October 2016. Borrowings under the $800 million revolving credit facility are available at prevailing short-term interest rates. The facility requires the maintenance of interest coverage and total debt to Earnings Before Income Taxes, Depreciation and Amortization (“EBITDA”) ratios, which are defined in the credit agreement. We were in compliance with these revolving credit facility covenants at September 30, 2012 and December 31, 2011.

At September 30, 2012 and December 31, 2011, we had $320.1 million and $259.4 million, respectively, of borrowings outstanding under the $800 million revolving credit facility with weighted average interest rates of 1.39% and 1.58%, respectively. We borrowed under this facility from time-to-time during the nine months ended September 30, 2012 to supplement the timing of receipts in order to fund our working capital and share repurchases. The $800 million revolving credit facility also supports our commercial paper program which was increased from $300 million to $800 million during July 2012 (limited by borrowed amounts outstanding under the $800 million revolving credit facility). Under this program, we may issue from time-to-time unsecured promissory notes in the commercial paper market in private placements exempt from registration under the Securities Act of 1933, as amended, for a cumulative face amount not to exceed $800 million outstanding at any one time and with maturities not exceeding 364 days from the date of issuance. Outstanding commercial paper effectively reduces the amount available for borrowing under the $800 million revolving credit facility. We did not borrow under our commercial paper program during the nine months ended September 30, 2012 and 2011.

Other

At September 30, 2012 and December 31, 2011, certain of our international operations had uncommitted lines of credit of $2.1 million and $3.2 million, respectively. There were no borrowings outstanding under these lines of credit at September 30, 2012 and $0.2 million of borrowings outstanding under these lines of credit at December 31, 2011. These arrangements have no material facility fees and no compensating balance requirements.

At September 30, 2012 and December 31, 2011, we were contingently liable under open standby letters of credit and bank guarantees issued by our banks in favor of third parties and parent guarantees in favor of certain of our banks totaling $12.3 million and $12.2 million, respectively.

In March 2012, we terminated our interest rate derivative transactions resulting in the receipt of $5.0 million in cash on the date of termination. The $5.0 million cash received is reflected as an offset to interest paid in the unaudited consolidated statement of cash flows. Interest paid for all outstanding debt totaled $0.9 million and $13.3 million during the three month and nine month periods ended September 30, 2012, respectively. Interest paid for all outstanding debt totaled $0.6 million and $17.3 million during the three month and nine month periods ended September 30, 2011, respectively.

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Restructuring Charge

9 Months Ended

Sep. 30, 2012

Text Block [Abstract]

Restructuring Charge

Restructuring Charge

Financial Flexibility is an ongoing process by which we seek to reallocate our spending from low-growth or low-value activities to other activities that will create greater value for shareholders through enhanced revenue growth, improved profitability and/or quality improvements. With most initiatives, we have incurred restructuring charges (which generally consist of employee severance and termination costs, contract terminations, and/or costs to terminate lease obligations less assumed sublease income). These charges are incurred as a result of eliminating, consolidating, standardizing and/or automating our business functions.

Restructuring charges have been recorded in accordance with Accounting Standards Codification (“ASC”) 712-10, “Nonretirement Postemployment Benefits,” or “ASC 712-10” and/or ASC 420-10, “Exit or Disposal Cost Obligations,” or “ASC 420-10,” as appropriate.

We record severance costs provided under an ongoing benefit arrangement once they are both probable and estimable in accordance with the provisions of ASC 712-10.

We account for one-time termination benefits, contract terminations, and/or costs to terminate lease obligations less assumed sublease income in accordance with ASC 420-10, which addresses financial accounting and reporting for costs associated with restructuring activities. Under ASC 420-10, we establish a liability for cost associated with an exit or disposal activity, including severance and lease termination obligations, and other related costs, when the liability is incurred, rather than at the date that we commit to an exit plan. We reassess the expected cost to complete the exit or disposal activities at the end of each reporting period and adjust our remaining estimated liabilities, if necessary.

The determination of when we accrue for severance costs and which standard applies depends on whether the termination benefits are provided under an ongoing arrangement as described in ASC 712-10 or under a one-time benefit arrangement as defined by ASC 420-10. Inherent in the estimation of the costs related to the restructurings are assessments related to the most likely expected outcome of the significant actions to accomplish the exit activities. In determining the charges related to the restructurings, we had to make estimates related to the expenses associated with the restructurings. These estimates may vary significantly from actual costs depending, in part, upon factors that may be beyond our control. We will continue to review the status of our restructuring obligations on a quarterly basis and, if appropriate, record changes to these obligations in current operations based on management’s most current estimates.

Three months ended September 30, 2012 vs. Three months ended September 30, 2011

During the three months ended September 30, 2012, we recorded a $4.8 million restructuring charge. The significant components of these charges included:

• Severance and termination costs of $1.6 million in accordance with the provisions of ASC 712-10 were recorded. Approximately 50 employees were impacted. Of these 50 employees, approximately 35 employees exited the Company in the third quarter of 2012, with the remaining to exit in the fourth quarter of 2012. The cash payments for these employees will be substantially completed by the second quarter of 2013; and

• Lease termination obligations, other costs to consolidate or close facilities and other exit costs of $3.2 million.

During the three months ended September 30, 2011, we recorded a $5.3 million restructuring charge. The significant components of these charges included:

• Severance and termination costs of $4.6 million in accordance with the provisions of ASC 712-10 were recorded. Approximately 100 employees were impacted. Of these 100 employees, approximately 90 employees exited the Company in the third quarter of 2011, with the remaining having exited in the first quarter of 2012. The cash payments for these employees were substantially completed by the second quarter of 2012; and

• Lease termination obligations, other costs to consolidate or close facilities and other exit costs of $0.7 million.

Nine months ended September 30, 2012 vs. Nine months ended September 30, 2011

During the nine months ended September 30, 2012, we recorded a $23.2 million restructuring charge. The significant components of these charges included:

• Severance and termination costs of $12.8 million and $4.7 million in accordance with the provisions of ASC 712-10 and ASC 420-10, respectively, were recorded. Approximately 670 employees were impacted. Of these 670 employees, approximately 655 employees exited the Company by the conclusion of the third quarter of 2012, with the remaining to exit in the fourth quarter of 2012. The cash payments for these employees will be substantially completed by the second quarter of 2013; and

• Lease termination obligations, other costs to consolidate or close facilities and other exit costs of $5.7 million.

During the nine months ended September 30, 2011, we recorded an $18.0 million restructuring charge. The significant components of these charges included:

• Severance and termination costs of $14.2 million in accordance with the provisions of ASC 712-10 were recorded. Approximately 305 employees were impacted. Of these 305 employees, approximately 280 exited the Company by the conclusion of the third quarter of 2011, with the remaining having exited by the first quarter of 2012. The cash payments for these employees were substantially completed by the second quarter of 2012; and

• Lease termination obligations, other costs to consolidate or close facilities and other exit costs of $3.8 million.

The following tables set forth, in accordance with ASC 712-10 and/or ASC 420-10, the restructuring reserves and utilization related to our Financial Flexibility initiatives:

	Severance and Termination			Lease Termination Obligations and Other Exit Costs			Total
Restructuring Charges:
Balance Remaining as of December 31, 2011	$	8.3		$	2.2		$	10.5
Charge Taken during First Quarter 2012	6.7			2.4			9.1
Payments during First Quarter 2012	(4.0		)	(1.0		)	(5.0		)
Balance Remaining as of March 31, 2012	$	11.0		$	3.6		$	14.6
Charge Taken during Second Quarter 2012	9.2			0.1			9.3
Payments during Second Quarter 2012	(7.5		)	(0.8		)	(8.3		)
Balance Remaining as of June 30, 2012	$	12.7		$	2.9		$	15.6
Charge Taken during Third Quarter 2012	$	1.6		$	3.2		$	4.8
Payments during Third Quarter 2012	(6.7		)	(3.7		)	(10.4		)
Balance Remaining as of September 30, 2012	$	7.6		$	2.4		$	10.0

	Severance and Termination			Lease Termination Obligations and Other Exit Costs			Total
Restructuring Charges:
Balance Remaining as of December 31, 2010	$	8.9		$	0.5		$	9.4
Charge Taken during First Quarter 2011	4.2			—			4.2
Payments/Pension Plan Settlement (1) during First Quarter 2011	(5.1		)	—			(5.1		)
Balance Remaining as of March 31, 2011	$	8.0		$	0.5		$	8.5
Charge Taken during Second Quarter 2011	5.4			3.1			8.5
Payments during Second Quarter 2011	(3.9		)	(0.3		)	(4.2		)
Balance Remaining as of June 30, 2011	$	9.5		$	3.3		$	12.8
Charge Taken during Third Quarter 2011	$	4.6		$	0.7		$	5.3
Payments during Third Quarter 2011	(5.5		)	(1.4		)	(6.9		)
Balance Remaining as of September 30, 2011	$	8.6		$	2.6		$	11.2

(1) We incurred a settlement of $1.0 million in the first quarter of 2011 related to our Canadian Pension Plan.

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Restructuring Charge (Tables)

9 Months Ended

Sep. 30, 2012

Text Block [Abstract]

Restructuring Reserves and Utilization Related to Financial Flexibility Initiatives

The following tables set forth, in accordance with ASC 712-10 and/or ASC 420-10, the restructuring reserves and utilization related to our Financial Flexibility initiatives:

	Severance and Termination			Lease Termination Obligations and Other Exit Costs			Total
Restructuring Charges:
Balance Remaining as of December 31, 2011	$	8.3		$	2.2		$	10.5
Charge Taken during First Quarter 2012	6.7			2.4			9.1
Payments during First Quarter 2012	(4.0		)	(1.0		)	(5.0		)
Balance Remaining as of March 31, 2012	$	11.0		$	3.6		$	14.6
Charge Taken during Second Quarter 2012	9.2			0.1			9.3
Payments during Second Quarter 2012	(7.5		)	(0.8		)	(8.3		)
Balance Remaining as of June 30, 2012	$	12.7		$	2.9		$	15.6
Charge Taken during Third Quarter 2012	$	1.6		$	3.2		$	4.8
Payments during Third Quarter 2012	(6.7		)	(3.7		)	(10.4		)
Balance Remaining as of September 30, 2012	$	7.6		$	2.4		$	10.0

	Severance and Termination			Lease Termination Obligations and Other Exit Costs			Total
Restructuring Charges:
Balance Remaining as of December 31, 2010	$	8.9		$	0.5		$	9.4
Charge Taken during First Quarter 2011	4.2			—			4.2
Payments/Pension Plan Settlement (1) during First Quarter 2011	(5.1		)	—			(5.1		)
Balance Remaining as of March 31, 2011	$	8.0		$	0.5		$	8.5
Charge Taken during Second Quarter 2011	5.4			3.1			8.5
Payments during Second Quarter 2011	(3.9		)	(0.3		)	(4.2		)
Balance Remaining as of June 30, 2011	$	9.5		$	3.3		$	12.8
Charge Taken during Third Quarter 2011	$	4.6		$	0.7		$	5.3
Payments during Third Quarter 2011	(5.5		)	(1.4		)	(6.9		)
Balance Remaining as of September 30, 2011	$	8.6		$	2.6		$	11.2

(1) We incurred a settlement of $1.0 million in the first quarter of 2011 related to our Canadian Pension Plan.

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Financial Instruments

9 Months Ended

Sep. 30, 2012

Text Block [Abstract]

Financial Instruments

Financial Instruments

We employ established policies and procedures to manage our exposure to changes in interest rates and foreign currencies. We use foreign exchange forward contracts to hedge short-term foreign currency denominated loans, investments and certain third-party and intercompany transactions. We may also use foreign exchange forward contracts to hedge our net investments in our foreign subsidiaries and foreign exchange option contracts to reduce the volatility that fluctuating foreign exchange rates may have on our international earnings streams. In addition, we may use interest rate derivatives to hedge a portion of the interest rate exposure on our outstanding debt or in anticipation of a future debt issuance, as discussed under “Interest Rate Risk Management” below.

We do not use derivative financial instruments for trading or speculative purposes. If a hedging instrument ceases to qualify as a hedge in accordance with hedge accounting guidelines, any subsequent gains and losses are recognized currently in income. Collateral is generally not required for these types of instruments.

By their nature, all such instruments involve risk, including the credit risk of non-performance by counterparties. However, at September 30, 2012 and December 31, 2011, there was no significant risk of loss in the event of non-performance of the counterparties to these financial instruments. We control our exposure to credit risk through monitoring procedures.

Our trade receivables do not represent a significant concentration of credit risk at September 30, 2012 and December 31, 2011, because we sell to a large number of customers in different geographical locations.

Interest Rate Risk Management

Our objective in managing exposure to interest rates is to limit the impact of interest rate changes on our earnings, cash flows and financial position, and to lower overall borrowing costs. To achieve these objectives, we maintain a policy that floating-rate debt be managed within a minimum and maximum range of our total debt exposure. To manage our exposure and limit volatility, we may use fixed-rate debt, floating-rate debt and/or interest rate swaps. We recognize all derivative instruments as either assets or liabilities at fair value in the statement of financial position.

Fair Value Hedges

For interest rate derivative instruments that are designated and qualify as a fair value hedge, we assess quarterly whether the interest rate swaps are highly effective in offsetting changes in the fair value of the hedged debt. Changes in fair values of interest rate swap agreements that are designated fair-value hedges are recognized in earnings as an adjustment of “Other Income (Expense)—Net” in our consolidated statement of operations and comprehensive income. The effectiveness of the hedge is monitored on an ongoing basis for hedge accounting purposes, and if the hedge is considered ineffective, we discontinue hedge accounting prospectively.

In November 2010, we issued senior notes with a face value of $300 million that mature on November 15, 2015 (“the 2015 notes”). In November and December 2010, we entered into interest rate derivative transactions with aggregate notional amounts of $125 million. The objective of these hedges was to offset the change in fair value of the fixed rate 2015 notes attributable to changes in LIBOR. These transactions have been accounted for as fair value hedges. We have recognized the gain or loss on the derivative instruments, as well as the offsetting loss or gain on the hedged item, in “Other Income (Expense)—Net” in our consolidated statement of operations and comprehensive income.

In March 2012, in connection with our objective to manage exposure to interest rate changes and our policy to manage our fixed and floating-rate debt mix, these interest rate derivatives were terminated. This resulted in a gain of $0.3 million and the receipt of $5.0 million in cash on March 12, 2012, the swap termination settlement date. The gain of $0.3 million was recorded in “Other Income (Expense)—Net” in the consolidated statement of operations and comprehensive income during the nine months ended September 30, 2012. The $5.0 million cash received is reflected as an offset to interest paid in the unaudited consolidated statement of cash flows during the nine months ended September 30, 2012.

Approximately $0.8 million of derivative gains offset by a $0.5 million loss on the fair value adjustment related to the hedged debt were recorded through the date of termination in the results for the three months ended March 31, 2012. The $4.9 million adjustment in the carrying amount of the hedged debt at the date of termination will be amortized as an offset to “Interest Expense” in the consolidated statement of operations and comprehensive income over the remaining term of the 2015 notes. Approximately $0.7 million of amortization was recorded from the swap termination date through September 30, 2012, resulting in a balance of $4.2 million in our unaudited consolidated balance sheet at September 30, 2012.

Approximately $4.0 million of derivative gains offset by a $4.1 million loss on the fair value adjustment related to the hedged debt were recorded for the three months ended September 30, 2011. Approximately $5.8 million of derivative gains offset by a $5.9 million loss on the fair value adjustment related to the hedged debt were recorded for the nine months ended September 30, 2011.

Cash Flow Hedges

For interest rate derivative instruments that are designated and qualify as a cash flow hedge, the effective portion of the periodic hedge remeasurement gains or losses on the derivative are reported as a component of other comprehensive income and reclassified to earnings in the same period or periods during which the hedged transaction affects earnings. Gains and losses on the derivative representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in current earnings.

In January 2009 and December 2008, we entered into interest rate swap agreements with aggregate notional amounts of $25 million and $75 million, respectively, and designated these interest rate swaps as cash flow hedges against variability in cash flows related to our then existing $650 million revolving credit facility. These transactions were accounted for as cash flow hedges and, as such, changes in the fair value of the hedges were recorded in other comprehensive income. In connection with the termination of our former $650 million revolving credit facility, these interest rate derivative transactions were terminated, resulting in an acceleration of payments otherwise due under the instruments of $0.3 million on October 25, 2011, the $650 million revolving credit facility termination date, and were recorded in “Other Income (Expense)—Net” in the consolidated statement of operations and comprehensive income at December 31, 2011.

Foreign Exchange Risk Management

Our objective in managing exposure to foreign currency fluctuations is to reduce the volatility caused by foreign exchange rate changes on the earnings, cash flows and financial position of our international operations. We follow a policy of hedging balance sheet positions denominated in currencies other than the functional currency applicable to each of our various subsidiaries. In addition, we are subject to foreign exchange risk associated with our international earnings and net investments in our foreign subsidiaries. We use short-term, foreign exchange forward and option contracts to execute our hedging strategies. Typically, these contracts have maturities of twelve months or less. These contracts are denominated primarily in the British pound sterling, the Euro and Canadian dollar. The gains and losses on the forward contracts associated with the balance sheet positions are recorded in “Other Income (Expense)—Net” in our consolidated statement of operations and comprehensive income and are essentially offset by the gains and losses on the underlying foreign currency transactions.

As in prior years, we have hedged substantially all balance sheet positions denominated in a currency other than the functional currency applicable to each of our various subsidiaries with short-term, foreign exchange forward contracts. In addition, we may use foreign exchange option contracts to hedge certain foreign earnings streams and foreign exchange forward contracts to hedge certain net investment positions. The underlying transactions and the corresponding foreign exchange forward and option contracts are marked-to-market at the end of each quarter and the fair value impacts are reflected within our consolidated financial statements.

As of September 30, 2012 and 2011, the notional amounts of our foreign exchange contracts were $277.4 million and $379.0 million, respectively.

Fair Values of Derivative Instruments in the Consolidated Balance Sheet

	Asset Derivatives						Liability Derivatives
	September 30, 2012			December 31, 2011			September 30, 2012			December 31, 2011
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments
Interest rate contracts	Other Current Assets	$	—	Other Current Assets	$	4.3	Other Accrued & Current Liabilities	$	—	Other Accrued & Current Liabilities	$	—
Total Derivatives designated as hedging instruments		$	—		$	4.3		$	—		$	—
Derivatives not designated as hedging instruments
Foreign exchange forward contracts	Other Current Assets	$	—	Other Current Assets	$	0.7	Other Accrued & Current Liabilities	$	0.9	Other Accrued & Current Liabilities	$	0.7
Foreign exchange options contracts	Other Current Assets	0.1		Other Current Assets	—		Other Accrued & Current Liabilities	—		Other Accrued & Current Liabilities	—
Total derivatives not designated as hedging instruments		$	0.1		$	0.7		$	0.9		$	0.7
Total Derivatives		$	0.1		$	5.0		$	0.9		$	0.7

The Effect of Derivative Instruments on the Consolidated Statement of Operations and Comprehensive Income

Derivatives in Cash Flow Hedging Relationships	Amount of Gain or  (Loss) Recognized in OCI on Derivatives (Effective Portion)								Location of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	Amount of Gain or  (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)										Location of Gain or (Loss)  Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)	Amount of Gain or (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)
	For the Three Months Ended September 30,				For the Nine Months Ended September 30,					For the Three Months Ended September 30,					For the Nine Months Ended September 30,						For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2012		2011		2012		2011			2012		2011			2012		2011				2012		2011		2012		2011
Interest rate contracts	$	0.0	$	0.4	$	0.0	$	1.0	Non-Operating Income (Ex- penses) - Net	$	0.0	$	(0.4	)	$	0.0	$	(1.2	)	Non-Operating Income (Ex- penses) - Net	$	0.0	$	0.0	$	0.0	$	0.0

	Gain or (Loss) Recognized in Income on Derivatives
Derivatives in Fair Value Hedging Relationships	Location	For the Three Months Ended September 30,				For the Nine Months Ended September 30,				Hedged Item	Location	For the Three Months Ended September 30,					For the Nine Months Ended September 30,
		2012		2011		2012		2011				2012		2011			2012			2011
Interest rate contracts	Non-Operating Income (Expenses) - Net	$	0.0	$	4.0	$	0.8	$	5.8	Fixed- rate debt	Non-Operating Income (Expenses) - Net	$	0.0	$	(4.1	)	$	(0.5	)	$	(5.9	)

Our foreign exchange forward and option contracts are not designated as hedging instruments under authoritative guidance.

The Effect of Derivative Instruments on the Consolidated Statement of Operations and Comprehensive Income

Derivatives not Designated as Hedging Instruments	Location of Gain or (Loss) Recognized in Income on Derivatives	Amount of Gain or (Loss) Recognized in Income on Derivatives
		For the Three Months Ended September 30,						For the Nine Months Ended September 30,
		2012			2011			2012			2011
Foreign exchange forward contracts	Non-Operating Income (Expenses) - Net	$	6.1		$	(1.9	)	$	7.9		$	3.6
Foreign exchange option contracts	Non-Operating Income (Expenses) - Net	$	(0.2	)	$	—		$	(0.2	)	$	(0.4	)

Fair Value of Financial Instruments

Our financial assets and liabilities that are reflected in the consolidated financial statements include derivative financial instruments, cash and cash equivalents, accounts receivable, other receivables, accounts payable, short-term borrowings and long-term borrowings. We use short-term foreign exchange forward contracts to hedge short-term foreign currency-denominated intercompany loans and certain third-party and intercompany transactions and we use foreign exchange option contracts to reduce the volatility that fluctuating foreign exchange rates may have on our international earnings streams. Fair value for derivative financial instruments is determined utilizing a market approach.

We have a process for determining fair values. Fair value is based upon quoted market prices, where available. If listed prices or quotes are not available, we use quotes from independent pricing vendors based on recent trading activity and other relevant information including market interest rate curves and referenced credit spreads.

In addition to utilizing external valuations, we conduct our own internal assessment of the reasonableness of the external valuations by utilizing a variety of valuation techniques including Black-Scholes option pricing and discounted cash flow models that are consistently applied. Inputs to these models include observable market data, such as yield curves, and foreign exchange rates where applicable. Our assessments are designed to identify prices that do not accurately reflect the current market environment, those that have changed significantly from prior valuations and other anomalies that may indicate that a price may not be accurate. We also follow established routines for reviewing and reconfirming valuations with the pricing provider, if deemed appropriate. In addition, the pricing provider has an established challenge process in place for all valuations, which facilitates identification and resolution of potentially erroneous prices. Valuation adjustments may be made to ensure that financial instruments are recorded at fair value. These adjustments include amounts to reflect counterparty credit quality and our own creditworthiness and constraints on liquidity. For inactive markets that do not have observable pricing or sufficient trading volumes, or for positions that are subject to transfer restrictions, valuations are adjusted to reflect illiquidity and/or non-transferability. Such adjustments are generally based on available market evidence. In the absence of such evidence, management’s best estimate will be used.

The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while we believe our valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date.

The following table presents information about our assets and liabilities measured at fair value on a recurring basis as of September 30, 2012 and December 31, 2011, and indicates the fair value hierarchy of the valuation techniques utilized by us to determine such fair value. Level inputs, as defined by authoritative guidance, are as follows:

Level Input:	Input Definition:
Level I	Observable inputs utilizing quoted prices (unadjusted) for identical assets or liabilities in active markets at the measurement date.
Level II	Inputs other than quoted prices included in Level I that are either directly or indirectly observable for the asset or liability through corroboration with market data at the measurement date.
Level III	Unobservable inputs for the asset or liability in which little or no market data exists therefore requiring management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date.

In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability.

The following table summarizes fair value measurements by level at September 30, 2012 for assets and liabilities measured at fair value on a recurring basis:

	Quoted Prices in Active Markets for Identical Assets (Level I)		Significant Other Observable Inputs (Level II)		Significant Unobservable Inputs (Level III)		Balance at September 30, 2012
Assets:
Cash Equivalents (1)	$	47.9	$	—	$	—	$	47.9
Other Current Assets:
Foreign Exchange Option Contracts (2)	$	—	$	0.1	$	—	$	0.1
Liabilities:
Other Accrued and Current Liabilities:
Foreign Exchange Forwards (2)	$	—	$	0.9	$	—	$	0.9

(1) Cash equivalents represent fair value as it consists of highly liquid investments with an original maturity of three months or less.

(2) Primarily represents foreign currency forward and option contracts. Fair value is determined utilizing a market approach and considers a factor for nonperformance in the valuation.

The following table summarizes fair value measurements by level at December 31, 2011 for assets and liabilities measured at fair value on a recurring basis:

	Quoted Prices in Active Markets for Identical Assets (Level I)		Significant Other Observable Inputs (Level II)		Significant Unobservable Inputs (Level III)		Balance at December 31, 2011
Assets:
Cash Equivalents (1)	$	21.6	$	—	$	—	$	21.6
Other Current Assets:
Foreign Exchange Forwards (2)	$	—	$	0.7	$	—	$	0.7
Swap Arrangement (3)	$	—	$	4.3	$	—	$	4.3
Liabilities:
Other Accrued and Current Liabilities:
Foreign Exchange Forwards (2)	$	—	$	0.7	$	—	$	0.7

(1) Cash equivalents represent fair value as it consists of highly liquid investments with an original maturity of three months or less.

(2) Primarily represents foreign currency forward contracts. Fair value is determined utilizing a market approach and considers a factor for nonperformance in the valuation.

(3) Primarily represents our interest rate swap agreements including $4.3 million related to fair value hedges. Fair value is determined utilizing a market approach and considers a factor for nonperformance in the valuation.

At September 30, 2012 and December 31, 2011, the fair value of cash and cash equivalents, accounts receivable, other receivables and accounts payable approximated carrying value due to the short-term nature of these instruments. The estimated fair values of other financial instruments subject to fair value disclosures, determined based on valuation models using discounted cash flow methodologies with market data inputs from globally recognized data providers and third-party quotes from major financial institutions (categorized as Level II in the fair value hierarchy), are as follows:

	Balance at
	September 30, 2012				December 31, 2011
	Carrying Amount (Asset) Liability		Fair Value (Asset) Liability		Carrying Amount (Asset) Liability		Fair Value (Asset) Liability
Short-term Debt	$	400.0	$	421.9	$	—	$	—
Long-term Debt	$	299.3	$	311.1	$	699.2	$	723.3
Credit Facilities	$	320.1	$	316.2	$	259.4	$	259.8

Items Measured at Fair Value on a Nonrecurring Basis

In addition to assets and liabilities that are recorded at fair value on a recurring basis, we are required to record assets and liabilities at fair value on a nonrecurring basis as required by GAAP. Generally, assets are recorded at fair value on a nonrecurring basis as a result of impairment charges.

During the first quarter of 2012, we recorded an impairment charge of $12.9 million related to the accounts receivable, intangible assets, prepaid costs and software for Roadway, an operation in our Greater China reporting unit. See Note 7 to our unaudited consolidated financial statements included in this Quarterly Report on Form 10-Q for further discussion on this investigation. We determined that the new cost basis of intangible assets, prepaid costs and software is zero based on Level III inputs (see “Fair Value of Financial Instruments” above for discussion on Level inputs) to measure fair value, as market data of these assets are not readily available. We wrote down the accounts receivable to its realizable value based on the probability of collecting from the customer accounts. Of the $12.9 million impairment charge, $4.1 million was included in “Operating Costs” and $8.8 million was included in “Selling and Administrative Expenses” in our Asia Pacific segment.

During the nine months ended September 30, 2011, we did not measure any assets or liabilities at fair value on a nonrecurring basis.

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Contingencies

9 Months Ended

Sep. 30, 2012

Text Block [Abstract]

Contingencies

Contingencies

We are involved in tax and legal proceedings, claims and litigation arising in the ordinary course of business for which we believe that we have adequate reserves, and such reserves are not material to our consolidated financial statements. We record a liability when management believes that it is both probable that a liability has been incurred and we can reasonably estimate the amount of the loss. For such matters where management believes a liability is not probable but is reasonably possible, a liability is not recorded; instead, an estimate of loss or range of loss, if material individually or in the aggregate, is disclosed if reasonably estimable, or a statement will be made that an estimate of loss cannot be made. Once we have disclosed a matter that we believe is or could be material to us, we continue to report on such matter until there is finality of outcome or until we determine that disclosure is no longer warranted. Further, we believe our estimate of the aggregate range of reasonably possible losses, in excess of established reserves, for our legal proceedings was not material at September 30, 2012.

China Operations

On March 18, 2012, we announced that we had temporarily suspended our Shanghai Roadway D&B Marketing Services Co Ltd. (“Roadway”) operations in China, pending an investigation into allegations that its data collection practices may violate local Chinese consumer data privacy laws. Thereafter, the Company decided to permanently cease the operations of Roadway. In addition, we have been reviewing certain allegations that we may have violated the Foreign Corrupt Practices Act and certain other laws in our China operations. As previously reported, we have voluntarily contacted the Securities and Exchange Commission and the United States Department of Justice to advise both agencies of our investigation. Our investigation remains ongoing and is being conducted at the direction of the Audit Committee.

For the nine months ended September 30, 2012, the Roadway business had $5.4 million of revenue and $14.5 million of operating loss. Additionally, during the nine months ended September 30, 2012, we have incurred $11.0 million of legal fees and other corporate shut-down costs and $1.8 million in local shut-down costs, as well as, an impairment charge of $12.9 million related to accounts receivable, intangible assets, prepaid costs and software for Roadway, an operation in our Greater China reporting unit. D&B acquired Roadway’s operations in 2009, and for 2011 Roadway accounted for approximately $22 million in revenue and $2 million in operating income.

On September 28, 2012, Roadway was charged in a Bill of Prosecution, along with five current or former employees, by the Shanghai District Prosecutor with illegally obtaining private information of Chinese citizens. A trial date has not yet been set. We have been advised that a conviction of Roadway and the five individuals is likely, and that a criminal fine will be imposed on Roadway. We are unable to provide a reasonable estimate of the fine at this time.

As our investigation is ongoing, we cannot yet predict the ultimate outcome of the matter or its impact, if any, on our business, financial condition, or results of operations. No amount in respect of any potential liability in this matter, including for penalties, fines or other sanctions, has been accrued in our consolidated financial statements.

Nicholas Martin v. Dun & Bradstreet, Inc. and Convergys Customer Management Group, Inc., No. 12 CV 215 (USDC N.D. IL.)

On January 11, 2012, Nicholas Martin filed suit against Dun & Bradstreet, Inc. and Convergys Customer Management Group, Inc. ("Convergys") in the United States District Court for the Northern District of Illinois. The complaint alleges that Defendants violated the Telephone Consumer Protection Act (“TCPA”) (47 U.S.C. §227) because Convergys placed a telephone call to Plaintiff’s cell phone using an automatic telephone dialing system ("ATDS") and because Dun & Bradstreet, Inc. authorized the telephone call. The TCPA generally prohibits the use of an ATDS to place a call to a cell phone for nonemergency purposes and without the prior express consent of the called party. The TCPA provides for statutory damages of $500 per violation,which may be trebled to $1,500 per violation at the discretion of the court if the plantiff proves the defendant willfully violated the Act. Plaintiff sought to bring this action as a class action on behalf of all persons who Defendant(s) called on their cell phone using an ATDS, where the Defendant(s) obtained the cell phone number from some source other than directly from the called party, during the period January 11, 2010 to the present. Both Dun & Bradstreet, Inc. and Convergys answered the complaint on March 2, 2012. Discovery has commenced and at this point the court has not set any discovery cutoff dates. On August 21, 2012, the Court granted Plantiff's motion for class certification, without prejudice, and gave the Defendants until December 19, 2012 to seek a ruling that decertifies the class. On September 4, 2012, the Defendants each filed petitions seeking leave to appeal this ruling to the Seventh Circuit Court of Appeals. Discovery is still ongoing. Due to the inherent uncertainties of litigation, we cannot accurately predict the ultimate outcome of the matter. No amount in respect of any potential judgment in this matter has been accrued in our consolidated financial statements.

Other Matters

In addition, in the normal course of business, and including without limitation, our merger and acquisition activities and financing transactions, D&B indemnifies other parties, including customers, lessors and parties to other transactions with D&B, with respect to certain matters. D&B has agreed to hold the other parties harmless against losses arising from a breach of representations or covenants, or arising out of other claims made against certain parties. These agreements may limit the time within which an indemnification claim can be made and the amount of the claim. D&B has also entered into indemnity obligations with its officers and directors.

Additionally, in certain circumstances, D&B issues guarantee letters on behalf of our wholly-owned subsidiaries for specific situations. It is not possible to determine the maximum potential amount of future payments under these indemnification agreements due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular agreement. Historically, payments made by D&B under these agreements have not had a material impact on our unaudited consolidated financial statements.

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Acquisition - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	1 Months Ended
	Oct. 31, 2011
Business Acquisition [Line Items]
Business acquisition, purchase price	$ 14.4
Business acquisition, contingent consideration	1.5
Business acquisition, transaction costs	1.2
Intangible assets, amortization life (years), weighted-average useful life	8 years 6 months 1 day
Goodwill, Purchase price allocation	8.9
Other, Purchase price allocation	0.2
Intangible assets, Purchase price allocation	14.4
Business Acquisition, Purchase Price Allocation, Liabilities Assumed	0
Minimum
Business Acquisition [Line Items]
Intangible assets, amortization life (years), weighted-average useful life	6 years 6 months 1 day
Maximum
Business Acquisition [Line Items]
Intangible assets, amortization life (years), weighted-average useful life	10 years
Trademarks [Member]
Business Acquisition [Line Items]
Intangible assets, amortization life (years), weighted-average useful life	8 years 6 months 1 day
Intangible assets, Purchase price allocation	0.6
Customer Relationships [Member]
Business Acquisition [Line Items]
Intangible assets, amortization life (years), weighted-average useful life	10 years
Intangible assets, Purchase price allocation	2.7
Database Rights [Member]
Business Acquisition [Line Items]
Intangible assets, amortization life (years), weighted-average useful life	6 years 6 months 1 day
Intangible assets, Purchase price allocation	1.4
Technology [Member]
Business Acquisition [Line Items]
Intangible assets, amortization life (years), weighted-average useful life	6 years 6 months 1 day
Intangible assets, Purchase price allocation	$ 0.6

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Earnings Per Share

9 Months Ended

Sep. 30, 2012

Text Block [Abstract]

Earnings Per Share

Earnings Per Share

In accordance with the authoritative guidance in ASC 260-10, we are required to assess if any of our share-based payment transactions are deemed participating securities prior to vesting and therefore need to be included in the earnings allocation when computing Earnings Per Share (“EPS”) under the two-class method. The two-class method requires earnings to be allocated between common shareholders and holders of participating securities. All outstanding unvested share-based payment awards that contain non-forfeitable rights to dividends are considered to be a separate class of common stock and should be included in the calculation of basic and diluted EPS. Based on a review of our stock-based awards, we have determined that only our restricted stock awards are deemed participating securities. The weighted average restricted shares outstanding were 8,050 shares and 55,718 shares for the three months ended September 30, 2012 and 2011, respectively. The weighted average restricted shares outstanding were 15,543 shares and 74,908 shares for the nine months ended September 30, 2012 and 2011, respectively.

	Three months ended September 30,					Nine months ended September 30,
	2012		2011			2012			2011
Net Income Attributable to D&B	$	79.6	$	58.4		$	199.5		$	166.8
Less: Allocation to Participating Securities	—		(0.1		)	(0.1		)	(0.2		)
Net Income Attributable to D&B Common Shareholders - Basic and Diluted	$	79.6	$	58.3		$	199.4		$	166.6
Weighted Average Number of Shares Outstanding - Basic	44.8		48.9			46.4			49.2
Dilutive Effect of Our Stock Incentive Plans	0.4		0.2			0.4			0.4
Weighted Average Number of Shares Outstanding - Diluted	45.2		49.1			46.8			49.6
Basic Earnings Per Share of Common Stock Attributable to D&B Common Shareholders	$	1.77	$	1.19		$	4.29		$	3.38
Diluted Earnings Per Share of Common Stock Attributable to D&B Common Shareholders	$	1.76	$	1.19		$	4.26		$	3.36

Stock-based awards to acquire 1,376,145 shares and 1,720,584 shares of common stock were outstanding at the three months ended September 30, 2012 and 2011, respectively, but were not included in the computation of diluted earnings per share because the assumed proceeds, as calculated under the treasury stock method, resulted in these awards being anti-dilutive. Stock-based awards to acquire 1,385,966 shares and 1,451,235 shares of common stock were outstanding at the nine months ended September 30, 2012 and 2011, respectively, but were not included in the computation of diluted earnings per share because the assumed proceeds, as calculated under the treasury stock method, resulted in these awards being anti-dilutive. Our options generally expire ten years from the grant date.

Our share repurchases were as follows:

	For the Three Months Ended September 30,								For the Nine Months Ended September 30,
Program	2012				2011				2012				2011
	Shares		$ Amount		Shares		$ Amount		Shares		$ Amount		Shares		$ Amount
	(Dollar amounts in millions)								(Dollar amounts in millions)
Share Repurchase Programs	435,733	(a)	$	36.0	501,691	(b)	$	33.1	3,404,436	(a)	$	236.0	976,335	(b)	$	71.5
Repurchases to Mitigate the Dilutive Effect of the Shares Issued Under Our Stock Incentive Plans and Employee Stock Purchase Plan (“ESPP”)	—	(c)	—		308,809	(c)	21.0		59,563	(c)	4.0		666,365	(c)	50.1
Total Repurchases	435,733		$	36.0	810,500		$	54.1	3,463,999		$	240.0	1,642,700		$	121.6

(a) In August 2012, our Board of Directors approved a $500 million increase to our existing $500 million share repurchase program, for a total program authorization of $1 billion. The then existing $500 million program was announced in October 2011 and commenced in November 2011 upon completion of our then existing $200 million share repurchase program. We anticipate that this program will be completed in 2014.

(b) In February 2009, our Board of Directors approved a $200 million share repurchase program, which commenced in December 2009 upon completion of our then existing $400 million, two-year repurchase program. This program was completed in November 2011.

(c) In May 2010, our Board of Directors approved a four-year, five million share repurchase program to mitigate the dilutive effect of the shares issued under our stock incentive plans and ESPP. This program commenced in October 2010 and expires in October 2014. We anticipate that this program will be completed by October 2014.

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Other Accrued and Current Liabilities

9 Months Ended

Sep. 30, 2012

Text Block [Abstract]

Other Accrued and Current Liabilities

Other Accrued and Current Liabilities

	September 30, 2012		December 31, 2011
Restructuring Accruals	$	10.0	$	10.5
Professional Fees	37.8		33.6
Operating Expenses	42.0		35.1
Spin-Off Obligation (1)	1.6		20.5
Other Accrued Liabilities	40.8		53.9
	$	132.2	$	153.6

(1) In 2000, as part of a spin-off transaction under which Moody’s Corporation (“Moody’s”) and D&B became independent of one another, Moody’s and D&B entered into a Tax Allocation Agreement (“TAA”). Under the TAA, Moody’s and D&B agreed that Moody’s would be entitled to deduct the compensation expense associated with the exercise of Moody’s stock options (including Moody’s stock options exercised by D&B employees) and D&B would be entitled to deduct the compensation expense associated with the exercise of D&B stock options (including D&B stock options exercised by employees of Moody’s). Put simply, the tax deduction would go to the company that granted the stock options, rather than to the employer of the individual exercising the stock options. In 2002 and 2003, the Internal Revenue Service (“IRS”) issued rulings that clarified that, under the circumstances applicable to Moody’s and D&B, the compensation expense deduction belongs to the employer of the option grantee and not to the issuer of the option (e.g., D&B would be entitled to deduct the compensation expense associated with D&B employees exercising Moody’s options and Moody’s would be entitled to deduct the compensation expense associated with Moody’s employees exercising D&B options). We have filed tax returns for 2001 through 2011 consistent with the IRS rulings. We may be required to reimburse Moody’s for the loss of compensation expense deductions relating to tax years 2008 to 2010 of approximately $1.6 million in the aggregate for such years. This liability was reduced from $20.5 million at December 31, 2011 to $1.6 million during the first quarter of 2012 due to expiration of the statute of limitations. In 2005 and 2006, we paid Moody’s approximately $30.1 million in the aggregate, which represented the incremental tax benefits realized by D&B for tax years 2003-2005 from using the filing method consistent with the IRS rulings. In February 2011, we paid Moody’s an additional sum of approximately $2.5 million, for tax years 2003-2005. While not material, we may also be required to pay, in the future, amounts in addition to the approximately $1.6 million referenced above based upon interpretations by the parties of the TAA and the IRS rulings.

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Income Taxes

9 Months Ended

Sep. 30, 2012

Text Block [Abstract]

Income Taxes

Income Taxes

For the three months ended September 30, 2012, our effective tax rate was 5.6% as compared to 29.7% for the three months ended September 30, 2011. The 2012 effective tax rate was positively impacted by the release of reserves for uncertain tax positions primarily due to the effective settlement of an audit for the tax years 2005 and 2006.The effective tax rate for the three months ended September 30, 2011 was positively impacted by a tax benefit on a loss on the tax basis of a legal entity and negatively impacted by the tax impact of a loss on an investment. For the three months ended September 30, 2012, there are no changes in our effective tax rate that either have had or that we expect may reasonably have a material impact on our operations or future performance.

For the nine months ended September 30, 2012, our effective tax rate was 15.7% as compared to 29.3% for the nine months ended September 30, 2011. The effective tax rate for the nine months ended September 30, 2012, as compared to the nine months ended September 30, 2011 was positively impacted by the release of reserves for uncertain tax positions due to the effective settlement of an audit for the tax years 2005 and 2006, by a tax benefit on a loss on the tax basis of a legal entity and by tax benefits from the divestiture of the domestic portion of our Japan operations and negatively impacted by an impairment related to permanently ceasing operations of Roadway in China. The effective tax rate for the nine months ended September 30, 2011 was positively impacted by the release of reserves for uncertain tax positions due to the expiration of a statute of limitations for the tax year 2004 and by a tax benefit on a loss on the tax basis of a legal entity and negatively impacted by a reduction of our deferred tax assets resulting from an enacted change to the state of New Jersey's tax law during the second quarter of 2011 and the tax impact of a loss on an investment. For the nine months ended September 30, 2012, there are no changes in our effective tax rate that either have had or that we expect may reasonably have a material impact on our operations or future performance.

The total amount of gross unrecognized tax benefits as of September 30, 2012 was $100.0 million. The amount of unrecognized tax benefits that, if recognized, would impact the effective tax rate is $93.9 million, net of tax benefits. During the three months ended September 30, 2012, we decreased our unrecognized tax benefits by $24.9 million, net of increases. The decrease is primarily related to the effective settlement of an audit for the tax years 2005 and 2006. During the nine months ended September 30, 2012, we decreased our unrecognized tax benefits by approximately $20.1 million, net of increases, primarily related to the effective settlement of an audit for the tax years 2005 and 2006. We anticipate that it is reasonably possible total unrecognized tax benefits will decrease by approximately $59 million within the next twelve months as a result of the expiration of applicable statutes of limitation.

We recognize accrued interest expense related to unrecognized tax benefits in income tax expense. The total amount of interest expense recognized in the three month and nine month periods ended September 30, 2012 was $1.2 million and $2.5 million, net of tax benefits, respectively, as compared to $0.9 million and $2.6 million, net of tax benefits in the three month and nine month periods ended September 30, 2011, respectively. The total amount of accrued interest as of September 30, 2012 was $8.2 million, net of tax benefits, as compared to $11.0 million, net of tax benefits, as of September 30, 2011.

We or one of our subsidiaries file income tax returns in the U.S. Federal, and various state, local and foreign jurisdictions. In the U.S. Federal jurisdiction, we are no longer subject to examination by the IRS for years prior to 2007. In state and local jurisdictions, with a few exceptions, we are no longer subject to examinations by tax authorities for years prior to 2008. In foreign jurisdictions, with a few exceptions, we are no longer subject to examinations by tax authorities for years prior to 2007.

We have resolved the 2005 and 2006 tax years with IRS Appeals regarding the proposed Domestic Production Deduction Adjustments. As a result of our agreement, there were no changes in our tax liability for 2005 and 2006. The IRS is examining our 2007, 2008 and 2009 tax years. We expect the examination will be completed in the fourth quarter of 2013.

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Restructuring Reserves and Utilization Related to Financial Flexibility Initiatives (Parenthetical) (Detail) (Canadian Pension Plan, USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 30, 2011
Canadian Pension Plan
Restructuring Cost and Reserve [Line Items]
Settlement related to Pension Plan	$ 1.0

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Supplemental Geographic and Customer Solution Set Information (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended				9 Months Ended
	Sep. 30, 2012		Sep. 30, 2011		Sep. 30, 2012		Sep. 30, 2011
Segment Reporting Disclosure [Line Items]
Revenue	$ 413.2		$ 439.4		$ 1,199.9		$ 1,259.8
Divested and other revenue	0		28.6		18.1		79.5
Risk Management Solutions
Segment Reporting Disclosure [Line Items]
Divested and other revenue	0		10.1		8.7		28.4
Sale and Marketing Solutions
Segment Reporting Disclosure [Line Items]
Divested and other revenue	0		17.6		9.4		48.0
Internet Solutions
Segment Reporting Disclosure [Line Items]
Divested and other revenue	0		0.9		0		3.1
Segment, Continuing Operations
Segment Reporting Disclosure [Line Items]
Revenue	413.2		410.8		1,181.8		1,180.3
Divested and other revenue	0	[1]	28.6	[1]	18.1	[1]	79.5	[1]
Segment, Continuing Operations | Risk Management Solutions
Segment Reporting Disclosure [Line Items]
Revenue	265.8		273.0		775.8		795.6
Segment, Continuing Operations | Sale and Marketing Solutions
Segment Reporting Disclosure [Line Items]
Revenue	117.5		107.3		316.5		295.9
Segment, Continuing Operations | Internet Solutions
Segment Reporting Disclosure [Line Items]
Revenue	29.9		30.5		89.5		88.8
North America
Segment Reporting Disclosure [Line Items]
Revenue	308.3		307.0		872.8		886.5
North America | Segment, Continuing Operations
Segment Reporting Disclosure [Line Items]
Revenue	308.3		304.7		872.8		879.2
Divested and other revenue	0	[1]	2.3	[1]	0	[1]	7.3	[1]
North America | Segment, Continuing Operations | Risk Management Solutions
Segment Reporting Disclosure [Line Items]
Revenue	178.8		183.5		518.5		539.8
North America | Segment, Continuing Operations | Sale and Marketing Solutions
Segment Reporting Disclosure [Line Items]
Revenue	100.5		91.6		267.3		253.1
North America | Segment, Continuing Operations | Internet Solutions
Segment Reporting Disclosure [Line Items]
Revenue	29.0		29.6		87.0		86.3
Asia Pacific
Segment Reporting Disclosure [Line Items]
Revenue	44.8		69.5		151.3		194.3
Asia Pacific | Segment, Continuing Operations
Segment Reporting Disclosure [Line Items]
Revenue	44.8		43.2		133.2		122.1
Divested and other revenue	0	[1]	26.3	[1]	18.1	[1]	72.2	[1]
Asia Pacific | Segment, Continuing Operations | Risk Management Solutions
Segment Reporting Disclosure [Line Items]
Revenue	38.1		38.9		112.2		108.0
Asia Pacific | Segment, Continuing Operations | Sale and Marketing Solutions
Segment Reporting Disclosure [Line Items]
Revenue	6.5		4.1		20.5		13.4
Asia Pacific | Segment, Continuing Operations | Internet Solutions
Segment Reporting Disclosure [Line Items]
Revenue	0.2		0.2		0.5		0.7
Europe and Other International Markets
Segment Reporting Disclosure [Line Items]
Revenue	60.1		62.9		175.8		179.0
Europe and Other International Markets | Segment, Continuing Operations
Segment Reporting Disclosure [Line Items]
Revenue	60.1		62.9		175.8		179.0
Divested and other revenue	0		0		0		0
Europe and Other International Markets | Segment, Continuing Operations | Risk Management Solutions
Segment Reporting Disclosure [Line Items]
Revenue	48.9		50.6		145.1		147.8
Europe and Other International Markets | Segment, Continuing Operations | Sale and Marketing Solutions
Segment Reporting Disclosure [Line Items]
Revenue	10.5		11.6		28.7		29.4
Europe and Other International Markets | Segment, Continuing Operations | Internet Solutions
Segment Reporting Disclosure [Line Items]
Revenue	$ 0.7		$ 0.7		$ 2.0		$ 1.8

[1] During the nine months ended September 30, 2012, we: a) completed the sale of: i) the domestic portion of our Japanese operations to TSR; and ii) our market research business in China, consisting of two joint venture companies; and b) the shut-down of our Roadway operations. These businesses have been classified as “Divested and Other Businesses.” These Divested and Other Businesses contributed 38% to our Asia Pacific total revenue for the three months ended September 30, 2011. These Divested and Other Businesses contributed contributed 12% and 37% to our Asia Pacific total revenue for the nine months ended September 30, 2012 and 2011, respectively.During the nine months ended September 30, 2012, we completed the sale of: i) AllBusiness.com, Inc.; ii) Purisma Incorporated; and iii) a small supply management company. These businesses have been classified as “Divested and Other Businesses.” These Divested and Other Businesses contributed 1%, to our North America total revenue for the three month and nine month periods ended September 30, 2011, respectively.The following table represents Divested and Other Businesses revenue by solution set: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2012 2011 2012 2011Divested and Other Businesses: Risk Management Solutions$— $10.1 $8.7 $28.4Sales & Marketing Solutions— 17.6 9.4 48.0Internet Solutions— 0.9 — 3.1Total Divested and Other Businesses Revenue$— $28.6 $18.1 $79.5 September 30, 2012 December 31, 2011Assets: North America$693.2 $790.6Asia Pacific419.5 466.8Europe and Other International Markets317.6 317.8Total Segments1,430.3 1,575.2Corporate and Other (primarily taxes)391.3 401.9Consolidated Total$1,821.6 $1,977.1Goodwill (4): North America$266.8 $266.0Asia Pacific232.6 222.0Europe and Other International Markets108.4 110.4Consolidated Total$607.8 $598.4 (4)The increase in goodwill

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Divestitures and Other Businesses

9 Months Ended

Sep. 30, 2012

Text Block [Abstract]

Divestitures and Other Businesses

Divestitures and Other Businesses

Shanghai Roadway D&B Marketing Services Co Ltd.

On March 18, 2012, we announced that we had temporarily suspended our Shanghai Roadway D&B Marketing Services Co Ltd. (“Roadway”) operations in China, pending an investigation into allegations that its data collection practices may violate local Chinese consumer data privacy laws. Thereafter, the Company decided to permanently cease the operations of Roadway. In addition, we have been reviewing certain allegations that we may have violated the Foreign Corrupt Practices Act and certain other laws in our China operations. As previously reported, we have voluntarily contacted the Securities and Exchange Commission and the United States Department of Justice to advise both agencies of our investigation. Our investigation remains ongoing and is being conducted at the direction of the Audit Committee.

For the nine months ended September 30, 2012, the Roadway business had $5.4 million of revenue and $14.5 million of operating loss. Additionally, during the nine months ended September 30, 2012, we have incurred $11.0 million of legal fees and other corporate shut-down costs and $1.8 million in local shut-down costs, as well as, an impairment charge of $12.9 million related to accounts receivable, intangible assets, prepaid costs and software for Roadway, an operation in our Greater China reporting unit. D&B acquired Roadway’s operations in 2009, and for 2011 Roadway accounted for approximately $22 million in revenue and $2 million in operating income.

On September 28, 2012, Roadway was charged in a Bill of Prosecution, along with five current or former employees, by the Shanghai District Prosecutor with illegally obtaining private information of Chinese citizens. A trial date has not yet been set. We have been advised that a conviction of Roadway and the five individuals is likely, and that a criminal fine will be imposed on Roadway. We are unable to provide a reasonable estimate of the fine at this time.

Domestic Portion of our Japanese Joint Venture

In February 2012, we completed the sale of the domestic portion of our Japan operations to TSR, our local joint venture partner since December 2007, for $4.5 million. As a result, we recorded a pre-tax gain of $3.0 million in Other Income (Expense) – Net in the unaudited consolidated statement of operations and comprehensive income during the nine months ended September 30, 2012. Our domestic Japanese operations generated approximately $64 million in revenue during 2011.

Simultaneously with closing this transaction, we entered into a ten-year commercial arrangement to provide TSR with global data for its Japanese customers and to become the exclusive distributor of TSR data to the Worldwide Network. From the date of this transaction, this arrangement has aggregate future cash payments of approximately $140 million.

AllBusiness.com, Inc.

In February 2012, we completed the sale of AllBusiness.com, Inc., a U.S. entity included in our North American reporting segment, for $0.4 million. As a result, we recorded a pre-tax loss of $0.4 million in Other Income (Expense) – Net in the unaudited consolidated statement of operations and comprehensive income during the nine months ended September 30, 2012. AllBusiness.com, Inc. generated approximately $4 million in revenue during 2011.

Chinese Market Research Joint Ventures

In January 2012, we completed the sale of our market research business in China, consisting of two joint venture companies, by selling our equity interests in such companies to our partner for a total purchase price of $5.0 million. As a result, we recorded a pre-tax gain of $1.4 million in Other Income (Expense) – Net in the unaudited consolidated statement of operations and comprehensive income during the nine months ended September 30, 2012. The joint venture generated approximately $16 million in revenue during 2011.

Purisma Incorporated

In January 2012, we completed the sale of Purisma Incorporated, a U.S. entity included in our North American reporting segment, for $2.0 million. As a result, we recorded a pre-tax gain of $2.0 million in Other Income (Expense) – Net in the unaudited consolidated statement of operations and comprehensive income during the nine months ended September 30, 2012. Purisma Incorporated generated approximately $4 million in revenue during 2011.

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Other Accrued and Current Liabilities (Tables)

9 Months Ended

Sep. 30, 2012

Text Block [Abstract]

Other Accrued and Current Liabilities

	September 30, 2012		December 31, 2011
Restructuring Accruals	$	10.0	$	10.5
Professional Fees	37.8		33.6
Operating Expenses	42.0		35.1
Spin-Off Obligation (1)	1.6		20.5
Other Accrued Liabilities	40.8		53.9
	$	132.2	$	153.6

(1) In 2000, as part of a spin-off transaction under which Moody’s Corporation (“Moody’s”) and D&B became independent of one another, Moody’s and D&B entered into a Tax Allocation Agreement (“TAA”). Under the TAA, Moody’s and D&B agreed that Moody’s would be entitled to deduct the compensation expense associated with the exercise of Moody’s stock options (including Moody’s stock options exercised by D&B employees) and D&B would be entitled to deduct the compensation expense associated with the exercise of D&B stock options (including D&B stock options exercised by employees of Moody’s). Put simply, the tax deduction would go to the company that granted the stock options, rather than to the employer of the individual exercising the stock options. In 2002 and 2003, the Internal Revenue Service (“IRS”) issued rulings that clarified that, under the circumstances applicable to Moody’s and D&B, the compensation expense deduction belongs to the employer of the option grantee and not to the issuer of the option (e.g., D&B would be entitled to deduct the compensation expense associated with D&B employees exercising Moody’s options and Moody’s would be entitled to deduct the compensation expense associated with Moody’s employees exercising D&B options). We have filed tax returns for 2001 through 2011 consistent with the IRS rulings. We may be required to reimburse Moody’s for the loss of compensation expense deductions relating to tax years 2008 to 2010 of approximately $1.6 million in the aggregate for such years. This liability was reduced from $20.5 million at December 31, 2011 to $1.6 million during the first quarter of 2012 due to expiration of the statute of limitations. In 2005 and 2006, we paid Moody’s approximately $30.1 million in the aggregate, which represented the incremental tax benefits realized by D&B for tax years 2003-2005 from using the filing method consistent with the IRS rulings. In February 2011, we paid Moody’s an additional sum of approximately $2.5 million, for tax years 2003-2005. While not material, we may also be required to pay, in the future, amounts in addition to the approximately $1.6 million referenced above based upon interpretations by the parties of the TAA and the IRS rulings.

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Segment Information (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended				9 Months Ended
	Sep. 30, 2012		Sep. 30, 2011		Sep. 30, 2012		Sep. 30, 2011
Segment Reporting Disclosure [Line Items]
Revenue	$ 413.2		$ 439.4		$ 1,199.9		$ 1,259.8
Divested and other revenue	0		28.6		18.1		79.5
Operating Income (Loss)	109.7		100.7		273.4		279.7
Non-Operating Income (Expense), Net	(24.7)	[1],[2]	(17.6)	[1],[2]	(36.1)	[1],[2]	(46.6)	[1],[2]
Income Before Provision for Income Taxes and Equity in Net Income of Affiliates	85.0		83.1		237.3		233.1
North America
Segment Reporting Disclosure [Line Items]
Revenue	308.3		307.0		872.8		886.5
Asia Pacific
Segment Reporting Disclosure [Line Items]
Revenue	44.8		69.5		151.3		194.3
Europe and Other International Markets
Segment Reporting Disclosure [Line Items]
Revenue	60.1		62.9		175.8		179.0
Total Segments
Segment Reporting Disclosure [Line Items]
Revenue	413.2		410.8		1,181.8		1,180.3
Operating Income (Loss)	139.7		132.5		368.7		370.9
Total Segments | North America
Segment Reporting Disclosure [Line Items]
Revenue	308.3		304.7		872.8		879.2
Operating Income (Loss)	117.3		112.1		323.0		324.0
Total Segments | Asia Pacific
Segment Reporting Disclosure [Line Items]
Revenue	44.8		43.2		133.2		122.1
Operating Income (Loss)	5.1		5.0		(0.4)		10.7
Total Segments | Europe and Other International Markets
Segment Reporting Disclosure [Line Items]
Revenue	60.1		62.9		175.8		179.0
Operating Income (Loss)	17.3		15.4		46.1		36.2
Corporate and Other
Segment Reporting Disclosure [Line Items]
Operating Income (Loss)	$ (30.0)	[3]	$ (31.8)	[3]	$ (95.3)	[3]	$ (91.2)	[3]

[1] The following table summarizes "Non-Operating Income (Expense):" For the Three Months Ended For the Nine Months Ended September 30, September 30, 2012 2011 2012 2011 Interest Income $ 0.2 $ 0.4 $ 0.5 $ 1.3 Interest Expense (9.5 ) (9.1 ) (27.8 ) (27.4 ) Other Income (Expense) - Net (15.4) (8.9 ) (8.8) (20.5 ) Non-Operating Income (Expense) - Net $ (24.7 ) $ (17.6 ) $ (36.1 ) $ (46.6 )

[2] The following table summarizes "Corporate and Other:" For the Three Months Ended For the Nine Months Ended September 30, September 30, 2012 2011 2012 2011 Corporate Costs $ (13.1 ) $ (14.0 ) $ (35.5 ) $ (40.6 ) Restructuring Expense (4.8 ) (5.3 ) (23.2 ) (18.0 ) Strategic Technology Investment or MaxCV (6.7 ) (12.5 ) (25.6 ) (32.6 ) Legal Fees Associated with Allegations in China (5.4 ) 0.0 (11.0 ) 0.0 Total Corporate and Other $ (30.0 ) $ (31.8) $ (95.3 ) $ (91.2 )

[3] The following table summarizes "Non-Operating Income (Expense):" For the Three Months Ended For the Nine Months Ended September 30, September 30, 2012 2011 2012 2011 Interest Income $ 0.2 $ 0.4 $ 0.5 $ 1.3 Interest Expense (9.5) (9.1 ) (27.8 ) (27.4 ) Other Income (Expense) - Net (15.4) (8.9 ) (8.8) (20.5 ) Non-Operating Income (Expense) - Net $ (9.0 ) $ (16.9 ) $ (11.4 ) $ (29.0 )

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Share Repurchases (Parenthetical) (Detail) (USD $) In Millions, unless otherwise specified	1 Months Ended		3 Months Ended	1 Months Ended	12 Months Ended	1 Months Ended
	Aug. 31, 2012 Share repurchase plan, 2011 Share Repurchase Programs	Oct. 30, 2011 Share repurchase plan, 2011 Share Repurchase Programs	Sep. 30, 2012 Share repurchase plan, 2011 Share Repurchase Programs	Feb. 27, 2009 Share repurchase plan, 2009 Share Repurchase Programs	Dec. 29, 2009 Share repurchase plan, 2007 Share Repurchase Programs	May 30, 2010 Share Repurchase Program, 2010 Repurchases to Mitigate the Dilutive Effect of the Shares Issued Under Our Stock Incentive Plans and Employee Stock Purchase Plan ("ESPP")
Accelerated Share Repurchases [Line Items]
Amount approved for repurchase of shares	$ 500	$ 500	$ 1,000	$ 200	$ 400	$ 5
Repurchase program, commencement date		2011-11		2009-12
Repurchase program, period					2 years	4 years
Share repurchase program, completion date					2011-11	2014-10

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Consolidated Balance Sheets (Parenthetical) (USD $) In Millions, except Per Share data, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
Accounts Receivable, Allowance	$ 25.3	$ 17.1
Property, Plant and Equipment, Accumulated Depreciation	81.6	83.1
Computer Software, Accumulated Amortization	$ 446.2	$ 409.9
Treasury Stock, shares	37.4	34.2
Series A Junior Participating Preferred Stock
Preferred Stock, par value per share	$ 0.01	$ 0.01
Preferred Stock, authorized	0.5	0.5
Preferred Stock, outstanding	0	0
Preferred Stock
Preferred Stock, par value per share	$ 0.01	$ 0.01
Preferred Stock, authorized	9.5	9.5
Preferred Stock, outstanding	0	0
Series Common Stock
Common Stock, par value per share	$ 0.01	$ 0.01
Common Stock, authorized	10.0	10.0
Series Common Stock, outstanding	0	0
Common Stock
Common Stock, par value per share	$ 0.01	$ 0.01
Common Stock, authorized	200.0	200.0
Common Stock, issued	81.9	81.9

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Recent Accounting Pronouncements

9 Months Ended

Sep. 30, 2012

Text Block [Abstract]

Recent Accounting Pronouncements

Recent Accounting Pronouncements

In July 2012, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2012-02, “Intangibles – Goodwill and Other (Topic 350): Testing Indefinite-Lived Intangible Assets for Impairment.” The amendments in this ASU allow a company to qualitatively assess whether indefinite-lived intangible assets are more likely than not impaired. If the indefinite-lived intangible assets are considered impaired, a company is required to perform the quantitative test under ASC 350-30, “Intangibles – Goodwill and Other – General Intangibles Other than Goodwill.” The authoritative guidance does not amend the requirement to test indefinite-lived intangible assets annually for impairment. In addition, the authoritative guidance does not amend the requirement to test these assets for impairment between annual tests if there is a change in events or circumstances. The authoritative guidance is effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. Early adoption is permitted if a public entity’s financial statements for the most recent annual or interim period have not yet been issued. We do not expect that the adoption of this authoritative guidance will have a material impact on our consolidated financial statements.

In December 2011, the FASB issued ASU No. 2011-11, “Balance Sheet (Topic 210); Disclosures about Offsetting Assets and Liabilities.” The amendments in this ASU require a company to disclose information about offsetting and related arrangements to enable users of its financial statements to understand the effect of those arrangements on its financial position. An entity is required to apply the amendments for annual reporting periods beginning on or after January 1, 2013 and interim periods within those annual periods. A company should provide the disclosures required by those amendments retrospectively for all comparative periods presented. We do not expect that the adoption of this authoritative guidance will have a material impact on our consolidated financial statements.

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Assets and Liabilities Measured at Fair Value on Recurring Basis (Parenthetical) (Detail) (Other Accrued and Current Liabilities, Fair Value, Measurements, Recurring, Swap Arrangement, USD $) In Millions, unless otherwise specified	Dec. 31, 2011
Other Accrued and Current Liabilities | Fair Value, Measurements, Recurring | Swap Arrangement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities measured at fair value, fair value hedges	$ 4.3

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Pension and Postretirement Benefits (Tables)

9 Months Ended

Sep. 30, 2012

Text Block [Abstract]

Components of Net Periodic (Income) Cost Associated with Pension Plans and Postretirement Benefit Obligations

The following table sets forth the components of the net periodic cost (income) associated with our pension plans and our postretirement benefit obligations:

	Pension Plans												Postretirement Benefit Obligations
	For the Three Months Ended September 30,						For the Nine Months Ended September 30,						For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2012			2011			2012			2011			2012			2011			2012			2011
Components of Net Periodic Cost (Income):
Service cost	$	1.3		$	1.1		$	4.4		$	4.5		$	0.3		$	—		$	0.5		$	0.2
Interest cost	19.0			21.2			56.5			63.9			0.1			0.2			0.5			0.7
Expected return on plan assets	(25.0		)	(27.8		)	(74.7		)	(82.9		)	—			—			—			—
Amortization of prior service cost (credit)	0.1			—			0.3			0.2			(2.4		)	(2.4		)	(7.4		)	(7.4		)
Recognized actuarial loss (gain)	9.0			6.5			26.7			20.1			(0.9		)	(0.6		)	(1.9		)	(1.7		)
Net Periodic Cost (Income)	$	4.4		$	1.0		$	13.2		$	5.8		$	(2.9	)	$	(2.8	)	$	(8.3	)	$	(8.2	)

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Earnings Per Share - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Weighted average restricted shares outstanding	8,050	55,718	15,543	74,908
Stock-based awards to acquire shares of common stock outstanding but not included in computation of diluted earnings per share (in shares)	1,376,145	1,720,584	1,385,966	1,451,235
Options, expiration period	10 years		10 years

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Acquisition

9 Months Ended

Sep. 30, 2012

Text Block [Abstract]

Acquisition

Acquisition

MicroMarketing D&B (Beijing) Co. Ltd

On November 1, 2011, we acquired substantially all of the assets of MicroMarketing, a leading provider of direct and digital marketing services in China with offices in Beijing and Shanghai. Specifically, MicroMarketing provides Sales & Marketing solutions in the technology sector and is expanding into higher growth targeted sectors including financial services, pharmaceuticals and automotive. This acquisition represents an important step to continue to grow our business in China. MicroMarketing will expand our business-to-business database in China and add digital marketing capabilities to enable us to better serve the sales and marketing needs of our customers. The results of MicroMarketing have been included in our consolidated financial statements since the date of acquisition.

The acquisition was valued at $14.4 million, including a contingent consideration of $1.5 million. The acquisition was funded with cash on hand. Transaction costs of $1.2 million were included in operating expenses in the consolidated statement of operations and comprehensive income. The performance targets set forth in the purchase agreement for the contingent consideration are not expected to be met. As a result, this contingent liability was reversed in the second quarter of 2012, reducing our operating expenses in the consolidated statement of operations and comprehensive income. The acquisition was accounted for as a purchase transaction, and accordingly, the assets and liabilities of the acquired entity were recorded at their estimated fair values at the date of the acquisition. The table below reflects the purchase related to the acquisition and the resulting purchase price allocation:

	Amortization Life (years)	Acquisition
Intangible Assets:
Trademark	8.5	$	0.6
Customer Relationships	10	2.7
Database	6.5	1.4
Technology	6.5	0.6
Goodwill	Indefinite	8.9
Other		0.2
Total Assets Acquired		14.4
Total Liabilities Assumed		—
Total Purchase Price		$	14.4

The goodwill was assigned to our Greater China reporting unit, which is a part of our Asia Pacific segment. The primary item that generated the goodwill is the value of revenue growth from MicroMarketing’s future customers and future technology development. The intangible assets, with useful lives from 6.5 to 10 years, are being amortized over a weighted-average useful life of 8.5 years. The intangibles have been recorded as “Trademarks, Patents and Other” within Other Non-Current Assets in our consolidated balance sheet since the date of acquisition. The impact that the acquisition would have had on our results had the acquisition occurred at the beginning of 2011 was not material, and as such, pro forma financial results have not been presented.

Treatment of Goodwill

The acquisition of MicroMarketing was an asset acquisition and under applicable tax law the goodwill acquired is not deductible for tax purposes.