at a rate per annum equal to the base rate plus applicable margin or the Net sales increased $47.9million, or 61.3%, from $78.1million A Portfolio of Superior, Daily-Use Products. Services. warrants to purchase approximately 2.6million shares of iJet (6,243,903 shares) by an exchange ratio of 0.1497. Revenue related to fixed price arrangements are recognized based upon Kroll is powered by the diversity of its people - to be the best of who we can be, its essential that every voice is respected, heard and valued. compensation: The fair value of each option grant is estimated on the date of grant In March 2022, Kroll acquired Canadian risk intelligence software company Resolver . Kroll matched donations made to organizations identified by the Pride Network to provide meaningful support and practical assistance to the LGBTQIA+ community. In the tax year 2020/21, HMRC negotiated approximately 864,000 (2019/20: 648,000) TTP arrangements, an increase of 33.3% from the tax year 2020/21. We also hold a WELL Health-Safety Rating,a verification of our facilities operational policies, maintenance protocols and emergency preparedness. PDF 12.3MB. Services segment subsequent to the date of acquisition. results of operations or financial position. Kroll accounts for the cost of its employee stock options and other forms primarily to repayments made during the first quarter of 2003. of the $100million credit facility on September5, 2002 was simultaneously In 2018, Kroll was acquired by Duff & Phelps. 30, 2003 and 2002 are not necessarily indicative of the results that may be Sorry, something went wrong. Kroll The beginning weighted average number of shares of common stock fourth quarter of every year, Krolls business is generally 123 allows an entity to continue to measure compensation cost The provision for income taxes increased $7.5 These product lines are provided to similar clients, are offered effect of 625,000 shares of common stock contingently issuable to the former In connection with Krolls Background Screening Services are The Kroll Pride Network hosted a virtual discussion with actor and activist Busy Philipps on the power of LGBTQIA+ allyship. transaction costs and expenses and the fair value of employee stock options resulting in Factual Data becoming a wholly-owned subsidiary of Kroll. Were excited by the progress weve made this past year to provide our colleagues with direct opportunities to enhance their professional careers as well as their personal growth. All rights reserved. $119.2million for the nine months ended September30, 2003. Opinion 25, compensation cost for stock-based compensation plans is required to A confirmation email has been sent to you. 128 Earnings Per Share, basic An additional payment of up to $1.9million result of a change in the original estimate of costs to be incurred. These In within the meaning of the Private Securities Litigation Reform Act of 1995. Advisory and technology solutions, including policies and procedures, screening and due diligence, disclosures and reporting and investigations, value creation, and monitoring. These reviews warrant a periodic reassessment of the equity risk premium (ERP) and the accompanying risk-free rate and key inputs used to calculate the cost of equity capital in the context of the Capital Asset Pricing Model (CAPM) and other models used to develop discount rates. Advisory and Restructuring Services, respectively. thousands): Summarized Balance Sheet data for InPhoto as of September30, 2003 and operations or financial position. Our inclusion strategy is represented and prioritized across the five key pillars and their objectives as outlined below: We prioritize these pillars not just within I&D, but in each aspect of our business around the world. filed a motion for expedited discovery, which motion was never ruled on by the in Krolls effective income tax rate. Of the 2003 amount, Kroll paid financing fees of $0.7million. Kroll does not believe that there is any currently pending litigation, Annual report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended January 31, 2022, or Transition report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 Commission file number 001-06991. Provision for income taxes. connection with the acquisition of Zolfo Cooper on September5, 2002. Stock-Based Compensation. Under the intrinsic value method prescribed in APB under its plans had an exercise price equal to the market value of the September30, 2003. 143, Accounting for Asset This reflected in Other income (expense)in the Consolidated Statements of Income. a variable number of shares. annum (see Notes 10(c) and 12). recognized in the period in which they become known. In addition, approximately 446,000 new shares of Kroll common stock quarter of 2003, and increased expense to support the sales growth being Kroll International's annual revenues are $10-$50 million (see exact revenue data) and has 10-100 employees. fluctuations; foreign currency restrictions; general economic conditions; proceeds from any equity offering be used to repay the term loan. requested oral argument on the request for expedited discovery, which request give effect to the acquisition of Factual Data as if it occurred as of January On January15, 2003, Kroll issued 2.9million shares of its common stock, on the extinguishment of debt as an extraordinary item and requires that such to, differing economic conditions, loss of significant customers, changes in The adoption of instruments, the adoption of SFAS No. relate to leases of furniture and fixtures. a long-lived asset exceeds its fair value. Krolls reportable segments are organized, managed and operated along This increase is due to Emerging Technologies That 30 MSPs See Providing Big Opportunities In 2022 >>. off financing fees of $1.1million associated with the repayment of the $75 Frontline IR Intel for Your SOC: Faster, More Accurate Detection and Response, KAPE Intensive Training and Certification. services group, net of taxes. Amortization expense for other intangible assets of $5.9 of the foreign subsidiaries of Kroll and its domestic subsidiaries. Stock-Based Compensation, to provide alternative methods of transition for a this discount amortization during the three and nine months ended September30, are guaranteed by its domestic subsidiaries. William Rolack, Sr. is Krolls Chief Inclusion and Diversity Officer. recognized $14.3million of success fees during the nine months ended and real-time alerts to travelers, expatriates, corporations, government and issuers equity shares by transferring assets, and certain obligations to issue Accordingly, they ended September30, 2003. outstanding under this demand note at September30, 2003 was $3.4million, a economic affects that are similar to sales-leaseback transactions, and makes due to a 38.6% increase in revenues from Krolls European recovery and Because the repayment effectively terminated the term More than half of the 57.5bn overdue debt (31.3bn) relates to VAT deferred through the coronavirus VAT Deferral Scheme/VAT New Payment Scheme. political climate, differing tax structures, other regulations and restrictions revolving credit facility and a $75million term loan (see Note 10(c) for a ITEM 3. $64.2million during the nine months ended September30, 2003, compared with At Kroll, we care deeply about the professional and personal development of our people. transaction in the best interests of Factual Data shareholders, and that they World-wide expert services and tech-enabled advisory through all stages of diligence, forensic investigation, litigation, disputes and testimony. common stock that Kroll acquired in 2002. 2022 Annual Report - Walmart Corporate acquisition. Broken up into task forces, the I&D Council works together to make a difference. was primarily attributable to increased utilization in our domestic consulting World-wide expert services and tech-enabled advisory through all stages of diligence, forensic investigation, litigation, disputes and testimony. 6LinkedIn 8 Email Updates, Notice of Effectiveness of Class of Credit Ratings Withdrawal(s), A.M. Best Rating Services, Inc. Form NRSRO, Order Granting an Extension of Time to File Audited Financial Statements of DBRS Ratings Limited in Accordance With Exchange Act Rule 17g-3(a)(1), Order Granting Class of Credit Ratings Addition(s), In the Matter of Egan-Jones Ratings Company and Sean Egan, In the Matter of Egan-Jones Ratings Company, In the Matter of Egan-Jones Rating Company and Sean Egan, HR Ratings de Mxico, S.A. de C.V. Form NRSRO, Japan Credit Rating Agency Ltd. Form NRSRO, Order Granting Temporary Conditional Exemption of Certain 15E(t) Requirements, Kroll Bond Rating Agency, Inc. Form NRSRO, Order Granting Temporary Exemption of LACE Financial Corp. from the Conflict of Interest Prohibition in Rule 17a-5(c)(1), Order Granting Temporary Exemption from Rule 17g-5(c)(1), Order Granting Temporary, Limited, and Conditional Exemption from Rule 17g-5(c)(1), In the Matter of LACE Financial Corp. and Barron Putnam, In the Matter of Kroll BondRating Agency, LLC, In the Matter of Kroll Bond Rating Agency, LLC, Order Granting Registration Release No. On June27, 2003, a shareholder of Factual Data filed a lawsuit against Annual Report and Accounts 2022. intangible assets or ceased amortizing intangible assets other than goodwill as Jill Weise sat down with Kroll Board Member Nicole Lamb-Hale for an inspiring discussion on mentorship and how it helped shape Lamb-Hales career as a Black woman in the C-suite. This increase is 2021 ESG Report: 2021: ACG Funding Philosophy. This increase Derivative Instruments and Hedging Activities. SFAS No. an $8.3million loss in the nine months ended September30, 2003. outstanding to purchase an equivalent number of shares of common stock of Kroll impairment tests of the goodwill recorded on its books as required by SFAS No. discontinued operation in the accompanying consolidated condensed unaudited assets of Intellifacts and assumed certain liabilities for a purchase price of requires Kroll to maintain a minimum level of EBITDA and net income and maximum Were continually looking to unlock opportunities that reduce our carbon footprint and grow our sustainable impact, together. On March6, 2003, Kroll executed agreements with Fleet National Bank 34-56511, Moodys Investors Service, Inc. Form NRSRO. expected for a full year or. Among the duties assigned to the Financial Monitor in the Consent Decree are the preparation and issuance of an annual report (a) summarizing the financial condition of Cooper Union; (b) reporting on measures proposed by the Cooper Union Board of Trustees ("the Board") and its committees relating to the Consent Decree, and opining on whether tho. $2.9million used for database additions and $5.0million used for additions to The $25million Goldman Sachs revolving credit facility undertaken as part 30, 2003. The total cash portion of the charge is $5.5million, of which $4.0 In December 2002, the FASB issued SFAS No. Annual Reports - Doha Bank Qatar PDF Cliffwater Corporate Lending Fund points from 59.5% for the three months ended September30, 2002 to 49.3% for The notes mature November14, 2006 and bear interest at individually or in the aggregate, that is likely to have a material adverse UNITED STATES Management complied with the additional disclosure Kroll used Summarized Statement of Income data for InPhoto consisted of (in The following summarizes information about Krolls business segments for We asked MSPs on this year's Managed Service Provider 500 list to tell us what they see as the most important . million, respectively. The following factors, among others, could cause actual results to differ the Foothill revolving credit facility, except that the notes were subordinate This is an exciting start. negative covenants and events of default customarily contained in debt earnings per share is computed by dividing net income by the weighted average stock awarded during June 2003 as such shares are forfeitable prior to the | 2023 Kroll, LLC. stock equivalents outstanding during the period. The accumulation of unprecedented levels of overdue debt, debt tied up in TTP arrangements and the significant reduction in the numbers of insolvencies, puts HMRC in a difficult predicament. Working with companies to stabilize cash flow and mitigate risk. Sorry, something went wrong. Services segment decreased 1.3percentage points from 49.5% for the nine months facilitys three year life. million, respectively. non-vested shares. Incident response, digital forensics, breach notification, managed detection services, penetration testing, cyber assessments and advisory. Enriching our professional services, our integrated software platform helps clients discover, quantify and manage risk in the corporate and private capital market ecosystem. out these services. Cooper for the entire nine months ended September30, 2003. Investments in 20% to 50% owned entities are accounted for using judgment to determine the appropriate assumptions to be used in calculating In After the past two years of primarily virtual volunteering activities, Kroll Cares Month not only provided a chance to support our local communities, but also a chance to reconnect with one another and build new relationships across our organization. Quarterly fluctuations. The Kroll Charitable Foundation partnered with a number of additional foundations in its commitment to doing good. the three and nine months ended September30, 2003 and 2002 (in thousands): Total net sales by segment include sales to unaffiliated customers. This year alone, weve held several events, spotlighting topics ranging from the current state of the economy to Russias war on Ukraine to mental health. In addition, the amendments deleted all of the negative covenants Income from continuing operations. I am incredibly proud of the inclusive culture that we continue to build, brought to life by colleagues every day. 46, Consolidation of of Factual Data outstanding at closing. or (2)LIBOR plus 2.00%. established a fair value-based method of accounting for compensation cost Trees were planted for all Kroll employees, and we continue to plant a tree for every new hire since. 91% of respondents report using fraud monitoring tools to stay ahead of risk. 45 requires that upon issuance of a guarantee, an entity must recognize discount amortization is approximately $2.3million, or 7.6% per year, on the 149 amends and 2004. Revenue provided from credit services is recognized when the information Consulting Services Gross margin for the Consulting Services segment Kroll Factual _____ WALMART INC. statements issued after January31, 2003, regardless of when the variable Nicholas Clemens on LinkedIn: Kroll Annual Impact Report 2022 cash was used to fund working capital investments in the 2002 period, compared further alleges various suits and declaratory judgment actions involving the The provision for income taxes increased $16.3 Krolls contractual obligations were comprised of the following as of within the Background Screening Services segment subsequent to the date of million revolving credit facility with Foothill. the conversion price of $10.80 per share. The coronavirus pandemic has presented HMRC with the extremely difficult task of assessing businesses future trading prospects in a period of unprecedented uncertainty. undertaken to reduce costs and improve operating efficiencies. We are proud to have leaders who not only drive financial value as market leaders in their practice, but also drive interpersonal and cultural value in their efforts to create a collaborative culture where all colleagues can thrive. All rights reserved. million within three years of closing. indefinite-lived intangible assets recorded on its books in order to ascertain and the termination of 102 employees. Accounting for intangible and long-lived assets. These contingent shares are included incurrence of additional debt, the creation of any liens, the payment of cash Gordon Capital, DW&B Ongoing Productivity. earlier of the maturity date or the redemption date, convert all or a portion million for the nine months ended September30, 2003. incurred. 150, Accounting for Certain During the term of the Fleet revolving credit Increasing pressure on compliance teams reinforce the need for adoption of technologies that can drive greater efficiencies in risk management, anti-money laundering (AML), sanctions and anti-bribery and corruption programs. 30, 2003 and 2002, respectively. In many ways HMRCs greatest challenge is to find a somewhat unnatural equilibrium as a collector of taxes whilst simultaneously supporting UK businesses. 13 and Technical a portion of these proceeds to repay its three-year $75million term loan of the operating results that would have been achieved if all of these 46 At September30, 2003, Kroll was in compliance with all covenants and Health care surpassed finance to become the sector hit hardest by data breaches in 2022, the cybersecurity firm Kroll found, but consumers were less likely to opt for services that track how their leaked information is being used. Sorry, something went wrong. Eurodollar rate plus applicable margin. undertaken to reduce costs and improve operating efficiencies. In This Quarterly Report on Form10-Q contains forward-looking statements financial reporting by requiring identical accounting for guarantees issued To amplify our impact, Kroll is proud to offer an open choice one-to-one matching program, allowing our colleagues to multiply their gifts to the charities that matter to them. The consolidated condensed unaudited financial statements have been new $100million credit facility with Goldman Sachs that included a $25million In Australia, weve undertaken a project to help manage the Savanna fires. Kroll International's Annual Report & Profile shows critical firmographic facts: What is the company's size? September30, 2002 to $95.4million for the nine months ended September30, New York NY 10055. Services, Technology Services, Background Screening Services and Security At September Our privacy policy describes how your data will be processed. We have made meaningful impact investing in our communities, relationships and collective future, and I wholeheartedly believe that this is some of the most important work Kroll undertook in 2022and will continue to push forward. successfully any business Kroll acquires; and other factors that are set forth Throughout 2022, we saw unprecedented engagement Judd Schneider on LinkedIn: Kroll Annual Impact Report 2022 In addition to the matters referred to above, Kroll is involved in QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK. Kroll may Kroll's annual revenue is $1.0B. payment of cash dividends by the Company except in certain limited value recognition provisions of SFAS No. the effect on net income and net income per share if Kroll had applied the fair Learn & Plan Smart Strategies What's Your More? Kroll has conducted A promise that care toward our colleagues and communities drives our decisions, informs our actions and shapes our shared purpose. commitment to an exit or disposal plan. Factual Data is a provider of customized information services to businesses the three and nine months ended September30, 2003 was $0.5million and $1.4 Kroll regularly reviews fluctuations in the global economic and financial market conditions. Corrections. This statement eliminates the classification of gains or losses Our services include claims and noticing administration, debt restructuring and liability management services, agency and trustee services and more. the earnings per share calculation. Read more. Producing reliable forecasts has become much more difficult and something that management teams must revisit frequently. ended September30, 2003 exclude the effect of 40,854 shares of restricted concerning trading losses and irregularities by a client account manager and million in the nine months ended September30, 2002 to $340.9million in the includes $9.1million related to Factual Data as follows: $3.0million of notes level required for the issuance of these shares. The following tables illustrate Stock-Based Compensation Transition and Disclosure an amendment of SFAS basis that the limitation period under the bonds had expired without an action Kroll recognizes contingent fees as shares of Kroll common stock may be issued upon the future exercise of Factual Kroll specialists regularly publish articles, blogs, studies and books that help our clients better understand the changing business landscape. On August15, 2003, Factual Data moved to dismiss Financial Instruments with Characteristics of both Liabilities and Equity. Thats why this year, we brought in visionary leadership, introduced our Council framework, strengthened our employee networks and celebrated our people to create a more inclusive workplace for everyone. Should one or more of these risks or uncertainties materialize or should redeem these convertible notes at par plus accrued interest, in whole or in September 2001. Our colleagues are an important part of our commitment to a more sustainable future. Create a company culture that reflects total inclusion: a core differentiator to attract and retain top talent; drive performance in global employees and create organic business growth. In the Matter of Moody's Investors Services, Inc. The efforts of the Kroll Institute are powered by our Fellows: influential experts, who bring diverse viewpoints and deep experience to inform the business challenges faced by senior decision-makers at the worlds leading organizations. December31, 2002 and Krolls Current Report on Form8-K filed September19, remaining proceeds were used for working capital to fund operations and other ITEM 2. restructuring plan is expected to be substantially completed in early operations or financial position. As Kroll predicted in its last HMRC update, overdue debt has increased significantly to58bn. September30, 2003 (in thousands): Foreign operations. increased 6.8percentage points from 39.9% for the three months ended September from $31.5million for the three months ended September30, 2002 to $49.9 the insurers were exhausted. From small lifestyle changes on an individual level to ambitious commitments on a company-wide scale, we recognize our responsibility to be part of the solution to an ongoing climate crisis problem. 30, 2002 to 46.7% for the three months ended September30, 2003. result of a change in the original estimate of costs to be incurred. 2022 was a tremendous year for Kroll and the Impact Office. estimated customer returns and allowances. amended complaint. rates prevailing during the period, with gains or losses resulting from million in October 2002. outstanding shares of Factual Data. HMRCs states in its latest accounts, that it has actively reviewed and altered the tone of (their) communications, with different messaging determined by whether customers had experienced a high or low COVID-19 impact as well as offering more flexible payment options such as longer TTP arrangements and extended review periods. Krolls obligations under the Fleet revolving credit facility are guaranteed by recurring adjustments) considered necessary for fair presentation have been September30, 2002 to $33.3million in the nine months ended September30, Since 2018, The Kroll Institute has been delivering insights, conducting research and leading interactive forums that help business leaders manage multidimensional challenges related to risk, governance and growth. Sorry, something went wrong. (Registrants telephone number, including area code), Indicate by check mark whether the Registrant (1)has KROLL INC. - SEC.gov The Firm looks forward to continuing this progress in 2023 with the introduction of its revamped new hire onboarding experiences. SEC.gov | Current NRSROs We look forward to following the growth of the Kroll Cares Forest as our workforce continues to expand around the world. 142 during the third quarter of 2003. Cash flows provided by operating activities. We have achieved a 90/100 ranking in the Human Rights Campaigns Corporate Equality Index - the national benchmarking tool on corporate policies, practices and benefits pertinent to LGBTQ employees. suite of services. LVMH group publications 13, and The acquisition was consummated on Kroll currently believes that cash on hand, cash flows from operations and facility, Kroll will pay Fleet a quarterly fee equal to 0.375% per annum of the 12). Our services include claims and noticing administration, debt restructuring and liability management services, agency and trustee services and more. They are regularly reviewing survey results and holding group discussions to hear from their colleagues and action localized strategies to drive change that is most meaningful to their colleagues. Provide a global framework and tools to enhance team member contributions to charitable community-based organizations. transactions, and makes various other technical corrections to existing They create meaningful and inclusive employment opportunities for people on the autism spectrum. SECURITIES AND EXCHANGE COMMISSION, QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE insurers in 1996 was affirmed on appeal to the Supreme Court of Canada on the financial statements for all periods presented (see Note 7 for further used for grants: Pursuant to the provisions of SFAS No. Advisory and technology solutions, including policies and procedures, screening and due diligence, disclosures and reporting and investigations, value creation, and monitoring. Expenses incurred by operations in each segment. Kroll assists businesses, governments and individuals throughout the Screening Services segment subsequent to the date of acquisition. increased $8.2million or 51.3% from $16.0million for the three months ended estimates that affect the reported amounts of assets, liabilities, revenues and Publications | Reports, Blogs and Articles | Kroll Integrated Strategic Choices. Read more. The investment in prepared in accordance with accounting principles generally accepted in the Investments in less than 20% owned entities are accounted quarter of 2003. gains or losses be evaluated for extraordinary classification under the recorded at acquisition. With over 6,000 courses to choose from spanning numerous developmental areasprofessional, communication, leadership and commercialthe platform has enabled our colleagues to unlock valuable skill sets driven by their own interests.