Supplemental Guarantor Information

Our 5% Notes are fully and unconditionally guaranteed on a senior unsecured basis, jointly and severally, by the following wholly owned subsidiaries of IHS Inc. (collectively, the Guarantor Subsidiaries):

•IHS Holding Inc.

•IHS Global Inc.

•R.L. Polk & Co.

•CARFAX, Inc.

The guarantees of our 5% Notes by the Guarantor Subsidiaries contain customary release provisions, which provide for the termination of such guarantees upon (i) the sale or other disposition (including by way of consolidation or merger) of the Guarantor Subsidiary or the sale or disposition of all or substantially all the assets of the Guarantor Subsidiary (in each case other than to the parent company (IHS Inc.) or another subsidiary of the parent company), (ii) the defeasance of the 5% Notes, (iii) at such time as the Guarantor Subsidiary ceases to be a guarantor of any significant indebtedness of the company, or (iv) if approved by the holders of the 5% Notes (except as provided in the indenture governing the 5% Notes).

The following supplemental tables present condensed consolidating financial information for the parent company, the Guarantor Subsidiaries on a combined basis, and the non-guarantor subsidiaries on a combined basis.

CONDENSED CONSOLIDATING BALANCE SHEET

AS OF MAY 31, 2016

(In thousands)



	IHS Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminating Entries			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	150	$	224,853	$	120,537		$	—		$	345,540
Accounts receivable, net	—		204,587		173,439			—			378,026
Income tax receivable	—		—		7,737			—			7,737
Deferred subscription costs	—		65,467		35,092			(38,078		)	62,481
Intercompany receivables	464,204		43,636		180,757			(688,597		)	—
Other	3,941		43,049		22,585			—			69,575
Total current assets	468,295		581,592		540,147			(726,675		)	863,359
Non-current assets:
Property and equipment, net	—		269,203		49,248			—			318,451
Intangible assets, net	—		736,387		584,034			—			1,320,421
Goodwill	—		2,440,621		1,640,462			—			4,081,083
Deferred income taxes	45,459		—		6,630			(45,459		)	6,630
Investment in subsidiaries	3,071,702		3,462,150		—			(6,533,852		)	—
Intercompany notes receivable	—		123,846		1,282,619			(1,406,465		)	—
Other	14,598		10,562		1,088			—			26,248
Total non-current assets	3,131,759		7,042,769		3,564,081			(7,985,776		)	5,752,833
Total assets	$	3,600,054	$	7,624,361	$	4,104,228		$	(8,712,451	)	$	6,616,192
Liabilities and stockholders’ equity
Current liabilities:
Short-term debt	$	41,250	$	432,546	$	—		$	—		$	473,796
Accounts payable	—		23,267		22,132			—			45,399
Accrued compensation	—		52,245		17,267			—			69,512
Accrued royalties	—		27,995		6,815			—			34,810
Other accrued expenses	4,139		77,260		49,872			—			131,271
Income tax payable	8,770		—		36,728			—			45,498
Deferred revenue	—		361,921		325,951			(38,078		)	649,794
Intercompany payables	—		620,461		68,136			(688,597		)	—
Total current liabilities	54,159		1,595,695		526,901			(726,675		)	1,450,080
Long-term debt	1,270,875		1,216,649		—			—			2,487,524
Accrued pension and postretirement liability	18,787		7,801		(686		)	—			25,902
Deferred income taxes	—		264,187		111,110			(45,459		)	329,838
Intercompany notes payable	—		1,282,619		123,846			(1,406,465		)	—
Other liabilities	291		49,592		17,023			—			66,906
Total stockholders’ equity	2,255,942		3,207,818		3,326,034			(6,533,852		)	2,255,942
Total liabilities and stockholders’ equity	$	3,600,054	$	7,624,361	$	4,104,228		$	(8,712,451	)	$	6,616,192

CONDENSED CONSOLIDATING BALANCE SHEET

AS OF NOVEMBER 30, 2015

(In thousands)



	IHS Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminating Entries			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	—	$	21,048	$	270,532	$	—		$	291,580
Accounts receivable, net	—		192,889		163,024		—			355,913
Income tax receivable	42,663		—		3,021		(41,099		)	4,585
Deferred subscription costs	—		52,210		30,082		(29,540		)	52,752
Intercompany receivables	465,915		38,381		179,798		(684,094		)	—
Assets held for sale	—		99,743		93,634		—			193,377
Other	1,681		38,220		17,234		—			57,135
Total current assets	510,259		442,491		757,325		(754,733		)	955,342
Non-current assets:
Property and equipment, net	—		267,422		46,944		—			314,366
Intangible assets, net	—		768,029		246,662		—			1,014,691
Goodwill	—		2,274,422		1,013,037		—			3,287,459
Deferred income taxes	58,471		—		6,630		(58,471		)	6,630
Investment in subsidiaries	2,416,961		3,045,096		—		(5,462,057		)	—
Intercompany notes receivable	—		—		724,778		(724,778		)	—
Other	10,181		11,130		1,282		—			22,593
Total non-current assets	2,485,613		6,366,099		2,039,333		(6,245,306		)	4,645,739
Total assets	$	2,995,872	$	6,808,590	$	2,796,658	$	(7,000,039	)	$	5,601,081
Liabilities and stockholders’ equity
Current liabilities:
Short-term debt	$	—	$	36,019	$	—	$	—		$	36,019
Accounts payable	5		39,689		19,486		—			59,180
Accrued compensation	—		69,889		35,588		—			105,477
Accrued royalties	—		25,985		7,321		—			33,306
Other accrued expenses	3,453		74,055		40,709		—			118,217
Income tax payable	—		64,077		362		(41,100		)	23,339
Deferred revenue	—		321,766		260,272		(29,540		)	552,498
Intercompany payables	22,721		549,783		122,855		(695,359		)	—
Liabilities held for sale	—		12,402		19,695		—			32,097
Total current liabilities	26,179		1,193,665		506,288		(765,999		)	960,133
Long-term debt	750,000		1,345,183		—		—			2,095,183
Accrued pension and postretirement liability	18,260		8,188		297		—			26,745
Deferred income taxes	—		259,764		46,965		(47,205		)	259,524
Intercompany notes payable	—		724,778		—		(724,778		)	—
Other liabilities	556		40,755		17,308		—			58,619
Total stockholders’ equity	2,200,877		3,236,257		2,225,800		(5,462,057		)	2,200,877
Total liabilities and stockholders’ equity	$	2,995,872	$	6,808,590	$	2,796,658	$	(7,000,039	)	$	5,601,081

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

FOR THE THREE MONTHS ENDED MAY 31, 2016

(In thousands)



	IHS Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminating Entries			Consolidated
Revenue	$	—		$	410,984		$	193,693		$	(16,708	)	$	587,969
Operating expenses:
Cost of revenue	—			204,047			24,948			(16,708		)	212,287
Selling, general and administrative	2,762			134,463			69,702			—			206,927
Depreciation and amortization	—			43,633			20,661			—			64,294
Restructuring charges	—			2,257			5,382			—			7,639
Acquisition-related costs	—			9,824			1,737			—			11,561
Net periodic pension and postretirement expense (income)	8			511			(113		)	—			406
Other expense (income), net	—			(1,872		)	1,517			—			(355		)
Total operating expenses	2,770			392,863			123,834			(16,708		)	502,759
Operating income (loss)	(2,770		)	18,121			69,859			—			85,210
Interest income	—			1,824			272			(1,815		)	281
Interest expense	(14,522		)	(14,536		)	6			1,815			(27,237		)
Non-operating income (expense), net	(14,522		)	(12,712		)	278			—			(26,956		)
Income (loss) from continuing operations before income taxes	(17,292		)	5,409			70,137			—			58,254
Benefit (provision) for income taxes	6,830			(2,137		)	(18,099		)	—			(13,406		)
Income (loss) from continuing operations	(10,462		)	3,272			52,038			—			44,848
Income from discontinued operations, net	—			4,170			1,084			—			5,254
Equity in net income of subsidiaries	60,564			53,122			—			(113,686		)	—
Net income	$	50,102		$	60,564		$	53,122		$	(113,686	)	$	50,102

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

FOR THE THREE MONTHS ENDED MAY 31, 2015

(In thousands)



	IHS Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminating Entries			Consolidated
Revenue	$	—		$	389,830		$	179,908		$	(12,798	)	$	556,940
Operating expenses:
Cost of revenue	—			184,301			43,355			(12,798		)	214,858
Selling, general and administrative	2,618			134,444			65,598			—			202,660
Depreciation and amortization	—			37,206			16,597			—			53,803
Restructuring charges	—			5,073			1,647			—			6,720
Acquisition-related costs	—			224			77			—			301
Net periodic pension and postretirement expense (income)	8			563			(74		)	—			497
Other expense (income), net	—			2,123			(191		)	—			1,932
Total operating expenses	2,626			363,934			127,009			(12,798		)	480,771
Operating income (loss)	(2,626		)	25,896			52,899			—			76,169
Interest income	6,442			41			178			(6,481		)	180
Interest expense	(9,811		)	(8,304		)	(5,820		)	6,481			(17,454		)
Non-operating expense, net	(3,369		)	(8,263		)	(5,642		)	—			(17,274		)
Income (loss) from continuing operations before income taxes	(5,995		)	17,633			47,257			—			58,895
Benefit (provision) for income taxes	2,368			(6,961		)	(7,629		)	—			(12,222		)
Income (loss) from continuing operations	(3,627		)	10,672			39,628			—			46,673
Income from discontinued operations, net	—			740			3,539			—			4,279
Equity in net income of subsidiaries	54,579			43,167			—			(97,746		)	—
Net income	$	50,952		$	54,579		$	43,167		$	(97,746	)	$	50,952

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

FOR THE SIX MONTHS ENDED MAY 31, 2016

(In thousands)



	IHS Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminating Entries			Consolidated
Revenue	$	—		$	814,797		$	354,500		$	(32,882	)	$	1,136,415
Operating expenses:
Cost of revenue	—			422,004			33,960			(32,882		)	423,082
Selling, general and administrative	5,847			252,412			135,183			—			393,442
Depreciation and amortization	—			86,672			38,137			—			124,809
Restructuring charges	—			5,957			7,385			—			13,342
Acquisition-related costs	—			10,480			4,863			—			15,343
Net periodic pension and postretirement expense (income)	16			1,021			(224		)	—			813
Other expense (income), net	—			(772		)	1,634			—			862
Total operating expenses	5,863			777,774			220,938			(32,882		)	971,693
Operating income (loss)	(5,863		)	37,023			133,562			—			164,722
Interest income	—			3,614			536			(3,605		)	545
Interest expense	(24,328		)	(33,708		)	(946		)	3,605			(55,377		)
Non-operating expense, net	(24,328		)	(30,094		)	(410		)	—			(54,832		)
Income (loss) from continuing operations before income taxes	(30,191		)	6,929			133,152			—			109,890
Benefit (provision) for income taxes	11,925			(2,737		)	(33,003		)	—			(23,815		)
Income (loss) from continuing operations	(18,266		)	4,192			100,149			—			86,075
Income from discontinued operations, net	—			6,021			3,050			—			9,071
Equity in net income of subsidiaries	113,412			103,199			—			(216,611		)	—
Net income	$	95,146		$	113,412		$	103,199		$	(216,611	)	$	95,146

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

FOR THE SIX MONTHS ENDED MAY 31, 2015

(In thousands)



	IHS Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminating Entries			Consolidated
Revenue	$	—		$	754,205		$	345,557		$	(28,946	)	$	1,070,816
Operating expenses:
Cost of revenue	—			389,039			55,110			(28,946		)	415,203
Selling, general and administrative	6,672			253,405			129,031			—			389,108
Depreciation and amortization	—			72,990			31,695			—			104,685
Restructuring charges	—			12,735			7,406			—			20,141
Acquisition-related costs	—			350			127			—			477
Net periodic pension and postretirement expense (income)	15			1,131			(153		)	—			993
Other expense, net	—			361			733			—			1,094
Total operating expenses	6,687			730,011			223,949			(28,946		)	931,701
Operating income (loss)	(6,687		)	24,194			121,608			—			139,115
Interest income	10,349			80			1,049			(11,138		)	340
Interest expense	(19,602		)	(15,986		)	(9,998		)	11,138			(34,448		)
Non-operating expense, net	(9,253		)	(15,906		)	(8,949		)	—			(34,108		)
Income (loss) from continuing operations before income taxes	(15,940		)	8,288			112,659			—			105,007
Benefit (provision) for income taxes	6,296			(3,274		)	(23,406		)	—			(20,384		)
Income (loss) from continuing operations	(9,644		)	5,014			89,253			—			84,623
Income from discontinued operations, net	—			1,417			4,432			—			5,849
Equity in net income of subsidiaries	100,116			93,685			—			(193,801		)	—
Net income	$	90,472		$	100,116		$	93,685		$	(193,801	)	$	90,472

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME

(In thousands)




	IHS Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminating Entries			Consolidated
Three months ended May 31, 2016
Comprehensive income	$	84,845	$	95,381	$	95,075	$	(190,456	)	$	84,845

Three months ended May 31, 2015
Comprehensive income (loss)	$	40,073	$	43,826	$	33,567	$	(77,393	)	$	40,073

Six months ended May 31, 2016
Comprehensive income	$	103,788	$	122,225	$	122,953	$	(245,178	)	$	103,788

Six months ended May 31, 2015
Comprehensive income	$	41,710	$	51,321	$	47,780	$	(99,101	)	$	41,710

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE SIX MONTHS ENDED MAY 31, 2016

(In thousands)



	IHS Inc.		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminating Entries			Consolidated
Net cash provided by operating activities	$	150	$	183,221		$	145,197		$	—		$	328,568
Investing activities:
Capital expenditures on property and equipment	—		(44,963		)	(7,697		)	—			(52,660		)
Acquisitions of businesses, net of cash acquired	—		(653,906		)	(459,534		)	—			(1,113,440		)
Proceeds from sale of assets	—		124,282			65,933			—			190,215
Change in other assets	—		4,272			—			—			4,272
Settlements of forward contracts	—		—			(4,148		)	—			(4,148		)
Advances provided to other subsidiaries	—		(190,749		)	(624,366		)	815,115			—
Investment in subsidiaries	—		(551,451		)	—			551,451			—
Net cash used in investing activities	—		(1,312,515		)	(1,029,812		)	1,366,566			(975,761		)
Financing activities:
Proceeds from borrowings	—		1,100,000			—			—			1,100,000
Repayment of borrowings	—		(269,882		)	—			—			(269,882		)
Payment of debt issuance costs	—		(15,430		)	—			—			(15,430		)
Excess tax benefit from stock-based compensation	—		60			—			—			60
Repurchases of common stock	—		(106,015		)	—			—			(106,015		)
Advances received from other subsidiaries	—		624,366			190,749			(815,115		)	—
Proceeds from issuance of intercompany equity	—		—			551,451			(551,451		)	—
Net cash provided by financing activities	—		1,333,099			742,200			(1,366,566		)	708,733
Foreign exchange impact on cash balance	—		—			(9,148		)	—			(9,148		)
Net increase (decrease) in cash and cash equivalents	150		203,805			(151,563		)	—			52,392
Cash and cash equivalents at the beginning of the period	—		21,048			272,100			—			293,148
Cash and cash equivalents at the end of the period	$	150	$	224,853		$	120,537		$	—		$	345,540

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE SIX MONTHS ENDED MAY 31, 2015

(In thousands)



	IHS Inc.		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminating Entries			Consolidated
Net cash provided by operating activities	$	—	$	186,247		$	148,037		$	—		$	334,284
Investing activities:
Capital expenditures on property and equipment	—		(60,793		)	(8,245		)	—			(69,038		)
Acquisitions of businesses, net of cash acquired	—		(324,393		)	(45,515		)	—			(369,908		)
Change in other assets	—		(339		)	—			—			(339		)
Settlements of forward contracts	—		—			2,419			—			2,419
Investment in subsidiaries	—		(100		)	—			100			—
Net cash used in investing activities	—		(385,625		)	(51,341		)	100			(436,866		)
Financing activities:
Proceeds from borrowings	—		440,000			—			—			440,000
Repayment of borrowings	—		(152,980		)	(283		)	—			(153,263		)
Excess tax benefit from stock-based compensation	—		5,193			—			—			5,193
Repurchases of common stock	—		(105,247		)	—			—			(105,247		)
Proceeds from issuance of intercompany equity	—		—			100			(100		)	—
Net cash provided by (used in) financing activities	—		186,966			(183		)	(100		)	186,683
Foreign exchange impact on cash balance	—		—			(11,378		)	—			(11,378		)
Net increase (decrease) in cash and cash equivalents	—		(12,412		)	85,135			—			72,723
Cash and cash equivalents at the beginning of the period	—		32,314			120,842			—			153,156
Cash and cash equivalents at the end of the period	$	—	$	19,902		$	205,977		$	—		$	225,879