Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from Drew McReynolds - RBC Capital Markets.
Drew McReynolds - RBC Capital Markets
Just with respect to the expansion in markets year-over-year between looking at Q1 you had EBITDA margin expansion by 200 basis points, and this quarter 400 basis points. Just wondering if you could kind of break that down maybe, didn’t see it in the presentation, what the FX contribution was and if there was anything else we should kind of take into account there.
Tom Glocer
Bob, do you want to hit the FX as a percentage? I mean I would make the general point, equally true for both quarters in Markets that, you know, like anyone else because of the difficulty in the environment Devin Wenig really rode costs management tightly, concentrated investments primarily in Project Utah the common platform and in customer service. But really was tough on the other costs. So when in fact the revenues as you’ve seen have held up better than others might expect, that’s flown down to the bottom line in margin expansion and additional operating profit. Bob?
Bob Daleo
Yes, Drew, the foreign exchange impact actually for the quarter and the year is about 100 basis points in each period.
Drew McReynolds - RBC Capital Markets
Just maybe for Bob, the corporate other costs excluding integration obviously a little higher. There’s some IFRS impact in there. How are we supposed to, I guess, model this going forward? I think you were run rating on a quarterly basis of about $60 million in core corporate costs. You know is this just going to be a volatile line segment going forward? And if not, maybe just a little bit of guidance on how we should be modeling this.
Bob Daleo
I think you would take the core corporate costs, and I would model them at around $250 million and you would be fine.
Drew McReynolds - RBC Capital Markets
With respect to the Legal division you alluded to pretty soft print in the quarter, and I know print has a measurably higher contribution in the back half of the year. Just wondering, you know, if that print is still in line with what you would have expected at this point in the cycle, or you know should we see some I guess more difficult revenue and margin pressure particularly in Q4?
Tom Glocer
I’ll take this one, Drew. You know I think it’s generally in line. The experience the last time there was a significant recession in Legal was, you know, quite bearish, but at that point print constituted a much larger percentage of overall legal revenue. Now that it’s, you know, really quite contained and that transfer of revenue from print to electronic continues, we’re sensitive to it but you know the absolute amounts aren’t so great that, you know, we don’t expect that to have a particularly dramatic effect in the second half of the year.
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