On March 24, 2025, D&B announced the D&B Sale. As a result of the transaction, D&B is presented as a discontinued operation in our Consolidated Financial Statements for the year ended December 31, 2025. Through the date of the D&B Disposition, we continued to exert significant influence over D&B and therefore we continued to account for this investment under the equity method of accounting. As a result of the reclassification of our investment in Dun & Bradstreet as held for sale and a discontinued operation, we marked our investment in D&B to the fair market value implied by the stock price beginning as of March 31, 2025 and recorded an impairment of $68.1 million in the three months ended March 31, 2025, which is included in Net losses from discontinued operations, net of tax on our Condensed Consolidated Statement of Operations.

On August 26, 2025, the D&B Sale closed and Cannae completed the disposition of its ownership interests in D&B for aggregate proceeds of $540.3 million in cash in exchange for our remaining 59,048,691 shares of common stock (the "D&B Disposition"). Following the consummation of the D&B Disposition, Cannae no longer has any ownership interest in the common stock of D&B.

A reconciliation of the operations of D&B to the Condensed Consolidated Statement of Operations is presented below for the three months ended March 31, 2025 (in millions):





Other income (expense):
Recognized (losses) gains	$	(71.7)
Equity in losses of unconsolidated affiliates	(4.6)
Loss from discontinued operations before income taxes	(76.3)
Income tax expense (benefit)	—
Net loss from discontinued operations, net of tax	$	(76.3)

Summarized statement of operations information for D&B for the relevant dates and time periods included in Net losses from discontinued operations, net of tax in our Statements of Operations is presented below for the three months ended March 31, 2025 (in millions):





Total revenues	$	579.8
Operating income	35.3
Earnings (loss) before income taxes	(14.8)
Net earnings (loss)	(14.8)
Net income (loss) attributable to noncontrolling interest	1.0
Net income (loss) attributable to Dun & Bradstreet	(15.8)