Segment Information

3 Months Ended

Mar. 31, 2020

Summarized financial information concerning our reportable segments is shown in the following tables.

As of and for the three months ended March 31, 2020:


	Title		Corporate and Other		Total
	(In millions)
Title premiums	$	1,278	$	—	$	1,278
Other revenues	610		(9)		601
Revenues from external customers	1,888		(9)		1,879
Interest and investment income, including realized gains and losses	(265)		(2)		(267)
Total revenues	1,623		(11)		1,612
Depreciation and amortization	37		6		43
Interest expense	—		12		12
Loss before income taxes and equity in earnings of unconsolidated affiliates	(53)		(33)		(86)
Income tax benefit	(19)		(9)		(28)
Loss before equity in earnings of unconsolidated affiliates	(34)		(24)		(58)
Equity in earnings of unconsolidated affiliates	1		—		1
Net loss	$	(33)	$	(24)	$	(57)
Assets	$	8,728	$	1,476	$	10,204
Goodwill	2,460		266		2,726

As of and for the three months ended March 31, 2019:


	Title		Corporate and Other		Total
	(In millions)
Title premiums	$	992	$	—	$	992
Other revenues	481		53		534
Revenues from external customers	1,473		53		1,526
Interest and investment income, including realized gains and losses	190		6		196
Total revenues	1,663		59		1,722
Depreciation and amortization	39		5		44
Interest expense	—		12		12
Earnings (loss) before income taxes and equity in earnings of unconsolidated affiliates	292		(28)		264
Income tax expense (benefit)	71		(6)		65
Earnings (loss) before equity in earnings of unconsolidated affiliates	221		(22)		199
Equity in earnings of unconsolidated affiliates	7		—		7
Net earnings (loss)	$	228	$	(22)	$	206
Assets	$	8,567	$	1,080	$	9,647
Goodwill	2,463		264		2,727

The activities in our segments include the following:

•Title. This segment consists of the operations of our title insurance underwriters and related businesses. This segment provides core title insurance and escrow and other title-related services including trust activities, trustee sales guarantees, and home warranty products. This segment also includes our transaction services business, which includes other title-related services used in the production and management of mortgage loans, including mortgage loans that experience default.

•Corporate and Other. This segment consists of the operations of the parent holding company, our real estate technology subsidiaries and our remaining real estate brokerage businesses. This segment also includes certain other unallocated corporate overhead expenses and eliminations of revenues and expenses between it and our Title segment.