Segment Information (Tables)

9 Months Ended

Sep. 30, 2022

Segment Information

Schedule of Summarized Segment Financial Information

Summarized financial information concerning our segments is shown in the tables below (in millions):

	Three months ended September 30, 2022
	Software		Data and		Corporate and
	Solutions		Analytics		Other			Total
Revenues	$	332.7	$	54.0	$	—		$	386.7
Expenses:
Operating expenses		153.0		37.1		30.8	(1)		220.9
Transition and integration costs		—		—		4.1	(2)		4.1
EBITDA		179.7		16.9		(34.9)			161.7
Depreciation and amortization		37.4		3.9		52.2	(3)		93.5
Operating income (loss)		142.3		13.0		(87.1)			68.2
Interest expense, net									(26.6)
Other expense, net									(5.4)
Earnings before income taxes and equity in earnings of unconsolidated affiliates									36.2
Income tax expense									6.5
Earnings before equity in earnings of unconsolidated affiliates									29.7
Equity in earnings of unconsolidated affiliates, net of tax									0.3
Net earnings								$	30.0

	Three months ended September 30, 2021
	Software		Data and		Corporate and
	Solutions		Analytics		Other			Total
Revenues	$	319.6	$	58.4	$	—		$	378.0
Expenses:
Operating expenses		137.1		37.5		28.4	(1)		203.0
Transition and integration costs		—		—		(1.3)	(2)		(1.3)
EBITDA		182.5		20.9		(27.1)			176.3
Depreciation and amortization		32.5		3.9		57.2	(3)		93.6
Operating income (loss)		150.0		17.0		(84.3)			82.7
Interest expense, net									(21.6)
Other expense, net									(1.1)
Earnings before income taxes and equity in earnings of unconsolidated affiliates									60.0
Income tax expense									15.3
Earnings before equity in earnings of unconsolidated affiliates									44.7
Equity in earnings of unconsolidated affiliates, net of tax									1.6
Net earnings									46.3
Net losses attributable to redeemable noncontrolling interests									7.1
Net earnings attributable to Black Knight								$	53.4

	Nine months ended September 30, 2022
	Software		Data and		Corporate and
	Solutions		Analytics		Other			Total
Revenues	$	1,002.8	$	165.6	$	—		$	1,168.4
Expenses:
Operating expenses		444.2		112.0		89.4	(1)		645.6
Transition and integration costs		—		—		19.9	(2)		19.9
EBITDA		558.6		53.6		(109.3)			502.9
Depreciation and amortization		108.4		11.7		157.4	(3)		277.5
Operating income (loss)		450.2		41.9		(266.7)			225.4
Interest expense, net									(70.3)
Other expense, net									(9.0)
Earnings before income taxes and equity in earnings of unconsolidated affiliates									146.1
Income tax expense									17.0
Earnings before equity in earnings of unconsolidated affiliates									129.1
Equity in earnings of unconsolidated affiliates, net of tax									303.3
Net earnings									432.4
Net losses attributable to redeemable noncontrolling interests									2.5
Net earnings attributable to Black Knight								$	434.9

	Nine months ended September 30, 2021
	Software		Data and		Corporate and
	Solutions		Analytics		Other			Total
Revenues	$	920.8	$	168.2	$	—		$	1,089.0
Expenses:
Operating expenses		392.6		106.8		86.8	(1)		586.2
Transition and integration costs		—		—		10.9	(2)		10.9
EBITDA		528.2		61.4		(97.7)			491.9
Depreciation and amortization		96.9		11.4		163.5	(3)		271.8
Operating income (loss)		431.3		50.0		(261.2)			220.1
Interest expense, net									(62.8)
Other expense, net									(5.3)
Earnings before income taxes and equity in earnings of unconsolidated affiliates									152.0
Income tax expense									31.0
Earnings before equity in earnings of unconsolidated affiliates									121.0
Equity in earnings of unconsolidated affiliates, net of tax									3.0
Net earnings									124.0
Net losses attributable to redeemable noncontrolling interests									23.2
Net earnings attributable to Black Knight								$	147.2

(1) Operating expenses for Corporate and Other includes equity-based compensation, including certain related payroll taxes, of $13.6 million and $9.8 million for the three months ended September 30, 2022 and 2021, respectively, and $37.8 million and $33.5 million for the nine months ended September 30, 2022 and 2021, respectively.

(2) Transition and integration costs primarily consists of costs related to the ICE Transaction and costs associated with acquisitions.

(3) Depreciation and amortization for Corporate and Other primarily represents net incremental depreciation and amortization adjustments associated with the application of purchase accounting recorded in accordance with GAAP.