Discontinued Operations

6 Months Ended

Jun. 30, 2011

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations [Text Block]

Discontinued Operations

Summarized below are the components of our income (loss) from discontinued operations for the three and six months ended June 30, 2010:

	For the Three Months Ended			For the Six Months Ended
(in thousands, except per share amounts)	June 30, 2010			June 30, 2010
Income from discontinued operations, net of tax - FAFC	$	24,709		$	43,520
Loss from discontinued operations, net of tax - Employer & Litigation	(774		)	(1,007		)
Total income from discontinued operations, net of tax	$	23,935		$	42,513
Earnings per share:
Basic	$	0.22		$	0.40
Diluted	$	0.22		$	0.40
Weighted-average common shares outstanding:
Basic	108,936			106,205
Diluted	109,716			107,046

FAFC

The businesses distributed as part of the Separation are presented within the condensed consolidated financial statements as discontinued operations. The net income from discontinued operations in the six months ended June 30, 2011 includes an allocation of the income tax expense or benefit originally allocated to income from continuing operations. The amount of tax allocated to discontinued operations is the difference between the tax originally allocated to continuing operations and the tax allocated to the restated amount of income from continuing operations in each period.

The following amounts have been segregated from continuing operations and are reflected as discontinued operations:

	For the Three Months Ended			For the Six Months Ended
(in thousands, except per share amounts)	June 30, 2010			June 30, 2010
Operating revenue	$	582,075		$	1,490,501
Income from discontinued operations before income taxes	$	39,397		$	76,323
Income tax expense	15,067			33,222
Income, net of tax	24,330			43,101
Less:  Net income attributable to noncontrolling interests	(379		)	(419		)
Income from discontinued operations, net of tax	$	24,709		$	43,520
Earnings per share:
Basic	$	0.23		$	0.41
Diluted	$	0.23		$	0.41
Weighted-average common shares outstanding:
Basic	108,936			106,205
Diluted	109,716			107,046

Employer and Litigation Services businesses

On December 22, 2010, the Company and STG-Fairway Holdings, LLC (the “Purchaser”), which is owned by affiliates of Symphony Technology Group, entered into a Purchase Agreement, pursuant to which we sold our employer and litigation services businesses to the purchaser. We also agreed to provide certain transition services to the Purchaser for up to one year following the closing. As a result of the sale, the businesses are reflected in our condensed consolidated financial statements as discontinued operations and the results of the businesses in the prior years have been reclassified to conform to the 2010 classification.

The following amounts have been segregated from continuing operations and are reflected as discontinued operations:

	For the Three Months Ended			For the Six Months Ended
(in thousands, except per share amounts)	June 30, 2010			June 30, 2010
Operating revenue	$	64,553		$	125,220
Loss from discontinued operations before income taxes	$	(3,574	)	$	(6,191	)
Income tax benefit	(2,800		)	(5,184		)
Loss, net of tax	(774		)	(1,007		)
Less:  Net income attributable to noncontrolling interests	—			—
Loss from discontinued operations, net of tax	$	(774	)	$	(1,007	)
Earnings per share:
Basic	$	(0.01	)	$	(0.01	)
Diluted	$	(0.01	)	$	(0.01	)
Weighted-average common shares outstanding:
Basic	108,936			106,205
Diluted	109,716			107,046

Cash flows from discontinued operations are presented separately on our Condensed Consolidated Statements of Cash Flows.