Discontinued Operations

9 Months Ended

Sep. 30, 2011

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations [Text Block]

Discontinued Operations

As of September 30, 2011, we closed our marketing services business (LeadClick) and concluded we would actively pursue the sale of our consumer services (Consumer Credit Monitoring Services), transportation services (comprised of our American Driving Records and CompuNet Credit Services business units) and our wholly-owned appraisal management services businesses. As a result, each of these businesses is reflected in our condensed consolidated financial statements as discontinued operations and the results of these businesses in the prior years have been reclassified to conform to current periods.

Due to the closure of our marketing services business, we incurred total impairment charges of $139.5 million, of which $123.3 million was for goodwill, and $16.2 million was for intangibles. In addition, we incurred bad debt expense of $8.9 million for accounts receivable we deemed to be uncollectible. Finally, we incurred $1.8 million in expense to write-off various other assets and to accrue for expenses related to the closure of this business.

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 ("ELI") 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 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 nine months ended September 30, 2010 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.

Summarized below are the components of our income (loss) from discontinued operations for the three and nine months ended September 30, 2011 and 2010:

(in thousands)						Data and Analytics						Business Information
For the three months ended September 30, 2011	FAFC		ELI			Marketing			Consumer			Transportation		Appraisal			Total Discontinued Operations
Operating revenue	$	—	$	—		$	6,431		$	22,877		$	16,838	$	12,463		$	58,609
(Loss)/income from discontinued operations before income taxes	—		—			(152,675		)	(13,384		)	157		(3,066		)	(168,968		)
Income tax expense/(benefit)	—		—			(58,300		)	(5,318		)	58		(1,188		)	(64,748		)
(Loss)/income, net of tax	—		—			(94,375		)	(8,066		)	99		(1,878		)	(104,220		)
Less:  Net income attributable to noncontrolling interests	—		—			—			—			—		—			—
(Loss)/income from discontinued operations, net of tax	$	—	$	—		$	(94,375	)	$	(8,066	)	$	99	$	(1,878	)	$	(104,220	)
For the three months ended September 30, 2010
Operating revenue	$	—	$	64,383		$	12,873		$	22,255		$	17,119	$	37,527		$	154,157
(Loss)/income from discontinued operations before income taxes	—		(168,885		)	(1,380		)	3,493			411		2,777			(163,584		)
Income tax expense/(benefit)	—		(23,303		)	(552		)	1,397			164		1,111			(21,183		)
(Loss)/income, net of tax	—		(145,582		)	(828		)	2,096			247		1,666			(142,401		)
Less:  Net income attributable to noncontrolling interests	—		78			—			—			—		—			78
(Loss)/income from discontinued operations, net of tax	$	—	$	(145,660	)	$	(828	)	$	2,096		$	247	$	1,666		$	(142,479	)

							Data and Analytics						Business Information
For the nine months ended September 30, 2011	FAFC			ELI			Marketing			Consumer			Transportation		Appraisal			Total Discontinued Operations
Operating revenue	$	—		$	—		$	29,399		$	73,443		$	51,448	$	60,012		$	214,302
(Loss)/income from discontinued operations before income taxes	—			—			(166,342		)	(7,603		)	1,210		(7,741		)	(180,476		)
Income tax expense/(benefit)	—			—			(63,768		)	(3,004		)	479		(3,058		)	(69,351		)
(Loss)/income, net of tax	—			—			(102,574		)	(4,599		)	731		(4,683		)	(111,125		)
Less:  Net income attributable to noncontrolling interests	—			—			—			—			—		—			—
(Loss)/income from discontinued operations, net of tax	$	—		$	—		$	(102,574	)	$	(4,599	)	$	731	$	(4,683	)	$	(111,125	)
For the nine months ended September 30, 2010
Operating revenue	$	1,490,501		$	172,063		$	33,325		$	68,143		$	51,908	$	110,479		$	1,926,419
(Loss)/income from discontinued operations before income taxes	76,323			(170,642		)	(5,070		)	8,874			3,100		8,859			(78,556		)
Income tax benefit	33,222			(23,975		)	(2,029		)	3,549			1,240		3,544			15,551
Income/(loss), net of tax	43,101			(146,667		)	(3,041		)	5,325			1,860		5,315			(94,107		)
Less:  Net loss attributable to noncontrolling interests	(419		)	—			—			—			—		—			(419		)
Income/(loss) from discontinued operations, net of tax	$	43,520		$	(146,667	)	$	(3,041	)	$	5,325		$	1,860	$	5,315		$	(93,688	)

Summarized below are certain assets and liabilities classified as discontinued operation as of September 30, 2011 and December 31, 2010:

(in thousands)					Data Analytics				Business Information
As of September 30, 2011	FAFC		ELI		Marketing		Consumer		Transportation		Appraisal		Total Discontinued Operations
Current assets	$	—	$	—	$	7,347	$	15,144	$	12,225	$	2,025	$	36,741
Property and equipment,net	—		—		—		974		2,095		1,053		4,122
Goodwill and other identifiable intangible assets, net	—		—		—		4,709		7,551		22,252		34,512
Other assets	—		—		—		331		213		192		736
Total assets	$	—	$	—	$	7,347	$	21,158	$	22,084	$	25,522	$	76,111
Total liabilities	$	—	$	—	$	14,046	$	12,232	$	7,654	$	8,573	$	42,505
As of December 30, 2010
Current assets	$	—	$	—	$	23,393	$	17,674	$	19,594	$	8,911	$	69,572
Property and equipment,net	—		—		980		9,275		2,085		1,683		14,023
Goodwill and other identifiable intangible assets, net	—		—		142,792		4,996		7,825		22,330		177,943
Other assets	—		—		—		331		213		193		737
Total assets	$	—	$	—	$	167,165	$	32,276	$	29,717	$	33,117	$	262,275
Total liabilities	$	—	$	—	$	11,440	$	9,386	$	7,332	$	12,004	$	40,162