Segment Financial Information

12 Months Ended

Dec. 31, 2011

Segment Reporting [Abstract]

Segment Financial Information

Segment Financial Information.

Following the closure of LeadClick and the active pursuance of sale of consumer services, transportation services and our wholly-owned appraisal management services businesses, during the quarter ended December 31, 2011, we reorganized our management structure, changed our internal reporting and revised our reportable segments into three reportable segments consisting of data and analytics, mortgage origination services and default services.

Data and Analytics: Our data and analytics segment owns or licenses data assets including loan information, criminal and eviction records, employment verification, property characteristic information and information on mortgage-backed securities. We both license our data directly to our customers and provide our customers with analytical products for risk management, collateral assessment, loan quality reviews and fraud assessment. Our primary customers are commercial banks, mortgage lenders and brokers, investment banks, fixed-income investors, real estate agents, property and casualty insurance companies, title insurance companies and government-sponsored enterprises.

Our data and analytics segment includes intercompany revenues of $13.1 million, $14.0 million, and $20.6 million for the years ended December 31, 2011, 2010 and 2009, respectively; and intercompany expenses of $11.2 million, $10.8 million, $9.2 million for the years ended December 31, 2011, 2010 and 2009, respectively.

Mortgage Origination Services: Our mortgage origination services segment provides tax monitoring, flood zone certification and monitoring, credit services, mortgage loan administration and production services, lending solutions and mortgage-related business process outsourcing. We are also a provider of geospatial proprietary software and databases combining geographic mapping and data. The segment’s primary customers are large, national mortgage lenders and servicers, but we also serve regional mortgage lenders and brokers, credit unions, commercial banks, government agencies and property and casualty insurance companies.

Our mortgage origination services segment includes intercompany revenues of $6.6 million, $3.0 million, and $3.3 million for the years ended December 31, 2011, 2010 and 2009, respectively; and intercompany expenses of $28.1 million, $31.1 million, $19.0 million for the years ended December 31, 2011, 2010 and 2009, respectively.

Default Services: Our default services segment provides mortgage default management services, loss mitigation services, claims management, property valuation and management services. The segment’s primary customers are large, national mortgage lenders and servicers, but we also serve regional mortgage lenders and brokers, credit unions, commercial banks, government agencies and property and casualty insurance companies.

Our default services segment includes intercompany revenues of $0.9 million, $2.3 million, and $3.5 million for the years ended December 31, 2011, 2010 and 2009, respectively; and intercompany expenses of $14.8 million, $16.0 million, $17.8 million for the years ended December 31, 2011, 2010 and 2009, respectively.

Corporate and eliminations consists primarily of investment gains and losses, corporate personnel and other operating expenses associated with our corporate facilities, certain technology initiatives, equity in earnings of affiliates, net of tax, unallocated interest expense, our marketing services group (which focuses on lead generation) and elimination of inter-company revenues included in the results of the reportable segments.

Selected financial information segment is as follows:

(in thousands)
For the year ended December 31, 2011	Data and Analytics		Mortgage Origination Services		Default Services			Corporate and Eliminations			Consolidated (excluding discontinued operations)
Operating revenue	$	525,350	$	504,872	$	329,273		$	(20,948	)	$	1,338,547
Depreciation and amortization	65,957		23,782		7,484			18,323			115,546
Income/(loss) from continuing operations	69,713		77,567		45,086			(103,681		)	88,685
Equity in earnings of affiliates, net of tax	1,512		47,673		(245		)	(18,670		)	30,270
Net income/(loss) from continuing operations	70,039		126,616		44,310			(187,470		)	53,495
Capital expenditures	16,808		12,242		4,062			$	12,103		45,215
For the year ended December 31, 2010
Operating revenue	$	444,690	$	484,940	$	368,536		$	(17,890	)	$	1,280,276
Depreciation and amortization	47,459		19,108		5,446			22,868			94,881
Income/(loss) from continuing operations	85,073		85,960		77,206			(134,556		)	113,683
Equity in earnings of affiliates, net of tax	4,606		64,588		755			(28,308		)	41,641
Net income/(loss) from continuing operations	89,658		150,855		81,311			$	(237,933	)	83,891
Capital expenditures	9,378		8,698		2,658			31,876			52,610
For the year ended December 31, 2009
Operating revenue	$	436,458	$	518,882	$	360,638		14,184			$	1,330,162
Depreciation and amortization	47,919		21,390		6,313			38,752			114,374
Income/(loss) from continuing operations	105,812		101,027		60,905			(159,092		)	108,652
Equity in earnings of affiliates, net of tax	638		77,075		586			(29,452		)	48,847
Net Income/(loss) from continuing operations	107,233		178,245		61,478			(243,337		)	103,619
Capital expenditures	11,593		11,003		984			8,307			31,887

(in thousands)
As of December 31, 2011	Data and Analytics		Mortgage Origination Services		Default Services		Corporate and Eliminations		Consolidated (excluding discontinued operations)
Investment in affiliates, net	$	24,398	$	79,538	$	—	$	9,873	$	113,809
Long-lived assets	1,141,749		929,116		177,122		206,105		2,454,092
Total assets	1,248,436		1,039,069		226,034		541,016		3,054,555
As of December 31, 2010
Investment in affiliates, net	$	73,108	$	66,019	$	—	$	26,582	$	165,709
Long-lived assets	877,715		862,004		181,441		261,364		2,182,524
Total assets	972,562		994,124		230,142		767,704		2,964,532

Operating revenues separated between domestic and foreign operations and by segment is as follows:

	Year ending December 31,
(in thousands)	2011					2010					2009
	Domestic			Foreign		Domestic			Foreign		Domestic			Foreign
Data and Analytics	$	468,022		$	57,328	$	438,359		$	6,331	$	431,214		$	5,244
Mortgage Origination Services	504,633			239		484,888			52		518,882			—
Default Services	329,273			—		368,536			—		360,638			—
Corporate and Eliminations	(62,254		)	41,306		(71,118		)	53,228		(47,412		)	61,596
Consolidated	$	1,239,674		$	98,873	$	1,220,665		$	59,611	$	1,263,322		$	66,840

Long-lived assets separated between domestic and foreign operations and by segment is as follows:

	As of December 31,
(in thousands)	2011					2010
	Domestic			Foreign		Domestic		Foreign
Data and Analytics	787,901			353,848		867,088		10,627
Mortgage Origination Services	929,075			41		861,901		103
Default Services	177,122			—		181,441		—
Corporate and Eliminations	(292,381		)	498,486		257,719		3,645
Consolidated (excluding assets for discontinued operations)	$	1,601,717		$	852,375	$	2,168,149	$	14,375