Segment Information

6 Months Ended

Jun. 30, 2014

Segment Reporting [Abstract]

Segment Information

Segment Information

We have organized our reportable segments into the following two segments: D&A and TPS.

Data & Analytics. Our D&A segment owns or licenses data assets including loan information, criminal and eviction records, employment verification, property characteristic information, property risk and replacement cost, 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, insurance underwriting, collateral assessment, loan quality reviews and fraud assessment. We are also a provider of geospatial proprietary software and databases combining geographic mapping and data. 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 D&A segment includes intercompany revenues of $1.1 million and $2.6 million for the three months ended June 30, 2014 and 2013, respectively, and $1.9 million and $6.0 million for the six months ended June 30, 2014 and 2013, respectively. The segment also includes intercompany expenses of $1.6 million and $1.0 million for the three months ended June 30, 2014 and 2013, respectively, and $1.4 million and $2.5 million for the six months ended June 30, 2014 and 2013, respectively.

Technology and Processing Solutions. Our TPS segment provides property tax monitoring, flood zone certification and monitoring, credit services, mortgage loan administration and production services, lending solutions and mortgage-related business process outsourcing. 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, and government agencies.

Our TPS segment includes intercompany revenues of $0.8 million and $0.8 million for the three months ended June 30, 2014 and 2013, respectively, and $1.4 million and $1.5 million for the six months ended June 30, 2014 and 2013, respectively. The segment also includes intercompany expenses of $1.2 million and $2.3 million for the three months ended June 30, 2014 and 2013, respectively, and $1.9 million and $5.7 million for the six months ended June 30, 2014 and 2013, respectively.

Corporate consists primarily of investment gains and losses, corporate personnel and other expenses associated with our corporate functions and facilities, equity in earnings of affiliates, net of tax, and interest expense.

It is impracticable to disclose revenues from external customers for each product and service offered.

Selected financial information by reportable segment is as follows:

(in thousands)
For the Three Months Ended June 30, 2014	Operating Revenues			Depreciation and Amortization		Operating Income/(Loss)			Equity in (Loss)/Earnings of Affiliates, Net of Tax			Net Income/(Loss) From Continuing Operations			Capital Expenditures
D&A	$	174,066		$	26,329	$	28,849		$	(202	)	$	28,668		$	15,427
TPS	177,263			6,065		33,632			6,409			45,980			1,776
Corporate	(61		)	2,939		(20,378		)	(2,333		)	(49,264		)	5,014
Eliminations	(1,847		)	—		—			—			—			—
Consolidated (excluding discontinued operations)	$	349,421		$	35,333	$	42,103		$	3,874		$	25,384		$	22,217
For the Three Months Ended June 30, 2013
D&A	$	153,045		$	19,141	$	29,880		$	546		$	30,559		$	13,799
TPS	198,509			7,280		50,610			14,415			64,889			3,570
Corporate	179			7,733		(32,979		)	(5,614		)	(63,479		)	8,430
Eliminations	(3,532		)	—		—			—			—			—
Consolidated (excluding discontinued operations)	$	348,201		$	34,154	$	47,511		$	9,347		$	31,969		$	25,799
For the Six Months Ended June 30, 2014
Data and analytics	$	316,599		$	46,866	$	45,521		$	(215	)	$	45,305		$	28,049
TPS	346,569			12,033		57,359			10,387			73,551			4,430
Corporate	—			5,873		(47,126		)	(3,915		)	(97,081		)	10,350
Eliminations	(3,330		)	—		—			—			—			—
Consolidated (excluding discontinued operations)	$	659,838		$	64,772	$	55,754		$	6,257		$	21,775		$	42,829
For the Six Months Ended June 30, 2013
Data and analytics	$	298,560		$	38,659	$	55,135		$	1,183		$	56,608		$	26,959
TPS	388,409			13,983		100,466			27,862			128,061			7,818
Corporate	346			15,653		(60,751		)	(10,913		)	(121,109		)	18,561
Eliminations	(7,814		)	—		—			—			—			—
Consolidated (excluding discontinued operations)	$	679,501		$	68,295	$	94,850		$	18,132		$	63,560		$	53,338

(in thousands)	As of			As of
Assets	June 30, 2014			December 31, 2013
D&A	$	2,010,314		$	1,325,253
TPS	1,156,582			1,139,420
Corporate	5,149,308			4,498,940
Eliminations	(4,749,682		)	(4,098,281		)
Consolidated (excluding discontinued operations)	$	3,566,522		$	2,865,332