Segment Financial Information

12 Months Ended

Dec. 31, 2014

Segment Reporting [Abstract]

Segment Financial Information

Segment Financial Information

We have organized our reportable segments into the following two segments: D&A and TPS. In September 2014, we concluded that we would cease pursuing the sale of the remaining AMPS related product lines. As a result, our technology solutions, solutions express and outsourcing services product lines are now reported within our TPS segment. Also, in September 2014, we transferred our under-banked credit services business from our D&A segment to our TPS segment. All segment reporting disclosures presented herein reflect these transfers. See Note 1 - Description of the Company for further discussion.

Data & Analytics. Our D&A segment owns or licenses data assets including loan information, criminal and eviction records, employment verification, property sales and characteristic information, property risk and replacement cost, and information on mortgage-backed securities. We both license our data directly to our clients and provide our clients with analytical products and workflow solutions for risk management, multiple listing services ("MLS"), 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 our data assets. Our primary clients are commercial banks, mortgage lenders and brokers, investment banks, fixed-income investors, real estate agents, MLS companies property and casualty insurance companies, title insurance companies and government agencies and sponsored enterprises.

Our D&A segment includes intercompany revenues of $4.3 million, $8.5 million, and $10.1 million for the years ended December 31, 2014, 2013 and 2012, respectively; and intercompany expenses of $5.6 million, $0.9 million and $1.8 million for the years ended December 31, 2014, 2013 and 2012, 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, mortgage-related business process outsourcing, technology solutions and compliance-related services. The segment’s primary clients are large, national mortgage lenders and servicers, but we also serve regional mortgage lenders and brokers, credit unions, commercial banks, government agencies and casualty insurance companies.

Our TPS segment includes intercompany revenues of $5.5 million, $3.3 million, and $1.2 million for the years ended December 31, 2014, 2013 and 2012, respectively; and intercompany expenses of $4.3 million, $7.8 million and $9.4 million for the years ended December 31, 2014, 2013 and 2012, 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.

Due to the number of clients we service and the number of products and services we offer, it is impracticable to disclose revenues from external clients for each product and service offered.

Selected segment financial information is as follows:

(in thousands)
For the Year Ended December 31, 2014	D&A		TPS		Corporate			Eliminations			Consolidated (Excluding Discontinued Operations)
Operating revenue	$	647,264	$	767,567	$	30		$	(9,821	)	$	1,405,040
Depreciation and amortization	$	98,313	$	26,019	$	14,062		$	—		$	138,394
Operating income/(loss)	$	97,654	$	139,168	$	(67,064	)	$	—		$	169,758
Equity in earnings/(loss) of affiliates, net of tax	$	49	$	22,900	$	(8,829	)	$	—		$	14,120
Net income/(loss) from continuing operations	$	98,975	$	167,726	$	(163,728	)	$	(11,965	)	$	91,008
Capital expenditures	$	56,383	$	8,336	$	22,435		$	—		$	87,154
For the Year Ended December 31, 2013
Operating revenue	$	572,169	$	843,887	$	631		$	(12,286	)	$	1,404,401
Depreciation and amortization	$	74,186	$	30,780	$	21,366		$	—		$	126,332
Operating income/(loss)	$	100,963	$	137,225	$	(96,046	)	$	—		$	142,142
Equity in earnings/(loss) of affiliates, net of tax	$	1,631	$	41,638	$	(15,908	)	$	—		$	27,361
Net income/(loss) from continuing operations	$	110,143	$	179,622	$	(189,505	)	$	—		$	100,260
Capital expenditures	$	54,085	$	20,048	$	32,453		$	—		$	106,586
For the Year Ended December 31, 2012
Operating revenue	$	544,753	$	800,890	$	640		$	(12,804	)	$	1,333,479
Depreciation and amortization	$	69,567	$	24,161	$	23,515		$	(135	)	$	117,108
Operating income/(loss)	$	96,519	$	189,700	$	(115,952	)	$	135		$	170,402
Equity in earnings/(loss) of affiliates, net of tax	$	2,197	$	55,570	$	(21,784	)	$	—		$	35,983
Net income/(loss) from continuing operations	$	99,188	$	245,686	$	(249,589	)	$	135		$	95,420
Capital expenditures	$	54,147	$	18,738	$	10,849		$	—		$	83,734

(in thousands)
As of December 31, 2014	D&A		TPS		Corporate		Eliminations			Consolidated (Excluding Discontinued Operations)
Investment in affiliates, net	$	27,809	$	68,547	$	7,242	$	—		$	103,598
Long-lived assets	$	1,739,715	$	1,161,873	$	4,888,730	$	(4,774,581	)	$	3,015,737
Total assets	$	1,886,478	$	1,297,903	$	5,102,328	$	(4,774,614	)	$	3,512,095
As of December 31, 2013
Investment in affiliates, net	$	9,460	$	78,290	$	7,593	$	—		$	95,343
Long-lived assets	$	1,176,994	$	1,130,237	$	4,232,718	$	(4,098,235	)	$	2,441,714
Total assets	$	1,306,023	$	1,257,195	$	4,499,268	$	(4,098,281	)	$	2,964,205

Operating revenue is attributed to countries based on location of the revenue-generating business. Operating revenue separated between domestic and foreign operations and by segment is as follows:

	Year Ended December 31,
(in thousands)	2014					2013					2012
	Domestic			Foreign		Domestic			Foreign		Domestic			Foreign
D&A	$	509,521		$	137,743	$	476,048		$	96,121	$	460,401		$	84,352
TPS	764,251			3,316		838,721			5,166		794,584			6,306
Corporate	—			30		—			631		—			640
Eliminations	(9,821		)	—		(12,286		)	—		(12,804		)	—
Consolidated	$	1,263,951		$	141,089	$	1,302,483		$	101,918	$	1,242,181		$	91,298

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

	As of December 31,
(in thousands)	2014						2013
	Domestic			Foreign			Domestic			Foreign
D&A	$	1,429,305		$	310,410		$	856,111		$	320,883
TPS	1,161,853			20			1,130,234			3
Corporate	4,142,791			745,939			3,486,778			745,940
Eliminations	(4,028,642		)	(745,939		)	(3,352,295		)	(745,940		)
Consolidated (excluding assets for discontinued operations)	$	2,705,307		$	310,430		$	2,120,828		$	320,886