XML 53 R22.htm IDEA: XBRL DOCUMENT v3.2.0.727
Segment Information
 6 Months Ended
Jun. 30, 2015
Segment Reporting [Abstract]  
Segment Information
Segment Information

We have organized our reportable segments into two segments: D&A and TPS. We also separately report on our corporate and eliminations group.

Data & Analytics. Our D&A segment owns or licenses data assets including loan information, property sales and characteristic information, property risk and replacement cost, information on mortgage-backed securities, criminal and eviction records and employment verification information. 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 $1.4 million and $1.3 million for the three months ended June 30, 2015 and 2014, respectively, and $2.6 million and $2.1 million for the six months ended June 30, 2015 and 2014, respectively. The segment also includes intercompany expenses of $1.3 million and $2.3 million for the three months ended June 30, 2015 and 2014, respectively, and $2.6 million and $3.0 million for the six months ended June 30, 2015 and 2014, 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 $1.2 million and $1.5 million for the three months ended June 30, 2015 and 2014, respectively, and $2.4 million and $3.1 million for the six months ended June 30, 2015 and 2014, respectively. The segment also includes intercompany expenses of $1.3 million and $1.4 million for the three months ended June 30, 2015 and 2014, respectively, and $2.4 million and $2.1 million for the six months ended June 30, 2015 and 2014, respectively.

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

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

Selected financial information by reportable segment is as follows:

(in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
For the Three Months Ended June 30, 2015
 
Operating Revenues
 
Depreciation and Amortization
 
Operating Income/(Loss)
 
Equity in Earnings/(Loss) of Affiliates, Net of Tax
 
Net Income/(Loss) From Continuing Operations
 
Capital Expenditures
D&A
 
$
174,584

 
$
25,823

 
$
24,878

 
$
(383
)
 
$
24,401

 
$
12,437

TPS
 
213,992

 
6,545

 
57,114

 
8,068

 
65,099

 
1,262

Corporate
 
9

 
4,904

 
(21,285
)
 
(3,018
)
 
(56,236
)
 
3,863

Eliminations
 
(2,572
)
 
—

 
—

 
—

 
—

 
—

Consolidated (excluding discontinued operations)
 
$
386,013

 
$
37,272

 
$
60,707

 
$
4,667

 
$
33,264

 
$
17,562

 
 
 
 
 
 
 
 
 
 
 
 
 
For the Three Months Ended June 30, 2014
 
 

 
 

 
 
 
 
 
 

 
 

D&A
 
$
170,770

 
$
25,812

 
$
28,141

 
$
(202
)
 
$
27,960

 
$
15,397

TPS
 
198,066

 
6,615

 
32,705

 
6,409

 
45,053

 
1,971

Corporate
 
(97
)
 
2,939

 
(19,826
)
 
(2,333
)
 
(46,044
)
 
4,849

Eliminations
 
(2,769
)
 
—

 
—

 
—

 
—

 
—

Consolidated (excluding discontinued operations)
 
$
365,970

 
$
35,366

 
$
41,020

 
$
3,874

 
$
26,969

 
$
22,217


 


 


 


 


 


 


For the Six Months Ended June 30, 2015
 
 

 
 

 


 


 
 

 
 

D&A
 
$
340,135

 
$
51,426

 
$
51,283

 
$
(905
)
 
$
50,244

 
$
29,371

TPS
 
415,612

 
13,317

 
101,287

 
14,731

 
115,860

 
2,699

Corporate
 
32

 
8,449

 
(42,598
)
 
(5,392
)
 
(103,342
)
 
8,133

Eliminations
 
(4,995
)
 
—

 
—

 
—

 
—

 
—

Consolidated (excluding discontinued operations)
 
$
750,784

 
$
73,192

 
$
109,972

 
$
8,434

 
$
62,762

 
$
40,203


 


 


 


 


 


 


For the Six Months Ended June 30, 2014
 
 

 
 

 


 


 
 

 
 

D&A
 
$
309,628

 
$
45,904

 
$
43,957

 
$
(215
)
 
$
43,741

 
$
27,647

TPS
 
387,564

 
13,094

 
57,906

 
10,387

 
74,098

 
4,832

Corporate
 
—

 
5,874

 
(46,019
)
 
(3,915
)
 
(93,783
)
 
10,350

Eliminations
 
(5,118
)
 
—

 
—

 
—

 
—

 
—

Consolidated (excluding discontinued operations)
 
$
692,074

 
$
64,872

 
$
55,844

 
$
6,257

 
$
24,056

 
$
42,829


(in thousands)
 
As of
 
As of
Assets
 
June 30, 2015
 
December 31, 2014
D&A
 
$
1,848,693

 
$
1,886,478

TPS
 
1,336,500

 
1,297,903

Corporate
 
5,103,449

 
5,102,328

Eliminations
 
(4,768,293
)
 
(4,774,614
)
Consolidated (excluding assets of discontinued operations)
 
$
3,520,349

 
$
3,512,095