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Segment Information
 9 Months Ended
Sep. 30, 2016
Segment Reporting [Abstract]  
Segment Information
Segment Information

We have organized our reportable segments into two segments: PI and RMW.

Property Intelligence. Our PI segment owns or licenses real property information, mortgage information and consumer information, which includes loan information, property sales and characteristic information, property risk and replacement cost, natural hazard data, geospatial data, parcel maps and mortgage-backed securities information. We have also developed proprietary technology and software platforms to access, automate or track our data and assist our clients with compliance regulations. We deliver this information directly to our clients in a standard format over the web, through customizable software platforms or in bulk data form. Our products and services include data licensing and analytics, data-enabled advisory services, platform solutions and valuation solutions in North America, Western Europe and Asia Pacific. The segment's primary clients are commercial banks, mortgage lenders and brokers, investment banks, fixed-income investors, real estate agents, Multiple Listing Service companies, property and casualty insurance companies, title insurance companies, government agencies and government-sponsored enterprises.

The operating results of our PI segment included intercompany revenues of $1.5 million and $1.3 million for the three months ended September 30, 2016 and 2015, and $4.2 million and $4.3 million for the nine months ended September 30, 2016 and 2015, respectively. The segment also included intercompany expenses of $1.0 million and $1.2 million for the three months ended September 30, 2016 and 2015, and $3.9 million and $3.6 million for the nine months ended September 30, 2016 and 2015, respectively.

Risk Management and Workflow. Our RMW segment owns or licenses real property information, mortgage information and consumer information, which includes loan information, property sales and characteristic information, natural hazard data, parcel maps, employment verification, criminal records and eviction records. We have also developed proprietary technology and software platforms to access, automate or track our data and assist our clients with compliance regulations. Our products and services include credit and screening solutions, property tax processing, flood data services and technology solutions in North America. 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, fixed-income investors, government agencies and casualty insurance companies.

The operating results of our RMW segment included intercompany revenues of $1.0 million and $1.2 million for the three months ended September 30, 2016 and 2015, and $3.9 million and $3.6 million for the nine months ended September 30, 2016 and 2015, respectively. The segment also included intercompany expenses of $1.5 million and $1.3 million for the three months ended September 30, 2016 and 2015, and $4.2 million and $4.3 million for the nine months ended September 30, 2016 and 2015, respectively.

We also separately report on our corporate and eliminations. 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 September 30, 2016
 
Operating Revenues
 
Depreciation and Amortization
 
Operating Income/(Loss)
 
Equity in Earnings/(Losses) of Affiliates, Net of Tax
 
Net Income/(Loss) From Continuing Operations
 
Capital Expenditures
PI
 
$
280,620

 
$
33,280

 
$
28,018

 
$
872

 
$
28,325

 
$
12,517

RMW
 
245,764

 
6,304

 
76,749

 
—

 
76,749

 
2,658

Corporate
 
2

 
4,914

 
(19,943
)
 
(265
)
 
(69,072
)
 
1,408

Eliminations
 
(2,490
)
 
—

 
—

 
—

 
—

 
—

Consolidated (excluding discontinued operations)
 
$
523,896

 
$
44,498

 
$
84,824

 
$
607

 
$
36,002

 
$
16,583

 
 
 
 
 
 
 
 
 
 
 
 
 
For the Three Months Ended September 30, 2015
 
 

 
 

 
 
 
 
 
 

 
 

PI
 
$
156,944

 
$
23,052

 
$
19,552

 
$
5,763

 
$
25,213

 
$
10,303

RMW
 
232,050

 
9,525

 
64,104

 
—

 
64,100

 
3,355

Corporate
 
—

 
3,863

 
(17,736
)
 
(2,266
)
 
(60,671
)
 
3,854

Eliminations
 
(2,555
)
 
—

 
—

 
—

 
—

 
—

Consolidated (excluding discontinued operations)
 
$
386,439

 
$
36,440

 
$
65,920

 
$
3,497

 
$
28,642

 
$
17,512


 


 


 


 


 


 


For the Nine Months Ended September 30, 2016
 
 

 
 

 


 


 
 

 
 

PI
 
$
798,741

 
$
93,580

 
$
78,518

 
$
1,424

 
$
78,122

 
$
38,476

RMW
 
687,023

 
20,635

 
195,993

 
—

 
195,991

 
7,786

Corporate
 
5

 
13,218

 
(56,862
)
 
(829
)
 
(170,148
)
 
16,106

Eliminations
 
(8,125
)
 
—

 
—

 
—

 
—

 
—

Consolidated (excluding discontinued operations)
 
$
1,477,644

 
$
127,433

 
$
217,649

 
$
595

 
$
103,965

 
$
62,368


 


 


 


 


 


 


For the Nine Months Ended September 30, 2015
 
 

 
 

 


 


 
 

 
 

PI
 
$
471,442

 
$
71,609

 
$
56,229

 
$
19,589

 
$
75,450

 
$
35,541

RMW
 
673,672

 
25,769

 
179,996

 
—

 
179,967

 
10,187

Corporate
 
37

 
12,311

 
(60,332
)
 
(7,658
)
 
(164,011
)
 
11,987

Eliminations
 
(7,927
)
 
—

 
—

 
—

 
—

 
—

Consolidated (excluding discontinued operations)
 
$
1,137,224

 
$
109,689

 
$
175,893

 
$
11,931

 
$
91,406

 
$
57,715


(in thousands)
 
As of
 
As of
Assets
 
September 30, 2016
 
December 31, 2015
PI
 
$
2,504,317

 
$
2,058,412

RMW
 
1,339,912

 
1,316,785

Corporate
 
5,595,976

 
5,318,990

Eliminations
 
(5,429,311
)
 
(5,021,152
)
Consolidated (excluding assets of discontinued operations)
 
$
4,010,894

 
$
3,673,035