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Segment Information
 3 Months Ended
Mar. 31, 2017
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 $1.0 million and $1.2 million for the three months ended March 31, 2017 and 2016, respectively. The segment also included intercompany expenses of $0.7 million and $1.7 million for the three months ended March 31, 2017 and 2016, respectively.

Risk Management and Work Flow. 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 $0.7 million and $1.7 million for the three months ended March 31, 2017 and 2016, respectively. The segment also included intercompany expenses of $1.0 million and $1.2 million for the three months ended March 31, 2017 and 2016, 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 March 31, 2017
 
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
 
$
227,417

 
$
32,654

 
$
10,713

 
$
(1,086
)
 
$
8,854

 
$
11,171

RMW
 
214,104

 
6,008

 
42,109

 
—

 
42,100

 
3,041

Corporate
 
—

 
4,810

 
(20,259
)
 
363

 
(38,246
)
 
2,900

Eliminations
 
(1,670
)
 
—

 
—

 
—

 
—

 
—

Consolidated (excluding discontinued operations)
 
$
439,851

 
$
43,472

 
$
32,563

 
$
(723
)
 
$
12,708

 
$
17,112

 
 
 
 
 
 
 
 
 
 
 
 
 
For the Three Months Ended March 31, 2016
 
 

 
 

 
 
 
 
 
 

 
 

PI
 
$
241,439

 
$
27,926

 
$
18,080

 
$
48

 
$
16,687

 
$
11,895

RMW
 
215,019

 
7,718

 
52,933

 
—

 
52,923

 
2,335

Corporate
 
(5
)
 
4,000

 
(12,788
)
 
(138
)
 
(42,072
)
 
4,601

Eliminations
 
(2,910
)
 
—

 
—

 
—

 
—

 
—

Consolidated (excluding discontinued operations)
 
$
453,543

 
$
39,644

 
$
58,225

 
$
(90
)
 
$
27,538

 
$
18,831


 


 


 


 


 


 



(in thousands)
 
As of
 
As of
Assets
 
March 31, 2017
 
December 31, 2016
PI
 
$
2,429,392

 
$
2,429,167

RMW
 
1,310,332

 
1,328,008

Corporate
 
5,600,913

 
5,575,846

Eliminations
 
(5,426,101
)
 
(5,426,149
)
Consolidated (excluding assets of discontinued operations)
 
$
3,914,536

 
$
3,906,872