Segment Information

We have organized our reportable segments into two segments: PIRM and UWS.

Property Intelligence & Risk Management Solutions. Our PIRM segment combines property information, mortgage information and consumer information to deliver unique housing market and property-level insights, predictive analytics and risk management capabilities. We have also developed proprietary technology and software platforms to access, automate or track this information and assist our clients with decision-making and compliance tools in the real estate industry, insurance industry and the single and multifamily industry. We deliver this information directly to our clients in a standard format over the web, through hosted software platforms or in bulk data form. Our solutions include property insights and insurance & spatial 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, MLS companies, property and casualty insurance companies, title insurance companies, government agencies and government-sponsored enterprises.

The operating results of our PIRM segment included intercompany revenues of $1.5 million and $1.4 million for the three months ended March 31, 2018 and 2017, respectively. The segment also included intercompany expenses of $0.8 million and $0.7 million for the three months ended March 31, 2018 and 2017, respectively.

Underwriting & Workflow Solutions. Our UWS segment combines property information, mortgage information and consumer information to provide comprehensive mortgage origination and monitoring solutions, including, underwriting-related solutions and data-enabled valuations and appraisals. We have also developed proprietary technology and software platforms to access, automate or track this information and assist our clients with vetting and onboarding prospects, meeting compliance regulations and understanding, diagnosing and monitoring property values. Our solutions include property tax solutions, valuation solutions, credit solutions and flood services 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 property and casualty insurance companies.

The operating results of our UWS segment included intercompany revenues of $0.8 million and $0.7 million for the three months ended March 31, 2018 and 2017, respectively. The segment also included intercompany expenses of $1.5 million and $1.4 million for the three months ended March 31, 2018 and 2017, 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/(losses) of affiliates, net of tax, and interest expense.

Selected financial information by reportable segment is as follows:



(in thousands)
For the Three Months Ended March 31, 2018	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
PIRM	$	173,767		$	25,735	$	20,778		$	271		$	20,671		$	13,206
UWS	273,419			14,964		48,053			18			47,754			2,313
Corporate	—			5,441		(24,412		)	(56		)	(40,063		)	3,965
Eliminations	(2,286		)	—		—			—			—			—
Consolidated (excluding discontinued operations)	$	444,900		$	46,140	$	44,419		$	233		$	28,362		$	19,484

For the Three Months Ended March 31, 2017
PIRM	$	165,756		$	24,860	$	15,572		$	(293	)	$	14,761		$	12,788
UWS	276,191			13,802		37,250			(793		)	36,193			1,424
Corporate	—			4,810		(20,259		)	363			(38,246		)	2,900
Eliminations	(2,096		)	—		—			—			—			—
Consolidated (excluding discontinued operations)	$	439,851		$	43,472	$	32,563		$	(723	)	$	12,708		$	17,112



(in thousands)	As of			As of
Assets	March 31, 2018			December 31, 2017
PIRM	$	1,908,569		$	1,911,222
UWS	2,158,437			2,151,092
Corporate	5,635,265			5,628,824
Eliminations	(5,635,660		)	(5,614,108		)
Consolidated (excluding discontinued operations)	$	4,066,611		$	4,077,030