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 $1.7 million and $1.6 million for the three months ended June 30, 2018 and 2017, respectively, and $3.2 million and $3.0 million for the six months ended June 30, 2018 and 2017, respectively. The segment also included intercompany expenses of $0.8 million and $0.7 million for the three months ended June 30, 2018 and 2017, respectively, and $1.6 million and $1.5 million for the six months ended June 30, 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 June 30, 2018 and 2017, respectively, and $1.6 million and $1.5 million for the six months ended June 30, 2018 and 2017, respectively. The segment also included intercompany expenses of $1.7 million and $1.6 million for the three months ended June 30, 2018 and 2017, respectively, and $3.2 million and $3.0 million for the six months ended June 30, 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 June 30, 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	$	182,655		$	25,512	$	28,974		$	3,740		$	32,295		$	13,917
UWS	308,226			16,483		85,897			(10		)	85,868			2,386
Corporate	—			5,401		(25,234		)	(893		)	(59,631		)	4,180
Eliminations	(2,480		)	—		—			—			—			—
Consolidated (excluding discontinued operations)	$	488,401		$	47,396	$	89,637		$	2,837		$	58,532		$	20,483

For the Three Months Ended June 30, 2017
PIRM	$	176,311		$	24,132	$	32,099		$	(166	)	$	31,470		$	14,812
UWS	300,031			13,605		66,596			(174		)	60,470			2,413
Corporate	—			5,134		(20,302		)	60			(50,758		)	3,102
Eliminations	(2,364		)	—		—			—			—			—
Consolidated (excluding discontinued operations)	$	473,978		$	42,871	$	78,393		$	(280	)	$	41,182		$	20,327

For the Six Months Ended June 30, 2018
PIRM	$	356,422		$	51,247	$	49,752		$	4,011		$	52,966		$	27,123
UWS	581,645			31,447		133,950			8			133,622			4,699
Corporate	—			10,842		(49,646		)	(949		)	(99,694		)	8,145
Eliminations	(4,766		)	—		—			—			—			—
Consolidated (excluding discontinued operations)	$	933,301		$	93,536	$	134,056		$	3,070		$	86,894		$	39,967

For the Six Months Ended June 30, 2017
PIRM	$	342,067		$	48,992	$	47,671		$	(459	)	$	46,231		$	27,600
UWS	576,222			27,408		103,849			(967		)	96,664			3,837
Corporate	—			9,943		(40,562		)	422			(89,004		)	6,002
Eliminations	(4,460		)	—		—			—			—			—
Consolidated (excluding discontinued operations)	$	913,829		$	86,343	$	110,958		$	(1,004	)	$	53,891		$	37,439



(in thousands)	As of			As of
Assets	June 30, 2018			December 31, 2017
PIRM	$	1,900,141		$	1,911,222
UWS	2,260,370			2,151,092
Corporate	5,751,261			5,628,824
Eliminations	(5,755,445		)	(5,614,108		)
Consolidated (excluding discontinued operations)	$	4,156,327		$	4,077,030