Segment Information

We have organized into two reportable 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 September 30, 2018 and 2017, respectively, and $4.9 million and $4.6 million for the nine months ended September 30, 2018 and 2017, respectively. The segment also included intercompany expenses of $0.7 million and $1.0 million for the three months ended September 30, 2018 and 2017, respectively, and $2.3 million and $2.5 million for the nine months ended September 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 $0.7 million and $1.0 million for the three months ended September 30, 2018 and 2017, respectively, and $2.3 million and $2.5 million for the nine months ended September 30, 2018 and 2017, respectively. The segment also included intercompany expenses of $1.7 million and $1.6 million for the three months ended September 30, 2018 and 2017, respectively, and $4.9 million and $4.6 million for the nine months ended September 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 (losses)/earnings of affiliates, net of tax, and interest expense.

Selected financial information by reportable segment is as follows:



(in thousands)
For the Three Months Ended September 30, 2018	Operating Revenues			Depreciation and Amortization		Operating Income/(Loss)			Equity in (Losses)/Earnings of Affiliates, Net of Tax			Net Income/(Loss) From Continuing Operations			Capital Expenditures
PIRM	$	180,607		$	26,176	$	22,978		$	(168	)	$	24,242		$	12,200
UWS	273,625			16,402		61,850			(12		)	61,621			3,151
Corporate	—			5,916		(25,048		)	19			(63,328		)	10,715
Eliminations	(2,464		)	—		—			—			—			—
Consolidated (excluding discontinued operations)	$	451,768		$	48,494	$	59,780		$	(161	)	$	22,535		$	26,066

For the Three Months Ended September 30, 2017
PIRM	$	180,796		$	25,489	$	13,150		$	—		$	12,733		$	12,986
UWS	304,977			14,615		74,180			(274		)	71,512			1,804
Corporate	—			5,222		(25,034		)	45			(53,417		)	2,049
Eliminations	(2,642		)	—		—			—			—			—
Consolidated (excluding discontinued operations)	$	483,131		$	45,326	$	62,296		$	(229	)	$	30,828		$	16,839

For the Nine Months Ended September 30, 2018
PIRM	$	537,029		$	77,423	$	72,730		$	3,843		$	77,208		$	39,323
UWS	855,270			47,849		195,800			(4		)	195,243			7,850
Corporate	—			16,758		(74,694		)	(930		)	(163,022		)	18,860
Eliminations	(7,230		)	—		—			—			—			—
Consolidated (excluding discontinued operations)	$	1,385,069		$	142,030	$	193,836		$	2,909		$	109,429		$	66,033

For the Nine Months Ended September 30, 2017
PIRM	$	522,863		$	74,481	$	60,821		$	(459	)	$	58,964		$	40,586
UWS	881,199			42,023		178,029			(1,241		)	168,177			5,640
Corporate	—			15,164		(65,595		)	468			(142,419		)	8,052
Eliminations	(7,102		)	—		—			—			—			—
Consolidated (excluding discontinued operations)	$	1,396,960		$	131,668	$	173,255		$	(1,232	)	$	84,722		$	54,278



(in thousands)	As of			As of
Assets	September 30, 2018			December 31, 2017
PIRM	$	1,874,632		$	1,911,222
UWS	2,259,869			2,151,092
Corporate	5,762,333			5,628,824
Eliminations	(5,755,619		)	(5,614,108		)
Consolidated (excluding discontinued operations)	$	4,141,215		$	4,077,030