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Segment Information
 6 Months Ended
Jun. 30, 2014
Segment Reporting [Abstract]  
Segment Information
Segment Information
 
The Company’s operating business units offer sophisticated information processing and software services and products. The Company presents these businesses as three operating segments, Financial Services, Healthcare Services and Customer Communications.  Investments in the Company’s equity securities, private equity investments, real estate and certain financial interests are included in the Investments and Other Segment.
 
Information concerning total assets by reporting segment is as follows (in millions): 
 
June 30,
2014
 
December 31,
2013
Financial Services
$
1,436.8

 
$
1,422.5

Healthcare Services
325.4

 
336.6

Customer Communications
397.1

 
403.0

Investments and Other
895.8

 
991.8

Elimination Adjustments
(61.8
)
 
(63.4
)
 
$
2,993.3

 
$
3,090.5


 
The Company evaluates the performance of its operating segments based on income before income taxes and interest expense.  Intersegment revenues are reflected at rates determined by the Company and may not be reflective of market rates.

Summarized financial information concerning the Company’s Segments is shown in the following tables (in millions):
 
Three Months Ended June 30, 2014
 
Financial
Services
 
Healthcare
Services
 
Customer
Communications
 
Investments /
Other
 
Elimination
Adjustments
 
Consolidated
Total
Operating revenues
$
254.6

 
$
92.9

 
$
158.3

 
$
3.8

 
$
—

 
$
509.6

Intersegment operating revenues
12.0

 
—

 
2.3

 
10.9

 
(25.2
)
 
—

Out-of-pocket reimbursements
12.6

 
1.6

 
158.2

 
0.1

 
(2.6
)
 
169.9

Total revenues
279.2

 
94.5

 
318.8

 
14.8

 
(27.8
)
 
679.5

 
 
 
 
 
 
 
 
 
 
 
 
Costs and expenses
211.6

 
83.0

 
297.5

 
9.0

 
(25.0
)
 
576.1

Depreciation and amortization
16.6

 
4.8

 
9.4

 
2.0

 
(0.7
)
 
32.1

 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from operations
51.0

 
6.7

 
11.9

 
3.8

 
(2.1
)
 
71.3

Other income, net
17.9

 
—

 
0.1

 
113.2

 
—

 
131.2

Equity in earnings of unconsolidated affiliates
7.8

 
0.2

 
0.2

 
1.4

 
—

 
9.6

 
 
 
 
 
 
 
 
 
 
 
 
Earnings (loss) before interest and income taxes
$
76.7

 
$
6.9

 
$
12.2

 
$
118.4

 
$
(2.1
)
 
$
212.1

 
 
Three Months Ended June 30, 2013
 
Financial
Services
 
Healthcare
Services
 
Customer
Communications
 
Investments /
Other
 
Elimination
Adjustments
 
Consolidated
Total
Operating revenues
$
238.4

 
$
82.0

 
$
160.8

 
$
3.9

 
$
—

 
$
485.1

Intersegment operating revenues
10.3

 
—

 
2.0

 
10.5

 
(22.8
)
 
—

Out-of-pocket reimbursements
11.1

 
1.4

 
161.2

 
—

 
(1.7
)
 
172.0

Total revenues
259.8

 
83.4

 
324.0

 
14.4

 
(24.5
)
 
657.1

 
 
 
 
 
 
 
 
 
 
 
 
Costs and expenses
192.6

 
67.3

 
304.7

 
8.7

 
(22.0
)
 
551.3

Depreciation and amortization
15.5

 
4.7

 
11.0

 
2.6

 
(0.7
)
 
33.1

 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from operations
51.7

 
11.4

 
8.3

 
3.1

 
(1.8
)
 
72.7

Other income, net
1.9

 
—

 
0.5

 
26.0

 
—

 
28.4

Equity in earnings of unconsolidated affiliates
8.1

 
0.1

 
—

 
1.3

 
—

 
9.5

 
 
 
 
 
 
 
 
 
 
 
 
Earnings (loss) before interest and income taxes
$
61.7

 
$
11.5

 
$
8.8

 
$
30.4

 
$
(1.8
)
 
$
110.6



Earnings before interest and income taxes in the segment reporting information above less interest expense of $7.0 million and $9.3 million for the three months ended June 30, 2014 and 2013 is equal to the Company’s income before income taxes on a consolidated basis for the corresponding periods.

 
Six Months Ended June 30, 2014
 
Financial
Services
 
Healthcare
Services
 
Customer
Communications
 
Investments /
Other
 
Elimination
Adjustments
 
Consolidated
Total
Operating revenues
$
498.9

 
$
184.9

 
$
323.7

 
$
7.3

 
$
—

 
$
1,014.8

Intersegment operating revenues
24.1

 
—

 
4.4

 
21.6

 
(50.1
)
 
—

Out-of-pocket reimbursements
26.3

 
3.0

 
324.2

 
0.1

 
(5.1
)
 
348.5

Total revenues
549.3

 
187.9

 
652.3

 
29.0

 
(55.2
)
 
1,363.3

 
 
 
 
 
 
 
 
 
 
 
 
Costs and expenses
427.5

 
159.8

 
604.6

 
17.8

 
(49.9
)
 
1,159.8

Depreciation and amortization
33.3

 
9.7

 
18.4

 
4.0

 
(1.3
)
 
64.1

 


 


 


 


 


 


Income (loss) from operations
88.5

 
18.4

 
29.3

 
7.2

 
(4.0
)
 
139.4

Other income, net
20.1

 
—

 
0.2

 
204.5

 
—

 
224.8

Equity in earnings of unconsolidated affiliates
11.7

 
0.3

 
0.6

 
2.4

 
—

 
15.0

 


 


 


 


 


 


Earnings (loss) before interest and income taxes
$
120.3

 
$
18.7

 
$
30.1

 
$
214.1

 
$
(4.0
)
 
$
379.2


 
Six Months Ended June 30, 2013
 
Financial
Services
 
Healthcare
Services
 
Customer
Communications
 
Investments /
Other
 
Elimination
Adjustments
 
Consolidated
Total
Operating revenues
$
476.4

 
$
162.0

 
$
334.0

 
$
7.9

 
$
—

 
$
980.3

Intersegment operating revenues
21.1

 
—

 
4.0

 
20.8

 
(45.9
)
 
—

Out-of-pocket reimbursements
23.1

 
2.7

 
337.1

 
—

 
(3.7
)
 
359.2

Total revenues
520.6

 
164.7

 
675.1

 
28.7

 
(49.6
)
 
1,339.5

 
 
 
 
 
 
 
 
 
 
 
 
Costs and expenses
390.2

 
136.8

 
625.8

 
17.5

 
(44.4
)
 
1,125.9

Depreciation and amortization
31.3

 
9.4

 
21.8

 
5.1

 
(1.3
)
 
66.3

 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from operations
99.1

 
18.5

 
27.5

 
6.1

 
(3.9
)
 
147.3

Other income (loss), net
(2.6
)
 
0.1

 
(0.3
)
 
104.4

 
—

 
101.6

Equity in earnings of unconsolidated affiliates
11.6

 
0.2

 
0.1

 
3.2

 
—

 
15.1

 
 
 
 
 
 
 
 
 
 
 
 
Earnings (loss) before interest and income taxes
$
108.1

 
$
18.8

 
$
27.3

 
$
113.7

 
$
(3.9
)
 
$
264.0



Earnings before interest and income taxes in the segment reporting information above less interest expense of $13.6 million and $18.9 million for the six months ended June 30, 2014 and 2013 is equal to the Company’s income before income taxes on a consolidated basis for the corresponding periods.