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Segment Information
 9 Months Ended
Sep. 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): 
 
September 30,
2014
 
December 31,
2013
Financial Services
$
1,315.0

 
$
1,422.5

Healthcare Services
343.6

 
336.6

Customer Communications
411.1

 
403.0

Investments and Other
880.1

 
991.8

Elimination Adjustments
(60.9
)
 
(63.4
)
 
$
2,888.9

 
$
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 September 30, 2014
 
Financial
Services
 
Healthcare
Services
 
Customer
Communications
 
Investments /
Other
 
Elimination
Adjustments
 
Consolidated
Total
Operating revenues
$
254.4

 
$
95.5

 
$
156.7

 
$
3.9

 
$
—

 
$
510.5

Intersegment operating revenues
12.5

 
—

 
2.4

 
11.0

 
(25.9
)
 
—

Out-of-pocket reimbursements
11.3

 
1.9

 
158.6

 
—

 
(2.8
)
 
169.0

Total revenues
278.2

 
97.4

 
317.7

 
14.9

 
(28.7
)
 
679.5

 
 
 
 
 
 
 
 
 
 
 
 
Costs and expenses
210.7

 
73.1

 
296.2

 
9.2

 
(25.9
)
 
563.3

Depreciation and amortization
17.6

 
4.7

 
9.5

 
2.2

 
(0.6
)
 
33.4

 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from operations
49.9

 
19.6

 
12.0

 
3.5

 
(2.2
)
 
82.8

Other income, net
0.3

 
0.1

 
0.1

 
57.0

 
—

 
57.5

Equity in earnings of unconsolidated affiliates
8.7

 
0.1

 
0.2

 
1.2

 
—

 
10.2

 
 
 
 
 
 
 
 
 
 
 
 
Earnings (loss) before interest and income taxes
$
58.9

 
$
19.8

 
$
12.3

 
$
61.7

 
$
(2.2
)
 
$
150.5

 
 
Three Months Ended September 30, 2013
 
Financial
Services
 
Healthcare
Services
 
Customer
Communications
 
Investments /
Other
 
Elimination
Adjustments
 
Consolidated
Total
Operating revenues
$
237.1

 
$
80.7

 
$
158.8

 
$
3.6

 
$
—

 
$
480.2

Intersegment operating revenues
11.7

 
—

 
1.7

 
11.0

 
(24.4
)
 
—

Out-of-pocket reimbursements
8.8

 
1.5

 
163.1

 
0.1

 
(1.9
)
 
171.6

Total revenues
257.6

 
82.2

 
323.6

 
14.7

 
(26.3
)
 
651.8

 
 
 
 
 
 
 
 
 
 
 
 
Costs and expenses
187.0

 
66.0

 
297.2

 
4.6

 
(23.4
)
 
531.4

Depreciation and amortization
16.2

 
4.8

 
10.9

 
2.9

 
(0.7
)
 
34.1

 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from operations
54.4

 
11.4

 
15.5

 
7.2

 
(2.2
)
 
86.3

Other income, net
2.6

 
0.1

 
0.5

 
70.2

 
—

 
73.4

Equity in earnings of unconsolidated affiliates
2.5

 
0.1

 
0.2

 
1.0

 
—

 
3.8

 
 
 
 
 
 
 
 
 
 
 
 
Earnings (loss) before interest and income taxes
$
59.5

 
$
11.6

 
$
16.2

 
$
78.4

 
$
(2.2
)
 
$
163.5



Earnings before interest and income taxes in the segment reporting information above less interest expense of $6.4 million and $8.4 million for the three months ended September 30, 2014 and 2013 is equal to the Company’s income before income taxes on a consolidated basis for the corresponding periods.

 
Nine Months Ended September 30, 2014
 
Financial
Services
 
Healthcare
Services
 
Customer
Communications
 
Investments /
Other
 
Elimination
Adjustments
 
Consolidated
Total
Operating revenues
$
753.3

 
$
280.4

 
$
480.4

 
$
11.2

 
$
—

 
$
1,525.3

Intersegment operating revenues
36.6

 
—

 
6.8

 
32.6

 
(76.0
)
 
—

Out-of-pocket reimbursements
37.6

 
4.9

 
482.8

 
0.1

 
(7.9
)
 
517.5

Total revenues
827.5

 
285.3

 
970.0

 
43.9

 
(83.9
)
 
2,042.8

 
 
 
 
 
 
 
 
 
 
 
 
Costs and expenses
638.2

 
232.9

 
900.8

 
27.0

 
(75.8
)
 
1,723.1

Depreciation and amortization
50.9

 
14.4

 
27.9

 
6.2

 
(1.9
)
 
97.5

 


 


 


 


 


 


Income (loss) from operations
138.4

 
38.0

 
41.3

 
10.7

 
(6.2
)
 
222.2

Other income, net
20.4

 
0.1

 
0.3

 
261.5

 
—

 
282.3

Equity in earnings of unconsolidated affiliates
20.4

 
0.4

 
0.8

 
3.6

 
—

 
25.2

 


 


 


 


 


 


Earnings (loss) before interest and income taxes
$
179.2

 
$
38.5

 
$
42.4

 
$
275.8

 
$
(6.2
)
 
$
529.7


 
Nine Months Ended September 30, 2013
 
Financial
Services
 
Healthcare
Services
 
Customer
Communications
 
Investments /
Other
 
Elimination
Adjustments
 
Consolidated
Total
Operating revenues
$
713.5

 
$
242.7

 
$
492.8

 
$
11.5

 
$
—

 
$
1,460.5

Intersegment operating revenues
32.8

 
—

 
5.7

 
31.8

 
(70.3
)
 
—

Out-of-pocket reimbursements
31.9

 
4.2

 
500.2

 
0.1

 
(5.6
)
 
530.8

Total revenues
778.2

 
246.9

 
998.7

 
43.4

 
(75.9
)
 
1,991.3

 
 
 
 
 
 
 
 
 
 
 
 
Costs and expenses
577.2

 
202.8

 
923.0

 
22.1

 
(67.8
)
 
1,657.3

Depreciation and amortization
47.5

 
14.2

 
32.7

 
8.0

 
(2.0
)
 
100.4

 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from operations
153.5

 
29.9

 
43.0

 
13.3

 
(6.1
)
 
233.6

Other income, net
—

 
0.2

 
0.2

 
174.6

 
—

 
175.0

Equity in earnings of unconsolidated affiliates
14.1

 
0.3

 
0.3

 
4.2

 
—

 
18.9

 
 
 
 
 
 
 
 
 
 
 
 
Earnings (loss) before interest and income taxes
$
167.6

 
$
30.4

 
$
43.5

 
$
192.1

 
$
(6.1
)
 
$
427.5



Earnings before interest and income taxes in the segment reporting information above less interest expense of $20.0 million and $27.3 million for the nine months ended September 30, 2014 and 2013 is equal to the Company’s income before income taxes on a consolidated basis for the corresponding periods.