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SEGMENT REPORTING (Tables)
6 Months Ended
Jun. 30, 2014
SEGMENT REPORTING  
Summary of segment information

 

 

 

 

Three Months Ended June 30, 2014

 

 

 

Technology

 

Bankruptcy
and Settlement
Administration

 

Eliminations

 

Total

 

 

 

(in thousands)

 

Revenues:

 

 

 

 

 

 

 

 

 

Operating revenues

 

$

78,523

 

$

36,928

 

$

 

$

115,451

 

Intersegment revenues

 

258

 

 

(258

)

 

 

 

 

 

 

 

 

 

 

 

Operating revenues including intersegment revenue

 

78,781

 

36,928

 

(258

)

115,451

 

Reimbursable expenses

 

850

 

8,755

 

 

9,605

 

Total revenues

 

79,631

 

45,683

 

(258

)

125,056

 

 

 

 

 

 

 

 

 

 

 

Direct costs, selling, general and administrative costs

 

59,094

 

31,780

 

(258

)

90,616

 

Segment performance measure

 

$

20,537

 

$

13,903

 

$

 

$

34,440

 

 

 

 

 

 

 

 

 

 

 

Segment performance measure as a percentage of segment operating revenue

 

26.2

%

37.6

%

 

29.8

%

 

 

 

 

 

Three Months Ended June 30, 2013

 

 

 

Technology

 

Bankruptcy
and Settlement
Administration

 

Eliminations

 

Total

 

 

 

(in thousands)

 

Revenues:

 

 

 

 

 

 

 

 

 

Operating revenues

 

$

70,126

 

$

34,850

 

$

 

$

104,976

 

Intersegment revenues

 

78

 

 

(78

)

 

 

 

 

 

 

 

 

 

 

 

Operating revenues including intersegment revenue

 

70,204

 

34,850

 

(78

)

104,976

 

Reimbursable expenses

 

535

 

7,861

 

 

8,396

 

Total revenues

 

70,739

 

42,711

 

(78

)

113,372

 

 

 

 

 

 

 

 

 

 

 

Direct costs, selling, general and administrative costs

 

48,979

 

31,788

 

(78

)

80,689

 

Segment performance measure

 

$

21,760

 

$

10,923

 

$

 

$

32,683

 

 

 

 

 

 

 

 

 

 

 

Segment performance measure as a percentage of segment operating revenue

 

31.0

%

31.3

%

 

31.1

%

 

 

 

Six Months Ended June 30, 2014

 

 

 

Technology

 

Bankruptcy
and Settlement
Administration

 

Eliminations

 

Total

 

 

 

(in thousands)

 

Revenues:

 

 

 

 

 

 

 

 

 

Operating revenues

 

$

159,692

 

$

71,979

 

$

 

$

231,671

 

Intersegment revenues

 

438

 

 

(438

)

 

 

 

 

 

 

 

 

 

 

 

Operating revenues including intersegment revenue

 

160,130

 

71,979

 

(438

)

231,671

 

Reimbursable expenses

 

1,957

 

14,699

 

 

16,656

 

Total revenues

 

162,087

 

86,678

 

(438

)

248,327

 

 

 

 

 

 

 

 

 

 

 

Direct costs, selling, general and administrative costs

 

119,252

 

60,824

 

(438

)

179,638

 

Segment performance measure

 

$

42,835

 

$

25,854

 

$

 

$

68,689

 

 

 

 

 

 

 

 

 

 

 

Segment performance measure as a percentage of segment operating revenue

 

26.8

%

35.9

%

 

29.6

%

 

 

 

 

 

Six Months Ended June 30, 2013

 

 

 

Technology

 

Bankruptcy
and Settlement
Administration

 

Eliminations

 

Total

 

 

 

(in thousands)

 

Revenues:

 

 

 

 

 

 

 

 

 

Operating revenues

 

$

124,913

 

$

82,971

 

$

 

$

207,884

 

Intersegment revenues

 

83

 

 

(83

)

 

 

 

 

 

 

 

 

 

 

 

Operating revenues including intersegment revenue

 

124,996

 

82,971

 

(83

)

207,884

 

Reimbursable expenses

 

822

 

28,256

 

 

29,078

 

Total revenues

 

125,818

 

111,227

 

(83

)

236,962

 

 

 

 

 

 

 

 

 

 

 

Direct costs, selling, general and administrative costs

 

87,666

 

85,705

 

(83

)

173,288

 

Segment performance measure

 

$

38,152

 

$

25,522

 

$

 

$

63,674

 

 

 

 

 

 

 

 

 

 

 

Segment performance measure as a percentage of segment operating revenue

 

30.5

%

30.8

%

 

30.6

%

Schedule of reconciliation of segment performance measure to income (loss) before income taxes

 

 

 

 

Three Months Ended June 30,

 

 

 

2014

 

2013

 

 

 

(in thousands)

 

Segment performance measure

 

$

34,440

 

$

32,683

 

Unallocated corporate expenses

 

(21,988

)

(11,017

)

Share-based compensation expense

 

(737

)

(2,825

)

Depreciation and software and leasehold amortization

 

(9,255

)

(7,391

)

Amortization of intangible assets

 

(3,166

)

(4,736

)

Loss on disposition of property and equipment

 

(339

)

(4

)

Other operating expense

 

(157

)

(49

)

Income (loss) from operations

 

(1,202

)

6,661

 

Interest expense, net

 

(3,843

)

(1,996

)

Income (loss) before income taxes

 

$

(5,045

)

$

4,665

 

 

 

 

 

 

Six Months Ended June 30,

 

 

 

2014

 

2013

 

 

 

(in thousands)

 

Segment performance measure

 

$

68,689

 

$

63,674

 

Unallocated corporate expenses

 

(38,029

)

(21,323

)

Share-based compensation expense

 

(4,276

)

(4,364

)

Depreciation and software and leasehold amortization

 

(17,955

)

(14,390

)

Amortization of intangible assets

 

(6,286

)

(9,702

)

Fair value adjustment to contingent consideration

 

(1,142

)

 

Loss on disposition of property and equipment

 

(351

)

(22

)

Other operating expense

 

(226

)

(96

)

Income from operations

 

424

 

13,777

 

Interest expense, net

 

(8,716

)

(3,831

)

Income (loss) before income taxes

 

$

(8,292

)

$

9,946

 

Schedule of total assets by segment

 

 

 

June 30,
 2014

 

December 31,
2013

 

 

 

(in thousands)

 

Assets

 

 

 

 

 

Technology

 

$

355,786

 

$

369,135

 

Bankruptcy and Settlement Administration

 

288,441

 

281,073

 

Unallocated corporate

 

79,559

 

97,573

 

Total consolidated assets

 

$

723,786

 

$

747,781