| Segment Information |
Segment Information On September 29, 2017, we completed the BK Distribution. As a result, Black Knight is no longer a reportable segment and the historical results of Black Knight are presented as discontinued operations for all periods presented and are excluded from the following tables. Refer to Note G Discontinued Operations for further discussion of the results of Black Knight. On November 17, 2017, we completed the FNFV Split-off. As a result, FNFV is no longer a reportable segment and the historical results of FNFV are presented as discontinued operations for all periods presented and are excluded from the following tables. Refer to Note G Discontinued Operations for further discussion of the results of FNFV. Summarized financial information concerning our reportable segments is shown in the following tables. There are certain intercompany corporate related arrangements between our various businesses. The effects of these arrangements including intercompany notes and related interest and any other non-operational intercompany revenues and expenses have been eliminated in the segment presentations below.
As of and for the year ended December 31, 2017: | | | | | | | | | | | | | | Title | | Corporate and Other | | Total FNF | | (In millions) | Title premiums | $ | 4,893 |
| | $ | — |
| | $ | 4,893 |
| Other revenues | 2,181 |
| | 456 |
| | 2,637 |
| Revenues from external customers | 7,074 |
| | 456 |
| | 7,530 |
| Interest and investment income (loss), including realized gains and losses | 137 |
| | (4 | ) | | 133 |
| Total revenues | 7,211 |
| | 452 |
| | 7,663 |
| Depreciation and amortization | 159 |
| | 24 |
| | 183 |
| Interest expense | — |
| | 48 |
| | 48 |
| Earnings (loss) from continuing operations, before income taxes and equity in earnings of unconsolidated affiliates | 955 |
| | (91 | ) | | 864 |
| Income tax expense (benefit) | 274 |
| | (39 | ) | | 235 |
| Earnings (loss) from continuing operations, before equity in earnings of unconsolidated affiliates | 681 |
| | (52 | ) | | 629 |
| Equity in earnings of unconsolidated affiliates | 10 |
| | — |
| | 10 |
| Earnings (loss) from continuing operations | $ | 691 |
| | $ | (52 | ) | | $ | 639 |
| Assets | $ | 8,405 |
| | $ | 746 |
| | $ | 9,151 |
| Goodwill | 2,432 |
| | 314 |
| | 2,746 |
|
As of and for the year ended December 31, 2016: | | | | | | | | | | | | | | Title | | Corporate and Other | | Total FNF | | (In millions) | Title premiums | $ | 4,723 |
| | $ | — |
| | $ | 4,723 |
| Other revenues | 2,128 |
| | 288 |
| | 2,416 |
| Revenues from external customers | 6,851 |
| | 288 |
| | 7,139 |
| Interest and investment income (loss), including realized gains and losses | 127 |
| | (9 | ) | | 118 |
| Total revenues | 6,978 |
| | 279 |
| | 7,257 |
| Depreciation and amortization | 148 |
| | 12 |
| | 160 |
| Interest expense | — |
| | 64 |
| | 64 |
| Earnings (loss) from continuing operations, before income taxes and equity in earnings of unconsolidated affiliates | 1,025 |
| | (70 | ) | | 955 |
| Income tax expense (benefit) | 386 |
| | (39 | ) | | 347 |
| Earnings (loss) from continuing operations, before equity in earnings of unconsolidated affiliates | 639 |
| | (31 | ) | | 608 |
| Equity in earnings of unconsolidated affiliates | 13 |
| | 1 |
| | 14 |
| Earnings (loss) from continuing operations | $ | 652 |
| | $ | (30 | ) | | $ | 622 |
| Assets | $ | 8,756 |
| | $ | 5,765 |
| | $ | 14,521 |
| Goodwill | 2,345 |
| | 210 |
| | 2,555 |
|
As of and for the year ended December 31, 2015: | | | | | | | | | | | | | | Title | | Corporate and Other | | Total FNF | | (In millions) | Title premiums | $ | 4,286 |
| | $ | — |
| | $ | 4,286 |
| Other revenues | 2,005 |
| | 241 |
| | 2,246 |
| Revenues from external customers | 6,291 |
| | 241 |
| | 6,532 |
| Interest and investment income (loss), including realized gains and losses | 137 |
| | (5 | ) | | 132 |
| Total revenues | 6,428 |
| | 236 |
| | 6,664 |
| Depreciation and amortization | 144 |
| | 6 |
| | 150 |
| Interest expense | — |
| | 73 |
| | 73 |
| Earnings (loss) from continuing operations, before income taxes and equity in earnings (loss) of unconsolidated affiliates | 836 |
| | (66 | ) | | 770 |
| Income tax expense (benefit) | 305 |
| | (31 | ) | | 274 |
| Earnings (loss) from continuing operations, before equity in earnings (loss) of unconsolidated affiliates | 531 |
| | (35 | ) | | 496 |
| Equity in earnings (loss) of unconsolidated affiliates | 6 |
| | (1 | ) | | 5 |
| Earnings (loss) from continuing operations | $ | 537 |
| | $ | (36 | ) | | $ | 501 |
| Assets | $ | 8,533 |
| | $ | 5,510 |
| | $ | 14,043 |
| Goodwill | 2,303 |
| | 45 |
| | 2,348 |
|
The activities in our segments include the following: | | • | Title. This segment consists of the operations of our title insurance underwriters and related businesses. This segment provides core title insurance and escrow and other title-related services including trust activities, trustee sales guarantees, recordings and reconveyances, and home warranty products. This segment also includes our transaction services business, which includes other title-related services used in the production and management of mortgage loans, including mortgage loans that experience default. |
| | • | Corporate and Other. This segment consists of the operations of the parent holding company, our various real estate brokerage businesses, and CINC and other real estate technology subsidiaries. This segment also includes certain other unallocated corporate overhead expenses and eliminations of revenues and expenses between it and our Title segment. This segment also includes the assets of discontinued operations, Black Knight and FNFV, as of December 31, 2016 and 2015. Refer to Note G. Discontinued Operations for further information. |
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