SEGMENT REPORTING

Our business segments are based upon our organizational structure, which focuses primarily on the services offered, and are consistent with the internal reporting used by our Chief Executive Officer (our chief operating decision maker) to evaluate operating performance and to assess the allocation of our resources.

Effective January 1, 2017, our reportable segments changed as a result of a change in the way our chief operating decision maker manages our businesses, allocates resources and evaluates performance, and the related changes in our internal organization. We now report our operations through two new reportable segments: Mortgage Market and Real Estate Market. In addition, we report Other Businesses, Corporate and Eliminations separately. Prior to the January 1, 2017 change in reportable segments, our reportable segments were Mortgage Services, Financial Services and Technology Services. The former Mortgage Services segment was separated into the Mortgage Market and Real Estate Market segments. Furthermore, certain of the software services business units that were formerly in the Technology Services segment and the mortgage charge-off collections business that was formerly in the Financial Services segment are now included in the Mortgage Market. Other Businesses, Corporate and Eliminations includes asset recovery management services and customer relationship management services that were formerly in the Financial Services segment as well as IT infrastructure management services formerly in the Technology Services segment. Prior year comparable period segment disclosures have been restated to conform to the current year presentation.

The Mortgage Market segment provides loan servicers and originators with marketplaces, services and technologies that span the mortgage lifecycle. The Real Estate Market segment provides real estate consumers and rental property investors with marketplaces and services that span the real estate lifecycle. In addition, the Other Businesses, Corporate and Eliminations segment includes businesses that provide post-charge-off consumer debt collection services primarily to debt originators (e.g., credit card, auto lending and retail credit), customer relationship management services primarily to the utility, insurance and hotel industries and IT infrastructure management services. Other Businesses, Corporate and Eliminations also includes interest expense and costs related to corporate support functions including executive, finance, law, compliance, human resources, vendor management, facilities, risk management, and sales and marketing costs not allocated to the business units as well as eliminations between the reportable segments.

Financial information for our segments is as follows:



	For the year ended December 31, 2017
(in thousands)	Mortgage Market		Real Estate Market			Other Businesses, Corporate and Eliminations			Consolidated Altisource

Revenue	$	793,684	$	89,787		$	58,742		$	942,213
Cost of revenue	545,507		96,967			57,391			699,865
Gross profit (loss)	248,177		(7,180		)	1,351			242,348
Selling, general and administrative expenses	114,215		18,718			59,709			192,642
Income (loss) from operations	133,962		(25,898		)	(58,358		)	49,706
Total other income (expense), net	72		(4		)	(14,399		)	(14,331		)

Income (loss) before income taxes and non-controlling interests	$	134,034	$	(25,902	)	$	(72,757	)	$	35,375



	For the year ended December 31, 2016
(in thousands)	Mortgage Market		Real Estate Market			Other Businesses, Corporate and Eliminations			Consolidated Altisource

Revenue	$	827,324	$	86,590		$	83,389		$	997,303
Cost of revenue	546,540		64,566			78,939			690,045
Gross profit	280,784		22,024			4,450			307,258
Selling, general and administrative expenses	121,508		23,291			69,356			214,155
Litigation settlement loss, net of $4,000 insurance recovery	—		—			28,000			28,000
Income (loss) from operations	159,276		(1,267		)	(92,906		)	65,103
Total other income (expense), net	154		(5		)	(20,931		)	(20,782		)

Income (loss) before income taxes and non-controlling interests	$	159,430	$	(1,272	)	$	(113,837	)	$	44,321



	For the year ended December 31, 2015
(in thousands)	Mortgage Market			Real Estate Market		Other Businesses, Corporate and Eliminations			Consolidated Altisource

Revenue	$	885,174		$	54,199	$	112,093		$	1,051,466
Cost of revenue	552,676			38,541		96,110			687,327
Gross profit	332,498			15,658		15,983			364,139
Selling, general and administrative expenses	132,334			7,514		81,020			220,868
Impairment losses	64,146			—		7,639			71,785
Change in the fair value of Equator Earn Out	(7,591		)	—		—			(7,591		)
Income (loss) from operations	143,609			8,144		(72,676		)	79,077
Total other income (expense), net	621			2		(26,640		)	(26,017		)

Income (loss) before income taxes and non-controlling interests	$	144,230		$	8,146	$	(99,316	)	$	53,060



(in thousands)	Mortgage Market		Real Estate Market		Other Businesses, Corporate and Eliminations		Consolidated Altisource

Total assets:
December 31, 2017	$	304,346	$	64,624	$	496,194	$	865,164
December 31, 2016	347,067		47,863		294,282		689,212

Our services are primarily provided to customers located in the United States. Premises and equipment, net consist of the following, by country, as of December 31:



(in thousands)	2017		2016

United States	$	46,268	$	71,418
India	8,136		14,006
Luxembourg	16,688		14,791
Philippines	2,038		3,027
Uruguay	143		231

Total	$	73,273	$	103,473