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SEGMENT REPORTING (Details)
$ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2018
USD ($)
Sep. 30, 2018
USD ($)
[1],[2],[3],[4],[5],[6],[7]
Jun. 30, 2018
USD ($)
[1],[2],[3],[4],[5],[6],[7]
Mar. 31, 2018
USD ($)
[1],[2],[3],[4],[5],[6],[7]
Dec. 31, 2017
USD ($)
Sep. 30, 2017
USD ($)
[7],[8]
Jun. 30, 2017
USD ($)
[7],[8]
Mar. 31, 2017
USD ($)
[7],[8]
Dec. 31, 2018
USD ($)
segment
Dec. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Jan. 19, 2017
USD ($)
SEGMENT REPORTING                        
Revenue $ 217,633 [1],[2],[3],[4],[5],[6],[7] $ 204,575 $ 218,556 $ 197,438 $ 216,066 [7],[8] $ 234,979 $ 250,685 $ 240,483 $ 838,202 $ 942,213 $ 997,303  
Cost of revenue                 622,165 699,865 690,045  
Gross profit 53,448 [1],[2],[3],[4],[5],[6],[7] 56,995 55,350 50,244 54,445 [7],[8] 60,081 65,292 62,530 216,037 242,348 307,258  
Selling, general and administrative expenses                 175,670 192,642 214,155  
Gain on sale of business                 (13,688) 0 0  
Restructuring charges                 11,560 0 0  
Litigation settlement loss, net of $4,000 insurance recovery (Note 20)                 0 0 28,000  
Income (loss) from operations                 42,495 49,706 65,103  
Total other income (expense), net                 (41,096) (14,331) (20,782)  
Income before income taxes and non-controlling interests (12,829) [1],[2],[3],[4],[5],[6],[7] $ 16,129 $ 3,071 $ (4,972) 3,112 [7],[8] $ 10,357 $ 12,160 $ 9,746 1,399 35,375 44,321  
Total Assets:                        
Total assets 741,700       865,164       $ 741,700 865,164    
Number of reportable segments | segment                 2      
Insurance recovery proceeds 0       0       $ 0 0 4,000 $ 4,000
Operating Segment | Mortgage Market                        
SEGMENT REPORTING                        
Revenue                 686,905 793,684 827,324  
Cost of revenue                 447,108 545,507 546,540  
Gross profit                 239,797 248,177 280,784  
Selling, general and administrative expenses                 85,013 114,215 121,508  
Gain on sale of business                 0      
Restructuring charges                 2,495      
Litigation settlement loss, net of $4,000 insurance recovery (Note 20)                     0  
Income (loss) from operations                 152,289 133,962 159,276  
Total other income (expense), net                 81 72 154  
Income before income taxes and non-controlling interests                 152,370 134,034 159,430  
Total Assets:                        
Total assets 236,138       304,346       236,138 304,346    
Operating Segment | Real Estate Market                        
SEGMENT REPORTING                        
Revenue                 90,290 89,787 86,590  
Cost of revenue                 102,893 96,967 64,566  
Gross profit                 (12,603) (7,180) 22,024  
Selling, general and administrative expenses                 21,561 18,718 23,291  
Gain on sale of business                 (13,688)      
Restructuring charges                 113      
Litigation settlement loss, net of $4,000 insurance recovery (Note 20)                     0  
Income (loss) from operations                 (20,589) (25,898) (1,267)  
Total other income (expense), net                 77 (4) (5)  
Income before income taxes and non-controlling interests                 (20,512) (25,902) (1,272)  
Total Assets:                        
Total assets 66,772       64,624       66,772 64,624    
Other Businesses, Corporate and Eliminations                        
SEGMENT REPORTING                        
Revenue                 61,007 58,742 83,389  
Cost of revenue                 72,164 57,391 78,939  
Gross profit                 (11,157) 1,351 4,450  
Selling, general and administrative expenses                 69,096 59,709 69,356  
Gain on sale of business                 0      
Restructuring charges                 8,952      
Litigation settlement loss, net of $4,000 insurance recovery (Note 20)                     28,000  
Income (loss) from operations                 (89,205) (58,358) (92,906)  
Total other income (expense), net                 (41,254) (14,399) (20,931)  
Income before income taxes and non-controlling interests                 (130,459) (72,757) (113,837)  
Total Assets:                        
Total assets $ 438,790       $ 496,194       $ 438,790 $ 496,194    
Insurance recovery proceeds                     $ 4,000  
[1] Effective January 1, 2018, the Company adopted Accounting Standards Update No. 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities, which requires certain equity investments to be measured at fair value with changes in fair value recognized in net income. Previously, changes in the fair value of the Company’s available for sale securities were included in comprehensive income. During the three months ended March 31, 2018, June 30, 2018, September 30, 2018 and December 31, 2018, we recognized unrealized (losses) gains from our investment in RESI common shares of $(7.5) million, $1.5 million, $1.8 million and $(8.8) million, respectively. See Note 6.
[2] In April 2018, Altisource entered into the Credit Agreement, pursuant to which, among other things, Altisource borrowed $412.0 million in the form of Term B Loans. Proceeds from the Term B Loans were used to repay the Company’s prior senior secured term loan. In connection with the refinancing, we recognized a loss of $4.4 million from the write-off of the unamortized debt issuance costs and debt discount in the second quarter of 2018. See Note 14.
[3] In August 2018, we initiated Project Catalyst, a restructuring plan intended to optimize our operations and reduce costs to align our cost structure with our anticipated revenues and improve our operating margins. During the three months ended September 30, 2018 and December 31, 2018, we incurred $3.4 million and $8.1 million, respectively, of severance costs, facility shut-down costs and professional services fees related to the restructuring plan. See Note 24.
[4] In August 2018, we sold our rental property management business to RESI for total transaction proceeds of $18.0 million, $15.0 million of which was received on the closing date of August 8, 2018 and $3.0 million of which will be received on the earlier of a RESI change of control or August 8, 2023. We recognized a $13.7 million pretax gain on the sale of this business during the third quarter of 2018. See Note 4.
[5] In November 2018, the Company announced its plans to sell its BRS Inventory and discontinue the Company’s BRS business. The Company recorded a write-off of goodwill related to its plan to discontinue the BRS business of $2.6 million during the three months ended December 31, 2018. See Notes 9 and 11.
[6] In connection with a United States Supreme Court decision in June 2018, the Company is analyzing its services for potential exposure to sales tax in various jurisdictions in the United States and believes that the Company has a related estimated probable loss of $6.2 million. The Company recognized $5.9 million and $0.4 million during the three months ended September 30, 2018 and December 31, 2018, respectively. See Note 25.
[7] The sum of quarterly amounts, including per share amounts, may not equal amounts reported for year-to-date periods. This is due to the effects of rounding and changes in the number of weighted average shares outstanding for each period.
[8] During the three months ended December, 31, 2017, the Company recognized net tax benefits of $284.1 million. On December 27, 2017, two of the Company’s wholly-owned subsidiaries, Altisource Solutions S.à r.l. and Altisource Holdings S.à r.l., merged, with Altisource Holdings S.à r.l. as the surviving entity. For Luxembourg tax purposes, the merger was recognized at fair value and generated an NOL of $1.3 billion and a deferred tax asset, net of valuation allowance, of $300.9 million. This deferred tax benefit was partially offset by $6.3 million of income tax from changes in U.S. and Luxembourg income tax rates and a $10.5 million increase in certain foreign income tax reserves (and related interest). See Note 22.