Discontinued Operations

9 Months Ended

Sep. 30, 2012

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

As of August 31, 2012, we completed the disposition of American Driving Records within our transportation services business for $11.0 million, which resulted in a pre-tax gain of $3.9 million for the three and nine months ended September 30, 2012. This gain is included in gain/(loss) from sale of discontinued operations, net of tax in the accompanying condensed consolidated statements of income. In June 2012, we determined to wind down our wholly-owned consumer services business in lieu of a sale. In March 2012, we determined to wind down our wholly-owned appraisal management company business in lieu of a sale which resulted in a pre-tax write-down of the remaining goodwill of $13.9 million in the first quarter of 2012. In September 2011, we closed our marketing services business (LeadClick). In connection with preparing our three and nine months ended September 30, 2012 financial statements, we recorded an additional adjustment of approximately $4.1 million income tax expense associated with the closure of LeadClick as discussed in Note 1 - Basis for Consolidated Condensed Financial Statements. On December 2010, we entered into a purchase agreement with an affiliate of Symphony Technology Group, pursuant to which we sold our employer and litigation services businesses. For the three and nine months ended September 30, 2012, we recorded a gain of $12.3 million and a loss of $9.3 million on sale of discontinued operations, net, respectively.

Each of these businesses is reflected in our consolidated financial statements as discontinued operations and the results of these businesses in the prior years have been recast to conform to the 2012 presentation.

Summarized below are certain assets and liabilities classified as discontinued operations as of September 30, 2012 and December 31, 2011:

(in thousands)	Data Analytics					Mortgage Origination		Default
As of September 30, 2012	Marketing			Consumer		Appraisal		Transportation		Total
Current assets	$	(269	)	$	7,200	$	359	$	16	$	7,306
Property and equipment, net	—			83		306		—		389
Other assets	40			2,081		—		—		2,121
Total assets	$	(229	)	$	9,364	$	665	$	16	$	9,816
Total liabilities	$	1,411		$	5,572	$	12,146	$	683	$	19,812
As of December 31, 2011
Current assets	$	3,380		$	14,833	$	1,038	$	13,252	$	32,503
Property and equipment, net	—			114		911		1,967		2,992
Goodwill and other identifiable intangible assets, net	—			2,109		13,959		3,845		19,913
Other assets	—			—		—		108		108
Total assets	$	3,380		$	17,056	$	15,908	$	19,172	$	55,516
Total liabilities	$	(2,210	)	$	11,849	$	10,907	$	6,853	$	27,399

Summarized below are the components of our income/(loss) from discontinued operations for the three months ended September 30, 2012 and 2011:

(in thousands)	Data and Analytics						Mortgage Origination			Default
For the three months ended September 30, 2012	Marketing			Consumer			Appraisal			Transportation			Total
Operating revenue	$	—		$	8,410		$	6,938		$	11,643		$	26,991
(Loss)/income from discontinued operations before income taxes	(66		)	(348		)	(7,121		)	24			(7,511		)
Income tax expense/(benefit)	3,972			(122		)	(1,199		)	(5		)	2,646
(Loss)/income from discontinued operations, net of tax	$	(4,038	)	$	(226	)	$	(5,922	)	$	29		$	(10,157	)
For the three months ended September 30, 2011
Operating revenue	$	6,431		$	22,877		$	12,463		$	16,838		$	58,609
(Loss)/income from discontinued operations before income taxes	(152,675		)	(13,384		)	(3,066		)	157			(168,968		)
Income tax (benefit)/expense	(58,300		)	(5,318		)	(1,188		)	58			(64,748		)
(Loss)/income from discontinued operations, net of tax	$	(94,375	)	$	(8,066	)	$	(1,878	)	$	99		$	(104,220	)

Summarized below are the components of our income/(loss) from discontinued operations for the nine months ended September 30, 2012 and 2011:

	Data and Analytics						Business Information
For the nine months ended September 30, 2012	Marketing			Consumer			Transportation			Appraisal			Total
Operating revenue	$	—		$	55,773		$	46,435		$	25,137		$	127,345
Income/(loss) from discontinued operations before income taxes	111			5,177			(1,707		)	(23,675		)	(20,094		)
Income tax expense/(benefit)	4,041			2,030			(1,780		)	(6,243		)	(1,952		)
(Loss)/income from discontinued operations, net of tax	$	(3,930	)	$	3,147		$	73		$	(17,432	)	$	(18,142	)
For the nine months ended September 30, 2011
Operating revenue	$	29,399		$	73,443		$	51,448		$	60,012		$	214,302
(Loss)/income from discontinued operations before income taxes	(166,342		)	(7,603		)	1,210			(7,741		)	(180,476		)
Income tax (benefit)/expense	(63,768		)	(3,004		)	479			(3,058		)	(69,351		)
(Loss)/income from discontinued operations, net of tax	$	(102,574	)	$	(4,599	)	$	731		$	(4,683	)	$	(111,125	)