Discontinued Operations

12 Months Ended

Dec. 31, 2017

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

In September 2014, we completed the sale of our collateral solutions and field services businesses, which were included in the former reporting segment Asset Management and Processing Solutions ("AMPS"). In September 2012, we completed the wind down of our consumer services business and our appraisal management company business, which were included in our PIRM and UWS segments, respectively. In September 2011, we closed our marketing services business, which was included in our PIRM segment. In December 2010, we completed the sale of our Employer and Litigation Services businesses ("ELI").

In connection with previous divestitures, we retain the prospect of contingent liabilities for indemnification obligations or breaches of representations or warranties. With respect to one such divestiture, in September 2016, a jury returned an unfavorable verdict against a discontinued operating unit that, if upheld on appeal, could result in indemnification exposure up to $25.0 million, including interest. We do not consider this outcome to be probable and intend to vigorously assert our contractual and other rights, including to pursue an appeal to eliminate or substantially reduce any potential post-divestiture contingency. Any actual liability that comes to fruition would be reflected in our results from discontinued operations.

Each of these businesses is reflected in our accompanying consolidated financial statements as discontinued operations and the results of these businesses in the prior years have been recast to conform to the 2017 presentation. For the year ended December 31, 2017, we recorded a gain of $4.5 million related to a pre-tax legal settlement in AMPS within our discontinued operations.

For the year ended December 31, 2017, we recorded a $0.3 million gain on the sale of discontinued operations, net of tax, primarily related to a settlement within our Asset Management and Processing Solutions ("AMPS") segment. For the year ended December 31, 2016, we recorded a $1.9 million loss on the sale of discontinued operations, net of tax, primarily due to transaction payments under an amendment to the sale agreement of collateral solutions and field services businesses.

Summarized below are certain assets and liabilities classified as discontinued operations as of December 31, 2017 and 2016:

(in thousands)
As of December 31, 2017	PIRM		UWS			ELI		AMPS		Total
Deferred income tax asset and other current assets	$	325	$	(231	)	$	21	$	268	$	383
Accounts payable and accrued expenses	$	12	$	154		$	8	$	1,632	$	1,806
As of December 31, 2016
Deferred income tax asset, current	$	325	$	(231	)	$	—	$	568	$	662
Accounts payable, accrued expenses and other liabilities	$	202	$	167		$	624	$	2,130	$	3,123

Summarized below are the components of our income/(loss) from discontinued operations, net of tax for the years ended December 31, 2017, 2016 and 2015:

(in thousands)
For the Year Ended December 31, 2017	PIRM			UWS			ELI			AMPS			Total
Operating revenue	$	—		$	—		$	—		$	—		$	—
Income/(loss) from discontinued operations before income taxes	205			6			(614		)	4,154			3,751
Provision/(benefit) for income taxes	78			2			(233		)	1,589			1,436
Income/(loss) from discontinued operations, net of tax	$	127		$	4		$	(381	)	$	2,565		$	2,315
For the Year Ended December 31, 2016
Operating revenue	$	—		$	—		$	—		$	—		$	—
(Loss)/income from discontinued operations before income taxes	(37		)	142			(1,600		)	(890		)	(2,385		)
(Benefit)/Provision for income taxes	(14		)	50			(612		)	(343		)	(919		)
(Loss)/income from discontinued operations, net of tax	$	(23	)	$	92		$	(988	)	$	(547	)	$	(1,466	)
For the Year Ended December 31, 2015
Operating revenue	$	—		$	—		$	—		$	—		$	—
Loss from discontinued operations, net of tax	(650		)	(20		)	—			(230		)	(900		)
Benefit for income taxes	(204		)	(52		)	—			(88		)	(344		)
Income/(loss), net of tax	(446		)	32			—			(142		)	(556		)
Less:  Net income attributable to noncontrolling interests	—						—			—			—
(Loss)/income from discontinued operations, net of tax	$	(446	)	$	32		$	—		$	(142	)	$	(556	)