| Summary of Segment Information |
The following tables summarize segment information for the quarters ended December 31, 2021 and 2020: | | | | | | | | | | | | | | | | | | | | | | | | | | Quarter Ended December 31, 2021 | | | Scores | | Software | | Unallocated
Corporate
Expenses | | Total | | | (In thousands) | | Segment revenues: | | | | | | | | | On-premises and SaaS software | $ | — | | | $ | 126,338 | | | $ | — | | | $ | 126,338 | | | Professional services | — | | | 26,536 | | | — | | | 26,536 | | | Scores | 169,487 | | | — | | | — | | | 169,487 | | | Total segment revenues | 169,487 | | | 152,874 | | | — | | | 322,361 | | | Segment operating expense | (21,984) | | | (118,581) | | | (35,788) | | | (176,353) | | | Segment operating income | $ | 147,503 | | | $ | 34,293 | | | $ | (35,788) | | | 146,008 | | | Unallocated share-based compensation expense | | | | | | | (29,878) | | | Unallocated amortization expense | | | | | | | (544) | | | | | | | | | | | | | | | | | | | Operating income | | | | | | | 115,586 | | | Unallocated interest expense, net | | | | | | | (12,195) | | | Unallocated other income, net | | | | | | | 1,429 | | | Income before income taxes | | | | | | | $ | 104,820 | | | Depreciation expense | $ | 192 | | | $ | 3,877 | | | $ | 29 | | | $ | 4,098 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Quarter Ended December 31, 2020 | | | Scores | | Software | | Unallocated
Corporate
Expenses | | Total | | | (In thousands) | | Segment revenues: | | | | | | | | | On-premises and SaaS software | $ | — | | | $ | 126,455 | | | $ | — | | | $ | 126,455 | | | Professional services | — | | | 41,308 | | | — | | | 41,308 | | | Scores | 144,651 | | | — | | | — | | | 144,651 | | | Total segment revenues | 144,651 | | | 167,763 | | | — | | | 312,414 | | | Segment operating expense | (21,626) | | | (147,079) | | | (30,253) | | | (198,958) | | | Segment operating income | $ | 123,025 | | | $ | 20,684 | | | $ | (30,253) | | | 113,456 | | | Unallocated share-based compensation expense | | | | | | | (25,132) | | | Unallocated amortization expense | | | | | | | (937) | | | Unallocated gains on product line asset sales and business divestiture | | | | | | | 7,334 | | | Operating income | | | | | | | 94,721 | | | Unallocated interest expense, net | | | | | | | (9,641) | | | Unallocated other income, net | | | | | | | 2,880 | | | Income before income taxes | | | | | | | $ | 87,960 | | | Depreciation expense | $ | 194 | | | $ | 5,358 | | | $ | 33 | | | $ | 5,585 | |
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| Disaggregation of Revenue |
The following tables provide information about disaggregated revenue by primary geographical market:
| | | | | | | | | | | | | | | | | | | | | | | | | Quarter Ended December 31, 2021 | | Scores | | Software | | Total | | Percentage | | (Dollars in thousands) | | Americas | $ | 165,712 | | | $ | 99,185 | | | $ | 264,897 | | | 82 | % | | Europe, Middle East and Africa | 1,493 | | | 37,398 | | | 38,891 | | | 12 | % | | Asia Pacific | 2,282 | | | 16,291 | | | 18,573 | | | 6 | % | | Total | $ | 169,487 | | | $ | 152,874 | | | $ | 322,361 | | | 100 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | Quarter Ended December 31, 2020 | | Scores | | Software | | Total | | Percentage | | (Dollars in thousands) | | Americas | $ | 140,713 | | | $ | 108,024 | | | $ | 248,737 | | | 79 | % | | Europe, Middle East and Africa | 1,713 | | | 43,678 | | | 45,391 | | | 15 | % | | Asia Pacific | 2,225 | | | 16,061 | | | 18,286 | | | 6 | % | | Total | $ | 144,651 | | | $ | 167,763 | | | $ | 312,414 | | | 100 | % |
The following table provides information about disaggregated revenue for our Software segment by deployment method: | | | | | | | | | | | | | | | | | | | | | | | | | Quarter Ended December 31, | | Percentage of revenues | | 2021 | | 2020 | | 2021 | | 2020 | | (Dollars in thousands) | | On-premises software | $ | 57,295 | | | $ | 66,482 | | | 45 | % | | 53 | % | | SaaS software | 69,043 | | | 59,973 | | | 55 | % | | 47 | % | | Total | $ | 126,338 | | | $ | 126,455 | | | 100 | % | | 100 | % |
The following table provides information about disaggregated revenue for our Software segment by product features: | | | | | | | | | | | | | | | | | | | | | | | | | Quarter Ended December 31, | | Percentage of revenues | | 2021 | | 2020 | | 2021 | | 2020 | | (Dollars in thousands) | | Platform software (*) | $ | 22,072 | | | $ | 14,125 | | | 17 | % | | 11 | % | | Non-platform software | 104,266 | | | 112,330 | | | 83 | % | | 89 | % | | Total | $ | 126,338 | | | $ | 126,455 | | | 100 | % | | 100 | % |
(*) The FICO platform software is a set of interoperable services which use software assets owned and/or governed by FICO for building solutions and which conform to FICO architectural standards based on key elements of Cloud Native Computing design principles. These standards encompass shared security context and pre-integration using FICO standard application programming interfaces for all services. The following table provides information about disaggregated revenue for our Software segment by timing of revenue recognition:
| | | | | | | | | | | | | | | | | | | | | | | | | Quarter Ended December 31, | | Percentage of revenues | | 2021 | | 2020 | | 2021 | | 2020 | | (Dollars in thousands) | Software recognized at a point time (1) | $ | 7,159 | | | $ | 12,894 | | | 6 | % | | 10 | % | Software recognized over contract term (2) | 119,179 | | | 113,561 | | | 94 | % | | 90 | % | | Total | $ | 126,338 | | | $ | 126,455 | | | 100 | % | | 100 | % |
(1)Includes license portion of our on-premises subscription software and perpetual license, both of which are recognized when the software is made available to the customer, or at the start of the subscription. (2)Includes maintenance portion and usage-based fees of our on-premises subscription software, maintenance revenue on perpetual licenses, as well as SaaS revenue. The following table provides information about disaggregated revenue for our Scores segment by distribution method:
| | | | | | | | | | | | | | | | | | | | | | | | | Quarter Ended December 31, | | Percentage of revenues | | 2021 | | 2020 | | 2021 | | 2020 | | (Dollars in thousands) | | Business-to-business Scores | $ | 112,968 | | | $ | 100,144 | | | 67 | % | | 69 | % | | Business-to-consumer Scores | 56,519 | | | 44,507 | | | 33 | % | | 31 | % | | Total | $ | 169,487 | | | $ | 144,651 | | | 100 | % | | 100 | % |
We derive a substantial portion of revenues from our contracts with the three major consumer reporting agencies, TransUnion, Equifax and Experian. Revenues collectively generated by agreements with these customers accounted for 38% and 34% of our total revenues in the quarters ended December 31, 2021 and 2020, respectively, with two consumer reporting agencies each contributing more than 10% of our total revenues in each of the quarters ended December 31, 2021 and 2020.
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