Segment Information | Segment Information We have organized our reportable segments into the following two segments: PI and RMW. Property Intelligence . Our PI segment owns or licenses real property information, mortgage information and consumer information, which includes loan information, property sales and characteristic information, property risk and replacement cost, natural hazard data, geospatial data, parcel maps, and mortgage-backed securities information. We have also developed proprietary technology and software platforms to access, automate or track this information and assist our clients with compliance regulations. We deliver this information directly to our clients in a standard format over the web, through customizable software platforms or in bulk data form. Our solutions include data licensing and analytics, data-enabled advisory services, platform solutions and valuation solutions in North America, Western Europe and Asia Pacific. The segment's primary clients are commercial banks, mortgage lenders and brokers, investment banks, fixed-income investors, real estate agents, MLS companies, property and casualty insurance companies, title insurance companies, government agencies and government-sponsored enterprises. Our PI segment includes intercompany revenues of $5.5 million , $5.5 million , and $4.3 million for the years ended December 31, 2016 , 2015 and 2014 , respectively; and intercompany expenses of $4.6 million , $4.8 million and $5.6 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. Risk Management and Work Flow. Our RMW segment owns or licenses real property information, mortgage information and consumer information, which includes loan information, property sales and characteristic information, natural hazard data, parcel maps, employment verification, criminal records and eviction records. We have also developed proprietary technology and software platforms to access, automate or track this information and assist our clients with compliance regulations. Our solutions include credit and screening, property tax processing, flood data services and technology solutions in North America. The segment’s primary clients are large, national mortgage lenders and servicers, but we also serve regional mortgage lenders and brokers, credit unions, commercial banks, fixed-income investors, government agencies and casualty insurance companies. Our RMW segment includes intercompany revenues of $4.6 million , $4.8 million , and $5.5 million for the years ended December 31, 2016 , 2015 and 2014 , respectively; and intercompany expenses of $5.5 million , $5.5 million and $4.3 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. We also separately report on our corporate and eliminations. Corporate consists primarily of corporate personnel and other expenses associated with our corporate functions and facilities, investment gains and losses, equity in earnings of affiliates, net of tax, and interest expense. It is impracticable to disclose revenues from external clients for each product and service offered. Selected segment financial information is as follows: (in thousands) For the Year Ended December 31, 2016 PI RMW Corporate Eliminations Consolidated (Excluding Discontinued Operations) Operating revenue $ 1,053,544 $ 909,100 $ 12 $ (10,099 ) $ 1,952,557 Depreciation and amortization $ 126,367 $ 28,652 $ 17,559 $ — $ 172,578 Operating income/(loss) $ 101,272 $ 252,998 $ (79,681 ) $ — $ 274,589 Equity in earnings/(loss) of affiliates, net of tax $ 1,588 $ — $ (1,092 ) $ — $ 496 Net income/(loss) from continuing operations $ 90,119 $ 252,997 $ (233,170 ) $ — $ 109,946 Capital expenditures $ 49,900 $ 12,268 $ 18,550 $ — $ 80,718 For the Year Ended December 31, 2015 Operating revenue $ 663,344 $ 875,057 $ 39 $ (10,330 ) $ 1,528,110 Depreciation and amortization $ 96,766 $ 37,493 $ 16,118 $ — $ 150,377 Operating income/(loss) $ 72,761 $ 216,178 $ (86,015 ) $ — $ 202,924 Equity in earnings/(loss) of affiliates, net of tax $ 22,622 $ — $ (8,902 ) $ — $ 13,720 Net income/(loss) from continuing operations $ 94,522 $ 216,147 $ (181,117 ) $ — $ 129,552 Capital expenditures $ 48,902 $ 12,714 $ 18,942 $ — $ 80,558 For the Year Ended December 31, 2014 Operating revenue $ 598,113 $ 816,717 $ 31 $ (9,821 ) $ 1,405,040 Depreciation and amortization $ 95,049 $ 34,253 $ 14,062 $ — $ 143,364 Operating income/(loss) $ 70,181 $ 166,640 $ (67,063 ) $ — $ 169,758 Equity in earnings/(loss) of affiliates, net of tax $ 22,949 $ — $ (8,829 ) $ — $ 14,120 Net income/(loss) from continuing operations $ 100,070 $ 166,631 $ (163,728 ) $ (11,965 ) $ 91,008 Capital expenditures $ 48,535 $ 16,184 $ 22,435 $ — $ 87,154 (in thousands) As of December 31, 2016 PI RMW Corporate Eliminations Consolidated (Excluding Discontinued Operations) Investment in affiliates, net $ 35,810 $ — $ 4,999 $ — $ 40,809 Long-lived assets $ 2,265,094 $ 1,165,369 $ 5,510,684 $ (5,425,500 ) $ 3,515,647 Total assets $ 2,429,167 $ 1,328,008 $ 5,575,846 $ (5,426,149 ) $ 3,906,872 As of December 31, 2015 Investment in affiliates, net $ 61,765 $ — $ 7,440 $ — $ 69,205 Long-lived assets $ 1,856,410 $ 1,183,318 $ 5,112,243 $ (5,020,521 ) $ 3,131,450 Total assets $ 2,058,412 $ 1,316,785 $ 5,318,990 $ (5,021,152 ) $ 3,673,035 Operating revenue is attributed to countries based on location of the revenue-generating business. Operating revenue separated between domestic and foreign operations and by segment is as follows: Year Ended December 31, (in thousands) 2016 2015 2014 Domestic Foreign Domestic Foreign Domestic Foreign PI $ 907,133 $ 146,411 $ 535,405 $ 127,939 $ 460,370 $ 137,743 RMW 909,065 35 872,319 2,738 813,401 3,316 Corporate — 12 — 39 — 31 Eliminations (10,099 ) — (10,330 ) — (9,821 ) — Consolidated $ 1,806,099 $ 146,458 $ 1,397,394 $ 130,716 $ 1,263,950 $ 141,090 Long-lived assets separated between domestic and foreign operations and by segment are as follows: As of December 31, (in thousands) 2016 2015 Domestic Foreign Domestic Foreign PI $ 1,947,648 $ 317,446 $ 1,536,133 $ 320,277 RMW 1,165,369 — 1,183,305 13 Corporate 4,764,740 745,944 4,366,304 745,939 Eliminations (4,679,560 ) (745,940 ) (4,274,582 ) (745,939 ) Consolidated (excluding assets for discontinued operations) $ 3,198,197 $ 317,450 $ 2,811,160 $ 320,290 |