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Schedule II
 12 Months Ended
Dec. 31, 2021
Condensed Financial Information Disclosure [Abstract]  
Condensed Financial Information of Parent Company Only Disclosure [Text Block]
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
BALANCE SHEETS
AS OF DECEMBER 31, 2021 AND 2020
(in thousands)20212020
Assets  
Cash and cash equivalents$584 $3,680 
Fixed maturity securities, available-for-sale, at fair value
2,222 27,311 
Equity securities, at fair value
5,946 4,554 
Short-term investments
23,637 5,318 
Investments in affiliated companies
188,698 150,620 
Other investments
7,840 4,215 
Prepaid expenses and other receivables5,113 2,453 
Current income taxes receivable— 2,487 
Accrued interest and dividends32 207 
Property, net1,665 2,410 
Total Assets$235,737 $203,255 
Liabilities and Shareholders’ Equity  
Liabilities:  
Accounts payable and accrued liabilities$4,514 $2,313 
Current income taxes payable433 — 
Deferred income taxes, net1,703 520 
Total liabilities6,650 2,833 
Shareholders’ Equity:  
Preferred stock (1,000 authorized shares; no shares issued)
— — 
Common stock – no par value (10,000 authorized shares; 1,895 and 1,892 shares issued and outstanding as of December 31, 2021 and 2020, respectively, excluding in each period 292 shares of common stock held by the Company)
— — 
Retained earnings225,861 196,096 
Accumulated other comprehensive income3,226 4,326 
Total shareholders’ equity229,087 200,422 
Total Liabilities and Shareholders’ Equity$235,737 $203,255 

Refer to the Notes to Condensed Financial Statements.
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
STATEMENTS OF OPERATIONS
FOR THE YEARS ENDED DECEMBER 31, 2021 AND 2020
(in thousands, except per share amounts)20212020
Revenues:  
Interest and dividends$376 $768 
Net realized investment gains (losses)1,050 (473)
Changes in the estimated fair value of equity security investments1,182 265 
Rental income734 702 
Gain on disposals of property3,937 — 
Miscellaneous income2,015 392 
Total Revenues9,294 1,654 
Operating Expenses:  
Personnel expenses1,039 908 
Office and technology expenses407 360 
Other expenses882 1,003 
Total Operating Expenses2,328 2,271 
Equity in Net Income of Affiliated Companies61,372 39,685 
Income before Income Taxes68,338 39,068 
Provision (Benefit) for Income Taxes1,318 (352)
Net Income$67,020 $39,420 
Basic Earnings per Common Share$35.38 $20.84 
Weighted Average Shares Outstanding – Basic1,894 1,892 
Diluted Earnings per Common Share$35.28 $20.80 
Weighted Average Shares Outstanding – Diluted1,900 1,896 

Refer to the Notes to Condensed Financial Statements.
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2021 AND 2020
(in thousands)20212020
Operating Activities  
Net income$67,020 $39,420 
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Equity in net earnings of subsidiaries(61,372)(39,685)
Depreciation110 99 
Amortization, net(51)198 
Share-based compensation expense related to stock appreciation rights299 229 
Net gain on disposals of property(3,937)— 
Net realized investment (gains) losses(92)495 
Net realized gain on other investments(958)(22)
Changes in the estimated fair value of equity security investments(1,182)(265)
Net earnings from other investments(238)(90)
Provision for deferred income taxes1,214 73 
Increase in receivables(2,660)(147)
Decrease (increase) in income taxes receivable2,487 (1,701)
Decrease in other assets175 114 
Increase in current income taxes payable433 — 
Increase (decrease) in accounts payable and accrued liabilities2,201 (158)
Net cash provided by (used in) operating activities3,449 (1,440)
Investing Activities  
Dividends received from subsidiaries30,651 24,043 
Purchases of fixed maturity and equity securities(631)(691)
Purchases of short-term securities(21,345)(7,590)
Purchases of and net earnings from other investments(5,050)(97)
Proceeds from sales and maturities of fixed maturity and equity securities25,512 6,179 
Proceeds from sales and maturities of short-term securities3,028 6,081 
Proceeds from sales and distributions of other investments1,651 440 
Proceeds from sales of other assets958 22 
Purchases of property— (97)
Proceeds from disposals of property4,585 — 
Net cash provided by investing activities39,359 28,290 
Financing Activities  
Repurchases of common stock— (6)
Exercise of stock appreciation rights(1)1 
Capital contribution to subsidiaries(8,350)(1,100)
Dividends paid(37,553)(31,716)
Net cash used in financing activities(45,904)(32,821)
Net Decrease in Cash and Cash Equivalents(3,096)(5,971)
Cash and Cash Equivalents, Beginning of Period3,680 9,651 
Cash and Cash Equivalents, End of Period$584 $3,680 
Supplemental Disclosures:
Income tax payments, net$10,156 $10,113 

Refer to the Notes to Condensed Financial Statements.
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
NOTES TO THE CONDENSED FINANCIAL STATEMENTS
FOR THE YEARS ENDED DECEMBER 31, 2021 AND 2020
(in thousands)


1.The accompanying Condensed Financial Statements should be read in conjunction with the Consolidated Financial Statements and notes thereto of Investors Title Company and Subsidiaries.

2.Cash dividends paid to Investors Title Company by its wholly owned subsidiaries were as follows:
Subsidiaries20212020
Investors Title Insurance Company, net*$28,401 $20,443 
Investors Title Exchange Corporation1,350 2,000 
Investors Title Accommodation Corporation50 — 
Investors Trust Company500 500 
Investors Title Commercial Agency, LLC350 700 
National Investors Holdings, LLC— 400 
Total$30,651 $24,043 
* Total dividends of $34,182 and $25,331 paid to the Parent Company in 2021 and 2020, respectively, netted with dividends of $5,781 and $4,888 received from the Parent Company in 2021 and 2020, respectively.