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Schedule II
 12 Months Ended
Dec. 31, 2022
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, 2022 AND 2021
(in thousands)20222021
Assets  
Cash and cash equivalents$3,450 $584 
Fixed maturity securities, available-for-sale, at fair value
5,900 2,222 
Equity securities, at fair value
325 5,946 
Short-term investments
64,832 23,637 
Investments in affiliated companies
159,700 188,698 
Other investments
6,703 7,840 
Prepaid expenses and other receivables3,864 5,113 
Current income taxes receivable2,799 — 
Accrued interest and dividends185 32 
Property, net1,691 1,665 
Total Assets$249,449 $235,737 
Liabilities and Shareholders’ Equity  
Liabilities:  
Accounts payable and accrued liabilities$7,726 $4,514 
Current income taxes payable— 433 
Deferred income taxes, net712 1,703 
Total liabilities8,438 6,650 
Shareholders’ Equity:  
Preferred stock (1,000 authorized shares; no shares issued)
— — 
Common stock – no par value (10,000 authorized shares; 1,897 and 1,895 shares issued and outstanding as of December 31, 2022 and 2021, respectively, excluding in each period 292 shares of common stock held by the Company)
— — 
Retained earnings240,811 225,861 
Accumulated other comprehensive income 200 3,226 
Total shareholders’ equity241,011 229,087 
Total Liabilities and Shareholders’ Equity$249,449 $235,737 

Refer to the Notes to Condensed Financial Statements.
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
STATEMENTS OF OPERATIONS
FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021
(in thousands, except per share amounts)20222021
Revenues:  
Interest and dividends$990 $376 
Net realized investment gains2,680 1,050 
Changes in the estimated fair value of equity security investments(3,419)1,182 
Rental income869 734 
Gain on disposals of property— 3,937 
Miscellaneous income305 2,015 
Total Revenues1,425 9,294 
Operating Expenses:  
Personnel expenses947 1,039 
Office and technology expenses447 407 
Other expenses936 882 
Total Operating Expenses2,330 2,328 
Equity in Net Income of Affiliated Companies24,584 61,372 
Income before Income Taxes23,679 68,338 
(Benefit) Provision for Income Taxes(224)1,318 
Net Income$23,903 $67,020 
Basic Earnings per Common Share$12.60 $35.38 
Weighted Average Shares Outstanding – Basic1,897 1,894 
Diluted Earnings per Common Share$12.59 $35.28 
Weighted Average Shares Outstanding – Diluted1,898 1,900 

Refer to the Notes to Condensed Financial Statements.
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021
(in thousands)20222021
Operating Activities  
Net income$23,903 $67,020 
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in net earnings of subsidiaries(24,584)(61,372)
Depreciation115 110 
Amortization, net(272)(51)
Share-based compensation expense related to stock appreciation rights362 299 
Net realized gains on disposal of property— (3,937)
Net realized gains on securities(3,076)(92)
Net realized losses (gains) on other investments396 (958)
Changes in the estimated fair value of equity security investments3,419 (1,182)
Net losses (earnings) from other investments11 (238)
(Benefit) provision for deferred income taxes(927)1,214 
Decrease (increase) in receivables1,249 (2,660)
(Increase) decrease in current income taxes receivable(2,799)2,487 
(Increase) decrease in other assets(153)175 
(Decrease) increase in current income taxes payable(433)433 
Increase in accounts payable and accrued liabilities3,212 2,201 
Net cash provided by operating activities423 3,449 
Investing Activities  
Dividends received from subsidiaries55,643 30,651 
Purchases of fixed maturity and equity securities(3,851)(631)
Purchases of short-term securities(64,513)(21,345)
Purchases of and net earnings from other investments(46)(5,050)
Proceeds from sales and maturities of fixed maturity and equity securities5,278 25,512 
Proceeds from sales and maturities of short-term securities23,487 3,028 
Proceeds from sales and distributions of other investments776 1,651 
Proceeds from sales of other assets— 958 
Purchases of property(201)— 
Proceeds from disposals of property60 4,585 
Net cash provided by investing activities16,633 39,359 
Financing Activities  
Repurchases of common stock(133)— 
Exercise of stock appreciation rights(1)(1)
Capital contribution to subsidiaries(4,875)(8,350)
Dividends paid(9,181)(37,553)
Net cash used in financing activities(14,190)(45,904)
Net Increase (Decrease) in Cash and Cash Equivalents2,866 (3,096)
Cash and Cash Equivalents, Beginning of Period584 3,680 
Cash and Cash Equivalents, End of Period$3,450 $584 
Supplemental Disclosures:
Income tax payments, net$15,186 $10,156 

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, 2022 AND 2021
(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:
Subsidiaries20222021
Investors Title Insurance Company, net*$48,243 $28,401 
Investors Title Exchange Corporation4,300 1,350 
Investors Title Accommodation Corporation100 50 
Investors Trust Company400 500 
Investors Title Commercial Agency, LLC2,600 350 
Total$55,643 $30,651 
* Total dividends of $49,655 and $34,182 paid to the Parent Company in 2022 and 2021, respectively, netted with dividends of $1,412 and $5,781 received from the Parent Company in 2022 and 2021, respectively.