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CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Title insurance:        
Direct operations $ 237,017 $ 243,209 $ 423,018 $ 433,020
Agency operations 225,416 249,461 450,051 462,650
Ancillary services 21,182 34,182 43,217 74,954
Investment income 4,856 4,665 9,926 8,614
Investment and other gains – net 966 389 1,454 1,540
Total revenues 489,437 531,906 927,666 980,778
Expenses        
Amounts retained by agencies 183,485 204,437 367,329 380,237
Employee costs 152,427 171,078 302,636 333,574
Other operating expenses 86,458 98,022 174,168 186,796
Title losses and related claims 17,153 19,577 40,247 52,711
Depreciation and amortization 7,340 7,274 15,646 14,379
Interest 661 486 1,440 924
Total expenses 447,524 500,874 901,466 968,621
Income before taxes and noncontrolling interests 41,913 31,032 26,200 12,157
Income tax expense 14,386 10,407 7,738 2,876
Net income 27,527 20,625 18,462 9,281
Less net income attributable to noncontrolling interests 3,928 3,519 6,058 4,623
Net income attributable to Stewart 23,599 17,106 12,404 4,658
Net income attributable to Stewart        
Net income 27,527 20,625 18,462 9,281
Other comprehensive income (loss), net of taxes:        
Foreign currency translation adjustments (1,703) 2,243 1,592 (4,256)
Change in net unrealized gains on investments 6,182 (6,700) 11,971 (3,941)
Reclassification of adjustment for gains included in net loss (115) (131) (179) (782)
Other comprehensive income (loss), net of taxes: 4,364 (4,588) 13,384 (8,979)
Comprehensive income 31,891 16,037 31,846 302
Less net income attributable to noncontrolling interests 3,928 3,519 6,058 4,623
Comprehensive income (loss) attributable to Stewart $ 27,963 $ 12,518 $ 25,788 $ (4,321)
Basic average shares outstanding (000) 23,365 23,624 23,357 23,806
Basic earnings per share attributable to Stewart (in usd per share) $ 0.50 $ 0.72 $ 0.02 $ 0.20
Diluted average shares outstanding (000) 23,559 23,795 23,542 23,975
Diluted earnings per share attributable to Stewart (in usd per share) $ 0.49 $ 0.72 $ 0.02 $ 0.19