Goodwill and other intangibles

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and other intangibles. The summary of changes in goodwill is as follows:



	Title		Ancillary Services and Corporate		Total
	($000 omitted)
Balances at January 1, 2016	211,255		6,467		217,722
Acquisitions	300		—		300
Disposals	(190	)	(738	)	(928	)
Balances at December 31, 2016	211,365		5,729		217,094
Acquisitions	14,419		—		14,419
Disposals	(85	)	—		(85	)
Balances at December 31, 2017	225,699		5,729		231,428

The Company evaluates goodwill for impairment annually based on information as of June 30 of the current year or more frequently if circumstances suggest that impairment may exist. In 2017 and 2016, the Company determined that it was more likely than not that goodwill related to all of its reporting units was not impaired. For its impairment analysis, the Company performed a qualitative assessment in 2017 and utilized a quantitative analysis in 2016.

During 2017, the Company acquired certain title businesses primarily funded by borrowings on the Company's unsecured line of credit. As a result of these acquisitions, the Company increased its goodwill related to the title segment by a total of $14.4 million, which is deductible in full for income tax purposes over a period of 15 years. Also, in connection with the acquisitions, the Company identified and recorded $2.6 million of other intangibles, primarily related to acquired software to be amortized over 5 years from the date of acquisition.

The gross carrying amount, and accumulated amortization and impairment of other intangibles was $30.5 million and $20.8 million, respectively, at December 31, 2017 and $27.9 million and $17.0 million, respectively, at December 31, 2016. During 2016, other intangible assets with total gross carrying amounts and accumulated amortization and impairment of $11.2 million and $9.1 million, respectively, were written off as part of the sale of certain businesses within the Company's ancillary services operations.

The amortization expense recorded for the Company's other intangible assets was $3.8 million and $5.5 million in 2017 and 2016, respectively. The annual amortization expense expected to be recognized in the next five years is approximately $3.4 million in 2018, $2.5 million in 2019, $1.5 million in 2020, $0.9 million in 2021 and $0.4 million in 2022.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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