XML 19 R2.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Title insurance:      
Direct operations $ 862,392 $ 894,313 $ 897,118
Agency operations 1,016,356 1,009,797 991,332
Ancillary services 55,837 84,271 129,954
Operating revenues 1,934,585 1,988,381 2,018,404
Investment income 18,932 18,925 16,850
Realized investment and other gains (losses) – net 2,207 (666) (1,369)
Total revenues 1,955,724 2,006,640 2,033,885
Expenses      
Amounts retained by agencies 837,100 826,022 809,564
Employee costs 566,178 604,353 658,266
Other operating expenses 351,511 363,986 381,954
Title losses and related claims 96,532 91,147 106,265
Impairment of goodwill 0 0 35,749
Depreciation and amortization 25,878 30,044 30,298
Interest 3,458 3,062 2,096
Total expenses 1,880,657 1,918,614 2,024,192
Income before taxes and noncontrolling interests 75,067 88,026 9,693
Income tax expense 14,921 19,605 5,650
Net income 60,146 68,421 4,043
Less net income attributable to noncontrolling interests 11,487 12,943 10,247
Net income (loss) attributable to Stewart 48,659 55,478 (6,204)
Net income (loss) attributable to Stewart      
Net income 60,146 68,421 4,043
Other comprehensive income (loss), net of taxes:      
Foreign currency translation adjustments 8,354 (3,367) (11,145)
Change in unrealized net gains on investments 1,766 354 (3,741)
Reclassification adjustment for net gains included in net income (2,086) (1,911) (1,626)
Other comprehensive income (loss), net of taxes 8,034 (4,924) (16,512)
Comprehensive income (loss) 68,180 63,497 (12,469)
Less comprehensive income attributable to noncontrolling interests 11,487 12,943 10,247
Comprehensive income (loss) attributable to Stewart $ 56,693 $ 50,554 $ (22,716)
Basic average shares outstanding (000) 23,445 23,364 23,544
Basic earnings (loss) per share attributable to Stewart (USD per share) $ 2.08 $ 1.86 $ (0.26)
Diluted average shares outstanding (000) 23,597 23,472 23,544
Diluted earnings (loss) per share attributable to Stewart (USD per share) $ 2.06 $ 1.85 $ (0.26)