XML 13 R2.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenues        
Investment income $ 4,781 $ 4,567 $ 14,732 $ 14,179
Investment and other gains (losses) – net 3,623 (1,047) 4,345 (1,436)
Revenues 507,640 501,569 1,437,739 1,430,061
Expenses        
Amounts retained by agencies 224,966 221,460 623,967 605,192
Employee costs 138,288 140,054 423,389 419,184
Other operating expenses 90,810 88,489 257,029 255,593
Title losses and related claims 21,503 25,428 59,181 70,591
Depreciation and amortization 6,221 6,578 18,609 19,397
Interest 1,076 963 2,722 2,492
Total expenses 482,864 482,972 1,384,897 1,372,449
Income before taxes and noncontrolling interests 24,776 18,597 52,842 57,612
Income tax expense 4,371 4,686 8,679 15,536
Net income 20,405 13,911 44,163 42,076
Less net income attributable to noncontrolling interests 2,851 2,967 8,012 8,475
Net income attributable to Stewart 17,554 10,944 36,151 33,601
Net income 20,405 13,911 44,163 42,076
Other comprehensive (loss) income, net of taxes:        
Foreign currency translation adjustments 1,140 4,141 (4,490) 8,670
Change in net unrealized gains and losses on investments (1,910) 63 (12,344) 2,885
Reclassification adjustment for net gains included in net income (137) (331) (617) (792)
Other comprehensive (loss) income, net of taxes (907) 3,873 (17,451) 10,763
Comprehensive income 19,498 17,784 26,712 52,839
Less net income attributable to noncontrolling interests 2,851 2,967 8,012 8,475
Comprehensive income attributable to Stewart $ 16,647 $ 14,817 $ 18,700 $ 44,364
Basic average shares outstanding (000) 23,556 23,448 23,537 23,442
Basic earnings per share attributable to Stewart (in usd per share) $ 0.75 $ 0.47 $ 1.54 $ 1.43
Diluted average shares outstanding (000) 23,699 23,564 23,677 23,571
Diluted earnings per share attributable to Stewart (in usd per share) $ 0.74 $ 0.46 $ 1.53 $ 1.43
Title - Direct operations        
Revenues        
Revenues $ 213,134 $ 216,830 $ 622,886 $ 635,921
Title - Agency operations        
Revenues        
Revenues 272,875 268,545 756,986 736,301
Ancillary services        
Revenues        
Revenues 13,227 12,674 38,790 45,096
Operating revenues        
Revenues        
Revenues $ 499,236 $ 498,049 $ 1,418,662 $ 1,417,318