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CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Revenues    
Revenues $ 681,367 $ 445,774
Investment income 3,945 5,218
Net realized and unrealized gains (losses) 3,274 (11,091)
Revenues 688,586 439,901
Expenses    
Amounts retained by agencies 283,935 199,366
Employee costs 169,397 135,652
Other operating expenses 125,482 71,858
Title losses and related claims 28,773 18,632
Depreciation and amortization 6,430 4,231
Interest 567 892
Total expenses 614,584 430,631
Income before taxes and noncontrolling interests 74,002 9,270
Income tax expense (16,880) (1,896)
Net income 57,122 7,374
Less net income attributable to noncontrolling interests 2,886 2,197
Net income attributable to Stewart 54,236 5,177
Net income 57,122 7,374
Other comprehensive income (loss), net of taxes:    
Foreign currency translation adjustments 1,867 (11,442)
Change in net unrealized gains and losses on investments (9,156) (2,580)
Reclassification adjustment for realized gains and losses on investments (145) (80)
Other comprehensive loss, net of taxes: (7,434) (14,102)
Comprehensive income (loss) 49,688 (6,728)
Less net income attributable to noncontrolling interests 2,886 2,197
Comprehensive income (loss) attributable to Stewart $ 46,802 $ (8,925)
Basic average shares outstanding (in shares) 26,736 23,638
Basic earnings per share attributable to Stewart (in usd per share) $ 2.03 $ 0.22
Diluted average shares outstanding (in shares) 26,984 23,749
Diluted earnings per share attributable to Stewart (in usd per share) $ 2.01 $ 0.22
Direct operations    
Revenues    
Revenues $ 279,504 $ 198,283
Agency operations    
Revenues    
Revenues 345,932 242,030
Ancillary services    
Revenues    
Revenues $ 55,931 $ 5,461