Segment information

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Segment information

Segment information. Prior to 2022, the Company reported two operating segments: the title insurance and related services (title) segment, and the ancillary services and corporate segment. Effective in the first quarter 2022, the Company began reporting three operating segments: the title segment, the real estate solutions segment, and the corporate and other segment. The new segment presentation is primarily due to the increased size of the real estate solutions operations (formerly, ancillary services operations) resulting from strategic acquisitions. Previously, the real estate solutions operations were combined in one segment with the Company's corporate operations, which consist of expenses of the parent holding company and other centralized administrative services departments.

Under the revised segment presentation, the composition of each of the title and real estate solutions segments is substantially unchanged, while the corporate and other segment primarily includes corporate operations and other businesses not related to title or real estate solutions operations. The title segment provides services needed to transfer title to property in a real estate transaction and includes services such as searching, abstracting, examining, closing and insuring the condition of the title to the property. In addition, the title segment includes home and personal insurance services, Internal Revenue Code Section 1031 tax-deferred exchanges, and digital customer engagement platform services. The real estate solutions segment primarily includes appraisal management services, online notarization and closing services, credit and real estate information services, and search and valuation services. Amounts for 2021 were recast in the following table to conform with the new segment presentation.

Selected statement of income information related to these segments is as follows:

	Three Months Ended   September 30,		Nine Months Ended   September 30,
	2022	2021	2022	2021
	($000 omitted)
Title segment:
Revenues	646,607	772,246	2,135,000	2,157,949
Depreciation and amortization	7,467	4,556	21,098	13,579
Income before taxes and noncontrolling interest	51,837	119,147	228,212	321,907
Real estate solutions segment:
Revenues	69,738	64,425	241,993	178,549
Depreciation and amortization	6,204	4,376	19,381	8,155
Income before taxes	3,364	2,791	16,249	7,655
Corporate and other segment:
Revenues	54	56	36,394	7,623
Depreciation and amortization	396	212	1,624	660
Loss before taxes	(9,690)	(5,492)	(32,560)	(9,658)
Consolidated Stewart:
Revenues	716,399	836,727	2,413,387	2,344,121
Depreciation and amortization	14,067	9,144	42,103	22,394
Income before taxes and noncontrolling interest	45,511	116,446	211,901	319,904

The Company does not provide asset information by reportable operating segment as it does not routinely evaluate the asset position by segment.

Total revenues generated in the United States and all international operations are as follows:

	Three Months Ended   September 30,		Nine Months Ended   September 30,
	2022	2021	2022	2021
	($000 omitted)
United States	670,846	781,792	2,271,497	2,196,717
International	45,553	54,935	141,890	147,404
	716,399	836,727	2,413,387	2,344,121