Segment information

12 Months Ended

Dec. 31, 2023

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. In 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 support services departments. Amounts for 2021 were recast in the following table to conform with the new segment presentation.

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 supports the real estate industry and primarily includes credit and real estate information services, valuation management services, online notarization and closing services, and search services. The corporate and other segment is primarily related to corporate operations.

Selected statement of income information related to these segments for the years ended December 31 is as follows:

	2023	2022	2021
	(in $ thousands)
Title
Revenues	1,977,128	2,733,744	3,002,949
Depreciation and amortization	35,000	29,715	21,227
Interest	1,442	386	3
Income before taxes and noncontrolling interest	97,524	255,132	440,462
Real estate solutions
Revenues	263,681	296,702	265,497
Depreciation and amortization	25,802	25,563	14,071
Interest	239	—	—
Income before taxes	8,680	16,624	12,951
Corporate and other
Revenues (net realized losses)	(3,468)	38,850	37,346
Depreciation and amortization	1,645	1,900	1,088
Interest	18,056	18,017	5,028
Loss before taxes	(45,343)	(39,104)	(19,442)
Consolidated Stewart
Revenues	2,257,341	3,069,296	3,305,792
Depreciation and amortization	62,447	57,178	36,386
Interest	19,737	18,403	5,031
Income before taxes and noncontrolling interest	60,861	232,652	433,971

The Company does not provide asset information by reportable operating segment as it does not routinely evaluate the asset position by segment. During 2022 and 2021, the corporate and other segment included results of a real estate brokerage company that was sold during the second quarter 2022.

Revenues for the years ended December 31 in the United States and all international operations are as follows:

	2023	2022	2021
	(in $ thousands)
United States	2,122,565	2,893,169	3,107,817
International	134,776	176,127	197,975
	2,257,341	3,069,296	3,305,792