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CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues        
Revenues $ 649,601 $ 590,267 $ 1,772,416 $ 1,647,887
Investment income 13,626 13,393 40,833 32,114
Net realized and unrealized gains (losses) 4,714 (1,946) 11,238 (4,829)
Revenues 667,941 601,714 1,824,487 1,675,172
Expenses        
Amounts retained by agencies 233,980 218,983 634,083 596,498
Employee costs 193,862 181,493 545,987 534,710
Other operating expenses 155,646 130,455 444,890 380,530
Title losses and related claims 21,282 22,251 59,754 59,727
Depreciation and amortization 15,480 16,414 46,062 46,848
Interest 4,899 5,054 14,768 14,777
Expenses 625,149 574,650 1,745,544 1,633,090
Income before taxes and noncontrolling interests 42,792 27,064 78,943 42,082
Income tax expense (9,123) (9,134) (17,999) (9,588)
Net income 33,669 17,930 60,944 32,494
Less net income attributable to noncontrolling interests 3,573 3,931 10,375 10,870
Net income attributable to Stewart 30,096 13,999 50,569 21,624
Net income attributable to Stewart        
Net income 33,669 17,930 60,944 32,494
Other comprehensive income (loss), net of taxes:        
Foreign currency translation adjustments 4,842 (5,847) (884) (995)
Change in net unrealized gains and losses on investments 13,015 (7,468) 10,853 (6,616)
Reclassification adjustments for realized gains and losses on investments 402 20 942 333
Other comprehensive income (loss), net of taxes: 18,259 (13,295) 10,911 (7,278)
Comprehensive income 51,928 4,635 71,855 25,216
Less net income attributable to noncontrolling interests 3,573 3,931 10,375 10,870
Comprehensive income attributable to Stewart $ 48,355 $ 704 $ 61,480 $ 14,346
Basic average shares outstanding (in shares) 27,688 27,348 27,592 27,269
Basic earnings per share attributable to Stewart (in usd per share) $ 1.09 $ 0.51 $ 1.83 $ 0.79
Diluted average shares outstanding (in shares) 28,200 27,650 28,069 27,445
Diluted earnings per share attributable to Stewart (in usd per share) $ 1.07 $ 0.51 $ 1.80 $ 0.79
Direct operations        
Revenues        
Revenues $ 270,706 $ 256,377 $ 736,774 $ 722,242
Agency operations        
Revenues        
Revenues 282,549 265,700 764,081 723,476
Real estate solutions        
Revenues        
Revenues $ 96,346 $ 68,190 $ 271,561 $ 202,169