Equity investees

12 Months Ended

Dec. 31, 2013

Equity investees

NOTE 9

Equity investees. Certain summarized aggregate financial information for equity investees (in which the Company typically owns 20% through 50% of the equity) follows:

	2013		2012		2011
	($000 omitted)
For the year:
Revenues		42,105		66,145		70,896
Net earnings		8,064		11,037		4,326
At December 31:
Total assets		25,470		52,500		57,972
Notes payable		12,390		23,681		23,533
Stockholders’ equity		5,561		12,758		12,524

Net premium revenues from policies issued by equity investees were approximately $4.4 million, $6.0 million and $6.4 million in 2013, 2012 and 2011, respectively. Earnings related to equity investees were $4.1 million, $4.3 million and $1.7 million in 2013, 2012 and 2011, respectively. These amounts are included in title insurance – direct operations in the consolidated statements of earnings and comprehensive earnings.

Goodwill related to equity investees was $7.5 million and $9.1 million at December 31, 2013 and 2012, respectively, and these balances are included in investments in investees in the consolidated balance sheets. Equity investments, including the related goodwill balances, are reviewed for impairment annually and upon the occurrence of an event indicating an impairment may have occurred.