Segment information

6 Months Ended

Jun. 30, 2014

Segment Reporting [Abstract]

Segment information

Segment information. The Company’s three reportable operating segments are title insurance and related services (title), mortgage services and corporate. The title segment provides services needed to transfer the title to property in a real estate transaction.  These services include searching, examining, closing and insuring the condition of the title to the property.  The title segment also includes home and personal insurance services and Internal Revenue Code Section 1031 tax-deferred exchanges.

The mortgage services segment includes a diverse group of products and services provided to multiple markets.  These services include providing origination and component servicing support; default and REO services; post-closing outsourcing; portfolio due diligence; mortgage compliance solutions; servicer oversight to residential mortgage lenders, servicers and investors; technology to support the real estate transaction, and centralized title and valuation services to large lenders.

The corporate segment consists of the expenses of the parent holding company, certain other corporate overhead expenses, and the costs of its centralized support operations not otherwise allocated to the lines of business.

Selected statement of operations and comprehensive earnings (loss) information related to these segments follows:

	For the Three Months Ended   June 30,		For the Six Months Ended   June 30,
	2014	2013	2014	2013
	($000 omitted)
Revenues:
Title	402,831	475,429	763,849	857,843
Mortgage services	39,378	37,321	68,110	78,515
Corporate	4,629	4,470	8,455	4,575
	446,838	517,220	840,414	940,933
Intersegment revenues:
Mortgage services	2,930	2,396	5,170	4,227
Corporate	707	785	1,425	1,582
	3,637	3,181	6,595	5,809
Depreciation and amortization:
Title	1,702	1,468	3,031	2,968
Mortgage services	1,603	917	2,762	1,885
Corporate	1,750	1,836	3,657	3,725
	5,055	4,221	9,450	8,578

Earnings (loss) before taxes and noncontrolling interests:
Title	44,932		73,151		62,538		103,484
Mortgage services	(1,379	)	5,170		(2,943	)	14,992
Corporate	(32,017	)	(29,459	)	(66,645	)	(62,467	)
	11,536		48,862		(7,050	)	56,009

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

Revenues generated in the United States and all international operations follows:

	For the Three Months Ended   June 30,		For the Six Months Ended   June 30,
	2014	2013	2014	2013
	($000 omitted)
United States	413,338	485,774	784,246	888,714
International	33,500	31,446	56,168	52,219
	446,838	517,220	840,414	940,933