XML 26 R2.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Revenues    
Direct operations $ 188,188stc_DirectOperations $ 153,146stc_DirectOperations
Agency operations 214,812stc_AgencyOperations 213,673stc_AgencyOperations
Mortgage services 40,772stc_MortgageServices 22,759stc_MortgageServices
Investment income 3,949us-gaap_NetInvestmentIncome 3,858us-gaap_NetInvestmentIncome
Investment and other gains – net 1,151us-gaap_AvailableForSaleSecuritiesGrossRealizedGainLossNet 140us-gaap_AvailableForSaleSecuritiesGrossRealizedGainLossNet
Total revenues 448,872us-gaap_Revenues 393,576us-gaap_Revenues
Expenses    
Amounts retained by agencies 175,800us-gaap_InsuranceCommissions 174,679us-gaap_InsuranceCommissions
Employee costs 162,495us-gaap_LaborAndRelatedExpense 141,922us-gaap_LaborAndRelatedExpense
Other operating expenses 88,775us-gaap_OtherCostAndExpenseOperating 67,737us-gaap_OtherCostAndExpenseOperating
Title losses and related claims 33,134us-gaap_PolicyholderBenefitsAndClaimsIncurredNet 22,767us-gaap_PolicyholderBenefitsAndClaimsIncurredNet
Depreciation and amortization 7,105us-gaap_DepreciationAndAmortization 4,395us-gaap_DepreciationAndAmortization
Interest 438us-gaap_InterestExpense 662us-gaap_InterestExpense
Total expenses 467,747us-gaap_BenefitsLossesAndExpenses 412,162us-gaap_BenefitsLossesAndExpenses
Loss before taxes and noncontrolling interests (18,875)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest (18,586)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
Income tax benefit (7,531)us-gaap_IncomeTaxExpenseBenefit (7,958)us-gaap_IncomeTaxExpenseBenefit
Net loss (11,344)us-gaap_ProfitLoss (10,628)us-gaap_ProfitLoss
Less net earnings attributable to noncontrolling interests 1,104us-gaap_NetIncomeLossAttributableToNoncontrollingInterest 1,478us-gaap_NetIncomeLossAttributableToNoncontrollingInterest
Net loss attributable to Stewart (12,448)us-gaap_NetIncomeLoss (12,106)us-gaap_NetIncomeLoss
Net loss attributable to Stewart    
Net loss (11,344)us-gaap_ProfitLoss (10,628)us-gaap_ProfitLoss
Foreign currency translation (6,499)us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax (2,408)us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
Change in unrealized gains on investments 2,759us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax 4,161us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
Reclassification of adjustment for gains included in net earnings (651)us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax (131)us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
Other comprehensive (loss) earnings, net of taxes (4,391)us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent 1,622us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
Comprehensive loss (15,735)us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest (9,006)us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
Less comprehensive earnings attributable to noncontrolling interests 1,104us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest 1,478us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
Comprehensive loss attributable to Stewart $ (16,839)us-gaap_ComprehensiveIncomeNetOfTax $ (10,484)us-gaap_ComprehensiveIncomeNetOfTax
Basic and diluted average shares outstanding (000) 23,990us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted 22,506us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted
Basic and dilutive loss per share attributable to Stewart (usd per share) $ (0.52)us-gaap_EarningsPerShareBasicAndDiluted $ (0.54)us-gaap_EarningsPerShareBasicAndDiluted