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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenues        
Direct operations $ 241,462 $ 206,366 $ 429,650 $ 359,512
Agency operations 251,208 209,924 466,020 423,597
Mortgage services 34,182 26,351 74,954 49,111
Investment income 4,665 4,861 8,614 8,718
Investment and other gains (losses) – net 389 (664) 1,540 (524)
Total revenues 531,906 446,838 980,778 840,414
Expenses        
Amounts retained by agencies 204,437 170,779 380,237 345,458
Employee costs 171,078 151,251 333,574 293,173
Other operating expenses 98,022 89,164 186,796 156,901
Title losses and related claims 19,577 18,170 52,711 40,937
Depreciation and amortization 7,274 5,055 14,379 9,450
Interest 486 883 924 1,545
Total expenses 500,874 435,302 968,621 847,464
Income (loss) before taxes and noncontrolling interests 31,032 11,536 12,157 (7,050)
Income tax expense (benefit) 10,407 2,789 2,876 (5,168)
Net income (loss) 20,625 8,747 9,281 (1,882)
Net income attributable to noncontrolling interests 3,519 2,468 4,623 3,946
Net income (loss) attributable to Stewart 17,106 6,279 4,658 (5,828)
Net income (loss) attributable to Stewart        
Net income (loss) 20,625 8,747 9,281 (1,882)
Foreign currency translation adjustments 2,243 4,129 (4,256) 1,721
Change in unrealized gains on investments (6,700) 3,706 (3,941) 7,867
Reclassification of adjustment for gains included in net income (131) (62) (782) (193)
Other comprehensive (loss) income, net of taxes (4,588) 7,773 (8,979) 9,395
Comprehensive income 16,037 16,520 302 7,513
Less net income attributable to noncontrolling interests 3,519 2,468 4,623 3,946
Comprehensive income (loss) attributable to Stewart $ 12,518 $ 14,052 $ (4,321) $ 3,567
Basic average shares outstanding (000) 23,624 22,476 23,806 22,491
Basic earnings (loss) per share attributable to Stewart (usd per share) $ 0.72 $ 0.28 $ 0.20 $ (0.26)
Diluted average shares outstanding (000) 23,795 24,848 23,975 22,491
Dilutive earnings (loss) per share attributable to Stewart (usd per share) $ 0.72 $ 0.27 $ 0.19 $ (0.26)