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Segment Financial Information (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Schedule of Selected Financial Information | Information about reportable segment performance, significant expenses and assets for the years ended December 31, 2024, 2023 and 2022, are as follows:
Year Ended December 31, 2024 |  | Title Insurance and Services |  |  | Home Warranty |  |  | Corporate |  |  | Consolidated |
|  | (dollars in millions) |
Total segment revenue (1) |  | $ | 5,737.3 |  |  | $ | 425.7 |  |  | $ | (33.4 | ) |  | $ | 6,129.6 |
Elimination of intersegment revenue |  |  |  |  |  |  |  |  |  |  |  | (1.5 | )
Total consolidated revenue |  |  |  |  |  |  |  |  |  |  | $ | 6,128.1 |
Less: (2) |  |  |  |  |  |  |  |  |  |  |  |
Personnel costs |  |  | 1,953.2 |  |  |  | 81.2 |  |  |  | 24.9 |  |  |  | 2,059.3 |
Premiums retained by agents |  |  | 2,044.6 |  |  |  | — |  |  |  | — |  |  |  | 2,044.6 |
Other operating expenses (3) |  |  | 992.5 |  |  |  | 86.0 |  |  |  | 35.2 |  |  |  | 1,113.7 |
Provision for policy losses |  |  | 138.3 |  |  |  | 184.4 |  |  |  | (2.7 | ) |  |  | 320.0 |
Depreciation and amortization |  |  | 202.2 |  |  |  | 5.1 |  |  |  | 0.1 |  |  |  | 207.4 |
Premium taxes |  |  | 63.7 |  |  |  | 4.6 |  |  |  | — |  |  |  | 68.3 |
Interest |  |  | 96.6 |  |  |  | — |  |  |  | 54.3 |  |  |  | 150.9 |
Segment income (loss) before income taxes |  | $ | 246.2 |  |  | $ | 64.4 |  |  | $ | (145.2 | ) |  | $ | 163.9 |
Elimination of intersegment expenses |  |  |  |  |  |  |  |  |  |  |  | 1.5 |
Consolidated income before income taxes |  |  |  |  |  |  |  |  |  |  | $ | 165.4 |
Pretax margin |  |  | 4.3 | % |  |  | 15.1 | % |  |  |  |  |  |
Segment assets |  | $ | 13,989.6 |  |  | $ | 370.4 |  |  | $ | 754.6 |  |  | $ | 15,114.6 |
Elimination of intersegment assets (4) |  |  |  |  |  |  |  |  |  |  |  | (206.0 | )
Consolidated total assets |  |  |  |  |  |  |  |  |  |  | $ | 14,908.6 |
Segment capital expenditures |  | $ | 229.3 |  |  | $ | 5.9 |  |  | $ | — |  |  | $ | 235.2 |
(1) Intersegment revenue is included within amounts shown. (2) The significant expense categories and amounts align with segment level information that is regularly provided to the chief operating decision maker. Intersegment expenses are included within amounts shown. (3) Other operating expenses for each segment primarily include the following: Title insurance and services - title and data search expenses, office and occupancy expenses and software expense. Home warranty - advertising expense, office and occupancy expenses, software expense, delivery and storage expenses. Corporate - employee benefit expense and certain overhead expenses. (4) Elimination of intercompany asset balances:
Holding company cash balances also included in the title insurance and services segment |  | $ | 206.0 |
Year Ended December 31, 2023 |  | Title Insurance and Services |  |  | Home Warranty |  |  | Corporate |  |  | Consolidated |
|  | (dollars in millions) |
Total segment revenue (1) |  | $ | 5,724.8 |  |  | $ | 417.2 |  |  | $ | (137.2 | ) |  | $ | 6,004.8 |
Elimination of intersegment revenue |  |  |  |  |  |  |  |  |  |  |  | (1.3 | )
Total consolidated revenue |  |  |  |  |  |  |  |  |  |  | $ | 6,003.5 |
Less: (2) |  |  |  |  |  |  |  |  |  |  |  |
Personnel costs |  |  | 1,876.0 |  |  |  | 77.8 |  |  |  | 35.3 |  |  |  | 1,989.1 |
Premiums retained by agents |  |  | 1,952.2 |  |  |  | — |  |  |  | — |  |  |  | 1,952.2 |
Other operating expenses (3) |  |  | 937.7 |  |  |  | 82.8 |  |  |  | 46.5 |  |  |  | 1,067.0 |
Provision for policy losses |  |  | 139.9 |  |  |  | 193.1 |  |  |  | 3.3 |  |  |  | 336.3 |
Depreciation and amortization |  |  | 183.6 |  |  |  | 4.8 |  |  |  | 0.1 |  |  |  | 188.5 |
Premium taxes |  |  | 59.1 |  |  |  | 4.4 |  |  |  | — |  |  |  | 63.5 |
Interest |  |  | 82.3 |  |  |  | — |  |  |  | 51.4 |  |  |  | 133.7 |
Segment income (loss) before income taxes |  | $ | 494.0 |  |  | $ | 54.3 |  |  | $ | (273.8 | ) |  | $ | 273.2 |
Elimination of intersegment expenses |  |  |  |  |  |  |  |  |  |  |  | 1.2 |
Consolidated income before income taxes |  |  |  |  |  |  |  |  |  |  | $ | 274.4 |
Pretax margin |  |  | 8.6 | % |  |  | 13.0 | % |  |  |  |  |  |
Segment assets |  | $ | 15,768.2 |  |  | $ | 351.9 |  |  | $ | 832.5 |  |  | $ | 16,952.6 |
Elimination of intersegment assets (4) |  |  |  |  |  |  |  |  |  |  |  | (149.8 | )
Consolidated total assets |  |  |  |  |  |  |  |  |  |  | $ | 16,802.8 |
Segment capital expenditures |  | $ | 271.1 |  |  | $ | 7.6 |  |  | $ | — |  |  | $ | 278.7 |
(1) Intersegment revenue is included within amounts shown. (2) The significant expense categories and amounts align with segment level information that is regularly provided to the chief operating decision maker. Intersegment expenses are included within amounts shown. (3) Other operating expenses for each segment primarily include the following: Title insurance and services - title and data search expenses, office and occupancy expenses and software expense. Home warranty - advertising expense, office and occupancy expenses, software expense, delivery and storage expenses. Corporate - employee benefit expense and certain overhead expenses (4) Elimination of intercompany asset balances:
Holding company cash balances also included in the title insurance segment and services segment |  | $ | (94.8 | )
Holding company dividend receivable from a subsidiary within the title insurance and services segment |  |  | (10.0 | )
Holding company receivable from a subsidiary within the title insurance and services segment |  |  | (45.0 | )
|  | $ | (149.8 | )
Year Ended December 31, 2022 |  | Title Insurance and Services |  |  | Home Warranty |  |  | Corporate |  |  | Consolidated |
|  | (dollars in millions) |
Total segment revenue (1) |  | $ | 7,546.9 |  |  | $ | 419.0 |  |  | $ | (358.2 | ) |  | $ | 7,607.7 |
Elimination of intersegment revenue |  |  |  |  |  |  |  |  |  |  |  | (2.5 | )
Total consolidated revenue |  |  |  |  |  |  |  |  |  |  | $ | 7,605.2 |
Less: (2) |  |  |  |  |  |  |  |  |  |  |  |
Personnel costs |  |  | 2,272.9 |  |  |  | 77.3 |  |  |  | (10.6 | ) |  |  | 2,339.6 |
Premiums retained by agents |  |  | 2,829.7 |  |  |  | — |  |  |  | — |  |  |  | 2,829.7 |
Other operating expenses (3) |  |  | 1,155.4 |  |  |  | 75.7 |  |  |  | 41.2 |  |  |  | 1,272.3 |
Provision for policy losses |  |  | 248.4 |  |  |  | 211.8 |  |  |  | 26.1 |  |  |  | 486.3 |
Depreciation and amortization |  |  | 162.3 |  |  |  | 5.1 |  |  |  | 0.1 |  |  |  | 167.5 |
Premium taxes |  |  | 86.6 |  |  |  | 4.5 |  |  |  | — |  |  |  | 91.1 |
Interest |  |  | 34.2 |  |  |  | — |  |  |  | 61.2 |  |  |  | 95.4 |
Segment income (loss) before income taxes |  | $ | 757.4 |  |  | $ | 44.6 |  |  | $ | (476.2 | ) |  | $ | 323.3 |
Elimination of intersegment expenses |  |  |  |  |  |  |  |  |  |  |  | 2.4 |
Consolidated income before income taxes |  |  |  |  |  |  |  |  |  |  | $ | 325.7 |
Pretax margin |  |  | 10.0 | % |  |  | 10.6 | % |  |  |  |  |  |
Segment assets |  | $ | 13,911.2 |  |  | $ | 389.7 |  |  | $ | 1,257.8 |  |  | $ | 15,558.7 |
Elimination of intersegment assets (4) |  |  |  |  |  |  |  |  |  |  |  | (603.4 | )
Consolidated total assets |  |  |  |  |  |  |  |  |  |  | $ | 14,955.3 |
Segment capital expenditures |  | $ | 271.3 |  |  | $ | 3.6 |  |  | $ | — |  |  | $ | 274.9 |
(1) Intersegment revenue is included within amounts shown. (2) The significant expense categories and amounts align with segment level information that is regularly provided to the chief operating decision maker. Intersegment expenses are included within amounts shown. (3) Other operating expenses for each segment primarily include the following: Title insurance and services - title and data search expenses, office and occupancy expenses and software expense. Home warranty - advertising expense, office and occupancy expenses, software expense, delivery and storage expenses. Corporate - employee benefit expense and certain overhead expenses (4) Elimination of intercompany asset balances:
Holding company cash balances also included in the title insurance and services segment |  | $ | (603.4 | )
Information about the Company’s revenues, by segment, for the years ended December 31, 2024, 2023 and 2022, is as follows:
|  | Direct premiums and escrow fees |  |  | Agent premiums |  |  | Information and other |  |  | Net investment income |  |  | Net investment gains (losses) |  |  | Total Revenues |
|  | (in millions) |
2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Title Insurance and Services |  | $ | 2,048.3 |  |  | $ | 2,561.9 |  |  | $ | 938.2 |  |  | $ | 534.3 |  |  | $ | (345.4 | ) |  | $ | 5,737.3 |
Home Warranty |  |  | 397.8 |  |  |  | — |  |  |  | 22.5 |  |  |  | 4.0 |  |  |  | 1.4 |  |  |  | 425.7 |
Corporate and Eliminations |  |  | (0.1 | ) |  |  | — |  |  |  | 0.1 |  |  |  | 22.7 |  |  |  | (57.6 | ) |  |  | (34.9 | )
|  | $ | 2,446.0 |  |  | $ | 2,561.9 |  |  | $ | 960.8 |  |  | $ | 561.0 |  |  | $ | (401.6 | ) |  | $ | 6,128.1 |
2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Title Insurance and Services |  | $ | 1,856.4 |  |  | $ | 2,449.3 |  |  | $ | 917.1 |  |  | $ | 540.2 |  |  | $ | (38.2 | ) |  | $ | 5,724.8 |
Home Warranty |  |  | 395.6 |  |  |  | — |  |  |  | 21.7 |  |  |  | 5.9 |  |  |  | (6.0 | ) |  |  | 417.2 |
Corporate and Eliminations |  |  | 0.1 |  |  |  | — |  |  |  | (0.3 | ) |  |  | 23.9 |  |  |  | (162.2 | ) |  |  | (138.5 | )
|  | $ | 2,252.1 |  |  | $ | 2,449.3 |  |  | $ | 938.5 |  |  | $ | 570.0 |  |  | $ | (206.4 | ) |  | $ | 6,003.5 |
2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Title Insurance and Services |  | $ | 2,662.9 |  |  | $ | 3,547.6 |  |  | $ | 1,127.1 |  |  | $ | 359.1 |  |  | $ | (149.8 | ) |  | $ | 7,546.9 |
Home Warranty |  |  | 413.1 |  |  |  | — |  |  |  | 13.3 |  |  |  | 5.1 |  |  |  | (12.5 | ) |  |  | 419.0 |
Corporate and Eliminations |  |  | 8.8 |  |  |  | — |  |  |  | 8.1 |  |  |  | (24.1 | ) |  |  | (353.5 | ) |  |  | (360.7 | )
|  | $ | 3,084.8 |  |  | $ | 3,547.6 |  |  | $ | 1,148.5 |  |  | $ | 340.1 |  |  | $ | (515.8 | ) |  | $ | 7,605.2 |
Schedule Of Revenues From External Customers And Long-Lived Assets | Domestic and foreign revenues from external customers for the title insurance and services segment are as follows:
|  | Year Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
|  | Domestic |  |  | Foreign |  |  | Domestic |  |  | Foreign |  |  | Domestic |  |  | Foreign |
|  | (in millions) |
Revenues |  | $ | 5,314.6 |  |  | $ | 421.4 |  |  | $ | 5,351.6 |  |  | $ | 372.2 |  |  | $ | 7,128.4 |  |  | $ | 416.2 |
Domestic and foreign long-lived assets for the title insurance and services segment are as follows:
|  | December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
|  | Domestic |  |  | Foreign |  |  | Domestic |  |  | Foreign |  |  | Domestic |  |  | Foreign |
|  | (in millions) |
Long-lived assets |  | $ | 961.5 |  |  | $ | 55.5 |  |  | $ | 977.2 |  |  | $ | 53.0 |  |  | $ | 1,000.9 |  |  | $ | 51.0 |

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- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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