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Acquisitions (Tables)

9 Months Ended

Sep. 30, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of Business Acquisition, Pro Forma Information

The following unaudited pro forma summary presents consolidated information for Essent as if the business combination had occurred on January 1, 2023.

						Actual						Pro Forma						Actual						Pro Forma
						Three Months Ended September 30,												Nine Months Ended September 30,
(In thousands)						2024						2023						2024						2023
Revenues						$	316,578					$	296,108					$	927,877					$	856,595
Earnings						176,175						178,139						561,503						514,823

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the consideration transferred to acquire Agents National Title and Boston National Title and the amounts of identified assets acquired and liabilities assumed, including purchase accounting adjustments that have been recorded by Essent during the measurement period:

						Originally Reported						Measurement Period Adjustments						As Reported
Consideration Paid:
Cash						$	92,625					$	(1,315)					$	91,310
Assets Acquired:
Cash and cash equivalents						5,864						—						5,864
Short-term investments						21,108						—						21,108
Fixed maturities available for sale						9,668						—						9,668
Identifiable intangible assets						26,300						(3,400)						22,900
Other assets						16,366						(2,297)						14,069
Liabilities Assumed:
Reserve for losses						14,613						(464)						14,149
Other liabilities						10,399						6,512						16,911
Total Identifiable Net Assets						54,294						(11,745)						42,549
Goodwill						$	38,331					$	10,430					$	48,761

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-SubTopic 10
-Topic 805
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)(3)
-SubTopic 10
-Topic 805
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

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X

- References

No definition available.

+ Details

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X

- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-1

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