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Segment Reporting (Tables) | 3 Months Ended
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Mar. 31, 2024
Segment Reporting [Abstract] |
Schedule of Reconciliation of Adjusted Pretax Operating Income (Loss) to Consolidated Pretax Income | The reconciliation of adjusted pretax operating income (loss) for our reportable segment to consolidated pretax income is as follows.
Reconciliation of adjusted pretax operating income (loss) to consolidated pretax income
|  |  |  | Three Months Ended March 31,
(In thousands) |  |  |  |  |  | 2024 |  | 2023
Mortgage Insurance adjusted pretax operating income (1) |  |  |  |  |  | $ | 209,850 |  |  | $ | 214,699 |
Reconciling items |  |  |  |  |  |  |  |
All Other adjusted pretax operating income (loss) |  |  |  |  |  | (7,033) |  |  | (14,836) |
Net gains (losses) on investments and other financial instruments (2) |  |  |  |  |  | 107 |  |  | 5,505 |
Amortization and impairment of goodwill and other acquired intangible assets |  |  |  |  |  | — |  |  | (1,371) |
Impairment of other long-lived assets and other non-operating items (3) |  |  |  |  |  | (4,275) |  |  | 14 |
Consolidated pretax income |  |  |  |  |  | $ | 198,649 |  |  | $ | 204,011 |
(1)Includes allocated corporate operating expenses and depreciation expense as follows.
|  |  |  | Three Months Ended March 31,
(In thousands) |  |  |  |  |  | 2024 |  | 2023
Mortgage Insurance |  |  |  |  |  |  |  |
Allocated corporate operating expenses (a) |  |  |  |  |  | $ | 34,509 |  |  | $ | 34,829 |
Direct depreciation expense |  |  |  |  |  | 1,923 |  |  | 2,124 |
(a)Includes immaterial allocated depreciation expense for the three months ended March 31, 2024 and 2023. (2)Excludes certain net gains (losses), if any, on investments and other financial instruments that are attributable to specific operating segments and therefore included in adjusted pretax operating income (loss). (3)The non-operating loss for the three months ended March 31, 2024, primarily relates to a loss on extinguishment of debt. See Note 12 for more information.
Schedule of Reconciliation of Reportable Segment Revenues to Total Revenues | The reconciliation of revenues for our reportable segment to consolidated revenues is as follows.
Reconciliation of reportable segment revenues to total revenues
|  |  |  | Three Months Ended March 31,
(In thousands) |  |  |  |  |  | 2024 |  | 2023
Mortgage Insurance revenues |  |  |  |  |  | $ | 285,023 |  |  | $ | 279,366 |
Reconciling items |  |  |  |  |  |  |  |
All Other (1) |  |  |  |  |  | 34,406 |  |  | 25,076 |
Net gains (losses) on investments and other financial instruments |  |  |  |  |  | 107 |  |  | 5,505 |
Elimination of inter-segment revenues |  |  |  |  |  | (118) |  |  | (95) |
Total revenues |  |  |  |  |  | $ | 319,418 |  |  | $ | 309,852 |
(1)Includes immaterial inter-segment revenues for the three months ended March 31, 2024 and 2023.
Schedule of Services Revenue | The table below, which represents total services revenue in our condensed consolidated statements of operations for the periods indicated, provides the disaggregation of services revenue by revenue type.
Services revenue
|  |  |  | Three Months Ended March 31,
(In thousands) |  |  |  |  |  | 2024 |  | 2023
Mortgage Insurance |  |  |  |  |  |  |  |
Contract underwriting services |  |  |  |  |  | $ | 210 |  |  | $ | 336 |
All Other |  |  |  |  |  |  |  |
Real Estate Services |  |  |  |  |  |  |  |
Valuation |  |  |  |  |  | 4,475 |  |  | 2,881 |
Single family rental |  |  |  |  |  | 2,360 |  |  | 2,435 |
Asset management technology platform |  |  |  |  |  | 1,200 |  |  | 1,166 |
Real estate owned asset management |  |  |  |  |  | 1,149 |  |  | 912 |
Other real estate services |  |  |  |  |  | 9 |  |  | 1 |
Title |  |  |  |  |  | 2,573 |  |  | 2,554 |
Real Estate Technology |  |  |  |  |  | 612 |  |  | 699 |
Total services revenue |  |  |  |  |  | $ | 12,588 |  |  | $ | 10,984 |

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