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Segment Information

6 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Segment Information

Segment Information

The Company has one reportable segment, title insurance services. The remaining immaterial segments have been combined into a group called “All Other.”

The title insurance segment primarily issues title insurance policies through approved attorneys from underwriting offices and through independent issuing agents. Title insurance policies insure titles to real estate.

Provided below is selected financial information about the Company's operations by segment for the periods June 30, 2019 and 2018:

Three Months Ended June 30, 2019 (in thousands)	Title Insurance				All Other				Intersegment Eliminations				Total
Insurance and other services revenues	$	38,601			$	2,831			$	(1,946	)		$	39,486
Investment income	2,471				790				—				3,261
Net realized loss on investments	(8		)		(6		)		—				(14		)
Total revenues	$	41,064			$	3,615			$	(1,946	)		$	42,733
Operating expenses	35,139				2,485				(1,811		)		35,813
Income before income taxes	$	5,925			$	1,130			$	(135	)		$	6,920
Total assets	$	187,754			$	68,740			$	—			$	256,494

Three Months Ended June 30, 2018 (in thousands)	Title Insurance				All Other				Intersegment Eliminations				Total
Insurance and other services revenues	$	38,680			$	1,996			$	(1,682	)		$	38,994
Investment income	2,125				529				—				2,654
Net realized gain on investments	264				24				—				288
Total revenues	$	41,069			$	2,549			$	(1,682	)		$	41,936
Operating expenses	32,424				2,246				(1,548		)		33,122
Income before income taxes	$	8,645			$	303			$	(134	)		$	8,814
Total assets	$	199,132			$	54,066			$	—			$	253,198

Six Months Ended June 30, 2019 (in thousands)	Title Insurance				All Other				Intersegment Eliminations				Total
Insurance and other services revenues	$	69,920			$	5,522			$	(3,136	)		$	72,306
Investment income	7,901				1,696				—				9,597
Net realized gain on investments	756				20				—				776
Total revenues	$	78,577			$	7,238			$	(3,136	)		$	82,679
Operating expenses	65,591				4,722				(2,867		)		67,446
Income before income taxes	$	12,986			$	2,516			$	(269	)		$	15,233
Total assets	$	187,754			$	68,740			$	—			$	256,494

Six Months Ended June 30, 2018 (in thousands)	Title Insurance				All Other				Intersegment Eliminations				Total
Insurance and other services revenues	$	71,101			$	3,886			$	(3,115	)		$	71,872
Investment income	2,739				660				—				3,399
Net realized gain on investments	407				34				—				441
Total revenues	$	74,247			$	4,580			$	(3,115	)		$	75,712
Operating expenses	60,216				4,304				(2,847		)		61,673
Income before income taxes	$	14,031			$	276			$	(268	)		$	14,039
Total assets	$	199,132			$	54,066			$	—			$	253,198

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- References

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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