Information about reportable segment performance, significant expenses and assets are as follows: For the three months ended September 30, 2026:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(dollars in millions) |
|
Title Insurance and Services |
|
|
Home Warranty |
|
|
Corporate |
|
|
Eliminations |
|
|
Consolidated |
|
Total segment revenue |
|
$ |
1,972.9 |
|
|
$ |
114.7 |
|
|
$ |
(2.9 |
) |
|
$ |
(0.1 |
) |
|
$ |
2,084.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: (1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Personnel costs |
|
|
574.1 |
|
|
|
22.4 |
|
|
|
0.8 |
|
|
|
0.1 |
|
|
|
597.4 |
|
Premiums retained by agents |
|
|
695.6 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
695.6 |
|
Other operating expenses (2) |
|
|
306.4 |
|
|
|
28.2 |
|
|
|
9.6 |
|
|
|
(0.6 |
) |
|
|
343.6 |
|
Provision for policy losses |
|
|
45.3 |
|
|
|
50.2 |
|
|
|
(0.6 |
) |
|
|
0.2 |
|
|
|
95.1 |
|
Depreciation and amortization |
|
|
53.3 |
|
|
|
1.3 |
|
|
|
— |
|
|
|
0.1 |
|
|
|
54.7 |
|
Premium taxes |
|
|
22.8 |
|
|
|
1.3 |
|
|
|
— |
|
|
|
0.1 |
|
|
|
24.2 |
|
Interest |
|
|
31.3 |
|
|
|
— |
|
|
|
15.2 |
|
|
|
(0.1 |
) |
|
|
46.4 |
|
Segment income (loss) before income taxes |
|
$ |
244.1 |
|
|
$ |
11.3 |
|
|
$ |
(27.9 |
) |
|
$ |
0.1 |
|
|
$ |
227.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pretax margin (3) |
|
|
12.4 |
% |
|
|
9.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment assets |
|
$ |
16,836.6 |
|
|
$ |
452.2 |
|
|
$ |
1,074.2 |
|
|
$ |
(380.2 |
) |
(4) |
$ |
17,982.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment capital expenditures |
|
$ |
41.5 |
|
|
$ |
1.4 |
|
|
|
|
|
|
|
|
$ |
42.9 |
|
(1)The significant expense categories and amounts align with segment level information that is regularly provided to the chief operating decision maker. (2)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. (3)Pretax margin for the corporate segment is not regularly provided to the chief operating decision maker to assess performance. (4)Elimination of intercompany asset balances:
|
|
|
|
|
Holding company cash balances also included in the title insurance and services segment |
|
$ |
(375.4 |
) |
Home warranty segment cash balances also included in the title insurance and services segment |
|
|
(4.8 |
) |
|
|
$ |
(380.2 |
) |
For the three months ended September 30, 2025:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(dollars in millions) |
|
Title Insurance and Services |
|
|
Home Warranty |
|
|
Corporate |
|
|
Eliminations |
|
|
Consolidated |
|
Total segment revenue |
|
$ |
1,835.9 |
|
|
$ |
114.6 |
|
|
$ |
28.4 |
|
|
$ |
— |
|
|
$ |
1,978.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: (1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Personnel costs |
|
|
542.9 |
|
|
|
21.4 |
|
|
|
10.6 |
|
|
|
— |
|
|
|
574.9 |
|
Premiums retained by agents |
|
|
640.1 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
640.1 |
|
Other operating expenses (2) |
|
|
275.6 |
|
|
|
24.4 |
|
|
|
9.3 |
|
|
|
(0.1 |
) |
|
|
309.2 |
|
Provision for policy losses |
|
|
42.0 |
|
|
|
50.0 |
|
|
|
(1.3 |
) |
|
|
0.1 |
|
|
|
90.8 |
|
Depreciation and amortization |
|
|
53.5 |
|
|
|
1.3 |
|
|
|
— |
|
|
|
— |
|
|
|
54.8 |
|
Premium taxes |
|
|
20.9 |
|
|
|
1.3 |
|
|
|
— |
|
|
|
— |
|
|
|
22.2 |
|
Interest |
|
|
24.7 |
|
|
|
— |
|
|
|
15.2 |
|
|
|
— |
|
|
|
39.9 |
|
Segment income (loss) before income taxes |
|
$ |
236.2 |
|
|
$ |
16.2 |
|
|
$ |
(5.4 |
) |
|
$ |
— |
|
|
$ |
247.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pretax margin (3) |
|
|
12.9 |
% |
|
|
14.1 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment assets |
|
$ |
16,625.6 |
|
|
$ |
437.0 |
|
|
$ |
694.5 |
|
|
$ |
(147.1 |
) |
(4) |
$ |
17,610.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment capital expenditures |
|
$ |
47.4 |
|
|
$ |
1.6 |
|
|
|
|
|
|
|
|
$ |
49.0 |
|
(1)The significant expense categories and amounts align with segment level information that is regularly provided to the chief operating decision maker. (2)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. (3)Pretax margin for the corporate segment is not regularly provided to the chief operating decision maker to assess performance. (4)Elimination of intercompany asset balances:
|
|
|
|
|
Holding company cash balances also included in the title insurance and services segment |
|
$ |
(143.3 |
) |
Home warranty segment cash balances also included in the title insurance and services segment |
|
|
(3.8 |
) |
|
|
$ |
(147.1 |
) |
For the nine months ended September 30, 2026:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(dollars in millions) |
|
Title Insurance and Services |
|
|
Home Warranty |
|
|
Corporate |
|
|
Eliminations |
|
|
Consolidated |
|
Total segment revenue |
|
$ |
5,719.8 |
|
|
$ |
338.3 |
|
|
$ |
(18.0 |
) |
|
$ |
(0.2 |
) |
|
$ |
6,039.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: (1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Personnel costs |
|
|
1,693.0 |
|
|
|
65.4 |
|
|
|
21.4 |
|
|
|
0.1 |
|
|
|
1,779.9 |
|
Premiums retained by agents |
|
|
1,956.4 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1,956.4 |
|
Other operating expenses (2) |
|
|
902.8 |
|
|
|
74.8 |
|
|
|
29.1 |
|
|
|
(0.6 |
) |
|
|
1,006.1 |
|
Provision for policy losses |
|
|
130.1 |
|
|
|
129.1 |
|
|
|
0.9 |
|
|
|
0.1 |
|
|
|
260.2 |
|
Depreciation and amortization |
|
|
158.7 |
|
|
|
4.1 |
|
|
|
0.1 |
|
|
|
— |
|
|
|
162.9 |
|
Premium taxes |
|
|
63.4 |
|
|
|
3.6 |
|
|
|
— |
|
|
|
0.1 |
|
|
|
67.1 |
|
Interest |
|
|
88.4 |
|
|
|
— |
|
|
|
45.6 |
|
|
|
— |
|
|
|
134.0 |
|
Segment income (loss) before income taxes |
|
$ |
727.0 |
|
|
$ |
61.3 |
|
|
$ |
(115.1 |
) |
|
$ |
0.1 |
|
|
$ |
673.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pretax margin (3) |
|
|
12.7 |
% |
|
|
18.1 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment capital expenditures |
|
$ |
120.0 |
|
|
$ |
4.3 |
|
|
|
|
|
|
|
|
$ |
124.3 |
|
(1)The significant expense categories and amounts align with segment level information that is regularly provided to the chief operating decision maker. (2)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. (3)Pretax margin for the corporate segment is not regularly provided to the chief operating decision maker to assess performance. For the nine months ended September 30, 2025:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(dollars in millions) |
|
Title Insurance and Services |
|
|
Home Warranty |
|
|
Corporate |
|
|
Eliminations |
|
|
Consolidated |
|
Total segment revenue |
|
$ |
5,043.2 |
|
|
$ |
332.6 |
|
|
$ |
26.8 |
|
|
$ |
(0.1 |
) |
|
$ |
5,402.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: (1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Personnel costs |
|
|
1,550.7 |
|
|
|
62.6 |
|
|
|
39.4 |
|
|
|
— |
|
|
|
1,652.7 |
|
Premiums retained by agents |
|
|
1,739.1 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1,739.1 |
|
Other operating expenses (2) |
|
|
799.8 |
|
|
|
68.8 |
|
|
|
28.4 |
|
|
|
(0.1 |
) |
|
|
896.9 |
|
Provision for policy losses |
|
|
114.9 |
|
|
|
130.5 |
|
|
|
(2.6 |
) |
|
|
— |
|
|
|
242.8 |
|
Depreciation and amortization |
|
|
156.3 |
|
|
|
3.9 |
|
|
|
0.1 |
|
|
|
— |
|
|
|
160.3 |
|
Premium taxes |
|
|
55.2 |
|
|
|
3.6 |
|
|
|
— |
|
|
|
— |
|
|
|
58.8 |
|
Interest |
|
|
67.5 |
|
|
|
— |
|
|
|
45.6 |
|
|
|
— |
|
|
|
113.1 |
|
Segment income (loss) before income taxes |
|
$ |
559.7 |
|
|
$ |
63.2 |
|
|
$ |
(84.1 |
) |
|
$ |
— |
|
|
$ |
538.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pretax margin (3) |
|
|
11.1 |
% |
|
|
19.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment capital expenditures |
|
$ |
143.4 |
|
|
$ |
4.7 |
|
|
|
|
|
|
|
|
$ |
148.1 |
|
(1)The significant expense categories and amounts align with segment level information that is regularly provided to the chief operating decision maker. (2)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. (3)Pretax margin for the corporate segment is not regularly provided to the chief operating decision maker to assess performance. Revenues by segment are as follows: For the three months ended September 30, 2026:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(in millions) |
|
Direct
premiums
and escrow
fees |
|
|
Agent
premiums |
|
|
Information
and other |
|
|
Net
investment
income |
|
|
Net
investment
gains (losses) |
|
|
Total
Revenues |
|
Title Insurance and Services |
|
$ |
642.8 |
|
|
$ |
868.4 |
|
|
$ |
292.2 |
|
|
$ |
169.3 |
|
|
$ |
0.2 |
|
|
$ |
1,972.9 |
|
Home Warranty |
|
|
107.1 |
|
|
|
— |
|
|
|
5.8 |
|
|
|
1.6 |
|
|
|
0.2 |
|
|
|
114.7 |
|
Corporate and Eliminations |
|
|
(0.1 |
) |
|
|
— |
|
|
|
(0.1 |
) |
|
|
(0.8 |
) |
|
|
(2.0 |
) |
|
|
(3.0 |
) |
|
|
$ |
749.8 |
|
|
$ |
868.4 |
|
|
$ |
297.9 |
|
|
$ |
170.1 |
|
|
$ |
(1.6 |
) |
|
$ |
2,084.6 |
|
For the three months ended September 30, 2025:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(in millions) |
|
Direct
premiums
and escrow
fees |
|
|
Agent
premiums |
|
|
Information
and other |
|
|
Net
investment
income |
|
|
Net
investment
gains (losses) |
|
|
Total
Revenues |
|
Title Insurance and Services |
|
$ |
601.5 |
|
|
$ |
798.8 |
|
|
$ |
276.1 |
|
|
$ |
153.1 |
|
|
$ |
6.4 |
|
|
$ |
1,835.9 |
|
Home Warranty |
|
|
106.6 |
|
|
|
— |
|
|
|
5.7 |
|
|
|
1.4 |
|
|
|
0.9 |
|
|
|
114.6 |
|
Corporate and Eliminations |
|
|
(0.1 |
) |
|
|
— |
|
|
|
0.2 |
|
|
|
9.3 |
|
|
|
19.0 |
|
|
|
28.4 |
|
|
|
$ |
708.0 |
|
|
$ |
798.8 |
|
|
$ |
282.0 |
|
|
$ |
163.8 |
|
|
$ |
26.3 |
|
|
$ |
1,978.9 |
|
For the nine months ended September 30, 2026:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(in millions) |
|
Direct
premiums
and escrow
fees |
|
|
Agent
premiums |
|
|
Information
and other |
|
|
Net
investment
income |
|
|
Net
investment
gains (losses) |
|
|
Total
Revenues |
|
Title Insurance and Services |
|
$ |
1,889.1 |
|
|
$ |
2,447.5 |
|
|
$ |
856.4 |
|
|
$ |
487.5 |
|
|
$ |
39.3 |
|
|
$ |
5,719.8 |
|
Home Warranty |
|
|
315.0 |
|
|
|
— |
|
|
|
17.9 |
|
|
|
4.2 |
|
|
|
1.2 |
|
|
|
338.3 |
|
Corporate and Eliminations |
|
|
— |
|
|
|
— |
|
|
|
6.5 |
|
|
|
14.5 |
|
|
|
(39.2 |
) |
|
|
(18.2 |
) |
|
|
$ |
2,204.1 |
|
|
$ |
2,447.5 |
|
|
$ |
880.8 |
|
|
$ |
506.2 |
|
|
$ |
1.3 |
|
|
$ |
6,039.9 |
|
For the nine months ended September 30, 2025:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(in millions) |
|
Direct
premiums
and escrow
fees |
|
|
Agent
premiums |
|
|
Information
and other |
|
|
Net
investment
income |
|
|
Net
investment
gains (losses) |
|
|
Total
Revenues |
|
Title Insurance and Services |
|
$ |
1,661.5 |
|
|
$ |
2,169.9 |
|
|
$ |
776.4 |
|
|
$ |
437.9 |
|
|
$ |
(2.5 |
) |
|
$ |
5,043.2 |
|
Home Warranty |
|
|
311.9 |
|
|
|
— |
|
|
|
17.8 |
|
|
|
3.4 |
|
|
|
(0.5 |
) |
|
|
332.6 |
|
Corporate and Eliminations |
|
|
(0.1 |
) |
|
|
— |
|
|
|
0.1 |
|
|
|
17.9 |
|
|
|
8.8 |
|
|
|
26.7 |
|
|
|
$ |
1,973.3 |
|
|
$ |
2,169.9 |
|
|
$ |
794.3 |
|
|
$ |
459.2 |
|
|
$ |
5.8 |
|
|
$ |
5,402.5 |
|
|