Stewart Information Services (STC) 10-Q 7 Aug 19 2019 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2019	Jul. 31, 2019
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2019
Document Transition Report	false
Entity File Number	001-02658
Entity Registrant Name	STEWART INFORMATION SERVICES CORP
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	74-1677330
Entity Address, Address Line One	1360 Post Oak Blvd.,
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	Houston,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77056
City Area Code	713
Local Phone Number	625-8100
Title of 12(b) Security	Common Stock, $1 par value per share
Trading Symbol	STC
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		23,712,238
Entity Central Index Key	0000094344
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Amendment Flag	false

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenues
Investment income	$ 5,155	$ 5,247	$ 9,879	$ 9,951
Investment and other gains – net	422	2,393	3,826	722
Revenues	472,075	492,869	870,595	930,099
Expenses
Amounts retained by agencies	191,091	203,793	367,586	399,000
Employee costs	139,896	146,278	269,151	285,101
Other operating expenses	86,051	85,953	163,207	166,220
Title losses and related claims	18,786	18,697	34,473	37,678
Depreciation and amortization	5,775	6,154	11,764	12,388
Interest	1,124	673	2,288	1,646
Total expenses	442,723	461,548	848,469	902,033
Income before taxes and noncontrolling interests	29,352	31,321	22,126	28,066
Income tax expense	(7,027)	(5,601)	(4,585)	(4,307)
Net income	22,325	25,720	17,541	23,759
Less net income attributable to noncontrolling interests	3,019	3,342	5,001	5,161
Net income attributable to Stewart	19,306	22,378	12,540	18,598
Net income	22,325	25,720	17,541	23,759
Other comprehensive income (loss), net of taxes:
Foreign currency translation adjustments	2,475	(4,038)	7,063	(5,630)
Change in net unrealized gains and losses on investments	5,371	(2,428)	14,382	(10,434)
Reclassification adjustment for net losses (gains) included in net income	50	(231)	212	(480)
Other comprehensive income (loss)	7,896	(6,697)	21,657	(16,544)
Comprehensive income	30,221	19,023	39,198	7,215
Less net income attributable to noncontrolling interests	3,019	3,342	5,001	5,161
Comprehensive income attributable to Stewart	$ 27,202	$ 15,681	$ 34,197	$ 2,054
Basic average shares outstanding (in shares)	23,614	23,546	23,605	23,527
Basic earnings per share attributable to Stewart (in usd per share)	$ 0.82	$ 0.95	$ 0.53	$ 0.79
Diluted average shares outstanding (in shares)	23,758	23,625	23,750	23,607
Diluted earnings per share attributable to Stewart (in usd per share)	$ 0.81	$ 0.95	$ 0.53	$ 0.79
Title - Direct operations
Revenues
Revenues	$ 227,883	$ 224,240	$ 389,130	$ 409,752
Title - Agency operations
Revenues
Revenues	230,817	247,257	445,680	484,111
Ancillary services
Revenues
Revenues	7,798	13,732	22,080	25,563
Operating revenues
Revenues
Revenues	$ 466,498	$ 485,229	$ 856,890	$ 919,426

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Assets
Cash and cash equivalents	$ 201,205	$ 192,067
Short-term investments	23,064	22,950
Investments in debt and equity securities, at fair value	617,349	636,017
Receivables:
Premiums from agencies	32,347	29,032
Trade and other	52,471	43,568
Income taxes	4,304	489
Notes	2,889	2,987
Allowance for uncollectible amounts	(4,025)	(4,614)
Total receivables	87,986	71,462
Property and equipment:
Land	3,512	3,991
Buildings	21,498	22,968
Furniture and equipment	218,726	216,498
Accumulated depreciation	(186,439)	(182,663)
Total property and equipment, at cost	57,297	60,794
Operating lease assets	102,134	0
Title plants, at cost	74,737	74,737
Investments on equity method basis	8,455	8,590
Goodwill	248,890	248,890
Intangible assets, net of amortization	7,340	9,727
Deferred tax assets	4,575	4,575
Other assets	44,007	43,121
Total assets	1,477,039	1,372,930
Liabilities
Notes payable	105,404	108,036
Accounts payable and accrued liabilities	85,436	109,283
Operating lease liabilities	114,022	0
Estimated title losses	450,208	461,560
Deferred tax liabilities	21,142	14,214
Total liabilities	776,212	693,093
Contingent liabilities and commitments
Stockholders’ equity
Common Stock ($1 par value) and additional paid-in capital	188,300	186,714
Retained earnings	512,467	514,248
Accumulated other comprehensive income (loss):
Net unrealized investment gains (losses) on debt securities investments	9,328	(5,266)
Foreign currency translation adjustments	(12,442)	(19,505)
Treasury stock – 352,161 common shares, at cost	(2,666)	(2,666)
Stockholders’ equity attributable to Stewart	694,987	673,525
Noncontrolling interests	5,840	6,312
Total stockholders’ equity (23,712,238 and 23,719,347 shares outstanding)	700,827	679,837
Total liabilities and stockholders' equity	$ 1,477,039	$ 1,372,930

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Common stock, par value (in usd per share)	$ 1	$ 1
Treasury stock, common shares	352,161	352,161
Common stock, shares outstanding	23,712,238	23,719,347

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Reconciliation of net income to cash (used) provided by operating activities:
Net income	$ 17,541	$ 23,759
Add (deduct):
Depreciation and amortization	11,764	12,388
Provision for bad debt	462	69
Investment and other gains – net	(3,826)	(722)
Amortization of net premium on debt securities investments	2,628	3,116
Payments for title losses in excess of provisions	(11,178)	(1,175)
Adjustment for insurance recoveries of title losses	314	1,448
Increase in receivables – net	(16,865)	(4,363)
Increase in other assets – net	(1,111)	(2,626)
Decrease in accounts payable and other liabilities – net	(11,588)	(26,326)
Change in net deferred income taxes	1,185	(457)
Net income from equity investees	(1,047)	(768)
Dividends received from equity investees	1,220	985
Stock-based compensation expense	2,057	1,979
Other – net	15	60
Cash (used) provided by operating activities	(8,429)	7,367
Investing activities:
Proceeds from sales of investments in securities	9,952	25,722
Proceeds from matured investments in debt securities	35,884	10,355
Purchases of investments in securities	(1,263)	(26,220)
Net (purchases) sales of short-term investments	(58)	221
Purchases of property and equipment, and real estate – net	(7,889)	(5,690)
Cash paid for acquisition of businesses	0	(11,978)
Other – net	1,705	458
Cash provided (used) by investing activities	38,331	(7,132)
Financing activities:
Payments on notes payable	(23,139)	(5,993)
Proceeds from notes payable	20,506	26
Distributions to noncontrolling interests	(5,487)	(5,751)
Repurchases of common stock	(471)	(672)
Cash dividends paid	(14,167)	(14,127)
Purchase of remaining interest in consolidated subsidiary	0	(1,112)
Cash used by financing activities	(22,758)	(27,629)
Effects of changes in foreign currency exchange rates	1,994	(1,557)
Increase (decrease) in cash and cash equivalents	9,138	(28,951)
Cash and cash equivalents at beginning of period	192,067	150,079
Cash and cash equivalents at end of period	$ 201,205	$ 121,128

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENT OF EQUITY (UNAUDITED) - USD ($) $ in Thousands	Total	Common Stock	Additional paid-in capital	Retained earnings	Accumulated other comprehensive loss	Treasury stock	Noncontrolling interests
Balances at beginning of period at Dec. 31, 2017	$ 678,810	$ 24,072	$ 159,954	$ 491,698	$ (847)	$ (2,666)	$ 6,599
Increase (Decrease) in Stockholders' Equity
Net income attributable to Stewart	18,598			18,598
Dividends on Common Stock	(14,232)			(14,232)
Stock-based compensation	1,979	42	1,937
Stock repurchases	(672)	(17)	(655)
Purchase of remaining interest in consolidated subsidiary	(1,112)		(1,032)				(80)
Net change in unrealized gains and losses on investments, net of taxes	(10,434)				(10,434)
Net investment realized loss (gain) reclassification, net of taxes	(480)				(480)
Foreign currency translation adjustments, net of taxes	(5,630)				(5,630)
Net income attributable to noncontrolling interests	5,161						5,161
Distributions to noncontrolling interests	(5,751)						(5,751)
Balances at end of period at Jun. 30, 2018	666,237	24,097	160,204	499,656	(20,983)	(2,666)	5,929
Balances at beginning of period at Mar. 31, 2018	656,203	24,086	159,300	484,359	(14,286)	(2,666)	5,410
Increase (Decrease) in Stockholders' Equity
Net income attributable to Stewart	22,378			22,378
Dividends on Common Stock	(7,081)			(7,081)
Stock-based compensation	1,839	14	1,825
Stock repurchases	(93)	(3)	(90)
Purchase of remaining interest in consolidated subsidiary	(831)		(831)
Net change in unrealized gains and losses on investments, net of taxes	(2,428)				(2,428)
Net investment realized loss (gain) reclassification, net of taxes	(231)				(231)
Foreign currency translation adjustments, net of taxes	(4,038)				(4,038)
Net income attributable to noncontrolling interests	3,342						3,342
Distributions to noncontrolling interests	(2,823)						(2,823)
Balances at end of period at Jun. 30, 2018	666,237	24,097	160,204	499,656	(20,983)	(2,666)	5,929
Balances at beginning of period at Dec. 31, 2018	679,837	24,072	162,642	514,248	(24,771)	(2,666)	6,312
Increase (Decrease) in Stockholders' Equity
Net income attributable to Stewart	12,540			12,540
Dividends on Common Stock	(14,321)			(14,321)
Stock-based compensation	2,057	4	2,053
Stock repurchases	(471)	(11)	(460)
Net change in unrealized gains and losses on investments, net of taxes	14,382				14,382
Net investment realized loss (gain) reclassification, net of taxes	212				212
Foreign currency translation adjustments, net of taxes	7,063				7,063
Net income attributable to noncontrolling interests	5,001						5,001
Distributions to noncontrolling interests	(5,487)						(5,487)
Net effect of other changes in ownership	14						14
Balances at end of period at Jun. 30, 2019	700,827	24,065	164,235	512,467	(3,114)	(2,666)	5,840
Balances at beginning of period at Mar. 31, 2019	678,904	24,052	163,087	500,335	(11,010)	(2,666)	5,106
Increase (Decrease) in Stockholders' Equity
Net income attributable to Stewart	19,306			19,306
Dividends on Common Stock	(7,174)			(7,174)
Stock-based compensation	1,253	15	1,238
Stock repurchases	(92)	(2)	(90)
Net change in unrealized gains and losses on investments, net of taxes	5,371				5,371
Net investment realized loss (gain) reclassification, net of taxes	50				50
Foreign currency translation adjustments, net of taxes	2,475				2,475
Net income attributable to noncontrolling interests	3,019						3,019
Distributions to noncontrolling interests	(2,310)						(2,310)
Net effect of other changes in ownership	25						25
Balances at end of period at Jun. 30, 2019	$ 700,827	$ 24,065	$ 164,235	$ 512,467	$ (3,114)	$ (2,666)	$ 5,840

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENT OF EQUITY (UNAUDITED) (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Stockholders' Equity [Abstract]
Cash dividends on common stock (in usd per share)	$ 0.30	$ 0.30	$ 0.60	$ 0.60

Interim financial statements

Interim financial statements	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Interim financial statements	Interim financial statements. The financial information contained in this report for the three and six months ended June 30, 2019 and 2018 , and as of June 30, 2019 , is unaudited. This report should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 . A. Management’s responsibility. The accompanying interim financial statements were prepared by management, who is responsible for their integrity and objectivity. These financial statements have been prepared in conformity with U.S. generally accepted accounting principles (GAAP), including management’s best judgments and estimates. In the opinion of management, all adjustments necessary for a fair presentation of this information for all interim periods, consisting only of normal recurring accruals, have been made. The Company’s results of operations for interim periods are not necessarily indicative of results for a full year and actual results could differ. B. Consolidation. The condensed consolidated financial statements include all subsidiaries in which the Company owns more than 50% voting rights in electing directors. All significant intercompany amounts and transactions have been eliminated and provisions have been made for noncontrolling interests. Unconsolidated investees, in which the Company typically owns from 20% through 50% of the voting stock, are accounted for using the equity method. C. Restrictions on cash and investments. The Company maintains investments in accordance with certain statutory requirements for the funding of statutory premium reserves. Statutory reserve funds are required to be fully funded and invested in high-quality securities and short-term investments. Statutory reserve funds are not available for current claim payments, which must be funded from current operating cash flow. Included in investments in debt and equity securities are statutory reserve funds of approximately $444.4 million and $462.2 million at June 30, 2019 and December 31, 2018 , respectively, In addition, included within cash and cash equivalents are statutory reserve funds of approximately $65.7 million and $37.7 million at June 30, 2019 and December 31, 2018 , respectively. Although these cash statutory reserve funds are not restricted or segregated in depository accounts, they are required to be held pursuant to state statutes. If the Company fails to maintain minimum investments or cash and cash equivalents sufficient to meet statutory requirements, the Company may be subject to fines or other penalties, including potential revocation of its business license. These funds are not available for any other purpose. In the event that insurance regulators adjust the determination of the statutory premium reserves of the Company’s title insurers, these restricted funds as well as statutory surplus would correspondingly increase or decrease. D. Recently adopted accounting standard. In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-02, Topic 842: Leases (Topic 842) which updates the current guidance related to leases to increase transparency and comparability among organizations. Most prominent among the changes in the standard is the recognition of right-of-use lease assets and lease liabilities on the balance sheet by lessees for those leases classified as operating leases. Additional financial statement disclosures are required to enable users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. Topic 842 is effective for annual and interim periods beginning after December 15, 2018. Topic 842 permits adoption using either a modified retrospective approach or an optional transition method. The optional transition method allows the application of the recognition and measurement requirements of the standard in the period of adoption and annual disclosures using the legacy lease guidance in Topic 840 for comparative periods. The Company adopted Topic 842 effective January 1, 2019 using the optional transition method of adoption. In addition, the Company elected practical expedients permitted under the transition guidance of the standard, which among other things, allowed the carry forward of the historical lease classifications for existing leases. The adoption resulted in the recognition on the Company's January 1, 2019 consolidated balance sheet of approximately $99.8 million of operating lease assets and lease liabilities, and the reclassification of approximately $10.7 million of existing deferred rent liabilities from accounts payable and accrued liabilities to operating lease assets. There was no impact on the Company's 2019 consolidated statements of operations and comprehensive income and cash flows. The accounting treatment for finance leases remained substantially unchanged. E. Merger Agreement update. In relation to the Company's agreement and plan of merger (Merger Agreement) with Fidelity National Financial, Inc. (FNF) (the Mergers), as disclosed in detail in Note 1-S of the Company’s 2018 Annual Report on Form 10-K and in Exhibit 2.1 to the Company's Current Report on Form 8-K filed on March 19, 2018 with the Securities and Exchange Commission, the Company continues to work with FNF to gain approval for the merger from the Federal Trade Commission and the remaining state regulators, including Texas and New York. As set forth in the Risk Factors of the Company’s 2018 Annual Report on Form 10-K, no assurances can be given that the requisite approvals thereunder will be obtained, or that the approvals, if obtained, will not include conditions which will delay or materially increase the costs of the Mergers, or result in the abandonment of the Mergers. Additionally, the Merger Agreement contains certain customary termination rights in favor of either the Company or FNF, which are exercisable (i) by mutual consent, (ii) upon the failure to complete the Mergers by March 18, 2019 (the End Date), subject to certain exceptions and subject to up to two ( 2 ) extensions of up to three

Revenues

Revenues	6 Months Ended
	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenues	Revenues. The Company's operating revenues, summarized by type, are as follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 ($000 omitted) Title insurance premiums: Direct 162,367 158,947 274,285 291,708 Agency 230,817 247,257 445,680 484,111 Escrow fees 36,611 35,468 61,904 63,335 Search, abstract and valuation services 19,248 25,114 42,187 46,901 Other revenues 17,455 18,443 32,834 33,371 466,498 485,229 856,890 919,426

Investments in debt and equity

Investments in debt and equity securities	6 Months Ended
	Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Investments in debt and equity securities	Investments in debt and equity securities. The total fair values of the Company's investments in debt and equity securities are as follows: June 30, 2019 December 31, 2018 ($000 omitted) Investments in: Debt securities 579,823 602,020 Equity securities 37,526 33,997 617,349 636,017 As of June 30, 2019 and December 31, 2018 , the net unrealized investment gains relating to investments in equity securities held were $ 6.4 million and $ 2.9 million, respectively. The amortized costs and fair values of investments in debt securities are as follows: June 30, 2019 December 31, 2018 Amortized costs Fair values Amortized costs Fair values ($000 omitted) Municipal 60,141 61,578 61,779 61,934 Corporate 311,687 319,745 333,289 328,495 Foreign 189,650 192,068 200,667 198,938 U.S. Treasury Bonds 6,537 6,432 12,951 12,653 568,015 579,823 608,686 602,020 Foreign debt securities consist of Canadian government and corporate bonds, United Kingdom treasury and corporate bonds, and Mexican government bonds. Gross unrealized gains and losses on investments in debt securities are as follows: June 30, 2019 December 31, 2018 Gains Losses Gains Losses ($000 omitted) Municipal 1,439 2 482 327 Corporate 8,184 126 1,894 6,688 Foreign 3,022 604 1,402 3,131 U.S. Treasury Bonds 8 113 2 300 12,653 845 3,780 10,446 Debt securities as of June 30, 2019 mature, according to their contractual terms, as follows (actual maturities may differ due to call or prepayment rights): Amortized costs Fair values ($000 omitted) In one year or less 50,679 50,634 After one year through five years 330,611 335,702 After five years through ten years 155,433 160,440 After ten years 31,292 33,047 568,015 579,823 Gross unrealized losses on investments in debt securities and the fair values of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at June 30, 2019 , were: Less than 12 months More than 12 months Total Losses Fair values Losses Fair values Losses Fair values ($000 omitted) Municipal — — 2 506 2 506 Corporate 1 80 125 22,619 126 22,699 Foreign 30 21,616 574 59,053 604 80,669 U.S. Treasury Bonds — — 113 5,836 113 5,836 31 21,696 814 88,014 845 109,710 The number of specific debt investment holdings held in an unrealized loss position as of June 30, 2019 was 61 . Of these securities, 53 were in unrealized loss positions for more than 12 months. During 2019, the overall gross unrealized losses on debt securities improved compared to the prior year-end, primarily due to reduced interest rates and credit spreads which increased investment fair values. Since the Company does not intend to sell and will more likely than not maintain each investment security until its maturity or anticipated recovery, and no significant credit risk is deemed to exist, these investments are not considered as other-than-temporarily impaired. The Company believes its investment portfolio is diversified and expects no material loss to result from the failure to perform by issuers of the debt securities it holds. Investments made by the Company are not collateralized. Gross unrealized losses on investments in debt securities and the fair values of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2018 , were: Less than 12 months More than 12 months Total Losses Fair values Losses Fair values Losses Fair values ($000 omitted) Municipal 91 13,366 236 11,645 327 25,011 Corporate 4,416 201,965 2,272 71,044 6,688 273,009 Foreign 158 11,424 2,973 137,793 3,131 149,217 U.S. Treasury Bonds — — 300 12,544 300 12,544 4,665 226,755 5,781 233,026 10,446 459,781

Fair value measurements

Fair value measurements	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Fair value measurements	Fair value measurements. The Fair Value Measurements and Disclosures Topic (Topic 820) of the FASB Accounting Standards Codification (ASC) defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal, or most advantageous, market for the asset or liability in an orderly transaction between market participants at the measurement date. Topic 820 establishes a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. This hierarchy requires entities to maximize the use of observable inputs when possible. The three levels of inputs used to measure fair value are as follows: • Level 1 – quoted prices in active markets for identical assets or liabilities; • Level 2 – observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data; and • Level 3 – unobservable inputs that are supported by little or no market activity and that are significant to the fair values of the assets or liabilities, including certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. As of June 30, 2019 , financial instruments measured at fair value on a recurring basis are summarized below: Level 1 Level 2 Fair value measurements ($000 omitted) Investments in securities: Debt securities: Municipal — 61,578 61,578 Corporate — 319,745 319,745 Foreign — 192,068 192,068 U.S. Treasury Bonds — 6,432 6,432 Equity securities 37,526 — 37,526 37,526 579,823 617,349 As of December 31, 2018 , financial instruments measured at fair value on a recurring basis are summarized below: Level 1 Level 2 Fair value measurements ($000 omitted) Investments in securities: Debt securities: Municipal — 61,934 61,934 Corporate — 328,495 328,495 Foreign — 198,938 198,938 U.S. Treasury Bonds — 12,653 12,653 Equity securities 33,997 — 33,997 33,997 602,020 636,017 As of June 30, 2019 , Level 1 financial instruments consist of equity securities. Level 2 financial instruments consist of municipal, governmental, and corporate bonds, both U.S. and foreign. In accordance with the Company’s policies and guidelines which incorporate relevant statutory requirements, the Company’s third-party registered investment manager invests only in securities rated as investment grade or higher by the major rating services, where observable valuation inputs are significant. The fair value of the Company's investments in debt and equity securities is primarily determined using a third-party pricing service provider. The third-party pricing service provider calculates the fair values using both market approach and model valuation methods, as well as pricing information obtained from brokers, dealers and custodians. Management ensures the reasonableness of the third-party service valuations by comparing them with pricing information from the Company's investment manager.

Investment and other gains - ne

Investment and other gains - net	6 Months Ended
	Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Investment and other gains - net	Investment and other gains - net. Investments and other gains (losses) are detailed as follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 ($000 omitted) Investment and other gains 791 603 953 1,166 Investment and other losses (59 ) (38 ) (363 ) (68 ) Net unrealized investment (losses) gains recognized on equity securities still held at June 30 (310 ) 1,828 3,236 (376 ) 422 2,393 3,826 722 Investment gains and losses recognized during the periods ended June 30, 2019 and 2018 related to investments in equity securities are as follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 ($000 omitted) Net investment (losses) gains recognized on equity securities during the period (264 ) 1,612 3,393 (614 ) Less: Net realized gains (losses) on equity securities sold during the period 46 (216 ) 157 (238 ) Net unrealized investment (losses) gains recognized on equity securities still held at June 30 (310 ) 1,828 3,236 (376 ) Proceeds from sales of investments in securities are as follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 ($000 omitted) Proceeds from sales of debt securities 2,734 8,003 9,052 21,149 Proceeds from sales of equity securities 260 2,353 900 4,573 Total proceeds from sales of investments in securities 2,994 10,356 9,952 25,722

Estimated title losses

Estimated title losses	6 Months Ended
	Jun. 30, 2019
Insurance [Abstract]
Estimated title losses	Estimated title losses. A summary of estimated title losses for the six months ended June 30 is as follows: 2019 2018 ($000 omitted) Balances at January 1 461,560 480,990 Provisions: Current year 33,833 41,372 Previous policy years 640 (3,694 ) Total provisions 34,473 37,678 Payments, net of recoveries: Current year (5,722 ) (5,263 ) Previous policy years (39,929 ) (33,590 ) Total payments, net of recoveries (45,651 ) (38,853 ) Effects of changes in foreign currency exchange rates (174 ) (4,355 ) Balances at June 30 450,208 475,460 Loss ratios as a percentage of title operating revenues: Current year provisions 4.1 % 4.6 % Total provisions 4.1 % 4.2 % Title loss provisions during 2019 decreased compared to 2018, primarily as a result of lower title premiums in 2019. During 2018, the Company recorded a $4.0 million

Share-based payments

Share-based payments	6 Months Ended
	Jun. 30, 2019
Share-based Payment Arrangement [Abstract]
Share-based payments	Share-based payments. Beginning in 2018, the Company grants time-based and performance-based restricted stock units to executives and senior management employees. Each restricted stock unit represents a contractual right to receive a share of the Company's common stock. The time-based units vest on each of the first three anniversaries of the grant date, while the performance-based units vest upon achievement of certain financial objectives over a period of approximately three years . Awards are made pursuant to the Company’s employee incentive compensation plans and the compensation expense associated with the awards is recognized over the corresponding vesting period. The aggregate grant-date fair values of restricted stock unit awards during the first six months of 2019 and 2018 were $4.5 million ( 104,000 units with an average grant price per unit of $43.22 ) and $4.7 million ( 109,000 units with an average grant price per unit of $43.39

Earnings per share

Earnings per share	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Earnings per share	Earnings per share. Basic earnings per share (EPS) attributable to Stewart is calculated by dividing net income attributable to Stewart by the weighted-average number of shares of Common Stock outstanding during the reporting periods. Outstanding shares of Common Stock granted to employees that are not yet vested (restricted shares) are excluded from the calculation of the weighted-average number of shares outstanding for calculating basic EPS. To calculate diluted EPS, the number of shares is adjusted to include the number of additional shares that would have been outstanding if the restricted shares and restricted units were vested. In periods of loss, dilutive shares are excluded from the calculation of the diluted EPS and diluted EPS is computed in the same manner as basic EPS. The calculation of the basic and diluted EPS is as follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 ($000 omitted, except per share) Numerator: Net income attributable to Stewart 19,306 22,378 12,540 18,598 Denominator (000): Basic average shares outstanding 23,614 23,546 23,605 23,527 Average number of dilutive shares relating to grants of restricted shares and units 144 79 145 80 Basic and diluted average shares outstanding 23,758 23,625 23,750 23,607 Basic earnings per share attributable to Stewart 0.82 0.95 0.53 0.79 Diluted earnings per share attributable to Stewart 0.81 0.95 0.53 0.79

Leases

Leases	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Leases	Leases. The Company primarily leases office space, storage units, data centers and equipment, and determines if an arrangement is a lease at inception. Operating leases are included in operating lease assets and operating lease liabilities on the consolidated balance sheets. Operating lease assets represent the right to use the underlying leased assets over the corresponding lease terms. Finance leases are included in furniture and equipment and notes payable on the consolidated balance sheets. Operating lease assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As most of the Company's leases do not provide an implicit rate, the Company's incremental borrowing rate based on the information available at the lease commencement date is used in determining the present value of the future lease payments. Lease options to extend or terminate that the Company is reasonably certain to exercise are considered in the present value calculation. Operating lease expense, which is calculated on a straight-line basis over the lease term and presented as part of other operating expenses in the statement of operations, is composed of the amortization of the lease asset and the accretion of the lease liability. Finance lease expense is composed of the depreciation of the lease asset and accretion of the lease liability and presented as part of depreciation and amortization and interest expense, respectively, in the condensed consolidated statement of income and comprehensive income. The Company accounts for the lease and non-lease fixed payment components of a lease agreement as a single lease component for all its classes of assets. Variable lease payments are not capitalized and are recorded as lease expense when incurred or paid. Operating leases with initial terms of 12 months or less (short-term leases), which are not reasonably certain to be extended at the commencement date, are not capitalized on the balance sheet. Additionally, operating leases of equipment are not recorded on the balance sheet on the basis that they are relatively short-term in nature and considered as not material to the condensed consolidated balance sheet. During the three and six months ended June 30, 2019, total operating lease expense was $11.4 million and $22.9 million, respectively, which included $1.1 million and $ 2.1 million, respectively, of lease expense related to short-term leases and equipment. Total finance lease expense was $0.5 million and $ 1.1 million, respectively, for the three and six months ended June 30, 2019. Lease-related assets and liabilities as of June 30, 2019 are as follows ($000 omitted): Assets: Operating lease assets, net of accumulated amortization 102,134 Finance lease assets, net of accumulated depreciation 1,369 Total lease assets 103,503 Liabilities: Operating lease liabilities 114,022 Finance lease liabilities 4,975 Total lease liabilities 118,997 Other information related to operating and finance leases during the six months ended June 30, 2019 is as follows: Operating Finance Cash paid for amounts included in the measurement of lease liabilities ($000) 22,167 1,734 Lease assets obtained in exchange for lease obligations ($000) 33,419 — Weighted average remaining lease term (years): 4.7 2.7 Weighted average discount rate 4.6 % 5.0 % Future minimum lease payments under operating and finance leases as of June 30, 2019 are as follows: Operating Finance ($000 omitted) 2019 (excludes the six months ended June 30, 2019) 20,396 1,342 2020 33,926 1,913 2021 25,264 957 2022 18,186 957 2023 12,907 80 Thereafter 21,809 — Total future minimum lease payments 132,488 5,249 Less: imputed interest (18,466 ) (274 ) Net future minimum lease payments 114,022 4,975
Leases	Leases. The Company primarily leases office space, storage units, data centers and equipment, and determines if an arrangement is a lease at inception. Operating leases are included in operating lease assets and operating lease liabilities on the consolidated balance sheets. Operating lease assets represent the right to use the underlying leased assets over the corresponding lease terms. Finance leases are included in furniture and equipment and notes payable on the consolidated balance sheets. Operating lease assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As most of the Company's leases do not provide an implicit rate, the Company's incremental borrowing rate based on the information available at the lease commencement date is used in determining the present value of the future lease payments. Lease options to extend or terminate that the Company is reasonably certain to exercise are considered in the present value calculation. Operating lease expense, which is calculated on a straight-line basis over the lease term and presented as part of other operating expenses in the statement of operations, is composed of the amortization of the lease asset and the accretion of the lease liability. Finance lease expense is composed of the depreciation of the lease asset and accretion of the lease liability and presented as part of depreciation and amortization and interest expense, respectively, in the condensed consolidated statement of income and comprehensive income. The Company accounts for the lease and non-lease fixed payment components of a lease agreement as a single lease component for all its classes of assets. Variable lease payments are not capitalized and are recorded as lease expense when incurred or paid. Operating leases with initial terms of 12 months or less (short-term leases), which are not reasonably certain to be extended at the commencement date, are not capitalized on the balance sheet. Additionally, operating leases of equipment are not recorded on the balance sheet on the basis that they are relatively short-term in nature and considered as not material to the condensed consolidated balance sheet. During the three and six months ended June 30, 2019, total operating lease expense was $11.4 million and $22.9 million, respectively, which included $1.1 million and $ 2.1 million, respectively, of lease expense related to short-term leases and equipment. Total finance lease expense was $0.5 million and $ 1.1 million, respectively, for the three and six months ended June 30, 2019. Lease-related assets and liabilities as of June 30, 2019 are as follows ($000 omitted): Assets: Operating lease assets, net of accumulated amortization 102,134 Finance lease assets, net of accumulated depreciation 1,369 Total lease assets 103,503 Liabilities: Operating lease liabilities 114,022 Finance lease liabilities 4,975 Total lease liabilities 118,997 Other information related to operating and finance leases during the six months ended June 30, 2019 is as follows: Operating Finance Cash paid for amounts included in the measurement of lease liabilities ($000) 22,167 1,734 Lease assets obtained in exchange for lease obligations ($000) 33,419 — Weighted average remaining lease term (years): 4.7 2.7 Weighted average discount rate 4.6 % 5.0 % Future minimum lease payments under operating and finance leases as of June 30, 2019 are as follows: Operating Finance ($000 omitted) 2019 (excludes the six months ended June 30, 2019) 20,396 1,342 2020 33,926 1,913 2021 25,264 957 2022 18,186 957 2023 12,907 80 Thereafter 21,809 — Total future minimum lease payments 132,488 5,249 Less: imputed interest (18,466 ) (274 ) Net future minimum lease payments 114,022 4,975

Contingent liabilities and comm

Contingent liabilities and commitments	6 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Contingent liabilities and commitments	Contingent liabilities and commitments. In the ordinary course of business, the Company guarantees the third-party indebtedness of certain of its consolidated subsidiaries. As of June 30, 2019 , the maximum potential future payments on the guarantees are not more than the related notes payable recorded in the condensed consolidated balance sheets. The Company also guarantees the indebtedness related to lease obligations of certain of its consolidated subsidiaries. The maximum future obligations arising from these lease-related guarantees are not more than the Company’s future minimum lease payments. As of June 30, 2019 , the Company also had unused letters of credit aggregating $ 5.4 million related to workers’ compensation and other insurance. The Company does not expect to make any payments on these guarantees.

Regulatory and legal developmen

Regulatory and legal developments	6 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Regulatory and legal developments	Regulatory and legal developments. The Company is subject to claims and lawsuits arising in the ordinary course of its business, most of which involve disputed policy claims. In some of these lawsuits, the plaintiff seeks exemplary or treble damages in excess of policy limits. The Company does not expect that any of these ordinary course proceedings will have a material adverse effect on its consolidated financial condition or results of operations. The Company believes that it has adequate reserves for the various litigation matters and contingencies discussed in this paragraph and that the likely resolution of these matters will not materially affect its consolidated financial condition or results of operations. Additionally, the Company receives from time to time various other inquiries from governmental regulators concerning practices in the insurance industry. Many of these practices do not concern title insurance. To the extent the Company is in receipt of such inquiries, it believes that it has adequately reserved for these matters and does not anticipate that the outcome of these inquiries will materially affect its consolidated financial condition or results of operations.

Segment information

Segment information	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Segment information	Segment information. The Company reports two operating segments: title and ancillary services and corporate . The title segment provides services needed to transfer title to property in a real estate transaction and includes services such as searching, examining, closing and insuring the condition of the title to the property. In addition, the title segment includes home and personal insurance services and Internal Revenue Code Section 1031 tax-deferred exchanges. The ancillary services and corporate segment includes search and valuation services, which are the principal offerings of ancillary services, and expenses of the parent holding company and certain other enterprise-wide overhead costs (net of centralized administrative services costs allocated to respective operating businesses). Selected statement of income information related to these segments is as follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 ($000 omitted) Title segment: Revenues 463,636 479,125 848,074 904,536 Depreciation and amortization 5,048 5,249 10,200 10,566 Income before taxes and noncontrolling interest 39,041 37,737 38,661 42,862 Ancillary services and corporate segment: Revenues 8,439 13,744 22,521 25,563 Depreciation and amortization 727 905 1,564 1,822 Loss before taxes and noncontrolling interest (9,689 ) (6,416 ) (16,535 ) (14,796 ) Consolidated Stewart: Revenues 472,075 492,869 870,595 930,099 Depreciation and amortization 5,775 6,154 11,764 12,388 Income before taxes and noncontrolling interest 29,352 31,321 22,126 28,066 The Company does not provide asset information by reportable operating segment as it does not routinely evaluate the asset position by segment. Revenues generated in the United States and all international operations are as follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 ($000 omitted) United States 441,614 460,529 818,096 873,833 International 30,461 32,340 52,499 56,266 472,075 492,869 870,595 930,099

Other comprehensive income (los

Other comprehensive income (loss)	6 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Other comprehensive income (loss)	Other comprehensive income (loss). Changes in the balances of each component of other comprehensive income (loss) and the related tax effects are as follows: Three Months Ended Three Months Ended Before-Tax Amount Tax Expense (Benefit) Net-of-Tax Amount Before-Tax Amount Tax Expense (Benefit) Net-of-Tax Amount ($000 omitted) Net unrealized gains (losses) on investments: Change in net unrealized gains and losses on investments 6,800 1,429 5,371 (3,074 ) (646 ) (2,428 ) Less: reclassification adjustment for net losses (gains) included in net income 63 13 50 (292 ) (61 ) (231 ) 6,863 1,442 5,421 (3,366 ) (707 ) (2,659 ) Foreign currency translation adjustments 3,378 903 2,475 (4,575 ) (537 ) (4,038 ) Other comprehensive income (loss) 10,241 2,345 7,896 (7,941 ) (1,244 ) (6,697 ) Six Months Ended Six Months Ended Before-Tax Amount Tax Expense (Benefit) Net-of-Tax Amount Before-Tax Amount Tax Expense (Benefit) Net-of-Tax Amount ($000 omitted) Net unrealized gains (losses) on investments: Change in net unrealized gains and losses on investments 18,206 3,824 14,382 (13,208 ) (2,774 ) (10,434 ) Less: reclassification adjustment for net losses (gains) included in net income 268 56 212 (607 ) (127 ) (480 ) 18,474 3,880 14,594 (13,815 ) (2,901 ) (10,914 ) Foreign currency translation adjustments 8,926 1,863 7,063 (6,854 ) (1,224 ) (5,630 ) Other comprehensive income (loss) 27,400 5,743 21,657 (20,669 ) (4,125 ) (16,544 )

Interim financial statements (P

Interim financial statements (Policies)	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Management's responsibility	Management’s responsibility. The accompanying interim financial statements were prepared by management, who is responsible for their integrity and objectivity. These financial statements have been prepared in conformity with U.S. generally accepted accounting principles (GAAP), including management’s best judgments and estimates. In the opinion of management, all adjustments necessary for a fair presentation of this information for all interim periods, consisting only of normal recurring accruals, have been made. The Company’s results of operations for interim periods are not necessarily indicative of results for a full year and actual results could differ.
Consolidation	Consolidation. The condensed consolidated financial statements include all subsidiaries in which the Company owns more than 50% voting rights in electing directors. All significant intercompany amounts and transactions have been eliminated and provisions have been made for noncontrolling interests. Unconsolidated investees, in which the Company typically owns from 20% through 50% of the voting stock, are accounted for using the equity method.
Restrictions on cash and investments	Restrictions on cash and investments. The Company maintains investments in accordance with certain statutory requirements for the funding of statutory premium reserves. Statutory reserve funds are required to be fully funded and invested in high-quality securities and short-term investments. Statutory reserve funds are not available for current claim payments, which must be funded from current operating cash flow. Included in investments in debt and equity securities are statutory reserve funds of approximately $444.4 million and $462.2 million at June 30, 2019 and December 31, 2018 , respectively, In addition, included within cash and cash equivalents are statutory reserve funds of approximately $65.7 million and $37.7 million at June 30, 2019 and December 31, 2018 , respectively. Although these cash statutory reserve funds are not restricted or segregated in depository accounts, they are required to be held pursuant to state statutes. If the Company fails to maintain minimum investments or cash and cash equivalents sufficient to meet statutory requirements, the Company may be subject to fines or other penalties, including potential revocation of its business license. These funds are not available for any other purpose. In the event that insurance regulators adjust the determination of the statutory premium reserves of the Company’s title insurers, these restricted funds as well as statutory surplus would correspondingly increase or decrease.
Recently adopted accounting standard	Recently adopted accounting standard. In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-02, Topic 842: Leases (Topic 842) which updates the current guidance related to leases to increase transparency and comparability among organizations. Most prominent among the changes in the standard is the recognition of right-of-use lease assets and lease liabilities on the balance sheet by lessees for those leases classified as operating leases. Additional financial statement disclosures are required to enable users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. Topic 842 is effective for annual and interim periods beginning after December 15, 2018. Topic 842 permits adoption using either a modified retrospective approach or an optional transition method. The optional transition method allows the application of the recognition and measurement requirements of the standard in the period of adoption and annual disclosures using the legacy lease guidance in Topic 840 for comparative periods. The Company adopted Topic 842 effective January 1, 2019 using the optional transition method of adoption. In addition, the Company elected practical expedients permitted under the transition guidance of the standard, which among other things, allowed the carry forward of the historical lease classifications for existing leases. The adoption resulted in the recognition on the Company's January 1, 2019 consolidated balance sheet of approximately $99.8 million of operating lease assets and lease liabilities, and the reclassification of approximately $10.7 million of existing deferred rent liabilities from accounts payable and accrued liabilities to operating lease assets. There was no impact on the Company's 2019 consolidated statements of operations and comprehensive income and cash flows. The accounting treatment for finance leases remained substantially unchanged.

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Summary of operating revenues	The Company's operating revenues, summarized by type, are as follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 ($000 omitted) Title insurance premiums: Direct 162,367 158,947 274,285 291,708 Agency 230,817 247,257 445,680 484,111 Escrow fees 36,611 35,468 61,904 63,335 Search, abstract and valuation services 19,248 25,114 42,187 46,901 Other revenues 17,455 18,443 32,834 33,371 466,498 485,229 856,890 919,426

Investments in debt and equit_2

Investments in debt and equity securities (Tables)	6 Months Ended
	Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Investments in debt securities	The total fair values of the Company's investments in debt and equity securities are as follows: June 30, 2019 December 31, 2018 ($000 omitted) Investments in: Debt securities 579,823 602,020 Equity securities 37,526 33,997 617,349 636,017 The amortized costs and fair values of investments in debt securities are as follows: June 30, 2019 December 31, 2018 Amortized costs Fair values Amortized costs Fair values ($000 omitted) Municipal 60,141 61,578 61,779 61,934 Corporate 311,687 319,745 333,289 328,495 Foreign 189,650 192,068 200,667 198,938 U.S. Treasury Bonds 6,537 6,432 12,951 12,653 568,015 579,823 608,686 602,020
Investments in equity securities	The total fair values of the Company's investments in debt and equity securities are as follows: June 30, 2019 December 31, 2018 ($000 omitted) Investments in: Debt securities 579,823 602,020 Equity securities 37,526 33,997 617,349 636,017 June 30, 2019 and 2018 related to investments in equity securities are as follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 ($000 omitted) Net investment (losses) gains recognized on equity securities during the period (264 ) 1,612 3,393 (614 ) Less: Net realized gains (losses) on equity securities sold during the period 46 (216 ) 157 (238 ) Net unrealized investment (losses) gains recognized on equity securities still held at June 30 (310 ) 1,828 3,236 (376 )
Gross unrealized gains and losses	Gross unrealized gains and losses on investments in debt securities are as follows: June 30, 2019 December 31, 2018 Gains Losses Gains Losses ($000 omitted) Municipal 1,439 2 482 327 Corporate 8,184 126 1,894 6,688 Foreign 3,022 604 1,402 3,131 U.S. Treasury Bonds 8 113 2 300 12,653 845 3,780 10,446
Debt securities according to contractual terms	Debt securities as of June 30, 2019 mature, according to their contractual terms, as follows (actual maturities may differ due to call or prepayment rights): Amortized costs Fair values ($000 omitted) In one year or less 50,679 50,634 After one year through five years 330,611 335,702 After five years through ten years 155,433 160,440 After ten years 31,292 33,047 568,015 579,823
Gross unrealized losses on investments and fair values of related securities	Gross unrealized losses on investments in debt securities and the fair values of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at June 30, 2019 , were: Less than 12 months More than 12 months Total Losses Fair values Losses Fair values Losses Fair values ($000 omitted) Municipal — — 2 506 2 506 Corporate 1 80 125 22,619 126 22,699 Foreign 30 21,616 574 59,053 604 80,669 U.S. Treasury Bonds — — 113 5,836 113 5,836 31 21,696 814 88,014 845 109,710 Gross unrealized losses on investments in debt securities and the fair values of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2018 , were: Less than 12 months More than 12 months Total Losses Fair values Losses Fair values Losses Fair values ($000 omitted) Municipal 91 13,366 236 11,645 327 25,011 Corporate 4,416 201,965 2,272 71,044 6,688 273,009 Foreign 158 11,424 2,973 137,793 3,131 149,217 U.S. Treasury Bonds — — 300 12,544 300 12,544 4,665 226,755 5,781 233,026 10,446 459,781

Fair value measurements (Tables

Fair value measurements (Tables)	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Financial instruments measured at fair value on recurring basis	As of June 30, 2019 , financial instruments measured at fair value on a recurring basis are summarized below: Level 1 Level 2 Fair value measurements ($000 omitted) Investments in securities: Debt securities: Municipal — 61,578 61,578 Corporate — 319,745 319,745 Foreign — 192,068 192,068 U.S. Treasury Bonds — 6,432 6,432 Equity securities 37,526 — 37,526 37,526 579,823 617,349 As of December 31, 2018 , financial instruments measured at fair value on a recurring basis are summarized below: Level 1 Level 2 Fair value measurements ($000 omitted) Investments in securities: Debt securities: Municipal — 61,934 61,934 Corporate — 328,495 328,495 Foreign — 198,938 198,938 U.S. Treasury Bonds — 12,653 12,653 Equity securities 33,997 — 33,997 33,997 602,020 636,017

Investment and other gains - _2

Investment and other gains - net (Tables)	6 Months Ended
	Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Gross realized investment and other gains and losses	Investments and other gains (losses) are detailed as follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 ($000 omitted) Investment and other gains 791 603 953 1,166 Investment and other losses (59 ) (38 ) (363 ) (68 ) Net unrealized investment (losses) gains recognized on equity securities still held at June 30 (310 ) 1,828 3,236 (376 ) 422 2,393 3,826 722
Investments in equity securities still held	The total fair values of the Company's investments in debt and equity securities are as follows: June 30, 2019 December 31, 2018 ($000 omitted) Investments in: Debt securities 579,823 602,020 Equity securities 37,526 33,997 617,349 636,017 June 30, 2019 and 2018 related to investments in equity securities are as follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 ($000 omitted) Net investment (losses) gains recognized on equity securities during the period (264 ) 1,612 3,393 (614 ) Less: Net realized gains (losses) on equity securities sold during the period 46 (216 ) 157 (238 ) Net unrealized investment (losses) gains recognized on equity securities still held at June 30 (310 ) 1,828 3,236 (376 )
Proceeds from sale of investments in securities	Proceeds from sales of investments in securities are as follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 ($000 omitted) Proceeds from sales of debt securities 2,734 8,003 9,052 21,149 Proceeds from sales of equity securities 260 2,353 900 4,573 Total proceeds from sales of investments in securities 2,994 10,356 9,952 25,722

Estimated title losses (Tables)

Estimated title losses (Tables)	6 Months Ended
	Jun. 30, 2019
Insurance [Abstract]
Summary of estimated title losses	A summary of estimated title losses for the six months ended June 30 is as follows: 2019 2018 ($000 omitted) Balances at January 1 461,560 480,990 Provisions: Current year 33,833 41,372 Previous policy years 640 (3,694 ) Total provisions 34,473 37,678 Payments, net of recoveries: Current year (5,722 ) (5,263 ) Previous policy years (39,929 ) (33,590 ) Total payments, net of recoveries (45,651 ) (38,853 ) Effects of changes in foreign currency exchange rates (174 ) (4,355 ) Balances at June 30 450,208 475,460 Loss ratios as a percentage of title operating revenues: Current year provisions 4.1 % 4.6 % Total provisions 4.1 % 4.2 %

Earnings per share (Tables)

Earnings per share (Tables)	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Schedule of earnings per share, basic and diluted	The calculation of the basic and diluted EPS is as follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 ($000 omitted, except per share) Numerator: Net income attributable to Stewart 19,306 22,378 12,540 18,598 Denominator (000): Basic average shares outstanding 23,614 23,546 23,605 23,527 Average number of dilutive shares relating to grants of restricted shares and units 144 79 145 80 Basic and diluted average shares outstanding 23,758 23,625 23,750 23,607 Basic earnings per share attributable to Stewart 0.82 0.95 0.53 0.79 Diluted earnings per share attributable to Stewart 0.81 0.95 0.53 0.79

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Schedule of lease cost	Lease-related assets and liabilities as of June 30, 2019 are as follows ($000 omitted): Assets: Operating lease assets, net of accumulated amortization 102,134 Finance lease assets, net of accumulated depreciation 1,369 Total lease assets 103,503 Liabilities: Operating lease liabilities 114,022 Finance lease liabilities 4,975 Total lease liabilities 118,997
Future minimum lease payments under non-cancellable operating lease	Other information related to operating and finance leases during the six months ended June 30, 2019 is as follows: Operating Finance Cash paid for amounts included in the measurement of lease liabilities ($000) 22,167 1,734 Lease assets obtained in exchange for lease obligations ($000) 33,419 — Weighted average remaining lease term (years): 4.7 2.7 Weighted average discount rate 4.6 % 5.0 %
Future minimum lease payments under non-cancellable finance lease	Other information related to operating and finance leases during the six months ended June 30, 2019 is as follows: Operating Finance Cash paid for amounts included in the measurement of lease liabilities ($000) 22,167 1,734 Lease assets obtained in exchange for lease obligations ($000) 33,419 — Weighted average remaining lease term (years): 4.7 2.7 Weighted average discount rate 4.6 % 5.0 %

Segment information (Tables)

Segment information (Tables)	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Selected statement of operations and income (loss) information related to segments	Selected statement of income information related to these segments is as follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 ($000 omitted) Title segment: Revenues 463,636 479,125 848,074 904,536 Depreciation and amortization 5,048 5,249 10,200 10,566 Income before taxes and noncontrolling interest 39,041 37,737 38,661 42,862 Ancillary services and corporate segment: Revenues 8,439 13,744 22,521 25,563 Depreciation and amortization 727 905 1,564 1,822 Loss before taxes and noncontrolling interest (9,689 ) (6,416 ) (16,535 ) (14,796 ) Consolidated Stewart: Revenues 472,075 492,869 870,595 930,099 Depreciation and amortization 5,775 6,154 11,764 12,388 Income before taxes and noncontrolling interest 29,352 31,321 22,126 28,066
Revenues generated in domestic and all international operations	Revenues generated in the United States and all international operations are as follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 ($000 omitted) United States 441,614 460,529 818,096 873,833 International 30,461 32,340 52,499 56,266 472,075 492,869 870,595 930,099

Other comprehensive income (l_2

Other comprehensive income (loss) (Tables)	6 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Schedule of changes in the balances of each component of other comprehensive income (loss)	Changes in the balances of each component of other comprehensive income (loss) and the related tax effects are as follows: Three Months Ended Three Months Ended Before-Tax Amount Tax Expense (Benefit) Net-of-Tax Amount Before-Tax Amount Tax Expense (Benefit) Net-of-Tax Amount ($000 omitted) Net unrealized gains (losses) on investments: Change in net unrealized gains and losses on investments 6,800 1,429 5,371 (3,074 ) (646 ) (2,428 ) Less: reclassification adjustment for net losses (gains) included in net income 63 13 50 (292 ) (61 ) (231 ) 6,863 1,442 5,421 (3,366 ) (707 ) (2,659 ) Foreign currency translation adjustments 3,378 903 2,475 (4,575 ) (537 ) (4,038 ) Other comprehensive income (loss) 10,241 2,345 7,896 (7,941 ) (1,244 ) (6,697 ) Six Months Ended Six Months Ended Before-Tax Amount Tax Expense (Benefit) Net-of-Tax Amount Before-Tax Amount Tax Expense (Benefit) Net-of-Tax Amount ($000 omitted) Net unrealized gains (losses) on investments: Change in net unrealized gains and losses on investments 18,206 3,824 14,382 (13,208 ) (2,774 ) (10,434 ) Less: reclassification adjustment for net losses (gains) included in net income 268 56 212 (607 ) (127 ) (480 ) 18,474 3,880 14,594 (13,815 ) (2,901 ) (10,914 ) Foreign currency translation adjustments 8,926 1,863 7,063 (6,854 ) (1,224 ) (5,630 ) Other comprehensive income (loss) 27,400 5,743 21,657 (20,669 ) (4,125 ) (16,544 )

Interim financial statements -

Interim financial statements - Restrictions on Cash and Investments (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Investments restricted for statutory reserve funds	$ 444.4	$ 462.2
Restricted cash and cash equivalent	$ 65.7	$ 37.7

Interim financial statements _2

Interim financial statements - Recently Adopted Accounting Standard (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right-of-use assets	$ 102,134	$ 99,800	$ 0
Lease liabilities	114,022	99,800	0
Accounts payable and accrued liabilities	$ (85,436)		$ (109,283)
ASU 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right-of-use assets		10,700
Accounts payable and accrued liabilities		$ 10,700

Interim financial statements _3

Interim financial statements - Merger Agreement (Details) - FNF	Mar. 18, 2018extension
Business Acquisition [Line Items]
Number of extensions per merger agreement	2
Extension period for merger agreement	3 months

Revenues (Details)

Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Revenues	$ 472,075	$ 492,869	$ 870,595	$ 930,099
Title insurance premiums, Direct
Disaggregation of Revenue [Line Items]
Revenues	162,367	158,947	274,285	291,708
Title insurance premiums, Agency
Disaggregation of Revenue [Line Items]
Revenues	230,817	247,257	445,680	484,111
Escrow fees
Disaggregation of Revenue [Line Items]
Revenues	36,611	35,468	61,904	63,335
Search, abstract and valuation services
Disaggregation of Revenue [Line Items]
Revenues	19,248	25,114	42,187	46,901
Other revenues
Disaggregation of Revenue [Line Items]
Revenues	17,455	18,443	32,834	33,371
Operating revenues
Disaggregation of Revenue [Line Items]
Revenues	$ 466,498	$ 485,229	$ 856,890	$ 919,426

Investments in debt and equit_3

Investments in debt and equity securities - Investments in Debt and Equity Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Debt securities	$ 579,823	$ 602,020
Equity securities	37,526	33,997
Investments in debt and equity securities	$ 617,349	$ 636,017

Investments in debt and equit_4

Investments in debt and equity securities - Additional Information (Details) $ in Millions	Jun. 30, 2019USD ($)investment	Dec. 31, 2018USD ($)
Investments, Debt and Equity Securities [Abstract]
Net unrealized investment gains on equity securities held | $	$ 6.4	$ 2.9
Number of investments in an unrealized loss position	61
Number of investments in an unrealized loss positions for more than 12 months	53

Investments in debt and equit_5

Investments in debt and equity securities - Amortized Costs and Fair Values (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Amortized costs	$ 568,015	$ 608,686
Fair values	579,823	602,020
Municipal
Debt Securities, Available-for-sale [Line Items]
Amortized costs	60,141	61,779
Fair values	61,578	61,934
Corporate
Debt Securities, Available-for-sale [Line Items]
Amortized costs	311,687	333,289
Fair values	319,745	328,495
Foreign
Debt Securities, Available-for-sale [Line Items]
Amortized costs	189,650	200,667
Fair values	192,068	198,938
U.S. Treasury Bonds
Debt Securities, Available-for-sale [Line Items]
Amortized costs	6,537	12,951
Fair values	$ 6,432	$ 12,653

Investments in debt and equit_6

Investments in debt and equity securities - Gross Unrealized Gains and Losses (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Gains	$ 12,653	$ 3,780
Losses	845	10,446
Municipal
Debt Securities, Available-for-sale [Line Items]
Gains	1,439	482
Losses	2	327
Corporate
Debt Securities, Available-for-sale [Line Items]
Gains	8,184	1,894
Losses	126	6,688
Foreign
Debt Securities, Available-for-sale [Line Items]
Gains	3,022	1,402
Losses	604	3,131
U.S. Treasury Bonds
Debt Securities, Available-for-sale [Line Items]
Gains	8	2
Losses	$ 113	$ 300

Investments in debt and equit_7

Investments in debt and equity securities - Debt Securities According to Contractual Terms (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Amortized costs
In one year or less	$ 50,679
After one year through five years	330,611
After five years through ten years	155,433
After ten years	31,292
Amortized costs, total	568,015	$ 608,686
Fair values
In one year or less	50,634
After one year through five years	335,702
After five years through ten years	160,440
After ten years	33,047
Fair values, total	$ 579,823	$ 602,020

Investments in debt and equit_8

Investments in debt and equity securities - Gross Unrealized Losses on Investments and Fair Values of Related Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Losses
Less than 12 months	$ 31	$ 4,665
More than 12 months	814	5,781
Total	845	10,446
Fair values
Less than 12 months	21,696	226,755
More than 12 months	88,014	233,026
Total	109,710	459,781
Municipal
Losses
Less than 12 months	0	91
More than 12 months	2	236
Total	2	327
Fair values
Less than 12 months	0	13,366
More than 12 months	506	11,645
Total	506	25,011
Corporate
Losses
Less than 12 months	1	4,416
More than 12 months	125	2,272
Total	126	6,688
Fair values
Less than 12 months	80	201,965
More than 12 months	22,619	71,044
Total	22,699	273,009
Foreign
Losses
Less than 12 months	30	158
More than 12 months	574	2,973
Total	604	3,131
Fair values
Less than 12 months	21,616	11,424
More than 12 months	59,053	137,793
Total	80,669	149,217
U.S. Treasury Bonds
Losses
Less than 12 months	0	0
More than 12 months	113	300
Total	113	300
Fair values
Less than 12 months	0	0
More than 12 months	5,836	12,544
Total	$ 5,836	$ 12,544

Fair value measurements (Detail

Fair value measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	$ 579,823	$ 602,020
Equity securities	37,526	33,997
Investments in debt and equity securities	617,349	636,017
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	37,526	33,997
Investments in debt and equity securities	37,526	33,997
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Investments in debt and equity securities	579,823	602,020
Municipal
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	61,578	61,934
Municipal | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	0	0
Municipal | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	61,578	61,934
Corporate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	319,745	328,495
Corporate | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	0	0
Corporate | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	319,745	328,495
Foreign
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	192,068	198,938
Foreign | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	0	0
Foreign | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	192,068	198,938
U.S. Treasury Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	6,432	12,653
U.S. Treasury Bonds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	0	0
U.S. Treasury Bonds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	$ 6,432	$ 12,653

Investment and other gains - _3

Investment and other gains - net - Gross Realized Investment and Other Gains and Losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Investments, Debt and Equity Securities [Abstract]
Investment and other gains	$ 791	$ 603	$ 953	$ 1,166
Investment and other losses	(59)	(38)	(363)	(68)
Net unrealized investment (losses) gains recognized on equity securities still held at June 30	(310)	1,828	3,236	(376)
Investment and other gains (losses) – net	$ 422	$ 2,393	$ 3,826	$ 722

Investment and other gains - _4

Investment and other gains - net - Net Gains on Investments in Equity Securities Still Held (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Investments, Debt and Equity Securities [Abstract]
Net investment (losses) gains recognized on equity securities during the period	$ (264)	$ 1,612	$ 3,393	$ (614)
Less: Net realized gains (losses) on equity securities sold during the period	46	(216)	157	(238)
Net unrealized investment (losses) gains recognized on equity securities still held at June 30	$ (310)	$ 1,828	$ 3,236	$ (376)

Investment and other gains - _5

Investment and other gains - net - Proceeds from the Sale of Investments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Investments, Debt and Equity Securities [Abstract]
Proceeds from sales of debt securities	$ 2,734	$ 8,003	$ 9,052	$ 21,149
Proceeds from sales of equity securities	260	2,353	900	4,573
Total proceeds from sales of investments in securities	$ 2,994	$ 10,356	$ 9,952	$ 25,722

Estimated title losses (Details

Estimated title losses (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Balances at beginning of period	$ 461,560	$ 480,990	$ 480,990
Provisions:
Current year	33,833	41,372
Previous policy years	640	(3,694)	4,000
Total provisions	34,473	37,678
Payments, net of recoveries:
Current year	(5,722)	(5,263)
Previous policy years	(39,929)	(33,590)
Total payments, net of recoveries	(45,651)	(38,853)
Effects of changes in foreign currency exchange rates	(174)	(4,355)
Balances at end of period	$ 450,208	$ 475,460	$ 461,560
Loss ratios as a percentage of title operating revenues:
Current year provisions	4.10%	4.60%
Total provisions	4.10%	4.20%

Share-based payments (Details)

Share-based payments (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Time-Based Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Performance-Based Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate fair values at grant date	$ 4.5
Share-based incentives, shares issued	104
Average grant price (in usd per share)	$ 43.22
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate fair values at grant date		$ 4.7
Share-based incentives, shares issued		109
Average grant price (in usd per share)		$ 43.39

Earnings per share (Details)

Earnings per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Numerator:
Net income attributable to Stewart	$ 19,306	$ 22,378	$ 12,540	$ 18,598
Denominator (000):
Basic average shares outstanding	23,614	23,546	23,605	23,527
Average number of dilutive shares relating to grants of restricted shares and units	144	79	145	80
Basic and diluted average shares outstanding	23,758	23,625	23,750	23,607
Basic earnings per share attribute to Stewart (in usd per share)	$ 0.82	$ 0.95	$ 0.53	$ 0.79
Diluted earnings per share attribute to Stewart (in usd per share)	$ 0.81	$ 0.95	$ 0.53	$ 0.79

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Leases [Abstract]
Operating lease expense	$ 11.4	$ 22.9
Short-term lease expense	1.1	2.1
Total finance lease expense	$ 0.5	$ 1.1

Leases - Classification of Leas

Leases - Classification of Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Assets:
Operating lease assets, net of accumulated amortization	$ 102,134	$ 99,800	$ 0
Finance lease assets, net of accumulated depreciation	1,369
Total lease assets	103,503
Liabilities:
Operating lease liabilities	114,022	$ 99,800	$ 0
Finance lease liabilities	4,975
Total lease liabilities	$ 118,997

Leases - Other Information Rela

Leases - Other Information Related to Leases (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Operating
Cash paid for amounts included in the measurement of lease liabilities	$ 22,167
Lease assets obtained in exchange for lease obligations	$ 33,419
Weighted average remaining lease term (years)	4 years 8 months 12 days
Weighted average discount rate	4.60%
Finance
Cash paid for amounts included in the measurement of lease liabilities	$ 1,734
Lease assets obtained in exchange for lease obligations	$ 0
Weighted average remaining lease term (years)	2 years 8 months 12 days
Weighted average discount rate	5.00%

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Operating
2019 (excludes the six months ended June 30, 2019)	$ 20,396
2020	33,926
2021	25,264
2022	18,186
2023	12,907
Thereafter	21,809
Total future minimum lease payments	132,488
Less: imputed interest	(18,466)
Net future minimum lease payments	114,022	$ 99,800	$ 0
Finance
2019 (excludes the six months ended June 30, 2019)	1,342
2020	1,913
2021	957
2022	957
2023	80
Thereafter	0
Total future minimum lease payments	5,249
Less: imputed interest	(274)
Net future minimum lease payments	$ 4,975

Contingent liabilities and co_2

Contingent liabilities and commitments (Details) $ in Millions	Jun. 30, 2019USD ($)
Commitments and Contingencies Disclosure [Abstract]
Guarantee of indebtedness, relating to unused letters of credit	$ 5.4

Segment information - Additiona

Segment information - Additional Information (Details)	6 Months Ended
	Jun. 30, 2019segment
Segment Reporting [Abstract]
Number of operating segments	2

Segment information - Selected

Segment information - Selected Statement of Operations and Income (Loss) Information Related to Segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Segment Reporting Information [Line Items]
Revenues	$ 472,075	$ 492,869	$ 870,595	$ 930,099
Depreciation and amortization	5,775	6,154	11,764	12,388
Income (loss) before taxes and noncontrolling interest	29,352	31,321	22,126	28,066
Title segment
Segment Reporting Information [Line Items]
Revenues	463,636	479,125	848,074	904,536
Depreciation and amortization	5,048	5,249	10,200	10,566
Income (loss) before taxes and noncontrolling interest	39,041	37,737	38,661	42,862
Ancillary services and corporate segment
Segment Reporting Information [Line Items]
Revenues	8,439	13,744	22,521	25,563
Depreciation and amortization	727	905	1,564	1,822
Income (loss) before taxes and noncontrolling interest	$ (9,689)	$ (6,416)	$ (16,535)	$ (14,796)

Segment information - Revenues

Segment information - Revenues Generated in United States and All International Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Segment Reporting Information [Line Items]
Revenues	$ 472,075	$ 492,869	$ 870,595	$ 930,099
United States
Segment Reporting Information [Line Items]
Revenues	441,614	460,529	818,096	873,833
International
Segment Reporting Information [Line Items]
Revenues	$ 30,461	$ 32,340	$ 52,499	$ 56,266

Other comprehensive income (l_3

Other comprehensive income (loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Before-Tax Amount
Other comprehensive income (loss)	$ 10,241	$ (7,941)	$ 27,400	$ (20,669)
Tax Expense (Benefit)
Other comprehensive income (loss)	2,345	(1,244)	5,743	(4,125)
Net-of-Tax Amount
Other comprehensive income (loss)	7,896	(6,697)	21,657	(16,544)
Net unrealized (losses) gains on investments
Before-Tax Amount
Change in net unrealized gains and losses on investments	6,800	(3,074)	18,206	(13,208)
Less: reclassification adjustment for net losses (gains) included in net income	63	(292)	268	(607)
Other comprehensive income (loss)	6,863	(3,366)	18,474	(13,815)
Tax Expense (Benefit)
Change in net unrealized gains and losses on investments	1,429	(646)	3,824	(2,774)
Less: reclassification adjustment for net losses (gains) included in net income	13	(61)	56	(127)
Other comprehensive income (loss)	1,442	(707)	3,880	(2,901)
Net-of-Tax Amount
Change in net unrealized gains and losses on investments	5,371	(2,428)	14,382	(10,434)
Less: reclassification adjustment for net losses (gains) included in net income	50	(231)	212	(480)
Other comprehensive income (loss)	5,421	(2,659)	14,594	(10,914)
Foreign currency translation adjustments
Before-Tax Amount
Other comprehensive income (loss)	3,378	(4,575)	8,926	(6,854)
Tax Expense (Benefit)
Other comprehensive income (loss)	903	(537)	1,863	(1,224)
Net-of-Tax Amount
Other comprehensive income (loss)	$ 2,475	$ (4,038)	$ 7,063	$ (5,630)

Uncategorized Items - q2-2019st

Label	Element	Value
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 0
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	3,592,000
AOCI Attributable to Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (3,592,000)