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Stewart Information Services Corp (STC) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

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STC Annual Reports

Stewart Information Services Corp

CIK: 94344 Ticker: STC
Exhibit 99.1

Stewart Reports Fourth Quarter 2021 Results



- Operating revenues of $951.4 million, an increase of $223.1 million, or 31 percent, compared to the prior year quarter

- Net income of $85.5 million ($80.5 million on an adjusted basis) compared to $59.7 million ($56.4 million on an adjusted basis) in the prior year quarter

- Diluted EPS of $3.12 ($2.94 on an adjusted basis) compared to prior year quarter diluted EPS of $2.22 ($2.09 on an adjusted basis)

- Full year 2021 net income of $323.2 million ($304.4 million on an adjusted basis) compared to $154.9 million ($158.3 million on an adjusted basis) in the prior year

- Full year 2021 diluted EPS of $11.90 ($11.20 on an adjusted basis) compared to 2020 diluted EPS of $6.22 ($6.35 on an adjusted basis)

HOUSTON, Feb. 9, 2022 /PRNewswire/ -- Stewart Information Services Corporation (NYSE: STC) today reported net income attributable to Stewart for the fourth quarter 2021 of $85.5 million ($3.12 per diluted share), compared to net income attributable to Stewart of $59.7 million ($2.22 per diluted share) for the fourth quarter 2020. On an adjusted basis, Stewart's fourth quarter 2021 net income was $80.5 million ($2.94 per diluted share), an improvement of $24.1 million, or 43 percent, from the fourth quarter 2020. Fourth quarter 2021 pretax income before noncontrolling interests was $114.1 million compared to pretax income before noncontrolling interests of $83.9 million for the fourth quarter 2020.

Fourth quarter 2021 results included $6.5 million of pretax net realized and unrealized gains, which included $8.1 million of net unrealized gains on fair value changes of equity securities investments and $1.3 million of net gains related to acquisition contingent liability adjustments, partially offset by $2.9 million of net realized losses primarily related to sale of securities investments and other assets.

Fourth quarter 2020 results included $4.4 million of pretax net realized and unrealized gains, composed of $3.9 million of net unrealized gains on fair value changes of equity securities investments and $0.5 million of net realized gains on sale of securities investments.

"The year finished on a positive note, as improving purchase, commercial and agency activity more than offset declining refinancing volumes. By combining this top line strength with our continued focus on operational discipline across all of our channels, the fourth quarter results further illustrate the significant progress Stewart has made in a relatively short period of time," commented Fred Eppinger, chief executive officer. "While we believe that this past quarter reflects the start of a broader market shift away from some of the interest rate-driven order activity of the past couple of years, we see opportunity in a market that is more heavily weighted to residential home buying and improving commercial activity. Our goal has always been to build a stable and resilient business that can thrive through the full real estate cycle."

Selected Financial Information
Summary results of operations are as follows (dollars in millions, except per share amounts, and amounts may not foot as presented due to rounding):


Quarter Ended

December 31,


Year Ended

December,


2021

2020


2021

2020







Total revenues

961.7

736.7


3,305.8

2,288.4

Pretax income before noncontrolling interests

114.1

83.9


434.0

218.5

Income tax expense

(23.4)

(19.5)


(94.0)

(48.8)

Net income attributable to noncontrolling interests

(5.1)

(4.7)


(16.8)

(14.8)

Net income attributable to Stewart

85.5

59.7


323.2

154.9

Non-GAAP adjustments, after taxes*

(5.0)

(3.3)


(18.8)

3.4

Adjusted net income attributable to Stewart*

80.5

56.4


304.4

158.3

Net income per diluted Stewart share

3.12

2.22


11.90

6.22

Adjusted net income per diluted Stewart share*

2.94

2.09


11.20

6.35

* See Appendix A for an explanation and reconciliation of non-GAAP adjustments.

Title Segment
Summary results of the title segment are as follows (dollars in millions, except pretax margin):


Quarter Ended December 31,



2021

2020

% Change







Operating revenues

867.8

690.2

26%


Investment income

3.7

4.1

(9%)


Net realized and unrealized gains

4.9

4.4

12%


Pretax income

118.3

94.9

25%


Pretax margin

13.5%

13.6%



Pretax income for the title segment increased by $23.4 million, or 25 percent, in the fourth quarter 2021 compared to the prior year quarter, while pretax margin was 13.5 percent in the fourth quarter 2021 which was comparable to 13.6 percent in the fourth quarter 2020. Title operating revenues in the fourth quarter 2021 grew $177.5 million, or 26 percent, as a result of improvements in direct title and gross independent agency revenues of $81.9 million, or 24 percent, and $95.6 million, or 27 percent, respectively. In line with higher title revenues, overall segment operating expenses in the fourth quarter 2021 increased $154.3 million, or 26 percent, primarily driven by 28 percent and 31 percent higher agency retention expenses and combined title employee costs and other operating expenses, respectively, compared to the prior year quarter. Average independent agency remittance rate in the fourth quarter 2021 was 18.0 percent, compared to 18.2 percent in the prior year quarter. As a percentage of title revenues, combined title employee costs and other operating expenses increased to 40.6 percent in the fourth quarter 2021 compared to 38.8 percent in the fourth quarter 2020, primarily due to office consolidation costs and state sales tax assessments.

Title loss expense decreased $13.1 million, or 28 percent, in the fourth quarter 2021 compared to the prior year quarter, primarily due to favorable claims experience which was partially offset by higher title revenues. As a percentage of title revenues, the title loss expense in the fourth quarter 2021 was 3.9 percent compared to 6.8 percent in the prior year quarter. For the year, the title loss ratio was 4.2 percent compared to 5.3 percent in 2020.

The segment's net realized and unrealized gains in the fourth quarter 2021 primarily included $8.1 million of net unrealized gains on fair value changes of equity securities investments, $2.0 million of net losses related to acquisition contingent liability adjustments, and $0.8 million of net realized losses on sale of securities investments, while net realized and unrealized gains in the fourth quarter 2020 were related to $3.9 million of net unrealized gains on fair value changes of equity securities investments and $0.5 million of net realized gains on sale of securities investments. Investment income in the fourth quarter 2021 was slightly lower compared to the prior year quarter, primarily due to lower interest income resulting from lower interest rates.

Direct title revenues information is presented below (dollars in millions):


Quarter Ended December 31,



2021

2020

% Change









Non-commercial:






Domestic

282.3

239.7

18%



International

38.3

35.7

7%



Commercial:






Domestic

93.1

58.1

60%



International

9.4

7.7

22%



Total direct title revenues

423.1

341.2

24%








Overall revenue improvements in both non-commercial and commercial operations contributed to higher direct title revenues in the fourth quarter 2021 compared to the prior year quarter. Non-commercial revenues increased $45.2 million, or 16 percent, primarily driven by increased residential purchase transactions and scale, partially offset by reduced refinancing transactions in the fourth quarter 2021 compared to the fourth quarter 2020. Domestic commercial revenues increased $35.0 million, or 60 percent, in the fourth quarter 2021, primarily due to improved commercial transaction size and volume compared to the prior year quarter. Domestic commercial and residential fees per file in the fourth quarter 2021 were approximately $19,400 and $2,700, respectively, which were 50 percent and 38 percent, respectively, higher compared to the fourth quarter 2020. Total international revenues grew $4.3 million, or 10 percent, primarily due to increased residential and commercial transaction volumes in our Canadian operations in the fourth quarter 2021 compared to the prior year quarter.

Ancillary Services and Corporate Segment
Summary results of the ancillary services and corporate segment are as follows (dollars in millions):


Quarter Ended December 31,



2021

2020

% Change







Operating revenues

83.7

38.0

120%


Net realized and unrealized gains

1.6

-

100%


Pretax loss

(4.2)

(11.0)

62%


The segment's operating revenues improved $45.6 million, or 120 percent, in the fourth quarter 2021, compared to the prior year quarter, primarily due to revenues generated by recent acquisitions and increased revenues from appraisal management and online notary services. Net realized and unrealized gains during the fourth quarter 2021 were primarily related to acquisition contingent liability net gain adjustments, which were partially offset by asset disposal charges. The ancillary services operations in the fourth quarter 2021 generated pretax income of $5.3 million (which included $3.3 million of net gains related to acquisition contingent liability adjustments and $5.6 million of purchased intangibles amortization expense), compared to a fourth quarter 2020 pretax loss of $0.6 million (which included $1.6 million of purchased intangibles amortization expense).

Net expenses attributable to parent company and corporate operations in the fourth quarter 2021 were approximately $7.9 million, which included increased interest expense resulting from newly issued debt, while net expenses for the fourth quarter 2020 were approximately $10.4 million, which included costs related to charitable contributions and consulting fees.

Expenses
Consolidated employee costs in the fourth quarter 2021 increased $37.1 million, or 20 percent, compared to the fourth quarter 2020, primarily driven by increased salaries and employee benefits (due to a 22 percent higher average employee count driven by acquisitions) and higher incentive compensation on improved overall operating results. As a percentage of total operating revenues, consolidated employee costs for the fourth quarter 2021 improved to 23.3 percent compared to 25.3 percent in the prior year quarter.

Total other operating expenses in the fourth quarter 2021 increased $80.7 million, or 62 percent, compared to the prior year quarter. This increase was primarily driven by increased service expenses tied to higher ancillary services revenues, higher outside title search and premium tax expenses on improved title revenues, state sales tax assessments and office consolidation costs. As a percentage of total operating revenues, consolidated other operating expenses for the fourth quarter 2021 increased to 22.2 percent, compared to 17.9 percent in the fourth quarter 2020, primarily due to the increased size of our ancillary and other real estate services operations, which typically have higher operating expenses, driven by 2021 acquisitions.

Other
Net cash provided by operations in the fourth quarter 2021 was $133.0 million, compared to net cash provided by operations of $134.9 million in the fourth quarter 2020.

Fourth Quarter Earnings Call
Stewart will hold a conference call to discuss the fourth quarter 2021 earnings at 8:30 a.m. Eastern Time on Thursday, February 10, 2022. To participate, dial (800) 891-3968 (USA) and (203) 518-9544 (International) - access code STCQ421. Additionally, participants can listen to the conference call through Stewart's Investor Relations website at http://investors.stewart.com/news-and-events/events/default.aspx. The conference call replay will be available from 11:00 a.m. Eastern Time on February 10, 2022 until midnight on February 17, 2022, by dialing (800) 938-1584 (USA) or (402) 220-1542 (International) - the access code is also STCQ421.

About Stewart
Stewart (NYSE:STC) is a global real estate services company, offering products and services through our direct operations, network of Stewart Trusted Providers™ and family of companies. From residential and commercial title insurance and closing and settlement services to specialized offerings for the mortgage industry, we offer the comprehensive service, deep expertise and solutions our customers need for any real estate transaction. More information can be found at http://www.stewart.com, subscribe to the Stewart blog at http://blog.stewart.com or follow Stewart on Twitter® @stewarttitleco.

Cautionary statement regarding forward-looking statements. Certain statements in this earnings release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements relate to future, not past, events and often address our expected future business and financial performance. These statements often contain words such as "may," "expect," "anticipate," "intend," "plan," "believe," "seek," "will," "foresee" or other similar words. Forward-looking statements by their nature are subject to various risks and uncertainties that could cause our actual results to be materially different than those expressed in the forward-looking statements. These risks and uncertainties include, among other things, the volatility of economic conditions, including the duration and ultimate impact of the COVID-19 pandemic; adverse changes in the level of real estate activity; changes in mortgage interest rates, existing and new home sales, and availability of mortgage financing; our ability to respond to and implement technology changes, including the completion of the implementation of our enterprise systems; the impact of unanticipated title losses or the need to strengthen our policy loss reserves; any effect of title losses on our cash flows and financial condition; the ability to attract and retain highly productive sales associates; the impact of vetting our agency operations for quality and profitability; independent agency remittance rates; changes to the participants in the secondary mortgage market and the rate of refinancing that affects the demand for title insurance products; regulatory non-compliance, fraud or defalcations by our title insurance agencies or employees; our ability to timely and cost-effectively respond to significant industry changes and introduce new products and services; the outcome of pending litigation; the impact of changes in governmental and insurance regulations, including any future reductions in the pricing of title insurance products and services; our dependence on our operating subsidiaries as a source of cash flow; our ability to access the equity and debt financing markets when and if needed; our ability to grow our international operations; seasonality and weather; and our ability to respond to the actions of our competitors. These risks and uncertainties, as well as others, are discussed in more detail in our documents filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2020, and if applicable, as supplemented by any risk factors contained in our Quarterly Reports on Form 10-Q, and our Current Reports on Form 8-K filed subsequently. All forward-looking statements included in this earnings release are expressly qualified in their entirety by such cautionary statements. We expressly disclaim any obligation to update, amend or clarify any forward-looking statements contained in this earnings release to reflect events or circumstances that may arise after the date hereof, except as may be required by applicable law.

ST-IR

STEWART INFORMATION SERVICES CORPORATION
CONDENSED STATEMENTS OF INCOME
(In thousands of dollars, except per share amounts and except where noted)



Quarter Ended

December 31,


Year Ended December 31,


2021

2020


2021

2020

Revenues:






Title revenues:






Direct operations

423,146

341,241


1,422,244

1,037,852

Agency operations

444,617

349,008


1,582,640

1,151,030

Ancillary services

83,675

38,048


259,732

82,621

Total operating revenues

951,438

728,297


3,264,616

2,271,503

Investment income

3,728

4,077


16,855

18,607

Net realized and unrealized gains (losses)

6,505

4,357


24,321

(1,678)


961,671

736,731


3,305,792

2,288,432

Expenses:






Amounts retained by agencies

364,570

285,342


1,300,431

944,480

Employee costs

221,517

184,377


776,968

613,195

Other operating expenses

210,898

130,184


626,762

375,188

Title losses and related claims

33,556

46,625


126,243

115,224

Depreciation and amortization

13,992

5,780


36,386

19,216

Interest

3,071

550


5,031

2,624


847,604

652,858


2,871,821

2,069,927

Income before taxes and noncontrolling interests

114,067

83,873


433,971

218,505

Income tax expense

(23,442)

(19,540)


(93,989)

(48,833)

Net income

90,625

64,333


339,982

169,672

Less net income attributable to noncontrolling interests

5,127

4,660


16,766

14,767

Net income attributable to Stewart

85,498

59,673


323,216

154,905







Net earnings per diluted share attributable to Stewart

3.12

2.22


11.90

6.22

Diluted average shares outstanding (000)

27,405

26,908


27,168

24,913







Selected financial information:






Net cash provided by operations

132,974

134,945


390,291

275,806

Other comprehensive (loss) income

(4,524)

8,346


(16,769)

19,721

Fourth Quarter Domestic Order Counts:








Opened Orders 2021:

Oct

Nov

Dec

Total


Closed Orders 2021:

Oct

Nov

Dec

Total

Commercial

1,292

1,315

1,871

4,478


Commercial

1,341

1,264

2,191

4,796

Purchase

22,331

21,281

18,759

62,371


Purchase

18,578

18,507

20,047

57,132

Refinancing

18,377

17,310

15,100

50,787


Refinancing

15,651

15,752

13,863

45,266

Other

674

412

413

1,499


Other

449

438

357

1,244

Total

42,674

40,318

36,143

119,135


Total

36,019

35,961

36,458

108,438












Opened Orders 2020:

Oct

Nov

Dec

Total


Closed Orders 2020:

Oct

Nov

Dec

Total

Commercial

1,448

1,366

1,653

4,467


Commercial

1,335

1,355

1,796

4,486

Purchase

24,787

20,996

20,051

65,834


Purchase

19,086

16,601

19,719

55,406

Refinancing

27,726

25,596

27,424

80,746


Refinancing

22,954

20,221

21,682

64,857

Other

590

524

461

1,575


Other

431

439

408

1,278

Total

54,551

48,482

49,589

152,622


Total

43,806

38,616

43,605

126,027

STEWART INFORMATION SERVICES CORPORATION

CONDENSED BALANCE SHEETS

(In thousands of dollars)



 

 

December 31, 2021

 

December 31, 2020

Assets:



Cash and cash equivalents

485,919

432,683

Short-term investments

17,650

20,678

Investments in debt and equity securities, at fair value

679,214

684,387

Receivables – premiums from agencies

45,428

34,507

Receivables – other

81,623

58,112

Allowance for uncollectible amounts

(7,711)

(4,807)

Property and equipment, net

72,456

51,671

Operating lease assets, net

134,578

106,479

Title plants

76,859

72,863

Goodwill

924,837

431,477

Intangible assets, net of amortization

229,804

37,382

Deferred tax assets

3,846

4,330

Other assets

68,859

48,813


2,813,362

1,978,575

Liabilities:



Notes payable

483,491

101,773

Accounts payable and accrued liabilities

287,326

225,180

Operating lease liabilities

149,417

119,089

Estimated title losses

549,614

496,275

Deferred tax liabilities

48,779

23,852


1,518,627

966,169

Stockholders' equity:



Common Stock and additional paid-in capital

309,622

301,937

Retained earnings

974,800

688,819

Accumulated other comprehensive income

253

17,022

Treasury stock

(2,666)

(2,666)

Stockholders' equity attributable to Stewart

1,282,009

1,005,112

Noncontrolling interests

12,726

7,294

Total stockholders' equity

1,294,735

1,012,406


2,813,362

1,978,575




Number of shares outstanding (000)

26,893

26,728

Book value per share

47.67

37.60

STEWART INFORMATION SERVICES CORPORATION

SEGMENT INFORMATION

(In thousands of dollars)


 

Three months ended:

December 31, 2021


December 31, 2020


Title

Ancillary Services and Corporate

Consolidated


Title

Ancillary Services and Corporate

Consolidated

Revenues:








Operating revenues

867,763

83,675

951,438


690,249

38,048

728,297

Investment income

3,728

-

3,728


4,077

-

4,077

Net realized and unrealized gains

4,877

1,628

6,505


4,357

-

4,357


876,368

85,303

961,671


698,683

38,048

736,731

Expenses:








Amounts retained by agencies

364,570

-

364,570


285,342

-

285,342

Employee costs

206,573

14,944

221,517


175,682

8,695

184,377

Other operating expenses

145,484

65,414

210,898


92,230

37,954

130,184

Title losses and related claims

33,556

-

33,556


46,625

-

46,625

Depreciation and amortization

7,872

6,120

13,992


3,929

1,851

5,780

Interest

11

3,060

3,071



550

550


758,066

89,538

847,604


603,808

49,050

652,858

Income (loss) before taxes

118,302

(4,235)

114,067


94,875

(11,002)

83,873








 

Year ended:

December 31, 2021


December 31, 2020


Title

Ancillary Services and Corporate

Consolidated


Title

Ancillary Services and Corporate

Consolidated

Revenues:








Operating revenues

3,004,893

259,723

3,264,616


2,188,882

82,621

2,271,503

Investment income

16,855

-

16,855


18,607

-

18,607

Net realized and unrealized gains (losses)

12,570

11,751

24,321


(2,188)

510

(1,678)


3,034,318

271,474

3,305,792


2,205,301

83,131

2,288,432

Expenses:








Amounts retained by agencies

1,300,431

-

1,300,431


944,480

-

944,480

Employee costs

731,041

45,927

776,968


587,316

25,879

613,195

Other operating expenses

414,928

211,834

626,762


296,173

79,015

375,188

Title losses and related claims

126,243

-

126,243


115,224

-

115,224

Depreciation and amortization

21,451

14,935

36,386


15,230

3,986

19,216

Interest

13

5,018

5,031



2,624

2,624


2,594,107

277,714

2,871,821


1,958,423

111,504

2,069,927

Income (loss) before taxes

440,211

(6,240)

433,971


246,878

(28,373)

218,505

Appendix A
Non-GAAP Adjustments

Management uses a variety of financial and operational measurements other than its financial statements prepared in accordance with United States Generally Accepted Accounting Principles (GAAP) to analyze its performance. These include: (1) adjusted revenues, which are reported revenues adjusted for any net realized and unrealized gains and losses and (2) net income after earnings from noncontrolling interests and adjusted for net realized and unrealized gains and losses and non-recurring expenses (adjusted net income). Adjusted diluted earnings per share (adjusted diluted EPS) is calculated using adjusted net income divided by the diluted average weighted outstanding shares. Management views these measures as important performance measures of core profitability for its operations and as key components of its internal financial reporting. Management believes investors benefit from having access to the same financial measures that management uses.

Below is a reconciliation of the non-GAAP financial measurements used by management to the most directly comparable GAAP measures for the quarter and year ended December 31, 2021 and 2020 (dollars in millions, except share and per share amounts, and amounts may not foot as presented due to rounding).


Quarter Ended December 31,


Year Ended December 31,


2021

2020

%Chg


2021

2020

%Chg









Total revenues

961.7

736.7



3,305.8

2,288.4


Less: Net realized and unrealized gains (losses)

6.5

4.4



24.3

(1.7)


Adjusted revenues

955.2

732.4

30%


3,281.5

2,290.1

43%









Net income attributable to Stewart

85.5

59.7



323.2

154.9


Non-GAAP pretax adjustments:








Net realized and unrealized (gains) losses

(6.5)

(4.4)



(24.3)

1.7


Cost initiatives severance expenses

-

-



-

2.8


Net tax effects of non-GAAP adjustments

1.5

1.0



5.5

(1.1)


Non-GAAP adjustments, after taxes

(5.0)

(3.3)



(18.8)

3.4


Adjusted net income attributable to Stewart

80.5

56.4

43%


304.4

158.3

92%









Diluted average shares outstanding (000)

27,405

26,908



27,168

24,913


Adjusted net income per share

2.94

2.09



11.20

6.35












CONTACT: Nat Otis, SVP - Investor Relations/Corporate Development, (713) 625-8360


The following information was filed by Stewart Information Services Corp (STC) on Wednesday, February 9, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Stewart Information Services Corp's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Equity
Consolidated Statements Of Equity (Parenthetical)
Consolidated Statements Of Income And Comprehensive Income
Common Stock
Common Stock (Details)
Contingent Liabilities And Commitments
Contingent Liabilities And Commitments (Details)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Estimated Title Losses
Estimated Title Losses (Tables)
Estimated Title Losses - Additional Information (Details)
Estimated Title Losses - Estimated Title Losses (Details)
Fair Value Measurements
Fair Value Measurements (Details)
Fair Value Measurements (Tables)
General
General (Policies)
General - General (Details)
General - Goodwill (Details)
General - Leases (Details)
General - Other Intangibles (Details)
General - Property And Equipment (Details)
General - Title Losses And Related Claims (Details)
Goodwill And Other Intangibles
Goodwill And Other Intangibles (Tables)
Goodwill And Other Intangibles - Additional Information (Details)
Goodwill And Other Intangibles - Summary Of Goodwill (Details)
Goodwill And Other Intangibles - Summary Of Intangibles By Class (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Details)
Income Taxes - Deferred Tax Assets And Liabilities (Details)
Income Taxes - Income Tax Expense (Benefit) (Details)
Income Taxes - Reconciliation Of Income Tax Expenses Computed At Federal Statutory Rate With Income Tax Expense (Details)
Investment Income And Net Realized And Unrealized Gains
Investment Income And Net Realized And Unrealized Gains (Tables)
Investment Income And Net Realized And Unrealized Gains - Additional Information (Details)
Investment Income And Net Realized And Unrealized Gains - Income From Investments And Net Realized And Unrealized Gains (Details)
Investment Income And Net Realized And Unrealized Gains - Net Gains (Losses) On Investments In Equity Securities Still Held (Details)
Investment Income And Net Realized And Unrealized Gains - Proceeds From Sale Of Investment (Details)
Investments In Debt And Equity Securities
Investments In Debt And Equity Securities (Tables)
Investments In Debt And Equity Securities - Additional Information (Details)
Investments In Debt And Equity Securities - Amortized Costs And Fair Values (Details)
Investments In Debt And Equity Securities - Debt Securities According Contractual Terms (Details)
Investments In Debt And Equity Securities - Gross Unrealized Gains And Losses (Details)
Investments In Debt And Equity Securities - Gross Unrealized Losses On Investments And Fair Values Of Related Securities (Details)
Investments In Debt And Equity Securities - Investments In Debt And Equity Securities (Details)
Leases
Leases (Tables)
Leases - Additional Information (Details)
Leases - Classification Of Leases (Details)
Leases - Future Minimum Lease Payments (Details)
Leases - Other Information Related To Leases (Details)
Notes Payable
Notes Payable (Tables)
Notes Payable - Additional Information (Details)
Notes Payable - Summary Of Notes Payable (Details)
Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss) (Details)
Other Comprehensive Income (Loss) (Tables)
Regulatory And Legal Developments
Reinsurance
Reinsurance (Details)
Restrictions On Cash And Investments
Restrictions On Cash And Investments (Details)
Revenues
Revenues (Details)
Revenues (Tables)
Schedule I - Financial Information Of The Registrant (Parent Company)
Schedule I - Financial Information Of The Registrant (Parent Company) - Additional Information (Details)
Schedule I - Financial Information Of The Registrant (Parent Company) - Balance Sheets (Additional Information) (Details)
Schedule I - Financial Information Of The Registrant (Parent Company) - Balance Sheets (Details)
Schedule I - Financial Information Of The Registrant (Parent Company) - Statements Of Cash Flows (Details)
Schedule I - Financial Information Of The Registrant (Parent Company) - Statements Of Income And Retained Earnings (Details)
Schedule Ii - Valuation And Qualifying Accounts
Schedule Ii - Valuation And Qualifying Accounts (Details)
Segment Information
Segment Information (Tables)
Segment Information - Additional Information (Details)
Segment Information - Revenues Generated In Domestic And Foreign Country (Details)
Segment Information - Selected Statement Of Operations And Income (Loss) Information Related To Segments (Details)
Share-Based Payments
Share-Based Payments (Tables)
Share-Based Payments - Additional Information (Details)
Share-Based Payments - Schedule Of Options Activity (Details)
Share-Based Payments - Summary Of Restricted Common Stock Unit Activity (Details)
Statutory Surplus And Dividend Restrictions
Statutory Surplus And Dividend Restrictions (Details)
Ticker: STC
CIK: 94344
Form Type: 10-K Annual Report
Accession Number: 0000094344-22-000006
Submitted to the SEC: Mon Feb 28 2022 9:55:42 AM EST
Accepted by the SEC: Mon Feb 28 2022
Period: Friday, December 31, 2021
Industry: Title Insurance

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