Note 17 - Segment Information

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

17.         Segment Information

The Company has four reportable segments, title insurance services, reinsurance, management services, and real estate. The remaining immaterial segments have been combined into a group called “Corporate and Other.” The title insurance segment issues title insurance policies, which insures titles to real estate, and provides title agency services for residential and commercial real estate transactions. The real estate segment, through an affiliate investment in HC Realty, an internally-managed real estate investment trust focused on acquiring, developing, financing, owning and managing build-to-suit or renovate-to-suit, single-tenant properties leased primarily to the U.S. government and administered by the U.S. General Services Administration or directly by the federal government agencies or sub-agencies occupying such properties.

Provided below is selected financial information about the Company’s operations by segment for the year ended December 31, 2022 (in thousands):

	Title Insurance			Real Estate Related		Reinsurance Related			Management Services Related			Corporate and Other			Total
Insurance and other services revenue	$	6,796		$	-	$	6,330		$	1,356		$	-		$	14,482
Cost of revenues		(408	)		-		-			-			-			(408	)
Gross profit	$	6,388		$	-	$	6,330		$	1,356		$	-		$	14,074
Operating expenses		(8,526	)		-		(94	)		(400	)		(1,220	)		(10,240	)
Other income and expenses		89			590		-			-			(830	)		(151	)
(Loss) income before income taxes	$	(2,161	)	$	590	$	6,236		$	956		$	(2,050	)	$	3,683
Total assets	$	12,994		$	11,148	$	6,236		$	956		$	9,679		$	41,013

Provided below is selected financial information about the Company’s operations by segment for the year ended December 31, 2021 (in thousands):

	Title Insurance			Real Estate Related		Reinsurance Related		Management Services Related		Corporate and Other			Total
Insurance and other services revenue	$	984		$	-	$	-	$	-	$	-		$	984
Cost of revenues		(288	)		-		-		-		-			(288	)
Gross profit	$	696		$	-	$	-	$	-	$	-		$	696
Operating expenses		(670	)		-		-		-		(910	)		(1,580	)
Other income and expenses		3,970			494		-		-		(596	)		3,868
Income (loss) before income taxes	$	3,996		$	494	$	-	$	-	$	(1,506	)	$	2,984
Total assets	$	18,494		$	11,673	$	-	$	-	$	6,807		$	36,974