Note 8 - Segment Information

3 Months Ended

Mar. 31, 2023

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

8. 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, owns and operates a portfolio of single-tenant properties leased entirely 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 three months ended March 31, 2023 (in thousands):

	Title Insurance			Real Estate Related		Reinsurance Related		Management Services Related		Corporate and Other			Total
Insurance and other services revenue	$	1,938		$	-	$	-	$	3	$	-		$	1,941
Cost of revenues		(206	)		-		-		-		-			(206	)
Gross profit	$	1,732		$	-	$	-	$	3	$	-		$	1,735
Operating expenses		(2,428	)		-		-		-		(382	)		(2,810	)
Other income and expenses		45			135		-		-		66			246
(Loss) income before income taxes	$	(651	)	$	135	$	-	$	3	$	(316	)	$	(829	)
Total assets	$	23,371		$	10,687	$	7,236	$	959	$	9,196		$	51,449

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

	Title Insurance			Real Estate Related		Reinsurance Related		Management Services Related		Corporate and Other			Total
Insurance and other services revenue	$	1,481		$	-	$	-	$	-	$	-		$	1,481
Cost of revenues		(80	)		-		-		-		-			(80	)
Gross profit	$	1,401		$	-	$	-	$	-	$	-		$	1,401
Operating expenses		(1,857	)		-		-		-		(285	)		(2,142	)
Other income and expenses		1			163		-		-		-			164
(Loss) income before income taxes	$	(455	)	$	163	$	-	$	-	$	(285	)	$	(577	)
Total assets	$	26,104		$	11,316	$	-	$	-	$	6,735		$	44,155