Note 8 - Segment Information

6 Months Ended

Jun. 30, 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 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 six months ended June 30, 2023 (in thousands): 

	Title Insurance			Real Estate Related		Reinsurance Related		Management Services Related			Corporate and Other			Total
Insurance and other services revenue	$	4,589		$	-	$	300	$	756		$	-		$	5,645
Cost of revenues		(380	)		-		-		-			-			(380	)
Gross profit	$	4,209		$	-	$	300	$	756		$	-		$	5,265
Operating expenses		(5,485	)		-		-		(419	)		(809	)		(6,713	)
Other income and expenses		105			469		-		-			130			704
(Loss) income before income taxes	$	(1,171	)	$	469	$	300	$	337		$	(679	)	$	(744	)
Total assets	$	19,033		$	10,723	$	7,236	$	1,293		$	8,441		$	46,726

Provided below is selected financial information about the Company’s operations by segment for the six months ended June 30, 2022 (in thousands):

	Title Insurance			Real Estate Related		Reinsurance Related		Management Services Related		Corporate and Other			Total
Insurance and other services revenue	$	3,403		$	-	$	-	$	-	$	-		$	3,403
Cost of revenues		(238	)		-		-		-		-			(238	)
Gross profit	$	3,165		$	-	$	-	$	-	$	-		$	3,165
Operating expenses		(3,847	)		-		-		-		(566	)		(4,413	)
Other income and expenses		6			324		-		-		(22	)		308
(Loss) income before income taxes	$	(676	)	$	324	$	-	$	-	$	(588	)	$	(940	)
Total assets	$	19,771		$	11,179	$	-	$	-	$	6,669		$	37,619

Provided below is selected financial information about the Company’s operations by segment for the three months ended June 30, 2023 (in thousands):

	Title Insurance			Real Estate Related		Reinsurance Related		Management Services Related			Corporate and Other			Total
Insurance and other services revenue	$	2,652		$	-	$	300	$	753		$	-		$	3,705
Cost of revenues		(175	)		-		-		-			-			(175	)
Gross profit	$	2,477		$	-	$	300	$	753		$	-		$	3,530
Operating expenses		(3,057	)		-		-		(419	)		(427	)		(3,903	)
Other income and expenses		60			334		-		-			64			458
(Loss) income before income taxes	$	(520	)	$	334	$	300	$	334		$	(363	)	$	85
Total assets	$	19,033		$	10,723	$	7,236	$	1,293		$	8,441		$	46,726

Provided below is selected financial information about the Company’s operations by segment for the three months ended June 30, 2022 (in thousands):

	Title Insurance			Real Estate Related		Reinsurance Related		Management Services Related			Corporate and Other		Total
Insurance and other services revenue	$	1,922		$	-	$	-	$	-	$	-		$	1,922
Cost of revenues		(158	)		-		-		-		-			(158	)
Gross profit	$	1,764		$	-	$	-	$	-	$	-		$	1,764
Operating expenses		(1,990	)		-		-		-		(281	)		(2,271	)
Other income and expenses		5			161		-		-		(22	)		144
(Loss) income before income taxes	$	(222	)	$	161	$	-	$	-	$	(303	)	$	(363	)
Total assets	$	19,771		$	11,179	$	-	$	-	$	6,669		$	37,619