Note 4 - Segment Reporting Level 3 (Tables)

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]

The reconciliation of adjusted pretax operating income (loss) for our reportable segments to consolidated pretax income is as follows:

	December 31,
(In thousands)	2019			2018			2017
Adjusted pretax operating income (loss):
Mortgage insurance	$	868,898		$	772,614		$	651,015
Services (1)	(14,263		)	(27,119		)	(33,840		)
Net gains (losses) on investments and other financial instruments	51,719			(42,476		)	3,621
Loss on extinguishment of debt	(22,738		)	—			(51,469		)
Impairment of goodwill	(4,828		)	—			(184,374		)
Amortization and impairment of other acquired intangible assets	(22,288		)	(12,429		)	(27,671		)
Impairment of other long-lived assets and other non-operating items	(7,507		)	(6,404		)	(10,545		)
Consolidated pretax income	$	848,993		$	684,186		$	346,737

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(1)

Includes inter-segment revenues as reflected in the tables below.

Reconciliation of Revenue from Segments to Consolidated [Table Text Block]

The following tables reconcile reportable segment revenues to consolidated revenues and summarize interest expense, depreciation expense, allocation of corporate operating expenses and adjusted pretax operating income for our reportable segments as follows:

	December 31, 2019
(In thousands)	Mortgage Insurance		Services		Reportable Segment Total		Inter-segment			Adjustments		Consolidated Total
Premiums earned	$	1,134,214	$	11,135	$	1,145,349	$	—		$	—	$	1,145,349
Services revenue	—		158,629		158,629		(4,033		)	—		154,596
Net investment income	171,116		680		171,796		—			—		171,796
Other income	3,495		—		3,495		—			—		3,495
Add: Net gains (losses) on investments and other financial instruments	—		—		—		—			51,719		51,719
Total revenues	$	1,308,825	$	170,444	$	1,479,269	$	(4,033	)	$	51,719	$	1,526,955
Other segment information:
Interest expense	$	56,310	$	—	$	56,310
Depreciation	15,317		3,684		19,001
Allocation of corporate operating expenses (1)	104,078		16,943		121,021

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(1) Includes additional depreciation expense of $1.6 million, $0.2 million and $1.8 million allocated to Mortgage Insurance, Services and Reportable Segment Total, respectively.

	December 31, 2018
(In thousands)	Mortgage Insurance		Services		Reportable Segment Total		Inter-segment			Adjustments			Consolidated Total
Premiums earned	$	1,006,721	$	7,286	$	1,014,007	$	—		$	—		$	1,014,007
Services revenue	—		148,217		148,217		(3,245		)	—			144,972
Net investment income	152,102		373		152,475		—			—			152,475
Other income	2,794		1,234		4,028		—			—			4,028
Add: Net gains (losses) on investments and other financial instruments	—		—		—		—			(42,476		)	(42,476		)
Total revenues	$	1,161,617	$	157,110	$	1,318,727	$	(3,245	)	$	(42,476	)	$	1,273,006
Other segment information:
Interest expense	$	43,685	$	17,805	$	61,490
Depreciation	15,229		3,563		18,792
Allocation of corporate operating expenses (1)	80,134		11,974		92,108

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(1) Includes additional depreciation expense of $0.5 million, $0.1 million and $0.6 million allocated to Mortgage Insurance, Services and Reportable Segment Total, respectively.

	December 31, 2017
(In thousands)	Mortgage Insurance		Services		Reportable Segment Total		Inter-segment			Adjustments		Consolidated Total
Premiums earned	$	932,773	$	—	$	932,773	$	—		$	—	$	932,773
Services revenue	—		161,833		161,833		(6,730		)	—		155,103
Net investment income	127,248		—		127,248		—			—		127,248
Other income	2,886		—		2,886		—			—		2,886
Add: Net gains (losses) on investments and other financial instruments	—		—		—		—			3,621		3,621
Total revenues	$	1,062,907	$	161,833	$	1,224,740	$	(6,730	)	$	3,621	$	1,221,631
Other segment information:
Interest expense	$	45,016	$	17,745	$	62,761
Depreciation	13,315		3,758		17,073
Allocation of corporate operating expenses (1)	55,441		14,319		69,760

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(1) Includes additional depreciation expense of $0.2 million, $0.1 million and $0.3 million allocated to Mortgage Insurance, Services and Reportable Segment Total, respectively.

Services Revenue [Table Text Block]

The table below represents the disaggregation of services revenues by revenue type:

	Year Ended December 31,
(In thousands)	2019		2018		2017
Services revenue
Mortgage Services (1)	$	74,007	$	76,050	$	77,121
Real Estate Services	64,945		60,059		54,649
Title Services	15,644		8,863		23,333
Total services revenue	$	154,596	$	144,972	$	155,103

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(1)

Includes $48.4 million, $50.8 million and $46.1 million for the years ended December 31, 2019, 2018 and 2017, respectively, related to Clayton, which was sold in January 2020.

Balances Related to Services Contracts [Table Text Block]

The following represents balances related to service revenue contracts as of the dates indicated:

(In thousands)	December 31, 2019 (1)		December 31, 2018
Accounts receivable	$	10,773	$	15,461
Unbilled receivables	13,772		19,917
Deferred revenues	1,784		3,204

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(1)

Excludes $10.5 million and $3.9 million of accounts receivable and unbilled receivables, respectively, that are related to Clayton and classified as held-for-sale