Investors Title Company (ITIC) financial statements (2022 and earlier)

Company profile

Business Address 121 N COLUMBIA ST
CHAPEL HILL, NC 27514
State of Incorp. NC
Fiscal Year End December 31
SIC 6361 - Title Insurance (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments83,09828,89339,08351,48143,99434,48728,655
Cash and cash equivalents37,16813,72325,94918,69420,21427,92821,790
Short-term investments45,93015,17013,13432,78723,7806,5596,865
Receivables    385  
Total current assets:83,09828,89339,08351,48144,37934,48728,655
Noncurrent Assets
Operating lease, right-of-use asset5,2023,5334,469
Property, plant and equipment13,03311,1609,77610,30410,1738,7537,149
Long-term investments and receivables   6,5895,4394,2443,588
Long-term investments   6,5895,4394,2443,588
Intangible assets, net (including goodwill), including:15,9519,77110,27510,78011,35712,2571,221
Goodwill7,2004,4004,4004,4004,3504,350 
Intangible assets, net (excluding goodwill)8,5605,4215,9266,4307,0077,9071,221
Other undisclosed intangible assets, net (including goodwill)191(50)(51)(50)   
Total noncurrent assets:34,18624,46424,52027,67326,96925,25511,958
Other undisclosed assets214,204229,568200,290165,114177,565169,196170,909
TOTAL ASSETS:331,488282,925263,893244,268248,913228,938211,522
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities3,3296381,3404,981   
Taxes payable3,3296381,3404,981   
Debt  1,048    
Total current liabilities:3,3296382,3884,981   
Noncurrent Liabilities
Long-term debt and lease obligation3,7822,6013,454    
Operating lease, liability3,7822,6013,454
Liabilities, other than long-term debt13,1218,592     
Deferred income tax liabilities13,1218,592 
Total noncurrent liabilities:16,90311,1933,454    
Other undisclosed liabilities82,16970,67266,68963,64870,99273,80268,745
Total liabilities:102,40182,50372,53168,62970,99273,80268,745
Stockholders' equity
Stockholders' equity attributable to parent229,087200,422191,362175,639177,835155,045142,670
Common stock    000
Accumulated other comprehensive income3,2264,3263,10094915,94511,76111,483
Retained earnings225,861196,096188,262174,690161,891143,284131,187
Stockholders' equity attributable to noncontrolling interest    8591107
Total stockholders' equity:229,087200,422191,362175,639177,920155,136142,777
TOTAL LIABILITIES AND EQUITY:331,488282,925263,893244,268248,913228,938211,522

Income statement (P&L) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues329,498236,408183,502156,259161,649138,492127,200
Cost of revenue(5,686)(5,204)(3,532) (3,311)(243)(4,478)
Policyholder benefits and claims incurred, net(5,686)(5,204)(3,532) 
Financial services costs(3,311)(243)(4,478)
Gross profit:323,812231,204179,970156,259158,338138,249122,722
Operating expenses(244,566)(119,663)(84,835)(77,157)(115,231)(100,742)(96,165)
Operating income:79,246111,54195,13579,10243,10737,50726,557
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes5,686(61,880)(55,312)(52,033)(12,837)(9,376)(8,780)
Income from continuing operations before income taxes:84,93249,66139,82327,06930,27128,13117,777
Income tax expense(17,912)(10,241)(8,365)(5,210)(4,570)(8,616)(5,228)
Net income:67,02039,42031,45821,85925,70119,51512,549
Net income (loss) attributable to noncontrolling interest   3368(15)
Net income available to common stockholders, diluted:67,02039,42031,45821,89225,70719,52312,534

Comprehensive Income ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income:67,02039,42031,45821,85925,70119,51512,549
Other comprehensive income (loss)(1,100)1,2262,151(1,369)4,183278(1,373)
Comprehensive income:65,92040,64633,60920,49029,88419,79411,176
Comprehensive income (loss), net of tax, attributable to noncontrolling interest   3368(15)
Comprehensive income, net of tax, attributable to parent:65,92040,64633,60920,52329,89019,80211,160

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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