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 investments | 83,098 | 28,893 | 39,083 | 51,481 | 43,994 | 34,487 | 28,655 | ||
| Cash and cash equivalents | 37,168 | 13,723 | 25,949 | 18,694 | 20,214 | 27,928 | 21,790 | ||
| Short-term investments | 45,930 | 15,170 | 13,134 | 32,787 | 23,780 | 6,559 | 6,865 | ||
| Receivables | 385 | ||||||||
| Total current assets: | 83,098 | 28,893 | 39,083 | 51,481 | 44,379 | 34,487 | 28,655 | ||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 5,202 | 3,533 | 4,469 | ✕ | ✕ | ✕ | ✕ | ||
| Property, plant and equipment | 13,033 | 11,160 | 9,776 | 10,304 | 10,173 | 8,753 | 7,149 | ||
| Long-term investments and receivables | 6,589 | 5,439 | 4,244 | 3,588 | |||||
| Long-term investments | 6,589 | 5,439 | 4,244 | 3,588 | |||||
| Intangible assets, net (including goodwill), including: | 15,951 | 9,771 | 10,275 | 10,780 | 11,357 | 12,257 | 1,221 | ||
| Goodwill | 7,200 | 4,400 | 4,400 | 4,400 | 4,350 | 4,350 | |||
| Intangible assets, net (excluding goodwill) | 8,560 | 5,421 | 5,926 | 6,430 | 7,007 | 7,907 | 1,221 | ||
| Other undisclosed intangible assets, net (including goodwill) | 191 | (50) | (51) | (50) | |||||
| Total noncurrent assets: | 34,186 | 24,464 | 24,520 | 27,673 | 26,969 | 25,255 | 11,958 | ||
| Other undisclosed assets | 214,204 | 229,568 | 200,290 | 165,114 | 177,565 | 169,196 | 170,909 | ||
| TOTAL ASSETS: | 331,488 | 282,925 | 263,893 | 244,268 | 248,913 | 228,938 | 211,522 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 3,329 | 638 | 1,340 | 4,981 | |||||
| Taxes payable | 3,329 | 638 | 1,340 | 4,981 | |||||
| Debt | 1,048 | ||||||||
| Total current liabilities: | 3,329 | 638 | 2,388 | 4,981 | |||||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 3,782 | 2,601 | 3,454 | ||||||
| Operating lease, liability | 3,782 | 2,601 | 3,454 | ✕ | ✕ | ✕ | ✕ | ||
| Liabilities, other than long-term debt | 13,121 | 8,592 | |||||||
| Deferred income tax liabilities | 13,121 | 8,592 | ✕ | ✕ | ✕ | ✕ | |||
| Total noncurrent liabilities: | 16,903 | 11,193 | 3,454 | ||||||
| Other undisclosed liabilities | 82,169 | 70,672 | 66,689 | 63,648 | 70,992 | 73,802 | 68,745 | ||
| Total liabilities: | 102,401 | 82,503 | 72,531 | 68,629 | 70,992 | 73,802 | 68,745 | ||
| Stockholders' equity | |||||||||
| Stockholders' equity attributable to parent | 229,087 | 200,422 | 191,362 | 175,639 | 177,835 | 155,045 | 142,670 | ||
| Common stock | 0 | 0 | 0 | ||||||
| Accumulated other comprehensive income | 3,226 | 4,326 | 3,100 | 949 | 15,945 | 11,761 | 11,483 | ||
| Retained earnings | 225,861 | 196,096 | 188,262 | 174,690 | 161,891 | 143,284 | 131,187 | ||
| Stockholders' equity attributable to noncontrolling interest | 85 | 91 | 107 | ||||||
| Total stockholders' equity: | 229,087 | 200,422 | 191,362 | 175,639 | 177,920 | 155,136 | 142,777 | ||
| TOTAL LIABILITIES AND EQUITY: | 331,488 | 282,925 | 263,893 | 244,268 | 248,913 | 228,938 | 211,522 | ||
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 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 329,498 | 236,408 | 183,502 | 156,259 | 161,649 | 138,492 | 127,200 | |
| 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: | 323,812 | 231,204 | 179,970 | 156,259 | 158,338 | 138,249 | 122,722 | |
| Operating expenses | (244,566) | (119,663) | (84,835) | (77,157) | (115,231) | (100,742) | (96,165) | |
| Operating income: | 79,246 | 111,541 | 95,135 | 79,102 | 43,107 | 37,507 | 26,557 | |
| Other undisclosed income (loss) from continuing operations before equity method investments, income taxes | 5,686 | (61,880) | (55,312) | (52,033) | (12,837) | (9,376) | (8,780) | |
| Income from continuing operations before income taxes: | 84,932 | 49,661 | 39,823 | 27,069 | 30,271 | 28,131 | 17,777 | |
| Income tax expense | (17,912) | (10,241) | (8,365) | (5,210) | (4,570) | (8,616) | (5,228) | |
| Net income: | 67,020 | 39,420 | 31,458 | 21,859 | 25,701 | 19,515 | 12,549 | |
| Net income (loss) attributable to noncontrolling interest | 33 | 6 | 8 | (15) | ||||
| Net income available to common stockholders, diluted: | 67,020 | 39,420 | 31,458 | 21,892 | 25,707 | 19,523 | 12,534 | |
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: | 67,020 | 39,420 | 31,458 | 21,859 | 25,701 | 19,515 | 12,549 | |
| Other comprehensive income (loss) | (1,100) | 1,226 | 2,151 | (1,369) | 4,183 | 278 | (1,373) | |
| Comprehensive income: | 65,920 | 40,646 | 33,609 | 20,490 | 29,884 | 19,794 | 11,176 | |
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | 33 | 6 | 8 | (15) | ||||
| Comprehensive income, net of tax, attributable to parent: | 65,920 | 40,646 | 33,609 | 20,523 | 29,890 | 19,802 | 11,160 | |
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.