| |
December 31 |
|
 |
|
| Assets |
|
2001 |
|
|
|
2000 |
|
| Cash and cash equivalents |
$ |
645,240,000 |
|
$ |
300,905,000 |
|
| Accounts and accrued income receivable, |
| less allowances ($39,107,000 and $34,243,000) |
|
273,090,000 |
|
|
204,177,000 |
|
| Income taxes receivable |
|
– |
|
|
19,472,000 |
|
| Investments: |
| Deposits with savings and loan associations and banks |
|
27,597,000 |
|
|
31,900,000 |
| Debt securities |
|
257,045,000 |
|
|
209,407,000 |
| Equity securities |
|
52,014,000 |
|
|
58,720,000 |
| Other long-term investments |
|
113,995,000 |
|
|
92,703,000 |
|
| |
|
450,651,000 |
|
|
392,730,000 |
|
| Loans receivable |
|
104,264,000 |
|
|
94,452,000 |
|
| Property and equipment, at cost: |
| Land |
|
43,018,000 |
|
|
42,463,000 |
| Buildings |
|
173,878,000 |
|
|
168,897,000 |
| Furniture and equipment |
|
555,724,000 |
|
|
450,838,000 |
| Less — accumulated depreciation |
|
(299,615,000 |
) |
|
(227,110,000 |
) |
|
| |
|
473,005,000 |
|
|
435,088,000 |
|
| Title plants and other indexes |
|
308,027,000 |
|
|
290,072,000 |
|
| Deferred income taxes |
|
22,221,000 |
|
|
11,519,000 |
|
| Goodwill and other intangibles, less accumulated |
| amortization ($62,828,000 and $43,257,000) |
|
432,823,000 |
|
|
346,156,000 |
|
| Other assets |
|
127,942,000 |
|
|
105,166,000 |
|
| |
$ |
2,837,263,000 |
|
$ |
2,199,737,000 |
|
|
|
| |
December 31 |
|
|
|
| Liabilities and Stockholders’ Equity |
|
2001 |
|
|
|
2000 |
|
| Demand deposits |
$ |
91,285,000 |
|
$ |
81,289,000 |
|
| Accounts payable and accrued liabilities: |
| Accounts payable |
|
30,544,000 |
|
|
32,285,000 |
| Salaries and other personnel costs |
|
124,789,000 |
|
|
85,987,000 |
| Pension and other retirement plans |
|
96,409,000 |
|
|
57,718,000 |
| Other |
|
121,428,000 |
|
|
91,577,000 |
|
| |
|
373,170,000 |
|
|
267,567,000 |
|
| Deferred revenue |
|
294,227,000 |
|
|
261,673,000 |
|
| Reserve for known and incurred but not reported claims |
|
314,777,000 |
|
|
284,607,000 |
|
| Income taxes payable |
|
13,342,000 |
|
|
– |
|
| Notes and contracts payable |
|
415,341,000 |
|
|
219,838,000 |
|
| Minority interests in consolidated subsidiaries |
|
130,669,000 |
|
|
114,526,000 |
|
| Commitments and contingencies (Note 13) |
|
| Mandatorily redeemable preferred securities of the Company’s |
| subsidiary trust whose sole assets are the Company’s $100,000,000 |
| 8.5% deferrable interest subordinated notes due 2012 |
|
100,000,000 |
|
|
100,000,000 |
|
| Stockholders’ equity: |
| Preferred stock, $1 par value |
| Authorized — 500,000 shares; Outstanding — None |
| Common stock, $1 par value |
| Authorized — 180,000,000 shares |
| Outstanding — 68,694,000 and 63,887,000 shares |
|
68,694,000 |
|
|
63,887,000 |
| Additional paid-in capital |
|
271,403,000 |
|
|
172,468,000 |
| Retained earnings |
|
777,971,000 |
|
|
628,913,000 |
| Accumulated other comprehensive (loss) income |
|
(13,616,000 |
) |
|
4,969,000 |
|
| Total stockholders’ equity |
|
1,104,452,000 |
|
|
870,237,000 |
|
| |
$ |
2,837,263,000 |
|
$ |
2,199,737,000 |
|
|
CONSOLIDATED BALANCE SHEETS