69 unchanged sentences
In North Carolina and Texas, the Company’s title insurance commitments and policies are issued directly and through agents.
−Removed: In South Carolina, Georgia, Florida and other states, title policies are primarily issued through agents.
+Added: In Georgia, South Carolina, Florida and other states, title policies are primarily issued through agents.
For a description of the level of net premiums written geographically for significant states, refer to “Item 7.
19 unchanged sentences
From time to time, these laws are subject to review and changes, which may negatively affect the demand for tax-deferred exchanges in general, and consequently, the revenues and profitability of the Company’s exchange services division.
+Added: Given that income is derived from a portion of the interest earned on client deposits held by the Company, interest rate fluctuations may also impact the profitability of the Company’s exchange services division.
Management Services, Investment Management and Trust Services
34 unchanged sentences
The CFPB has the authority to identify and address, through regulation, unfair, deceptive and abusive practices in the mortgage industry and certain other settlement service industries.
−Removed: Leadership transitions at the CFPB under the new presidential administration may result in changes that could affect the title insurance industry.
+Added: Leadership transitions at the CFPB under the current presidential administration may result in changes that could affect the title insurance industry.
+Added: During 2025, through a number of public statements and ongoing staff reductions, the CFPB has significantly cut back its supervisory and enforcement activities.
+Added: In addition, the CFPB is subject to a lawsuit regarding funding of the agency.
Increased regulatory involvement may affect the Company and its service providers.
35 unchanged sentences
Short-term investments, which consist primarily of money market funds and U.S.
−Removed: Treasury bills, have an original maturity of one year or less, are carried at cost, which approximates fair value due to the short duration to maturity.
+Added: Treasury bills, original maturities of one year or less and are carried at cost, which approximates fair value due to the short duration to maturity.
In addition, at December 31, 2025 and 2024, the Company held investments that are accounted for using the equity method and measurement alternative method (refer to Note 1 of the Notes to the Consolidated Financial Statements).
47 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.