What was the pension liability loss for Corcoran as of January 1, 2022?
Corcoran Franchise · 2025 FDDAnswer from 2025 FDD Document
suming no negligence on the part of the title agent, such subsidiary is not liable for losses under those policies but rather the title insurer is typically liable for such losses.
Fraud, defalcation and misconduct by employees are also risks inherent in the business. The Company is the custodian of cash deposited by customers with specific instructions as to its disbursement from escrow, trust and account servicing files. The Company maintains fidelity insurance covering the loss or theft of funds of up to $30 million per occurrence, subject to a deductible of $1 million per occurrence.
The Company also maintains self-insurance arrangements relating to health and welf
Source: Item 23 — RECEIPTS (FDD pages 75–276)
What This Means (2025 FDD)
According to Corcoran's 2025 Franchise Disclosure Document, the minimum pension liability loss as of January 1, 2022, was $(41). This figure represents an adjustment to the balance, reflecting changes in the pension liability. It is important to note that this is a component of accumulated other comprehensive loss, which also includes currency translation adjustments. The total accumulated other comprehensive loss at that date was $(50).
Throughout 2022, there were several adjustments affecting the pension liability. These included other comprehensive income before reclassifications amounting to $1, amounts reclassified from accumulated other comprehensive loss of $2, and an income tax expense of $(1). The net effect of these adjustments resulted in a current period change of $2.
By December 31, 2022, the minimum pension liability loss had changed to $(39), and the accumulated other comprehensive loss was $(48). These figures indicate the fluctuations in Corcoran's financial position related to pension liabilities and other comprehensive income during that year. Understanding these changes is crucial for assessing the overall financial health and stability of Corcoran.