XML 15 R4.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues:        
Direct title insurance premiums $ 575 $ 625 $ 1,121 $ 1,065
Agency title insurance premiums 784 754 1,516 1,306
Escrow, title-related and other fees 747 665 1,348 1,199
Interest and investment income 152 59 205 113
Realized gains and losses, net 162 41 (158) 183
Total revenues 2,420 2,144 4,032 3,866
Expenses:        
Personnel costs 692 685 1,306 1,277
Agent commissions 598 579 1,158 1,000
Other operating expenses 446 409 857 753
Benefits and other changes in policy reserves 155 0 155 0
Depreciation and amortization 46 44 89 88
Provision for title claim losses 61 62 119 107
Interest expense 21 12 33 24
Total expenses 2,019 1,791 3,717 3,249
Earnings from continuing operations before income taxes and equity in earnings of unconsolidated affiliates 401 353 315 617
Income tax expense 89 86 61 151
Earnings (loss) before equity in earnings of unconsolidated affiliates 312 267 254 466
Equity in earnings of unconsolidated affiliates 1 3 2 10
Net earnings from continuing operations 313 270 256 476
Net earnings from discontinued operations, net of tax 5 0 5 0
Net earnings 318 270 261 476
Less: Net earnings attributable to non-controlling interests 9 4 13 4
Net earnings attributable to Fidelity National Financial, Inc. common shareholders $ 309 $ 266 $ 248 $ 472
Earnings per share        
Net earnings from continuing operations attributable to FNF commons shareholders (in usd per share) $ 1.10 $ 0.97 $ 0.88 $ 1.73
Net earnings from discontinued operations attributable to FNF common shareholders (in usd per share) 0.02 0 0.02 0
Net earnings per share attributable to FNF common shareholders (in usd per share) 1.12 0.97 0.90 1.73
Diluted        
Net earnings from continuing operations attributable to FNF commons shareholders (in usd per share) 1.09 0.96 0.87 1.70
Net earnings from discontinued operations attributable to FNF common shareholders (in usd per share) 0.02 0 0.02 0
Net earnings per share attributable to FNF shareholders (in usd per share) $ 1.11 $ 0.96 $ 0.89 $ 1.70
Weighted average shares outstanding, basic basis (in shares) 277 273 275 273
Weighted average shares outstanding, diluted basis (in shares) 279 277 278 277