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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Sep. 30, 2020
Dec. 31, 2019
Investments:    
Fixed maturity securities, available-for-sale, at fair value (amortized cost: September 30, 2020 - $25,178; December 31, 2019 - $2,029 and allowance for expected credit losses: September 30, 2020 - $701; December 31, 2019 - $0) $ 26,410 $ 2,090
Derivative investments 381 0
Mortgage loans, net of allowance for credit losses of $35 at September 30, 2020 1,614 0
Investments in unconsolidated affiliates 1,267 131
Other long-term investments 471 153
Short-term investments, at September 30, 2020 and December 31, 2019 includes pledged short-term investments of $4 and $12, respectively, related to secured trust deposits 119 876
Total investments 32,227 4,384
Cash and cash equivalents, at September 30, 2020 and December 31, 2019 includes $389 and $384, respectively, of pledged cash related to secured trust deposits 2,871 1,376
Trade and notes receivables, net of allowance of $28 and $20 at September 30, 2020 and December 31, 2019, respectively 371 346
Reinsurance recoverable, net of allowance for credit losses of $22 at September 30, 2020 3,152 0
Goodwill 4,458 2,727
Prepaid expenses and other assets 910 432
Lease assets 391 410
Other intangible assets, net 2,305 422
Title plants 404 404
Property and equipment, net 178 176
Assets of discontinued operations 2,618 0
Total assets 49,885 10,677
Liabilities:    
Contractholder funds 27,488 0
Future policy benefits 4,048 0
Accounts payable and accrued liabilities 2,170 1,094
Notes payable 2,664 838
Reserve for title claim losses 1,555 1,509
Funds withheld for reinsurance liabilities 814 0
Secured trust deposits 829 791
Lease liabilities 430 442
Income taxes payable 54 10
Deferred tax liability 189 284
Liabilities of discontinued operations 2,462 0
Total liabilities 42,703 4,968
Commitments and Contingencies
Redeemable non-controlling interest by 21% minority holder of ServiceLink Holdings, LLC (see Note R) 0 344
Equity:    
FNF common stock, $0.0001 par value; authorized 600,000,000 shares as of September 30, 2020 and December 31, 2019; outstanding of 293,649,504 and 275,563,436 as of September 30, 2020 and December 31, 2019, respectively, and issued of 320,759,086 and 292,236,476 as of September 30, 2020 and December 31, 2019, respectively 0 0
Preferred stock, $0.0001 par value; authorized 50,000,000 shares; issued and outstanding, none 0 0
Additional paid-in capital 5,642 4,581
Retained earnings 1,698 1,356
Accumulated other comprehensive earnings 720 43
Less: Treasury stock, 27,109,582 shares and 16,673,040 shares as of September 30, 2020 and December 31, 2019, respectively, at cost (919) (598)
Total Fidelity National Financial, Inc. shareholders’ equity 7,141 5,382
Non-controlling interests 41 (17)
Total equity 7,182 5,365
Total liabilities, redeemable non-controlling interest and equity 49,885 10,677
Preferred securities    
Investments:    
Securities, at fair value 1,274 323
Equity securities    
Investments:    
Securities, at fair value $ 691 $ 811