XML 15 R4.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues:        
Direct title insurance premiums $ 733 $ 660 $ 1,854 $ 1,725
Agency title insurance premiums 981 827 2,497 2,133
Escrow, title-related and other fees 853 693 2,201 1,892
Interest and investment income 336 57 541 170
Recognized gains and losses, net 73 4 (85) 187
Total revenues 2,976 2,241 7,008 6,107
Expenses:        
Personnel costs 782 702 2,088 1,979
Agent commissions 749 630 1,907 1,630
Other operating expenses 449 473 1,306 1,226
Benefits and other changes in policy reserves 251 0 406 0
Depreciation and amortization 100 44 189 132
Provision for title claim losses 77 67 196 174
Interest expense 29 12 62 36
Total expenses 2,437 1,928 6,154 5,177
Earnings from continuing operations before income taxes and equity in earnings of unconsolidated affiliates 539 313 854 930
Income tax expense 133 59 194 210
Earnings (loss) before equity in earnings of unconsolidated affiliates 406 254 660 720
Equity in earnings of unconsolidated affiliates 7 2 9 12
Net earnings from continuing operations 413 256 669 732
Net loss from discontinued operations, net of tax (28) 0 (23) 0
Net earnings 385 256 646 732
Less: Net earnings attributable to non-controlling interests 7 6 20 10
Net earnings attributable to Fidelity National Financial, Inc. common shareholders $ 378 $ 250 $ 626 $ 722
Basic        
Net earnings from continuing operations attributable to FNF commons shareholders (in usd per share) $ 1.40 $ 0.92 $ 2.32 $ 2.64
Net loss from discontinued operations attributable to FNF common shareholders (in usd per share) (0.10) 0 (0.08) 0
Net earnings per share attributable to FNF common shareholders, basic (in usd per share) 1.30 0.92 2.24 2.64
Diluted        
Net earnings from continuing operations attributable to FNF commons shareholders (in usd per share) 1.39 0.90 2.29 2.61
Net loss from discontinued operations attributable to FNF common shareholders (in usd per share) (0.10) 0 (0.08) 0
Net earnings per share attributable to FNF common shareholders, diluted (in usd per share) $ 1.29 $ 0.90 $ 2.21 $ 2.61
Weighted average shares outstanding FNF common stock, basic basis (in shares) 291 273 280 273
Weighted average shares outstanding FNF common stock, diluted basis (in shares) 293 277 283 277