Fidelity National Financial, Inc. Files 10-Q for Q1 2024

TL;DR

<b>Fidelity National Financial, Inc. (FNF) has filed its 10-Q report for the first quarter of 2024, detailing financial performance and operational status.</b>

AI Summary

Fidelity National Financial, Inc. (FNF) filed a Quarterly Report (10-Q) with the SEC on May 10, 2024. Filing is a 10-Q for the period ending March 31, 2024. Company name is Fidelity National Financial, Inc. Central Index Key (CIK) is 0001331875. Standard Industrial Classification (SIC) is TITLE INSURANCE [6361]. Filing date is May 10, 2024.

Why It Matters

For investors and stakeholders tracking Fidelity National Financial, Inc., this filing contains several important signals. This filing provides investors with the latest financial data and disclosures for FNF, crucial for understanding the company's current health and future prospects in the title insurance sector. The 10-Q report is a mandatory SEC filing for publicly traded companies, offering a comprehensive overview of financial condition, results of operations, and cash flows for the specified quarterly period.

Risk Assessment

Risk Level: medium — Fidelity National Financial, Inc. shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q) which typically contains routine financial information and does not indicate any immediate, significant positive or negative events, but requires careful review of detailed financial statements and risk factors.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-Q filing to assess Fidelity National Financial's performance and potential risks in the current market environment.

Key Numbers

• 2024-03-31 — Period End Date (Quarterly report period)
• 2024-05-10 — Filing Date (Date the report was filed)
• 0001331875 — Central Index Key (Unique identifier for the filer)
• 6361 — Standard Industrial Classification (Industry code for Title Insurance)

Key Players & Entities

• Fidelity National Financial, Inc. (company) — Filer name
• 0001331875 (company) — Central Index Key
• 6361 (company) — Standard Industrial Classification
• 2024-03-31 (date) — Period of report
• 2024-05-10 (date) — Filed as of date

FAQ

Industry Context

Fidelity National Financial operates in the title insurance industry, a sector closely tied to real estate transactions and mortgage origination volumes.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial reports to the SEC.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and balance sheet changes.
2. Review any disclosed risk factors for potential impacts on the business.
3. Compare key financial metrics to previous periods if available in the full filing.

Key Dates

• 2024-03-31: Quarter End Date — End of the reporting period for the 10-Q filing.
• 2024-05-10: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the 10-Q filing for Q1 2024. Comparative data for prior periods would be found within the full report.

Key Financial Figures

• $0.0001 — on Which Registered FNF Common Stock, $0.0001 par value FNF New York Stock Exchange

Filing Documents

• fnf-20240331.htm (10-Q) — 4643KB
• exhibit311q12024.htm (EX-31.1) — 10KB
• exhibit312q12024.htm (EX-31.2) — 10KB
• exhibit321q12024.htm (EX-32.1) — 6KB
• exhibit322q12024.htm (EX-32.2) — 6KB
• fnf-20240331_g1.jpg (GRAPHIC) — 34KB
• 0001331875-24-000029.txt (&nbsp;) — 25459KB
• fnf-20240331.xsd (EX-101.SCH) — 121KB
• fnf-20240331_cal.xml (EX-101.CAL) — 163KB
• fnf-20240331_def.xml (EX-101.DEF) — 746KB
• fnf-20240331_lab.xml (EX-101.LAB) — 1298KB
• fnf-20240331_pre.xml (EX-101.PRE) — 1039KB
• fnf-20240331_htm.xml (XML) — 6466KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements: 2 Condensed Consolidated Balance Sheets (unaudited) 3 Condensed Consolidated Statements of Operations (unaudited) 4 Condensed Consolidated Statements of Comprehensive Earnings (unaudited) 5 Condensed Consolidated Statements of Equity (unaudited) 6 Condensed Consolidated Statements of Cash Flows (unaudited) 7 Notes to Unaudited Condensed Consolidated Financial Statements 9

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 63

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 86

Controls and Procedures

Item 4. Controls and Procedures 86

Other Information

Item 5. Other Information 86

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 87

Risk Factors

Item 1A. Risk Factors 87

Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities

Item 2. Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities 89

Exhibits

Item 6. Exhibits 91

Signatures

Signatures 92 1 Table of Contents

: FINANCIAL INFORMATION

PART I: FINANCIAL INFORMATION

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements 2 Table of Contents FIDELITY NATIONAL FINANCIAL, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in millions, except share data) March 31, 2024 December 31, 2023 (Unaudited) ASSETS Investments: Fixed maturity securities available for sale, at fair value, at March 31, 2024 and December 31, 2023, at an amortized cost of $ 47,789 and $ 45,606 , respectively, net of allowance for credit losses of $ 40 and $ 42 , respectively, and includes pledged fixed maturity securities of $ 492 and $ 489 , respectively, related to secured trust deposits $ 44,566 $ 42,373 Preferred securities, at fair value 542 621 Equity securities, at fair value 793 766 Derivative investments 1,024 797 Mortgage loans, net of allowance for credit losses of $ 67 and $ 66 at March 31, 2024 and December 31, 2023, respectively 5,440 5,336 Investments in unconsolidated affiliates 3,632 3,334 Other long-term investments 735 703 Short-term investments, at March 31, 2024 and December 31, 2023 646 2,119 Total investments 57,378 56,049 Cash and cash equivalents, at March 31, 2024 and December 31, 2023 includes $ 227 and $ 262 , respectively, of pledged cash related to secured trust deposits 3,517 2,767 Trade and notes receivables, net of allowance for credit losses of $ 31 and $ 32 at March 31, 2024 and December 31, 2023, respectively 409 442 Reinsurance recoverable, net of allowance for credit losses of $ 21 and $ 21 at March 31, 2024 and December 31, 2023, respectively 10,129 8,977 Goodwill 5,107 4,830 Prepaid expenses and other assets 1,899 1,900 Market risk benefits asset 95 88 Lease assets 348 348 Other intangible assets, net 5,027 4,627 Title plants 420 418 Property and equipment, net 167 168 Total assets $ 84,496 $ 80,614 LIABILITIES AND EQUITY Liabilities: Contractholder funds $ 50,875 $ 48,798 Future policy benefits 7,441 7,050 Accounts payable and accrued liabilities 3,138 3,009 Mark

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View this 10-Q filing on SEC EDGAR