0001564590-21-019937.txt : 20210422 0001564590-21-019937.hdr.sgml : 20210422 20210422064529 ACCESSION NUMBER: 0001564590-21-019937 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20210422 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20210422 DATE AS OF CHANGE: 20210422 FILER: COMPANY DATA: COMPANY CONFORMED NAME: First American Financial Corp CENTRAL INDEX KEY: 0001472787 STANDARD INDUSTRIAL CLASSIFICATION: TITLE INSURANCE [6361] IRS NUMBER: 261911571 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-34580 FILM NUMBER: 21843211 BUSINESS ADDRESS: STREET 1: 1 FIRST AMERICAN WAY CITY: SANTA ANA STATE: CA ZIP: 92707 BUSINESS PHONE: 714-250-3000 MAIL ADDRESS: STREET 1: 1 FIRST AMERICAN WAY CITY: SANTA ANA STATE: CA ZIP: 92707 8-K 1 faf-8k_20210422.htm 8-K Q1 EARNINGS faf-8k_20210422.htm
false 0001472787 0001472787 2021-04-22 2021-04-22

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): April 22, 2021

 

FIRST AMERICAN FINANCIAL CORPORATION

(Exact name of registrant as specified in its charter)

 

 

Delaware

001-34580

26-1911571

(State or Other Jurisdiction

of Incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

 

 

 

1 First American Way,

Santa Ana, California

 

92707-5913

(Address of Principal Executive Offices)

 

(Zip Code)

Registrant’s Telephone Number, Including Area Code: (714) 250-3000

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $0.00001 par value

FAF

The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

 

Item 2.02 Results of Operations and Financial Condition.

On April 22, 2021, First American Financial Corporation issued a press release announcing its financial results for the quarter ended March 31, 2021. The full text of the press release is attached hereto as Exhibit 99.1.

The information in this Item 2.02, including Exhibit 99.1 hereto, is being “furnished” in accordance with General Instruction B.2 of Form 8-K. As such, this information is not deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act, or otherwise subject to the liabilities of that section, and is not incorporated by reference into any filings with the SEC unless it shall be explicitly so incorporated in such filings.

 

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

 

Exhibit

Number

 

Description

99.1

 

Press Release, dated April 22, 2021*

104

 

Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

*

Furnished herewith.

 

2

 

 

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

 

 

FIRST AMERICAN FINANCIAL CORPORATION

 

 

 

 

Date:  April 22, 2021

 

By:

/s/ Kenneth D. DeGiorgio

 

 

 

Name:

Kenneth D. DeGiorgio

 

 

 

Title:

Executive Vice President

 

 

3

 

 

 EX-99.1 2 faf-ex991_6.htm EX-99.1 faf-ex991_6.htm

Exhibit 99.1

 

NEWS

 FOR

 IMMEDIATE

 RELEASE

 

 

FIRST AMERICAN FINANCIAL REPORTS first QUARTER 2021 Results

—Reports First Quarter Earnings of $2.10 per Diluted Share—

 

SANTA ANA, Calif., April 22, 2021 – First American Financial Corporation (NYSE: FAF), a leading global provider of title insurance, settlement services and risk solutions for real estate transactions, today announced financial results for the first quarter ended March 31, 2021.

Current Quarter Highlights

•

Total revenue of $2.0 billion, up 43 percent compared with last year

 

-

Closed title orders up 42 percent, driven by a 70 percent increase in refinance orders

 

-

Average revenue per order down 9 percent, driven by the shift to refinance transactions

•

Net realized investment gains of $66.8 million, or 46 cents per diluted share

 

-

Primarily due to gains recognized on venture investments of $42.1 million

•

Title Insurance and Services segment pretax margin of 17.1 percent, a first-quarter record

 

-

14.1 percent excluding net realized investment gains

•

Commercial revenues of $163.2 million, up 2 percent compared with last year

•

Title Insurance and Services segment loss rate reduced to 4 percent from 5 percent

•

Specialty Insurance segment pretax margin of 4.6 percent

 

-

2.7 percent excluding net realized investment gains

•

Repurchased 1.2 million shares for a total of $64.8 million at an average price of $52.86

•

Cashflow from operations of $223.9 million compared with $24.2 million last year, a first-quarter record

•

Debt-to-capital ratio of 25.0 percent, or 16.9 percent excluding secured financings payable of $645.5 million  

•

In April, named to the Fortune 100 Best Companies to Work For® list for the sixth consecutive year

 

 

Selected Financial Information

($ in millions, except per share data)

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2021

 

 

2020

 

Total revenue

 

$

2,025.7

 

 

$

1,412.9

 

Income before taxes

 

 

306.0

 

 

 

72.3

 

 

 

 

 

 

 

 

 

 

Net income

 

$

233.6

 

 

$

63.2

 

Net income per diluted share

 

 

2.10

 

 

0.55

 

 

Total revenue for the first quarter of 2021 was $2.0 billion, an increase of 43 percent relative to the first quarter of 2020. Net income in the current quarter was $233.6 million, or $2.10 per diluted share, compared with net income of $63.2 million, or 55 cents per diluted share, in the first quarter of 2020. Net realized investment gains in the current quarter were $66.8 million, or 46 cents per diluted share, compared with net realized investment losses of $64.8 million, or 50 cents per diluted share, in the first quarter of last year. The net realized gains in the current quarter were primarily due to gains recognized

-more-

First American Financial Reports First Quarter 2021 Results

Page 2

on venture investments, compared with net realized losses in the first quarter of last year that were primarily driven by the change in the fair value of equity securities.

“First American delivered outstanding results this quarter as the purchase, refinance and commercial markets were all strong,” said Dennis J. Gilmore, chief executive officer at First American Financial Corporation. “Our title segment posted a pretax margin of 17.1 percent, a record for the first quarter.

“Our venture strategy is continuing to show financial benefit with $42 million in gains recognized this quarter. More importantly, these investments are providing us with deep insight into proptech companies and most of the firms we have invested in have become strategic partners. In the first quarter, we also deployed capital by repurchasing 1.2 million shares for a total of $65 million, at an average price of $52.86 per share.

“I'm proud to share that First American has been named to the Fortune 100 Best Companies to Work For® list for the sixth consecutive year. I credit this outstanding accomplishment to our employees, as it was achieved through their commitment to each other, our customers and the communities where they live.”

  

Title Insurance and Services

($ in millions, except average revenue per order)

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2021

 

 

2020

 

Total revenues

 

$

1,885.1

 

 

$

1,300.6

 

 

 

 

 

 

 

 

 

 

Income before taxes

 

$

321.6

 

 

$

73.0

 

Pretax margin

 

 

17.1

%

 

 

5.6

%

 

 

 

 

 

 

 

 

 

Title open orders(1)

 

 

363,200

 

 

 

354,400

 

Title closed orders(1)

 

 

287,600

 

 

 

202,700

 

 

 

 

 

 

 

 

 

 

U.S. Commercial

 

 

 

 

 

 

 

 

   Total revenues

 

$

163.2

 

 

$

159.3

 

   Open orders

 

 

32,700

 

 

 

31,600

 

   Closed orders

 

 

16,600

 

 

 

16,400

 

   Average revenue per order

 

$

9,800

 

 

$

9,700

 

(1) U.S. direct title insurance orders only.

 

 

 

 

 

 

 

 

 

Total revenues for the Title Insurance and Services segment during the first quarter were $1.9 billion, up 45 percent compared with the same quarter of 2020. Direct premiums and escrow fees were up 31 percent compared with the first quarter of 2020, driven by a 42 percent increase in the number of direct title orders closed that was partially offset by a 9 percent decline in the average revenue per direct title order closed. The average revenue per direct title order declined to $2,118, primarily due to the shift in the order mix from higher-premium commercial and purchase transactions to lower-premium residential refinance transactions. Agent premiums, which are recorded on approximately a one-quarter lag relative to direct premiums, were up 41 percent in the current quarter as compared with last year.

-more-

First American Financial Reports First Quarter 2021 Results

Page 3

Information and other revenues were $275.4 million during the quarter, up 32 percent compared with the same quarter of last year. The increase was primarily due to the growth in mortgage originations that led to higher demand for the company’s title information products and the impact of the Docutech acquisition that closed in March of last year.    

Investment income was $42.7 million in the first quarter, down $17.0 million, or 29 percent from the same quarter last year. The decline was primarily due to the impact of lower short-term interest rates on the investment portfolio and cash balances, partially offset by higher interest income from the company’s warehouse lending business. Net realized investment gains totaled $64.2 million in the current quarter, compared with net realized investment losses of $68.3 million in the first quarter of 2020. This quarter’s net realized investment gains were primarily driven by gains recognized on venture investments, compared with net realized losses in the first quarter of last year that were due primarily to the change in the fair value of equity securities.  

Personnel costs were $504.1 million in the first quarter, an increase of $82.5 million, or 20 percent, compared with the same quarter of 2020. This increase was attributable to higher incentive compensation and an increase in the employee 401k match, due to rising profitability. Salary expense, overtime and temporary labor costs were also up due to the additional resources needed to process the elevated order volume.  

Other operating expenses were $264.5 million in the first quarter, up $37.9 million, or 17 percent, compared with the first quarter of 2020. The increase was primarily due to higher production-related costs resulting from the growth in order volume, and higher software expense that was partly offset by lower travel expense.  

The provision for policy losses and other claims was $60.1 million in the first quarter, or 4.0 percent of title premiums and escrow fees, a decrease from a 5.0 percent loss provision rate in the prior year. The current quarter rate reflects an ultimate loss rate of 4.0 percent for the current policy year with no change in the loss reserve estimates for prior policy years.

Depreciation and amortization expense was $36.7 million in the first quarter, up $7.2 million, or 24 percent, compared with the same period last year, due to higher amortization of software and other intangibles related to recent acquisitions.  

Pretax income for the Title Insurance and Services segment was $321.6 million in the first quarter, compared with $73.0 million in the first quarter of 2020. Pretax margin was 17.1 percent in the current quarter, compared with 5.6 percent last year. Excluding the impact of net realized investment gains and losses, the pretax margin was 14.1 percent this year, compared with 10.3 percent last year.

 

-more-

First American Financial Reports First Quarter 2021 Results

Page 4

 

Specialty Insurance

($ in millions)

 

Three Months Ended

 

 

 

March 31,

 

 

 

2021

 

 

2020

 

Total revenues

 

$

136.5

 

 

$

122.0

 

 

 

 

 

 

 

 

 

 

Income before taxes

 

$

6.3

 

 

$

12.9

 

Pretax margin

 

 

4.6

%

 

 

10.5

%

 

Total revenues for the Specialty Insurance segment were $136.5 million in the first quarter of 2021, an increase of 12 percent compared with the first quarter of 2020. First-quarter revenue growth was driven by higher operating revenue in the home warranty business and higher net realized investment gains in both the home warranty and property and casualty businesses. The overall loss ratio for the segment was 62.7 percent, up from 52.3 percent last year, due to higher claim losses in both businesses. The home warranty business continued to experience elevated claims during the first quarter, primarily driven by the appliance and plumbing trades. The wind down of our property and casualty business is progressing on schedule, with policies beginning to non-renew in May. The property and casualty business posted a pretax loss of $6.6 million, primarily driven by higher losses related to weather events in the western U.S., compared with a pretax loss of $7.3 million in the first quarter of 2020.    

Teleconference/Webcast

First American’s first-quarter 2021 results will be discussed in more detail on Thursday, April 22, 2021, at 11 a.m. EDT, via teleconference. The toll-free dial-in number is 877-407-8293. Callers from outside the United States may dial +1-201-689-8349.

The live audio webcast of the call will be available on First American’s website at www.firstam.com/investor. An audio replay of the conference call will be available through May 6, 2021, by dialing 201-612-7415 and using the conference ID 13718763. An audio archive of the call will also be available on First American’s investor website.

About First American

First American Financial Corporation (NYSE: FAF) is a leading provider of title insurance, settlement services and risk solutions for real estate transactions that traces its heritage back to 1889. First American also provides title plant management services; title and other real property records and images; valuation products and services; home warranty products; banking, trust and wealth management services; and other related products and services. With total revenue of $7.1 billion in 2020, the company offers its products and services directly and through its agents throughout the United States and abroad. In 2021, First American was named to the Fortune 100 Best Companies to Work For® list for the sixth consecutive year. More information about the company can be found at www.firstam.com.

-more-

First American Financial Reports First Quarter 2021 Results

Page 5

Website Disclosure

First American posts information of interest to investors at www.firstam.com/investor. This includes opened and closed title insurance order counts for its U.S. direct title insurance operations, which are posted approximately 10 to 12 days after the end of each month.

 

 

Forward-Looking Statements

Certain statements made in this press release and the related management commentary contain, and responses to investor questions may contain, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts and may contain the words “believe,” “anticipate,” “expect,” “intend,” “plan,” “predict,” “estimate,” “project,” “will be,” “will continue,” “will likely result,” or other similar words and phrases or future or conditional verbs such as “will,” “may,” “might,” “should,” “would,” or “could.” These forward-looking statements include, without limitation, statements regarding future operations, performance, financial condition, prospects, plans and strategies. These forward-looking statements are based on current expectations and assumptions that may prove to be incorrect. Risks and uncertainties exist that may cause results to differ materially from those set forth in these forward-looking statements. Factors that could cause the anticipated results to differ from those described in the forward-looking statements include, without limitation: interest rate fluctuations; changes in the performance of the real estate markets; volatility in the capital markets; unfavorable economic conditions; the coronavirus pandemic and responses thereto; impairments in the company’s goodwill or other intangible assets; uncertainty from the expected discontinuance of LIBOR and transition to any other interest rate benchmark; failures at financial institutions where the company deposits funds; regulatory oversight and changes in applicable laws and government regulations, including privacy and data protection laws; heightened scrutiny by legislators and regulators of the company’s title insurance and services segment and certain other of the company’s businesses; regulation of title insurance rates; limitations on access to public records and other data; climate change, health crises, severe weather conditions and other catastrophe events; changes in relationships with large mortgage lenders and government-sponsored enterprises; changes in measures of the strength of the company’s title insurance underwriters, including ratings and statutory capital and surplus; losses in the company’s investment portfolio or other investments; material variance between actual and expected claims experience; defalcations, increased claims or other costs and expenses attributable to the company’s use of title agents; any inadequacy in the company’s risk management framework; systems damage, failures, interruptions, cyberattacks and intrusions, or unauthorized data disclosures; innovation efforts of the company and other industry participants and any related market disruption; errors and fraud involving the transfer of funds; the company’s use of a global workforce; inability of the company’s subsidiaries to pay dividends or repay funds; and other factors described in the company’s annual report on Form 10-K for the year ended December 31, 2020, as filed with the Securities and Exchange Commission. The forward-looking statements speak only as of the date they are made.  The company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

 

-more-

First American Financial Reports First Quarter 2021 Results

Page 6

 

 

Use of Non-GAAP Financial Measures

This news release and related management commentary contain certain financial measures that are not presented in accordance with generally accepted accounting principles (GAAP), including an adjusted debt to capitalization ratio, personnel and other operating expense ratios, success ratios, net operating revenues; and adjusted revenues, adjusted pretax income, adjusted earnings per share, and adjusted pretax margins for the company, its title insurance and services segment and its specialty insurance segment. The company is presenting these non-GAAP financial measures because they provide the company’s management and investors with additional insight into the financial leverage, operational efficiency and performance of the company relative to earlier periods and relative to the company’s competitors. The company does not intend for these non-GAAP financial measures to be a substitute for any GAAP financial information. In this news release, these non-GAAP financial measures have been presented with, and reconciled to, the most directly comparable GAAP financial measures. Investors should use these non-GAAP financial measures only in conjunction with the comparable GAAP financial measures.

 

 

 

Media Contact:

Marcus Ginnaty
Corporate Communications
First American Financial Corporation
714-250-3298

 

 

Investor Contact:

Craig Barberio

Investor Relations

First American Financial Corporation

714-250-5214

 

-more-

First American Financial Reports First Quarter 2021 Results

Page 7

 

First American Financial Corporation

 

Summary of Consolidated Financial Results and Selected Information

 

(in thousands, except per share amounts and title orders, unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2021

 

 

2020

 

Total revenues

 

$

2,025,745

 

 

$

1,412,943

 

 

 

 

 

 

 

 

 

 

Income before income taxes

 

$

306,022

 

 

$

72,324

 

Income tax expense

 

 

71,564

 

 

 

8,478

 

Net income

 

 

234,458

 

 

 

63,846

 

Less: Net income attributable to noncontrolling interests

 

 

842

 

 

 

642

 

Net income attributable to the Company

 

$

233,616

 

 

$

63,204

 

 

 

 

 

 

 

 

 

 

Net income per share attributable to stockholders:

 

 

 

 

 

 

 

 

Basic

 

$

2.10

 

 

$

0.56

 

Diluted

 

$

2.10

 

 

$

0.55

 

 

 

 

 

 

 

 

 

 

Cash dividends declared per share

 

$

0.46

 

 

$

0.44

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding:

 

 

 

 

 

 

 

 

Basic

 

 

111,113

 

 

 

113,556

 

Diluted

 

 

111,414

 

 

 

113,959

 

 

 

 

 

 

 

 

 

 

Selected Title Insurance Segment Information

 

 

 

 

 

 

 

 

Title orders opened(1)

 

 

363,200

 

 

 

354,400

 

Title orders closed(1)

 

 

287,600

 

 

 

202,700

 

Paid title claims

 

$

39,969

 

 

$

42,732

 

 

 

 

 

 

 

 

 

 

(1) U.S. direct title insurance orders only.

 

 

 

 

 

 

 

 

 

 


-more-

First American Financial Reports First Quarter 2021 Results

Page 8

 

First American Financial Corporation

 

Selected Consolidated Balance Sheet Information

 

(in thousands, unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31,

 

 

December 31,

 

 

 

2021

 

 

2020

 

Cash and cash equivalents

 

$

2,026,024

 

 

$

1,275,466

 

Investments

 

 

8,101,230

 

 

 

7,214,820

 

Goodwill and other intangible assets, net

 

 

1,558,227

 

 

 

1,573,102

 

Total assets

 

 

14,431,903

 

 

 

12,795,988

 

Reserve for claim losses

 

 

1,203,169

 

 

 

1,178,004

 

Notes and contracts payable

 

 

1,009,447

 

 

 

1,010,756

 

Total stockholders’ equity

 

$

4,955,273

 

 

$

4,909,972

 

 

 


-more-

First American Financial Reports First Quarter 2021 Results

Page 9

 

First American Financial Corporation

 

Segment Information

 

(in thousands, unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

 

 

 

Title

 

 

Specialty

 

 

Corporate

 

March 31, 2021

 

Consolidated

 

 

Insurance

 

 

Insurance

 

 

(incl. Elims.)

 

Revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Direct premiums and escrow fees

 

$

785,675

 

 

$

657,497

 

 

$

128,178

 

 

$

—

 

Agent premiums

 

 

845,292

 

 

 

845,292

 

 

 

—

 

 

 

—

 

Information and other

 

 

278,892

 

 

 

275,404

 

 

 

3,748

 

 

 

(260

)

Net investment income

 

 

49,053

 

 

 

42,652

 

 

 

1,934

 

 

 

4,467

 

Net realized investment gains

 

 

66,833

 

 

 

64,213

 

 

 

2,620

 

 

 

—

 

 

 

 

2,025,745

 

 

 

1,885,058

 

 

 

136,480

 

 

 

4,207

 

Expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Personnel costs

 

 

535,182

 

 

 

504,143

 

 

 

23,927

 

 

 

7,112

 

Premiums retained by agents

 

 

671,301

 

 

 

671,301

 

 

 

—

 

 

 

—

 

Other operating expenses

 

 

295,403

 

 

 

264,487

 

 

 

22,639

 

 

 

8,277

 

Provision for policy losses and other claims

 

 

140,447

 

 

 

60,111

 

 

 

80,336

 

 

 

—

 

Depreciation and amortization

 

 

38,298

 

 

 

36,713

 

 

 

1,549

 

 

 

36

 

Premium taxes

 

 

22,586

 

 

 

20,818

 

 

 

1,768

 

 

 

—

 

Interest

 

 

16,506

 

 

 

5,855

 

 

 

—

 

 

 

10,651

 

 

 

 

1,719,723

 

 

 

1,563,428

 

 

 

130,219

 

 

 

26,076

 

Income (loss) before income taxes

 

$

306,022

 

 

$

321,630

 

 

$

6,261

 

 

$

(21,869

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

 

 

 

Title

 

 

Specialty

 

 

Corporate

 

March 31, 2020

 

Consolidated

 

 

Insurance

 

 

Insurance

 

 

(incl. Elims.)

 

Revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Direct premiums and escrow fees

 

$

620,637

 

 

$

501,301

 

 

$

119,336

 

 

$

—

 

Agent premiums

 

 

599,682

 

 

 

599,682

 

 

 

—

 

 

 

—

 

Information and other

 

 

211,512

 

 

 

208,273

 

 

 

3,439

 

 

 

(200

)

Net investment income

 

 

45,874

 

 

 

59,668

 

 

 

2,584

 

 

 

(16,378

)

Net realized investment (losses) gains

 

 

(64,762

)

 

 

(68,299

)

 

 

(3,390

)

 

 

6,927

 

 

 

 

1,412,943

 

 

 

1,300,625

 

 

 

121,969

 

 

 

(9,651

)

Expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Personnel costs

 

 

429,660

 

 

 

421,615

 

 

 

21,446

 

 

 

(13,401

)

Premiums retained by agents

 

 

475,381

 

 

 

475,381

 

 

 

—

 

 

 

—

 

Other operating expenses

 

 

257,240

 

 

 

226,595

 

 

 

21,548

 

 

 

9,097

 

Provision for policy losses and other claims

 

 

117,477

 

 

 

55,049

 

 

 

62,428

 

 

 

—

 

Depreciation and amortization

 

 

31,449

 

 

 

29,517

 

 

 

1,894

 

 

 

38

 

Premium taxes

 

 

17,315

 

 

 

15,519

 

 

 

1,796

 

 

 

—

 

Interest

 

 

12,097

 

 

 

3,973

 

 

 

—

 

 

 

8,124

 

 

 

 

1,340,619

 

 

 

1,227,649

 

 

 

109,112

 

 

 

3,858

 

Income (loss) before income taxes

 

$

72,324

 

 

$

72,976

 

 

$

12,857

 

 

$

(13,509

)


-more-

First American Financial Reports First Quarter 2021 Results

Page 10

 

 

First American Financial Corporation

 

Reconciliation of Pretax Margins and Earnings per Diluted Share

 

Excluding Net Realized Investment Gains and Losses ("NRIG(L)")

 

(in thousands, except margin and per share amounts, unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2021

 

 

2020

 

Consolidated

 

 

 

 

 

 

 

 

Total revenues

 

$

2,025,745

 

 

$

1,412,943

 

Less: NRIG(L)

 

 

66,833

 

 

 

(64,762

)

Total revenues excluding NRIG(L)

 

$

1,958,912

 

 

$

1,477,705

 

 

 

 

 

 

 

 

 

 

Pretax income

 

$

306,022

 

 

$

72,324

 

Less: NRIG(L)

 

 

66,833

 

 

 

(64,762

)

Pretax income excluding NRIG(L)

 

$

239,189

 

 

$

137,086

 

 

 

 

 

 

 

 

 

 

Pretax margin

 

 

15.1

%

 

 

5.1

%

Less: Pretax margin impact of NRIG(L)

 

 

2.9

%

 

 

(4.2

)%

Pretax margin excluding NRIG(L)

 

 

12.2

%

 

 

9.3

%

 

 

 

 

 

 

 

 

 

Earnings per diluted share (EPS)

 

$

2.10

 

 

$

0.55

 

Less: EPS impact of NRIG(L)

 

 

0.46

 

 

$

(0.50

)

EPS excluding NRIG(L)

 

$

1.64

 

 

$

1.06

 

 

 

 

 

 

 

 

 

 

Title Insurance and Services Segment

 

 

 

 

 

 

 

 

Total revenues

 

$

1,885,058

 

 

$

1,300,625

 

Less: NRIG(L)

 

 

64,213

 

 

 

(68,299

)

Total revenues excluding NRIG(L)

 

$

1,820,845

 

 

$

1,368,924

 

 

 

 

 

 

 

 

 

 

Pretax income

 

$

321,630

 

 

$

72,976

 

Less: NRIG(L)

 

 

64,213

 

 

 

(68,299

)

Pretax income excluding NRIG(L)

 

$

257,417

 

 

$

141,275

 

 

 

 

 

 

 

 

 

 

Pretax margin

 

 

17.1

%

 

 

5.6

%

Less: Pretax margin impact of NRIG(L)

 

 

3.0

%

 

 

(4.7

)%

Pretax margin excluding NRIG(L)

 

 

14.1

%

 

 

10.3

%

 

 

 

 

 

 

 

 

 

Specialty Insurance Segment

 

 

 

 

 

 

 

 

Total revenues

 

$

136,480

 

 

$

121,969

 

Less: NRIG(L)

 

 

2,620

 

 

 

(3,390

)

Total revenues excluding NRIG(L)

 

$

133,860

 

 

$

125,359

 

 

 

 

 

 

 

 

 

 

Pretax income

 

$

6,261

 

 

$

12,857

 

Less: NRIG(L)

 

 

2,620

 

 

 

(3,390

)

Pretax income excluding NRIG(L)

 

$

3,641

 

 

$

16,247

 

 

 

 

 

 

 

 

 

 

Pretax margin

 

 

4.6

%

 

 

10.5

%

Less: Pretax margin impact of NRIG(L)

 

 

1.9

%

 

 

(2.5

)%

Pretax margin excluding NRIG(L)

 

 

2.7

%

 

 

13.0

%

 

 

 

 

 

 

 

 

 

Totals may not sum due to rounding.

 

 

 

 

 

 

 

 

 

 

 

-more-

First American Financial Reports First Quarter 2021 Results

Page 11

 

First American Financial Corporation

 

 

Expense and Success Ratio Reconciliation

 

 

Title Insurance and Services Segment

 

 

($ in thousands, unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

 

 

March 31,

 

 

 

 

2021

 

 

2020

 

 

Total revenues

 

$

1,885,058

 

 

$

1,300,625

 

 

Less: Net realized investment gains (losses)

 

 

64,213

 

 

 

(68,299

)

 

          Net investment income

 

 

42,652

 

 

 

59,668

 

 

          Premiums retained by agents

 

 

671,301

 

 

 

475,381

 

 

Net operating revenues

 

$

1,106,892

 

 

$

833,875

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Personnel and other operating expenses

 

$

768,630

 

 

$

648,210

 

 

Ratio (% net operating revenues)

 

 

69.4

%

 

 

77.7

%

 

Ratio (% total revenues)

 

 

40.8

%

 

 

49.8

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in net operating revenues

 

$

273,017

 

 

 

 

 

 

Change in personnel and other operating expenses

 

 

120,420

 

 

 

 

 

 

Success Ratio(1)

 

 

44

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1) Change in personnel and other operating expenses divided by change in net operating revenues.

 

 

 

-more-

First American Financial Reports First Quarter 2021 Results

Page 12

 

First American Financial Corporation

 

Supplemental Direct Title Insurance Order Information(1)

 

(unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q121

 

 

Q420

 

 

Q320

 

 

Q220

 

 

Q120

 

Open Orders per Day

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Purchase

 

 

2,275

 

 

 

1,925

 

 

 

2,405

 

 

 

1,919

 

 

 

1,978

 

Refinance

 

 

2,652

 

 

 

2,923

 

 

 

3,154

 

 

 

2,898

 

 

 

2,884

 

Refinance as % of residential orders

 

 

54

%

 

 

60

%

 

 

57

%

 

 

60

%

 

 

59

%

Commercial

 

 

537

 

 

 

509

 

 

 

486

 

 

 

362

 

 

 

510

 

Default and other

 

 

491

 

 

 

273

 

 

 

370

 

 

 

310

 

 

 

345

 

Total open orders per day

 

 

5,954

 

 

 

5,629

 

 

 

6,416

 

 

 

5,489

 

 

 

5,716

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Closed Orders per Day

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Purchase

 

 

1,495

 

 

 

1,740

 

 

 

1,820

 

 

 

1,310

 

 

 

1,277

 

Refinance

 

 

2,506

 

 

 

2,430

 

 

 

2,320

 

 

 

2,222

 

 

 

1,451

 

Refinance as % of residential orders

 

 

63

%

 

 

58

%

 

 

56

%

 

 

63

%

 

 

53

%

Commercial

 

 

272

 

 

 

307

 

 

 

248

 

 

 

232

 

 

 

265

 

Default and other

 

 

442

 

 

 

207

 

 

 

167

 

 

 

213

 

 

 

276

 

Total closed orders per day

 

 

4,715

 

 

 

4,684

 

 

 

4,555

 

 

 

3,977

 

 

 

3,269

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average Revenue per Order (ARPO)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Purchase

 

$

2,794

 

 

$

2,826

 

 

$

2,726

 

 

$

2,581

 

 

$

2,526

 

Refinance

 

 

1,228

 

 

 

1,228

 

 

 

1,204

 

 

 

1,194

 

 

 

1,165

 

Commercial

 

 

9,838

 

 

 

11,703

 

 

 

8,993

 

 

 

7,373

 

 

 

9,690

 

Default and other

 

 

128

 

 

 

55

 

 

 

46

 

 

 

41

 

 

 

299

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total ARPO

 

$

2,118

 

 

$

2,457

 

 

$

2,193

 

 

$

1,950

 

 

$

2,315

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Business Days

 

 

61

 

 

 

63

 

 

 

64

 

 

 

64

 

 

 

62

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1) U.S. operations only.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Totals may not sum due to rounding.

 

 

 

###

 GRAPHIC 3 gyffp5hzx5le000001.jpg GRAPHIC begin 644 gyffp5hzx5le000001.jpg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end EX-101.SCH 4 faf-20210422.xsd XBRL TAXONOMY EXTENSION SCHEMA 00000 - Document - Template Link link:presentationLink link:calculationLink link:definitionLink 100000 - Document - Document and Entity Information link:calculationLink link:presentationLink link:definitionLink EX-101.LAB 5 faf-20210422_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE Entity Central Index Key Cover [Abstract] Document Type Document Type Amendment Flag Amendment Flag Document Period End Date Document Period End Date Entity Registrant Name Entity Registrant Name Entity Central Index Key Entity Emerging Growth Company Entity Emerging Growth Company Entity File Number Entity File Number Entity Incorporation, State or Country Code Entity Incorporation State Country Code Entity Tax Identification Number Entity Tax Identification Number Entity Address, Address Line One Entity Address Address Line1 Entity Address, City or Town Entity Address City Or Town Entity Address, State or Province Entity Address State Or Province Entity Address, Postal Zip Code Entity Address Postal Zip Code City Area Code City Area Code Local Phone Number Local Phone Number Written Communications Written Communications Soliciting Material Soliciting Material Pre-commencement Tender Offer Pre Commencement Tender Offer Pre-commencement Issuer Tender Offer Pre Commencement Issuer Tender Offer Title of 12(b) Security Security12b Title Trading Symbol Trading Symbol Security Exchange Name Security Exchange Name EX-101.PRE 6 faf-20210422_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE XML 7 faf-8k_20210422_htm.xml IDEA: XBRL DOCUMENT 0001472787 2021-04-22 2021-04-22 false 0001472787 8-K 2021-04-22 FIRST AMERICAN FINANCIAL CORPORATION DE 001-34580 26-1911571 1 First American Way Santa Ana CA 92707-5913 714 250-3000 false false false false Common Stock, $0.00001 par value FAF NYSE false XML 8 R1.htm IDEA: XBRL DOCUMENT v3.21.1
Document and Entity Information
Apr. 22, 2021
Cover [Abstract]  
Document Type 8-K
Amendment Flag false
Document Period End Date Apr. 22, 2021
Entity Registrant Name FIRST AMERICAN FINANCIAL CORPORATION
Entity Central Index Key 0001472787
Entity Emerging Growth Company false
Entity File Number 001-34580
Entity Incorporation, State or Country Code DE
Entity Tax Identification Number 26-1911571
Entity Address, Address Line One 1 First American Way
Entity Address, City or Town Santa Ana
Entity Address, State or Province CA
Entity Address, Postal Zip Code 92707-5913
City Area Code 714
Local Phone Number 250-3000
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock, $0.00001 par value
Trading Symbol FAF
Security Exchange Name NYSE
EXCEL 9 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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end XML 10 Show.js IDEA: XBRL DOCUMENT // Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105. var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0); e.removeAttribute('id');a.parentNode.appendChild(e)}} if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'} e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}} XML 11 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 12 FilingSummary.xml IDEA: XBRL DOCUMENT 3.21.1 html 1 96 1 false 0 0 false 0 false false R1.htm 100000 - Document - Document and Entity Information Sheet http://www.firstam.com/20210422/taxonomy/role/DocumentDocumentAndEntityInformation Document and Entity Information Cover 1 false false All Reports Book All Reports faf-8k_20210422.htm faf-20210422.xsd faf-20210422_lab.xml faf-20210422_pre.xml faf-ex991_6.htm http://xbrl.sec.gov/dei/2020-01-31 true false JSON 14 MetaLinks.json IDEA: XBRL DOCUMENT { "instance": { "faf-8k_20210422.htm": { "axisCustom": 0, "axisStandard": 0, "contextCount": 1, "dts": { "definitionLink": { "remote": [ "http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-eedm-def-2020-01-31.xml", "http://xbrl.fasb.org/srt/2020/elts/srt-eedm1-def-2020-01-31.xml" ] }, "inline": { "local": [ "faf-8k_20210422.htm" ] }, "labelLink": { "local": [ "faf-20210422_lab.xml" ], "remote": [ "https://xbrl.sec.gov/dei/2020/dei-doc-2020-01-31.xml" ] }, "presentationLink": { "local": [ "faf-20210422_pre.xml" ] }, "referenceLink": { "remote": [ "https://xbrl.sec.gov/dei/2020/dei-ref-2020-01-31.xml" ] }, "schema": { "local": [ "faf-20210422.xsd" ], "remote": [ "http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd", "http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd", "http://www.xbrl.org/2003/xl-2003-12-31.xsd", "http://www.xbrl.org/2003/xlink-2003-12-31.xsd", "http://www.xbrl.org/2005/xbrldt-2005.xsd", "https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd", "http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd", "https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd", "https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd", "http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd", "https://xbrl.sec.gov/exch/2020/exch-2020-01-31.xsd", "http://www.xbrl.org/lrr/arcrole/factExplanatory-2009-12-16.xsd", "http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd", "http://www.xbrl.org/lrr/role/net-2009-12-16.xsd", "https://xbrl.sec.gov/naics/2017/naics-2017-01-31.xsd", "https://xbrl.sec.gov/sic/2020/sic-2020-01-31.xsd", "http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd", "http://www.xbrl.org/2006/ref-2006-02-27.xsd", "http://xbrl.fasb.org/srt/2020/elts/srt-types-2020-01-31.xsd", "http://xbrl.fasb.org/srt/2020/elts/srt-roles-2020-01-31.xsd", "https://xbrl.sec.gov/stpr/2018/stpr-2018-01-31.xsd", "http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd", "http://xbrl.fasb.org/us-gaap/2020/elts/us-roles-2020-01-31.xsd", "http://xbrl.fasb.org/us-gaap/2020/elts/us-types-2020-01-31.xsd", "http://www.xbrl.org/lrr/role/deprecated-2009-12-16.xsd" ] } }, "elementCount": 23, "entityCount": 1, "hidden": { "http://xbrl.sec.gov/dei/2020-01-31": 2, "total": 2 }, "keyCustom": 0, "keyStandard": 96, "memberCustom": 0, "memberStandard": 0, "nsprefix": "faf", "nsuri": "http://www.firstam.com/20210422", "report": { "R1": { "firstAnchor": { "ancestors": [ "p", "body", "html" ], "baseRef": "faf-8k_20210422.htm", "contextRef": "C_0001472787_20210422_20210422", "decimals": null, "first": true, "lang": "en-US", "name": "dei:DocumentType", "reportCount": 1, "unique": true, "unitRef": null, "xsiNil": "false" }, "groupType": "document", "isDefault": "true", "longName": "100000 - Document - Document and Entity Information", "role": "http://www.firstam.com/20210422/taxonomy/role/DocumentDocumentAndEntityInformation", "shortName": "Document and Entity Information", "subGroupType": "", "uniqueAnchor": { "ancestors": [ "p", "body", "html" ], "baseRef": "faf-8k_20210422.htm", "contextRef": "C_0001472787_20210422_20210422", "decimals": null, "first": true, "lang": "en-US", "name": "dei:DocumentType", "reportCount": 1, "unique": true, "unitRef": null, "xsiNil": "false" } } }, "segmentCount": 0, "tag": { "dei_AmendmentFlag": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.", "label": "Amendment Flag", "verboseLabel": "Amendment Flag" } } }, "localname": "AmendmentFlag", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://www.firstam.com/20210422/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "booleanItemType" }, "dei_CityAreaCode": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Area code of city", "label": "City Area Code", "terseLabel": "City Area Code" } } }, "localname": "CityAreaCode", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://www.firstam.com/20210422/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_CoverAbstract": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Cover page.", "label": "Cover [Abstract]" } } }, "localname": "CoverAbstract", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "xbrltype": "stringItemType" }, "dei_DocumentPeriodEndDate": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is YYYY-MM-DD.", "label": "Document Period End Date", "terseLabel": "Document Period End Date" } } }, "localname": "DocumentPeriodEndDate", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://www.firstam.com/20210422/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "dateItemType" }, "dei_DocumentType": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.", "label": "Document Type", "terseLabel": "Document Type" } } }, "localname": "DocumentType", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://www.firstam.com/20210422/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "submissionTypeItemType" }, "dei_EntityAddressAddressLine1": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Address Line 1 such as Attn, Building Name, Street Name", "label": "Entity Address Address Line1", "terseLabel": "Entity Address, Address Line One" } } }, "localname": "EntityAddressAddressLine1", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://www.firstam.com/20210422/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressCityOrTown": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Name of the City or Town", "label": "Entity Address City Or Town", "terseLabel": "Entity Address, City or Town" } } }, "localname": "EntityAddressCityOrTown", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://www.firstam.com/20210422/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressPostalZipCode": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Code for the postal or zip code", "label": "Entity Address Postal Zip Code", "terseLabel": "Entity Address, Postal Zip Code" } } }, "localname": "EntityAddressPostalZipCode", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://www.firstam.com/20210422/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressStateOrProvince": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Name of the state or province.", "label": "Entity Address State Or Province", "terseLabel": "Entity Address, State or Province" } } }, "localname": "EntityAddressStateOrProvince", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://www.firstam.com/20210422/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "stateOrProvinceItemType" }, "dei_EntityCentralIndexKey": { "auth_ref": [ "r5" ], "lang": { "en-us": { "role": { "documentation": "A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.", "label": "Entity Central Index Key", "terseLabel": "Entity Central Index Key" } } }, "localname": "EntityCentralIndexKey", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://www.firstam.com/20210422/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "centralIndexKeyItemType" }, "dei_EntityEmergingGrowthCompany": { "auth_ref": [ "r5" ], "lang": { "en-us": { "role": { "documentation": "Indicate if registrant meets the emerging growth company criteria.", "label": "Entity Emerging Growth Company", "terseLabel": "Entity Emerging Growth Company" } } }, "localname": "EntityEmergingGrowthCompany", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://www.firstam.com/20210422/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "booleanItemType" }, "dei_EntityFileNumber": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.", "label": "Entity File Number", "terseLabel": "Entity File Number" } } }, "localname": "EntityFileNumber", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://www.firstam.com/20210422/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "fileNumberItemType" }, "dei_EntityIncorporationStateCountryCode": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Two-character EDGAR code representing the state or country of incorporation.", "label": "Entity Incorporation State Country Code", "terseLabel": "Entity Incorporation, State or Country Code" } } }, "localname": "EntityIncorporationStateCountryCode", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://www.firstam.com/20210422/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "edgarStateCountryItemType" }, "dei_EntityRegistrantName": { "auth_ref": [ "r5" ], "lang": { "en-us": { "role": { "documentation": "The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.", "label": "Entity Registrant Name", "terseLabel": "Entity Registrant Name" } } }, "localname": "EntityRegistrantName", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://www.firstam.com/20210422/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityTaxIdentificationNumber": { "auth_ref": [ "r5" ], "lang": { "en-us": { "role": { "documentation": "The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.", "label": "Entity Tax Identification Number", "terseLabel": "Entity Tax Identification Number" } } }, "localname": "EntityTaxIdentificationNumber", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://www.firstam.com/20210422/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "employerIdItemType" }, "dei_LocalPhoneNumber": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Local phone number for entity.", "label": "Local Phone Number", "terseLabel": "Local Phone Number" } } }, "localname": "LocalPhoneNumber", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://www.firstam.com/20210422/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_PreCommencementIssuerTenderOffer": { "auth_ref": [ "r2" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.", "label": "Pre Commencement Issuer Tender Offer", "terseLabel": "Pre-commencement Issuer Tender Offer" } } }, "localname": "PreCommencementIssuerTenderOffer", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://www.firstam.com/20210422/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "booleanItemType" }, "dei_PreCommencementTenderOffer": { "auth_ref": [ "r3" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.", "label": "Pre Commencement Tender Offer", "terseLabel": "Pre-commencement Tender Offer" } } }, "localname": "PreCommencementTenderOffer", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://www.firstam.com/20210422/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "booleanItemType" }, "dei_Security12bTitle": { "auth_ref": [ "r0" ], "lang": { "en-us": { "role": { "documentation": "Title of a 12(b) registered security.", "label": "Security12b Title", "terseLabel": "Title of 12(b) Security" } } }, "localname": "Security12bTitle", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://www.firstam.com/20210422/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "securityTitleItemType" }, "dei_SecurityExchangeName": { "auth_ref": [ "r1" ], "lang": { "en-us": { "role": { "documentation": "Name of the Exchange on which a security is registered.", "label": "Security Exchange Name", "terseLabel": "Security Exchange Name" } } }, "localname": "SecurityExchangeName", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://www.firstam.com/20210422/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "edgarExchangeCodeItemType" }, "dei_SolicitingMaterial": { "auth_ref": [ "r4" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.", "label": "Soliciting Material", "terseLabel": "Soliciting Material" } } }, "localname": "SolicitingMaterial", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://www.firstam.com/20210422/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "booleanItemType" }, "dei_TradingSymbol": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Trading symbol of an instrument as listed on an exchange.", "label": "Trading Symbol", "terseLabel": "Trading Symbol" } } }, "localname": "TradingSymbol", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://www.firstam.com/20210422/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "tradingSymbolItemType" }, "dei_WrittenCommunications": { "auth_ref": [ "r6" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.", "label": "Written Communications", "terseLabel": "Written Communications" } } }, "localname": "WrittenCommunications", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://www.firstam.com/20210422/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "booleanItemType" } }, "unitCount": 0 } }, "std_ref": { "r0": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "b" }, "r1": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "d1-1" }, "r2": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "13e", "Subsection": "4c" }, "r3": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "14d", "Subsection": "2b" }, "r4": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "14a", "Subsection": "12" }, "r5": { "Name": "Regulation 12B", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "b-2" }, "r6": { "Name": "Securities Act", "Number": "230", "Publisher": "SEC", "Section": "425" } }, "version": "2.1" } ZIP 15 0001564590-21-019937-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001564590-21-019937-xbrl.zip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end