First American Financial (FAF) 10-Q 29 Apr 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2020	Apr. 21, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Trading Symbol	FAF
Entity Registrant Name	First American Financial Corp
Entity Central Index Key	0001472787
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding		111,421,080
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	001-34580
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
Title of 12(b) Security	Common stock, $0.00001 par value
Security Exchange Name	NYSE
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents	$ 1,049,985	$ 1,485,959
Accounts and accrued income receivable, less allowances of $11,576 and $12,676	404,541	324,385
Income taxes receivable	11,870	10,967
Investments:
Deposits with banks	39,425	44,422
Debt securities, includes pledged securities of $92,261 and $91,636 (amortized cost$5,711,924 and $5,796,755; allowance for credit losses of $7,493 at March 31, 2020)	5,839,530	5,913,636
Equity securities	377,296	392,318
Other investments	292,726	239,067
Investments, Total	6,548,977	6,589,443
Secured financings receivable	480,160	287,459
Property and equipment, net	488,490	442,014
Operating lease assets	295,387	291,385
Title plants and other indexes	580,255	579,674
Deferred income taxes	18,283	18,283
Goodwill	1,381,495	1,150,908
Other intangible assets, net	183,961	91,833
Other assets	232,081	246,857
Total assets	11,675,485	11,519,167
Liabilities and Equity
Deposits	3,431,347	3,337,431
Accounts payable and accrued liabilities	664,023	820,356
Deferred revenue	237,500	252,331
Reserve for known and incurred but not reported claims	1,057,538	1,063,044
Income taxes payable	36,427	25,475
Deferred income taxes	266,108	266,108
Operating lease liabilities	324,804	322,776
Secured financings payable	441,657	278,412
Notes and contracts payable	847,159	728,232
Total liabilities	7,306,563	7,094,165
Commitments and contingencies (Note 15 and Note 18)
Stockholders’ equity:
Preferred stock, $0.00001 par value; Authorized—500 shares; Outstanding—none	0	0
Common stock, $0.00001 par value; Authorized—300,000 shares; Outstanding—111,417 shares and 112,476 shares	1	1
Additional paid-in capital	2,247,569	2,300,926
Retained earnings	2,173,720	2,161,049
Accumulated other comprehensive loss	(61,945)	(41,492)
Total stockholders’ equity	4,359,345	4,420,484
Noncontrolling interests	9,577	4,518
Total equity	4,368,922	4,425,002
Total liabilities and equity	$ 11,675,485	$ 11,519,167

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands		Mar. 31, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Accounts and accrued income receivable, allowances		$ 11,576	$ 12,676
Debt securities, amortized cost		5,711,924	5,796,755
Debt securities, allowance for credit losses	[1]	7,493	0
Pledged securities included in debt securities		$ 92,261	$ 91,636
Preferred stock, par value		$ 0.00001	$ 0.00001
Preferred stock, shares authorized		500,000	500,000
Preferred stock, outstanding		0	0
Common stock, par value		$ 0.00001	$ 0.00001
Common stock, shares authorized		300,000,000	300,000,000
Common stock, shares outstanding		111,417,000	112,476,000
[1]	Represents the amount of impairment resulting from credit-related factors and is included in net realized investment gains/losses in the condensed consolidated statements of income for the three months ended March 31, 2020.

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenues
Direct premiums and escrow fees	$ 620,637	$ 514,202
Agent premiums	599,682	501,537
Information and other	211,512	172,892
Net investment income	45,874	82,268
Net realized investment (losses) gains	(64,762)	32,682
Total revenues	1,412,943	1,303,581
Expenses
Personnel costs	429,660	411,612
Premiums retained by agents	475,381	396,607
Other operating expenses	257,240	196,447
Provision for policy losses and other claims	117,477	97,712
Depreciation and amortization	31,449	32,934
Premium taxes	17,315	14,663
Interest	12,097	11,936
Total expenses	1,340,619	1,161,911
Income before income taxes	72,324	141,670
Income taxes	8,478	31,866
Net income	63,846	109,804
Less: Net income attributable to noncontrolling interests	642	229
Net income attributable to the Company	$ 63,204	$ 109,575
Net income per share attributable to the Company’s stockholders (Note 9):
Basic	$ 0.56	$ 0.97
Diluted	0.55	0.97
Cash dividends declared per share	$ 0.44	$ 0.42
Weighted-average common shares outstanding (Note 9):
Basic	113,556	112,703
Diluted	113,959	113,224

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 63,846	$ 109,804
Other comprehensive income (loss), net of tax:
Unrealized gains on debt securities	12,619	59,505
Unrealized gains on debt securities for which credit-related portion was recognized in earnings	85
Foreign currency translation adjustment	(33,556)	6,888
Pension benefit adjustment	399	(76)
Total other comprehensive (loss) income, net of tax	(20,453)	66,317
Comprehensive income	43,393	176,121
Less: Comprehensive income attributable to noncontrolling interests	642	228
Comprehensive income attributable to the Company	$ 42,751	$ 175,893

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Total stockholders' equity	Noncontrolling Interests
Balance, Value at Dec. 31, 2018	$ 3,745,388	$ 1	$ 2,258,290	$ 1,644,165	$ (160,575)	$ 3,741,881	$ 3,507
Balance, Shares at Dec. 31, 2018		111,496
Cumulative-effect adjustment | Accounting Standards Update 2016-02	1,283	$ 0	0	1,283	0	1,283	0
Net income	109,804	0	0	109,575	0	109,575	229
Dividends on common shares	(47,021)	0	0	(47,021)	0	(47,021)	0
Purchase of Company shares	(2,066)	$ 0	(2,066)	0	0	(2,066)	0
Purchase of Company shares, shares		(47)
Shares issued in connection with share-based compensation	(11,480)	$ 0	(10,618)	(862)	0	(11,480)	0
Shares issued in connection with share-based compensation, shares		623
Share-based compensation	19,597	$ 0	19,597	0	0	19,597	0
Net activity related to noncontrolling interests	(1,286)	0	(60)	0	0	(60)	(1,226)
Other comprehensive income (loss)	66,317	0	0	0	66,318	66,318	(1)
Balance, Value at Mar. 31, 2019	3,880,536	$ 1	2,265,143	1,707,140	(94,257)	3,878,027	2,509
Balance, Shares at Mar. 31, 2019		112,072
Balance, Value at Dec. 31, 2019	$ 4,425,002	$ 1	2,300,926	2,161,049	(41,492)	4,420,484	4,518
Balance, Shares at Dec. 31, 2019	112,476	112,476
Net income	$ 63,846	$ 0	0	63,204	0	63,204	642
Dividends on common shares	(49,702)	0	0	(49,702)	0	(49,702)	0
Purchase of Company shares	(65,785)	$ 0	(65,785)	0	0	(65,785)	0
Purchase of Company shares, shares		(1,703)
Shares issued in connection with share-based compensation	(14,378)	$ 0	(13,547)	(831)	0	(14,378)	0
Shares issued in connection with share-based compensation, shares		644
Share-based compensation	25,903	$ 0	25,903	0	0	25,903	0
Net activity related to noncontrolling interests	4,489	0	72	0	0	72	4,417
Other comprehensive income (loss)	(20,453)	0	0	0	(20,453)	(20,453)	0
Balance, Value at Mar. 31, 2020	$ 4,368,922	$ 1	$ 2,247,569	$ 2,173,720	$ (61,945)	$ 4,359,345	$ 9,577
Balance, Shares at Mar. 31, 2020	111,417	111,417

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows from operating activities:
Net income	$ 63,846	$ 109,804
Adjustments to reconcile net income to cash provided by operating activities:
Provision for policy losses and other claims	117,477	97,712
Depreciation and amortization	31,449	32,934
Amortization of premiums and accretion of discounts on debt securities, net	9,952	5,464
Net realized investment losses (gains)	64,762	(32,682)
Share-based compensation	25,903	19,597
Equity in earnings of equity method investments, net	228	180
Dividends from equity method investments	1,402	545
Changes in assets and liabilities excluding effects of acquisitions and noncash transactions:
Claims paid, including assets acquired, net of recoveries	(108,538)	(99,992)
Net change in income tax accounts	5,181	29,186
(Increase) decrease in accounts and accrued income receivable	(45,747)	2,543
Decrease in accounts payable and accrued liabilities	(149,960)	(118,318)
Decrease in deferred revenue	(15,753)	(13,447)
Other, net	23,952	945
Cash provided by operating activities	24,154	34,471
Cash flows from investing activities:
Net cash effect of acquisitions/dispositions	(386,231)	(225)
Net decrease (increase) in deposits with banks	2,095	(8,824)
Purchases of debt and equity securities	(588,327)	(727,001)
Proceeds from sales of debt and equity securities	211,370	461,447
Proceeds from maturities of debt securities	320,523	136,670
Investments in unconsolidated entities	(44,795)	(75,000)
Net change in other investments	298	1,036
Advances under secured financing agreements	(3,028,490)	(985,478)
Collections of secured financings receivable	2,835,789	934,149
Capital expenditures	(29,213)	(27,386)
Proceeds from sales of property and equipment	14,141	12
Cash used for investing activities	(692,840)	(290,600)
Cash flows from financing activities:
Net change in deposits	93,916	135,720
Borrowings under secured financing agreements	2,998,687	985,878
Repayments of secured financings payable	(2,835,442)	(934,544)
Borrowings under unsecured credit agreement	120,000
Repayments of notes and contracts payable	(1,338)	(1,411)
Net activity related to noncontrolling interests	(1,328)	(1,065)
Net payments in connection with share-based compensation	(14,378)	(11,480)
Repurchases of Company shares	(65,785)	(2,066)
Payments of cash dividends	(49,702)	(47,021)
Cash provided by financing activities	244,630	124,011
Effect of exchange rate changes on cash	(11,918)	2,041
Net decrease in cash and cash equivalents	(435,974)	(130,077)
Cash and cash equivalents—Beginning of period	1,485,959	1,467,129
Cash and cash equivalents—End of period	1,049,985	1,337,052
Supplemental information:
Interest	9,462	10,353
Premium taxes	25,049	24,353
Income taxes, less refunds of $71 and $548	$ 3,239	$ 2,559

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement Of Cash Flows [Abstract]
Income taxes, refunds	$ 71	$ 548

Basis of Condensed Consolidated

Basis of Condensed Consolidated Financial Statements	3 Months Ended
	Mar. 31, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Condensed Consolidated Financial Statements	Note 1 – Basis of Condensed Consolidated Financial Statements Basis of Presentation The condensed consolidated financial information included in this report has been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and Article 10 of Securities and Exchange Commission (“SEC”) Regulation S-X. The principles for condensed interim financial information do not require the inclusion of all the information and footnotes required by GAAP for complete financial statements. Therefore, these financial statements should be read in conjunction with the First American Financial Corporation (the “Company”) Annual Report on Form 10-K for the year ended December 31, 2019. The condensed consolidated financial statements included herein are unaudited; however, in the opinion of management, they contain all normal recurring adjustments necessary for a fair statement of the consolidated results for the interim periods. All material intercompany transactions and balances have been eliminated upon consolidation. Recently Adopted Accounting Pronouncements In August 2018, the Financial Accounting Standards Board (“FASB”) issued updated guidance that is intended to reduce potential diversity in practice in accounting for the costs of implementing cloud computing arrangements (i.e., hosting arrangements) that are service contracts. The updated guidance aligns the requirements for capitalizing implementation costs for these arrangements with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software and hosting arrangements that include an internal-use software license. The updated guidance is effective for interim and annual reporting periods beginning after December 15, 2019. The adoption of this guidance, effective January 1, 2020, did not have a material impact on the Company’s condensed consolidated financial statements. In August 2018, the FASB issued updated guidance as part of its disclosure framework project intended to improve the effectiveness of disclosures in the notes to the financial statements. The updated guidance eliminates, adds and modifies certain disclosure requirements related to fair value measurements. The updated guidance is effective for interim and annual reporting periods beginning after December 15, 2019. The adoption of this guidance, effective January 1, 2020, did not have a material impact on the Company’s condensed consolidated financial statements. In January 2017, the FASB issued updated guidance intended to simplify how an entity tests goodwill for impairment by eliminating Step 2 from the goodwill impairment test. Under the updated guidance, an entity will perform its goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount and will recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value, with the loss recognized limited to the total amount of goodwill allocated to that reporting unit. The updated guidance is effective for interim and annual reporting periods beginning after December 15, 2019. The adoption of this guidance, effective January 1, 2020, did not have a material impact on the Company’s condensed consolidated financial statements. In June 2016, the FASB issued updated guidance intended to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. The updated guidance replaces the current incurred loss impairment methodology with a methodology that reflects expected credit losses and requires the consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The updated guidance is effective for interim and annual reporting periods beginning after December 15, 2019. The adoption of this guidance, effective January 1, 2020 and applied prospectively, did not have a material impact, except for the disclosure requirements, on the Company’s condensed consolidated financial statements. See Note 3 Debt and Equity Securities and Note 4 Credit Losses – Financial Assets and Off-Balance Sheet Credit Exposures for further information on the Company’s credit losses. Pending Accounting Pronouncements In December 2019, the FASB issued updated guidance intended to simplify and improve the accounting for income taxes. The updated guidance eliminates certain exceptions and clarifies and amends certain areas of the guidance. The updated guidance is effective for interim and annual reporting periods beginning after December 15, 2020, with early adoption permitted. The Company does not expect the adoption of this guidance to have a material impact on its condensed consolidated financial statements.

Escrow Deposits, Like-Kind Exch

Escrow Deposits, Like-Kind Exchange Deposits and Trust Assets	3 Months Ended
	Mar. 31, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Escrow Deposits, Like-Kind Exchange Deposits and Trust Assets	Note 2 – Escrow Deposits, Like-kind Exchange Deposits and Trust Assets The Company administers escrow deposits and trust assets as a service to its customers. Escrow deposits totaled $7.7 billion and $7.3 billion at March 31, 2020 and December 31, 2019, respectively, of which $3.3 billion and $3.2 billion, respectively, were held at First American Trust, FSB. The escrow deposits held at First American Trust, FSB are temporarily invested in cash and cash equivalents and debt securities, with offsetting liabilities included in deposits in the accompanying condensed consolidated balance sheets. The remaining escrow deposits were held at third-party financial institutions. Trust assets held or managed by First American Trust, FSB totaled $4.0 billion and $4.2 billion at March 31, 2020 and December 31, 2019, respectively. Escrow deposits held at third-party financial institutions and trust assets are not considered assets of the Company and, therefore, are not included in the accompanying condensed consolidated balance sheets. All such amounts are placed in deposit accounts insured, up to applicable limits, by the Federal Deposit Insurance Corporation. The Company could be held contingently liable for the disposition of these assets. In conducting its operations, the Company often holds customers’ assets in escrow, pending completion of real estate transactions and, as a result, the Company has ongoing programs for realizing economic benefits with various financial institutions. The results from these programs are included as income or a reduction in expense, as appropriate, in the condensed consolidated statements of income based on the nature of the arrangement and benefit received. The Company facilitates tax-deferred property exchanges for customers pursuant to Section 1031 of the Internal Revenue Code and tax-deferred reverse exchanges pursuant to Revenue Procedure 2000-37. As a facilitator and intermediary, the Company holds the proceeds from sales transactions and takes temporary title to property identified by the customer to be acquired with such proceeds. Upon the completion of each such exchange, the identified property is transferred to the customer or, if the exchange does not take place, an amount equal to the sales proceeds or, in the case of a reverse exchange, title to the property held by the Company is transferred to the customer. Like-kind exchange funds held by the Company totaled $2.9 billion and $3.0 billion at March 31, 2020 and December 31, 2019, respectively. The like-kind exchange deposits are held at third-party financial institutions and, due to the structure utilized to facilitate these transactions, the proceeds and property are not considered assets of the Company and, therefore, are not included in the accompanying condensed consolidated balance sheets. All such amounts are placed in deposit accounts insured, up to applicable limits, by the Federal Deposit Insurance Corporation. The Company could be held contingently liable to the customer for the transfers of property, disbursements of proceeds and the returns on such proceeds.

Debt and Equity Securities

Debt and Equity Securities	3 Months Ended
	Mar. 31, 2020
Investments Debt And Equity Securities [Abstract]
Debt and Equity Securities	Note 3 – Debt and Equity Securities On January 1, 2020, the Company adopted updated accounting guidance which changes the impairment methodology for available-for-sale debt securities. Under the new guidance, when the fair value of an available-for-sale debt security falls below its amortized cost, entities must determine whether the decline in fair value is due to credit-related factors or noncredit-related factors. Declines in fair value that are credit-related are now recorded on the balance sheet through an allowance for credit losses with a corresponding adjustment to earnings and declines that are noncredit-related are recognized through other comprehensive income/loss. Investments in debt securities, classified as available-for-sale, are as follows: (in thousands) Amortized Allowance for credit losses (1) Gross unrealized Estimated Gains Losses March 31, 2020 U.S. Treasury bonds $ 120,676 $ — $ 2,032 $ — $ 122,708 Municipal bonds 1,008,935 — 41,978 (1,971 ) 1,048,942 Foreign government bonds 154,968 (399 ) 4,254 (525 ) 158,298 Governmental agency bonds 285,947 — 13,153 (5 ) 299,095 Governmental agency mortgage-backed securities 3,264,553 — 91,671 (7,848 ) 3,348,376 U.S. corporate debt securities 547,250 (5,886 ) 12,250 (14,333 ) 539,281 Foreign corporate debt securities 329,595 (1,208 ) 3,121 (8,678 ) 322,830 $ 5,711,924 $ (7,493 ) $ 168,459 $ (33,360 ) $ 5,839,530 December 31, 2019 U.S. Treasury bonds $ 143,825 $ — $ 469 $ (353 ) $ 143,941 Municipal bonds 1,043,252 — 47,804 (217 ) 1,090,839 Foreign government bonds 179,554 — 1,497 (961 ) 180,090 Governmental agency bonds 316,318 — 5,820 (219 ) 321,919 Governmental agency mortgage-backed securities 3,241,966 — 43,599 (7,307 ) 3,278,258 U.S. corporate debt securities 535,878 — 18,466 (972 ) 553,372 Foreign corporate debt securities 335,962 — 9,468 (213 ) 345,217 $ 5,796,755 $ — $ 127,123 $ (10,242 ) $ 5,913,636 (1) Represents the amount of impairment resulting from credit-related factors and is included in net realized investment gains/losses in the condensed consolidated statements of income for the three months ended March 31, 2020. Sales of debt securities resulted in realized gains of $6.2 million and $3.1 million, realized losses of $1.3 million and $3.0 million, and proceeds of $209.4 million and $391.4 million for the three months ended March 31, 2020 and 2019, respectively. Gross unrealized losses on investments in debt securities for which an allowance for credit losses has not been recorded, are as follows: Less than 12 months 12 months or longer Total (in thousands) Estimated fair value Unrealized losses Estimated fair value Unrealized losses Estimated fair value Unrealized losses March 31, 2020 Municipal bonds $ 64,810 $ (1,965 ) $ 790 $ (6 ) $ 65,600 $ (1,971 ) Foreign government bonds 32,427 (525 ) — — 32,427 (525 ) Governmental agency bonds 1,540 (5 ) — — 1,540 (5 ) Governmental agency mortgage-backed securities 451,608 (3,315 ) 478,847 (4,533 ) 930,455 (7,848 ) U.S. corporate debt securities 225,547 (13,868 ) 2,869 (465 ) 228,416 (14,333 ) Foreign corporate debt securities 195,407 (8,629 ) 698 (49 ) 196,105 (8,678 ) $ 971,339 $ (28,307 ) $ 483,204 $ (5,053 ) $ 1,454,543 $ (33,360 ) December 31, 2019 U.S. Treasury bonds $ 12,507 $ (350 ) $ 3,193 $ (3 ) $ 15,700 $ (353 ) Municipal bonds 29,333 (207 ) 2,827 (10 ) 32,160 (217 ) Foreign government bonds 112,167 (934 ) 11,001 (27 ) 123,168 (961 ) Governmental agency bonds 24,493 (142 ) 14,923 (77 ) 39,416 (219 ) Governmental agency mortgage-backed securities 719,602 (2,785 ) 637,009 (4,522 ) 1,356,611 (7,307 ) U.S. corporate debt securities 42,607 (451 ) 10,216 (521 ) 52,823 (972 ) Foreign corporate debt securities 30,895 (108 ) 12,373 (105 ) 43,268 (213 ) $ 971,604 $ (4,977 ) $ 691,542 $ (5,265 ) $ 1,663,146 $ (10,242 ) Based on the Company’s review of its debt securities in an unrealized loss position for which an allowance for credit losses has not been recorded, it determined that the losses were due to non-credit factors, such as the sharp increase in market volatility due to the recent disruption in global financial markets as a result of the coronavirus pandemic and responses to it. As such, the Company does not consider these securities to be credit impaired at March 31, 2020. If the Company intends to sell a debt security in an unrealized loss position or determines that it is more likely than not that the Company will be required to sell a debt security before it recovers its amortized cost basis, the debt security is impaired and it is written down to fair value with all losses recognized in earnings. As of March 31, 2020, the Company did not intend to sell any debt securities in an unrealized loss position and it is not more likely than not that the Company will be required to sell any debt securities before recovery of their amortized cost basis. For debt securities in an unrealized loss position for which the Company does not intend to sell the debt security and it is not more likely than not that the Company will be required to sell the debt security, the Company determines whether the loss is due to credit-related factors or noncredit-related factors. For debt securities in an unrealized loss position for which the losses are primarily due to credit-related factors, the Company’s policy is to recognize the entire loss in earnings. For debt securities in an unrealized loss position for which the losses are determined to be the result of both credit-related and noncredit-related factors, the credit loss is determined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis of the debt security. The cash flows expected to be collected are discounted using the effective interest rate (i.e. purchase yield) and for variable rate securities the interest rate is fixed at the rate in effect at the credit loss measurement date. Expected future cash flows for debt securities are based on qualitative and quantitative factors specific to each security, including the probability of default and the estimated timing and amount of recovery. The detailed inputs used to project expected future cash flows may be different depending on the nature of the individual debt security. Activity in the allowance for credit losses on debt securities is summarized as follows: (in thousands) Three Months Ended Balance at beginning of period $ — Credit losses recognized during the period (7,493 ) Balance at end of period $ (7,493 ) In determining credit losses on its debt securities in an unrealized loss position, the Company considers certain factors that may include, among others, severity of the unrealized loss, security type, industry sector, credit rating, profitability and stock performance. The Company’s policy is to present accrued interest receivable on debt securities within accounts and accrued income receivable on the balance sheet. Accrued interest receivable on debt securities at March 31, 2020 totaled $27.2 million. The Company has elected to not measure an allowance for credit losses for accrued interest receivable on debt securities and maintains a policy that all receivables ninety days past due are written off as credit loss expense. Debt securities are placed on non-accrual status, and accrual of interest is discontinued, when management determines that collectibility of contractual amounts is not reasonably assured. Interest income is recognized on a cash basis for interest payments received on debt securities in non-accrual status. Investments in debt securities at March 31, 2020, by contractual maturities, are as follows: (in thousands) Due in one year or less Due after one through five years Due after five through ten years Due after ten years Total U.S. Treasury bonds Amortized cost $ 65,958 $ 51,199 $ 1,025 $ 2,494 $ 120,676 Estimated fair value $ 66,287 $ 52,545 $ 1,152 $ 2,724 $ 122,708 Municipal bonds Amortized cost $ 62,536 $ 130,688 $ 332,696 $ 483,015 $ 1,008,935 Estimated fair value $ 62,788 $ 132,402 $ 347,166 $ 506,586 $ 1,048,942 Foreign government bonds Amortized cost $ 22,647 $ 61,278 $ 57,108 $ 13,935 $ 154,968 Estimated fair value $ 22,652 $ 62,676 $ 59,523 $ 13,447 $ 158,298 Governmental agency bonds Amortized cost $ 7,673 $ 84,475 $ 132,414 $ 61,385 $ 285,947 Estimated fair value $ 7,733 $ 87,291 $ 137,197 $ 66,874 $ 299,095 U.S. corporate debt securities Amortized cost $ 23,210 $ 303,513 $ 173,846 $ 46,681 $ 547,250 Estimated fair value $ 23,192 $ 301,707 $ 167,908 $ 46,474 $ 539,281 Foreign corporate debt securities Amortized cost $ 23,461 $ 202,346 $ 75,858 $ 27,930 $ 329,595 Estimated fair value $ 23,428 $ 199,226 $ 73,886 $ 26,290 $ 322,830 Total debt securities excluding mortgage-backed securities Amortized cost $ 205,485 $ 833,499 $ 772,947 $ 635,440 $ 2,447,371 Estimated fair value $ 206,080 $ 835,847 $ 786,832 $ 662,395 $ 2,491,154 Total mortgage-backed securities Amortized cost $ 3,264,553 Estimated fair value $ 3,348,376 Total debt securities Amortized cost $ 5,711,924 Estimated fair value $ 5,839,530 Mortgage-backed securities, which include contractual terms to maturity, are not categorized by contractual maturity as borrowers may have the right to call or prepay obligations with, or without, call or prepayment penalties. Investments in equity securities are as follows: (in thousands) Cost Estimated fair value March 31, 2020 Preferred stocks $ 20,284 $ 13,308 Common stocks 396,635 363,988 $ 416,919 $ 377,296 December 31, 2019 Preferred stocks $ 21,849 $ 18,094 Common stocks 328,110 374,224 $ 349,959 $ 392,318 Net losses (realized and unrealized) of $82.5 million and net gains (realized and unrealized) of $32.5 million were recognized for the three months ended March 31, 2020 and 2019, respectively, as a result of changes in the fair values of equity securities. Included in net losses during the three months ended March 31, 2020 were net unrealized losses of $82.4 million related to equity securities still held at March 31, 2020, and included in net gains during the three months ended March 31, 2019 were net unrealized gains of $29.0 million related to equity securities still held at March 31, 2019. The composition of the investment portfolio at March 31, 2020, by credit rating, is as follows: A- or higher BBB+ to BBB- Non-Investment Grade Total (in thousands, except percentages) Estimated fair value Percentage Estimated fair value Percentage Estimated fair value Percentage Estimated fair value Percentage Debt securities: U.S. Treasury bonds $ 122,708 100.0 $ — — $ — — $ 122,708 100.0 Municipal bonds 1,003,827 95.7 43,777 4.2 1,338 0.1 1,048,942 100.0 Foreign government bonds 144,010 91.0 11,761 7.4 2,527 1.6 158,298 100.0 Governmental agency bonds 299,095 100.0 — — — — 299,095 100.0 Governmental agency mortgage-backed securities 3,348,376 100.0 — — — — 3,348,376 100.0 U.S. corporate debt securities 250,839 46.5 218,235 40.5 70,207 13.0 539,281 100.0 Foreign corporate debt securities 129,565 40.1 167,265 51.8 26,000 8.1 322,830 100.0 Total debt securities 5,298,420 90.7 441,038 7.6 100,072 1.7 5,839,530 100.0 Preferred stocks 28 0.2 12,589 94.6 691 5.2 13,308 100.0 Total $ 5,298,448 90.5 $ 453,627 7.8 $ 100,763 1.7 $ 5,852,838 100.0 Included in debt securities at March 31, 2020, were bank loans totaling $67.7 million, of which $61.4 million were non-investment grade; high yield corporate debt securities totaling $30.6 million, all of which were non-investment grade; and emerging market debt securities totaling $62.1 million, of which $6.7 million were non-investment grade. The composition of the debt securities portfolio in an unrealized loss position at March 31, 2020, by credit rating, is as follows: A- or higher BBB+ to BBB- Non-Investment Grade Total (in thousands, except percentages) Estimated fair value Percentage Estimated fair value Percentage Estimated fair value Percentage Estimated fair value Percentage Municipal bonds $ 46,321 70.6 $ 19,279 29.4 $ — — $ 65,600 100.0 Foreign government bonds 24,960 77.0 6,139 18.9 1,328 4.1 32,427 100.0 Governmental agency bonds 1,540 100.0 — — — — 1,540 100.0 Governmental agency mortgage-backed securities 930,455 100.0 — — — — 930,455 100.0 U.S. corporate debt securities 68,401 30.0 102,437 44.8 57,578 25.2 228,416 100.0 Foreign corporate debt securities 67,625 34.5 108,333 55.2 20,147 10.3 196,105 100.0 Total $ 1,139,302 78.4 $ 236,188 16.2 $ 79,063 5.4 $ 1,454,543 100.0 Debt securities in an unrealized loss position at March 31, 2020, included bank loans totaling $60.9 million, of which $54.7 million were non-investment grade; high yield corporate debt securities totaling $20.1 million, all of which were non-investment grade; and emerging market debt securities totaling $35.9 million, of which $4.3 million were non-investment grade. The credit ratings in the above tables reflect published ratings obtained from globally recognized securities rating agencies. If a security was rated differently among the rating agencies, the lowest rating was selected. Governmental agency mortgage-backed securities are not rated by any of the ratings agencies; however, these securities have been included in the above table in the “A- or higher” rating category because the payments of principal and interest are guaranteed by the governmental agency that issued the security.

Credit Losses - Financial Asset

Credit Losses - Financial Assets and Off - Balance Sheet Credit Exposures	3 Months Ended
	Mar. 31, 2020
Receivables [Abstract]
Credit Losses - Financial Assets and Off - Balance Sheet Credit Exposures	Note 4 – Credit Losses – Financial Assets and Off-Balance Sheet Credit Exposures On January 1, 2020, the Company adopted updated accounting guidance which requires financial assets measured at amortized cost to be presented at the net amount expected to be collected with credit losses recorded through an allowance account that is deducted from the amortized cost of the financial asset. The updated guidance also requires the measurement of expected credit losses on off-balance sheet credit exposures. The Company’s financial assets, which are measured at amortized cost, primarily include accounts receivable, accrued interest receivable and secured financings receivable. See Note 3 Debt and Equity Securities for discussion of accrued interest receivable on debt securities. Accounts and accrued income receivable Accounts receivable are generally due within thirty days and are recorded net of an allowance for credit losses. The Company considers accounts outstanding longer than the contractual payment terms as past due. The Company determines the allowance by considering a number of factors, including the length of time trade accounts receivable are past due, previous loss history, a specific customer’s ability to pay its obligations to the Company and the current condition, and future expectations, of the general economy and industry as a whole. Amounts are charged off in the period in which they are deemed to be uncollectible. Activity in the allowance for credit losses on accounts receivable is summarized as follows: (in thousands) Three Months Ended Balance at beginning of period (1) $ 12,676 Provision for expected credit losses 1,003 Write-offs, net of recoveries (2,103 ) Balance at end of period $ 11,576 (1) Amount reflects the allowance determined under previous accounting guidance. Transition to the updated guidance did not result in an adjustment to the allowance. The Company’s policy is to present accrued interest receivable on financial assets measured at amortized cost within accounts and accrued income receivable on the balance sheet. Accrued interest receivable at March 31, 2020 totaled $3.2 million. The Company has elected to not measure an allowance for credit losses for accrued interest receivable and maintains a policy that all receivables ninety days past due are written off as credit loss expense. Accounts are placed on non-accrual status, and accrual of interest is discontinued, when management determines that collectibility of contractual amounts is not reasonably assured. Payments of interest for accounts in non-accrual status are applied under the cost recovery method. Secured financings receivable The Company’s secured financings receivable are collateralized by mortgage loans on residential real estate. Collections of the receivable balance occur upon sale of the underlying mortgage loan to investors in the secondary market, generally within 30 days and more typically in less than 10 days. No allowance is recorded for credit losses due to, among other factors, the short-term nature of these receivables, investors in the underlying mortgage loans being typically identified prior to advances being made by the Company, the underlying mortgage loans are predominantly Qualified Mortgages (QM) and the receivable has no history of significant prior credit losses. Escrow deposits and like-kind exchange deposits Escrow deposits held at third-party financial institutions are not considered assets or liabilities of the Company and, therefore, are not included in the accompanying condensed consolidated balance sheets. All amounts are placed in deposit accounts insured, up to applicable limits, by the Federal Deposit Insurance Corporation. The Company could be held contingently liable for the disposition of these assets. The Company regularly reviews the financial strength of third-party financial institutions where escrow deposits are held and, based on this review and the fact that all amounts are placed in deposit accounts insured, up to applicable limits, by the Federal Deposit Insurance Corporation, does not expect any credit losses; therefore the Company has not recorded a liability for credit losses. Like-kind exchange deposits held at third-party financial institutions are not considered assets or liabilities of the Company and, therefore, are not included in the accompanying condensed consolidated balance sheets. All amounts are placed in deposit accounts insured, up to applicable limits, by the Federal Deposit Insurance Corporation. The Company could be held contingently liable to the customer for the transfers of property, disbursements of proceeds and the returns on such proceeds. The Company regularly reviews the financial strength of third-party financial institutions where like-kind exchange deposits are held and, based on this review and the fact that all amounts are placed in deposit accounts insured, up to applicable limits, by the Federal Deposit Insurance Corporation, does not expect any credit losses; therefore the Company has not recorded a liability for credit losses. See Note 2 Escrow Deposits, Like-Kind Exchange Deposits and Trust Assets for further information about the Company’s escrow deposits and like-kind exchange deposits.

Goodwill

Goodwill	3 Months Ended
	Mar. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill	Note 5 – Goodwill A summary of the changes in the carrying amount of goodwill, by reportable segment, for the three months ended March 31, 2020, is as follows: (in thousands) Title Insurance and Services Specialty Insurance Total Balance at December 31, 2019 $ 1,104,143 $ 46,765 $ 1,150,908 Acquisitions 236,242 — 236,242 Dispositions (358 ) — (358 ) Foreign currency translation (5,297 ) — (5,297 ) Balance at March 31, 2020 $ 1,334,730 $ 46,765 $ 1,381,495 The Company’s four reporting units for purposes of assessing goodwill for impairment are title insurance, home warranty, property and casualty insurance and trust and other services. During the three months ended March 31, 2020, there were no triggering events that would more likely than not reduce the fair value of any reporting unit below its carrying amount. For discussion about the Company’s acquisitions in 2020, see Note 16 Business Combinations.

Other Intangible Assets

Other Intangible Assets	3 Months Ended
	Mar. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Other Intangible Assets	Note 6 – Other Intangible Assets Other intangible assets consist of the following: (in thousands) March 31, 2020 December 31, 2019 Finite-lived intangible assets: Customer relationships $ 150,700 $ 99,905 Noncompete agreements 32,198 13,150 Trademarks 25,312 10,520 Internal-use software licenses 18,812 21,982 Patents 2,840 2,840 229,862 148,397 Accumulated amortization (62,786 ) (73,449 ) 167,076 74,948 Indefinite-lived intangible assets: Licenses 16,885 16,885 $ 183,961 $ 91,833 Amortization expense for finite-lived intangible assets was $6.3 million and $8.0 million for the three months ended March 31, 2020 and 2019, respectively. For discussion about the Company’s acquisitions in 2020, see Note 16 Business Combinations. Estimated amortization expense for finite-lived intangible assets for the next five years is as follows: Year (in thousands) Remainder of 2020 $ 28,650 2021 $ 28,394 2022 $ 27,285 2023 $ 25,461 2024 $ 20,094 2025 $ 14,352

Reserve for Known and Incurred

Reserve for Known and Incurred but Not Reported Claims	3 Months Ended
	Mar. 31, 2020
Insurance Loss Reserves [Abstract]
Reserve for Known and Incurred but Not Reported Claims	Note 7 – Reserve for Known and Incurred But Not Reported Claims Activity in the reserve for known and incurred but not reported claims is summarized as follows: Three Months Ended (in thousands) 2020 2019 Balance at beginning of period $ 1,063,044 $ 1,042,679 Provision related to: Current year 103,213 88,603 Prior years 14,264 9,109 117,477 97,712 Payments, net of recoveries, related to: Current year 32,685 30,446 Prior years 75,853 69,546 108,538 99,992 Other (14,445 ) (6,765 ) Balance at end of period $ 1,057,538 $ 1,033,634 The provision for title insurance losses, expressed as a percentage of title insurance premiums and escrow fees, was 5.0% and 4.0% for the three months ended March 31, 2020 and 2019, respectively. The current quarter rate of 5.0% reflects an ultimate loss rate of 4.5% for the current policy year and a net increase in the loss reserve estimates for prior policy years of $5.5 million. The 4.0% rate for the first quarter of 2019 reflected the ultimate loss rate for the 2019 policy year and no change in the loss reserve estimates for prior policy years. To date, the Company has not experienced an increase in title claims as a result of the coronavirus pandemic. For the three months ended March 31, 2020, the Company’s incurred title claims were 6.2% lower than the same period of the prior year and significantly below the Company’s actuarial expectation. However, title claims generally increase when economic conditions deteriorate. Due to the recent deterioration in economic conditions in connection with the coronavirus pandemic and responses to it, the Company increased its calendar year loss rate from 4.0% in 2019 to 5.0%. A summary of the Company’s loss reserves is as follows: (in thousands, except percentages) March 31, 2020 December 31, 2019 Known title claims $ 73,829 7.0 % $ 83,382 7.8 % Incurred but not reported claims 915,192 86.5 % 903,994 85.1 % Total title claims 989,021 93.5 % 987,376 92.9 % Non-title claims 68,517 6.5 % 75,668 7.1 % Total loss reserves $ 1,057,538 100.0 % $ 1,063,044 100.0 %

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Note 8 – Income Taxes The Company’s effective income tax rates (income tax expense as a percentage of income before income taxes) were 11.7% and 22.5% for the three months ended March 31, 2020 and 2019, respectively. The Company’s effective tax rates differ from the statutory federal rate of 21.0% due to state and foreign income taxes incurred, as well as permanent differences between amounts reported for financial statement purposes and amounts reported for income tax purposes, including the recognition of excess tax benefits or tax deficiencies associated with share-based payment transactions through income tax expense. In addition, the rate for 2020 reflects a benefit related to foreign tax law changes. The Company evaluates the realizability of its deferred tax assets by assessing the valuation allowance and makes adjustments to the allowance as necessary. The factors used by the Company to assess the likelihood of realization include its forecast of future taxable income and available tax planning strategies that could be implemented to realize its deferred tax assets. The Company’s ability or failure to achieve forecasted taxable income in the applicable taxing jurisdictions could affect the ultimate realization of its deferred tax assets. Based on future operating results in certain jurisdictions, it is possible that the current valuation allowance positions of those jurisdictions could be adjusted during the next 12 months. As of March 31, 2020 and December 31, 2019, the liability for income taxes associated with uncertain tax positions was $6.6 million and $1.5 million, respectively. The increase in the current quarter results primarily from positions taken on the Company’s tax returns for prior years. As of March 31, 2020 and December 31, 2019, the liability could be reduced by $1.8 million and $0.4 million, respectively, due to offsetting tax benefits associated with the correlative effects of potential adjustments, including timing adjustments and state income taxes. The net liability, if recognized, would favorably affect the Company’s effective income tax rate. The Company’s continuing practice is to recognize interest and penalties, if any, related to uncertain tax positions in income tax expense. As of March 31, 2020 and December 31, 2019, the Company had accrued interest and penalties, net of tax benefits, of $28 thousand and $26 thousand, respectively, related to uncertain tax positions. It is reasonably possible that the amount of the unrecognized benefit with respect to certain of the Company’s unrecognized tax positions may increase or decrease within the next 12 months. Any such change may be the result of ongoing audits or the expiration of federal and state statutes of limitations for the assessment of taxes. The Company, or one of its subsidiaries, files income tax returns in the U.S. federal jurisdiction, various state jurisdictions and various non-U.S. jurisdictions. The primary non-federal jurisdictions are California, Canada, India and the United Kingdom. As of March 31, 2020, the Company had concluded U.S. federal income tax examinations through 2015 and is generally no longer subject to state and non-U.S. income tax examinations for years prior to 2014.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Earnings Per Share	Note 9 – Earnings Per Share The computation of basic and diluted earnings per share is as follows: Three Months Ended (in thousands, except per share amounts) 2020 2019 Numerator Net income attributable to the Company $ 63,204 $ 109,575 Denominator Basic weighted-average shares 113,556 112,703 Effect of dilutive employee stock options and 403 521 Diluted weighted-average shares 113,959 113,224 Net income per share attributable to the Company’s stockholders Basic $ 0.56 $ 0.97 Diluted $ 0.55 $ 0.97 For the three months ended March 31, 2020 and 2019, 192 thousand and 301 thousand RSUs, respectively, were excluded from diluted weighted-average common shares outstanding due to their antidilutive effect. No stock options had a dilutive effect on weighted-average common shares outstanding during the three months ended March 31, 2020, as all remaining stock options outstanding were exercised during the fourth quarter of 2019.

Employee Benefit Plans

Employee Benefit Plans	3 Months Ended
	Mar. 31, 2020
Compensation And Retirement Disclosure [Abstract]
Employee Benefit Plans	Note 10 – Employee Benefit Plans Net periodic cost related to the Company’s unfunded supplemental benefit plans includes the following components: Three Months Ended (in thousands) 2020 2019 Expense: Service costs $ 45 $ 70 Interest costs 1,781 2,279 Amortization of net actuarial loss 1,320 915 Amortization of prior service credit (777 ) (1,018 ) $ 2,369 $ 2,246 The Company contributed $3.5 million to its unfunded supplemental benefit plans during the three months ended March 31, 2020, and expects to contribute an additional $11.9 million during the remainder of 2020.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 11 – Fair Value Measurements Certain of the Company’s assets are carried at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company categorizes its assets and liabilities carried at fair value using a three-level hierarchy for fair value measurements that distinguishes between market participant assumptions developed based on market data obtained from sources independent of the Company (observable inputs) and the Company’s own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The hierarchy for inputs used in determining fair value maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that observable inputs be used when available. The hierarchy level assigned to the assets and liabilities is based on management’s assessment of the transparency and reliability of the inputs used to estimate the fair values at the measurement date. The three hierarchy levels are defined as follows: Level 1—Valuations based on unadjusted quoted market prices in active markets for identical assets or liabilities. Level 2—Valuations based on observable inputs (other than Level 1 prices), such as quoted prices for similar assets or liabilities at the measurement date; quoted prices in markets that are not active; or other inputs that are observable, either directly or indirectly. Level 3—Valuations based on inputs that are unobservable and significant to the overall fair value measurement, and involve management judgment. If the inputs used to measure fair value fall into different levels of the fair value hierarchy, the hierarchy level assigned is based upon the lowest level of input that is significant to the fair value measurement. Assets measured at fair value on a recurring basis The valuation techniques and inputs used by the Company to estimate the fair value of assets measured on a recurring basis are summarized as follows: Debt securities The fair values of debt securities were based on the market values obtained from independent pricing services that were evaluated using pricing models that vary by asset class and incorporate available trade, bid and other market information and price quotes from well-established, independent broker-dealers. The independent pricing services monitor market indicators, industry and economic events, and for broker-quoted only securities, obtain quotes from market makers or broker-dealers that they recognize to be market participants. The pricing services utilize the market approach in determining the fair values of the debt securities held by the Company. The Company obtains an understanding of the valuation models and assumptions utilized by the services and has controls in place to determine that the values provided represent fair values. The Company’s validation procedures include comparing prices received from the pricing services to quotes received from other third party sources for certain securities with market prices that are readily verifiable. If the price comparison results in differences over a predefined threshold, the Company will assess the reasonableness of the changes relative to prior periods given the prevailing market conditions and assess changes in the issuers’ credit worthiness, performance of any underlying collateral and prices of the instrument relative to similar issuances. To date, the Company has not made any material adjustments to the fair value measurements provided by the pricing services. Typical inputs and assumptions to pricing models used to value the Company’s debt securities include, but are not limited to, benchmark yields, reported trades, broker-dealer quotes, credit spreads, credit ratings, bond insurance (if applicable), benchmark securities, bids, offers, reference data and industry and economic events. For mortgage-backed securities, inputs and assumptions may also include the structure of issuance, characteristics of the issuer, collateral attributes and prepayment speeds. Equity securities The fair values of equity securities, including preferred and common stocks, were based on quoted market prices for identical assets that are readily and regularly available in an active market. The following tables present the fair values of the Company’s assets, measured on a recurring basis, as of March 31, 2020 and December 31, 2019: (in thousands) Total Level 1 Level 2 Level 3 March 31, 2020 Debt securities: U.S. Treasury bonds $ 122,708 $ — $ 122,708 $ — Municipal bonds 1,048,942 — 1,048,942 — Foreign government bonds 158,298 — 158,298 — Governmental agency bonds 299,095 — 299,095 — Governmental agency mortgage-backed securities 3,348,376 — 3,348,376 — U.S. corporate debt securities 539,281 — 539,281 — Foreign corporate debt securities 322,830 — 322,830 — 5,839,530 — 5,839,530 — Equity securities: Preferred stocks 13,308 13,308 — — Common stocks 363,988 363,988 — — 377,296 377,296 — — Total assets $ 6,216,826 $ 377,296 $ 5,839,530 $ — (in thousands) Total Level 1 Level 2 Level 3 December 31, 2019 Debt securities: U.S. Treasury bonds $ 143,941 $ — $ 143,941 $ — Municipal bonds 1,090,839 — 1,090,839 — Foreign government bonds 180,090 — 180,090 — Governmental agency bonds 321,919 — 321,919 — Governmental agency mortgage-backed securities 3,278,258 — 3,278,258 — U.S. corporate debt securities 553,372 — 553,372 — Foreign corporate debt securities 345,217 — 345,217 — 5,913,636 — 5,913,636 — Equity securities: Preferred stocks 18,094 18,094 — — Common stocks 374,224 374,224 — — 392,318 392,318 — — Total assets $ 6,305,954 $ 392,318 $ 5,913,636 $ — There were no transfers between Levels 1, 2 and 3 during the three months ended March 31, 2020 and 2019. Transfers into or out of the Level 3 category occur when unobservable inputs become more or less significant to the fair value measurement. The Company’s policy is to recognize transfers between levels in the fair value hierarchy at the end of the reporting period. Financial instruments not measured at fair value In estimating the fair values of its financial instruments not measured at fair value, the Company used the following methods and assumptions: Cash and cash equivalents The carrying amount for cash and cash equivalents approximates fair value due to the short-term maturity of these investments. Deposits with banks The fair value of deposits with banks is estimated based on rates currently offered for deposits of similar remaining maturities, where applicable. Notes receivable, net The fair value of notes receivable, net is estimated based on current market rates offered for notes with similar maturities and credit quality. Secured financings receivable The carrying amount of secured financings receivable approximates fair value due to the short-term nature of these assets. Secured financings payable The carrying amount of secured financings payable approximates fair value due to the short-term nature of these liabilities. Notes and contracts payable The fair value of notes and contracts payable is estimated based on current rates offered for debt of similar remaining maturities. The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments not measured at fair value as of March 31, 2020 and December 31, 2019: Carrying Estimated fair value (in thousands) Amount Total Level 1 Level 2 Level 3 March 31, 2020 Assets: Cash and cash equivalents $ 1,049,985 $ 1,049,985 $ 1,049,985 $ — $ — Deposits with banks $ 39,425 $ 39,461 $ 2,030 $ 37,431 $ — Notes receivable, net $ 18,694 $ 17,212 $ — $ — $ 17,212 Secured financings receivable $ 480,160 $ 480,160 $ — $ 480,160 $ — Liabilities: Secured financings payable $ 441,657 $ 441,657 $ — $ 441,657 $ — Notes and contracts payable $ 847,159 $ 900,755 $ — $ 896,153 $ 4,602 Carrying Estimated fair value (in thousands) Amount Total Level 1 Level 2 Level 3 December 31, 2019 Assets: Cash and cash equivalents $ 1,485,959 $ 1,485,959 $ 1,485,959 $ — $ — Deposits with banks $ 44,422 $ 44,339 $ 4,074 $ 40,265 $ — Notes receivable, net $ 18,970 $ 19,422 $ — $ — $ 19,422 Secured financings receivable $ 287,459 $ 287,459 $ — $ 287,459 $ — Liabilities: Secured financings payable $ 278,412 $ 278,412 $ — $ 278,412 $ — Notes and contracts payable $ 728,232 $ 761,224 $ — $ 756,306 $ 4,918

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Mar. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-Based Compensation	Note 12 – Share-Based Compensation The following table presents costs associated with the Company’s share-based compensation plans: Three Months Ended (in thousands) 2020 2019 Expense: RSUs $ 24,658 $ 18,348 Employee stock purchase plan 1,245 1,249 $ 25,903 $ 19,597 The following table summarizes RSU activity for the three months ended March 31, 2020: (in thousands, except weighted-average grant-date fair value) Shares Weighted-average grant-date fair value Unvested at December 31, 2019 1,152 $ 49.25 Granted during 2020 717 $ 64.68 Vested during 2020 (788 ) $ 52.68 Forfeited during 2020 (3 ) $ 55.12 Unvested at March 31, 2020 1,078 $ 56.99

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Stockholders' Equity	Note 13 – Stockholders’ Equity The Company maintains a stock repurchase plan with authorization up to $250.0 million, of which $95.8 million remained as of March 31, 2020. Purchases may be made from time to time by the Company in the open market at prevailing market prices or in privately negotiated transactions. During the three months ended March 31, 2020, the Company repurchased and retired 1.7 million shares of its common stock for a total purchase price of $65.8 million and as of March 31, 2020, had repurchased and retired 5.3 million shares of its common stock under the current authorization for a total purchase price of $154.2 million.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss) ("AOCI")	3 Months Ended
	Mar. 31, 2020
Accumulated Other Comprehensive Income Other Comprehensive Income [Abstract]
Accumulated Other Comprehensive Income (Loss) ("AOCI")	Note 14 – Accumulated Other Comprehensive Income (Loss) (“AOCI”) The following table presents a summary of the changes in each component of AOCI for the three months ended March 31, 2020: First American Financial Corporation NCI (in thousands) Unrealized Foreign Pension Accumulated Accumulated Balance Balance at December 31, 2019 $ 83,117 $ (51,668 ) $ (72,941 ) $ (41,492 ) $ 1 $ (41,491 ) Change in unrealized gains (losses) on debt securities 18,096 — — 18,096 — 18,096 Change in unrealized gains (losses) on debt securities for which credit-related portion was recognized in earnings 122 — — 122 — 122 Change in foreign currency translation adjustment — (34,688 ) — (34,688 ) — (34,688 ) Amortization of net actuarial loss — — 1,320 1,320 — 1,320 Amortization of prior service credit — — (777 ) (777 ) — (777 ) Tax effect (5,514 ) 1,132 (144 ) (4,526 ) — (4,526 ) Balance at March 31, 2020 $ 95,821 $ (85,224 ) $ (72,542 ) $ (61,945 ) $ 1 $ (61,944 ) The following table presents the other comprehensive income (loss) reclassification adjustments for the three months ended March 31, 2020 and 2019: (in thousands) Unrealized gains (losses) on debt securities Foreign currency translation adjustment Pension benefit adjustment Total other comprehensive income (loss) Three Months Ended March 31, 2020 Pretax change before reclassifications $ 15,396 $ (34,688 ) $ — $ (19,292 ) Reclassifications out of AOCI 2,822 — 543 3,365 Tax effect (5,514 ) 1,132 (144 ) (4,526 ) Total other comprehensive income (loss), net of tax $ 12,704 $ (33,556 ) $ 399 $ (20,453 ) Three Months Ended March 31, 2019 Pretax change before reclassifications $ 77,765 $ 7,166 $ — $ 84,931 Reclassifications out of AOCI 41 — (103 ) (62 ) Tax effect (18,301 ) (278 ) 27 (18,552 ) Total other comprehensive income (loss), net of tax $ 59,505 $ 6,888 $ (76 ) $ 66,317 The following table presents the effects of the reclassifications out of AOCI on the respective line items in the condensed consolidated statements of income: (in thousands) Amounts reclassified from AOCI Affected line items in the condensed Three Months Ended March 31, 2020 2019 Unrealized gains (losses) on debt securities: Net realized gains (losses) on sales of $ 4,671 $ (41 ) Net realized investment (losses) gains Credit losses recognized on debt securities (7,493 ) — Net realized investment (losses) gains Pretax total $ (2,822 ) $ (41 ) Tax effect $ 854 $ 10 Pension benefit adjustment (1): Amortization of net actuarial loss $ (1,320 ) $ (915 ) Other operating expenses Amortization of prior service credit 777 1,018 Other operating expenses Pretax total $ (543 ) $ 103 Tax effect $ 224 $ (27 ) (1) These components of AOCI are components of net periodic cost. See Note 10 Employee Benefit Plans for additional details.

Litigation and Regulatory Conti

Litigation and Regulatory Contingencies	3 Months Ended
	Mar. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
Litigation and Regulatory Contingencies	Note 15 – Litigation and Regulatory Contingencies The Company and its subsidiaries are parties to a number of non-ordinary course lawsuits. These lawsuits frequently are similar in nature to other lawsuits pending against the Company’s competitors. For those non-ordinary course lawsuits where the Company has determined that a loss is both probable and reasonably estimable, a liability representing the best estimate of the Company’s financial exposure based on known facts has been recorded. Actual losses may materially differ from the amounts recorded. It is, however, often not possible to assess the probability of loss. Lawsuits that are putative class actions require a plaintiff to satisfy a number of procedural requirements before proceeding to trial. These requirements include, among others, demonstration to a court that the law proscribes in some manner the Company’s activities, the making of factual allegations sufficient to suggest that the Company’s activities exceeded the limits of the law and a determination by the court—known as class certification—that the law permits a group of individuals to pursue the case together as a class. In certain instances, the Company may also be able to compel the plaintiff to arbitrate its claim on an individual basis. If these procedural requirements are not met, either the lawsuit cannot proceed or, as is the case with class certification or compelled arbitration, the plaintiffs lose the financial incentive to proceed with the case (or the amount at issue effectively becomes de minimis). Frequently, a court’s determination as to these procedural requirements is subject to appeal to a higher court. As a result of, among other factors, ambiguities and inconsistencies in the laws applicable to the Company’s business and the uniqueness of the factual issues presented in any given lawsuit, the Company often cannot determine the probability of loss until a court has finally determined that a plaintiff has satisfied applicable procedural requirements. Furthermore, for putative class actions, it is often impossible to estimate the possible loss or a range of loss amounts, even where the Company has determined that a loss is reasonably possible. Generally class actions involve a large number of people and the effort to determine which people satisfy the requirements to become plaintiffs—or class members—is often time consuming and burdensome. Moreover, these lawsuits raise complex factual issues which result in uncertainty as to their outcome and, ultimately, make it difficult for the Company to estimate the amount of damages which a plaintiff might successfully prove. In addition, many of the Company’s businesses are regulated by various federal, state, local and foreign governmental agencies and are subject to numerous statutory guidelines. These regulations and statutory guidelines often are complex, inconsistent or ambiguous, which results in additional uncertainty as to the outcome of a given lawsuit—including the amount of damages a plaintiff might be afforded—or makes it difficult to analogize experience in one case or jurisdiction to another case or jurisdiction. Most of the non-ordinary course lawsuits to which the Company and its subsidiaries are parties challenge practices in the Company’s title insurance business, though a limited number of cases also pertain to the Company’s other businesses. These lawsuits include, among others, cases alleging, among other assertions, that the Company or one of its subsidiaries improperly charged fees for products and services, improperly handled property and casualty claims and gave items of value to builders as inducements to refer business in violation of certain laws, such as consumer protection laws and laws generally prohibiting unfair business practices, and certain obligations, including: • Antao Properties LLC vs. First American Title Insurance Company, filed on November 6, 2019 and pending in the United States District Court for the Middle District of Florida, • Tenefufu vs. First American Specialty Insurance Company, filed on June 1, 2017 and pending in the Superior Court of the State of California, County of Sacramento, and • Wilmot v. First American Financial Corporation, et al., filed on April 20, 2007 and pending in the Superior Court of the State of California, County of Los Angeles. These lawsuits are putative class actions for which a class has not been certified. For the reasons described above, the Company has not yet been able to assess the probability of loss or estimate the possible loss or the range of loss. The Company and/or its subsidiaries are also parties to numerous class action lawsuits as a result of the information security incident that occurred during the second quarter of 2019 . All of these lawsuits are putative class actions for which a class has not been certified. For the reasons described above, the Company has not yet been able to assess the probability of loss or estimate the possible loss or the range of loss. While some of the lawsuits described above may be material to the Company’s operating results in any particular period if an unfavorable outcome results, the Company does not believe that any of these lawsuits will have a material adverse effect on the Company’s overall financial condition or liquidity. The Company also is a party to non-ordinary course lawsuits other than those described above. With respect to these lawsuits, the Company has determined either that a loss is not reasonably possible or that the estimated loss or range of loss, if any, is not material to the condensed consolidated financial statements as a whole. The Company’s title insurance, property and casualty insurance, home warranty, banking, thrift, trust and wealth management businesses are regulated by various federal, state and local governmental agencies. Many of the Company’s other businesses operate within statutory guidelines. Consequently, the Company may from time to time be subject to examination or investigation by such governmental agencies. Currently, governmental agencies are examining or investigating certain of the Company’s operations. These include numerous regulatory inquiries and/or investigations as a result of the information security incident that occurred during the second quarter of 2019, including inquiries and/or investigations of certain state insurance regulators, the Federal Trade Commission and the Securities and Exchange Commission. These also include an inquiry by the New York Attorney General and the Massachusetts Attorney General into competitive practices in the title insurance industry. With respect to matters where the Company has determined that a loss is both probable and reasonably estimable, the Company records a liability representing its best estimate of the financial exposure based on known facts. While the ultimate disposition of each such exam or investigation is not yet determinable, the Company does not believe that individually or in the aggregate they will have a material adverse effect on the Company’s financial condition, results of operations or cash flows. These exams or investigations could, however, result in changes to the Company’s business practices which could ultimately have a material adverse impact on the Company’s financial condition, results of operations or cash flows. The Company’s Canadian operations provide certain services to lenders which it believes to be exempt from excise tax under applicable Canadian tax laws. However, in October 2014, the Canadian taxing authority provided internal guidance that the services in question should be subject to the excise tax. During July 2019, the Company received an assessment from the Canadian taxing authority. The amount of the assessment is $13.8 million, which is based on the exchange rate as of, and includes interest charges through, March 31, 2020. As the Company does not believe that the services in question are subject to excise tax, it intends to avail itself of avenues of appeal, and it believes it is reasonably likely that the Company will prevail on the merits. Accordingly, the Company filed a notice of appeal with the Canadian taxing authority in March 2020. Based on the current facts and circumstances, the Company does not believe a loss is probable, therefore no liability has been recorded. The Company and its subsidiaries also are involved in numerous ongoing routine legal and regulatory proceedings related to their operations. With respect to each of these proceedings, the Company has determined either that a loss is not reasonably possible or that the estimated loss or range of loss, if any, is not material to the condensed consolidated financial statements as a whole.

Business Combinations

Business Combinations	3 Months Ended
	Mar. 31, 2020
Business Combinations [Abstract]
Business Combinations	Note 16 – Business Combinations During the three months ended March 31, 2020, the Company completed acquisitions for an aggregate purchase price of $391.9 million, which were funded through cash on hand and additional borrowings of $120.0 million under the Company’s credit facility. For acquisitions in which the Company has not completed its purchase price allocation, preliminary fair value estimates for the assets acquired and liabilities assumed have been recorded. The Company allocates the purchase price of each acquisition to the assets acquired and liabilities assumed using a variety of valuation techniques, including discounted cash flow analysis. These acquisitions have been included in the Company’s title insurance and services segment. Current quarter acquisitions included the purchase of a company that provides document, eClose and fulfillment technology for the mortgage industry on March 2, 2020 for a purchase price of $350.0 million. In connection with the purchase, the Company has recorded preliminary estimates for goodwill, property and equipment and other intangible assets of $197.9 million, $50.0 million and $90.0 million, respectively.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Segment Information	Note 17 – Segment Information The Company consists of the following reportable segments and a corporate function: • The Company’s title insurance and services segment issues title insurance policies on residential and commercial property in the United States and offers similar or related products and services internationally. This segment also provides closing and/or escrow services; accommodates tax-deferred exchanges of real estate; provides products, services and solutions designed to mitigate risk or otherwise facilitate real estate transactions, many of which products, services and solutions involve the use of real property-related data; maintains, manages and provides access to title plant data and records; provides document generation and delivery services; and provides appraisals and other valuation-related products and services, lien release and document custodial services, warehouse lending services, default-related products and services, evidence of title, and banking, trust and wealth management services. The Company, through its principal title insurance subsidiary and such subsidiary’s affiliates, transacts its title insurance business through a network of direct operations and agents. Through this network, the Company issues policies in the 49 states that permit the issuance of title insurance policies, the District of Columbia and certain United States territories. The Company also offers title insurance, closing services and similar or related products and services, either directly or through third parties in other countries, including Canada, the United Kingdom, Australia, South Korea and various other established and emerging markets. • The Company’s specialty insurance segment issues property and casualty insurance policies and sells home warranty products. The property and casualty insurance business provides insurance coverage to residential homeowners and renters for liability losses and typical hazards such as fire, theft, vandalism and other types of property damage. This business is licensed to issue policies in all 50 states and the District of Columbia and actively issues policies in 46 states. The majority of policy liability is in the western United States, including approximately 59% in California. In certain markets it also offers preferred risk auto insurance to better compete with other carriers offering bundled home and auto insurance. The home warranty business provides residential service contracts that cover residential systems, such as heating and air conditioning systems, and certain appliances against failures that occur as the result of normal usage during the coverage period. This business currently operates in 36 states and the District of Columbia. The corporate function consists primarily of certain financing facilities as well as the corporate services that support the Company’s business operations. Selected financial information about the Company’s operations, by segment, is as follows: For the three months ended March 31, 2020: (in thousands) Revenues Income (loss) before income taxes Depreciation and amortization Capital expenditures Title Insurance and Services $ 1,300,625 $ 72,976 $ 29,517 $ 28,423 Specialty Insurance 121,969 12,857 1,894 2,801 Corporate (9,311 ) (13,509 ) 38 — Eliminations (340 ) — — — $ 1,412,943 $ 72,324 $ 31,449 $ 31,224 (in thousands) Direct premiums and escrow fees Agent premiums Information and other Net investment income Net realized investment gains (losses) Total Revenues Title Insurance and Services $ 501,301 $ 599,682 $ 208,273 $ 59,668 $ (68,299 ) $ 1,300,625 Specialty Insurance 119,336 — 3,439 2,584 (3,390 ) 121,969 $ 620,637 $ 599,682 $ 211,712 $ 62,252 $ (71,689 ) $ 1,422,594 For the three months ended March 31, 2019: (in thousands) Revenues Income (loss) before income taxes Depreciation and amortization Capital expenditures Title Insurance and Services $ 1,172,180 $ 142,007 $ 31,162 $ 25,479 Specialty Insurance 122,182 17,785 1,734 2,497 Corporate 9,559 (18,122 ) 38 — Eliminations (340 ) — — — $ 1,303,581 $ 141,670 $ 32,934 $ 27,976 (in thousands) Direct premiums and escrow fees Agent premiums Information and other Net investment income Net realized investment gains (losses) Total Revenues Title Insurance and Services $ 402,756 $ 501,537 $ 170,089 $ 70,053 $ 27,745 $ 1,172,180 Specialty Insurance 111,446 — 3,067 2,732 4,937 122,182 $ 514,202 $ 501,537 $ 173,156 $ 72,785 $ 32,682 $ 1,294,362

Coronavirus Pandemic

Coronavirus Pandemic	3 Months Ended
	Mar. 31, 2020
Loss Contingency [Abstract]
Coronavirus Pandemic	Note 18 – Coronavirus Pandemic The coronavirus pandemic and responses to it have created significant volatility, uncertainty and economic disruption. The extent to which the coronavirus pandemic impacts the Company’s business, operations and financial results will depend on numerous factors that the Company may not be able to accurately predict, including: the duration and scope of the pandemic and restrictions and responses to it; governmental, business and individual actions that have been and will continue to be taken in response to the pandemic; the ongoing impact of the pandemic on economic activity and actions taken in response, including the efficacy of governmental relief efforts; the effect on participants in real estate transactions and the demand for the Company’s products and services, including as a result of higher unemployment, business closures and economic uncertainty; and the Company’s ability to sell and provide its services and solutions, including as a result of illness, travel restrictions, people working from home, governmental closure orders and partial or full closures of business and government offices. During the first quarter of 2020, for example, the Company experienced increased volatility in its investment portfolio. Also, the number of residential purchase orders opened by the Company’s direct title operations declined sharply in the middle of March 2020. For the first three weeks in April 2020, open purchase orders are down 43.4% compared to the same three weeks of 2019. In addition, revenue from the Company’s commercial business, for the first three weeks in April 2020, has declined 44.1% compared to the same three weeks of 2019.

Basis of Condensed Consolidat_2

Basis of Condensed Consolidated Financial Statements (Policies)	3 Months Ended
	Mar. 31, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In August 2018, the Financial Accounting Standards Board (“FASB”) issued updated guidance that is intended to reduce potential diversity in practice in accounting for the costs of implementing cloud computing arrangements (i.e., hosting arrangements) that are service contracts. The updated guidance aligns the requirements for capitalizing implementation costs for these arrangements with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software and hosting arrangements that include an internal-use software license. The updated guidance is effective for interim and annual reporting periods beginning after December 15, 2019. The adoption of this guidance, effective January 1, 2020, did not have a material impact on the Company’s condensed consolidated financial statements. In August 2018, the FASB issued updated guidance as part of its disclosure framework project intended to improve the effectiveness of disclosures in the notes to the financial statements. The updated guidance eliminates, adds and modifies certain disclosure requirements related to fair value measurements. The updated guidance is effective for interim and annual reporting periods beginning after December 15, 2019. The adoption of this guidance, effective January 1, 2020, did not have a material impact on the Company’s condensed consolidated financial statements. In January 2017, the FASB issued updated guidance intended to simplify how an entity tests goodwill for impairment by eliminating Step 2 from the goodwill impairment test. Under the updated guidance, an entity will perform its goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount and will recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value, with the loss recognized limited to the total amount of goodwill allocated to that reporting unit. The updated guidance is effective for interim and annual reporting periods beginning after December 15, 2019. The adoption of this guidance, effective January 1, 2020, did not have a material impact on the Company’s condensed consolidated financial statements. In June 2016, the FASB issued updated guidance intended to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. The updated guidance replaces the current incurred loss impairment methodology with a methodology that reflects expected credit losses and requires the consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The updated guidance is effective for interim and annual reporting periods beginning after December 15, 2019. The adoption of this guidance, effective January 1, 2020 and applied prospectively, did not have a material impact, except for the disclosure requirements, on the Company’s condensed consolidated financial statements. See Note 3 Debt and Equity Securities and Note 4 Credit Losses – Financial Assets and Off-Balance Sheet Credit Exposures for further information on the Company’s credit losses.
Pending Accounting Pronouncements	Pending Accounting Pronouncements In December 2019, the FASB issued updated guidance intended to simplify and improve the accounting for income taxes. The updated guidance eliminates certain exceptions and clarifies and amends certain areas of the guidance. The updated guidance is effective for interim and annual reporting periods beginning after December 15, 2020, with early adoption permitted. The Company does not expect the adoption of this guidance to have a material impact on its condensed consolidated financial statements.

Debt and Equity Securities (Tab

Debt and Equity Securities (Tables)	3 Months Ended
	Mar. 31, 2020
Investments Debt And Equity Securities [Abstract]
Investments in Debt Securities, Classified as Available-For-Sale	Investments in debt securities, classified as available-for-sale, are as follows: (in thousands) Amortized Allowance for credit losses (1) Gross unrealized Estimated Gains Losses March 31, 2020 U.S. Treasury bonds $ 120,676 $ — $ 2,032 $ — $ 122,708 Municipal bonds 1,008,935 — 41,978 (1,971 ) 1,048,942 Foreign government bonds 154,968 (399 ) 4,254 (525 ) 158,298 Governmental agency bonds 285,947 — 13,153 (5 ) 299,095 Governmental agency mortgage-backed securities 3,264,553 — 91,671 (7,848 ) 3,348,376 U.S. corporate debt securities 547,250 (5,886 ) 12,250 (14,333 ) 539,281 Foreign corporate debt securities 329,595 (1,208 ) 3,121 (8,678 ) 322,830 $ 5,711,924 $ (7,493 ) $ 168,459 $ (33,360 ) $ 5,839,530 December 31, 2019 U.S. Treasury bonds $ 143,825 $ — $ 469 $ (353 ) $ 143,941 Municipal bonds 1,043,252 — 47,804 (217 ) 1,090,839 Foreign government bonds 179,554 — 1,497 (961 ) 180,090 Governmental agency bonds 316,318 — 5,820 (219 ) 321,919 Governmental agency mortgage-backed securities 3,241,966 — 43,599 (7,307 ) 3,278,258 U.S. corporate debt securities 535,878 — 18,466 (972 ) 553,372 Foreign corporate debt securities 335,962 — 9,468 (213 ) 345,217 $ 5,796,755 $ — $ 127,123 $ (10,242 ) $ 5,913,636
Gross Unrealized Losses on Investments in Debt Securities	Gross unrealized losses on investments in debt securities for which an allowance for credit losses has not been recorded, are as follows: Less than 12 months 12 months or longer Total (in thousands) Estimated fair value Unrealized losses Estimated fair value Unrealized losses Estimated fair value Unrealized losses March 31, 2020 Municipal bonds $ 64,810 $ (1,965 ) $ 790 $ (6 ) $ 65,600 $ (1,971 ) Foreign government bonds 32,427 (525 ) — — 32,427 (525 ) Governmental agency bonds 1,540 (5 ) — — 1,540 (5 ) Governmental agency mortgage-backed securities 451,608 (3,315 ) 478,847 (4,533 ) 930,455 (7,848 ) U.S. corporate debt securities 225,547 (13,868 ) 2,869 (465 ) 228,416 (14,333 ) Foreign corporate debt securities 195,407 (8,629 ) 698 (49 ) 196,105 (8,678 ) $ 971,339 $ (28,307 ) $ 483,204 $ (5,053 ) $ 1,454,543 $ (33,360 ) December 31, 2019 U.S. Treasury bonds $ 12,507 $ (350 ) $ 3,193 $ (3 ) $ 15,700 $ (353 ) Municipal bonds 29,333 (207 ) 2,827 (10 ) 32,160 (217 ) Foreign government bonds 112,167 (934 ) 11,001 (27 ) 123,168 (961 ) Governmental agency bonds 24,493 (142 ) 14,923 (77 ) 39,416 (219 ) Governmental agency mortgage-backed securities 719,602 (2,785 ) 637,009 (4,522 ) 1,356,611 (7,307 ) U.S. corporate debt securities 42,607 (451 ) 10,216 (521 ) 52,823 (972 ) Foreign corporate debt securities 30,895 (108 ) 12,373 (105 ) 43,268 (213 ) $ 971,604 $ (4,977 ) $ 691,542 $ (5,265 ) $ 1,663,146 $ (10,242 )
Rollforward of Allowance for Credit Losses for Investments in Debt Securities	Activity in the allowance for credit losses on debt securities is summarized as follows: (in thousands) Three Months Ended Balance at beginning of period $ — Credit losses recognized during the period (7,493 ) Balance at end of period $ (7,493 )
Investments in Debt Securities by Contractual Maturity	Investments in debt securities at March 31, 2020, by contractual maturities, are as follows: (in thousands) Due in one year or less Due after one through five years Due after five through ten years Due after ten years Total U.S. Treasury bonds Amortized cost $ 65,958 $ 51,199 $ 1,025 $ 2,494 $ 120,676 Estimated fair value $ 66,287 $ 52,545 $ 1,152 $ 2,724 $ 122,708 Municipal bonds Amortized cost $ 62,536 $ 130,688 $ 332,696 $ 483,015 $ 1,008,935 Estimated fair value $ 62,788 $ 132,402 $ 347,166 $ 506,586 $ 1,048,942 Foreign government bonds Amortized cost $ 22,647 $ 61,278 $ 57,108 $ 13,935 $ 154,968 Estimated fair value $ 22,652 $ 62,676 $ 59,523 $ 13,447 $ 158,298 Governmental agency bonds Amortized cost $ 7,673 $ 84,475 $ 132,414 $ 61,385 $ 285,947 Estimated fair value $ 7,733 $ 87,291 $ 137,197 $ 66,874 $ 299,095 U.S. corporate debt securities Amortized cost $ 23,210 $ 303,513 $ 173,846 $ 46,681 $ 547,250 Estimated fair value $ 23,192 $ 301,707 $ 167,908 $ 46,474 $ 539,281 Foreign corporate debt securities Amortized cost $ 23,461 $ 202,346 $ 75,858 $ 27,930 $ 329,595 Estimated fair value $ 23,428 $ 199,226 $ 73,886 $ 26,290 $ 322,830 Total debt securities excluding mortgage-backed securities Amortized cost $ 205,485 $ 833,499 $ 772,947 $ 635,440 $ 2,447,371 Estimated fair value $ 206,080 $ 835,847 $ 786,832 $ 662,395 $ 2,491,154 Total mortgage-backed securities Amortized cost $ 3,264,553 Estimated fair value $ 3,348,376 Total debt securities Amortized cost $ 5,711,924 Estimated fair value $ 5,839,530
Investments in Equity Securities	Investments in equity securities are as follows: (in thousands) Cost Estimated fair value March 31, 2020 Preferred stocks $ 20,284 $ 13,308 Common stocks 396,635 363,988 $ 416,919 $ 377,296 December 31, 2019 Preferred stocks $ 21,849 $ 18,094 Common stocks 328,110 374,224 $ 349,959 $ 392,318
Composition of Investment Portfolio by Credit Rating Agencies	The composition of the investment portfolio at March 31, 2020, by credit rating, is as follows: A- or higher BBB+ to BBB- Non-Investment Grade Total (in thousands, except percentages) Estimated fair value Percentage Estimated fair value Percentage Estimated fair value Percentage Estimated fair value Percentage Debt securities: U.S. Treasury bonds $ 122,708 100.0 $ — — $ — — $ 122,708 100.0 Municipal bonds 1,003,827 95.7 43,777 4.2 1,338 0.1 1,048,942 100.0 Foreign government bonds 144,010 91.0 11,761 7.4 2,527 1.6 158,298 100.0 Governmental agency bonds 299,095 100.0 — — — — 299,095 100.0 Governmental agency mortgage-backed securities 3,348,376 100.0 — — — — 3,348,376 100.0 U.S. corporate debt securities 250,839 46.5 218,235 40.5 70,207 13.0 539,281 100.0 Foreign corporate debt securities 129,565 40.1 167,265 51.8 26,000 8.1 322,830 100.0 Total debt securities 5,298,420 90.7 441,038 7.6 100,072 1.7 5,839,530 100.0 Preferred stocks 28 0.2 12,589 94.6 691 5.2 13,308 100.0 Total $ 5,298,448 90.5 $ 453,627 7.8 $ 100,763 1.7 $ 5,852,838 100.0
Composition of Debt Securities Portfolio in Unrealized Loss Position by Credit Rating Agencies	The composition of the debt securities portfolio in an unrealized loss position at March 31, 2020, by credit rating, is as follows: A- or higher BBB+ to BBB- Non-Investment Grade Total (in thousands, except percentages) Estimated fair value Percentage Estimated fair value Percentage Estimated fair value Percentage Estimated fair value Percentage Municipal bonds $ 46,321 70.6 $ 19,279 29.4 $ — — $ 65,600 100.0 Foreign government bonds 24,960 77.0 6,139 18.9 1,328 4.1 32,427 100.0 Governmental agency bonds 1,540 100.0 — — — — 1,540 100.0 Governmental agency mortgage-backed securities 930,455 100.0 — — — — 930,455 100.0 U.S. corporate debt securities 68,401 30.0 102,437 44.8 57,578 25.2 228,416 100.0 Foreign corporate debt securities 67,625 34.5 108,333 55.2 20,147 10.3 196,105 100.0 Total $ 1,139,302 78.4 $ 236,188 16.2 $ 79,063 5.4 $ 1,454,543 100.0

Credit Losses - Financial Ass_2

Credit Losses - Financial Assets and Off - Balance Sheet Credit Exposures (Tables)	3 Months Ended
	Mar. 31, 2020
Receivables [Abstract]
Summary of Allowance for Credit Losses on Accounts Receivables	Activity in the allowance for credit losses on accounts receivable is summarized as follows: (in thousands) Three Months Ended Balance at beginning of period (1) $ 12,676 Provision for expected credit losses 1,003 Write-offs, net of recoveries (2,103 ) Balance at end of period $ 11,576 (1) Amount reflects the allowance determined under previous accounting guidance. Transition to the updated guidance did not result in an adjustment to the allowance.

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
	Mar. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Carrying Amount of Goodwill by Reportable Segment	A summary of the changes in the carrying amount of goodwill, by reportable segment, for the three months ended March 31, 2020, is as follows: (in thousands) Title Insurance and Services Specialty Insurance Total Balance at December 31, 2019 $ 1,104,143 $ 46,765 $ 1,150,908 Acquisitions 236,242 — 236,242 Dispositions (358 ) — (358 ) Foreign currency translation (5,297 ) — (5,297 ) Balance at March 31, 2020 $ 1,334,730 $ 46,765 $ 1,381,495

Other Intangible Assets (Tables

Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2020
Intangible Assets Gross Excluding Goodwill [Abstract]
Schedule of Other Intangible Assets	Other intangible assets consist of the following: (in thousands) March 31, 2020 December 31, 2019 Finite-lived intangible assets: Customer relationships $ 150,700 $ 99,905 Noncompete agreements 32,198 13,150 Trademarks 25,312 10,520 Internal-use software licenses 18,812 21,982 Patents 2,840 2,840 229,862 148,397 Accumulated amortization (62,786 ) (73,449 ) 167,076 74,948 Indefinite-lived intangible assets: Licenses 16,885 16,885 $ 183,961 $ 91,833
Estimated Amortization Expense for Finite-Lived Intangible Assets	Estimated amortization expense for finite-lived intangible assets for the next five years is as follows: Year (in thousands) Remainder of 2020 $ 28,650 2021 $ 28,394 2022 $ 27,285 2023 $ 25,461 2024 $ 20,094 2025 $ 14,352

Reserve for Known and Incurre_2

Reserve for Known and Incurred but Not Reported Claims (Tables)	3 Months Ended
	Mar. 31, 2020
Insurance Loss Reserves [Abstract]
Activity in Reserve for Known and Incurred but Not Reported Claims	Activity in the reserve for known and incurred but not reported claims is summarized as follows: Three Months Ended (in thousands) 2020 2019 Balance at beginning of period $ 1,063,044 $ 1,042,679 Provision related to: Current year 103,213 88,603 Prior years 14,264 9,109 117,477 97,712 Payments, net of recoveries, related to: Current year 32,685 30,446 Prior years 75,853 69,546 108,538 99,992 Other (14,445 ) (6,765 ) Balance at end of period $ 1,057,538 $ 1,033,634 A summary of the Company’s loss reserves is as follows: (in thousands, except percentages) March 31, 2020 December 31, 2019 Known title claims $ 73,829 7.0 % $ 83,382 7.8 % Incurred but not reported claims 915,192 86.5 % 903,994 85.1 % Total title claims 989,021 93.5 % 987,376 92.9 % Non-title claims 68,517 6.5 % 75,668 7.1 % Total loss reserves $ 1,057,538 100.0 % $ 1,063,044 100.0 %

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	The computation of basic and diluted earnings per share is as follows: Three Months Ended (in thousands, except per share amounts) 2020 2019 Numerator Net income attributable to the Company $ 63,204 $ 109,575 Denominator Basic weighted-average shares 113,556 112,703 Effect of dilutive employee stock options and 403 521 Diluted weighted-average shares 113,959 113,224 Net income per share attributable to the Company’s stockholders Basic $ 0.56 $ 0.97 Diluted $ 0.55 $ 0.97

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	3 Months Ended
	Mar. 31, 2020
Compensation And Retirement Disclosure [Abstract]
Net Periodic Cost	Net periodic cost related to the Company’s unfunded supplemental benefit plans includes the following components: Three Months Ended (in thousands) 2020 2019 Expense: Service costs $ 45 $ 70 Interest costs 1,781 2,279 Amortization of net actuarial loss 1,320 915 Amortization of prior service credit (777 ) (1,018 ) $ 2,369 $ 2,246

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value of Assets Measured on Recurring Basis	The following tables present the fair values of the Company’s assets, measured on a recurring basis, as of March 31, 2020 and December 31, 2019: (in thousands) Total Level 1 Level 2 Level 3 March 31, 2020 Debt securities: U.S. Treasury bonds $ 122,708 $ — $ 122,708 $ — Municipal bonds 1,048,942 — 1,048,942 — Foreign government bonds 158,298 — 158,298 — Governmental agency bonds 299,095 — 299,095 — Governmental agency mortgage-backed securities 3,348,376 — 3,348,376 — U.S. corporate debt securities 539,281 — 539,281 — Foreign corporate debt securities 322,830 — 322,830 — 5,839,530 — 5,839,530 — Equity securities: Preferred stocks 13,308 13,308 — — Common stocks 363,988 363,988 — — 377,296 377,296 — — Total assets $ 6,216,826 $ 377,296 $ 5,839,530 $ — (in thousands) Total Level 1 Level 2 Level 3 December 31, 2019 Debt securities: U.S. Treasury bonds $ 143,941 $ — $ 143,941 $ — Municipal bonds 1,090,839 — 1,090,839 — Foreign government bonds 180,090 — 180,090 — Governmental agency bonds 321,919 — 321,919 — Governmental agency mortgage-backed securities 3,278,258 — 3,278,258 — U.S. corporate debt securities 553,372 — 553,372 — Foreign corporate debt securities 345,217 — 345,217 — 5,913,636 — 5,913,636 — Equity securities: Preferred stocks 18,094 18,094 — — Common stocks 374,224 374,224 — — 392,318 392,318 — — Total assets $ 6,305,954 $ 392,318 $ 5,913,636 $ —
Carrying Amounts and Estimated Fair Values of Financial Instruments Not Measured at Fair Value	The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments not measured at fair value as of March 31, 2020 and December 31, 2019: Carrying Estimated fair value (in thousands) Amount Total Level 1 Level 2 Level 3 March 31, 2020 Assets: Cash and cash equivalents $ 1,049,985 $ 1,049,985 $ 1,049,985 $ — $ — Deposits with banks $ 39,425 $ 39,461 $ 2,030 $ 37,431 $ — Notes receivable, net $ 18,694 $ 17,212 $ — $ — $ 17,212 Secured financings receivable $ 480,160 $ 480,160 $ — $ 480,160 $ — Liabilities: Secured financings payable $ 441,657 $ 441,657 $ — $ 441,657 $ — Notes and contracts payable $ 847,159 $ 900,755 $ — $ 896,153 $ 4,602 Carrying Estimated fair value (in thousands) Amount Total Level 1 Level 2 Level 3 December 31, 2019 Assets: Cash and cash equivalents $ 1,485,959 $ 1,485,959 $ 1,485,959 $ — $ — Deposits with banks $ 44,422 $ 44,339 $ 4,074 $ 40,265 $ — Notes receivable, net $ 18,970 $ 19,422 $ — $ — $ 19,422 Secured financings receivable $ 287,459 $ 287,459 $ — $ 287,459 $ — Liabilities: Secured financings payable $ 278,412 $ 278,412 $ — $ 278,412 $ — Notes and contracts payable $ 728,232 $ 761,224 $ — $ 756,306 $ 4,918

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Costs Associated with Share-Based Compensation Plans	The following table presents costs associated with the Company’s share-based compensation plans: Three Months Ended (in thousands) 2020 2019 Expense: RSUs $ 24,658 $ 18,348 Employee stock purchase plan 1,245 1,249 $ 25,903 $ 19,597
Summary of RSU Activity	The following table summarizes RSU activity for the three months ended March 31, 2020: (in thousands, except weighted-average grant-date fair value) Shares Weighted-average grant-date fair value Unvested at December 31, 2019 1,152 $ 49.25 Granted during 2020 717 $ 64.68 Vested during 2020 (788 ) $ 52.68 Forfeited during 2020 (3 ) $ 55.12 Unvested at March 31, 2020 1,078 $ 56.99

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) ("AOCI") (Tables)	3 Months Ended
	Mar. 31, 2020
Accumulated Other Comprehensive Income Other Comprehensive Income [Abstract]
Components of Accumulated Other Comprehensive Income (Loss)	The following table presents a summary of the changes in each component of AOCI for the three months ended March 31, 2020: First American Financial Corporation NCI (in thousands) Unrealized Foreign Pension Accumulated Accumulated Balance Balance at December 31, 2019 $ 83,117 $ (51,668 ) $ (72,941 ) $ (41,492 ) $ 1 $ (41,491 ) Change in unrealized gains (losses) on debt securities 18,096 — — 18,096 — 18,096 Change in unrealized gains (losses) on debt securities for which credit-related portion was recognized in earnings 122 — — 122 — 122 Change in foreign currency translation adjustment — (34,688 ) — (34,688 ) — (34,688 ) Amortization of net actuarial loss — — 1,320 1,320 — 1,320 Amortization of prior service credit — — (777 ) (777 ) — (777 ) Tax effect (5,514 ) 1,132 (144 ) (4,526 ) — (4,526 ) Balance at March 31, 2020 $ 95,821 $ (85,224 ) $ (72,542 ) $ (61,945 ) $ 1 $ (61,944 )
Adjustments for Reclassification of Other Comprehensive Income (Loss)	The following table presents the other comprehensive income (loss) reclassification adjustments for the three months ended March 31, 2020 and 2019: (in thousands) Unrealized gains (losses) on debt securities Foreign currency translation adjustment Pension benefit adjustment Total other comprehensive income (loss) Three Months Ended March 31, 2020 Pretax change before reclassifications $ 15,396 $ (34,688 ) $ — $ (19,292 ) Reclassifications out of AOCI 2,822 — 543 3,365 Tax effect (5,514 ) 1,132 (144 ) (4,526 ) Total other comprehensive income (loss), net of tax $ 12,704 $ (33,556 ) $ 399 $ (20,453 ) Three Months Ended March 31, 2019 Pretax change before reclassifications $ 77,765 $ 7,166 $ — $ 84,931 Reclassifications out of AOCI 41 — (103 ) (62 ) Tax effect (18,301 ) (278 ) 27 (18,552 ) Total other comprehensive income (loss), net of tax $ 59,505 $ 6,888 $ (76 ) $ 66,317
Reclassifications out of Accumulated Other Comprehensive Income (Loss)	The following table presents the effects of the reclassifications out of AOCI on the respective line items in the condensed consolidated statements of income: (in thousands) Amounts reclassified from AOCI Affected line items in the condensed Three Months Ended March 31, 2020 2019 Unrealized gains (losses) on debt securities: Net realized gains (losses) on sales of $ 4,671 $ (41 ) Net realized investment (losses) gains Credit losses recognized on debt securities (7,493 ) — Net realized investment (losses) gains Pretax total $ (2,822 ) $ (41 ) Tax effect $ 854 $ 10 Pension benefit adjustment (1): Amortization of net actuarial loss $ (1,320 ) $ (915 ) Other operating expenses Amortization of prior service credit 777 1,018 Other operating expenses Pretax total $ (543 ) $ 103 Tax effect $ 224 $ (27 ) (1) These components of AOCI are components of net periodic cost. See Note 10 Employee Benefit Plans for additional details.

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Schedule of Selected Financial Information	Selected financial information about the Company’s operations, by segment, is as follows: For the three months ended March 31, 2020: (in thousands) Revenues Income (loss) before income taxes Depreciation and amortization Capital expenditures Title Insurance and Services $ 1,300,625 $ 72,976 $ 29,517 $ 28,423 Specialty Insurance 121,969 12,857 1,894 2,801 Corporate (9,311 ) (13,509 ) 38 — Eliminations (340 ) — — — $ 1,412,943 $ 72,324 $ 31,449 $ 31,224 (in thousands) Direct premiums and escrow fees Agent premiums Information and other Net investment income Net realized investment gains (losses) Total Revenues Title Insurance and Services $ 501,301 $ 599,682 $ 208,273 $ 59,668 $ (68,299 ) $ 1,300,625 Specialty Insurance 119,336 — 3,439 2,584 (3,390 ) 121,969 $ 620,637 $ 599,682 $ 211,712 $ 62,252 $ (71,689 ) $ 1,422,594 For the three months ended March 31, 2019: (in thousands) Revenues Income (loss) before income taxes Depreciation and amortization Capital expenditures Title Insurance and Services $ 1,172,180 $ 142,007 $ 31,162 $ 25,479 Specialty Insurance 122,182 17,785 1,734 2,497 Corporate 9,559 (18,122 ) 38 — Eliminations (340 ) — — — $ 1,303,581 $ 141,670 $ 32,934 $ 27,976 (in thousands) Direct premiums and escrow fees Agent premiums Information and other Net investment income Net realized investment gains (losses) Total Revenues Title Insurance and Services $ 402,756 $ 501,537 $ 170,089 $ 70,053 $ 27,745 $ 1,172,180 Specialty Insurance 111,446 — 3,067 2,732 4,937 122,182 $ 514,202 $ 501,537 $ 173,156 $ 72,785 $ 32,682 $ 1,294,362

Escrow Deposits, Like-Kind Ex_2

Escrow Deposits, Like-Kind Exchange Deposits and Trust Assets (Narrative) (Detail) - USD ($) $ in Billions	Mar. 31, 2020	Dec. 31, 2019
Other Assets [Line Items]
Escrow deposits	$ 7.7	$ 7.3
Like-kind exchange funds	2.9	3
First American Trust
Other Assets [Line Items]
Escrow deposits	3.3	3.2
Assets held-in-trust	$ 4	$ 4.2

Debt and Equity Securities (Inv

Debt and Equity Securities (Investments in Debt Securities, Classified as Available-For-Sale) (Detail) - USD ($) $ in Thousands		Mar. 31, 2020	Dec. 31, 2019
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost		$ 5,711,924	$ 5,796,755
Debt Securities, Allowance for credit losses	[1]	(7,493)	0
Debt Securities, Gross unrealized gains		168,459	127,123
Debt Securities, Gross unrealized losses		(33,360)	(10,242)
Debt securities, Estimated fair value		5,839,530	5,913,636
U.S. Treasury bonds
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost		120,676	143,825
Debt Securities, Allowance for credit losses	[1]	0	0
Debt Securities, Gross unrealized gains		2,032	469
Debt Securities, Gross unrealized losses		0	(353)
Debt securities, Estimated fair value		122,708	143,941
Municipal bonds
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost		1,008,935	1,043,252
Debt Securities, Allowance for credit losses	[1]	0	0
Debt Securities, Gross unrealized gains		41,978	47,804
Debt Securities, Gross unrealized losses		(1,971)	(217)
Debt securities, Estimated fair value		1,048,942	1,090,839
Foreign government bonds
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost		154,968	179,554
Debt Securities, Allowance for credit losses	[1]	(399)	0
Debt Securities, Gross unrealized gains		4,254	1,497
Debt Securities, Gross unrealized losses		(525)	(961)
Debt securities, Estimated fair value		158,298	180,090
Governmental agency bonds
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost		285,947	316,318
Debt Securities, Allowance for credit losses	[1]	0	0
Debt Securities, Gross unrealized gains		13,153	5,820
Debt Securities, Gross unrealized losses		(5)	(219)
Debt securities, Estimated fair value		299,095	321,919
Governmental agency mortgage-backed securities
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost		3,264,553	3,241,966
Debt Securities, Allowance for credit losses	[1]	0	0
Debt Securities, Gross unrealized gains		91,671	43,599
Debt Securities, Gross unrealized losses		(7,848)	(7,307)
Debt securities, Estimated fair value		3,348,376	3,278,258
U.S. corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost		547,250	535,878
Debt Securities, Allowance for credit losses	[1]	(5,886)	0
Debt Securities, Gross unrealized gains		12,250	18,466
Debt Securities, Gross unrealized losses		(14,333)	(972)
Debt securities, Estimated fair value		539,281	553,372
Foreign corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost		329,595	335,962
Debt Securities, Allowance for credit losses	[1]	(1,208)	0
Debt Securities, Gross unrealized gains		3,121	9,468
Debt Securities, Gross unrealized losses		(8,678)	(213)
Debt securities, Estimated fair value		$ 322,830	$ 345,217
[1]	Represents the amount of impairment resulting from credit-related factors and is included in net realized investment gains/losses in the condensed consolidated statements of income for the three months ended March 31, 2020.

Debt and Equity Securities (Nar

Debt and Equity Securities (Narrative) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Schedule Of Debt and Equity Securities [Line Items]
Realized gains on sales of debt securities	$ 6,200	$ 3,100
Realized losses on sales of debt securities	1,300	3,000
Proceeds from sale of debt securities	209,400	391,400
Accrued interest receivable	27,200
Realized and unrealized net gains (losses) on equity securities	(82,500)	32,500
Net unrealized gains (losses) on equity securities	(82,400)	$ 29,000
Debt securities, Estimated fair value	5,839,530		$ 5,913,636
Estimated fair value of debt securities, Unrealized loss position	1,454,543		$ 1,663,146
Bank Loans
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	67,700
Estimated fair value of debt securities, Unrealized loss position	60,900
Emerging Market Securities
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	62,100
Estimated fair value of debt securities, Unrealized loss position	35,900
Non-Investment Grade
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	100,072
Estimated fair value of debt securities, Unrealized loss position	79,063
Non-Investment Grade | Bank Loans
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	61,400
Estimated fair value of debt securities, Unrealized loss position	54,700
Non-Investment Grade | High Yield Corporate Debt Securities
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	30,600
Estimated fair value of debt securities, Unrealized loss position	20,100
Non-Investment Grade | Emerging Market Securities
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	6,700
Estimated fair value of debt securities, Unrealized loss position	$ 4,300

Debt and Equity Securities (Gro

Debt and Equity Securities (Gross Unrealized Losses on Investments in Debt Securities) (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value, Less than 12 months	$ 971,339	$ 971,604
Unrealized losses, Less than 12 months	(28,307)	(4,977)
Estimated fair value, 12 months or longer	483,204	691,542
Unrealized losses, 12 months or longer	(5,053)	(5,265)
Estimated fair value, Total	1,454,543	1,663,146
Unrealized losses, Total	(33,360)	(10,242)
Municipal bonds
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value, Less than 12 months	64,810	29,333
Unrealized losses, Less than 12 months	(1,965)	(207)
Estimated fair value, 12 months or longer	790	2,827
Unrealized losses, 12 months or longer	(6)	(10)
Estimated fair value, Total	65,600	32,160
Unrealized losses, Total	(1,971)	(217)
Foreign government bonds
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value, Less than 12 months	32,427	112,167
Unrealized losses, Less than 12 months	(525)	(934)
Estimated fair value, 12 months or longer	0	11,001
Unrealized losses, 12 months or longer	0	(27)
Estimated fair value, Total	32,427	123,168
Unrealized losses, Total	(525)	(961)
Governmental agency bonds
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value, Less than 12 months	1,540	24,493
Unrealized losses, Less than 12 months	(5)	(142)
Estimated fair value, 12 months or longer	0	14,923
Unrealized losses, 12 months or longer	0	(77)
Estimated fair value, Total	1,540	39,416
Unrealized losses, Total	(5)	(219)
Governmental agency mortgage-backed securities
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value, Less than 12 months	451,608	719,602
Unrealized losses, Less than 12 months	(3,315)	(2,785)
Estimated fair value, 12 months or longer	478,847	637,009
Unrealized losses, 12 months or longer	(4,533)	(4,522)
Estimated fair value, Total	930,455	1,356,611
Unrealized losses, Total	(7,848)	(7,307)
U.S. corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value, Less than 12 months	225,547	42,607
Unrealized losses, Less than 12 months	(13,868)	(451)
Estimated fair value, 12 months or longer	2,869	10,216
Unrealized losses, 12 months or longer	(465)	(521)
Estimated fair value, Total	228,416	52,823
Unrealized losses, Total	(14,333)	(972)
Foreign corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value, Less than 12 months	195,407	30,895
Unrealized losses, Less than 12 months	(8,629)	(108)
Estimated fair value, 12 months or longer	698	12,373
Unrealized losses, 12 months or longer	(49)	(105)
Estimated fair value, Total	196,105	43,268
Unrealized losses, Total	$ (8,678)	(213)
U.S. Treasury bonds
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value, Less than 12 months		12,507
Unrealized losses, Less than 12 months		(350)
Estimated fair value, 12 months or longer		3,193
Unrealized losses, 12 months or longer		(3)
Estimated fair value, Total		15,700
Unrealized losses, Total		$ (353)

Debt and Equity Securities (Rol

Debt and Equity Securities (Rollforward of Allowance for Credit Losses for Investments in Debt Securities ) (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Investments Debt And Equity Securities [Abstract]
Balance at beginning of period	$ 0	[1]
Credit losses recognized during the period	(7,493)
Balance at end of period	$ (7,493)	[1]
[1]	Represents the amount of impairment resulting from credit-related factors and is included in net realized investment gains/losses in the condensed consolidated statements of income for the three months ended March 31, 2020.

Debt and Equity Securities (I_2

Debt and Equity Securities (Investments in Debt Securities by Contractual Maturity) (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost	$ 5,711,924	$ 5,796,755
Debt securities, Estimated fair value	5,839,530	5,913,636
U.S. Treasury bonds
Schedule Of Available For Sale Securities [Line Items]
Amortized cost, Due in one year or less	65,958
Amortized cost, Due after one through five years	51,199
Amortized cost, Due after five through ten years	1,025
Amortized cost, Due after ten years	2,494
Debt Securities, Amortized cost	120,676	143,825
Estimated fair value, Due in one year or less	66,287
Estimated fair value, Due after one through five years	52,545
Estimated fair value, Due after five through ten years	1,152
Estimated fair value, Due after ten years	2,724
Debt securities, Estimated fair value	122,708	143,941
Municipal bonds
Schedule Of Available For Sale Securities [Line Items]
Amortized cost, Due in one year or less	62,536
Amortized cost, Due after one through five years	130,688
Amortized cost, Due after five through ten years	332,696
Amortized cost, Due after ten years	483,015
Debt Securities, Amortized cost	1,008,935	1,043,252
Estimated fair value, Due in one year or less	62,788
Estimated fair value, Due after one through five years	132,402
Estimated fair value, Due after five through ten years	347,166
Estimated fair value, Due after ten years	506,586
Debt securities, Estimated fair value	1,048,942	1,090,839
Foreign government bonds
Schedule Of Available For Sale Securities [Line Items]
Amortized cost, Due in one year or less	22,647
Amortized cost, Due after one through five years	61,278
Amortized cost, Due after five through ten years	57,108
Amortized cost, Due after ten years	13,935
Debt Securities, Amortized cost	154,968	179,554
Estimated fair value, Due in one year or less	22,652
Estimated fair value, Due after one through five years	62,676
Estimated fair value, Due after five through ten years	59,523
Estimated fair value, Due after ten years	13,447
Debt securities, Estimated fair value	158,298	180,090
Governmental agency bonds
Schedule Of Available For Sale Securities [Line Items]
Amortized cost, Due in one year or less	7,673
Amortized cost, Due after one through five years	84,475
Amortized cost, Due after five through ten years	132,414
Amortized cost, Due after ten years	61,385
Debt Securities, Amortized cost	285,947	316,318
Estimated fair value, Due in one year or less	7,733
Estimated fair value, Due after one through five years	87,291
Estimated fair value, Due after five through ten years	137,197
Estimated fair value, Due after ten years	66,874
Debt securities, Estimated fair value	299,095	321,919
U.S. corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Amortized cost, Due in one year or less	23,210
Amortized cost, Due after one through five years	303,513
Amortized cost, Due after five through ten years	173,846
Amortized cost, Due after ten years	46,681
Debt Securities, Amortized cost	547,250	535,878
Estimated fair value, Due in one year or less	23,192
Estimated fair value, Due after one through five years	301,707
Estimated fair value, Due after five through ten years	167,908
Estimated fair value, Due after ten years	46,474
Debt securities, Estimated fair value	539,281	553,372
Foreign corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Amortized cost, Due in one year or less	23,461
Amortized cost, Due after one through five years	202,346
Amortized cost, Due after five through ten years	75,858
Amortized cost, Due after ten years	27,930
Debt Securities, Amortized cost	329,595	335,962
Estimated fair value, Due in one year or less	23,428
Estimated fair value, Due after one through five years	199,226
Estimated fair value, Due after five through ten years	73,886
Estimated fair value, Due after ten years	26,290
Debt securities, Estimated fair value	322,830	$ 345,217
Debt Securities Excluding Mortgage Backed Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized cost, Due in one year or less	205,485
Amortized cost, Due after one through five years	833,499
Amortized cost, Due after five through ten years	772,947
Amortized cost, Due after ten years	635,440
Debt Securities, Amortized cost	2,447,371
Estimated fair value, Due in one year or less	206,080
Estimated fair value, Due after one through five years	835,847
Estimated fair value, Due after five through ten years	786,832
Estimated fair value, Due after ten years	662,395
Debt securities, Estimated fair value	2,491,154
Total Mortgage-Backed Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized cost	3,264,553
Estimated fair value	$ 3,348,376

Debt and Equity Securities (I_3

Debt and Equity Securities (Investments in Equity Securities) (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Debt And Equity Securities F V N I [Line Items]
Equity securities, Cost	$ 416,919	$ 349,959
Equity securities, Estimated fair value	377,296	392,318
Preferred stocks
Debt And Equity Securities F V N I [Line Items]
Equity securities, Cost	20,284	21,849
Equity securities, Estimated fair value	13,308	18,094
Common stocks
Debt And Equity Securities F V N I [Line Items]
Equity securities, Cost	396,635	328,110
Equity securities, Estimated fair value	$ 363,988	$ 374,224

Debt and Equity Securities (Com

Debt and Equity Securities (Composition of Investment Portfolio by Credit Rating Agencies) (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 5,839,530	$ 5,913,636
Equity securities, Estimated fair value	377,296	392,318
Estimated fair value, Total	$ 5,852,838
Percentage of debt securities by credit rating agencies	100.00%
Percentage of investment portfolio by credit rating agencies	100.00%
U.S. Treasury bonds
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 122,708	143,941
Percentage of debt securities by credit rating agencies	100.00%
Municipal bonds
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 1,048,942	1,090,839
Percentage of debt securities by credit rating agencies	100.00%
Foreign government bonds
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 158,298	180,090
Percentage of debt securities by credit rating agencies	100.00%
Governmental agency bonds
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 299,095	321,919
Percentage of debt securities by credit rating agencies	100.00%
Governmental agency mortgage-backed securities
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 3,348,376	3,278,258
Percentage of debt securities by credit rating agencies	100.00%
U.S. corporate debt securities
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 539,281	553,372
Percentage of debt securities by credit rating agencies	100.00%
Foreign corporate debt securities
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 322,830	345,217
Percentage of debt securities by credit rating agencies	100.00%
Preferred stocks
Schedule Of Debt and Equity Securities [Line Items]
Equity securities, Estimated fair value	$ 13,308	$ 18,094
Percentage of equity securities by credit rating agencies	100.00%
Investment Grade | A- or Higher
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 5,298,420
Estimated fair value, Total	$ 5,298,448
Percentage of debt securities by credit rating agencies	90.70%
Percentage of investment portfolio by credit rating agencies	90.50%
Investment Grade | BBB+ to BBB-
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 441,038
Estimated fair value, Total	$ 453,627
Percentage of debt securities by credit rating agencies	7.60%
Percentage of investment portfolio by credit rating agencies	7.80%
Investment Grade | U.S. Treasury bonds | A- or Higher
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 122,708
Percentage of debt securities by credit rating agencies	100.00%
Investment Grade | Municipal bonds | A- or Higher
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 1,003,827
Percentage of debt securities by credit rating agencies	95.70%
Investment Grade | Municipal bonds | BBB+ to BBB-
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 43,777
Percentage of debt securities by credit rating agencies	4.20%
Investment Grade | Foreign government bonds | A- or Higher
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 144,010
Percentage of debt securities by credit rating agencies	91.00%
Investment Grade | Foreign government bonds | BBB+ to BBB-
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 11,761
Percentage of debt securities by credit rating agencies	7.40%
Investment Grade | Governmental agency bonds | A- or Higher
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 299,095
Percentage of debt securities by credit rating agencies	100.00%
Investment Grade | Governmental agency mortgage-backed securities | A- or Higher
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 3,348,376
Percentage of debt securities by credit rating agencies	100.00%
Investment Grade | U.S. corporate debt securities | A- or Higher
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 250,839
Percentage of debt securities by credit rating agencies	46.50%
Investment Grade | U.S. corporate debt securities | BBB+ to BBB-
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 218,235
Percentage of debt securities by credit rating agencies	40.50%
Investment Grade | Foreign corporate debt securities | A- or Higher
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 129,565
Percentage of debt securities by credit rating agencies	40.10%
Investment Grade | Foreign corporate debt securities | BBB+ to BBB-
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 167,265
Percentage of debt securities by credit rating agencies	51.80%
Investment Grade | Preferred stocks | A- or Higher
Schedule Of Debt and Equity Securities [Line Items]
Equity securities, Estimated fair value	$ 28
Percentage of equity securities by credit rating agencies	0.20%
Investment Grade | Preferred stocks | BBB+ to BBB-
Schedule Of Debt and Equity Securities [Line Items]
Equity securities, Estimated fair value	$ 12,589
Percentage of equity securities by credit rating agencies	94.60%
Non-Investment Grade
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 100,072
Estimated fair value, Total	$ 100,763
Percentage of debt securities by credit rating agencies	1.70%
Percentage of investment portfolio by credit rating agencies	1.70%
Non-Investment Grade | Municipal bonds
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 1,338
Percentage of debt securities by credit rating agencies	0.10%
Non-Investment Grade | Foreign government bonds
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 2,527
Percentage of debt securities by credit rating agencies	1.60%
Non-Investment Grade | U.S. corporate debt securities
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 70,207
Percentage of debt securities by credit rating agencies	13.00%
Non-Investment Grade | Foreign corporate debt securities
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 26,000
Percentage of debt securities by credit rating agencies	8.10%
Non-Investment Grade | Preferred stocks
Schedule Of Debt and Equity Securities [Line Items]
Equity securities, Estimated fair value	$ 691
Percentage of equity securities by credit rating agencies	5.20%

Debt and Equity Securities (C_2

Debt and Equity Securities (Composition of Debt Securities Portfolio in Unrealized Loss Position by Credit Rating Agencies) (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 1,454,543	$ 1,663,146
Percentage of debt securities in unrealized loss position	100.00%
Municipal bonds
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 65,600	32,160
Percentage of debt securities in unrealized loss position	100.00%
Foreign government bonds
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 32,427	123,168
Percentage of debt securities in unrealized loss position	100.00%
Governmental agency bonds
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 1,540	39,416
Percentage of debt securities in unrealized loss position	100.00%
Governmental agency mortgage-backed securities
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 930,455	1,356,611
Percentage of debt securities in unrealized loss position	100.00%
U.S. corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 228,416	52,823
Percentage of debt securities in unrealized loss position	100.00%
Foreign corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 196,105	$ 43,268
Percentage of debt securities in unrealized loss position	100.00%
Investment Grade | A- or Higher
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 1,139,302
Percentage of debt securities in unrealized loss position	78.40%
Investment Grade | BBB+ to BBB-
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 236,188
Percentage of debt securities in unrealized loss position	16.20%
Investment Grade | Municipal bonds | A- or Higher
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 46,321
Percentage of debt securities in unrealized loss position	70.60%
Investment Grade | Municipal bonds | BBB+ to BBB-
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 19,279
Percentage of debt securities in unrealized loss position	29.40%
Investment Grade | Foreign government bonds | A- or Higher
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 24,960
Percentage of debt securities in unrealized loss position	77.00%
Investment Grade | Foreign government bonds | BBB+ to BBB-
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 6,139
Percentage of debt securities in unrealized loss position	18.90%
Investment Grade | Governmental agency bonds | A- or Higher
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 1,540
Percentage of debt securities in unrealized loss position	100.00%
Investment Grade | Governmental agency bonds | BBB+ to BBB-
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 0
Percentage of debt securities in unrealized loss position	0.00%
Investment Grade | Governmental agency mortgage-backed securities | A- or Higher
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 930,455
Percentage of debt securities in unrealized loss position	100.00%
Investment Grade | Governmental agency mortgage-backed securities | BBB+ to BBB-
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 0
Percentage of debt securities in unrealized loss position	0.00%
Investment Grade | U.S. corporate debt securities | A- or Higher
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 68,401
Percentage of debt securities in unrealized loss position	30.00%
Investment Grade | U.S. corporate debt securities | BBB+ to BBB-
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 102,437
Percentage of debt securities in unrealized loss position	44.80%
Investment Grade | Foreign corporate debt securities | A- or Higher
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 67,625
Percentage of debt securities in unrealized loss position	34.50%
Investment Grade | Foreign corporate debt securities | BBB+ to BBB-
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 108,333
Percentage of debt securities in unrealized loss position	55.20%
Non-Investment Grade
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 79,063
Percentage of debt securities in unrealized loss position	5.40%
Non-Investment Grade | Foreign government bonds
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 1,328
Percentage of debt securities in unrealized loss position	4.10%
Non-Investment Grade | Governmental agency bonds
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 0
Percentage of debt securities in unrealized loss position	0.00%
Non-Investment Grade | Governmental agency mortgage-backed securities
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 0
Percentage of debt securities in unrealized loss position	0.00%
Non-Investment Grade | U.S. corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 57,578
Percentage of debt securities in unrealized loss position	25.20%
Non-Investment Grade | Foreign corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 20,147
Percentage of debt securities in unrealized loss position	10.30%

Credit Losses - Financial Ass_3

Credit Losses - Financial Assets and Off - Balance Sheet Credit Exposures- Summary of Allowance for Credit Losses on Accounts Receivables (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Receivables [Abstract]
Balance at beginning of period	$ 12,676
Provision for expected credit losses	1,003
Write-offs, net of recoveries	(2,103)
Balance at end of period	$ 11,576

Credit Losses - Financial Ass_4

Credit Losses - Financial Assets and Off - Balance Sheet Credit Exposures - Additional Information (Details) $ in Millions	Mar. 31, 2020USD ($)
Receivables [Abstract]
Accrued interest receivable	$ 3.2

Goodwill (Carrying Amount of Go

Goodwill (Carrying Amount of Goodwill by Reportable Segment) (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Goodwill [Line Items]
Beginning balance	$ 1,150,908
Acquisitions	236,242
Dispositions	(358)
Foreign currency translation	(5,297)
Ending balance	1,381,495
Title Insurance and Services
Goodwill [Line Items]
Beginning balance	1,104,143
Acquisitions	236,242
Dispositions	(358)
Foreign currency translation	(5,297)
Ending balance	1,334,730
Specialty Insurance
Goodwill [Line Items]
Beginning balance	46,765
Acquisitions	0
Dispositions	0
Foreign currency translation	0
Ending balance	$ 46,765

Goodwill (Narrative) (Detail)

Goodwill (Narrative) (Detail)	3 Months Ended
	Mar. 31, 2020ReportingUnit
Goodwill And Intangible Assets Disclosure [Abstract]
Number of reporting units	4

Other Intangible Assets (Schedu

Other Intangible Assets (Schedule of Other Intangible Assets) (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Intangible Assets Net Excluding Goodwill [Abstract]
Customer relationships	$ 150,700	$ 99,905
Noncompete agreements	32,198	13,150
Trademarks	25,312	10,520
Internal-use software licenses	18,812	21,982
Patents	2,840	2,840
Finite-lived intangible assets, gross	229,862	148,397
Accumulated amortization	(62,786)	(73,449)
Finite-lived intangible assets, net	167,076	74,948
Licenses	16,885	16,885
Other intangibles assets, net	$ 183,961	$ 91,833

Other Intangible Assets (Narrat

Other Intangible Assets (Narrative) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Intangible Assets Net Excluding Goodwill [Abstract]
Amortization expense	$ 6.3	$ 8

Other Intangible Assets (Estima

Other Intangible Assets (Estimated Amortization Expense for Finite-Lived Intangible Assets) (Detail) $ in Thousands	Mar. 31, 2020USD ($)
Intangible Assets Net Excluding Goodwill [Abstract]
Remainder of 2020	$ 28,650
2021	28,394
2022	27,285
2023	25,461
2024	20,094
2025	$ 14,352

Reserve for Known and Incurre_3

Reserve for Known and Incurred but Not Reported Claims (Activity in Reserve for Known and Incurred but Not Reported Claims) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Balance at beginning of period	$ 1,063,044	$ 1,042,679
Provision related to current year	103,213	88,603
Provision related to prior years	14,264	9,109
Total Provision	117,477	97,712
Payments, net of recoveries, related to: Current year	32,685	30,446
Payments, net of recoveries, related to: Prior years	75,853	69,546
Total Payments, net of recoveries	108,538	99,992
Other	(14,445)	(6,765)
Balance at end of period	$ 1,057,538	$ 1,033,634

Reserve for Known and Incurre_4

Reserve for Known and Incurred but Not Reported Claims (Narrative) (Detail) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Insurance [Abstract]
Provision for title loss, percentage of title premiums and escrow fees	5.00%	4.00%
Ultimate loss rate	4.50%	4.00%	4.00%
Estimated increase in loss reserve for prior policy years	$ 5,500,000	$ 0
Decrease in Company’s incurred title claims	6.20%

Reserve for Known and Incurre_5

Reserve for Known and Incurred but Not Reported Claims (Summary of Loss Reserves) (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Insurance [Abstract]
Known title claims, amount	$ 73,829	$ 83,382
Incurred but not reported claims, amount	915,192	903,994
Total title claims, amount	989,021	987,376
Non-title claims, amount	68,517	75,668
Total loss reserves, amount	$ 1,057,538	$ 1,063,044	$ 1,033,634	$ 1,042,679
Known title claims, percent	7.00%	7.80%
Incurred but not reported claims, percent	86.50%	85.10%
Total title claims, percent	93.50%	92.90%
Non-title claims, percent	6.50%	7.10%
Total loss reserves, percent	100.00%	100.00%

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Effective income tax rates	11.70%		22.50%
Federal income tax rates	21.00%
Liability for income taxes associated with uncertain tax positions	$ 6,600	$ 1,500
Offsetting tax benefits related to uncertain tax positions	1,800	400
Other tax benefits related to interest and penalties of uncertain tax positions	$ 28	$ 26
Unrecognized tax positions increase decrease, months	It is reasonably possible that the amount of the unrecognized benefit with respect to certain of the Company’s unrecognized tax positions may increase or decrease within the next 12 months.  Any such change may be the result of ongoing audits or the expiration of federal and state statutes of limitations for the assessment of taxes.

Earnings Per Share (Schedule of

Earnings Per Share (Schedule of Earnings Per Share) (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Earnings Per Share [Abstract]
Net income attributable to the Company	$ 63,204	$ 109,575
Basic weighted-average shares	113,556	112,703
Effect of dilutive employee stock options and restricted stock units (“RSUs”)	403	521
Diluted weighted-average shares	113,959	113,224
Basic	$ 0.56	$ 0.97
Diluted	$ 0.55	$ 0.97

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Detail) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
RSUs
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from the weighted-average diluted common shares outstanding	192	301
Stock options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Dilutive securities excluded from the weighted-average diluted common shares outstanding	0

Employee Benefit Plans (Net Per

Employee Benefit Plans (Net Periodic Cost) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Defined Benefit Plan Net Periodic Benefit Cost [Abstract]
Service costs	$ 45	$ 70
Interest costs	1,781	2,279
Amortization of net actuarial loss	1,320	915
Amortization of prior service credit	(777)	(1,018)
Net periodic costs	$ 2,369	$ 2,246

Employee Benefit Plans (Narrati

Employee Benefit Plans (Narrative) (Detail) - Unfunded Supplemental Benefit Plans $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)
Defined Benefit Plan Disclosure [Line Items]
Contribution for pension obligation	$ 3.5
Cash contribution to plans during the remainder	$ 11.9

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value of Assets Measured on Recurring Basis) (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	$ 5,839,530	$ 5,913,636
Equity securities, estimated fair value	377,296	392,318
Debt and Equity securities, estimated fair value	6,216,826	6,305,954
Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Equity securities, estimated fair value	377,296	392,318
Debt and Equity securities, estimated fair value	377,296	392,318
Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	5,839,530	5,913,636
Equity securities, estimated fair value	0	0
Debt and Equity securities, estimated fair value	5,839,530	5,913,636
Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Equity securities, estimated fair value	0	0
Debt and Equity securities, estimated fair value	0	0
U.S. Treasury bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	122,708	143,941
U.S. Treasury bonds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
U.S. Treasury bonds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	122,708	143,941
U.S. Treasury bonds | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	1,048,942	1,090,839
Municipal bonds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Municipal bonds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	1,048,942	1,090,839
Municipal bonds | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Foreign government bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	158,298	180,090
Foreign government bonds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Foreign government bonds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	158,298	180,090
Foreign government bonds | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Governmental agency bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	299,095	321,919
Governmental agency bonds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Governmental agency bonds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	299,095	321,919
Governmental agency bonds | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Governmental agency mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	3,348,376	3,278,258
Governmental agency mortgage-backed securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Governmental agency mortgage-backed securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	3,348,376	3,278,258
Governmental agency mortgage-backed securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
U.S. corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	539,281	553,372
U.S. corporate debt securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
U.S. corporate debt securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	539,281	553,372
U.S. corporate debt securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Foreign corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	322,830	345,217
Foreign corporate debt securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Foreign corporate debt securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	322,830	345,217
Foreign corporate debt securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Preferred stocks
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Equity securities, estimated fair value	13,308	18,094
Preferred stocks | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Equity securities, estimated fair value	13,308	18,094
Preferred stocks | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Equity securities, estimated fair value	0	0
Preferred stocks | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Equity securities, estimated fair value	0	0
Common Stock
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Equity securities, estimated fair value	363,988	374,224
Common Stock | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Equity securities, estimated fair value	363,988	374,224
Common Stock | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Equity securities, estimated fair value	0	0
Common Stock | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Equity securities, estimated fair value	$ 0	$ 0

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Detail) - USD ($)	Mar. 31, 2020	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Fair value assets, Level 1 to Level 2 transfers amount	$ 0	$ 0
Fair value assets, Level 2 to Level 1 transfers amount	0	0
Fair Value Assets Level 1 To Level 3 Transfers Amount	0	0
Fair Value Assets Level 3 To Level 1 Transfers Amount	0	0
Fair Value Assets Level 2 To Level 3 Transfers Amount	0	0
Fair Value Assets Level 3 To Level 2 Transfers Amount	$ 0	$ 0

Fair Value Measurements (Carryi

Fair Value Measurements (Carrying Amounts and Estimated Fair Values of Financial Instruments Not Measured at Fair Value) (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Carrying Amount
Assets:
Cash and cash equivalents	$ 1,049,985	$ 1,485,959
Deposits with banks	39,425	44,422
Notes receivable, net	18,694	18,970
Secured financings receivable	480,160	287,459
Liabilities:
Secured financings payable	441,657	278,412
Notes and contracts payable	847,159	728,232
Estimated Fair Value
Assets:
Cash and cash equivalents	1,049,985	1,485,959
Deposits with banks	39,461	44,339
Notes receivable, net	17,212	19,422
Secured financings receivable	480,160	287,459
Liabilities:
Secured financings payable	441,657	278,412
Notes and contracts payable	900,755	761,224
Estimated Fair Value | Level 1
Assets:
Cash and cash equivalents	1,049,985	1,485,959
Deposits with banks	2,030	4,074
Notes receivable, net	0	0
Secured financings receivable	0	0
Liabilities:
Secured financings payable	0	0
Notes and contracts payable	0	0
Estimated Fair Value | Level 2
Assets:
Cash and cash equivalents	0	0
Deposits with banks	37,431	40,265
Notes receivable, net	0	0
Secured financings receivable	480,160	287,459
Liabilities:
Secured financings payable	441,657	278,412
Notes and contracts payable	896,153	756,306
Estimated Fair Value | Level 3
Assets:
Cash and cash equivalents	0	0
Deposits with banks	0	0
Notes receivable, net	17,212	19,422
Secured financings receivable	0	0
Liabilities:
Secured financings payable	0	0
Notes and contracts payable	$ 4,602	$ 4,918

Share-Based Compensation (Costs

Share-Based Compensation (Costs Associated with Share-Based Compensation Plans) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation	$ 25,903	$ 19,597
RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation	24,658	18,348
Employee stock purchase plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation	$ 1,245	$ 1,249

Share-Based Compensation (Summa

Share-Based Compensation (Summary of RSU Activity) (Detail) - RSUs shares in Thousands	3 Months Ended
	Mar. 31, 2020$ / sharesshares
RSU, Shares
Unvested at December 31, 2019 | shares	1,152
Granted during 2020 | shares	717
Vested during 2020 | shares	(788)
Forfeited during 2020 | shares	(3)
Unvested at March 31, 2020 | shares	1,078
RSU, Weighted-average grant-date fair value
Unvested at December 31, 2019 | $ / shares	$ 49.25
Granted during 2020 | $ / shares	64.68
Vested during 2020 | $ / shares	52.68
Forfeited during 2020 | $ / shares	55.12
Unvested at March 31, 2020 | $ / shares	$ 56.99

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Detail) shares in Millions, $ in Millions	3 Months Ended	109 Months Ended
	Mar. 31, 2020USD ($)shares	Mar. 31, 2020USD ($)shares
Remaining authorized amount under stock repurchase program	$ 95.8	$ 95.8
Common stock repurchased, shares | shares	1.7	5.3
Purchase of Company, value	$ 65.8	$ 154.2
Maximum
Stock repurchase program, authorized amount	$ 250	$ 250

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (AOCI) (Components of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Accumulated other comprehensive income (loss), net of tax, Beginning Balance	$ (41,492)
Stockholders equity attributable to noncontrolling interest, Beginning Balance	4,518
Accumulated other comprehensive income (loss) including non-controlling interest, Beginning Balance	(41,491)
Change in unrealized gains (losses) on debt securities	18,096
Change in unrealized gains (losses) on debt securities for which credit-related portion was recognized in earnings	122
Change in foreign currency translation adjustment	(34,688)
Amortization of net actuarial loss	1,320
Amortization of prior service credit	(777)
Tax effect	(4,526)	$ (18,552)
Accumulated other comprehensive income (loss), net of tax, Ending Balance	(61,945)
Stockholders equity attributable to noncontrolling interest, Ending Balance	9,577
Accumulated other comprehensive income (loss) including non-controlling interest, Ending Balance	(61,944)
Unrealized Gains (Losses) on Debt Securities Attributable to First American Financial Corporation
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Accumulated other comprehensive income (loss), debt securities, available-for-sale, adjustment, after tax, Beginning Balance	83,117
Change in unrealized gains (losses) on debt securities	18,096
Change in unrealized gains (losses) on debt securities for which credit-related portion was recognized in earnings	122
Tax effect	(5,514)
Accumulated other comprehensive income (loss), debt securities, available-for-sale, adjustment, after tax, Ending Balance	95,821
Foreign Currency Translation Adjustment Attributable to First American Financial Corporation
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Accumulated other comprehensive income (loss), foreign currency translation adjustment, net of tax, Beginning Balance	(51,668)
Change in foreign currency translation adjustment	(34,688)
Tax effect	1,132
Accumulated other comprehensive income (loss), foreign currency translation adjustment, net of tax, Ending Balance	(85,224)
Pension Benefit Adjustment Attributable to First American Financial Corporation
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Accumulated other comprehensive (income) Loss, defined benefit plan, after Tax, Beginning Balance	(72,941)
Amortization of net actuarial loss	1,320
Amortization of prior service credit	(777)
Tax effect	(144)
Accumulated other comprehensive (income) Loss, defined benefit plan, after Tax, Ending Balance	(72,542)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Accumulated other comprehensive income (loss), net of tax, Beginning Balance	(41,492)
Change in unrealized gains (losses) on debt securities	18,096
Change in unrealized gains (losses) on debt securities for which credit-related portion was recognized in earnings	122
Change in foreign currency translation adjustment	(34,688)
Amortization of net actuarial loss	1,320
Amortization of prior service credit	(777)
Tax effect	(4,526)
Accumulated other comprehensive income (loss), net of tax, Ending Balance	(61,945)
Accumulated Other Comprehensive Income (Loss) Attributable to NCI
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Stockholders equity attributable to noncontrolling interest, Beginning Balance	1
Change in unrealized gains (losses) on debt securities	0
Change in unrealized gains (losses) on debt securities for which credit-related portion was recognized in earnings	0
Tax effect	0
Stockholders equity attributable to noncontrolling interest, Ending Balance	$ 1

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) (Other Comprehensive Income (Loss) Reclassification Adjustments) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Accumulated Other Comprehensive Income Loss [Line Items]
Pretax change before reclassifications	$ (19,292)	$ 84,931
Reclassifications out of AOCI	3,365	(62)
Tax effect	(4,526)	(18,552)
Total other comprehensive (loss) income, net of tax	(20,453)	66,317
Unrealized Gains (Losses) on Debt Securities
Accumulated Other Comprehensive Income Loss [Line Items]
Pretax change before reclassifications	15,396	77,765
Reclassifications out of AOCI	2,822	41
Tax effect	(5,514)	(18,301)
Total other comprehensive (loss) income, net of tax	12,704	59,505
Foreign Currency Translation Adjustment
Accumulated Other Comprehensive Income Loss [Line Items]
Pretax change before reclassifications	(34,688)	7,166
Reclassifications out of AOCI	0	0
Tax effect	1,132	(278)
Total other comprehensive (loss) income, net of tax	(33,556)	6,888
Pension Benefit Adjustment
Accumulated Other Comprehensive Income Loss [Line Items]
Pretax change before reclassifications	0	0
Reclassifications out of AOCI	543	(103)
Tax effect	(144)	27
Total other comprehensive (loss) income, net of tax	$ 399	$ (76)

Accumulated Other Comprehensi_5

Accumulated Other Comprehensive Income (Loss) (Reclassifications Out of AOCI) (Detail) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2020	Mar. 31, 2019
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Credit losses recognized on debt securities		$ (122)
Pretax total		(3,365)	$ 62
Amortization of net actuarial loss		1,320
Amortization of prior service credit		777
Unrealized Gains (Losses) on Debt Securities
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Net realized gains (losses) on sales of debt securities		4,671	(41)
Credit losses recognized on debt securities		(7,493)	0
Pretax total		(2,822)	(41)
Tax effect		854	10
Pension Benefit Adjustment
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Pretax total	[1]	(543)	103
Tax effect	[1]	224	(27)
Amortization of net actuarial loss	[1]	(1,320)	(915)
Amortization of prior service credit	[1]	$ 777	$ 1,018
[1]	These components of AOCI are components of net periodic cost.  See Note 10 Employee Benefit Plans for additional details

Litigation and Regulatory Con_2

Litigation and Regulatory Contingencies (Narrative) (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)
Canadian Taxing Authority
Loss Contingencies [Line Items]
Income tax authority assessment	$ 13.8

Business Combinations (Narrativ

Business Combinations (Narrative) (Detail) - USD ($) $ in Thousands	Mar. 02, 2020	Mar. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Business acquisition cost		$ 391,900
Operating cash and additional borrowings under credit facility		120,000
Goodwill		1,381,495	$ 1,150,908
eClose and Fulfillment Technology
Business Acquisition [Line Items]
Business acquisition cost	$ 350,000
Goodwill		197,900
Preliminary estimates recorded for property and equipment		50,000
Preliminary estimates recorded for other intangible assets		$ 90,000

Segment Information (Narrative)

Segment Information (Narrative) (Detail)	3 Months Ended
	Mar. 31, 2020State
Segment Reporting Information [Line Items]
Number of states issues title insurance policies	49
Number of states licensed to issues property and casualty insurance policies	50
Number of states issues property and casualty policies	46
Number of states issues home warranty contracts	36
California
Segment Reporting Information [Line Items]
Policy liability percentage	59.00%

Segment Information (Schedule o

Segment Information (Schedule of Selected Financial Information) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Segment Reporting Information [Line Items]
Revenues	$ 1,412,943	$ 1,303,581
Income (loss) before income taxes	72,324	141,670
Depreciation and amortization	31,449	32,934
Capital expenditures	31,224	27,976
Direct premiums and escrow fees	620,637	514,202
Agent premiums	599,682	501,537
Information and other	211,512	172,892
Net investment income	45,874	82,268
Net realized investment gains (losses)	(64,762)	32,682
Operating Segments
Segment Reporting Information [Line Items]
Revenues	1,422,594	1,294,362
Direct premiums and escrow fees	620,637	514,202
Agent premiums	599,682	501,537
Information and other	211,712	173,156
Net investment income	62,252	72,785
Net realized investment gains (losses)	(71,689)	32,682
Operating Segments | Title Insurance and Services
Segment Reporting Information [Line Items]
Revenues	1,300,625	1,172,180
Income (loss) before income taxes	72,976	142,007
Depreciation and amortization	29,517	31,162
Capital expenditures	28,423	25,479
Direct premiums and escrow fees	501,301	402,756
Agent premiums	599,682	501,537
Information and other	208,273	170,089
Net investment income	59,668	70,053
Net realized investment gains (losses)	(68,299)	27,745
Operating Segments | Specialty Insurance
Segment Reporting Information [Line Items]
Revenues	121,969	122,182
Income (loss) before income taxes	12,857	17,785
Depreciation and amortization	1,894	1,734
Capital expenditures	2,801	2,497
Direct premiums and escrow fees	119,336	111,446
Agent premiums	0	0
Information and other	3,439	3,067
Net investment income	2,584	2,732
Net realized investment gains (losses)	(3,390)	4,937
Corporate
Segment Reporting Information [Line Items]
Revenues	(9,311)	9,559
Income (loss) before income taxes	(13,509)	(18,122)
Depreciation and amortization	38	38
Capital expenditures	0	0
Eliminations
Segment Reporting Information [Line Items]
Revenues	(340)	(340)
Income (loss) before income taxes	0	0
Depreciation and amortization	0	0
Capital expenditures	$ 0	$ 0

Coronavirus Pandemic (Narrative

Coronavirus Pandemic (Narrative) (Detail) - COVID-19 Pandemic - Subsequent Event	1 Months Ended
	Apr. 21, 2020
Unusual Risk Or Uncertainty [Line Items]
Coronavirus pandemic description	For the first three weeks in April 2020, open purchase orders are down 43.4% compared to the same three weeks of 2019.  In addition, revenue from the Company’s commercial business, for the first three weeks in April 2020, has declined 44.1% compared to the same three weeks of 2019.
Open purchase order percentage are down compared to 2019	43.40%
Revenue percentage are declined compared to 2019	44.10%