First American Financial (FAF) 10-Q 23 Jul 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Jul. 20, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
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		111,519,078
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	Jun. 30, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents	$ 1,523,344	$ 1,485,959
Accounts and accrued income receivable, less allowances of $12,172 and $12,676	354,674	324,385
Income taxes receivable	6,773	10,967
Investments:
Deposits with banks	39,311	44,422
Debt securities, includes pledged securities of $93,904 and $91,636 (amortized cost of $5,714,833 and $5,796,755; allowance for credit losses of $1,380 at June 30, 2020)	5,925,068	5,913,636
Equity securities	386,356	392,318
Other investments	301,448	239,067
Investments, Total	6,652,183	6,589,443
Secured financings receivable	579,596	287,459
Property and equipment, net	459,563	442,014
Operating lease assets	281,444	291,385
Title plants and other indexes	580,014	579,674
Deferred income taxes	18,283	18,283
Goodwill	1,388,586	1,150,908
Other intangible assets, net	203,329	91,833
Other assets	240,230	246,857
Total assets	12,288,019	11,519,167
Liabilities and Equity
Deposits	3,417,777	3,337,431
Accounts payable and accrued liabilities	781,477	820,356
Deferred revenue	250,421	252,331
Reserve for known and incurred but not reported claims	1,095,494	1,063,044
Income taxes payable	102,128	25,475
Deferred income taxes	266,108	266,108
Operating lease liabilities	309,782	322,776
Secured financings payable	478,598	278,412
Notes and contracts payable	1,010,623	728,232
Total liabilities	7,712,408	7,094,165
Commitments and contingencies (Note 16)
Stockholders’ equity:
Preferred stock, $0.00001 par value; Authorized—500 shares; Outstanding—none
Common stock, $0.00001 par value; Authorized—300,000 shares; Outstanding—111,519 shares and 112,476 shares	1	1
Additional paid-in capital	2,259,491	2,300,926
Retained earnings	2,294,552	2,161,049
Accumulated other comprehensive income (loss)	11,356	(41,492)
Total stockholders’ equity	4,565,400	4,420,484
Noncontrolling interests	10,211	4,518
Total equity	4,575,611	4,425,002
Total liabilities and equity	$ 12,288,019	$ 11,519,167

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) shares in Thousands, $ in Thousands		Jun. 30, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Accounts and accrued income receivable, allowances		$ 12,172	$ 12,676
Debt securities, amortized cost		5,714,833	5,796,755
Debt securities, allowance for credit losses	[1]	1,380	0
Pledged securities included in debt securities		$ 93,904	$ 91,636
Preferred stock, par value		$ 0.00001	$ 0.00001
Preferred stock, shares authorized		500	500
Preferred stock, outstanding		0	0
Common stock, par value		$ 0.00001	$ 0.00001
Common stock, shares authorized		300,000	300,000
Common stock, shares outstanding		111,519	112,476
[1]	Reflects impairments resulting from credit-related factors, which are also included in net realized investment gains in the condensed consolidated statements of income for the three and six months ended June 30, 2020.

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenues
Direct premiums and escrow fees	$ 651,984	$ 668,018	$ 1,272,621	$ 1,182,220
Agent premiums	597,895	543,847	1,197,577	1,045,384
Information and other	231,169	200,669	442,681	373,561
Net investment income	58,420	77,711	104,294	159,979
Net realized investment gains	69,261	8,375	4,499	41,057
Total revenues	1,608,729	1,498,620	3,021,672	2,802,201
Expenses
Personnel costs	451,487	447,027	881,147	858,639
Premiums retained by agents	472,398	429,086	947,779	825,693
Other operating expenses	250,088	222,348	507,328	418,795
Provision for policy losses and other claims	138,688	109,130	256,165	206,842
Depreciation and amortization	40,976	32,884	72,425	65,818
Premium taxes	16,354	16,740	33,669	31,403
Interest	13,443	11,908	25,540	23,844
Total expenses	1,383,434	1,269,123	2,724,053	2,431,034
Income before income taxes	225,295	229,497	297,619	371,167
Income taxes	53,601	42,226	62,079	74,092
Net income	171,694	187,271	235,540	297,075
Less: Net income attributable to noncontrolling interests	1,039	616	1,681	845
Net income attributable to the Company	$ 170,655	$ 186,655	$ 233,859	$ 296,230
Net income per share attributable to the Company's stockholders (Note 10):
Basic	$ 1.52	$ 1.65	$ 2.07	$ 2.62
Diluted	1.52	1.64	2.06	2.61
Cash dividends declared per share	$ 0.44	$ 0.42	$ 0.88	$ 0.84
Weighted-average common shares outstanding (Note 10):
Basic	112,309	113,050	112,939	112,881
Diluted	112,555	113,498	113,270	113,366

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 171,694	$ 187,271	$ 235,540	$ 297,075
Other comprehensive income (loss), net of tax:
Unrealized gains on debt securities	58,467	53,174	71,086	112,679
Unrealized gains on debt securities for which credit-related portion was recognized in earnings	62		147
Foreign currency translation adjustment	14,373	3,444	(19,183)	10,332
Pension benefit adjustment	399	(75)	798	(151)
Total other comprehensive income, net of tax	73,301	56,543	52,848	122,860
Comprehensive income	244,995	243,814	288,388	419,935
Less: Comprehensive income attributable to noncontrolling interests	1,039	616	1,681	844
Comprehensive income attributable to the Company	$ 243,956	$ 243,198	$ 286,707	$ 419,091

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 Income (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, 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
Net income	297,075
Other comprehensive income (loss)	122,860
Balance, Value at Jun. 30, 2019	4,088,034	$ 1	2,276,737	1,845,865	(37,714)	4,084,889	3,145
Balance, Shares at Jun. 30, 2019		112,217
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
Net income	187,271	$ 0	0	186,655	0	186,655	616
Dividends on common shares	(47,084)	0	0	(47,084)	0	(47,084)	0
Shares issued in connection with share-based compensation	2,990	$ 0	3,836	(846)	0	2,990	0
Shares issued in connection with share-based compensation, shares		145
Share-based compensation	7,758	$ 0	7,758	0	0	7,758	0
Net activity related to noncontrolling interests	20	0	0	0	0	0	20
Other comprehensive income (loss)	56,543	0	0	0	56,543	56,543	0
Balance, Value at Jun. 30, 2019	4,088,034	$ 1	2,276,737	1,845,865	(37,714)	4,084,889	3,145
Balance, Shares at Jun. 30, 2019		112,217
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
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	$ 235,540
Other comprehensive income (loss)	52,848
Balance, Value at Jun. 30, 2020	$ 4,575,611	$ 1	2,259,491	2,294,552	11,356	4,565,400	10,211
Balance, Shares at Jun. 30, 2020	111,519	111,519
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
Net income	171,694	$ 0	0	170,655	0	170,655	1,039
Dividends on common shares	(48,996)	0	0	(48,996)	0	(48,996)	0
Purchase of Company shares	(3,079)	$ 0	(3,079)	0	0	(3,079)	0
Purchase of Company shares, shares		(71)
Shares issued in connection with share-based compensation	4,481	$ 0	5,308	(827)	0	4,481	0
Shares issued in connection with share-based compensation, shares		173
Share-based compensation	9,693	$ 0	9,693	0	0	9,693	0
Net activity related to noncontrolling interests	(405)	0	0	0	0	0	(405)
Other comprehensive income (loss)	73,301	0	0	0	73,301	73,301	0
Balance, Value at Jun. 30, 2020	$ 4,575,611	$ 1	$ 2,259,491	$ 2,294,552	$ 11,356	$ 4,565,400	$ 10,211
Balance, Shares at Jun. 30, 2020	111,519	111,519

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net income	$ 235,540	$ 297,075
Adjustments to reconcile net income to cash provided by operating activities:
Provision for policy losses and other claims	256,165	206,842
Depreciation and amortization	72,425	65,818
Amortization of premiums and accretion of discounts on debt securities, net	20,162	11,369
Net realized investment gains	(4,499)	(41,057)
Share-based compensation	35,596	27,355
Equity in earnings of equity method investments, net	(1,121)	(162)
Dividends from equity method investments	2,674	2,332
Changes in assets and liabilities excluding effects of acquisitions and noncash transactions:
Claims paid, including assets acquired, net of recoveries	(214,594)	(199,895)
Net change in income tax accounts	58,132	45,174
Increase in accounts and accrued income receivable	(29,006)	(35,142)
Decrease in accounts payable and accrued liabilities	(74,602)	(71,196)
(Decrease) increase in deferred revenue	(2,846)	1,068
Other, net	13,924	(8,472)
Cash provided by operating activities	367,950	301,109
Cash flows from investing activities:
Net cash effect of acquisitions/dispositions	(386,231)	(4,725)
Net decrease (increase) in deposits with banks	3,769	(2,268)
Purchases of debt and equity securities	(1,219,902)	(1,147,192)
Proceeds from sales of debt and equity securities	583,175	698,393
Proceeds from maturities of debt securities	702,670	342,790
Investments in unconsolidated entities	(49,840)	(77,000)
Net change in other investments	(3,022)	1,424
Advances under secured financing agreements	(6,317,790)	(2,775,216)
Collections of secured financings receivable	6,025,653	2,650,317
Capital expenditures	(58,045)	(53,951)
Proceeds from sales of property and equipment	13,934	105
Proceeds from insurance settlement	123	0
Cash used for investing activities	(705,506)	(367,323)
Cash flows from financing activities:
Net change in deposits	80,346	3,376
Borrowings under secured financing agreements	6,235,457	2,764,605
Repayments of secured financings payable	(6,035,271)	(2,650,804)
Net proceeds from issuance of unsecured senior notes	443,753	0
Borrowings under unsecured credit facility	120,000	160,000
Repayments of borrowings under unsecured credit facility	(280,000)	(160,000)
Repayments of notes and contracts payable	(2,658)	(2,905)
Net activity related to noncontrolling interests	(1,732)	(1,045)
Net payments in connection with share-based compensation	(9,897)	(8,490)
Repurchases of Company shares	(68,864)	(2,066)
Payments of cash dividends	(98,698)	(94,105)
Cash provided by financing activities	382,436	8,566
Effect of exchange rate changes on cash	(7,495)	2,484
Net increase (decrease) in cash and cash equivalents	37,385	(55,164)
Cash and cash equivalents—Beginning of period	1,485,959	1,467,129
Cash and cash equivalents—End of period	1,523,344	1,411,965
Supplemental information:
Interest	20,371	22,936
Premium taxes	42,098	37,370
Income taxes, less refunds of $2,692 and $612	$ 4,283	$ 28,902

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Statement Of Cash Flows [Abstract]
Income taxes, refunds	$ 2,692	$ 612

Basis of Condensed Consolidated

Basis of Condensed Consolidated Financial Statements	6 Months Ended
	Jun. 30, 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 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. 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. The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the financial statements, some of which consider the impact or expected impact of the coronavirus pandemic. Actual results could differ from the estimates and assumptions used due to the uncertainty created by the coronavirus pandemic, as well as other factors. Recently Adopted Accounting Pronouncements In August 2018, the Financial Accounting Standards Board (“FASB”) issued updated guidance 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	6 Months Ended
	Jun. 30, 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 $7.6 billion and $7.3 billion at June 30, 2020 and December 31, 2019, respectively, of which $3.2 billion was 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 $4.2 billion at June 30, 2020 and December 31, 2019. 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 $2.4 billion and $3.0 billion at June 30, 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	6 Months Ended
	Jun. 30, 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 that changed 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 June 30, 2020 U.S. Treasury bonds $ 116,803 $ — $ 1,595 $ (26 ) $ 118,372 Municipal bonds 1,019,585 — 63,082 (453 ) 1,082,214 Foreign government bonds 168,552 (158 ) 6,675 (25 ) 175,044 Governmental agency bonds 249,014 — 12,416 — 261,430 Governmental agency mortgage-backed securities 3,277,557 — 83,942 (1,603 ) 3,359,896 U.S. corporate debt securities 564,266 (914 ) 34,282 (2,810 ) 594,824 Foreign corporate debt securities 319,056 (308 ) 15,473 (933 ) 333,288 $ 5,714,833 $ (1,380 ) $ 217,465 $ (5,850 ) $ 5,925,068 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) Reflects impairments resulting from credit-related factors, which are also included in net realized investment gains in the condensed consolidated statements of income for the three and six months ended June 30, 2020. Sales of debt securities resulted in realized gains of $3.2 million and $9.3 million, realized losses of $1.8 million and $3.0 million, and proceeds of $285.1 million and $494.6 million for the three and six months ended June 30, 2020, respectively, and realized gains of $1.8 million and $4.9 million, realized losses of $1.7 million and $4.7 million, and proceeds of $231.3 million and $622.7 million for the three and six months ended June 30, 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 June 30, 2020 U.S. Treasury bonds $ 1,260 $ (26 ) $ — $ — $ 1,260 $ (26 ) Municipal bonds 22,657 (429 ) 701 (24 ) 23,358 (453 ) Foreign government bonds 44,398 (25 ) — — 44,398 (25 ) Governmental agency mortgage-backed securities 302,964 (737 ) 232,343 (866 ) 535,307 (1,603 ) U.S. corporate debt securities 80,958 (2,595 ) 2,711 (215 ) 83,669 (2,810 ) Foreign corporate debt securities 34,889 (915 ) 238 (18 ) 35,127 (933 ) $ 487,126 $ (4,727 ) $ 235,993 $ (1,123 ) $ 723,119 $ (5,850 ) 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. As such, the Company does not consider these securities to be credit impaired at June 30, 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 June 30, 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 for the three and six months ended June 30, 2020 is summarized as follows: (in thousands) Three Months Ended Six Months Ended Balance at beginning of period $ (7,493 ) $ — Credit losses recognized during the period — (7,493 ) Net decreases to credit losses previously recognized 3,460 3,460 Reductions for securities sold 2,653 2,653 Balance at end of period $ (1,380 ) $ (1,380 ) 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 June 30, 2020 totaled $27.4 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 June 30, 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 $ 41,815 $ 38,745 $ 31,644 $ 4,599 $ 116,803 Estimated fair value $ 42,074 $ 39,650 $ 31,953 $ 4,695 $ 118,372 Municipal bonds Amortized cost $ 59,526 $ 124,491 $ 332,658 $ 502,910 $ 1,019,585 Estimated fair value $ 59,907 $ 128,446 $ 356,731 $ 537,130 $ 1,082,214 Foreign government bonds Amortized cost $ 52,209 $ 45,589 $ 56,838 $ 13,916 $ 168,552 Estimated fair value $ 52,228 $ 47,349 $ 60,692 $ 14,775 $ 175,044 Governmental agency bonds Amortized cost $ 20,246 $ 49,447 $ 126,215 $ 53,106 $ 249,014 Estimated fair value $ 20,452 $ 52,030 $ 130,442 $ 58,506 $ 261,430 U.S. corporate debt securities Amortized cost $ 18,974 $ 312,493 $ 164,216 $ 68,583 $ 564,266 Estimated fair value $ 19,027 $ 329,303 $ 172,749 $ 73,745 $ 594,824 Foreign corporate debt securities Amortized cost $ 13,578 $ 198,490 $ 78,441 $ 28,547 $ 319,056 Estimated fair value $ 13,649 $ 205,759 $ 83,466 $ 30,414 $ 333,288 Total debt securities excluding mortgage-backed securities Amortized cost $ 206,348 $ 769,255 $ 790,012 $ 671,661 $ 2,437,276 Estimated fair value $ 207,337 $ 802,537 $ 836,033 $ 719,265 $ 2,565,172 Total mortgage-backed securities Amortized cost $ 3,277,557 Estimated fair value $ 3,359,896 Total debt securities Amortized cost $ 5,714,833 Estimated fair value $ 5,925,068 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 June 30, 2020 Preferred stocks $ 21,006 $ 15,036 Common stocks 349,722 371,320 $ 370,728 $ 386,356 December 31, 2019 Preferred stocks $ 21,849 $ 18,094 Common stocks 328,110 374,224 $ 349,959 $ 392,318 Net gains (realized and unrealized) of $59.1 million and net losses (realized and unrealized) of $23.4 million were recognized for the three and six months ended June 30, 2020, respectively, as a result of changes in the fair values of equity securities. Included in net gains during the three months ended June 30, 2020 were net unrealized gains of $58.7 million and included in net losses during the six months ended June 30, 2020 were net unrealized losses of $23.7 million, respectively, related to equity securities still held at June 30, 2020. Net gains (realized and unrealized) of $8.9 million and $41.4 million were recognized for the three and six months ended June 30, 2019, respectively, as a result of changes in the fair values of equity securities. Included in net gains during the three and six months ended June 30, 2019, were net unrealized gains of $8.4 million and $37.4 million, respectively, related to equity securities still held at June 30, 2019. The composition of the investment portfolio at June 30, 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 $ 118,372 100.0 $ — — $ — — $ 118,372 100.0 Municipal bonds 1,047,717 96.8 33,780 3.1 717 0.1 1,082,214 100.0 Foreign government bonds 159,198 90.9 13,082 7.5 2,764 1.6 175,044 100.0 Governmental agency bonds 261,430 100.0 — — — — 261,430 100.0 Governmental agency mortgage-backed securities 3,359,896 100.0 — — — — 3,359,896 100.0 U.S. corporate debt securities 297,561 50.0 232,509 39.1 64,754 10.9 594,824 100.0 Foreign corporate debt securities 132,886 39.9 175,388 52.6 25,014 7.5 333,288 100.0 Total debt securities 5,377,060 90.7 454,759 7.7 93,249 1.6 5,925,068 100.0 Preferred stocks 38 0.3 14,114 93.8 884 5.9 15,036 100.0 Total $ 5,377,098 90.5 $ 468,873 7.9 $ 94,133 1.6 $ 5,940,104 100.0 Included in debt securities at June 30, 2020, were bank loans totaling $65.3 million, of which $60.2 million were non-investment grade; high yield corporate debt securities totaling $26.9 million, all of which were non-investment grade; and emerging market debt securities totaling $62.9 million, of which $5.4 million were non-investment grade. The composition of the debt securities portfolio in an unrealized loss position at June 30, 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 U.S. Treasury bonds $ 1,260 100.0 $ — — $ — — $ 1,260 100.0 Municipal bonds 16,828 72.0 6,530 28.0 — — 23,358 100.0 Foreign government bonds 43,996 99.1 — — 402 0.9 44,398 100.0 Governmental agency mortgage-backed securities 535,307 100.0 — — — — 535,307 100.0 U.S. corporate debt securities 10,128 12.1 22,788 27.2 50,753 60.7 83,669 100.0 Foreign corporate debt securities 2,426 6.9 17,186 48.9 15,515 44.2 35,127 100.0 Total $ 609,945 84.3 $ 46,504 6.5 $ 66,670 9.2 $ 723,119 100.0 Debt securities in an unrealized loss position at June 30, 2020, included bank loans totaling $59.8 million, of which $54.7 million were non-investment grade; high yield corporate debt securities totaling $9.7 million, all of which were non-investment grade; and emerging market debt securities totaling $4.7 million, of which $2.3 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	6 Months Ended
	Jun. 30, 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 for the three and six months ended June 30, 2020 is summarized as follows: (in thousands) Three Months Ended Six Months Ended Balance at beginning of period $ 11,576 $ 12,676 Provision for expected credit losses 2,018 3,021 Write-offs, net of recoveries (1,422 ) (3,525 ) Balance at end of period $ 12,172 $ 12,172 (1) The allowance at December 31, 2019 was 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 June 30, 2020 totaled $2.4 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 for credit losses has been recorded due to, among other factors, the Company typically identifying investors in the underlying mortgage loans prior to making advances, the short-term nature of these receivables, the underlying mortgage loans are predominantly Qualified Mortgages (QM) and due to the receivable having 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	6 Months Ended
	Jun. 30, 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 six months ended June 30, 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 241,016 — 241,016 Dispositions (358 ) — (358 ) Foreign currency translation (2,980 ) — (2,980 ) Balance at June 30, 2020 $ 1,341,821 $ 46,765 $ 1,388,586 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 six months ended June 30, 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 17 Business Combinations.

Other Intangible Assets

Other Intangible Assets	6 Months Ended
	Jun. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Other Intangible Assets	Note 6 – Other Intangible Assets Other intangible assets consist of the following: (in thousands) June 30, 2020 December 31, 2019 Finite-lived intangible assets: Customer relationships $ 178,150 $ 99,905 Noncompete agreements 38,430 13,150 Trademarks 23,334 10,520 Internal-use software licenses 19,865 21,982 Patents 2,840 2,840 262,619 148,397 Accumulated amortization (76,175 ) (73,449 ) 186,444 74,948 Indefinite-lived intangible assets: Licenses 16,885 16,885 $ 203,329 $ 91,833 Amortization expense for finite-lived intangible assets was $13.6 million and $19.9 million for the three and six months ended June 30, 2020, respectively, and $7.3 million and $15.3 million for the three and six months ended June 30, 2019, respectively. The current year increase in finite-lived intangible assets primarily reflects the impact of acquisitions during 2020. For further discussion about the Company’s acquisitions in 2020, see Note 17 Business Combinations. Estimated amortization expense for finite-lived intangible assets for the next five years is as follows: Year (in thousands) Remainder of 2020 $ 20,997 2021 $ 34,311 2022 $ 32,796 2023 $ 29,903 2024 $ 23,775 2025 $ 17,656

Reserve for Known and Incurred

Reserve for Known and Incurred but Not Reported Claims	6 Months Ended
	Jun. 30, 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: Six Months Ended (in thousands) 2020 2019 Balance at beginning of period $ 1,063,044 $ 1,042,679 Provision related to: Current year 225,921 194,000 Prior years 30,244 12,842 256,165 206,842 Payments, net of recoveries, related to: Current year 87,928 85,811 Prior years 126,666 114,084 214,594 199,895 Other (9,121 ) (7,418 ) Balance at end of period $ 1,095,494 $ 1,042,208 The provision for title insurance losses, expressed as a percentage of title insurance premiums and escrow fees, was 5.0% for the three and six months ended June 30, 2020 compared to 4.0% for the three and six months ended June 30, 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 $5.6 million. The 4.0% rate for the second 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. Incurred title claims for the three and six months ended June 30, 2020 were lower by 26.1% and 16.5%, respectively, when compared with the same periods 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) June 30, 2020 December 31, 2019 Known title claims $ 70,866 6.5 % $ 83,382 7.8 % Incurred but not reported claims 943,512 86.1 % 903,994 85.1 % Total title claims 1,014,378 92.6 % 987,376 92.9 % Non-title claims 81,116 7.4 % 75,668 7.1 % Total loss reserves $ 1,095,494 100.0 % $ 1,063,044 100.0 %

Notes and Contracts Payable

Notes and Contracts Payable	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Notes and Contracts Payable	Note 8 – Notes and Contracts Payable In May 2020, the Company issued $450.0 million of 4.00% 10 year senior unsecured notes due in 2030. Interest is due semi-annually on May 15 and November 15, beginning November 15, 2020. The Company used a portion of the net proceeds from the sale to repay all borrowings outstanding under its credit facility, increasing the unused capacity thereunder to the full $700.0 million size of the facility.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Note 9 – Income Taxes The Company’s effective income tax rates (income tax expense as a percentage of income before income taxes) were 23.8% and 20.9% for the three and six months ended June 30, 2020, respectively, and 18.4% and 20.0% for the three and six months ended June 30, 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 rates for 2020 reflect a benefit related to foreign tax law changes, and the rates for 2019 reflect the resolution of state tax matters from prior years. 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 June 30, 2020 and December 31, 2019, the liability for income taxes associated with uncertain tax positions was $6.8 million and $1.5 million, respectively. The increase in the current year results primarily from positions taken on the Company’s tax returns for prior years. As of June 30, 2020 and December 31, 2019, the liability could be reduced by $1.9 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. Accrued interest and penalties, net of tax benefits, related to uncertain tax positions were not material as of June 30, 2020 and December 31, 2019. 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 June 30, 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	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Earnings Per Share	Note 10 – Earnings Per Share The computation of basic and diluted earnings per share is as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands, except per share amounts) 2020 2019 2020 2019 Numerator Net income attributable to the Company $ 170,655 $ 186,655 $ 233,859 $ 296,230 Denominator Basic weighted-average shares 112,309 113,050 112,939 112,881 Effect of dilutive employee stock options and 246 448 331 485 Diluted weighted-average shares 112,555 113,498 113,270 113,366 Net income per share attributable to the Company’s stockholders Basic $ 1.52 $ 1.65 $ 2.07 $ 2.62 Diluted $ 1.52 $ 1.64 $ 2.06 $ 2.61 For the three and six months ended June 30, 2020, 410 thousand and 299 thousand RSUs, respectively, were excluded from the weighted-average diluted common shares outstanding due to their antidilutive effect. For the three and six months ended June 30, 2019, RSUs excluded from the weighted-average diluted common shares outstanding due to their antidilutive effect were not material. No stock options had a dilutive effect on weighted-average common shares outstanding during the three and six months ended June 30, 2020, as all remaining stock options outstanding were exercised during the fourth quarter of 2019.

Employee Benefit Plans

Employee Benefit Plans	6 Months Ended
	Jun. 30, 2020
Compensation And Retirement Disclosure [Abstract]
Employee Benefit Plans	Note 11 – Employee Benefit Plans Net periodic cost related to the Company’s unfunded supplemental benefit plans includes the following components: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2020 2019 2020 2019 Expense: Service costs $ 45 $ 71 $ 90 $ 141 Interest costs 1,781 2,279 3,562 4,558 Amortization of net actuarial loss 1,320 915 2,640 1,830 Amortization of prior service credit (777 ) (1,017 ) (1,554 ) (2,035 ) $ 2,369 $ 2,248 $ 4,738 $ 4,494 The Company contributed $7.2 million to its unfunded supplemental benefit plans during the six months ended June 30, 2020, and expects to contribute an additional $8.2 million during the remainder of 2020.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 12 – 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 June 30, 2020 and December 31, 2019: (in thousands) Total Level 1 Level 2 Level 3 June 30, 2020 Debt securities: U.S. Treasury bonds $ 118,372 $ — $ 118,372 $ — Municipal bonds 1,082,214 — 1,082,214 — Foreign government bonds 175,044 — 175,044 — Governmental agency bonds 261,430 — 261,430 — Governmental agency mortgage-backed securities 3,359,896 — 3,359,896 — U.S. corporate debt securities 594,824 — 594,824 — Foreign corporate debt securities 333,288 — 333,288 — 5,925,068 — 5,925,068 — Equity securities: Preferred stocks 15,036 15,036 — — Common stocks 371,320 371,320 — — 386,356 386,356 — — Total assets $ 6,311,424 $ 386,356 $ 5,925,068 $ — (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 and six months ended June 30, 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 June 30, 2020 and December 31, 2019: Carrying Estimated fair value (in thousands) Amount Total Level 1 Level 2 Level 3 June 30, 2020 Assets: Cash and cash equivalents $ 1,523,344 $ 1,523,344 $ 1,523,344 $ — $ — Deposits with banks $ 39,311 $ 39,480 $ 2,609 $ 36,871 $ — Notes receivable, net $ 22,125 $ 21,081 $ — $ — $ 21,081 Secured financings receivable $ 579,596 $ 579,596 $ — $ 579,596 $ — Liabilities: Secured financings payable $ 478,598 $ 478,598 $ — $ 478,598 $ — Notes and contracts payable $ 1,010,623 $ 1,100,750 $ — $ 1,095,746 $ 5,004 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	6 Months Ended
	Jun. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-Based Compensation	Note 13 – Share-Based Compensation The following table presents costs associated with the Company’s share-based compensation plans: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2020 2019 2020 2019 Expense: RSUs $ 8,056 $ 6,805 $ 32,714 $ 25,153 Employee stock purchase plan 1,637 953 2,882 2,202 $ 9,693 $ 7,758 $ 35,596 $ 27,355 The following table summarizes RSU activity for the six months ended June 30, 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 740 $ 64.26 Vested during 2020 (817 ) $ 52.49 Forfeited during 2020 (13 ) $ 55.90 Unvested at June 30, 2020 1,062 $ 57.14

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Stockholders' Equity	Note 14 – Stockholders’ Equity The Company maintains a stock repurchase plan with authorization up to $250.0 million, of which $92.7 million remained as of June 30, 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 and six months ended June 30, 2020, the Company repurchased and retired 71 thousand and 1.8 million shares of its common stock for a total purchase price of $3.1 million and $68.9 million, respectively, and as of June 30, 2020, had repurchased and retired 5.4 million shares of its common stock under the current authorization for a total purchase price of $157.3 million.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss) ("AOCI")	6 Months Ended
	Jun. 30, 2020
Accumulated Other Comprehensive Income Other Comprehensive Income [Abstract]
Accumulated Other Comprehensive Income (Loss) ("AOCI")	Note 15 – Accumulated Other Comprehensive Income (Loss) (“AOCI”) The following table presents a summary of the changes in each component of AOCI for the six months ended June 30, 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 94,539 — — 94,539 — 94,539 Change in unrealized gains (losses) on debt securities for which credit-related portion was recognized in earnings 195 — — 195 — 195 Change in foreign currency translation adjustment — (20,315 ) — (20,315 ) — (20,315 ) Amortization of net actuarial loss — — 2,640 2,640 — 2,640 Amortization of prior service credit — — (1,554 ) (1,554 ) — (1,554 ) Tax effect (23,501 ) 1,132 (288 ) (22,657 ) — (22,657 ) Balance at June 30, 2020 $ 154,350 $ (70,851 ) $ (72,143 ) $ 11,356 $ 1 $ 11,357 The following table presents the other comprehensive income (loss) reclassification adjustments for the three months ended June 30, 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 June 30, 2020 Pretax change before reclassifications $ 77,887 $ 14,373 $ — $ 92,260 Reclassifications out of AOCI (1,370 ) — 543 (827 ) Tax effect (17,988 ) — (144 ) (18,132 ) Total other comprehensive income (loss), net of tax $ 58,529 $ 14,373 $ 399 $ 73,301 Three Months Ended June 30, 2019 Pretax change before reclassifications $ 69,582 $ 3,594 $ — $ 73,176 Reclassifications out of AOCI 246 — (102 ) 144 Tax effect (16,654 ) (150 ) 27 (16,777 ) Total other comprehensive income (loss), net of tax $ 53,174 $ 3,444 $ (75 ) $ 56,543 The following table presents the other comprehensive income (loss) reclassification adjustments for the six months ended June 30, 2020 and 2019: (in thousands) Unrealized gains (losses) on debt securities Foreign currency translation adjustment Pension benefit adjustment Total other comprehensive income (loss) Six Months Ended June 30, 2020 Pretax change before reclassifications $ 93,282 $ (20,315 ) $ — $ 72,967 Reclassifications out of AOCI 1,452 — 1,086 2,538 Tax effect (23,501 ) 1,132 (288 ) (22,657 ) Total other comprehensive income (loss), net of tax $ 71,233 $ (19,183 ) $ 798 $ 52,848 Six Months Ended June 30, 2019 Pretax change before reclassifications $ 147,347 $ 10,760 $ — $ 158,107 Reclassifications out of AOCI 287 — (205 ) 82 Tax effect (34,955 ) (428 ) 54 (35,329 ) Total other comprehensive income (loss), net of tax $ 112,679 $ 10,332 $ (151 ) $ 122,860 The following table presents the effects of the reclassifications out of AOCI on the respective line items in the condensed consolidated statements of income: Amounts reclassified from AOCI Three Months Ended June 30, Six Months Ended June 30, Affected line items (in thousands) 2020 2019 2020 2019 Unrealized gains (losses) on debt securities: Net realized gains (losses) on sales of debt securities $ 1,384 $ (246 ) $ 6,055 $ (287 ) Net realized investment gains Credit losses recognized on debt securities (14 ) — (7,507 ) — Net realized investment gains Pretax total $ 1,370 $ (246 ) $ (1,452 ) $ (287 ) Tax effect $ (322 ) $ 58 $ 360 $ 68 Pension benefit adjustment (1): Amortization of net actuarial loss $ (1,320 ) $ (915 ) $ (2,640 ) $ (1,830 ) Other operating expenses Amortization of prior service credit 777 1,017 1,554 2,035 Other operating expenses Pretax total $ (543 ) $ 102 $ (1,086 ) $ 205 Tax effect $ 144 $ (27 ) $ 288 $ (54 ) (1) These components of AOCI are components of net periodic cost. See Note 11 Employee Benefit Plans for additional details.

Litigation and Regulatory Conti

Litigation and Regulatory Contingencies	6 Months Ended
	Jun. 30, 2020
Commitments And Contingencies Disclosure [Abstract]
Litigation and Regulatory Contingencies	Note 16 – 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, • Leonard vs. First American Property & Casualty Insurance Company, filed on October 17, 2019 and pending in the United States District Court for the Western District of Washington, • 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 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 two recently active investigations initiated in connection with the information security incident that occurred during the second quarter of 2019, one being conducted by the Securities and Exchange Commission enforcement staff and the other by the New York Department of Financial Services. The Securities and Exchange Commission enforcement staff is questioning the adequacy of disclosures the Company made at the time of the incident and the adequacy of its disclosure controls. The New York Department of Financial Services has alleged violations of its cyber security requirements for financial services companies and has filed a statement of charges in connection therewith. 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 $14.4 million, which is based on the exchange rate as of, and includes interest charges through, June 30, 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	6 Months Ended
	Jun. 30, 2020
Business Combinations [Abstract]
Business Combinations	Note 17 – Business Combinations During the six months ended June 30, 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 year 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 recorded goodwill, property and equipment and other intangible assets of $202.7 million, $19.0 million and $121.0 million, respectively.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Segment Information	Note 18 – 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 June 30, 2020: (in thousands) Revenues Income (loss) before income taxes Depreciation and amortization Capital expenditures Title Insurance and Services $ 1,462,939 $ 237,802 $ 38,995 $ 24,999 Specialty Insurance 133,518 7,319 1,943 3,100 Corporate 12,516 (19,826 ) 38 — Eliminations (244 ) — — — $ 1,608,729 $ 225,295 $ 40,976 $ 28,099 (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 $ 530,735 $ 597,895 $ 228,252 $ 43,234 $ 62,823 $ 1,462,939 Specialty Insurance 121,249 — 3,103 2,316 6,850 133,518 $ 651,984 $ 597,895 $ 231,355 $ 45,550 $ 69,673 $ 1,596,457 For the three months ended June 30, 2019: (in thousands) Revenues Income (loss) before income taxes Depreciation and amortization Capital expenditures Title Insurance and Services $ 1,371,874 $ 232,813 $ 31,061 $ 23,491 Specialty Insurance 122,968 15,740 1,785 2,675 Corporate 4,127 (19,056 ) 38 — Eliminations (349 ) — — — $ 1,498,620 $ 229,497 $ 32,884 $ 26,166 (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 $ 552,358 $ 543,847 $ 197,779 $ 70,970 $ 6,920 $ 1,371,874 Specialty Insurance 115,660 — 3,153 2,700 1,455 122,968 $ 668,018 $ 543,847 $ 200,932 $ 73,670 $ 8,375 $ 1,494,842 For the six months ended June 30, 2020: (in thousands) Revenues Income (loss) before income taxes Depreciation and amortization Capital expenditures Title Insurance and Services $ 2,763,564 $ 310,778 $ 68,512 $ 53,422 Specialty Insurance 255,487 20,177 3,837 5,901 Corporate 3,205 (33,336 ) 76 — Eliminations (584 ) — — — $ 3,021,672 $ 297,619 $ 72,425 $ 59,323 (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 $ 1,032,036 $ 1,197,577 $ 436,525 $ 102,902 $ (5,476 ) $ 2,763,564 Specialty Insurance 240,585 — 6,542 4,900 3,460 255,487 $ 1,272,621 $ 1,197,577 $ 443,067 $ 107,802 $ (2,016 ) $ 3,019,051 For the six months ended June 30, 2019: (in thousands) Revenues Income (loss) before income taxes Depreciation and amortization Capital expenditures Title Insurance and Services $ 2,544,056 $ 374,820 $ 62,223 $ 48,970 Specialty Insurance 245,149 33,525 3,519 5,172 Corporate 13,686 (37,178 ) 76 — Eliminations (690 ) — — — $ 2,802,201 $ 371,167 $ 65,818 $ 54,142 (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 $ 955,114 $ 1,045,384 $ 367,870 $ 141,023 $ 34,665 $ 2,544,056 Specialty Insurance 227,106 — 6,219 5,432 6,392 245,149 $ 1,182,220 $ 1,045,384 $ 374,089 $ 146,455 $ 41,057 $ 2,789,205

Basis of Condensed Consolidat_2

Basis of Condensed Consolidated Financial Statements (Policies)	6 Months Ended
	Jun. 30, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Coronavirus Pandemic	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. The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the financial statements, some of which consider the impact or expected impact of the coronavirus pandemic. Actual results could differ from the estimates and assumptions used due to the uncertainty created by the coronavirus pandemic, as well as other factors.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In August 2018, the Financial Accounting Standards Board (“FASB”) issued updated guidance 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)	6 Months Ended
	Jun. 30, 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 June 30, 2020 U.S. Treasury bonds $ 116,803 $ — $ 1,595 $ (26 ) $ 118,372 Municipal bonds 1,019,585 — 63,082 (453 ) 1,082,214 Foreign government bonds 168,552 (158 ) 6,675 (25 ) 175,044 Governmental agency bonds 249,014 — 12,416 — 261,430 Governmental agency mortgage-backed securities 3,277,557 — 83,942 (1,603 ) 3,359,896 U.S. corporate debt securities 564,266 (914 ) 34,282 (2,810 ) 594,824 Foreign corporate debt securities 319,056 (308 ) 15,473 (933 ) 333,288 $ 5,714,833 $ (1,380 ) $ 217,465 $ (5,850 ) $ 5,925,068 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) Reflects impairments resulting from credit-related factors, which are also included in net realized investment gains in the condensed consolidated statements of income for the three and six months ended June 30, 2020.
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 June 30, 2020 U.S. Treasury bonds $ 1,260 $ (26 ) $ — $ — $ 1,260 $ (26 ) Municipal bonds 22,657 (429 ) 701 (24 ) 23,358 (453 ) Foreign government bonds 44,398 (25 ) — — 44,398 (25 ) Governmental agency mortgage-backed securities 302,964 (737 ) 232,343 (866 ) 535,307 (1,603 ) U.S. corporate debt securities 80,958 (2,595 ) 2,711 (215 ) 83,669 (2,810 ) Foreign corporate debt securities 34,889 (915 ) 238 (18 ) 35,127 (933 ) $ 487,126 $ (4,727 ) $ 235,993 $ (1,123 ) $ 723,119 $ (5,850 ) 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 for the three and six months ended June 30, 2020 is summarized as follows: (in thousands) Three Months Ended Six Months Ended Balance at beginning of period $ (7,493 ) $ — Credit losses recognized during the period — (7,493 ) Net decreases to credit losses previously recognized 3,460 3,460 Reductions for securities sold 2,653 2,653 Balance at end of period $ (1,380 ) $ (1,380 )
Investments in Debt Securities by Contractual Maturity	Investments in debt securities at June 30, 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 $ 41,815 $ 38,745 $ 31,644 $ 4,599 $ 116,803 Estimated fair value $ 42,074 $ 39,650 $ 31,953 $ 4,695 $ 118,372 Municipal bonds Amortized cost $ 59,526 $ 124,491 $ 332,658 $ 502,910 $ 1,019,585 Estimated fair value $ 59,907 $ 128,446 $ 356,731 $ 537,130 $ 1,082,214 Foreign government bonds Amortized cost $ 52,209 $ 45,589 $ 56,838 $ 13,916 $ 168,552 Estimated fair value $ 52,228 $ 47,349 $ 60,692 $ 14,775 $ 175,044 Governmental agency bonds Amortized cost $ 20,246 $ 49,447 $ 126,215 $ 53,106 $ 249,014 Estimated fair value $ 20,452 $ 52,030 $ 130,442 $ 58,506 $ 261,430 U.S. corporate debt securities Amortized cost $ 18,974 $ 312,493 $ 164,216 $ 68,583 $ 564,266 Estimated fair value $ 19,027 $ 329,303 $ 172,749 $ 73,745 $ 594,824 Foreign corporate debt securities Amortized cost $ 13,578 $ 198,490 $ 78,441 $ 28,547 $ 319,056 Estimated fair value $ 13,649 $ 205,759 $ 83,466 $ 30,414 $ 333,288 Total debt securities excluding mortgage-backed securities Amortized cost $ 206,348 $ 769,255 $ 790,012 $ 671,661 $ 2,437,276 Estimated fair value $ 207,337 $ 802,537 $ 836,033 $ 719,265 $ 2,565,172 Total mortgage-backed securities Amortized cost $ 3,277,557 Estimated fair value $ 3,359,896 Total debt securities Amortized cost $ 5,714,833 Estimated fair value $ 5,925,068
Investments in Equity Securities	Investments in equity securities are as follows: (in thousands) Cost Estimated fair value June 30, 2020 Preferred stocks $ 21,006 $ 15,036 Common stocks 349,722 371,320 $ 370,728 $ 386,356 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 June 30, 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 $ 118,372 100.0 $ — — $ — — $ 118,372 100.0 Municipal bonds 1,047,717 96.8 33,780 3.1 717 0.1 1,082,214 100.0 Foreign government bonds 159,198 90.9 13,082 7.5 2,764 1.6 175,044 100.0 Governmental agency bonds 261,430 100.0 — — — — 261,430 100.0 Governmental agency mortgage-backed securities 3,359,896 100.0 — — — — 3,359,896 100.0 U.S. corporate debt securities 297,561 50.0 232,509 39.1 64,754 10.9 594,824 100.0 Foreign corporate debt securities 132,886 39.9 175,388 52.6 25,014 7.5 333,288 100.0 Total debt securities 5,377,060 90.7 454,759 7.7 93,249 1.6 5,925,068 100.0 Preferred stocks 38 0.3 14,114 93.8 884 5.9 15,036 100.0 Total $ 5,377,098 90.5 $ 468,873 7.9 $ 94,133 1.6 $ 5,940,104 100.0
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 June 30, 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 U.S. Treasury bonds $ 1,260 100.0 $ — — $ — — $ 1,260 100.0 Municipal bonds 16,828 72.0 6,530 28.0 — — 23,358 100.0 Foreign government bonds 43,996 99.1 — — 402 0.9 44,398 100.0 Governmental agency mortgage-backed securities 535,307 100.0 — — — — 535,307 100.0 U.S. corporate debt securities 10,128 12.1 22,788 27.2 50,753 60.7 83,669 100.0 Foreign corporate debt securities 2,426 6.9 17,186 48.9 15,515 44.2 35,127 100.0 Total $ 609,945 84.3 $ 46,504 6.5 $ 66,670 9.2 $ 723,119 100.0

Credit Losses - Financial Ass_2

Credit Losses - Financial Assets and Off - Balance Sheet Credit Exposures (Tables)	6 Months Ended
	Jun. 30, 2020
Receivables [Abstract]
Summary of Allowance for Credit Losses on Accounts Receivables	Activity in the allowance for credit losses on accounts receivable for the three and six months ended June 30, 2020 is summarized as follows: (in thousands) Three Months Ended Six Months Ended Balance at beginning of period $ 11,576 $ 12,676 Provision for expected credit losses 2,018 3,021 Write-offs, net of recoveries (1,422 ) (3,525 ) Balance at end of period $ 12,172 $ 12,172 (1) The allowance at December 31, 2019 was determined under previous accounting guidance. Transition to the updated guidance did not result in an adjustment to the allowance.

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
	Jun. 30, 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 six months ended June 30, 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 241,016 — 241,016 Dispositions (358 ) — (358 ) Foreign currency translation (2,980 ) — (2,980 ) Balance at June 30, 2020 $ 1,341,821 $ 46,765 $ 1,388,586

Other Intangible Assets (Tables

Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2020
Intangible Assets Gross Excluding Goodwill [Abstract]
Schedule of Other Intangible Assets	Other intangible assets consist of the following: (in thousands) June 30, 2020 December 31, 2019 Finite-lived intangible assets: Customer relationships $ 178,150 $ 99,905 Noncompete agreements 38,430 13,150 Trademarks 23,334 10,520 Internal-use software licenses 19,865 21,982 Patents 2,840 2,840 262,619 148,397 Accumulated amortization (76,175 ) (73,449 ) 186,444 74,948 Indefinite-lived intangible assets: Licenses 16,885 16,885 $ 203,329 $ 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 $ 20,997 2021 $ 34,311 2022 $ 32,796 2023 $ 29,903 2024 $ 23,775 2025 $ 17,656

Reserve for Known and Incurre_2

Reserve for Known and Incurred but Not Reported Claims (Tables)	6 Months Ended
	Jun. 30, 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: Six Months Ended (in thousands) 2020 2019 Balance at beginning of period $ 1,063,044 $ 1,042,679 Provision related to: Current year 225,921 194,000 Prior years 30,244 12,842 256,165 206,842 Payments, net of recoveries, related to: Current year 87,928 85,811 Prior years 126,666 114,084 214,594 199,895 Other (9,121 ) (7,418 ) Balance at end of period $ 1,095,494 $ 1,042,208 A summary of the Company’s loss reserves is as follows: (in thousands, except percentages) June 30, 2020 December 31, 2019 Known title claims $ 70,866 6.5 % $ 83,382 7.8 % Incurred but not reported claims 943,512 86.1 % 903,994 85.1 % Total title claims 1,014,378 92.6 % 987,376 92.9 % Non-title claims 81,116 7.4 % 75,668 7.1 % Total loss reserves $ 1,095,494 100.0 % $ 1,063,044 100.0 %

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 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 June 30, Six Months Ended June 30, (in thousands, except per share amounts) 2020 2019 2020 2019 Numerator Net income attributable to the Company $ 170,655 $ 186,655 $ 233,859 $ 296,230 Denominator Basic weighted-average shares 112,309 113,050 112,939 112,881 Effect of dilutive employee stock options and 246 448 331 485 Diluted weighted-average shares 112,555 113,498 113,270 113,366 Net income per share attributable to the Company’s stockholders Basic $ 1.52 $ 1.65 $ 2.07 $ 2.62 Diluted $ 1.52 $ 1.64 $ 2.06 $ 2.61

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 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 June 30, Six Months Ended June 30, (in thousands) 2020 2019 2020 2019 Expense: Service costs $ 45 $ 71 $ 90 $ 141 Interest costs 1,781 2,279 3,562 4,558 Amortization of net actuarial loss 1,320 915 2,640 1,830 Amortization of prior service credit (777 ) (1,017 ) (1,554 ) (2,035 ) $ 2,369 $ 2,248 $ 4,738 $ 4,494

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2020 and December 31, 2019: (in thousands) Total Level 1 Level 2 Level 3 June 30, 2020 Debt securities: U.S. Treasury bonds $ 118,372 $ — $ 118,372 $ — Municipal bonds 1,082,214 — 1,082,214 — Foreign government bonds 175,044 — 175,044 — Governmental agency bonds 261,430 — 261,430 — Governmental agency mortgage-backed securities 3,359,896 — 3,359,896 — U.S. corporate debt securities 594,824 — 594,824 — Foreign corporate debt securities 333,288 — 333,288 — 5,925,068 — 5,925,068 — Equity securities: Preferred stocks 15,036 15,036 — — Common stocks 371,320 371,320 — — 386,356 386,356 — — Total assets $ 6,311,424 $ 386,356 $ 5,925,068 $ — (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 June 30, 2020 and December 31, 2019: Carrying Estimated fair value (in thousands) Amount Total Level 1 Level 2 Level 3 June 30, 2020 Assets: Cash and cash equivalents $ 1,523,344 $ 1,523,344 $ 1,523,344 $ — $ — Deposits with banks $ 39,311 $ 39,480 $ 2,609 $ 36,871 $ — Notes receivable, net $ 22,125 $ 21,081 $ — $ — $ 21,081 Secured financings receivable $ 579,596 $ 579,596 $ — $ 579,596 $ — Liabilities: Secured financings payable $ 478,598 $ 478,598 $ — $ 478,598 $ — Notes and contracts payable $ 1,010,623 $ 1,100,750 $ — $ 1,095,746 $ 5,004 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)	6 Months Ended
	Jun. 30, 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 June 30, Six Months Ended June 30, (in thousands) 2020 2019 2020 2019 Expense: RSUs $ 8,056 $ 6,805 $ 32,714 $ 25,153 Employee stock purchase plan 1,637 953 2,882 2,202 $ 9,693 $ 7,758 $ 35,596 $ 27,355
Summary of RSU Activity	The following table summarizes RSU activity for the six months ended June 30, 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 740 $ 64.26 Vested during 2020 (817 ) $ 52.49 Forfeited during 2020 (13 ) $ 55.90 Unvested at June 30, 2020 1,062 $ 57.14

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) ("AOCI") (Tables)	6 Months Ended
	Jun. 30, 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 six months ended June 30, 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 94,539 — — 94,539 — 94,539 Change in unrealized gains (losses) on debt securities for which credit-related portion was recognized in earnings 195 — — 195 — 195 Change in foreign currency translation adjustment — (20,315 ) — (20,315 ) — (20,315 ) Amortization of net actuarial loss — — 2,640 2,640 — 2,640 Amortization of prior service credit — — (1,554 ) (1,554 ) — (1,554 ) Tax effect (23,501 ) 1,132 (288 ) (22,657 ) — (22,657 ) Balance at June 30, 2020 $ 154,350 $ (70,851 ) $ (72,143 ) $ 11,356 $ 1 $ 11,357
Adjustments for Reclassification of Other Comprehensive Income (Loss)	The following table presents the other comprehensive income (loss) reclassification adjustments for the three months ended June 30, 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 June 30, 2020 Pretax change before reclassifications $ 77,887 $ 14,373 $ — $ 92,260 Reclassifications out of AOCI (1,370 ) — 543 (827 ) Tax effect (17,988 ) — (144 ) (18,132 ) Total other comprehensive income (loss), net of tax $ 58,529 $ 14,373 $ 399 $ 73,301 Three Months Ended June 30, 2019 Pretax change before reclassifications $ 69,582 $ 3,594 $ — $ 73,176 Reclassifications out of AOCI 246 — (102 ) 144 Tax effect (16,654 ) (150 ) 27 (16,777 ) Total other comprehensive income (loss), net of tax $ 53,174 $ 3,444 $ (75 ) $ 56,543 The following table presents the other comprehensive income (loss) reclassification adjustments for the six months ended June 30, 2020 and 2019: (in thousands) Unrealized gains (losses) on debt securities Foreign currency translation adjustment Pension benefit adjustment Total other comprehensive income (loss) Six Months Ended June 30, 2020 Pretax change before reclassifications $ 93,282 $ (20,315 ) $ — $ 72,967 Reclassifications out of AOCI 1,452 — 1,086 2,538 Tax effect (23,501 ) 1,132 (288 ) (22,657 ) Total other comprehensive income (loss), net of tax $ 71,233 $ (19,183 ) $ 798 $ 52,848 Six Months Ended June 30, 2019 Pretax change before reclassifications $ 147,347 $ 10,760 $ — $ 158,107 Reclassifications out of AOCI 287 — (205 ) 82 Tax effect (34,955 ) (428 ) 54 (35,329 ) Total other comprehensive income (loss), net of tax $ 112,679 $ 10,332 $ (151 ) $ 122,860
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: Amounts reclassified from AOCI Three Months Ended June 30, Six Months Ended June 30, Affected line items (in thousands) 2020 2019 2020 2019 Unrealized gains (losses) on debt securities: Net realized gains (losses) on sales of debt securities $ 1,384 $ (246 ) $ 6,055 $ (287 ) Net realized investment gains Credit losses recognized on debt securities (14 ) — (7,507 ) — Net realized investment gains Pretax total $ 1,370 $ (246 ) $ (1,452 ) $ (287 ) Tax effect $ (322 ) $ 58 $ 360 $ 68 Pension benefit adjustment (1): Amortization of net actuarial loss $ (1,320 ) $ (915 ) $ (2,640 ) $ (1,830 ) Other operating expenses Amortization of prior service credit 777 1,017 1,554 2,035 Other operating expenses Pretax total $ (543 ) $ 102 $ (1,086 ) $ 205 Tax effect $ 144 $ (27 ) $ 288 $ (54 ) (1) These components of AOCI are components of net periodic cost. See Note 11 Employee Benefit Plans for additional details.

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2020: (in thousands) Revenues Income (loss) before income taxes Depreciation and amortization Capital expenditures Title Insurance and Services $ 1,462,939 $ 237,802 $ 38,995 $ 24,999 Specialty Insurance 133,518 7,319 1,943 3,100 Corporate 12,516 (19,826 ) 38 — Eliminations (244 ) — — — $ 1,608,729 $ 225,295 $ 40,976 $ 28,099 (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 $ 530,735 $ 597,895 $ 228,252 $ 43,234 $ 62,823 $ 1,462,939 Specialty Insurance 121,249 — 3,103 2,316 6,850 133,518 $ 651,984 $ 597,895 $ 231,355 $ 45,550 $ 69,673 $ 1,596,457 For the three months ended June 30, 2019: (in thousands) Revenues Income (loss) before income taxes Depreciation and amortization Capital expenditures Title Insurance and Services $ 1,371,874 $ 232,813 $ 31,061 $ 23,491 Specialty Insurance 122,968 15,740 1,785 2,675 Corporate 4,127 (19,056 ) 38 — Eliminations (349 ) — — — $ 1,498,620 $ 229,497 $ 32,884 $ 26,166 (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 $ 552,358 $ 543,847 $ 197,779 $ 70,970 $ 6,920 $ 1,371,874 Specialty Insurance 115,660 — 3,153 2,700 1,455 122,968 $ 668,018 $ 543,847 $ 200,932 $ 73,670 $ 8,375 $ 1,494,842 For the six months ended June 30, 2020: (in thousands) Revenues Income (loss) before income taxes Depreciation and amortization Capital expenditures Title Insurance and Services $ 2,763,564 $ 310,778 $ 68,512 $ 53,422 Specialty Insurance 255,487 20,177 3,837 5,901 Corporate 3,205 (33,336 ) 76 — Eliminations (584 ) — — — $ 3,021,672 $ 297,619 $ 72,425 $ 59,323 (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 $ 1,032,036 $ 1,197,577 $ 436,525 $ 102,902 $ (5,476 ) $ 2,763,564 Specialty Insurance 240,585 — 6,542 4,900 3,460 255,487 $ 1,272,621 $ 1,197,577 $ 443,067 $ 107,802 $ (2,016 ) $ 3,019,051 For the six months ended June 30, 2019: (in thousands) Revenues Income (loss) before income taxes Depreciation and amortization Capital expenditures Title Insurance and Services $ 2,544,056 $ 374,820 $ 62,223 $ 48,970 Specialty Insurance 245,149 33,525 3,519 5,172 Corporate 13,686 (37,178 ) 76 — Eliminations (690 ) — — — $ 2,802,201 $ 371,167 $ 65,818 $ 54,142 (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 $ 955,114 $ 1,045,384 $ 367,870 $ 141,023 $ 34,665 $ 2,544,056 Specialty Insurance 227,106 — 6,219 5,432 6,392 245,149 $ 1,182,220 $ 1,045,384 $ 374,089 $ 146,455 $ 41,057 $ 2,789,205

Escrow Deposits, Like-Kind Ex_2

Escrow Deposits, Like-Kind Exchange Deposits and Trust Assets (Narrative) (Detail) - USD ($) $ in Billions	Jun. 30, 2020	Dec. 31, 2019
Other Assets [Line Items]
Escrow deposits	$ 7.6	$ 7.3
Like-kind exchange funds	2.4	3
First American Trust
Other Assets [Line Items]
Escrow deposits	3.2	3.2
Assets held-in-trust	$ 4.2	$ 4.2

Debt and Equity Securities (Inv

Debt and Equity Securities (Investments in Debt Securities, Classified as Available-For-Sale) (Detail) - USD ($) $ in Thousands		Jun. 30, 2020		Mar. 31, 2020	Dec. 31, 2019
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost		$ 5,714,833			$ 5,796,755
Debt Securities, Allowance for credit losses		(1,380)	[1]	$ 7,493	0	[1]
Debt Securities, Gross unrealized gains		217,465			127,123
Debt Securities, Gross unrealized losses		(5,850)			(10,242)
Debt securities, Estimated fair value		5,925,068			5,913,636
U.S. Treasury bonds
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost		116,803			143,825
Debt Securities, Allowance for credit losses	[1]	0			0
Debt Securities, Gross unrealized gains		1,595			469
Debt Securities, Gross unrealized losses		(26)			(353)
Debt securities, Estimated fair value		118,372			143,941
Municipal bonds
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost		1,019,585			1,043,252
Debt Securities, Allowance for credit losses	[1]	0			0
Debt Securities, Gross unrealized gains		63,082			47,804
Debt Securities, Gross unrealized losses		(453)			(217)
Debt securities, Estimated fair value		1,082,214			1,090,839
Foreign government bonds
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost		168,552			179,554
Debt Securities, Allowance for credit losses	[1]	(158)			0
Debt Securities, Gross unrealized gains		6,675			1,497
Debt Securities, Gross unrealized losses		(25)			(961)
Debt securities, Estimated fair value		175,044			180,090
Governmental agency bonds
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost		249,014			316,318
Debt Securities, Allowance for credit losses	[1]	0			0
Debt Securities, Gross unrealized gains		12,416			5,820
Debt Securities, Gross unrealized losses		0			(219)
Debt securities, Estimated fair value		261,430			321,919
Governmental agency mortgage-backed securities
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost		3,277,557			3,241,966
Debt Securities, Allowance for credit losses	[1]	0			0
Debt Securities, Gross unrealized gains		83,942			43,599
Debt Securities, Gross unrealized losses		(1,603)			(7,307)
Debt securities, Estimated fair value		3,359,896			3,278,258
U.S. corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost		564,266			535,878
Debt Securities, Allowance for credit losses	[1]	(914)			0
Debt Securities, Gross unrealized gains		34,282			18,466
Debt Securities, Gross unrealized losses		(2,810)			(972)
Debt securities, Estimated fair value		594,824			553,372
Foreign corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost		319,056			335,962
Debt Securities, Allowance for credit losses	[1]	(308)			0
Debt Securities, Gross unrealized gains		15,473			9,468
Debt Securities, Gross unrealized losses		(933)			(213)
Debt securities, Estimated fair value		$ 333,288			$ 345,217
[1]	Reflects impairments resulting from credit-related factors, which are also included in net realized investment gains in the condensed consolidated statements of income for the three and six months ended June 30, 2020.

Debt and Equity Securities (Nar

Debt and Equity Securities (Narrative) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Schedule Of Debt and Equity Securities [Line Items]
Realized gains on sales of debt securities	$ 3,200	$ 1,800	$ 9,300	$ 4,900
Realized losses on sales of debt securities	1,800	1,700	3,000	4,700
Proceeds from sale of debt securities	285,100	231,300	494,600	622,700
Accrued interest receivable	27,400		27,400
Realized and unrealized net gains (losses) on equity securities	59,100	8,900	(23,400)	41,400
Net unrealized gains (losses) on equity securities	58,700	$ 8,400	(23,700)	$ 37,400
Debt securities, Estimated fair value	5,925,068		5,925,068		$ 5,913,636
Estimated fair value of debt securities, Unrealized loss position	723,119		723,119		$ 1,663,146
Bank Loans
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	65,300		65,300
Estimated fair value of debt securities, Unrealized loss position	59,800		59,800
Emerging Market Securities
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	62,900		62,900
Estimated fair value of debt securities, Unrealized loss position	4,700		4,700
Non-Investment Grade
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	93,249		93,249
Estimated fair value of debt securities, Unrealized loss position	66,670		66,670
Non-Investment Grade | Bank Loans
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	60,200		60,200
Estimated fair value of debt securities, Unrealized loss position	54,700		54,700
Non-Investment Grade | High Yield Corporate Debt Securities
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	26,900		26,900
Estimated fair value of debt securities, Unrealized loss position	9,700		9,700
Non-Investment Grade | Emerging Market Securities
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	5,400		5,400
Estimated fair value of debt securities, Unrealized loss position	$ 2,300		$ 2,300

Debt and Equity Securities (Gro

Debt and Equity Securities (Gross Unrealized Losses on Investments in Debt Securities) (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value, Less than 12 months	$ 487,126	$ 971,604
Unrealized losses, Less than 12 months	(4,727)	(4,977)
Estimated fair value, 12 months or longer	235,993	691,542
Unrealized losses, 12 months or longer	(1,123)	(5,265)
Estimated fair value, Total	723,119	1,663,146
Unrealized losses, Total	(5,850)	(10,242)
U.S. Treasury bonds
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value, Less than 12 months	1,260	12,507
Unrealized losses, Less than 12 months	(26)	(350)
Estimated fair value, 12 months or longer	0	3,193
Unrealized losses, 12 months or longer	0	(3)
Estimated fair value, Total	1,260	15,700
Unrealized losses, Total	(26)	(353)
Municipal bonds
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value, Less than 12 months	22,657	29,333
Unrealized losses, Less than 12 months	(429)	(207)
Estimated fair value, 12 months or longer	701	2,827
Unrealized losses, 12 months or longer	(24)	(10)
Estimated fair value, Total	23,358	32,160
Unrealized losses, Total	(453)	(217)
Foreign government bonds
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value, Less than 12 months	44,398	112,167
Unrealized losses, Less than 12 months	(25)	(934)
Estimated fair value, 12 months or longer	0	11,001
Unrealized losses, 12 months or longer	0	(27)
Estimated fair value, Total	44,398	123,168
Unrealized losses, Total	(25)	(961)
Governmental agency mortgage-backed securities
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value, Less than 12 months	302,964	719,602
Unrealized losses, Less than 12 months	(737)	(2,785)
Estimated fair value, 12 months or longer	232,343	637,009
Unrealized losses, 12 months or longer	(866)	(4,522)
Estimated fair value, Total	535,307	1,356,611
Unrealized losses, Total	(1,603)	(7,307)
U.S. corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value, Less than 12 months	80,958	42,607
Unrealized losses, Less than 12 months	(2,595)	(451)
Estimated fair value, 12 months or longer	2,711	10,216
Unrealized losses, 12 months or longer	(215)	(521)
Estimated fair value, Total	83,669	52,823
Unrealized losses, Total	(2,810)	(972)
Foreign corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value, Less than 12 months	34,889	30,895
Unrealized losses, Less than 12 months	(915)	(108)
Estimated fair value, 12 months or longer	238	12,373
Unrealized losses, 12 months or longer	(18)	(105)
Estimated fair value, Total	35,127	43,268
Unrealized losses, Total	$ (933)	(213)
Governmental agency bonds
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value, Less than 12 months		24,493
Unrealized losses, Less than 12 months		(142)
Estimated fair value, 12 months or longer		14,923
Unrealized losses, 12 months or longer		(77)
Estimated fair value, Total		39,416
Unrealized losses, Total		$ (219)

Debt and Equity Securities (Rol

Debt and Equity Securities (Rollforward of Allowance for Credit Losses for Investments in Debt Securities ) (Detail) - USD ($) $ in Thousands		3 Months Ended	6 Months Ended
		Jun. 30, 2020	Jun. 30, 2020
Investments Debt And Equity Securities [Abstract]
Balance at beginning of period		$ (7,493)	$ 0	[1]
Credit losses recognized during the period			(7,493)
Net decreases to credit losses previously recognized		3,460	3,460
Reductions for securities sold		2,653	2,653
Balance at end of period	[1]	$ (1,380)	$ (1,380)
[1]	Reflects impairments resulting from credit-related factors, which are also included in net realized investment gains in the condensed consolidated statements of income for the three and six months ended June 30, 2020.

Debt and Equity Securities (I_2

Debt and Equity Securities (Investments in Debt Securities by Contractual Maturity) (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost	$ 5,714,833	$ 5,796,755
Debt securities, Estimated fair value	5,925,068	5,913,636
U.S. Treasury bonds
Schedule Of Available For Sale Securities [Line Items]
Amortized cost, Due in one year or less	41,815
Amortized cost, Due after one through five years	38,745
Amortized cost, Due after five through ten years	31,644
Amortized cost, Due after ten years	4,599
Debt Securities, Amortized cost	116,803	143,825
Estimated fair value, Due in one year or less	42,074
Estimated fair value, Due after one through five years	39,650
Estimated fair value, Due after five through ten years	31,953
Estimated fair value, Due after ten years	4,695
Debt securities, Estimated fair value	118,372	143,941
Municipal bonds
Schedule Of Available For Sale Securities [Line Items]
Amortized cost, Due in one year or less	59,526
Amortized cost, Due after one through five years	124,491
Amortized cost, Due after five through ten years	332,658
Amortized cost, Due after ten years	502,910
Debt Securities, Amortized cost	1,019,585	1,043,252
Estimated fair value, Due in one year or less	59,907
Estimated fair value, Due after one through five years	128,446
Estimated fair value, Due after five through ten years	356,731
Estimated fair value, Due after ten years	537,130
Debt securities, Estimated fair value	1,082,214	1,090,839
Foreign government bonds
Schedule Of Available For Sale Securities [Line Items]
Amortized cost, Due in one year or less	52,209
Amortized cost, Due after one through five years	45,589
Amortized cost, Due after five through ten years	56,838
Amortized cost, Due after ten years	13,916
Debt Securities, Amortized cost	168,552	179,554
Estimated fair value, Due in one year or less	52,228
Estimated fair value, Due after one through five years	47,349
Estimated fair value, Due after five through ten years	60,692
Estimated fair value, Due after ten years	14,775
Debt securities, Estimated fair value	175,044	180,090
Governmental agency bonds
Schedule Of Available For Sale Securities [Line Items]
Amortized cost, Due in one year or less	20,246
Amortized cost, Due after one through five years	49,447
Amortized cost, Due after five through ten years	126,215
Amortized cost, Due after ten years	53,106
Debt Securities, Amortized cost	249,014	316,318
Estimated fair value, Due in one year or less	20,452
Estimated fair value, Due after one through five years	52,030
Estimated fair value, Due after five through ten years	130,442
Estimated fair value, Due after ten years	58,506
Debt securities, Estimated fair value	261,430	321,919
U.S. corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Amortized cost, Due in one year or less	18,974
Amortized cost, Due after one through five years	312,493
Amortized cost, Due after five through ten years	164,216
Amortized cost, Due after ten years	68,583
Debt Securities, Amortized cost	564,266	535,878
Estimated fair value, Due in one year or less	19,027
Estimated fair value, Due after one through five years	329,303
Estimated fair value, Due after five through ten years	172,749
Estimated fair value, Due after ten years	73,745
Debt securities, Estimated fair value	594,824	553,372
Foreign corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Amortized cost, Due in one year or less	13,578
Amortized cost, Due after one through five years	198,490
Amortized cost, Due after five through ten years	78,441
Amortized cost, Due after ten years	28,547
Debt Securities, Amortized cost	319,056	335,962
Estimated fair value, Due in one year or less	13,649
Estimated fair value, Due after one through five years	205,759
Estimated fair value, Due after five through ten years	83,466
Estimated fair value, Due after ten years	30,414
Debt securities, Estimated fair value	333,288	$ 345,217
Debt Securities Excluding Mortgage Backed Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized cost, Due in one year or less	206,348
Amortized cost, Due after one through five years	769,255
Amortized cost, Due after five through ten years	790,012
Amortized cost, Due after ten years	671,661
Debt Securities, Amortized cost	2,437,276
Estimated fair value, Due in one year or less	207,337
Estimated fair value, Due after one through five years	802,537
Estimated fair value, Due after five through ten years	836,033
Estimated fair value, Due after ten years	719,265
Debt securities, Estimated fair value	2,565,172
Total Mortgage-Backed Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized cost	3,277,557
Estimated fair value	$ 3,359,896

Debt and Equity Securities (I_3

Debt and Equity Securities (Investments in Equity Securities) (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Debt And Equity Securities F V N I [Line Items]
Equity securities, Cost	$ 370,728	$ 349,959
Equity securities, Estimated fair value	386,356	392,318
Preferred stocks
Debt And Equity Securities F V N I [Line Items]
Equity securities, Cost	21,006	21,849
Equity securities, Estimated fair value	15,036	18,094
Common stocks
Debt And Equity Securities F V N I [Line Items]
Equity securities, Cost	349,722	328,110
Equity securities, Estimated fair value	$ 371,320	$ 374,224

Debt and Equity Securities (Com

Debt and Equity Securities (Composition of Investment Portfolio by Credit Rating Agencies) (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 5,925,068	$ 5,913,636
Equity securities, Estimated fair value	386,356	392,318
Estimated fair value, Total	$ 5,940,104
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	$ 118,372	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	$ 1,082,214	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	$ 175,044	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	$ 261,430	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	$ 3,359,896	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	$ 594,824	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	$ 333,288	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	$ 15,036	$ 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	$ 5,377,060
Estimated fair value, Total	$ 5,377,098
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	$ 454,759
Estimated fair value, Total	$ 468,873
Percentage of debt securities by credit rating agencies	7.70%
Percentage of investment portfolio by credit rating agencies	7.90%
Investment Grade | U.S. Treasury bonds | A- or Higher
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 118,372
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	$ 1,047,717
Percentage of debt securities by credit rating agencies	96.80%
Investment Grade | Municipal bonds | BBB+ to BBB-
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 33,780
Percentage of debt securities by credit rating agencies	3.10%
Investment Grade | Foreign government bonds | A- or Higher
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 159,198
Percentage of debt securities by credit rating agencies	90.90%
Investment Grade | Foreign government bonds | BBB+ to BBB-
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 13,082
Percentage of debt securities by credit rating agencies	7.50%
Investment Grade | Governmental agency bonds | A- or Higher
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 261,430
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	$ 3,359,896
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	$ 297,561
Percentage of debt securities by credit rating agencies	50.00%
Investment Grade | U.S. corporate debt securities | BBB+ to BBB-
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 232,509
Percentage of debt securities by credit rating agencies	39.10%
Investment Grade | Foreign corporate debt securities | A- or Higher
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 132,886
Percentage of debt securities by credit rating agencies	39.90%
Investment Grade | Foreign corporate debt securities | BBB+ to BBB-
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 175,388
Percentage of debt securities by credit rating agencies	52.60%
Investment Grade | Preferred stocks | A- or Higher
Schedule Of Debt and Equity Securities [Line Items]
Equity securities, Estimated fair value	$ 38
Percentage of equity securities by credit rating agencies	0.30%
Investment Grade | Preferred stocks | BBB+ to BBB-
Schedule Of Debt and Equity Securities [Line Items]
Equity securities, Estimated fair value	$ 14,114
Percentage of equity securities by credit rating agencies	93.80%
Non-Investment Grade
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 93,249
Estimated fair value, Total	$ 94,133
Percentage of debt securities by credit rating agencies	1.60%
Percentage of investment portfolio by credit rating agencies	1.60%
Non-Investment Grade | Municipal bonds
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 717
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	$ 2,764
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	$ 64,754
Percentage of debt securities by credit rating agencies	10.90%
Non-Investment Grade | Foreign corporate debt securities
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 25,014
Percentage of debt securities by credit rating agencies	7.50%
Non-Investment Grade | Preferred stocks
Schedule Of Debt and Equity Securities [Line Items]
Equity securities, Estimated fair value	$ 884
Percentage of equity securities by credit rating agencies	5.90%

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	Jun. 30, 2020	Dec. 31, 2019
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 723,119	$ 1,663,146
Percentage of debt securities in unrealized loss position	100.00%
U.S. Treasury bonds
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 1,260	15,700
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	$ 23,358	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	$ 44,398	123,168
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	$ 535,307	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	$ 83,669	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	$ 35,127	$ 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	$ 609,945
Percentage of debt securities in unrealized loss position	84.30%
Investment Grade | BBB+ to BBB-
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 46,504
Percentage of debt securities in unrealized loss position	6.50%
Investment Grade | U.S. Treasury bonds | A- or Higher
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 1,260
Percentage of debt securities in unrealized loss position	100.00%
Investment Grade | Municipal bonds | A- or Higher
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 16,828
Percentage of debt securities in unrealized loss position	72.00%
Investment Grade | Municipal bonds | BBB+ to BBB-
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 6,530
Percentage of debt securities in unrealized loss position	28.00%
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	$ 43,996
Percentage of debt securities in unrealized loss position	99.10%
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	$ 535,307
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	$ 10,128
Percentage of debt securities in unrealized loss position	12.10%
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	$ 22,788
Percentage of debt securities in unrealized loss position	27.20%
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	$ 2,426
Percentage of debt securities in unrealized loss position	6.90%
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	$ 17,186
Percentage of debt securities in unrealized loss position	48.90%
Non-Investment Grade
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 66,670
Percentage of debt securities in unrealized loss position	9.20%
Non-Investment Grade | Foreign government bonds
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 402
Percentage of debt securities in unrealized loss position	0.90%
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	$ 50,753
Percentage of debt securities in unrealized loss position	60.70%
Non-Investment Grade | Foreign corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 15,515
Percentage of debt securities in unrealized loss position	44.20%

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) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020
Receivables [Abstract]
Balance at beginning of period	$ 11,576	$ 12,676
Provision for expected credit losses	2,018	3,021
Write-offs, net of recoveries	(1,422)	(3,525)
Balance at end of period	$ 12,172	$ 12,172

Credit Losses - Financial Ass_4

Credit Losses - Financial Assets and Off - Balance Sheet Credit Exposures - Additional Information (Details) $ in Millions	Jun. 30, 2020USD ($)
Receivables [Abstract]
Accrued interest receivable	$ 2.4

Goodwill (Carrying Amount of Go

Goodwill (Carrying Amount of Goodwill by Reportable Segment) (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
Goodwill [Line Items]
Balance at December 31, 2019	$ 1,150,908
Acquisitions	241,016
Dispositions	(358)
Foreign currency translation	(2,980)
Balance at June 30, 2020	1,388,586
Title Insurance and Services
Goodwill [Line Items]
Balance at December 31, 2019	1,104,143
Acquisitions	241,016
Dispositions	(358)
Foreign currency translation	(2,980)
Balance at June 30, 2020	1,341,821
Specialty Insurance
Goodwill [Line Items]
Balance at December 31, 2019	46,765
Acquisitions	0
Dispositions	0
Foreign currency translation	0
Balance at June 30, 2020	$ 46,765

Goodwill (Narrative) (Detail)

Goodwill (Narrative) (Detail)	6 Months Ended
	Jun. 30, 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	Jun. 30, 2020	Dec. 31, 2019
Intangible Assets Net Excluding Goodwill [Abstract]
Customer relationships	$ 178,150	$ 99,905
Noncompete agreements	38,430	13,150
Trademarks	23,334	10,520
Internal-use software licenses	19,865	21,982
Patents	2,840	2,840
Finite-lived intangible assets, gross	262,619	148,397
Accumulated amortization	(76,175)	(73,449)
Finite-lived intangible assets, net	186,444	74,948
Licenses	16,885	16,885
Other intangibles assets, net	$ 203,329	$ 91,833

Other Intangible Assets (Narrat

Other Intangible Assets (Narrative) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Intangible Assets Net Excluding Goodwill [Abstract]
Amortization expense	$ 13.6	$ 7.3	$ 19.9	$ 15.3

Other Intangible Assets (Estima

Other Intangible Assets (Estimated Amortization Expense for Finite-Lived Intangible Assets) (Detail) $ in Thousands	Jun. 30, 2020USD ($)
Intangible Assets Net Excluding Goodwill [Abstract]
Remainder of 2020	$ 20,997
2021	34,311
2022	32,796
2023	29,903
2024	23,775
2025	$ 17,656

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		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 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			225,921	194,000
Provision related to prior years			30,244	12,842
Total Provision	$ 138,688	$ 109,130	256,165	206,842
Payments, net of recoveries, related to: Current year			87,928	85,811
Payments, net of recoveries, related to: Prior years			126,666	114,084
Total Payments, net of recoveries			214,594	199,895
Other			(9,121)	(7,418)
Balance at end of period	$ 1,095,494	$ 1,042,208	$ 1,095,494	$ 1,042,208

Reserve for Known and Incurre_4

Reserve for Known and Incurred but Not Reported Claims (Narrative) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Insurance [Abstract]
Provision for title loss, percentage of title premiums and escrow fees	5.00%	4.00%	5.00%	4.00%
Ultimate loss rate			4.50%	4.00%	4.00%
Estimated increase in loss reserve for prior policy years			$ 5.6	$ 0
Decrease in Company’s incurred title claims	26.10%		16.50%

Reserve for Known and Incurre_5

Reserve for Known and Incurred but Not Reported Claims (Summary of Loss Reserves) (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
Insurance [Abstract]
Known title claims, amount	$ 70,866	$ 83,382
Incurred but not reported claims, amount	943,512	903,994
Total title claims, amount	1,014,378	987,376
Non-title claims, amount	81,116	75,668
Total loss reserves, amount	$ 1,095,494	$ 1,063,044	$ 1,042,208	$ 1,042,679
Known title claims, percent	6.50%	7.80%
Incurred but not reported claims, percent	86.10%	85.10%
Total title claims, percent	92.60%	92.90%
Non-title claims, percent	7.40%	7.10%
Total loss reserves, percent	100.00%	100.00%

Notes and Contracts Payable (Na

Notes and Contracts Payable (Narrative) (Detail) - USD ($) $ in Thousands	1 Months Ended
	May 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Notes and contracts payable		$ 1,010,623	$ 728,232
4.00% 10 Year Senior Unsecured Note Due in 2030
Debt Instrument [Line Items]
Notes and contracts payable	$ 450,000
Debt instrument stated interest rate	4.00%
Term of debt instrument	10 years
Senior unsecured notes maturity year	2030
Interest due, periodic	semi-annually
Due date of interest to be paid semi-annually, beginning	Nov. 15, 2020
Maximum borrowing limit	$ 700,000

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Effective income tax rates	23.80%	18.40%	20.90%	20.00%
Federal income tax rates			21.00%
Liability for income taxes associated with uncertain tax positions	$ 6,800		$ 6,800		$ 1,500
Offsetting tax benefits related to uncertain tax positions	$ 1,900		1,900		400
Other tax benefits related to interest and penalties of uncertain tax positions			$ 0		$ 0
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		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Net income attributable to the Company	$ 170,655	$ 186,655	$ 233,859	$ 296,230
Basic weighted-average shares	112,309	113,050	112,939	112,881
Effect of dilutive employee stock options and restricted stock units (“RSUs”)	246	448	331	485
Diluted weighted-average shares	112,555	113,498	113,270	113,366
Basic	$ 1.52	$ 1.65	$ 2.07	$ 2.62
Diluted	$ 1.52	$ 1.64	$ 2.06	$ 2.61

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Detail) - shares shares in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020
RSUs
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from the weighted-average diluted common shares outstanding	410	299
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	0

Employee Benefit Plans (Net Per

Employee Benefit Plans (Net Periodic Cost) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Defined Benefit Plan Net Periodic Benefit Cost [Abstract]
Service costs	$ 45	$ 71	$ 90	$ 141
Interest costs	1,781	2,279	3,562	4,558
Amortization of net actuarial loss	1,320	915	2,640	1,830
Amortization of prior service credit	(777)	(1,017)	(1,554)	(2,035)
Net periodic costs	$ 2,369	$ 2,248	$ 4,738	$ 4,494

Employee Benefit Plans (Narrati

Employee Benefit Plans (Narrative) (Detail) - Unfunded Supplemental Benefit Plans $ in Millions	6 Months Ended
	Jun. 30, 2020USD ($)
Defined Benefit Plan Disclosure [Line Items]
Contribution for pension obligation	$ 7.2
Cash contribution to plans during the remainder	$ 8.2

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value of Assets Measured on Recurring Basis) (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	$ 5,925,068	$ 5,913,636
Equity securities, estimated fair value	386,356	392,318
Debt and Equity securities, estimated fair value	6,311,424	6,305,954
U.S. Treasury bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	118,372	143,941
Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	1,082,214	1,090,839
Foreign government bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	175,044	180,090
Governmental agency bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	261,430	321,919
Governmental agency mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	3,359,896	3,278,258
U.S. corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	594,824	553,372
Foreign corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	333,288	345,217
Preferred stocks
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Equity securities, estimated fair value	15,036	18,094
Common Stock
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Equity securities, estimated fair value	371,320	374,224
Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Equity securities, estimated fair value	386,356	392,318
Debt and Equity securities, estimated fair value	386,356	392,318
Level 1 | U.S. Treasury bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Level 1 | Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Level 1 | Foreign government bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Level 1 | Governmental agency bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Level 1 | Governmental agency mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Level 1 | U.S. corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Level 1 | Foreign corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Level 1 | Preferred stocks
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Equity securities, estimated fair value	15,036	18,094
Level 1 | Common Stock
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Equity securities, estimated fair value	371,320	374,224
Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	5,925,068	5,913,636
Equity securities, estimated fair value	0	0
Debt and Equity securities, estimated fair value	5,925,068	5,913,636
Level 2 | U.S. Treasury bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	118,372	143,941
Level 2 | Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	1,082,214	1,090,839
Level 2 | Foreign government bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	175,044	180,090
Level 2 | Governmental agency bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	261,430	321,919
Level 2 | Governmental agency mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	3,359,896	3,278,258
Level 2 | U.S. corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	594,824	553,372
Level 2 | Foreign corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	333,288	345,217
Level 2 | Preferred stocks
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Equity securities, estimated fair value	0	0
Level 2 | Common Stock
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Equity securities, estimated fair value	0	0
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
Level 3 | U.S. Treasury bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Level 3 | Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Level 3 | Foreign government bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Level 3 | Governmental agency bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Level 3 | Governmental agency mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Level 3 | U.S. corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Level 3 | Foreign corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Level 3 | Preferred stocks
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Equity securities, estimated fair value	0	0
Level 3 | Common Stock
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 ($)	Jun. 30, 2020	Dec. 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	Jun. 30, 2020	Dec. 31, 2019
Carrying Amount
Assets:
Cash and cash equivalents	$ 1,523,344	$ 1,485,959
Deposits with banks	39,311	44,422
Notes receivable, net	22,125	18,970
Secured financings receivable	579,596	287,459
Liabilities:
Secured financings payable	478,598	278,412
Notes and contracts payable	1,010,623	728,232
Estimated Fair Value
Assets:
Cash and cash equivalents	1,523,344	1,485,959
Deposits with banks	39,480	44,339
Notes receivable, net	21,081	19,422
Secured financings receivable	579,596	287,459
Liabilities:
Secured financings payable	478,598	278,412
Notes and contracts payable	1,100,750	761,224
Estimated Fair Value | Level 1
Assets:
Cash and cash equivalents	1,523,344	1,485,959
Deposits with banks	2,609	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	36,871	40,265
Notes receivable, net	0	0
Secured financings receivable	579,596	287,459
Liabilities:
Secured financings payable	478,598	278,412
Notes and contracts payable	1,095,746	756,306
Estimated Fair Value | Level 3
Assets:
Cash and cash equivalents	0	0
Deposits with banks	0	0
Notes receivable, net	21,081	19,422
Secured financings receivable	0	0
Liabilities:
Secured financings payable	0	0
Notes and contracts payable	$ 5,004	$ 4,918

Share-Based Compensation (Costs

Share-Based Compensation (Costs Associated with Share-Based Compensation Plans) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation	$ 9,693	$ 7,758	$ 35,596	$ 27,355
RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation	8,056	6,805	32,714	25,153
Employee stock purchase plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation	$ 1,637	$ 953	$ 2,882	$ 2,202

Share-Based Compensation (Summa

Share-Based Compensation (Summary of RSU Activity) (Detail) - RSUs shares in Thousands	6 Months Ended
	Jun. 30, 2020$ / sharesshares
RSU, Shares
Unvested at December 31, 2019 | shares	1,152
Granted during 2020 | shares	740
Vested during 2020 | shares	(817)
Forfeited during 2020 | shares	(13)
Unvested at June 30, 2020 | shares	1,062
RSU, Weighted-average grant-date fair value
Unvested at December 31, 2019 | $ / shares	$ 49.25
Granted during 2020 | $ / shares	64.26
Vested during 2020 | $ / shares	52.49
Forfeited during 2020 | $ / shares	55.90
Unvested at June 30, 2020 | $ / shares	$ 57.14

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Detail) shares in Thousands, $ in Millions	3 Months Ended	6 Months Ended	112 Months Ended
	Jun. 30, 2020USD ($)shares	Jun. 30, 2020USD ($)shares	Jun. 30, 2020USD ($)shares
Remaining authorized amount under stock repurchase program	$ 92.7	$ 92.7	$ 92.7
Common stock repurchased, shares | shares	71	1,800	5,400
Purchase of Company, value	$ 3.1	$ 68.9	$ 157.3
Maximum
Stock repurchase program, authorized amount	$ 250	$ 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		6 Months Ended
		Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 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				94,539
Change in unrealized gains (losses) on debt securities for which credit-related portion was recognized in earnings				195
Change in foreign currency translation adjustment				(20,315)
Amortization of net actuarial loss				2,640
Amortization of prior service credit				(1,554)
Tax effect		$ (18,132)	$ (16,777)	(22,657)	$ (35,329)
Accumulated other comprehensive income (loss), net of tax, Ending Balance		11,356		11,356
Stockholders equity attributable to noncontrolling interest, Ending Balance		10,211		10,211
Accumulated other comprehensive income (loss) including non-controlling interest, Ending Balance		11,357		11,357
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				94,539
Change in unrealized gains (losses) on debt securities for which credit-related portion was recognized in earnings				195
Tax effect				(23,501)
Accumulated other comprehensive income (loss), debt securities, available-for-sale, adjustment, after tax, Ending Balance		154,350		154,350
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				(20,315)
Tax effect				1,132
Accumulated other comprehensive income (loss), foreign currency translation adjustment, net of tax, Ending Balance		(70,851)		(70,851)
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]	1,320	915	2,640	1,830
Amortization of prior service credit	[1]	(777)	$ (1,017)	(1,554)	$ (2,035)
Tax effect				(288)
Accumulated other comprehensive (income) Loss, defined benefit plan, after Tax, Ending Balance		(72,143)		(72,143)
Accumulated Other Comprehensive Income (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				94,539
Change in unrealized gains (losses) on debt securities for which credit-related portion was recognized in earnings				195
Change in foreign currency translation adjustment				(20,315)
Amortization of net actuarial loss				2,640
Amortization of prior service credit				(1,554)
Tax effect				(22,657)
Accumulated other comprehensive income (loss), net of tax, Ending Balance		11,356		11,356
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		$ 1
[1]	These components of AOCI are components of net periodic cost.  See Note 11 Employee Benefit Plans for additional details

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) (Other Comprehensive Income (Loss) Reclassification Adjustments) (Detail) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Accumulated Other Comprehensive Income Loss [Line Items]
Pretax change before reclassifications	$ 92,260		$ 73,176		$ 72,967	$ 158,107
Reclassifications out of AOCI	(827)		144		2,538	82
Tax effect	(18,132)		(16,777)		(22,657)	(35,329)
Total other comprehensive income, net of tax	73,301	$ (20,453)	56,543	$ 66,317	52,848	122,860
Unrealized Gains (Losses) on Debt Securities
Accumulated Other Comprehensive Income Loss [Line Items]
Pretax change before reclassifications	77,887		69,582		93,282	147,347
Reclassifications out of AOCI	(1,370)		246		1,452	287
Tax effect	(17,988)		(16,654)		(23,501)	(34,955)
Total other comprehensive income, net of tax	58,529		53,174		71,233	112,679
Foreign Currency Translation Adjustment
Accumulated Other Comprehensive Income Loss [Line Items]
Pretax change before reclassifications	14,373		3,594		(20,315)	10,760
Reclassifications out of AOCI	0		0		0	0
Tax effect	0		(150)		1,132	(428)
Total other comprehensive income, net of tax	14,373		3,444		(19,183)	10,332
Pension Benefit Adjustment
Accumulated Other Comprehensive Income Loss [Line Items]
Pretax change before reclassifications	0		0		0	0
Reclassifications out of AOCI	543		(102)		1,086	(205)
Tax effect	(144)		27		(288)	54
Total other comprehensive income, net of tax	$ 399		$ (75)		$ 798	$ (151)

Accumulated Other Comprehensi_5

Accumulated Other Comprehensive Income (Loss) (Reclassifications Out of AOCI) (Detail) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Credit losses recognized on debt securities				$ (195)
Pretax total		$ 827	$ (144)	(2,538)	$ (82)
Amortization of net actuarial loss				(2,640)
Amortization of prior service credit				1,554
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		1,384	(246)	6,055	(287)
Credit losses recognized on debt securities		(14)		(7,507)
Pretax total		1,370	(246)	(1,452)	(287)
Tax effect		(322)	58	360	68
Pension Benefit Adjustment Attributable to First American Financial Corporation
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Pretax total	[1]	(543)	102	(1,086)	205
Tax effect	[1]	144	(27)	288	(54)
Amortization of net actuarial loss	[1]	(1,320)	(915)	(2,640)	(1,830)
Amortization of prior service credit	[1]	$ 777	$ 1,017	$ 1,554	$ 2,035
[1]	These components of AOCI are components of net periodic cost.  See Note 11 Employee Benefit Plans for additional details

Litigation and Regulatory Con_2

Litigation and Regulatory Contingencies (Narrative) (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2020USD ($)
Canadian Taxing Authority
Loss Contingencies [Line Items]
Income tax authority assessment	$ 14.4

Business Combinations (Narrativ

Business Combinations (Narrative) (Detail) - USD ($) $ in Thousands	Mar. 02, 2020	Jun. 30, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Business acquisition cost		$ 391,900
Operating cash and additional borrowings under credit facility		120,000
Goodwill		1,388,586	$ 1,150,908
eClose and Fulfillment Technology
Business Acquisition [Line Items]
Business acquisition cost	$ 350,000
Goodwill		202,700
Preliminary estimates recorded for property and equipment		19,000
Preliminary estimates recorded for other intangible assets		$ 121,000

Segment Information (Narrative)

Segment Information (Narrative) (Detail)	6 Months Ended
	Jun. 30, 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		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting Information [Line Items]
Revenues	$ 1,608,729	$ 1,498,620	$ 3,021,672	$ 2,802,201
Income (loss) before income taxes	225,295	229,497	297,619	371,167
Depreciation and amortization	40,976	32,884	72,425	65,818
Capital expenditures	28,099	26,166	59,323	54,142
Direct premiums and escrow fees	651,984	668,018	1,272,621	1,182,220
Agent premiums	597,895	543,847	1,197,577	1,045,384
Information and other	231,169	200,669	442,681	373,561
Net investment income	58,420	77,711	104,294	159,979
Net realized investment gains (losses)	69,261	8,375	4,499	41,057
Operating Segments
Segment Reporting Information [Line Items]
Revenues	1,596,457	1,494,842	3,019,051	2,789,205
Direct premiums and escrow fees	651,984	668,018	1,272,621	1,182,220
Agent premiums	597,895	543,847	1,197,577	1,045,384
Information and other	231,355	200,932	443,067	374,089
Net investment income	45,550	73,670	107,802	146,455
Net realized investment gains (losses)	69,673	8,375	(2,016)	41,057
Operating Segments | Title Insurance and Services
Segment Reporting Information [Line Items]
Revenues	1,462,939	1,371,874	2,763,564	2,544,056
Income (loss) before income taxes	237,802	232,813	310,778	374,820
Depreciation and amortization	38,995	31,061	68,512	62,223
Capital expenditures	24,999	23,491	53,422	48,970
Direct premiums and escrow fees	530,735	552,358	1,032,036	955,114
Agent premiums	597,895	543,847	1,197,577	1,045,384
Information and other	228,252	197,779	436,525	367,870
Net investment income	43,234	70,970	102,902	141,023
Net realized investment gains (losses)	62,823	6,920	(5,476)	34,665
Operating Segments | Specialty Insurance
Segment Reporting Information [Line Items]
Revenues	133,518	122,968	255,487	245,149
Income (loss) before income taxes	7,319	15,740	20,177	33,525
Depreciation and amortization	1,943	1,785	3,837	3,519
Capital expenditures	3,100	2,675	5,901	5,172
Direct premiums and escrow fees	121,249	115,660	240,585	227,106
Agent premiums	0	0	0	0
Information and other	3,103	3,153	6,542	6,219
Net investment income	2,316	2,700	4,900	5,432
Net realized investment gains (losses)	6,850	1,455	3,460	6,392
Corporate
Segment Reporting Information [Line Items]
Revenues	12,516	4,127	3,205	13,686
Income (loss) before income taxes	(19,826)	(19,056)	(33,336)	(37,178)
Depreciation and amortization	38	38	76	76
Capital expenditures	0	0	0	0
Eliminations
Segment Reporting Information [Line Items]
Revenues	(244)	(349)	(584)	(690)
Income (loss) before income taxes	0	0	0	0
Depreciation and amortization	0	0	0	0
Capital expenditures	$ 0	$ 0	$ 0	$ 0