First American Financial (FAF) 10-Q 22 Oct 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Oct. 19, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Trading Symbol	FAF
Entity Registrant Name	FIRST AMERICAN FINANCIAL CORPORATION
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		111,645,048
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	Sep. 30, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents	$ 1,512,369	$ 1,485,959
Accounts and accrued income receivable, less allowances of $12,600 and $12,676	392,885	324,385
Income taxes receivable	8,814	10,967
Investments:
Deposits with banks	41,551	44,422
Debt securities, includes pledged securities of $88,049 and $91,636 (amortized cost of $5,732,761 and $5,796,755; allowance for credit losses of $821 at September 30, 2020)	5,939,224	5,913,636
Equity securities	393,180	392,318
Other investments	325,652	239,067
Investments, Total	6,699,607	6,589,443
Secured financings receivable	722,156	287,459
Property and equipment, net	442,409	442,014
Operating lease assets	272,367	291,385
Title plants and other indexes	580,462	579,674
Deferred income taxes	18,283	18,283
Goodwill	1,355,289	1,150,908
Other intangible assets, net	196,691	91,833
Assets held for sale	198,283
Other assets	239,195	246,857
Total assets	12,638,810	11,519,167
Liabilities and Equity
Deposits	3,499,640	3,337,431
Accounts payable and accrued liabilities	830,050	820,356
Deferred revenue	202,291	252,331
Reserve for known and incurred but not reported claims	1,069,859	1,063,044
Income taxes payable	47,817	25,475
Deferred income taxes	266,108	266,108
Operating lease liabilities	301,525	322,776
Liabilities held for sale	148,283
Secured financings payable	526,544	278,412
Notes and contracts payable	1,011,758	728,232
Total liabilities	7,903,875	7,094,165
Commitments and contingencies (Note 17)
Stockholders’ equity:
Preferred stock, $0.00001 par value; Authorized—500 shares; Outstanding—none	0	0
Common stock, $0.00001 par value; Authorized—300,000 shares; Outstanding—111,645 shares and 112,476 shares	1	1
Additional paid-in capital	2,273,007	2,300,926
Retained earnings	2,426,949	2,161,049
Accumulated other comprehensive income (loss)	23,813	(41,492)
Total stockholders’ equity	4,723,770	4,420,484
Noncontrolling interests	11,165	4,518
Total equity	4,734,935	4,425,002
Total liabilities and equity	$ 12,638,810	$ 11,519,167

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) shares in Thousands, $ in Thousands		Sep. 30, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Accounts and accrued income receivable, allowances		$ 12,600	$ 12,676
Debt securities, amortized cost		5,732,761	5,796,755
Debt securities, allowance for credit losses	[1]	821	0
Pledged securities included in debt securities		$ 88,049	$ 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		111,645	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 nine months ended September 30, 2020.

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues
Direct premiums and escrow fees	$ 807,947	$ 728,610	$ 2,080,568	$ 1,910,830
Agent premiums	722,434	656,154	1,920,011	1,701,538
Information and other	285,882	208,297	728,563	581,858
Net investment income	52,466	76,628	156,760	236,607
Net realized investment gains	44,992	1,507	49,491	42,564
Total revenues	1,913,721	1,671,196	4,935,393	4,473,397
Expenses
Personnel costs	511,298	470,683	1,392,445	1,329,322
Premiums retained by agents	572,780	518,824	1,520,559	1,344,517
Other operating expenses	281,079	248,252	788,407	667,047
Provision for policy losses and other claims	157,836	124,683	414,001	331,525
Depreciation and amortization	38,227	31,719	110,652	97,537
Impairments on assets held for sale (Note 2)	73,264	0	73,264	0
Premium taxes	19,885	19,484	53,554	50,887
Interest	15,981	12,213	41,521	36,057
Total expenses	1,670,350	1,425,858	4,394,403	3,856,892
Income before income taxes	243,371	245,338	540,990	616,505
Income taxes	59,780	57,171	121,859	131,263
Net income	183,591	188,167	419,131	485,242
Less: Net income attributable to noncontrolling interests	1,312	985	2,993	1,830
Net income attributable to the Company	$ 182,279	$ 187,182	$ 416,138	$ 483,412
Net income per share attributable to the Company's stockholders (Note 11):
Basic	$ 1.62	$ 1.65	$ 3.69	$ 4.28
Diluted	1.62	1.65	3.68	4.26
Cash dividends declared per share	$ 0.44	$ 0.42	$ 1.32	$ 1.26
Weighted-average common shares outstanding (Note 11):
Basic	112,584	113,163	112,913	112,983
Diluted	112,843	113,741	113,176	113,509

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 183,591	$ 188,167	$ 419,131	$ 485,242
Other comprehensive income (loss), net of tax:
Unrealized gains on debt securities	1,991	13,493	73,077	126,172
Unrealized (losses) gains on debt securities for which credit-related portion was recognized in earnings	(7)	0	140	0
Foreign currency translation adjustment	10,074	(7,373)	(9,109)	2,959
Pension benefit adjustment	399	(76)	1,197	(227)
Total other comprehensive income, net of tax	12,457	6,044	65,305	128,904
Comprehensive income	196,048	194,211	484,436	614,146
Less: Comprehensive income attributable to noncontrolling interests	1,312	985	2,993	1,829
Comprehensive income attributable to the Company	$ 194,736	$ 193,226	$ 481,443	$ 612,317

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	485,242
Other comprehensive income (loss)	128,904
Balance, Value at Sep. 30, 2019	4,246,222	$ 1	2,288,737	1,985,073	(31,670)	4,242,141	4,081
Balance, Shares at Sep. 30, 2019		112,336
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
Net income	188,167	$ 0	0	187,182	0	187,182	985
Dividends on common shares	(47,139)	0	0	(47,139)	0	(47,139)	0
Shares issued in connection with share-based compensation	3,631	$ 0	4,466	(835)	0	3,631	0
Shares issued in connection with share-based compensation, shares		119
Share-based compensation	7,556	$ 0	7,556	0	0	7,556	0
Net activity related to noncontrolling interests	(71)	0	(22)	0	0	(22)	(49)
Other comprehensive income (loss)	6,044	0	0	0	6,044	6,044	0
Balance, Value at Sep. 30, 2019	4,246,222	$ 1	2,288,737	1,985,073	(31,670)	4,242,141	4,081
Balance, Shares at Sep. 30, 2019		112,336
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	$ 419,131
Other comprehensive income (loss)	65,305
Balance, Value at Sep. 30, 2020	$ 4,734,935	$ 1	2,273,007	2,426,949	23,813	4,723,770	11,165
Balance, Shares at Sep. 30, 2020	111,645	111,645
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
Net income	183,591	$ 0	0	182,279	0	182,279	1,312
Dividends on common shares	(49,070)	0	0	(49,070)	0	(49,070)	0
Shares issued in connection with share-based compensation	4,300	$ 0	5,112	(812)	0	4,300	0
Shares issued in connection with share-based compensation, shares		126
Share-based compensation	8,404	$ 0	8,404	0	0	8,404	0
Net activity related to noncontrolling interests	(358)	0	0	0	0	0	(358)
Other comprehensive income (loss)	12,457	0	0	0	12,457	12,457	0
Balance, Value at Sep. 30, 2020	$ 4,734,935	$ 1	$ 2,273,007	$ 2,426,949	$ 23,813	$ 4,723,770	$ 11,165
Balance, Shares at Sep. 30, 2020	111,645	111,645

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities:
Net income	$ 419,131	$ 485,242
Adjustments to reconcile net income to cash provided by operating activities:
Provision for policy losses and other claims	414,001	331,525
Depreciation and amortization	110,652	97,537
Impairments on assets held for sale	73,264	0
Amortization of premiums and accretion of discounts on debt securities, net	28,678	18,646
Net realized investment gains	(49,491)	(42,564)
Share-based compensation	44,000	34,911
Equity in earnings of equity method investments, net	(3,556)	(1,802)
Dividends from equity method investments	4,383	4,077
Changes in assets and liabilities excluding effects of acquisitions and noncash transactions:
Claims paid, including assets acquired, net of recoveries	(342,721)	(305,174)
Net change in income tax accounts	(47)	17,523
Increase in accounts and accrued income receivable	(72,670)	(52,757)
Increase in accounts payable and accrued liabilities	32,030	10,686
Increase in deferred revenue	21,668	19,484
Other, net	1,723	(5,653)
Cash provided by operating activities	681,045	611,681
Cash flows from investing activities:
Net cash effect of acquisitions/dispositions	(387,024)	(19,674)
Net decrease (increase) in deposits with banks	1,859	(3,749)
Purchases of debt and equity securities	(2,073,802)	(1,611,934)
Proceeds from sales of debt and equity securities	784,750	979,019
Proceeds from maturities of debt securities	1,157,725	666,749
Investments in unconsolidated entities	(57,966)	(77,000)
Net change in other investments	(8,960)	(4,707)
Advances under secured financing agreements	(11,619,818)	(5,311,828)
Collections of secured financings receivable	11,185,121	5,036,122
Capital expenditures	(91,601)	(78,158)
Proceeds from sales of property and equipment	13,951	105
Proceeds from insurance settlement	123	0
Cash used for investing activities	(1,095,642)	(425,055)
Cash flows from financing activities:
Net change in deposits	162,209	54,545
Borrowings under secured financing agreements	10,964,792	5,195,063
Repayments of secured financings payable	(10,716,660)	(5,037,893)
Net proceeds from issuance of unsecured senior notes	443,936	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	(4,228)	(4,280)
Net activity related to noncontrolling interests	(2,090)	(1,112)
Net payments in connection with share-based compensation	(5,597)	(4,859)
Repurchases of Company shares	(68,864)	(2,066)
Payments of cash dividends	(147,768)	(141,244)
Cash provided by financing activities	465,730	58,154
Effect of exchange rate changes on cash	(3,122)	(910)
Net increase in cash and cash equivalents	48,011	243,870
Cash and cash equivalents—Beginning of period	1,485,959	1,467,129
Reclassification to assets held for sale	(21,601)	0
Cash and cash equivalents—End of period	1,512,369	1,710,999
Supplemental information:
Interest	30,034	34,053
Premium taxes	59,523	55,229
Income taxes, less refunds of $3,168 and $930	$ 122,086	$ 113,723

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Statement Of Cash Flows [Abstract]
Income taxes, refunds	$ 3,168	$ 930

Basis of Condensed Consolidated

Basis of Condensed Consolidated Financial Statements	9 Months Ended
	Sep. 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 on a modified-retrospective basis , effective January 1, 2020, did not have a material impact, except for the disclosure requirements, on the Company’s condensed consolidated financial statements . See Note 4 Debt and Equity Securities and Note 5 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.

Disposition of the Property and

Disposition of the Property and Casualty Insurance Business	9 Months Ended
	Sep. 30, 2020
Discontinued Operations And Disposal Groups [Abstract]
Disposition of the Property and Casualty Insurance Business	Note 2 – Disposition of the Property and Casualty Insurance Business In the third quarter of 2020, the Company committed to a plan to sell its property and casualty insurance business, which is expected to be completed within one year. As a result of this decision, the Company remeasured the assets and liabilities of its property and casualty insurance business at estimated fair value, less costs to sell, and recorded pretax impairment losses to goodwill, other intangible assets, property and equipment and other assets totaling $73.3 million for the three and nine months ended September 30, 2020. In addition, the assets and liabilities of the property and casualty insurance business have been reclassified as held for sale on the Company’s condensed consolidated balance sheet at September 30, 2020. The impairment losses are included in impairments on assets held for sale on the condensed consolidated statements of income and in the operating results of the specialty insurance segment. The major classes of assets and liabilities classified as held for sale, as of September 30, 2020, are summarized as follows: (in thousands) September 30, 2020 Assets held for sale Cash and cash equivalents $ 21,601 Accounts and accrued income receivable 11,308 Debt and equity securities 162,803 Other assets 20,900 Assets held for sale 216,612 Less: Loss accrual (18,329 ) Total assets held for sale $ 198,283 Liabilities held for sale Accounts payable and accrued liabilities $ 14,924 Deferred revenue 72,655 Reserve for known and incurred but not reported claims 60,583 Other liabilities 121 Total liabilities held for sale $ 148,283

Escrow Deposits, Like-Kind Exch

Escrow Deposits, Like-Kind Exchange Deposits and Trust Assets	9 Months Ended
	Sep. 30, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Escrow Deposits, Like-Kind Exchange Deposits and Trust Assets	Note 3 – 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 $7.9 billion and $7.3 billion at September 30, 2020 and December 31, 2019, respectively, of which $3.3 billion and $3.2 billion, respectively, were held at First American Trust, FSB. The escrow deposits held at First American Trust, FSB are temporarily invested in cash and cash equivalents and debt securities, with offsetting liabilities included in deposits in the accompanying condensed consolidated balance sheets. The remaining escrow deposits were held at third-party financial institutions. Trust assets held or managed by First American Trust, FSB totaled $4.3 billion and $4.2 billion at September 30, 2020 and December 31, 2019, respectively. Escrow deposits held at third-party financial institutions and trust assets are not considered assets of the Company and, therefore, are not included in the accompanying condensed consolidated balance sheets. All such amounts are placed in deposit accounts insured, up to applicable limits, by the Federal Deposit Insurance Corporation. The Company could be held contingently liable for the disposition of these assets. In conducting its operations, the Company often holds customers’ assets in escrow, pending completion of real estate transactions and, as a result, the Company has ongoing programs for realizing economic benefits with various financial institutions. The results from these programs are included as income or a reduction in expense, as appropriate, in the condensed consolidated statements of income based on the nature of the arrangement and benefit received. The Company facilitates tax-deferred property exchanges for customers pursuant to Section 1031 of the Internal Revenue Code and tax-deferred reverse exchanges pursuant to Revenue Procedure 2000-37. As a facilitator and intermediary, the Company holds the proceeds from sales transactions and takes temporary title to property identified by the customer to be acquired with such proceeds. Upon the completion of each such exchange, the identified property is transferred to the customer or, if the exchange does not take place, an amount equal to the sales proceeds or, in the case of a reverse exchange, title to the property held by the Company is transferred to the customer. Like-kind exchange funds held by the Company totaled $2.0 billion and $3.0 billion at September 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	9 Months Ended
	Sep. 30, 2020
Investments Debt And Equity Securities [Abstract]
Debt and Equity Securities	Note 4 – 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 September 30, 2020 U.S. Treasury bonds $ 111,183 $ — $ 890 $ (1 ) $ 112,072 Municipal bonds 1,036,502 — 67,396 (1,115 ) 1,102,783 Foreign government bonds 181,885 (111 ) 5,425 (215 ) 186,984 Governmental agency bonds 255,359 — 11,663 (170 ) 266,852 Governmental agency mortgage-backed securities 3,272,439 — 76,010 (2,112 ) 3,346,337 U.S. corporate debt securities 533,446 (496 ) 35,153 (1,428 ) 566,675 Foreign corporate debt securities 341,947 (214 ) 16,993 (1,205 ) 357,521 $ 5,732,761 $ (821 ) $ 213,530 $ (6,246 ) $ 5,939,224 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 nine months ended September 30, 2020. Sales of debt securities resulted in realized gains of $7.1 million and $16.4 million, realized losses of $0.4 million and $3.4 million, and proceeds of $200.1 million and $694.6 million for the three and nine months ended September 30, 2020, respectively, and realized gains of $3.3 million and $8.2 million, realized losses of $0.5 million and $5.2 million, and proceeds of $229.4 million and $852.1 million for the three and nine months ended September 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 September 30, 2020 U.S. Treasury bonds $ 56,635 $ (1 ) $ — $ — $ 56,635 $ (1 ) Municipal bonds 91,375 (1,115 ) — — 91,375 (1,115 ) Foreign government bonds 68,562 (215 ) — — 68,562 (215 ) Governmental agency bonds 12,372 (170 ) — — 12,372 (170 ) Governmental agency mortgage-backed securities 257,038 (1,601 ) 109,180 (511 ) 366,218 (2,112 ) U.S. corporate debt securities 59,593 (1,409 ) 1,551 (19 ) 61,144 (1,428 ) Foreign corporate debt securities 41,839 (1,193 ) 255 (12 ) 42,094 (1,205 ) $ 587,414 $ (5,704 ) $ 110,986 $ (542 ) $ 698,400 $ (6,246 ) 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 September 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 September 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 nine months ended September 30, 2020 is summarized as follows: (in thousands) Three Months Ended Nine Months Ended Balance at beginning of period $ (1,380 ) $ — Credit losses recognized during the period — (7,493 ) Net decreases to credit losses previously recognized 278 3,738 Reductions for securities sold 271 2,924 Reclassification to assets held for sale (1) 10 10 Balance at end of period $ (821 ) $ (821 ) (1) See Note 2 Disposition of the Property and Casualty Insurance Business for information on assets held for sale. 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 September 30, 2020 totaled $26.4 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 September 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 $ 82,169 $ 25,321 $ 907 $ 2,786 $ 111,183 Estimated fair value $ 82,442 $ 25,755 $ 1,023 $ 2,852 $ 112,072 Municipal bonds Amortized cost $ 46,100 $ 111,450 $ 391,718 $ 487,234 $ 1,036,502 Estimated fair value $ 46,478 $ 115,646 $ 420,952 $ 519,707 $ 1,102,783 Foreign government bonds Amortized cost $ 48,951 $ 57,372 $ 60,917 $ 14,645 $ 181,885 Estimated fair value $ 48,975 $ 59,281 $ 62,930 $ 15,798 $ 186,984 Governmental agency bonds Amortized cost $ 20,045 $ 108,735 $ 71,939 $ 54,640 $ 255,359 Estimated fair value $ 20,197 $ 112,761 $ 74,429 $ 59,465 $ 266,852 U.S. corporate debt securities Amortized cost $ 9,704 $ 307,185 $ 145,883 $ 70,674 $ 533,446 Estimated fair value $ 9,771 $ 325,903 $ 154,727 $ 76,274 $ 566,675 Foreign corporate debt securities Amortized cost $ 11,204 $ 188,095 $ 99,704 $ 42,944 $ 341,947 Estimated fair value $ 11,281 $ 196,961 $ 105,032 $ 44,247 $ 357,521 Total debt securities excluding mortgage-backed securities Amortized cost $ 218,173 $ 798,158 $ 771,068 $ 672,923 $ 2,460,322 Estimated fair value $ 219,144 $ 836,307 $ 819,093 $ 718,343 $ 2,592,887 Total mortgage-backed securities Amortized cost $ 3,272,439 Estimated fair value $ 3,346,337 Total debt securities Amortized cost $ 5,732,761 Estimated fair value $ 5,939,224 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 September 30, 2020 Preferred stocks $ 21,335 $ 17,244 Common stocks 332,174 375,936 $ 353,509 $ 393,180 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 $26.0 million and $2.6 million were recognized for the three and nine months ended September 30, 2020, respectively, as a result of changes in the fair values of equity securities. Included in net gains during the three and nine months ended September 30, 2020 were net unrealized gains of $26.1 million and $2.4 million, respectively, related to equity securities still held at September 30, 2020. Net gains (realized and unrealized) of $0.2 million and $41.6 million were recognized for the three and nine months ended September 30, 2019, respectively, as a result of changes in the fair values of equity securities. Included in net gains during the three and nine months ended September 30, 2019, were net unrealized losses of $1.5 million and net unrealized gains of $35.9 million, respectively, related to equity securities still held at September 30, 2019. The composition of the investment portfolio at September 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 $ 112,072 100.0 $ — — $ — — $ 112,072 100.0 Municipal bonds 1,065,632 96.6 37,151 3.4 — — 1,102,783 100.0 Foreign government bonds 170,806 91.3 13,686 7.4 2,492 1.3 186,984 100.0 Governmental agency bonds 266,852 100.0 — — — — 266,852 100.0 Governmental agency mortgage-backed securities 3,346,337 100.0 — — — — 3,346,337 100.0 U.S. corporate debt securities 266,057 47.0 246,872 43.5 53,746 9.5 566,675 100.0 Foreign corporate debt securities 149,096 41.7 187,669 52.5 20,756 5.8 357,521 100.0 Total debt securities 5,376,852 90.5 485,378 8.2 76,994 1.3 5,939,224 100.0 Preferred stocks 44 0.3 16,063 93.1 1,137 6.6 17,244 100.0 Total $ 5,376,896 90.3 $ 501,441 8.4 $ 78,131 1.3 $ 5,956,468 100.0 Included in debt securities at September 30, 2020, were bank loans totaling $54.9 million, of which $51.5 million were non-investment grade; high yield corporate debt securities totaling $20.3 million, all of which were non-investment grade; and emerging market debt securities totaling $65.2 million, of which $5.2 million were non-investment grade. The composition of the debt securities portfolio in an unrealized loss position at September 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 $ 56,635 100.0 $ — — $ — — $ 56,635 100.0 Municipal bonds 80,589 88.2 10,786 11.8 — — 91,375 100.0 Foreign government bonds 68,227 99.5 335 0.5 — — 68,562 100.0 Governmental agency bonds 12,372 100.0 — — — — 12,372 100.0 Governmental agency mortgage-backed securities 366,218 100.0 — — — — 366,218 100.0 U.S. corporate debt securities 13,148 21.5 8,436 13.8 39,560 64.7 61,144 100.0 Foreign corporate debt securities 18,845 44.8 12,222 29.0 11,027 26.2 42,094 100.0 Total $ 616,034 88.2 $ 31,779 4.6 $ 50,587 7.2 $ 698,400 100.0 Debt securities in an unrealized loss position at September 30, 2020, included bank loans totaling $48.5 million, of which $45.2 million were non-investment grade; high yield corporate debt securities totaling $4.2 million, all of which were non-investment grade; and emerging market debt securities totaling $3.9 million, of which $1.2 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	9 Months Ended
	Sep. 30, 2020
Receivables [Abstract]
Credit Losses - Financial Assets and Off - Balance Sheet Credit Exposures	Note 5 – 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 4 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 nine months ended September 30, 2020 is summarized as follows: (in thousands) Three Months Ended Nine Months Ended Balance at beginning of period $ 12,172 $ 12,676 Provision for expected credit losses 1,526 4,547 Reclassification to assets held for sale (2) (365 ) (365 ) Write-offs, net of recoveries (733 ) (4,258 ) Balance at end of period $ 12,600 $ 12,600 (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. (2) See Note 2 Disposition of the Property and Casualty Insurance Business for information on assets held for sale. 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 September 30, 2020 totaled $2.5 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 3 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	9 Months Ended
	Sep. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill	Note 6 – Goodwill A summary of the changes in the carrying amount of goodwill, by reportable segment, for the nine months ended September 30, 2020, is as follows: (in thousands) Title Insurance and Services Specialty Insurance Total Balance at December 31, 2019 Goodwill $ 1,104,143 $ 46,765 $ 1,150,908 Accumulated impairment losses — — — 1,104,143 46,765 1,150,908 Acquisitions 240,436 — 240,436 Dispositions (358 ) — (358 ) Impairment losses — (34,178 ) (34,178 ) Foreign currency translation (1,519 ) — (1,519 ) Balance at September 30, 2020 Goodwill 1,342,702 46,765 1,389,467 Accumulated impairment losses — (34,178 ) (34,178 ) $ 1,342,702 $ 12,587 $ 1,355,289 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 nine months ended September 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 the title insurance, home warranty and trust and other services reporting units. In the third quarter of 2020, the Company committed to a plan to sell its property and casualty insurance business, which triggered a goodwill impairment test for the property and casualty insurance reporting unit. Based on the results of the goodwill impairment test, the Company determined that the fair value of the property and casualty insurance reporting unit did not exceed its carrying amount. As a result, the Company recorded a pretax impairment loss to goodwill of $34.2 million for the three and nine months ended September 30, 2020. See Note 2 Disposition of the Property and Casualty Insurance Business for further information on the sale of the business. For discussion about the Company’s acquisitions in 2020, see Note 18 Business Combinations.

Other Intangible Assets

Other Intangible Assets	9 Months Ended
	Sep. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Other Intangible Assets	Note 7 – Other Intangible Assets Other intangible assets consist of the following: (in thousands) September 30, 2020 December 31, 2019 Finite-lived intangible assets: Customer relationships $ 167,278 $ 99,905 Noncompete agreements 38,045 13,150 Trademarks 23,344 10,520 Internal-use software licenses 22,820 21,982 Patents 2,840 2,840 254,327 148,397 Accumulated amortization (74,423 ) (73,449 ) 179,904 74,948 Indefinite-lived intangible assets: Licenses 16,787 16,885 $ 196,691 $ 91,833 Amortization expense for finite-lived intangible assets was $11.6 million and $31.4 million for the three and nine months ended September 30, 2020, respectively, and $6.7 million and $22.0 million for the three and nine months ended September 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 18 Business Combinations. In connection with the decision to sell the property and casualty insurance business, the Company recognized pretax impairment losses on its finite-lived intangible assets – customer relationships of $3.2 million for the three and nine months ended September 30, 2020. See Note 2 Disposition of the Property and Casualty Insurance Business for further information on the sale of the business. Estimated amortization expense for finite-lived intangible assets for the next five years is as follows: Year (in thousands) Remainder of 2020 $ 11,141 2021 $ 37,722 2022 $ 33,858 2023 $ 30,353 2024 $ 23,293 2025 $ 17,174

Reserve for Known and Incurred

Reserve for Known and Incurred but Not Reported Claims	9 Months Ended
	Sep. 30, 2020
Insurance Loss Reserves [Abstract]
Reserve for Known and Incurred but Not Reported Claims	Note 8 – 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: Nine Months Ended (in thousands) 2020 2019 Balance at beginning of period $ 1,063,044 $ 1,042,679 Provision related to: Current year 379,987 325,012 Prior years 34,014 6,513 414,001 331,525 Payments, net of recoveries, related to: Current year 179,654 158,285 Prior years 163,067 146,889 342,721 305,174 Other (3,882 ) (14,306 ) Reclassification to liabilities held for sale (1) (60,583 ) — Balance at end of period $ 1,069,859 $ 1,054,724 (1) See Note 2 Disposition of the Property and Casualty Insurance Business for information on liabilities held for sale. The provision for title insurance losses, expressed as a percentage of title insurance premiums and escrow fees, was 5.0% for the three and nine months ended September 30, 2020 compared to 4.0% for the three and nine months ended September 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 $7.0 million. The 4.0% rate for the third 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 nine months ended September 30, 2020 were lower by 21.0% and 18.1%, 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% in 2020. A summary of the Company’s loss reserves is as follows: (in thousands, except percentages) September 30, 2020 December 31, 2019 Known title claims $ 63,865 6.0 % $ 83,382 7.8 % Incurred but not reported claims 981,837 91.7 % 903,994 85.1 % Total title claims 1,045,702 97.7 % 987,376 92.9 % Non-title claims 24,157 2.3 % 75,668 7.1 % Total loss reserves $ 1,069,859 100.0 % $ 1,063,044 100.0 %

Notes and Contracts Payable

Notes and Contracts Payable	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Notes and Contracts Payable	Note 9 – 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	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Note 10 – Income Taxes The Company’s effective income tax rates (income tax expense as a percentage of income before income taxes) were 24.6% and 22.5% for the three and nine months ended September 30, 2020, respectively, and 23.3% and 21.3% for the three and nine months ended September 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 September 30, 2020 and December 31, 2019, the liability for income taxes associated with uncertain tax positions was $7.0 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 September 30, 2020 and December 31, 2019, the liability could be reduced by $2.0 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 September 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 September 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	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Earnings Per Share	Note 11 – Earnings Per Share The computation of basic and diluted earnings per share is as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except per share amounts) 2020 2019 2020 2019 Numerator Net income attributable to the Company $ 182,279 $ 187,182 $ 416,138 $ 483,412 Denominator Basic weighted-average shares 112,584 113,163 112,913 112,983 Effect of dilutive employee stock options and 259 578 263 526 Diluted weighted-average shares 112,843 113,741 113,176 113,509 Net income per share attributable to the Company’s stockholders Basic $ 1.62 $ 1.65 $ 3.69 $ 4.28 Diluted $ 1.62 $ 1.65 $ 3.68 $ 4.26 For the three and nine months ended September 30, 2020, 172 thousand and 284 thousand RSUs, respectively, were excluded from the weighted-average diluted common shares outstanding due to their antidilutive effect. For the three and nine months ended September 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 nine months ended September 30, 2020, as all remaining stock options outstanding were exercised during the fourth quarter of 2019.

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
	Sep. 30, 2020
Compensation And Retirement Disclosure [Abstract]
Employee Benefit Plans	Note 12 – Employee Benefit Plans Net periodic cost related to the Company’s unfunded supplemental benefit plans includes the following components: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2020 2019 2020 2019 Expense: Service costs $ 44 $ 70 $ 134 $ 211 Interest costs 1,781 2,280 5,343 6,838 Amortization of net actuarial loss 1,321 916 3,961 2,746 Amortization of prior service credit (777 ) (1,018 ) (2,331 ) (3,053 ) $ 2,369 $ 2,248 $ 7,107 $ 6,742 The Company contributed $10.8 million to its unfunded supplemental benefit plans during the nine months ended September 30, 2020, and expects to contribute an additional $4.6 million during the remainder of 2020.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 13 – 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 September 30, 2020 and December 31, 2019: (in thousands) Total Level 1 Level 2 Level 3 September 30, 2020 Debt securities: U.S. Treasury bonds $ 112,072 $ — $ 112,072 $ — Municipal bonds 1,102,783 — 1,102,783 — Foreign government bonds 186,984 — 186,984 — Governmental agency bonds 266,852 — 266,852 — Governmental agency mortgage-backed securities 3,346,337 — 3,346,337 — U.S. corporate debt securities 566,675 — 566,675 — Foreign corporate debt securities 357,521 — 357,521 — 5,939,224 — 5,939,224 — Equity securities: Preferred stocks 17,244 17,244 — — Common stocks 375,936 375,936 — — 393,180 393,180 — — Total assets $ 6,332,404 $ 393,180 $ 5,939,224 $ — (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 nine months ended September 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 September 30, 2020 and December 31, 2019: Carrying Estimated fair value (in thousands) Amount Total Level 1 Level 2 Level 3 September 30, 2020 Assets: Cash and cash equivalents $ 1,512,369 $ 1,512,369 $ 1,512,369 $ — $ — Deposits with banks $ 41,551 $ 41,687 $ 3,194 $ 38,493 $ — Notes receivable, net $ 29,986 $ 28,851 $ — $ — $ 28,851 Secured financings receivable $ 722,156 $ 722,156 $ — $ 722,156 $ — Liabilities: Secured financings payable $ 526,544 $ 526,544 $ — $ 526,544 $ — Notes and contracts payable $ 1,011,758 $ 1,114,323 $ — $ 1,107,735 $ 6,588 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 Assets measured at fair value on a non-recurring basis The Company measures the fair value of certain assets on a non-recurring basis when events or changes in circumstances indicate that the carrying amount may not be recoverable. These assets generally include goodwill, title plants and other indexes, other intangible assets, property and equipment and cost and equity-method investments. In connection with the decision to sell the property and casualty insurance business, the Company recognized impairment losses of $34.2 million, $17.6 million and $3.2 million to goodwill, property and equipment and other intangible assets, respectively, during the three and nine months ended September 30, 2020. The impairment charges were determined based on fair values utilizing Level 3 unobservable inputs. See Note 2 Disposition of the Property and Casualty Insurance Business for further information on the sale of the business.

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-Based Compensation	Note 14 – Share-Based Compensation The following table presents costs associated with the Company’s share-based compensation plans: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2020 2019 2020 2019 Expense: RSUs $ 7,049 $ 6,608 $ 39,763 $ 31,761 Employee stock purchase plan 1,355 948 4,237 3,150 $ 8,404 $ 7,556 $ 44,000 $ 34,911 The following table summarizes RSU activity for the nine months ended September 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 763 $ 63.88 Vested during 2020 (982 ) $ 53.00 Forfeited during 2020 (39 ) $ 58.16 Unvested at September 30, 2020 894 $ 57.23

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Stockholders' Equity	Note 15 – Stockholders’ Equity The Company maintains a stock repurchase plan with authorization up to $250.0 million, of which $92.7 million remained as of September 30, 2020. Repurchases may be made from time to time by the Company in the open market at prevailing market prices or in privately negotiated transactions. The Company did not repurchase any shares of its common stock during the three months ended September 30, 2020. During the nine months ended September 30, 2020, the Company repurchased and retired 1.8 million shares of its common stock for a total purchase price of $68.9 million, and as of September 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")	9 Months Ended
	Sep. 30, 2020
Accumulated Other Comprehensive Income Other Comprehensive Income [Abstract]
Accumulated Other Comprehensive Income (Loss) ("AOCI")	Note 16 – Accumulated Other Comprehensive Income (Loss) (“AOCI”) The following table presents a summary of the changes in each component of AOCI for the nine months ended September 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 97,031 — — 97,031 — 97,031 Change in unrealized gains (losses) on debt securities for which credit-related portion was recognized in earnings 186 — — 186 — 186 Change in foreign currency translation adjustment — (9,498 ) — (9,498 ) — (9,498 ) Amortization of net actuarial loss — — 3,961 3,961 — 3,961 Amortization of prior service credit — — (2,331 ) (2,331 ) — (2,331 ) Tax effect (24,000 ) 389 (433 ) (24,044 ) — (24,044 ) Balance at September 30, 2020 $ 156,334 $ (60,777 ) $ (71,744 ) $ 23,813 $ 1 $ 23,814 The following table presents the other comprehensive income (loss) reclassification adjustments for the three months ended September 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 September 30, 2020 Pretax change before reclassifications $ 9,110 $ 10,817 $ — $ 19,927 Reclassifications out of AOCI (6,627 ) — 544 (6,083 ) Tax effect (499 ) (743 ) (145 ) (1,387 ) Total other comprehensive income (loss), net of tax $ 1,984 $ 10,074 $ 399 $ 12,457 Three Months Ended September 30, 2019 Pretax change before reclassifications $ 19,348 $ (7,614 ) $ — $ 11,734 Reclassifications out of AOCI (2,165 ) — (102 ) (2,267 ) Tax effect (3,690 ) 241 26 (3,423 ) Total other comprehensive income (loss), net of tax $ 13,493 $ (7,373 ) $ (76 ) $ 6,044 The following table presents the other comprehensive income (loss) reclassification adjustments for the nine months ended September 30, 2020 and 2019: (in thousands) Unrealized gains (losses) on debt securities Foreign currency translation adjustment Pension benefit adjustment Total other comprehensive income (loss) Nine Months Ended September 30, 2020 Pretax change before reclassifications $ 102,392 $ (9,498 ) $ — $ 92,894 Reclassifications out of AOCI (5,175 ) — 1,630 (3,545 ) Tax effect (24,000 ) 389 (433 ) (24,044 ) Total other comprehensive income (loss), net of tax $ 73,217 $ (9,109 ) $ 1,197 $ 65,305 Nine Months Ended September 30, 2019 Pretax change before reclassifications $ 166,647 $ 3,146 $ — $ 169,793 Reclassifications out of AOCI (1,830 ) — (307 ) (2,137 ) Tax effect (38,645 ) (187 ) 80 (38,752 ) Total other comprehensive income (loss), net of tax $ 126,172 $ 2,959 $ (227 ) $ 128,904 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 September 30, Nine Months Ended September 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 $ 6,694 $ 2,165 $ 12,749 $ 1,830 Net realized investment gains Credit losses recognized on debt securities (67 ) — (7,574 ) — Net realized investment gains Pretax total $ 6,627 $ 2,165 $ 5,175 $ 1,830 Tax effect $ (1,322 ) $ (465 ) $ (1,278 ) $ (429 ) Pension benefit adjustment (1): Amortization of net actuarial loss $ (1,321 ) $ (916 ) $ (3,961 ) $ (2,746 ) Other operating expenses Amortization of prior service credit 777 1,018 2,331 3,053 Other operating expenses Pretax total $ (544 ) $ 102 $ (1,630 ) $ 307 Tax effect $ 145 $ (26 ) $ 433 $ (80 ) (1) These components of AOCI are components of net periodic cost. See Note 12 Employee Benefit Plans for additional details.

Litigation and Regulatory Conti

Litigation and Regulatory Contingencies	9 Months Ended
	Sep. 30, 2020
Commitments And Contingencies Disclosure [Abstract]
Litigation and Regulatory Contingencies	Note 17 – 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; however, the appellate court has remanded the Wilmot action back for certification of a subclass. 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 exams and investigations include two 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 (“SEC”) enforcement staff and the other by the New York Department of Financial Services. The SEC enforcement staff is questioning the adequacy of disclosures the Company made at the time of the incident and the adequacy of its disclosure controls. In September 2020, the Company received a Wells Notice informing the Company that the enforcement staff has made a preliminary determination to recommend a filing of an enforcement action by the SEC against the Company. The Company believes that its disclosures and disclosure controls complied with the securities laws and has availed itself of the opportunity to provide a response to convince the SEC that an enforcement action is inappropriate under the circumstances. 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 and scheduled an administrative hearing in connection therewith. These exams and investigations 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. Some of 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 $14.9 million, which is based on the exchange rate as of, and includes interest charges through, September 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	9 Months Ended
	Sep. 30, 2020
Business Combinations [Abstract]
Business Combinations	Note 18 – Business Combinations During the nine months ended September 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 $201.9 million, $19.0 million and $121.0 million, respectively.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Segment Information	Note 19 – 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 35 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 September 30, 2020: (in thousands) Revenues Income (loss) before income taxes Depreciation and amortization Capital expenditures Title Insurance and Services $ 1,771,993 $ 337,480 $ 36,194 $ 33,034 Specialty Insurance 136,332 (72,129 ) 1,995 2,114 Corporate 6,055 (21,980 ) 38 — Eliminations (659 ) — — — $ 1,913,721 $ 243,371 $ 38,227 $ 35,148 (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 $ 680,910 $ 722,434 $ 282,671 $ 44,726 $ 41,252 $ 1,771,993 Specialty Insurance 127,037 — 3,450 2,105 3,740 136,332 $ 807,947 $ 722,434 $ 286,121 $ 46,831 $ 44,992 $ 1,908,325 For the three months ended September 30, 2019: (in thousands) Revenues Income (loss) before income taxes Depreciation and amortization Capital expenditures Title Insurance and Services $ 1,540,741 $ 253,570 $ 29,822 $ 22,869 Specialty Insurance 129,190 11,021 1,859 2,015 Corporate 1,770 (19,253 ) 38 — Eliminations (505 ) — — — $ 1,671,196 $ 245,338 $ 31,719 $ 24,884 (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 $ 606,812 $ 656,154 $ 205,282 $ 72,044 $ 449 $ 1,540,741 Specialty Insurance 121,798 — 3,270 3,064 1,058 129,190 $ 728,610 $ 656,154 $ 208,552 $ 75,108 $ 1,507 $ 1,669,931 For the nine months ended September 30, 2020: (in thousands) Revenues Income (loss) before income taxes Depreciation and amortization Capital expenditures Title Insurance and Services $ 4,535,558 $ 648,261 $ 104,705 $ 86,456 Specialty Insurance 391,818 (51,954 ) 5,832 8,015 Corporate 9,260 (55,317 ) 115 — Eliminations (1,243 ) — — — $ 4,935,393 $ 540,990 $ 110,652 $ 94,471 (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 $ 1,712,946 $ 1,920,011 $ 719,196 $ 147,628 $ 35,777 $ 4,535,558 Specialty Insurance 367,622 — 9,992 7,005 7,199 391,818 $ 2,080,568 $ 1,920,011 $ 729,188 $ 154,633 $ 42,976 $ 4,927,376 For the nine months ended September 30, 2019: (in thousands) Revenues Income (loss) before income taxes Depreciation and amortization Capital expenditures Title Insurance and Services $ 4,084,795 $ 628,392 $ 92,043 $ 71,839 Specialty Insurance 374,340 44,546 5,379 7,187 Corporate 15,456 (56,433 ) 115 — Eliminations (1,194 ) — — — $ 4,473,397 $ 616,505 $ 97,537 $ 79,026 (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 $ 1,561,926 $ 1,701,538 $ 573,150 $ 213,067 $ 35,114 $ 4,084,795 Specialty Insurance 348,904 — 9,490 8,496 7,450 374,340 $ 1,910,830 $ 1,701,538 $ 582,640 $ 221,563 $ 42,564 $ 4,459,135

Basis of Condensed Consolidat_2

Basis of Condensed Consolidated Financial Statements (Policies)	9 Months Ended
	Sep. 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 on a modified-retrospective basis , effective January 1, 2020, did not have a material impact, except for the disclosure requirements, on the Company’s condensed consolidated financial statements . See Note 4 Debt and Equity Securities and Note 5 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.

Disposition of the Property a_2

Disposition of the Property and Casualty Insurance Business (Tables)	9 Months Ended
	Sep. 30, 2020
Discontinued Operations And Disposal Groups [Abstract]
Schedule of Major Classes of Assets and Liabilities Classified As Held For Sale	The major classes of assets and liabilities classified as held for sale, as of September 30, 2020, are summarized as follows: (in thousands) September 30, 2020 Assets held for sale Cash and cash equivalents $ 21,601 Accounts and accrued income receivable 11,308 Debt and equity securities 162,803 Other assets 20,900 Assets held for sale 216,612 Less: Loss accrual (18,329 ) Total assets held for sale $ 198,283 Liabilities held for sale Accounts payable and accrued liabilities $ 14,924 Deferred revenue 72,655 Reserve for known and incurred but not reported claims 60,583 Other liabilities 121 Total liabilities held for sale $ 148,283

Debt and Equity Securities (Tab

Debt and Equity Securities (Tables)	9 Months Ended
	Sep. 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 September 30, 2020 U.S. Treasury bonds $ 111,183 $ — $ 890 $ (1 ) $ 112,072 Municipal bonds 1,036,502 — 67,396 (1,115 ) 1,102,783 Foreign government bonds 181,885 (111 ) 5,425 (215 ) 186,984 Governmental agency bonds 255,359 — 11,663 (170 ) 266,852 Governmental agency mortgage-backed securities 3,272,439 — 76,010 (2,112 ) 3,346,337 U.S. corporate debt securities 533,446 (496 ) 35,153 (1,428 ) 566,675 Foreign corporate debt securities 341,947 (214 ) 16,993 (1,205 ) 357,521 $ 5,732,761 $ (821 ) $ 213,530 $ (6,246 ) $ 5,939,224 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 nine months ended September 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 September 30, 2020 U.S. Treasury bonds $ 56,635 $ (1 ) $ — $ — $ 56,635 $ (1 ) Municipal bonds 91,375 (1,115 ) — — 91,375 (1,115 ) Foreign government bonds 68,562 (215 ) — — 68,562 (215 ) Governmental agency bonds 12,372 (170 ) — — 12,372 (170 ) Governmental agency mortgage-backed securities 257,038 (1,601 ) 109,180 (511 ) 366,218 (2,112 ) U.S. corporate debt securities 59,593 (1,409 ) 1,551 (19 ) 61,144 (1,428 ) Foreign corporate debt securities 41,839 (1,193 ) 255 (12 ) 42,094 (1,205 ) $ 587,414 $ (5,704 ) $ 110,986 $ (542 ) $ 698,400 $ (6,246 ) 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 nine months ended September 30, 2020 is summarized as follows: (in thousands) Three Months Ended Nine Months Ended Balance at beginning of period $ (1,380 ) $ — Credit losses recognized during the period — (7,493 ) Net decreases to credit losses previously recognized 278 3,738 Reductions for securities sold 271 2,924 Reclassification to assets held for sale (1) 10 10 Balance at end of period $ (821 ) $ (821 ) (1) See Note 2 Disposition of the Property and Casualty Insurance Business for information on assets held for sale.
Investments in Debt Securities by Contractual Maturity	Investments in debt securities at September 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 $ 82,169 $ 25,321 $ 907 $ 2,786 $ 111,183 Estimated fair value $ 82,442 $ 25,755 $ 1,023 $ 2,852 $ 112,072 Municipal bonds Amortized cost $ 46,100 $ 111,450 $ 391,718 $ 487,234 $ 1,036,502 Estimated fair value $ 46,478 $ 115,646 $ 420,952 $ 519,707 $ 1,102,783 Foreign government bonds Amortized cost $ 48,951 $ 57,372 $ 60,917 $ 14,645 $ 181,885 Estimated fair value $ 48,975 $ 59,281 $ 62,930 $ 15,798 $ 186,984 Governmental agency bonds Amortized cost $ 20,045 $ 108,735 $ 71,939 $ 54,640 $ 255,359 Estimated fair value $ 20,197 $ 112,761 $ 74,429 $ 59,465 $ 266,852 U.S. corporate debt securities Amortized cost $ 9,704 $ 307,185 $ 145,883 $ 70,674 $ 533,446 Estimated fair value $ 9,771 $ 325,903 $ 154,727 $ 76,274 $ 566,675 Foreign corporate debt securities Amortized cost $ 11,204 $ 188,095 $ 99,704 $ 42,944 $ 341,947 Estimated fair value $ 11,281 $ 196,961 $ 105,032 $ 44,247 $ 357,521 Total debt securities excluding mortgage-backed securities Amortized cost $ 218,173 $ 798,158 $ 771,068 $ 672,923 $ 2,460,322 Estimated fair value $ 219,144 $ 836,307 $ 819,093 $ 718,343 $ 2,592,887 Total mortgage-backed securities Amortized cost $ 3,272,439 Estimated fair value $ 3,346,337 Total debt securities Amortized cost $ 5,732,761 Estimated fair value $ 5,939,224
Investments in Equity Securities	Investments in equity securities are as follows: (in thousands) Cost Estimated fair value September 30, 2020 Preferred stocks $ 21,335 $ 17,244 Common stocks 332,174 375,936 $ 353,509 $ 393,180 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 September 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 $ 112,072 100.0 $ — — $ — — $ 112,072 100.0 Municipal bonds 1,065,632 96.6 37,151 3.4 — — 1,102,783 100.0 Foreign government bonds 170,806 91.3 13,686 7.4 2,492 1.3 186,984 100.0 Governmental agency bonds 266,852 100.0 — — — — 266,852 100.0 Governmental agency mortgage-backed securities 3,346,337 100.0 — — — — 3,346,337 100.0 U.S. corporate debt securities 266,057 47.0 246,872 43.5 53,746 9.5 566,675 100.0 Foreign corporate debt securities 149,096 41.7 187,669 52.5 20,756 5.8 357,521 100.0 Total debt securities 5,376,852 90.5 485,378 8.2 76,994 1.3 5,939,224 100.0 Preferred stocks 44 0.3 16,063 93.1 1,137 6.6 17,244 100.0 Total $ 5,376,896 90.3 $ 501,441 8.4 $ 78,131 1.3 $ 5,956,468 100.0
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 September 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 $ 56,635 100.0 $ — — $ — — $ 56,635 100.0 Municipal bonds 80,589 88.2 10,786 11.8 — — 91,375 100.0 Foreign government bonds 68,227 99.5 335 0.5 — — 68,562 100.0 Governmental agency bonds 12,372 100.0 — — — — 12,372 100.0 Governmental agency mortgage-backed securities 366,218 100.0 — — — — 366,218 100.0 U.S. corporate debt securities 13,148 21.5 8,436 13.8 39,560 64.7 61,144 100.0 Foreign corporate debt securities 18,845 44.8 12,222 29.0 11,027 26.2 42,094 100.0 Total $ 616,034 88.2 $ 31,779 4.6 $ 50,587 7.2 $ 698,400 100.0

Credit Losses - Financial Ass_2

Credit Losses - Financial Assets and Off - Balance Sheet Credit Exposures (Tables)	9 Months Ended
	Sep. 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 nine months ended September 30, 2020 is summarized as follows: (in thousands) Three Months Ended Nine Months Ended Balance at beginning of period $ 12,172 $ 12,676 Provision for expected credit losses 1,526 4,547 Reclassification to assets held for sale (2) (365 ) (365 ) Write-offs, net of recoveries (733 ) (4,258 ) Balance at end of period $ 12,600 $ 12,600 (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. (2) See Note 2 Disposition of the Property and Casualty Insurance Business for information on assets held for sale.

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Sep. 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 nine months ended September 30, 2020, is as follows: (in thousands) Title Insurance and Services Specialty Insurance Total Balance at December 31, 2019 Goodwill $ 1,104,143 $ 46,765 $ 1,150,908 Accumulated impairment losses — — — 1,104,143 46,765 1,150,908 Acquisitions 240,436 — 240,436 Dispositions (358 ) — (358 ) Impairment losses — (34,178 ) (34,178 ) Foreign currency translation (1,519 ) — (1,519 ) Balance at September 30, 2020 Goodwill 1,342,702 46,765 1,389,467 Accumulated impairment losses — (34,178 ) (34,178 ) $ 1,342,702 $ 12,587 $ 1,355,289

Other Intangible Assets (Tables

Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2020
Intangible Assets Gross Excluding Goodwill [Abstract]
Schedule of Other Intangible Assets	Other intangible assets consist of the following: (in thousands) September 30, 2020 December 31, 2019 Finite-lived intangible assets: Customer relationships $ 167,278 $ 99,905 Noncompete agreements 38,045 13,150 Trademarks 23,344 10,520 Internal-use software licenses 22,820 21,982 Patents 2,840 2,840 254,327 148,397 Accumulated amortization (74,423 ) (73,449 ) 179,904 74,948 Indefinite-lived intangible assets: Licenses 16,787 16,885 $ 196,691 $ 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 $ 11,141 2021 $ 37,722 2022 $ 33,858 2023 $ 30,353 2024 $ 23,293 2025 $ 17,174

Reserve for Known and Incurre_2

Reserve for Known and Incurred but Not Reported Claims (Tables)	9 Months Ended
	Sep. 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: Nine Months Ended (in thousands) 2020 2019 Balance at beginning of period $ 1,063,044 $ 1,042,679 Provision related to: Current year 379,987 325,012 Prior years 34,014 6,513 414,001 331,525 Payments, net of recoveries, related to: Current year 179,654 158,285 Prior years 163,067 146,889 342,721 305,174 Other (3,882 ) (14,306 ) Reclassification to liabilities held for sale (1) (60,583 ) — Balance at end of period $ 1,069,859 $ 1,054,724 A summary of the Company’s loss reserves is as follows: (in thousands, except percentages) September 30, 2020 December 31, 2019 Known title claims $ 63,865 6.0 % $ 83,382 7.8 % Incurred but not reported claims 981,837 91.7 % 903,994 85.1 % Total title claims 1,045,702 97.7 % 987,376 92.9 % Non-title claims 24,157 2.3 % 75,668 7.1 % Total loss reserves $ 1,069,859 100.0 % $ 1,063,044 100.0 %

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 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 September 30, Nine Months Ended September 30, (in thousands, except per share amounts) 2020 2019 2020 2019 Numerator Net income attributable to the Company $ 182,279 $ 187,182 $ 416,138 $ 483,412 Denominator Basic weighted-average shares 112,584 113,163 112,913 112,983 Effect of dilutive employee stock options and 259 578 263 526 Diluted weighted-average shares 112,843 113,741 113,176 113,509 Net income per share attributable to the Company’s stockholders Basic $ 1.62 $ 1.65 $ 3.69 $ 4.28 Diluted $ 1.62 $ 1.65 $ 3.68 $ 4.26

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	9 Months Ended
	Sep. 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 September 30, Nine Months Ended September 30, (in thousands) 2020 2019 2020 2019 Expense: Service costs $ 44 $ 70 $ 134 $ 211 Interest costs 1,781 2,280 5,343 6,838 Amortization of net actuarial loss 1,321 916 3,961 2,746 Amortization of prior service credit (777 ) (1,018 ) (2,331 ) (3,053 ) $ 2,369 $ 2,248 $ 7,107 $ 6,742

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 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 September 30, 2020 and December 31, 2019: (in thousands) Total Level 1 Level 2 Level 3 September 30, 2020 Debt securities: U.S. Treasury bonds $ 112,072 $ — $ 112,072 $ — Municipal bonds 1,102,783 — 1,102,783 — Foreign government bonds 186,984 — 186,984 — Governmental agency bonds 266,852 — 266,852 — Governmental agency mortgage-backed securities 3,346,337 — 3,346,337 — U.S. corporate debt securities 566,675 — 566,675 — Foreign corporate debt securities 357,521 — 357,521 — 5,939,224 — 5,939,224 — Equity securities: Preferred stocks 17,244 17,244 — — Common stocks 375,936 375,936 — — 393,180 393,180 — — Total assets $ 6,332,404 $ 393,180 $ 5,939,224 $ — (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 September 30, 2020 and December 31, 2019: Carrying Estimated fair value (in thousands) Amount Total Level 1 Level 2 Level 3 September 30, 2020 Assets: Cash and cash equivalents $ 1,512,369 $ 1,512,369 $ 1,512,369 $ — $ — Deposits with banks $ 41,551 $ 41,687 $ 3,194 $ 38,493 $ — Notes receivable, net $ 29,986 $ 28,851 $ — $ — $ 28,851 Secured financings receivable $ 722,156 $ 722,156 $ — $ 722,156 $ — Liabilities: Secured financings payable $ 526,544 $ 526,544 $ — $ 526,544 $ — Notes and contracts payable $ 1,011,758 $ 1,114,323 $ — $ 1,107,735 $ 6,588 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)	9 Months Ended
	Sep. 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 September 30, Nine Months Ended September 30, (in thousands) 2020 2019 2020 2019 Expense: RSUs $ 7,049 $ 6,608 $ 39,763 $ 31,761 Employee stock purchase plan 1,355 948 4,237 3,150 $ 8,404 $ 7,556 $ 44,000 $ 34,911
Summary of RSU Activity	The following table summarizes RSU activity for the nine months ended September 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 763 $ 63.88 Vested during 2020 (982 ) $ 53.00 Forfeited during 2020 (39 ) $ 58.16 Unvested at September 30, 2020 894 $ 57.23

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) ("AOCI") (Tables)	9 Months Ended
	Sep. 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 nine months ended September 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 97,031 — — 97,031 — 97,031 Change in unrealized gains (losses) on debt securities for which credit-related portion was recognized in earnings 186 — — 186 — 186 Change in foreign currency translation adjustment — (9,498 ) — (9,498 ) — (9,498 ) Amortization of net actuarial loss — — 3,961 3,961 — 3,961 Amortization of prior service credit — — (2,331 ) (2,331 ) — (2,331 ) Tax effect (24,000 ) 389 (433 ) (24,044 ) — (24,044 ) Balance at September 30, 2020 $ 156,334 $ (60,777 ) $ (71,744 ) $ 23,813 $ 1 $ 23,814
Adjustments for Reclassification of Other Comprehensive Income (Loss)	The following table presents the other comprehensive income (loss) reclassification adjustments for the three months ended September 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 September 30, 2020 Pretax change before reclassifications $ 9,110 $ 10,817 $ — $ 19,927 Reclassifications out of AOCI (6,627 ) — 544 (6,083 ) Tax effect (499 ) (743 ) (145 ) (1,387 ) Total other comprehensive income (loss), net of tax $ 1,984 $ 10,074 $ 399 $ 12,457 Three Months Ended September 30, 2019 Pretax change before reclassifications $ 19,348 $ (7,614 ) $ — $ 11,734 Reclassifications out of AOCI (2,165 ) — (102 ) (2,267 ) Tax effect (3,690 ) 241 26 (3,423 ) Total other comprehensive income (loss), net of tax $ 13,493 $ (7,373 ) $ (76 ) $ 6,044 The following table presents the other comprehensive income (loss) reclassification adjustments for the nine months ended September 30, 2020 and 2019: (in thousands) Unrealized gains (losses) on debt securities Foreign currency translation adjustment Pension benefit adjustment Total other comprehensive income (loss) Nine Months Ended September 30, 2020 Pretax change before reclassifications $ 102,392 $ (9,498 ) $ — $ 92,894 Reclassifications out of AOCI (5,175 ) — 1,630 (3,545 ) Tax effect (24,000 ) 389 (433 ) (24,044 ) Total other comprehensive income (loss), net of tax $ 73,217 $ (9,109 ) $ 1,197 $ 65,305 Nine Months Ended September 30, 2019 Pretax change before reclassifications $ 166,647 $ 3,146 $ — $ 169,793 Reclassifications out of AOCI (1,830 ) — (307 ) (2,137 ) Tax effect (38,645 ) (187 ) 80 (38,752 ) Total other comprehensive income (loss), net of tax $ 126,172 $ 2,959 $ (227 ) $ 128,904
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 September 30, Nine Months Ended September 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 $ 6,694 $ 2,165 $ 12,749 $ 1,830 Net realized investment gains Credit losses recognized on debt securities (67 ) — (7,574 ) — Net realized investment gains Pretax total $ 6,627 $ 2,165 $ 5,175 $ 1,830 Tax effect $ (1,322 ) $ (465 ) $ (1,278 ) $ (429 ) Pension benefit adjustment (1): Amortization of net actuarial loss $ (1,321 ) $ (916 ) $ (3,961 ) $ (2,746 ) Other operating expenses Amortization of prior service credit 777 1,018 2,331 3,053 Other operating expenses Pretax total $ (544 ) $ 102 $ (1,630 ) $ 307 Tax effect $ 145 $ (26 ) $ 433 $ (80 ) (1) These components of AOCI are components of net periodic cost. See Note 12 Employee Benefit Plans for additional details.

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 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 September 30, 2020: (in thousands) Revenues Income (loss) before income taxes Depreciation and amortization Capital expenditures Title Insurance and Services $ 1,771,993 $ 337,480 $ 36,194 $ 33,034 Specialty Insurance 136,332 (72,129 ) 1,995 2,114 Corporate 6,055 (21,980 ) 38 — Eliminations (659 ) — — — $ 1,913,721 $ 243,371 $ 38,227 $ 35,148 (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 $ 680,910 $ 722,434 $ 282,671 $ 44,726 $ 41,252 $ 1,771,993 Specialty Insurance 127,037 — 3,450 2,105 3,740 136,332 $ 807,947 $ 722,434 $ 286,121 $ 46,831 $ 44,992 $ 1,908,325 For the three months ended September 30, 2019: (in thousands) Revenues Income (loss) before income taxes Depreciation and amortization Capital expenditures Title Insurance and Services $ 1,540,741 $ 253,570 $ 29,822 $ 22,869 Specialty Insurance 129,190 11,021 1,859 2,015 Corporate 1,770 (19,253 ) 38 — Eliminations (505 ) — — — $ 1,671,196 $ 245,338 $ 31,719 $ 24,884 (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 $ 606,812 $ 656,154 $ 205,282 $ 72,044 $ 449 $ 1,540,741 Specialty Insurance 121,798 — 3,270 3,064 1,058 129,190 $ 728,610 $ 656,154 $ 208,552 $ 75,108 $ 1,507 $ 1,669,931 For the nine months ended September 30, 2020: (in thousands) Revenues Income (loss) before income taxes Depreciation and amortization Capital expenditures Title Insurance and Services $ 4,535,558 $ 648,261 $ 104,705 $ 86,456 Specialty Insurance 391,818 (51,954 ) 5,832 8,015 Corporate 9,260 (55,317 ) 115 — Eliminations (1,243 ) — — — $ 4,935,393 $ 540,990 $ 110,652 $ 94,471 (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 $ 1,712,946 $ 1,920,011 $ 719,196 $ 147,628 $ 35,777 $ 4,535,558 Specialty Insurance 367,622 — 9,992 7,005 7,199 391,818 $ 2,080,568 $ 1,920,011 $ 729,188 $ 154,633 $ 42,976 $ 4,927,376 For the nine months ended September 30, 2019: (in thousands) Revenues Income (loss) before income taxes Depreciation and amortization Capital expenditures Title Insurance and Services $ 4,084,795 $ 628,392 $ 92,043 $ 71,839 Specialty Insurance 374,340 44,546 5,379 7,187 Corporate 15,456 (56,433 ) 115 — Eliminations (1,194 ) — — — $ 4,473,397 $ 616,505 $ 97,537 $ 79,026 (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 $ 1,561,926 $ 1,701,538 $ 573,150 $ 213,067 $ 35,114 $ 4,084,795 Specialty Insurance 348,904 — 9,490 8,496 7,450 374,340 $ 1,910,830 $ 1,701,538 $ 582,640 $ 221,563 $ 42,564 $ 4,459,135

Disposition of the Property a_3

Disposition of the Property and Casualty Insurance Business - (Narrative) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Discontinued Operations And Disposal Groups [Abstract]
Impairments on assets held for sale	$ 73,264	$ 0	$ 73,264	$ 0

Disposition of the Property a_4

Disposition of the Property and Casualty Insurance Business - Schedule of Major Classes of Assets and Liabilities Classified As Held For Sale (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Sep. 30, 2019
Assets held for sale
Cash and cash equivalents	$ 21,601	$ 0
Accounts and accrued income receivable	11,308
Debt and equity securities	162,803
Other assets	20,900
Assets held for sale	216,612
Less: Loss accrual	(18,329)
Total assets held for sale	198,283
Liabilities held for sale
Accounts payable and accrued liabilities	14,924
Deferred revenue	72,655
Reserve for known and incurred but not reported claims	60,583
Other liabilities	121
Total liabilities held for sale	$ 148,283

Escrow Deposits, Like-Kind Ex_2

Escrow Deposits, Like-Kind Exchange Deposits and Trust Assets (Narrative) (Detail) - USD ($) $ in Billions	Sep. 30, 2020	Dec. 31, 2019
Other Assets [Line Items]
Escrow deposits	$ 7.9	$ 7.3
Like-kind exchange funds	2	3
First American Trust
Other Assets [Line Items]
Escrow deposits	3.3	3.2
Assets held-in-trust	$ 4.3	$ 4.2

Debt and Equity Securities (Inv

Debt and Equity Securities (Investments in Debt Securities, Classified as Available-For-Sale) (Detail) - USD ($) $ in Thousands		Sep. 30, 2020		Jun. 30, 2020	Dec. 31, 2019
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost		$ 5,732,761			$ 5,796,755
Debt Securities, Allowance for credit losses		(821)	[1]	$ 1,380	0	[1]
Debt Securities, Gross unrealized gains		213,530			127,123
Debt Securities, Gross unrealized losses		(6,246)			(10,242)
Debt securities, Estimated fair value		5,939,224			5,913,636
U.S. Treasury bonds
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost		111,183			143,825
Debt Securities, Allowance for credit losses	[1]	0			0
Debt Securities, Gross unrealized gains		890			469
Debt Securities, Gross unrealized losses		(1)			(353)
Debt securities, Estimated fair value		112,072			143,941
Municipal bonds
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost		1,036,502			1,043,252
Debt Securities, Allowance for credit losses	[1]	0			0
Debt Securities, Gross unrealized gains		67,396			47,804
Debt Securities, Gross unrealized losses		(1,115)			(217)
Debt securities, Estimated fair value		1,102,783			1,090,839
Foreign government bonds
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost		181,885			179,554
Debt Securities, Allowance for credit losses	[1]	(111)			0
Debt Securities, Gross unrealized gains		5,425			1,497
Debt Securities, Gross unrealized losses		(215)			(961)
Debt securities, Estimated fair value		186,984			180,090
Governmental agency bonds
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost		255,359			316,318
Debt Securities, Allowance for credit losses	[1]	0			0
Debt Securities, Gross unrealized gains		11,663			5,820
Debt Securities, Gross unrealized losses		(170)			(219)
Debt securities, Estimated fair value		266,852			321,919
Governmental agency mortgage-backed securities
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost		3,272,439			3,241,966
Debt Securities, Allowance for credit losses	[1]	0			0
Debt Securities, Gross unrealized gains		76,010			43,599
Debt Securities, Gross unrealized losses		(2,112)			(7,307)
Debt securities, Estimated fair value		3,346,337			3,278,258
U.S. corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost		533,446			535,878
Debt Securities, Allowance for credit losses	[1]	(496)			0
Debt Securities, Gross unrealized gains		35,153			18,466
Debt Securities, Gross unrealized losses		(1,428)			(972)
Debt securities, Estimated fair value		566,675			553,372
Foreign corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost		341,947			335,962
Debt Securities, Allowance for credit losses	[1]	(214)			0
Debt Securities, Gross unrealized gains		16,993			9,468
Debt Securities, Gross unrealized losses		(1,205)			(213)
Debt securities, Estimated fair value		$ 357,521			$ 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 nine months ended September 30, 2020.

Debt and Equity Securities (Nar

Debt and Equity Securities (Narrative) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Schedule Of Debt and Equity Securities [Line Items]
Realized gains on sales of debt securities	$ 7,100	$ 3,300	$ 16,400	$ 8,200
Realized losses on sales of debt securities	400	500	3,400	5,200
Proceeds from sale of debt securities	200,100	229,400	694,600	852,100
Accrued interest receivable	26,400		26,400
Realized and unrealized net gains (losses) on equity securities	26,000	200	2,600	41,600
Net unrealized gains (losses) on equity securities	26,100	$ 1,500	2,400	$ 35,900
Debt securities, Estimated fair value	5,939,224		5,939,224		$ 5,913,636
Estimated fair value of debt securities, Unrealized loss position	698,400		698,400		$ 1,663,146
Bank Loans
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	54,900		54,900
Estimated fair value of debt securities, Unrealized loss position	48,500		48,500
Emerging Market Securities
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	65,200		65,200
Estimated fair value of debt securities, Unrealized loss position	3,900		3,900
Non-Investment Grade
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	76,994		76,994
Estimated fair value of debt securities, Unrealized loss position	50,587		50,587
Non-Investment Grade | Bank Loans
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	51,500		51,500
Estimated fair value of debt securities, Unrealized loss position	45,200		45,200
Non-Investment Grade | High Yield Corporate Debt Securities
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	20,300		20,300
Estimated fair value of debt securities, Unrealized loss position	4,200		4,200
Non-Investment Grade | Emerging Market Securities
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	5,200		5,200
Estimated fair value of debt securities, Unrealized loss position	$ 1,200		$ 1,200

Debt and Equity Securities (Gro

Debt and Equity Securities (Gross Unrealized Losses on Investments in Debt Securities) (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value, Less than 12 months	$ 587,414	$ 971,604
Unrealized losses, Less than 12 months	(5,704)	(4,977)
Estimated fair value, 12 months or longer	110,986	691,542
Unrealized losses, 12 months or longer	(542)	(5,265)
Estimated fair value, Total	698,400	1,663,146
Unrealized losses, Total	(6,246)	(10,242)
U.S. Treasury bonds
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value, Less than 12 months	56,635	12,507
Unrealized losses, Less than 12 months	(1)	(350)
Estimated fair value, 12 months or longer	0	3,193
Unrealized losses, 12 months or longer	0	(3)
Estimated fair value, Total	56,635	15,700
Unrealized losses, Total	(1)	(353)
Municipal bonds
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value, Less than 12 months	91,375	29,333
Unrealized losses, Less than 12 months	(1,115)	(207)
Estimated fair value, 12 months or longer	0	2,827
Unrealized losses, 12 months or longer	0	(10)
Estimated fair value, Total	91,375	32,160
Unrealized losses, Total	(1,115)	(217)
Foreign government bonds
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value, Less than 12 months	68,562	112,167
Unrealized losses, Less than 12 months	(215)	(934)
Estimated fair value, 12 months or longer	0	11,001
Unrealized losses, 12 months or longer	0	(27)
Estimated fair value, Total	68,562	123,168
Unrealized losses, Total	(215)	(961)
Governmental agency bonds
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value, Less than 12 months	12,372	24,493
Unrealized losses, Less than 12 months	(170)	(142)
Estimated fair value, 12 months or longer	0	14,923
Unrealized losses, 12 months or longer	0	(77)
Estimated fair value, Total	12,372	39,416
Unrealized losses, Total	(170)	(219)
Governmental agency mortgage-backed securities
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value, Less than 12 months	257,038	719,602
Unrealized losses, Less than 12 months	(1,601)	(2,785)
Estimated fair value, 12 months or longer	109,180	637,009
Unrealized losses, 12 months or longer	(511)	(4,522)
Estimated fair value, Total	366,218	1,356,611
Unrealized losses, Total	(2,112)	(7,307)
U.S. corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value, Less than 12 months	59,593	42,607
Unrealized losses, Less than 12 months	(1,409)	(451)
Estimated fair value, 12 months or longer	1,551	10,216
Unrealized losses, 12 months or longer	(19)	(521)
Estimated fair value, Total	61,144	52,823
Unrealized losses, Total	(1,428)	(972)
Foreign corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value, Less than 12 months	41,839	30,895
Unrealized losses, Less than 12 months	(1,193)	(108)
Estimated fair value, 12 months or longer	255	12,373
Unrealized losses, 12 months or longer	(12)	(105)
Estimated fair value, Total	42,094	43,268
Unrealized losses, Total	$ (1,205)	$ (213)

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	9 Months Ended
		Sep. 30, 2020	Sep. 30, 2020
Investments Debt And Equity Securities [Abstract]
Balance at beginning of period		$ (1,380)	$ 0	[1]
Credit losses recognized during the period		0	(7,493)
Net decreases to credit losses previously recognized		278	3,738
Reductions for securities sold		271	2,924
Reclassification to assets held for sale	[2]	10	10
Balance at end of period	[1]	$ (821)	$ (821)
[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 nine months ended September 30, 2020.
[2]	See Note 2 Disposition of the Property and Casualty Insurance Business for information on assets held for sale.

Debt and Equity Securities (I_2

Debt and Equity Securities (Investments in Debt Securities by Contractual Maturity) (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost	$ 5,732,761	$ 5,796,755
Debt securities, Estimated fair value	5,939,224	5,913,636
U.S. Treasury bonds
Schedule Of Available For Sale Securities [Line Items]
Amortized cost, Due in one year or less	82,169
Amortized cost, Due after one through five years	25,321
Amortized cost, Due after five through ten years	907
Amortized cost, Due after ten years	2,786
Debt Securities, Amortized cost	111,183	143,825
Estimated fair value, Due in one year or less	82,442
Estimated fair value, Due after one through five years	25,755
Estimated fair value, Due after five through ten years	1,023
Estimated fair value, Due after ten years	2,852
Debt securities, Estimated fair value	112,072	143,941
Municipal bonds
Schedule Of Available For Sale Securities [Line Items]
Amortized cost, Due in one year or less	46,100
Amortized cost, Due after one through five years	111,450
Amortized cost, Due after five through ten years	391,718
Amortized cost, Due after ten years	487,234
Debt Securities, Amortized cost	1,036,502	1,043,252
Estimated fair value, Due in one year or less	46,478
Estimated fair value, Due after one through five years	115,646
Estimated fair value, Due after five through ten years	420,952
Estimated fair value, Due after ten years	519,707
Debt securities, Estimated fair value	1,102,783	1,090,839
Foreign government bonds
Schedule Of Available For Sale Securities [Line Items]
Amortized cost, Due in one year or less	48,951
Amortized cost, Due after one through five years	57,372
Amortized cost, Due after five through ten years	60,917
Amortized cost, Due after ten years	14,645
Debt Securities, Amortized cost	181,885	179,554
Estimated fair value, Due in one year or less	48,975
Estimated fair value, Due after one through five years	59,281
Estimated fair value, Due after five through ten years	62,930
Estimated fair value, Due after ten years	15,798
Debt securities, Estimated fair value	186,984	180,090
Governmental agency bonds
Schedule Of Available For Sale Securities [Line Items]
Amortized cost, Due in one year or less	20,045
Amortized cost, Due after one through five years	108,735
Amortized cost, Due after five through ten years	71,939
Amortized cost, Due after ten years	54,640
Debt Securities, Amortized cost	255,359	316,318
Estimated fair value, Due in one year or less	20,197
Estimated fair value, Due after one through five years	112,761
Estimated fair value, Due after five through ten years	74,429
Estimated fair value, Due after ten years	59,465
Debt securities, Estimated fair value	266,852	321,919
U.S. corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Amortized cost, Due in one year or less	9,704
Amortized cost, Due after one through five years	307,185
Amortized cost, Due after five through ten years	145,883
Amortized cost, Due after ten years	70,674
Debt Securities, Amortized cost	533,446	535,878
Estimated fair value, Due in one year or less	9,771
Estimated fair value, Due after one through five years	325,903
Estimated fair value, Due after five through ten years	154,727
Estimated fair value, Due after ten years	76,274
Debt securities, Estimated fair value	566,675	553,372
Foreign corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Amortized cost, Due in one year or less	11,204
Amortized cost, Due after one through five years	188,095
Amortized cost, Due after five through ten years	99,704
Amortized cost, Due after ten years	42,944
Debt Securities, Amortized cost	341,947	335,962
Estimated fair value, Due in one year or less	11,281
Estimated fair value, Due after one through five years	196,961
Estimated fair value, Due after five through ten years	105,032
Estimated fair value, Due after ten years	44,247
Debt securities, Estimated fair value	357,521	$ 345,217
Debt Securities Excluding Mortgage Backed Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized cost, Due in one year or less	218,173
Amortized cost, Due after one through five years	798,158
Amortized cost, Due after five through ten years	771,068
Amortized cost, Due after ten years	672,923
Debt Securities, Amortized cost	2,460,322
Estimated fair value, Due in one year or less	219,144
Estimated fair value, Due after one through five years	836,307
Estimated fair value, Due after five through ten years	819,093
Estimated fair value, Due after ten years	718,343
Debt securities, Estimated fair value	2,592,887
Total Mortgage-Backed Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized cost	3,272,439
Estimated fair value	$ 3,346,337

Debt and Equity Securities (I_3

Debt and Equity Securities (Investments in Equity Securities) (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Debt And Equity Securities F V N I [Line Items]
Equity securities, Cost	$ 353,509	$ 349,959
Equity securities, Estimated fair value	393,180	392,318
Preferred stocks
Debt And Equity Securities F V N I [Line Items]
Equity securities, Cost	21,335	21,849
Equity securities, Estimated fair value	17,244	18,094
Common stocks
Debt And Equity Securities F V N I [Line Items]
Equity securities, Cost	332,174	328,110
Equity securities, Estimated fair value	$ 375,936	$ 374,224

Debt and Equity Securities (Com

Debt and Equity Securities (Composition of Investment Portfolio by Credit Rating Agencies) (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 5,939,224	$ 5,913,636
Equity securities, Estimated fair value	393,180	392,318
Estimated fair value, Total	$ 5,956,468
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	$ 112,072	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	$ 1,102,783	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	$ 186,984	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	$ 266,852	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	$ 3,346,337	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	$ 566,675	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	$ 357,521	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	$ 17,244	$ 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	$ 5,376,852
Estimated fair value, Total	$ 5,376,896
Percentage of debt securities by credit rating agencies	90.50%
Percentage of investment portfolio by credit rating agencies	90.30%
Investment Grade | BBB+ to BBB-
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 485,378
Estimated fair value, Total	$ 501,441
Percentage of debt securities by credit rating agencies	8.20%
Percentage of investment portfolio by credit rating agencies	8.40%
Investment Grade | U.S. Treasury bonds | A- or Higher
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 112,072
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	$ 1,065,632
Percentage of debt securities by credit rating agencies	96.60%
Investment Grade | Municipal bonds | BBB+ to BBB-
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 37,151
Percentage of debt securities by credit rating agencies	3.40%
Investment Grade | Foreign government bonds | A- or Higher
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 170,806
Percentage of debt securities by credit rating agencies	91.30%
Investment Grade | Foreign government bonds | BBB+ to BBB-
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 13,686
Percentage of debt securities by credit rating agencies	7.40%
Investment Grade | Governmental agency bonds | A- or Higher
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 266,852
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	$ 3,346,337
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	$ 266,057
Percentage of debt securities by credit rating agencies	47.00%
Investment Grade | U.S. corporate debt securities | BBB+ to BBB-
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 246,872
Percentage of debt securities by credit rating agencies	43.50%
Investment Grade | Foreign corporate debt securities | A- or Higher
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 149,096
Percentage of debt securities by credit rating agencies	41.70%
Investment Grade | Foreign corporate debt securities | BBB+ to BBB-
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 187,669
Percentage of debt securities by credit rating agencies	52.50%
Investment Grade | Preferred stocks | A- or Higher
Schedule Of Debt and Equity Securities [Line Items]
Equity securities, Estimated fair value	$ 44
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	$ 16,063
Percentage of equity securities by credit rating agencies	93.10%
Non-Investment Grade
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 76,994
Estimated fair value, Total	$ 78,131
Percentage of debt securities by credit rating agencies	1.30%
Percentage of investment portfolio by credit rating agencies	1.30%
Non-Investment Grade | Foreign government bonds
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 2,492
Percentage of debt securities by credit rating agencies	1.30%
Non-Investment Grade | U.S. corporate debt securities
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 53,746
Percentage of debt securities by credit rating agencies	9.50%
Non-Investment Grade | Foreign corporate debt securities
Schedule Of Debt and Equity Securities [Line Items]
Debt securities, Estimated fair value	$ 20,756
Percentage of debt securities by credit rating agencies	5.80%
Non-Investment Grade | Preferred stocks
Schedule Of Debt and Equity Securities [Line Items]
Equity securities, Estimated fair value	$ 1,137
Percentage of equity securities by credit rating agencies	6.60%

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	Sep. 30, 2020	Dec. 31, 2019
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 698,400	$ 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	$ 56,635	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	$ 91,375	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	$ 68,562	123,168
Percentage of debt securities in unrealized loss position	100.00%
Governmental agency bonds
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 12,372	39,416
Percentage of debt securities in unrealized loss position	100.00%
Governmental agency mortgage-backed securities
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 366,218	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	$ 61,144	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	$ 42,094	$ 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	$ 616,034
Percentage of debt securities in unrealized loss position	88.20%
Investment Grade | BBB+ to BBB-
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 31,779
Percentage of debt securities in unrealized loss position	4.60%
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	$ 56,635
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	$ 80,589
Percentage of debt securities in unrealized loss position	88.20%
Investment Grade | Municipal bonds | BBB+ to BBB-
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 10,786
Percentage of debt securities in unrealized loss position	11.80%
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	$ 68,227
Percentage of debt securities in unrealized loss position	99.50%
Investment Grade | Foreign government bonds | BBB+ to BBB-
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 335
Percentage of debt securities in unrealized loss position	0.50%
Investment Grade | Governmental agency bonds | A- or Higher
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 12,372
Percentage of debt securities in unrealized loss position	100.00%
Investment Grade | Governmental agency mortgage-backed securities | A- or Higher
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 366,218
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	$ 13,148
Percentage of debt securities in unrealized loss position	21.50%
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	$ 8,436
Percentage of debt securities in unrealized loss position	13.80%
Investment Grade | Foreign corporate debt securities | A- or Higher
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 18,845
Percentage of debt securities in unrealized loss position	44.80%
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	$ 12,222
Percentage of debt securities in unrealized loss position	29.00%
Non-Investment Grade
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 50,587
Percentage of debt securities in unrealized loss position	7.20%
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	$ 39,560
Percentage of debt securities in unrealized loss position	64.70%
Non-Investment Grade | Foreign corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 11,027
Percentage of debt securities in unrealized loss position	26.20%

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	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Receivables [Abstract]
Balance at beginning of period	$ 12,172	$ 12,676
Provision for expected credit losses	1,526	4,547
Reclassification to assets held for sale	(365)	(365)
Write-offs, net of recoveries	(733)	(4,258)
Balance at end of period	$ 12,600	$ 12,600

Credit Losses - Financial Ass_4

Credit Losses - Financial Assets and Off - Balance Sheet Credit Exposures - Additional Information (Details) $ in Millions	Sep. 30, 2020USD ($)
Receivables [Abstract]
Accrued interest receivable	$ 2.5

Goodwill (Carrying Amount of Go

Goodwill (Carrying Amount of Goodwill by Reportable Segment) (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Goodwill [Line Items]
Goodwill, Gross Begining Balance		$ 1,150,908
Accumulated impairment losses Begining Balance		0
Begining Balance at December 31, 2019		1,150,908
Acquisitions		240,436
Dispositions		(358)
Impairment losses	$ (34,200)	(34,178)
Foreign currency translation		(1,519)
Goodwill, Gross Ending Balance	1,389,467	1,389,467
Accumulated impairment losses Ending Balance	(34,178)	(34,178)
Ending Balance at September 30, 2020	1,355,289	1,355,289
Title Insurance and Services
Goodwill [Line Items]
Goodwill, Gross Begining Balance		1,104,143
Accumulated impairment losses Begining Balance		0
Begining Balance at December 31, 2019		1,104,143
Acquisitions		240,436
Dispositions		(358)
Impairment losses		0
Foreign currency translation		(1,519)
Goodwill, Gross Ending Balance	1,342,702	1,342,702
Accumulated impairment losses Ending Balance	0	0
Ending Balance at September 30, 2020	1,342,702	1,342,702
Specialty Insurance
Goodwill [Line Items]
Goodwill, Gross Begining Balance		46,765
Accumulated impairment losses Begining Balance		0
Begining Balance at December 31, 2019		46,765
Acquisitions		0
Dispositions		0
Impairment losses		(34,178)
Foreign currency translation		0
Goodwill, Gross Ending Balance	46,765	46,765
Accumulated impairment losses Ending Balance	(34,178)	(34,178)
Ending Balance at September 30, 2020	$ 12,587	$ 12,587

Goodwill (Narrative) (Detail)

Goodwill (Narrative) (Detail) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020USD ($)	Sep. 30, 2020USD ($)ReportingUnit
Goodwill And Intangible Assets Disclosure [Abstract]
Number of reporting units | ReportingUnit		4
Goodwill impairment loss | $	$ 34,200	$ 34,178

Other Intangible Assets (Schedu

Other Intangible Assets (Schedule of Other Intangible Assets) (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Intangible Assets Net Excluding Goodwill [Abstract]
Customer relationships	$ 167,278	$ 99,905
Noncompete agreements	38,045	13,150
Trademarks	23,344	10,520
Internal-use software licenses	22,820	21,982
Patents	2,840	2,840
Finite-lived intangible assets, gross	254,327	148,397
Accumulated amortization	(74,423)	(73,449)
Finite-lived intangible assets, net	179,904	74,948
Licenses	16,787	16,885
Other intangibles assets, net	$ 196,691	$ 91,833

Other Intangible Assets (Narrat

Other Intangible Assets (Narrative) (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Intangible Assets Net Excluding Goodwill [Abstract]
Amortization expense	$ 11.6	$ 6.7	$ 31.4	$ 22
Customer Relationships
Intangible Assets Net Excluding Goodwill [Abstract]
Pretax impairment losses on finite-lived intangible assets	$ 3.2		$ 3.2

Other Intangible Assets (Estima

Other Intangible Assets (Estimated Amortization Expense for Finite-Lived Intangible Assets) (Detail) $ in Thousands	Sep. 30, 2020USD ($)
Intangible Assets Net Excluding Goodwill [Abstract]
Remainder of 2020	$ 11,141
2021	37,722
2022	33,858
2023	30,353
2024	23,293
2025	$ 17,174

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		9 Months Ended
		Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 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				379,987	325,012
Provision related to prior years				34,014	6,513
Total Provision		$ 157,836	$ 124,683	414,001	331,525
Payments, net of recoveries, related to: Current year				179,654	158,285
Payments, net of recoveries, related to: Prior years				163,067	146,889
Total Payments, net of recoveries				342,721	305,174
Other				(3,882)	(14,306)
Reclassification to liabilities held for sale	[1]			(60,583)
Balance at end of period		$ 1,069,859	$ 1,054,724	$ 1,069,859	$ 1,054,724
[1]	See Note 2 Disposition of the Property and Casualty Insurance Business for information on liabilities held for sale.

Reserve for Known and Incurre_4

Reserve for Known and Incurred but Not Reported Claims (Narrative) (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 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			$ 7	$ 0
Decrease in Company’s incurred title claims	21.00%		18.10%

Reserve for Known and Incurre_5

Reserve for Known and Incurred but Not Reported Claims (Summary of Loss Reserves) (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2018
Insurance [Abstract]
Known title claims, amount	$ 63,865	$ 83,382
Incurred but not reported claims, amount	981,837	903,994
Total title claims, amount	1,045,702	987,376
Non-title claims, amount	24,157	75,668
Total loss reserves, amount	$ 1,069,859	$ 1,063,044	$ 1,054,724	$ 1,042,679
Known title claims, percent	6.00%	7.80%
Incurred but not reported claims, percent	91.70%	85.10%
Total title claims, percent	97.70%	92.90%
Non-title claims, percent	2.30%	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	Sep. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Notes and contracts payable		$ 1,011,758	$ 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		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Effective income tax rates	24.60%	23.30%	22.50%	21.30%
Federal income tax rates			21.00%
Liability for income taxes associated with uncertain tax positions	$ 7,000		$ 7,000		$ 1,500
Offsetting tax benefits related to uncertain tax positions	$ 2,000		2,000		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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share [Abstract]
Net income attributable to the Company	$ 182,279	$ 187,182	$ 416,138	$ 483,412
Basic weighted-average shares	112,584	113,163	112,913	112,983
Effect of dilutive employee stock options and restricted stock units (“RSUs”)	259	578	263	526
Diluted weighted-average shares	112,843	113,741	113,176	113,509
Basic	$ 1.62	$ 1.65	$ 3.69	$ 4.28
Diluted	$ 1.62	$ 1.65	$ 3.68	$ 4.26

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Detail) - shares shares in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 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	172	284
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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Defined Benefit Plan Net Periodic Benefit Cost [Abstract]
Service costs	$ 44	$ 70	$ 134	$ 211
Interest costs	1,781	2,280	5,343	6,838
Amortization of net actuarial loss	1,321	916	3,961	2,746
Amortization of prior service credit	(777)	(1,018)	(2,331)	(3,053)
Net periodic costs	$ 2,369	$ 2,248	$ 7,107	$ 6,742

Employee Benefit Plans (Narrati

Employee Benefit Plans (Narrative) (Detail) - Unfunded Supplemental Benefit Plans $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)
Defined Benefit Plan Disclosure [Line Items]
Contribution for pension obligation	$ 10.8
Cash contribution to plans during the remainder	$ 4.6

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value of Assets Measured on Recurring Basis) (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	$ 5,939,224	$ 5,913,636
Equity securities, estimated fair value	393,180	392,318
Debt and Equity securities, estimated fair value	6,332,404	6,305,954
U.S. Treasury bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	112,072	143,941
Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	1,102,783	1,090,839
Foreign government bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	186,984	180,090
Governmental agency bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	266,852	321,919
Governmental agency mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	3,346,337	3,278,258
U.S. corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	566,675	553,372
Foreign corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	357,521	345,217
Preferred stocks
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Equity securities, estimated fair value	17,244	18,094
Common Stock
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Equity securities, estimated fair value	375,936	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	393,180	392,318
Debt and Equity securities, estimated fair value	393,180	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	17,244	18,094
Level 1 | Common Stock
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Equity securities, estimated fair value	375,936	374,224
Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	5,939,224	5,913,636
Equity securities, estimated fair value	0	0
Debt and Equity securities, estimated fair value	5,939,224	5,913,636
Level 2 | U.S. Treasury bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	112,072	143,941
Level 2 | Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	1,102,783	1,090,839
Level 2 | Foreign government bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	186,984	180,090
Level 2 | Governmental agency bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	266,852	321,919
Level 2 | Governmental agency mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	3,346,337	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	566,675	553,372
Level 2 | Foreign corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	357,521	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 ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Dec. 31, 2019
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value assets, Level 1 to Level 2 transfers amount	$ 0	$ 0	$ 0
Fair value assets, Level 2 to Level 1 transfers amount	0	0	0
Fair Value Assets Level 1 To Level 3 Transfers Amount	0	0	0
Fair Value Assets Level 3 To Level 1 Transfers Amount	0	0	0
Fair Value Assets Level 2 To Level 3 Transfers Amount	0	0	0
Fair Value Assets Level 3 To Level 2 Transfers Amount	0	0	$ 0
Goodwill
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Recognized impairment losses	34,200,000	34,200,000
Property Plant And Equipment
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Recognized impairment losses	17,600,000	17,600,000
Other Intangible Assets
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Recognized impairment losses	$ 3,200,000	$ 3,200,000

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	Sep. 30, 2020	Dec. 31, 2019
Carrying Amount
Assets:
Cash and cash equivalents	$ 1,512,369	$ 1,485,959
Deposits with banks	41,551	44,422
Notes receivable, net	29,986	18,970
Secured financings receivable	722,156	287,459
Liabilities:
Secured financings payable	526,544	278,412
Notes and contracts payable	1,011,758	728,232
Estimated Fair Value
Assets:
Cash and cash equivalents	1,512,369	1,485,959
Deposits with banks	41,687	44,339
Notes receivable, net	28,851	19,422
Secured financings receivable	722,156	287,459
Liabilities:
Secured financings payable	526,544	278,412
Notes and contracts payable	1,114,323	761,224
Estimated Fair Value | Level 1
Assets:
Cash and cash equivalents	1,512,369	1,485,959
Deposits with banks	3,194	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	38,493	40,265
Notes receivable, net	0	0
Secured financings receivable	722,156	287,459
Liabilities:
Secured financings payable	526,544	278,412
Notes and contracts payable	1,107,735	756,306
Estimated Fair Value | Level 3
Assets:
Cash and cash equivalents	0	0
Deposits with banks	0	0
Notes receivable, net	28,851	19,422
Secured financings receivable	0	0
Liabilities:
Secured financings payable	0	0
Notes and contracts payable	$ 6,588	$ 4,918

Share-Based Compensation (Costs

Share-Based Compensation (Costs Associated with Share-Based Compensation Plans) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation	$ 8,404	$ 7,556	$ 44,000	$ 34,911
RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation	7,049	6,608	39,763	31,761
Employee stock purchase plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation	$ 1,355	$ 948	$ 4,237	$ 3,150

Share-Based Compensation (Summa

Share-Based Compensation (Summary of RSU Activity) (Detail) - RSUs shares in Thousands	9 Months Ended
	Sep. 30, 2020$ / sharesshares
RSU, Shares
Unvested at December 31, 2019 | shares	1,152
Granted during 2020 | shares	763
Vested during 2020 | shares	(982)
Forfeited during 2020 | shares	(39)
Unvested at September 30, 2020 | shares	894
RSU, Weighted-average grant-date fair value
Unvested at December 31, 2019 | $ / shares	$ 49.25
Granted during 2020 | $ / shares	63.88
Vested during 2020 | $ / shares	53
Forfeited during 2020 | $ / shares	58.16
Unvested at September 30, 2020 | $ / shares	$ 57.23

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Detail) shares in Thousands, $ in Millions	3 Months Ended	9 Months Ended	115 Months Ended
	Sep. 30, 2020USD ($)shares	Sep. 30, 2020USD ($)shares	Sep. 30, 2020USD ($)shares
Remaining authorized amount under stock repurchase program	$ 92.7	$ 92.7	$ 92.7
Common stock repurchased, shares | shares	0	1,800	5,400
Purchase of Company, value		$ 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		9 Months Ended
		Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 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				97,031
Change in unrealized gains (losses) on debt securities for which credit-related portion was recognized in earnings				186
Change in foreign currency translation adjustment				(9,498)
Amortization of net actuarial loss				3,961
Amortization of prior service credit				(2,331)
Tax effect		$ (1,387)	$ (3,423)	(24,044)	$ (38,752)
Accumulated other comprehensive income (loss), net of tax, Ending Balance		23,813		23,813
Stockholders equity attributable to noncontrolling interest, Ending Balance		11,165		11,165
Accumulated other comprehensive income (loss) including non-controlling interest, Ending Balance		23,814		23,814
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				97,031
Change in unrealized gains (losses) on debt securities for which credit-related portion was recognized in earnings				186
Tax effect				(24,000)
Accumulated other comprehensive income (loss), debt securities, available-for-sale, adjustment, after tax, Ending Balance		156,334		156,334
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				(9,498)
Tax effect				389
Accumulated other comprehensive income (loss), foreign currency translation adjustment, net of tax, Ending Balance		(60,777)		(60,777)
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]	1,321	916	3,961	2,746
Amortization of prior service credit	[1]	(777)	$ (1,018)	(2,331)	$ (3,053)
Tax effect				(433)
Accumulated other comprehensive (income) Loss, defined benefit plan, after Tax, Ending Balance		(71,744)		(71,744)
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				97,031
Change in unrealized gains (losses) on debt securities for which credit-related portion was recognized in earnings				186
Change in foreign currency translation adjustment				(9,498)
Amortization of net actuarial loss				3,961
Amortization of prior service credit				(2,331)
Tax effect				(24,044)
Accumulated other comprehensive income (loss), net of tax, Ending Balance		23,813		23,813
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 12 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						9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019
Accumulated Other Comprehensive Income Loss [Line Items]
Pretax change before reclassifications	$ 19,927			$ 11,734			$ 92,894	$ 169,793
Reclassifications out of AOCI	(6,083)			(2,267)			(3,545)	(2,137)
Tax effect	(1,387)			(3,423)			(24,044)	(38,752)
Total other comprehensive income, net of tax	12,457	$ 73,301	$ (20,453)	6,044	$ 56,543	$ 66,317	65,305	128,904
Unrealized Gains (Losses) on Debt Securities
Accumulated Other Comprehensive Income Loss [Line Items]
Pretax change before reclassifications	9,110			19,348			102,392	166,647
Reclassifications out of AOCI	(6,627)			(2,165)			(5,175)	(1,830)
Tax effect	(499)			(3,690)			(24,000)	(38,645)
Total other comprehensive income, net of tax	1,984			13,493			73,217	126,172
Foreign Currency Translation Adjustment
Accumulated Other Comprehensive Income Loss [Line Items]
Pretax change before reclassifications	10,817			(7,614)			(9,498)	3,146
Reclassifications out of AOCI	0			0			0	0
Tax effect	(743)			241			389	(187)
Total other comprehensive income, net of tax	10,074			(7,373)			(9,109)	2,959
Pension Benefit Adjustment
Accumulated Other Comprehensive Income Loss [Line Items]
Pretax change before reclassifications	0			0			0	0
Reclassifications out of AOCI	544			(102)			1,630	(307)
Tax effect	(145)			26			(433)	80
Total other comprehensive income, net of tax	$ 399			$ (76)			$ 1,197	$ (227)

Accumulated Other Comprehensi_5

Accumulated Other Comprehensive Income (Loss) (Reclassifications Out of AOCI) (Detail) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Credit losses recognized on debt securities				$ (186)
Pretax total		$ 6,083	$ 2,267	3,545	$ 2,137
Amortization of net actuarial loss				(3,961)
Amortization of prior service credit				2,331
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		6,694	2,165	12,749	1,830
Credit losses recognized on debt securities		(67)	0	(7,574)	0
Pretax total		6,627	2,165	5,175	1,830
Tax effect		(1,322)	(465)	(1,278)	(429)
Pension Benefit Adjustment Attributable to First American Financial Corporation
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Pretax total	[1]	(544)	102	(1,630)	307
Tax effect	[1]	145	(26)	433	(80)
Amortization of net actuarial loss	[1]	(1,321)	(916)	(3,961)	(2,746)
Amortization of prior service credit	[1]	$ 777	$ 1,018	$ 2,331	$ 3,053
[1]	These components of AOCI are components of net periodic cost.  See Note 12 Employee Benefit Plans for additional details.

Litigation and Regulatory Con_2

Litigation and Regulatory Contingencies (Narrative) (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)
Canadian Taxing Authority
Loss Contingencies [Line Items]
Income tax authority assessment	$ 14.9

Business Combinations (Narrativ

Business Combinations (Narrative) (Detail) - USD ($) $ in Thousands	Mar. 02, 2020	Sep. 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		1,355,289	$ 1,150,908
eClose and Fulfillment Technology
Business Acquisition [Line Items]
Business acquisition cost	$ 350,000
Goodwill		201,900
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)	9 Months Ended
	Sep. 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	35
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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Revenues	$ 1,913,721	$ 1,671,196	$ 4,935,393	$ 4,473,397
Income (loss) before income taxes	243,371	245,338	540,990	616,505
Depreciation and amortization	38,227	31,719	110,652	97,537
Capital expenditures	35,148	24,884	94,471	79,026
Direct premiums and escrow fees	807,947	728,610	2,080,568	1,910,830
Agent premiums	722,434	656,154	1,920,011	1,701,538
Information and other	285,882	208,297	728,563	581,858
Net investment income	52,466	76,628	156,760	236,607
Net realized investment gains (losses)	44,992	1,507	49,491	42,564
Operating Segments
Segment Reporting Information [Line Items]
Revenues	1,908,325	1,669,931	4,927,376	4,459,135
Direct premiums and escrow fees	807,947	728,610	2,080,568	1,910,830
Agent premiums	722,434	656,154	1,920,011	1,701,538
Information and other	286,121	208,552	729,188	582,640
Net investment income	46,831	75,108	154,633	221,563
Net realized investment gains (losses)	44,992	1,507	42,976	42,564
Operating Segments | Title Insurance and Services
Segment Reporting Information [Line Items]
Revenues	1,771,993	1,540,741	4,535,558	4,084,795
Income (loss) before income taxes	337,480	253,570	648,261	628,392
Depreciation and amortization	36,194	29,822	104,705	92,043
Capital expenditures	33,034	22,869	86,456	71,839
Direct premiums and escrow fees	680,910	606,812	1,712,946	1,561,926
Agent premiums	722,434	656,154	1,920,011	1,701,538
Information and other	282,671	205,282	719,196	573,150
Net investment income	44,726	72,044	147,628	213,067
Net realized investment gains (losses)	41,252	449	35,777	35,114
Operating Segments | Specialty Insurance
Segment Reporting Information [Line Items]
Revenues	136,332	129,190	391,818	374,340
Income (loss) before income taxes	(72,129)	11,021	(51,954)	44,546
Depreciation and amortization	1,995	1,859	5,832	5,379
Capital expenditures	2,114	2,015	8,015	7,187
Direct premiums and escrow fees	127,037	121,798	367,622	348,904
Agent premiums	0	0	0	0
Information and other	3,450	3,270	9,992	9,490
Net investment income	2,105	3,064	7,005	8,496
Net realized investment gains (losses)	3,740	1,058	7,199	7,450
Corporate
Segment Reporting Information [Line Items]
Revenues	6,055	1,770	9,260	15,456
Income (loss) before income taxes	(21,980)	(19,253)	(55,317)	(56,433)
Depreciation and amortization	38	38	115	115
Capital expenditures	0	0	0	0
Eliminations
Segment Reporting Information [Line Items]
Revenues	(659)	(505)	(1,243)	(1,194)
Income (loss) before income taxes	0	0	0	0
Depreciation and amortization	0	0	0	0
Capital expenditures	$ 0	$ 0	$ 0	$ 0