First American Financial (FAF) 10-Q 23 Jul 21 2021 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2021	Jul. 19, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
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		109,919,919
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	001-34580
Entity Tax Identification Number	26-1911571
Entity Address, Address Line One	1 First American Way
Entity Address, City or Town	Santa Ana
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92707-5913
City Area Code	714
Local Phone Number	250-3000
Title of 12(b) Security	Common stock, $0.00001 par value
Security Exchange Name	NYSE
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Assets
Cash and cash equivalents	$ 2,222,675	$ 1,275,466
Accounts and accrued income receivable, less allowance for credit losses of $12,439 and $13,994	419,279	385,086
Income taxes receivable	7,406	951
Investments:
Deposits with banks	49,037	45,856
Debt securities, includes pledged securities of $94,658 and $93,586 (amortized cost$7,727,800 and $6,121,004; allowance for credit losses of $105 and $132)	7,879,744	6,354,822
Equity securities	886,133	750,011
Investments, Total	8,814,914	7,150,689
Secured financings receivable	712,530	748,312
Property and equipment, net	453,919	445,132
Operating lease assets	251,334	265,963
Title plants and other indexes	585,312	584,785
Deferred income taxes	14,484	14,484
Goodwill	1,378,067	1,378,628
Other intangible assets, net	177,926	194,474
Other assets	389,039	352,018
Total assets	15,426,885	12,795,988
Liabilities and Equity
Deposits	5,357,337	3,276,949
Accounts payable and accrued liabilities	1,070,783	979,733
Deferred revenue	250,243	271,977
Reserve for known and incurred but not reported claims	1,242,510	1,178,004
Income taxes payable	42,768	53,784
Deferred income taxes	291,220	291,220
Operating lease liabilities	277,977	295,762
Secured financings payable	610,954	516,155
Notes and contracts payable	1,008,241	1,010,756
Total liabilities	10,152,033	7,874,340
Commitments and contingencies (Note 17)
Stockholders’ equity:
Preferred stock, $0.00001 par value; Authorized—500 shares; Outstanding—none
Common stock, $0.00001 par value; Authorized—300,000 shares; Outstanding—109,919 shares and 110,353 shares	1	1
Additional paid-in capital	2,186,926	2,214,935
Retained earnings	3,088,627	2,655,495
Accumulated other comprehensive (loss) income	(11,810)	39,541
Total stockholders’ equity	5,263,744	4,909,972
Noncontrolling interests	11,108	11,676
Total equity	5,274,852	4,921,648
Total liabilities and equity	$ 15,426,885	$ 12,795,988

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Statement Of Financial Position [Abstract]
Accounts and accrued income receivable, allowances	$ 12,439	$ 13,994
Debt securities, amortized cost	7,727,800	6,121,004
Debt securities, allowance for credit losses	105	132
Pledged securities included in debt securities	$ 94,658	$ 93,586
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	109,919	110,353

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenues
Direct premiums and escrow fees	$ 917,451	$ 651,984	$ 1,703,126	$ 1,272,621
Agent premiums	904,897	597,895	1,750,189	1,197,577
Information and other	301,439	231,169	580,331	442,681
Net investment income	56,074	58,420	105,127	104,294
Net realized investment gains	86,514	69,261	153,347	4,499
Total Revenues	2,266,375	1,608,729	4,292,120	3,021,672
Expenses
Personnel costs	588,266	451,487	1,123,448	881,147
Premiums retained by agents	718,424	472,398	1,389,725	947,779
Other operating expenses	330,719	250,088	626,122	507,328
Provision for policy losses and other claims	149,930	138,688	290,377	256,165
Depreciation and amortization	40,939	40,976	79,237	72,425
Premium taxes	22,467	16,354	45,053	33,669
Interest	16,214	13,443	32,720	25,540
Total expenses	1,866,959	1,383,434	3,586,682	2,724,053
Income before income taxes	399,416	225,295	705,438	297,619
Income taxes	96,008	53,601	167,572	62,079
Net income	303,408	171,694	537,866	235,540
Less: Net income attributable to noncontrolling interests	1,109	1,039	1,951	1,681
Net income attributable to the Company	$ 302,299	$ 170,655	$ 535,915	$ 233,859
Net income per share attributable to the Company's stockholders (Note 11):
Basic	$ 2.73	$ 1.52	$ 4.83	$ 2.07
Diluted	2.72	1.52	4.81	2.06
Cash dividends declared per share	$ 0.46	$ 0.44	$ 0.92	$ 0.88
Weighted-average common shares outstanding (Note 11):
Basic	110,866	112,309	111,001	112,939
Diluted	111,177	112,555	111,303	113,270

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 303,408	$ 171,694	$ 537,866	$ 235,540
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) on debt securities	37,590	58,467	(61,863)	71,086
Unrealized gains (losses) on debt securities for which credit-related portion was recognized in earnings	16	62	(277)	147
Foreign currency translation adjustment	5,410	14,373	8,784	(19,183)
Pension benefit adjustment	1,002	399	2,004	798
Total other comprehensive income (loss), net of tax	44,018	73,301	(51,352)	52,848
Comprehensive income	347,426	244,995	486,514	288,388
Less: Comprehensive income attributable to noncontrolling interests	1,109	1,039	1,950	1,681
Comprehensive income attributable to the Company	$ 346,317	$ 243,956	$ 484,564	$ 286,707

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 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
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 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 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
Net income	235,540
Other comprehensive income (loss)	52,848
Balance 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
Balance 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 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
Balance at Dec. 31, 2020	$ 4,921,648	$ 1	2,214,935	2,655,495	39,541	4,909,972	11,676
Balance, Shares at Dec. 31, 2020	110,353	110,353
Net income	$ 234,458	$ 0	0	233,616	0	233,616	842
Dividends on common shares	(50,985)	0	0	(50,985)	0	(50,985)	0
Purchase of Company shares	(64,786)	$ 0	(64,786)	0	0	(64,786)	0
Purchase of Company shares, shares		(1,226)
Shares issued in connection with share-based compensation	(8,378)	$ 0	(7,493)	(885)	0	(8,378)	0
Shares issued in connection with share-based compensation, shares		614
Share-based compensation	31,203	$ 0	31,203	0	0	31,203	0
Net activity related to noncontrolling interests	(2,115)	0	0	0	0	0	(2,115)
Other comprehensive income (loss)	(95,370)	0	0	0	(95,369)	(95,369)	(1)
Balance at Mar. 31, 2021	4,965,675	$ 1	2,173,859	2,837,241	(55,828)	4,955,273	10,402
Balance, Shares at Mar. 31, 2021		109,741
Balance at Dec. 31, 2020	$ 4,921,648	$ 1	2,214,935	2,655,495	39,541	4,909,972	11,676
Balance, Shares at Dec. 31, 2020	110,353	110,353
Net income	$ 537,866
Other comprehensive income (loss)	(51,352)
Balance at Jun. 30, 2021	$ 5,274,852	$ 1	2,186,926	3,088,627	(11,810)	5,263,744	11,108
Balance, Shares at Jun. 30, 2021	109,919	109,919
Balance at Mar. 31, 2021	$ 4,965,675	$ 1	2,173,859	2,837,241	(55,828)	4,955,273	10,402
Balance, Shares at Mar. 31, 2021		109,741
Net income	303,408	$ 0	0	302,299	0	302,299	1,109
Dividends on common shares	(50,058)	0	0	(50,058)	0	(50,058)	0
Shares issued in connection with share-based compensation	4,111	$ 0	4,966	(855)	0	4,111	0
Shares issued in connection with share-based compensation, shares		178
Share-based compensation	8,165	$ 0	8,165	0	0	8,165	0
Net activity related to noncontrolling interests	(467)	0	(64)	0	0	(64)	(403)
Other comprehensive income (loss)	44,018	0	0	0	44,018	44,018	0
Balance at Jun. 30, 2021	$ 5,274,852	$ 1	$ 2,186,926	$ 3,088,627	$ (11,810)	$ 5,263,744	$ 11,108
Balance, Shares at Jun. 30, 2021	109,919	109,919

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net income	$ 537,866	$ 235,540
Adjustments to reconcile net income to cash provided by operating activities:
Provision for policy losses and other claims	290,377	256,165
Depreciation and amortization	79,237	72,425
Amortization of premiums and accretion of discounts on debt securities, net	21,593	20,162
Net realized investment gains	(153,347)	(4,499)
Share-based compensation	39,368	35,596
Equity in earnings of equity method investments, net	(3,533)	(1,121)
Dividends from equity method investments	5,979	2,674
Changes in assets and liabilities excluding effects of acquisitions and noncash transactions:
Claims paid, including assets acquired, net of recoveries	(231,421)	(214,594)
Net change in income tax accounts	952	58,132
Increase in accounts and accrued income receivable	(31,027)	(29,006)
Decrease in accounts payable and accrued liabilities	(51,630)	(74,602)
Decrease in deferred revenue	(21,757)	(2,846)
Other, net	(5,688)	13,924
Cash provided by operating activities	476,969	367,950
Cash flows from investing activities:
Net cash effect of acquisitions/dispositions	(3,640)	(386,231)
Net (increase) decrease in deposits with banks	(4,118)	3,769
Purchases of debt securities	(3,036,117)	(1,111,215)
Proceeds from sales of debt securities	679,952	494,552
Proceeds from maturities of debt securities	891,252	702,670
Purchases of equity securities	(71,673)	(158,527)
Proceeds from sales of equity securities	73,430	88,865
Net change in notes receivable	(48,711)	(3,264)
Advances under secured financing agreements	(12,426,536)	(6,317,790)
Collections of secured financings receivable	12,462,318	6,025,653
Capital expenditures	(67,535)	(58,045)
Proceeds from sales of property and equipment	12,866	13,934
Proceeds from insurance settlement	6,611	123
Cash used for investing activities	(1,531,901)	(705,506)
Cash flows from financing activities:
Net change in deposits	2,080,388	80,346
Borrowings under secured financing agreements	11,078,385	6,235,457
Repayments of secured financings payable	(10,983,586)	(6,035,271)
Net proceeds from issuance of unsecured senior notes	0	443,753
Borrowings under unsecured credit facility	0	120,000
Repayments of borrowings under unsecured credit facility	0	(280,000)
Repayments of notes and contracts payable	(3,175)	(2,658)
Net activity related to noncontrolling interests	(2,561)	(1,732)
Net payments in connection with share-based compensation	(4,267)	(9,897)
Repurchases of Company shares	(64,786)	(68,864)
Payments of cash dividends	(101,043)	(98,698)
Cash provided by financing activities	1,999,355	382,436
Effect of exchange rate changes on cash	2,786	(7,495)
Net increase in cash and cash equivalents	947,209	37,385
Cash and cash equivalents—Beginning of period	1,275,466	1,485,959
Cash and cash equivalents—End of period	2,222,675	1,523,344
Supplemental information:
Interest	31,860	20,371
Premium taxes	49,308	42,098
Income taxes, less refunds of $33 and $2,692	$ 166,592	$ 4,283

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Statement Of Cash Flows [Abstract]
Income taxes, refunds	$ 33	$ 2,692

Basis of Condensed Consolidated

Basis of Condensed Consolidated Financial Statements	6 Months Ended
	Jun. 30, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Condensed Consolidated Financial Statements	Note 1 – Basis of Condensed Consolidated Financial Statements Basis of Presentation The condensed consolidated financial information included in this report has been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and Article 10 of Securities and Exchange Commission (“SEC”) Regulation S-X. The principles for condensed interim financial information do not require the inclusion of all the information and footnotes required by GAAP for complete financial statements. Therefore, these financial statements should be read in conjunction with the First American Financial Corporation (the “Company”) Annual Report on Form 10-K for the year ended December 31, 2020. 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. Reclassifications To conform to its current presentation, certain previously reported balance sheet amounts, as of December 31, 2020, have been reclassified. The Company reclassified $222.1 million related to non-marketable equity securities and $63.8 million related to equity method investments from other investments to equity securities and $64.1 million related to certain other assets from other investments to other assets. Recently Adopted 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. The adoption of this guidance on a prospective basis, effective January 1, 2021, did not have a material impact on its condensed consolidated financial statements.

Exit of Property and Casualty

Exit of Property and Casualty Insurance Business	6 Months Ended
	Jun. 30, 2021
Disposal Group Not Discontinued Operation Disposal Disclosures [Abstract]
Exit of Property and Casualty Insurance Business	Note 2 – Exit of Property and Casualty Insurance Business During 2020, the Company initiated a plan to exit its property and casualty insurance business. In January 2021, the Company entered into book transfer agreements with two third-party insurers and will seek to non-renew policies that are not transferred. The Company’s policies in force had declined by approximately 22% as of June 30, 2021 and the Company expects an approximate 70% reduction in policies in force by the end of 2021 and decreasing revenues over time. The Company expects the transfers to be completed by the end of the third quarter of 2022. The property and casualty insurance business recorded revenues of $44.0 million and $78.6 million for the three and six months ended June 30, 2021, respectively, and $36.0 million and $66.0 million for the three and six months ended June 30, 2020, respectively. Income (loss) before income taxes, which includes a gain of $12.2 million from the sale of the agency operations in the second quarter of 2021, was $6.0 million and $(0.6) million for the three and six months ended June 30, 2021, respectively. Loss before income taxes was $8.5 million and $15.8 million for the three and six months ended June 30, 2020, respectively.

Escrow Deposits, Like-Kind Exch

Escrow Deposits, Like-Kind Exchange Deposits and Trust Assets	6 Months Ended
	Jun. 30, 2021
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 $11.6 billion and $7.1 billion at June 30, 2021 and December 31, 2020, respectively, of which $5.1 billion and $3.1 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 $4.5 billion and $4.4 billion at June 30, 2021 and December 31, 2020, 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 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 $3.9 billion and $2.9 billion at June 30, 2021 and December 31, 2020, 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 Securities

Debt Securities	6 Months Ended
	Jun. 30, 2021
Investments Debt And Equity Securities [Abstract]
Debt Securities	Note 4 – Debt Securities Investments in debt securities, classified as available-for-sale, are as follows: (in thousands) Amortized Allowance for credit losses Gross unrealized Estimated Gains Losses June 30, 2021 U.S. Treasury bonds $ 187,858 $ — $ 1,164 $ (1,030 ) $ 187,992 Municipal bonds 1,498,743 — 74,559 (5,064 ) 1,568,238 Foreign government bonds 225,364 — 2,930 (2,750 ) 225,544 Governmental agency bonds 279,045 — 6,005 (304 ) 284,746 Governmental agency mortgage-backed securities 4,385,612 — 53,478 (15,336 ) 4,423,754 U.S. corporate debt securities 748,349 (103 ) 27,296 (1,588 ) 773,954 Foreign corporate debt securities 402,829 (2 ) 13,457 (768 ) 415,516 $ 7,727,800 $ (105 ) $ 178,889 $ (26,840 ) $ 7,879,744 December 31, 2020 U.S. Treasury bonds $ 80,172 $ — $ 778 $ (104 ) $ 80,846 Municipal bonds 1,168,425 — 80,953 (570 ) 1,248,808 Foreign government bonds 194,042 — 6,004 (516 ) 199,530 Governmental agency bonds 254,248 — 9,869 (195 ) 263,922 Governmental agency mortgage-backed securities 3,401,737 — 74,549 (1,668 ) 3,474,618 U.S. corporate debt securities 637,808 (119 ) 43,505 (497 ) 680,697 Foreign corporate debt securities 384,572 (13 ) 22,078 (236 ) 406,401 $ 6,121,004 $ (132 ) $ 237,736 $ (3,786 ) $ 6,354,822 Sales of debt securities resulted in realized gains of $13.1 million and $18.2 million, realized losses of $6.8 million and $7.2 million, and proceeds of $488.6 million and $680.0 million for the three and six months ended June 30, 2021, respectively. Sales of debt securities during the three and six months ended June 30, 2020 resulted in realized gains of $3.2 million and $9.3 million, realized losses of $1.8 million and $3.0 million, and proceeds of $285.1 million and $494.6 million, respectively. Investments in debt securities in an unrealized loss position, based on length of time, are as follows: Less than 12 months 12 months or longer Total (in thousands) Estimated fair value Unrealized losses Estimated fair value Unrealized losses Estimated fair value Unrealized losses June 30, 2021 U.S. Treasury bonds $ 79,263 $ (1,030 ) $ — $ — $ 79,263 $ (1,030 ) Municipal bonds 320,337 (5,064 ) — — 320,337 (5,064 ) Foreign government bonds 121,176 (2,750 ) — — 121,176 (2,750 ) Governmental agency bonds 12,241 (304 ) — — 12,241 (304 ) Governmental agency mortgage-backed securities 1,657,179 (15,333 ) 2,517 (3 ) 1,659,696 (15,336 ) U.S. corporate debt securities 149,470 (1,416 ) 4,887 (172 ) 154,357 (1,588 ) Foreign corporate debt securities 82,370 (740 ) 2,011 (28 ) 84,381 (768 ) $ 2,422,036 $ (26,637 ) $ 9,415 $ (203 ) $ 2,431,451 $ (26,840 ) December 31, 2020 U.S. Treasury bonds $ 7,744 $ (104 ) $ — $ — $ 7,744 $ (104 ) Municipal bonds 74,045 (570 ) — — 74,045 (570 ) Foreign government bonds 67,094 (516 ) — — 67,094 (516 ) Governmental agency bonds 15,353 (195 ) — — 15,353 (195 ) Governmental agency mortgage-backed securities 287,947 (1,089 ) 100,473 (579 ) 388,420 (1,668 ) U.S. corporate debt securities 42,508 (484 ) 1,357 (13 ) 43,865 (497 ) Foreign corporate debt securities 19,042 (232 ) 276 (4 ) 19,318 (236 ) $ 513,733 $ (3,190 ) $ 102,106 $ (596 ) $ 615,839 $ (3,786 ) Based on the Company’s review of its debt securities in an unrealized loss position for which an allowance for credit losses has not been recorded, it determined that the losses were due to non-credit factors. As such, the Company does not consider these securities to be credit impaired at June 30, 2021. Activity in the allowance for credit losses on debt securities for the three and six months ended June 30, 2021 and 2020, is summarized as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2021 2020 2021 2020 Balance at beginning of period $ (109 ) $ (7,493 ) $ (132 ) $ — Credit losses recognized during the period — — — (7,493 ) Net (increases) decreases to credit losses previously recognized (2 ) 3,460 5 3,460 Reductions for securities sold/matured 6 2,653 22 2,653 Balance at end of period $ (105 ) $ (1,380 ) $ (105 ) $ (1,380 ) Investments in debt securities at June 30, 2021, 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 $ 81,689 $ 59,052 $ 26,288 $ 20,829 $ 187,858 Estimated fair value $ 81,921 $ 59,056 $ 26,619 $ 20,396 $ 187,992 Municipal bonds Amortized cost 30,583 95,786 623,363 749,011 1,498,743 Estimated fair value 30,763 100,160 651,146 786,169 1,568,238 Foreign government bonds Amortized cost 53,194 83,691 78,247 10,232 225,364 Estimated fair value 53,240 84,953 76,779 10,572 225,544 Governmental agency bonds Amortized cost 19,391 133,138 53,905 72,611 279,045 Estimated fair value 19,712 135,211 54,463 75,360 284,746 U.S. corporate debt securities Amortized cost 33,606 416,003 230,406 68,334 748,349 Estimated fair value 34,065 431,225 235,021 73,643 773,954 Foreign corporate debt securities Amortized cost 17,982 241,107 99,896 43,844 402,829 Estimated fair value 18,121 248,253 102,613 46,529 415,516 Total debt securities excluding mortgage-backed securities Amortized cost $ 236,445 $ 1,028,777 $ 1,112,105 $ 964,861 $ 3,342,188 Estimated fair value $ 237,822 $ 1,058,858 $ 1,146,641 $ 1,012,669 $ 3,455,990 Total mortgage-backed securities Amortized cost 4,385,612 Estimated fair value 4,423,754 Total debt securities Amortized cost $ 7,727,800 Estimated fair value $ 7,879,744 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. The composition of the debt securities portfolio at June 30, 2021, 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 $ 187,992 100.0 $ — — $ — — $ 187,992 100.0 Municipal bonds 1,527,816 97.4 38,753 2.5 1,669 0.1 1,568,238 100.0 Foreign government bonds 210,876 93.5 10,213 4.5 4,455 2.0 225,544 100.0 Governmental agency bonds 284,746 100.0 — — — — 284,746 100.0 Governmental agency mortgage-backed securities 4,423,754 100.0 — — — — 4,423,754 100.0 U.S. corporate debt securities 266,554 34.4 350,759 45.4 156,641 20.2 773,954 100.0 Foreign corporate debt securities 142,062 34.2 225,972 54.4 47,482 11.4 415,516 100.0 $ 7,043,800 89.4 $ 625,697 7.9 $ 210,247 2.7 $ 7,879,744 100.0 Included in debt securities at June 30, 2021, were bank loans totaling $101.7 million, of which $97.7 million were non-investment grade; high yield corporate debt securities totaling $95.5 million, all of which were non-investment grade; and emerging market debt securities totaling $95.0 million, of which $15.4 million were non-investment grade. The composition of the debt securities portfolio in an unrealized loss position at June 30, 2021, 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 $ 79,263 100.0 $ — — $ — — $ 79,263 100.0 Municipal bonds 315,874 98.6 4,463 1.4 — — 320,337 100.0 Foreign government bonds 118,965 98.2 — — 2,211 1.8 121,176 100.0 Governmental agency bonds 12,241 100.0 — — — — 12,241 100.0 Governmental agency mortgage-backed securities 1,659,696 100.0 — — — — 1,659,696 100.0 U.S. corporate debt securities 45,628 29.6 53,453 34.6 55,276 35.8 154,357 100.0 Foreign corporate debt securities 29,251 34.7 37,001 43.8 18,129 21.5 84,381 100.0 $ 2,260,918 93.0 $ 94,917 3.9 $ 75,616 3.1 $ 2,431,451 100.0 Debt securities in an unrealized loss position at June 30, 2021, included bank loans totaling $40.9 million, of which $39.1 million were non-investment grade; high yield corporate debt securities totaling $30.9 million, all of which were non-investment grade; and emerging market debt securities totaling $17.1 million, of which $5.6 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.

Equity Securities

Equity Securities	6 Months Ended
	Jun. 30, 2021
Investments Debt And Equity Securities [Abstract]
Equity Securities	Note 5 – Equity Securities Investments in equity securities, by classification, are summarized as follows: (in thousands) June 30, December 31, Marketable equity securities $ 462,009 $ 464,126 Non-marketable equity securities 351,282 217,104 Equity method investments 72,842 68,781 $ 886,133 $ 750,011 See Note 1 Basis of Condensed Consolidated Financial Statements for further discussion of the balance sheet reclassifications of non-marketable equity securities and equity method investments to equity securities. Investments in marketable equity securities are summarized as follows: (in thousands) Cost Estimated fair value June 30, 2021 Preferred stocks $ 17,816 $ 17,292 Common stocks 331,546 444,717 $ 349,362 $ 462,009 December 31, 2020 Preferred stocks $ 22,163 $ 19,479 Common stocks 354,157 444,647 $ 376,320 $ 464,126 Net gains (realized and unrealized) of $24.2 million and $43.3 million were recognized for the three and six months ended June 30, 2021, respectively, as a result of changes in the fair values of marketable equity securities. Included in net gains during the three and six months ended June 30, 2021 were net unrealized gains of $24.3 million and $42.2 million, respectively, related to marketable equity securities still held at June 30, 2021. Net gains (realized and unrealized) of $59.1 million and net losses (realized and unrealized) of $23.4 million were recognized for the three and six months ended June 30, 2020, respectively, as a result of changes in the fair values of marketable equity securities. Included in net gains during the three months ended June 30, 2020 were net unrealized gains of $58.7 million and included in net losses during the six months ended June 30, 2020 were net unrealized losses of $23.7 million, respectively, related to marketable equity securities still held at June 30, 2020. Net gains (realized and unrealized) are recognized in net realized investment gains/losses on the condensed consolidated statements of income. Investments in non-marketable equity securities are summarized as follows: (in thousands) Cost Unrealized gains Carrying amount June 30, 2021 $ 249,266 $ 102,016 $ 351,282 December 31, 2020 $ 200,858 $ 16,246 $ 217,104 A substantial majority of the Company’s investments in non-marketable equity securities are in private venture-stage companies that operate in the real estate industry and related industries and many of which offer technology-enabled products and services. Included in non-marketable equity securities is the Company’s investment in Offerpad, Inc. (“Offerpad”), a leading tech-enabled real estate solutions platform, On March 18, 2021, Offerpad announced that it entered into a definitive merger agreement with Supernova Partners Acquisition Company, Inc. (“Supernova”), a publicly traded special purpose acquisition company. Also included Unrealized gains of $43.7 million and $85.8 million were recognized during the three and six months ended June 30, 2021, respectively, related to investments in private venture-stage companies for which transactions resulted in observable price changes. All such gains recognized during the six months ended June 30, 2021 related to securities still held at June 30, 2021. For the three and six months ended June 30, 2020 there were no observable price changes resulting from transactions by the same issuer. Net gains (realized and unrealized) are recognized in net realized investment gains/losses on the condensed consolidated statements of income.

Allowance for Credit Losses _ A

Allowance for Credit Losses – Accounts Receivable	6 Months Ended
	Jun. 30, 2021
Receivables [Abstract]
Allowance for Credit Losses – Accounts Receivable	Note 6 – Allowance for Credit Losses – Accounts Receivable Activity in the allowance for credit losses on accounts receivable is summarized as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2021 2020 2021 2020 Balance at beginning of period $ (12,924 ) $ (11,576 ) $ (13,994 ) $ (12,676 ) Provision for expected credit losses (627 ) (2,018 ) (766 ) (3,021 ) Write-offs/recoveries 1,112 1,422 2,321 3,525 Balance at end of period $ (12,439 ) $ (12,172 ) $ (12,439 ) $ (12,172 )

Goodwill

Goodwill	6 Months Ended
	Jun. 30, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill	Note 7 – Goodwill A summary of the changes in the carrying amounts of goodwill, by reportable segment, for the six months ended June 30, 2021, is as follows: (in thousands) Title Insurance and Services Specialty Insurance Total Balance at December 31, 2020 Goodwill $ 1,366,041 $ 46,765 $ 1,412,806 Accumulated impairment losses — (34,178 ) (34,178 ) $ 1,366,041 $ 12,587 $ 1,378,628 Acquisitions (1,911 ) — (1,911 ) Foreign currency translation 1,350 — 1,350 Balance at June 30 , 2021 Goodwill $ 1,365,480 $ 46,765 $ 1,412,245 Accumulated impairment losses — (34,178 ) (34,178 ) $ 1,365,480 $ 12,587 $ 1,378,067

Other Intangible Assets

Other Intangible Assets	6 Months Ended
	Jun. 30, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Other Intangible Assets	Note 8 – Other Intangible Assets Other intangible assets are summarized as follows: (in thousands) June 30, 2021 December 31, 2020 Finite-lived intangible assets: Customer relationships $ 172,518 $ 172,851 Noncompete agreements 34,755 38,310 Trademarks 24,385 24,370 Internal-use software licenses 23,118 21,605 Patents 2,840 2,840 257,616 259,976 Accumulated amortization (96,568 ) (82,380 ) 161,048 177,596 Indefinite-lived intangible assets: Licenses 16,878 16,878 $ 177,926 $ 194,474 Amortization expense for finite-lived intangible assets was $11.9 million and $23.8 million for the three and six months ended June 30, 2021, respectively, and $13.6 million and $19.9 million for the three and six months ended June 30, 2020, respectively. Estimated amortization expense for finite-lived intangible assets for the next five years is as follows: Year (in thousands) Remainder of 2021 $ 22,061 2022 $ 35,702 2023 $ 32,019 2024 $ 24,656 2025 $ 18,380 2026 $ 18,044

Reserve for Known and Incurred

Reserve for Known and Incurred but Not Reported Claims	6 Months Ended
	Jun. 30, 2021
Insurance Loss Reserves [Abstract]
Reserve for Known and Incurred but Not Reported Claims	Note 9 – Reserve for Known and Incurred But Not Reported Claims Activity in the reserve for known and incurred but not reported claims is summarized as follows: Six Months Ended (in thousands) 2021 2020 Balance at beginning of period $ 1,178,004 $ 1,063,044 Provision related to: Current year 267,589 225,921 Prior years 22,788 30,244 290,377 256,165 Payments, net of recoveries, related to: Current year 107,493 87,928 Prior years 123,928 126,666 231,421 214,594 Other 5,550 (9,121 ) Balance at end of period $ 1,242,510 $ 1,095,494 The provision for title insurance losses, expressed as a percentage of title insurance premiums and escrow fees, was 4.0% for the three and six months ended June 30, 2021 compared to 5.0% for the three and six months ended June 30, 2020, respectively. The current year rate of 4.0% reflects the ultimate loss rate for the current policy year and no change in the loss reserve estimates for prior policy years. The 5.0% rate for 2020 reflected an ultimate loss rate of 4.5% for the 2020 policy year and a net increase in the loss reserve estimates for prior policy years of 0.5%, or $5.6 million and $11.1 million for the three and six months ended June 30, 2020, respectively. A summary of the Company’s loss reserves is as follows: (in thousands, except percentages) June 30, 2021 December 31, 2020 Known title claims $ 67,956 5.5 % $ 64,601 5.5 % Incurred but not reported claims 1,081,866 87.0 % 1,025,761 87.1 % Total title claims 1,149,822 92.5 % 1,090,362 92.6 % Non-title claims 92,688 7.5 % 87,642 7.4 % Total loss reserves $ 1,242,510 100.0 % $ 1,178,004 100.0 %

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2021
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 24.0% and 23.8% for the three and six months ended June 30, 2021, respectively, and 23.8% and 20.9% for the three and six months ended June 30, 2020, respectively. The effective tax rates differ from the federal statutory rate as a result of state and foreign income taxes for which the Company is liable, 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 2021 and 2020 reflect benefits related to foreign tax law changes. The Company evaluates the realizability of its deferred tax assets by assessing the valuation allowance and makes adjustments to the allowance as necessary. The factors used by the Company to assess the likelihood of realization include its forecast of future taxable income and available tax planning strategies that could be implemented to realize its deferred tax assets. The Company’s ability or inability to achieve forecasted taxable income in the applicable taxing jurisdictions could affect the ultimate realization of its deferred tax assets. Based on future operating results in certain jurisdictions, it is possible that the current valuation allowance positions of those jurisdictions could be adjusted during the next 12 months. As of June 30, 2021 and December 31, 2020, the liability for income taxes associated with uncertain tax positions was $7.5 million and $7.2 million, respectively. The liability as of June 30, 2021 and December 31, 2020, could be reduced by $2.6 million and $2.1 million, respectively, due to offsetting tax benefits associated with the correlative effects of potential adjustments, including timing adjustments, and state income taxes. The net liability, if recognized, would favorably affect the Company’s effective income tax rate. The Company’s continuing practice is to recognize interest and penalties, if any, related to uncertain tax positions in income tax expense. Accrued interest and penalties, net of tax benefits, related to uncertain tax positions were not material as of June 30, 2021 and December 31, 2020. It is reasonably possible that the amount of the unrecognized benefit with respect to certain of the Company’s unrecognized tax positions may increase or decrease within the next 12 months. Any such change may be the result of ongoing audits or the expiration of federal and state statutes of limitations for the assessment of taxes. The Company, or one of its subsidiaries, files income tax returns in the U.S. federal jurisdiction, various state jurisdictions and various non-U.S. jurisdictions. The primary non-federal jurisdictions are California, Canada, India and the United Kingdom. As of June 30, 2021, the Company is generally no longer subject to income tax examinations for U.S. federal, state and non-U.S. jurisdictions for years prior to 2017, 2016, and 2014, respectively.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2021
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 June 30, Six Months Ended June 30, (in thousands, except per share amounts) 2021 2020 2021 2020 Numerator Net income attributable to the Company $ 302,299 $ 170,655 $ 535,915 $ 233,859 Denominator Basic weighted-average shares 110,866 112,309 111,001 112,939 Effect of dilutive restricted stock units (“RSUs”) 311 246 302 331 Diluted weighted-average shares 111,177 112,555 111,303 113,270 Net income per share attributable to the Company’s stockholders Basic $ 2.73 $ 1.52 $ 4.83 $ 2.07 Diluted $ 2.72 $ 1.52 $ 4.81 $ 2.06 For the three and six months ended June 30, 2021 either no RSUs or an immaterial amount of RSUs were excluded from diluted weighted-average common shares outstanding due to their antidilutive effect. For the three and six months ended June 30, 2020, 410 thousand and 299 thousand RSUs, respectively, were excluded from diluted weighted-average common shares outstanding due to their antidilutive effect.

Employee Benefit Plans

Employee Benefit Plans	6 Months Ended
	Jun. 30, 2021
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 June 30, Six Months Ended June 30, (in thousands) 2021 2020 2021 2020 Expense: Service costs $ 43 $ 45 $ 86 $ 90 Interest costs 1,239 1,781 2,478 3,562 Amortization of net actuarial loss 1,690 1,320 3,380 2,640 Amortization of prior service credit (326 ) (777 ) (652 ) (1,554 ) $ 2,646 $ 2,369 $ 5,292 $ 4,738 The Company contributed $7.2 million to its unfunded supplemental benefit plans during the six months ended June 30, 2021 and expects to contribute an additional $8.2 million during the remainder of 2021.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2021
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. The following tables present the fair values of the Company’s assets measured on a recurring basis: (in thousands) Total Level 1 Level 2 Level 3 June 30, 2021 Debt securities: U.S. Treasury bonds $ 187,992 $ — $ 187,992 $ — Municipal bonds 1,568,238 — 1,568,238 — Foreign government bonds 225,544 — 225,544 — Governmental agency bonds 284,746 — 284,746 — Governmental agency mortgage-backed securities 4,423,754 — 4,423,754 — U.S. corporate debt securities 773,954 — 773,954 — Foreign corporate debt securities 415,516 — 415,516 — 7,879,744 — 7,879,744 — Marketable equity securities: Preferred stocks 17,292 17,292 — — Common stocks 444,717 444,717 — — 462,009 462,009 — — Total assets $ 8,341,753 $ 462,009 $ 7,879,744 $ — (in thousands) Total Level 1 Level 2 Level 3 December 31, 2020 Debt securities: U.S. Treasury bonds $ 80,846 $ — $ 80,846 $ — Municipal bonds 1,248,808 — 1,248,808 — Foreign government bonds 199,530 — 199,530 — Governmental agency bonds 263,922 — 263,922 — Governmental agency mortgage-backed securities 3,474,618 — 3,474,618 — U.S. corporate debt securities 680,697 — 680,697 — Foreign corporate debt securities 406,401 — 406,401 — 6,354,822 — 6,354,822 — Marketable equity securities: Preferred stocks 19,479 19,479 — — Common stocks 444,647 444,647 — — 464,126 464,126 — — Total assets $ 6,818,948 $ 464,126 $ 6,354,822 $ — Assets measured at fair value on a non-recurring basis The Company’s non-marketable equity securities, equity method investments, and certain non-financial assets, such as goodwill, other intangible assets, title plants and other indexes and property and equipment are recorded at fair value at the time an impairment or observable price adjustment occurs. The Company recognized $85.8 million in unrealized gains during the six months ended June 30, 2021 resulting from observable price adjustments on its non-marketable equity securities, which are classified as Level 2. The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments not measured at fair value: Carrying Estimated fair value (in thousands) Amount Total Level 1 Level 2 Level 3 June 30, 2021 Assets: Cash and cash equivalents $ 2,222,675 $ 2,222,675 $ 2,222,675 $ — $ — Deposits with banks $ 49,037 $ 49,127 $ 6,417 $ 42,710 $ — Notes receivable, net $ 68,642 $ 71,674 $ — $ — $ 71,674 Secured financings receivable $ 712,530 $ 712,530 $ — $ 712,530 $ — Liabilities: Secured financings payable $ 610,954 $ 610,954 $ — $ 610,954 $ — Notes and contracts payable $ 1,008,241 $ 1,110,079 $ — $ 1,105,046 $ 5,033 Carrying Estimated fair value (in thousands) Amount Total Level 1 Level 2 Level 3 December 31, 2020 Assets: Cash and cash equivalents $ 1,275,466 $ 1,275,466 $ 1,275,466 $ — $ — Deposits with banks $ 45,856 $ 45,947 $ 6,092 $ 39,855 $ — Notes receivable, net $ 29,912 $ 30,279 $ — $ — $ 30,279 Secured financings receivable $ 748,312 $ 748,312 $ — $ 748,312 $ — Liabilities: Secured financings payable $ 516,155 $ 516,155 $ — $ 516,155 $ — Notes and contracts payable $ 1,010,756 $ 1,131,356 $ — $ 1,125,128 $ 6,228

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jun. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-Based Compensation	Note 14 – Share-Based Compensation Costs associated with the Company’s share-based compensation plans are summarized as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2021 2020 2021 2020 Expense: RSUs $ 6,595 $ 8,056 $ 35,824 $ 32,714 Employee stock purchase plan 1,570 1,637 3,544 2,882 $ 8,165 $ 9,693 $ 39,368 $ 35,596 RSU activity for the six months ended June 30, 2021 is summarized as follows: (in thousands, except weighted-average grant-date fair value) Shares Weighted-average grant-date fair value Unvested at December 31, 2020 905 $ 57.24 Granted during 2021 842 $ 56.33 Vested during 2021 (805 ) $ 55.82 Forfeited during 2021 (22 ) $ 56.69 Unvested at June 30 , 2021 920 $ 57.66

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Stockholders' Equity	Note 15 – Stockholders’ Equity The Company maintains a stock repurchase plan with authorization up to $ 300.0 million, of which $ 177.2 million remained as of June 30 , 2021 . Purchases may be made from time to time by the Company in the open market at prevailing market prices or in privately negotiated transactions. During the six months ended June 30 , 202 1 , the Company repurchased and retired 1.2 million shares of its common stock for a total purchase price of $ 64.8 million and , as of June 30 , 2021 , had repurchased and retired 2.4 million shares of its common stock under the current authorization for a total purchase price of $ 122.8 million .

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss) ("AOCI")	6 Months Ended
	Jun. 30, 2021
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 six months ended June 30, 2021: First American Financial Corporation NCI (in thousands) Unrealized Foreign Pension Accumulated Accumulated Balance Balance at December 31, 2020 $ 171,752 $ (37,990 ) $ (94,221 ) $ 39,541 $ 1 $ 39,542 Change in unrealized gains (losses) on debt securities (81,535 ) — — (81,535 ) (1 ) (81,536 ) Change in unrealized gains (losses) on debt securities for which credit-related portion was recognized in earnings (365 ) — — (365 ) — (365 ) Change in foreign currency translation adjustment — 9,104 — 9,104 — 9,104 Amortization of net actuarial loss — — 3,380 3,380 — 3,380 Amortization of prior service credit — — (652 ) (652 ) — (652 ) Tax effect 19,761 (320 ) (724 ) 18,717 — 18,717 Balance at June 30, 2021 $ 109,613 $ (29,206 ) $ (92,217 ) $ (11,810 ) $ — $ (11,810 ) The following table presents the other comprehensive income (loss) reclassification adjustments for the three months ended June 30, 2021 and 2020: (in thousands) Unrealized gains (losses) on debt securities Foreign currency translation adjustment Pension benefit adjustment Total other comprehensive income (loss) Three Months Ended June 30, 2021 Pretax change before reclassifications $ 56,197 $ 5,572 $ — $ 61,769 Reclassifications out of AOCI (6,277 ) — 1,364 (4,913 ) Tax effect (12,314 ) (162 ) (362 ) (12,838 ) Total other comprehensive income (loss), net of tax $ 37,606 $ 5,410 $ 1,002 $ 44,018 Three Months Ended June 30, 2020 Pretax change before reclassifications $ 77,887 $ 14,373 $ — $ 92,260 Reclassifications out of AOCI (1,370 ) — 543 (827 ) Tax effect (17,988 ) — (144 ) (18,132 ) Total other comprehensive income (loss), net of tax $ 58,529 $ 14,373 $ 399 $ 73,301 The following table presents the other comprehensive income (loss) reclassification adjustments for the six months ended June 30, 2021 and 2020: (in thousands) Unrealized gains (losses) on debt securities Foreign currency translation adjustment Pension benefit adjustment Total other comprehensive income (loss) Six Months Ended June 30, 2021 Pretax change before reclassifications $ (71,009 ) $ 9,104 $ — $ (61,905 ) Reclassifications out of AOCI (10,892 ) — 2,728 (8,164 ) Tax effect 19,761 (320 ) (724 ) 18,717 Total other comprehensive income (loss), net of tax $ (62,140 ) $ 8,784 $ 2,004 $ (51,352 ) Six Months Ended June 30, 2020 Pretax change before reclassifications $ 93,282 $ (20,315 ) $ — $ 72,967 Reclassifications out of AOCI 1,452 — 1,086 2,538 Tax effect (23,501 ) 1,132 (288 ) (22,657 ) Total other comprehensive income (loss), net of tax $ 71,233 $ (19,183 ) $ 798 $ 52,848 The following table presents the effects of the reclassifications out of AOCI on the respective line items in the condensed consolidated statements of income: Three Months Ended June 30, Six Months Ended June 30, Affected line items (in thousands) 2021 2020 2021 2020 Unrealized gains (losses) on debt securities: Net realized gains on sales of debt securities $ 6,296 $ 1,384 $ 10,951 $ 6,055 Net realized investment gains Credit losses recognized on debt securities (19 ) (14 ) (59 ) (7,507 ) Net realized investment gains Pretax total $ 6,277 $ 1,370 $ 10,892 $ (1,452 ) Tax effect $ (1,548 ) $ (322 ) $ (2,628 ) $ 360 Pension benefit adjustment (1): Amortization of net actuarial loss $ (1,690 ) $ (1,320 ) $ (3,380 ) $ (2,640 ) Other operating expenses Amortization of prior service credit 326 777 652 1,554 Other operating expenses Pretax total $ (1,364 ) $ (543 ) $ (2,728 ) $ (1,086 ) Tax effect $ 362 $ 144 $ 724 $ 288 (1) Amounts are components of net periodic cost. See Note 12 Employee Benefit Plans for additional details.

Litigation and Regulatory Conti

Litigation and Regulatory Contingencies	6 Months Ended
	Jun. 30, 2021
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 performed debt collection practices, and improperly handled property and casualty claims in violation of certain laws, such as consumer protection laws and laws generally prohibiting unfair business practices, and certain obligations, including: • Seymour vs. First American Title Insurance Company, et al., filed on January 12, 2021 and pending in the Superior Court of the State of California, County of Santa Barbara, • 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 vs. 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. Seymour and Tenefufu are putative class actions for which a class has not been certified. A class has been certified in Wilmot. 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 consumer class actions and a securities class action in connection with 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 financial 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, results of operations or cash flows. In addition, the Company and its board of directors and certain executives are parties to a shareholder derivative action, Hollett vs. Gilmore, et al., filed on November 25, 2020 and pending in the United States District Court for the Central District of California. The allegations arise out of the information security incident that occurred during the second quarter of 2019 and the resulting legal proceedings and disclosures made at the time of the incident. While the ultimate disposition is not yet determinable, the Company does not believe it will have a material adverse effect on the Company’s financial condition, results of operations or cash flows. 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, will not have a material adverse effect on the Company’s financial condition, results of operations or cash flows. 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 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. Furthermore, these exams and investigations include an investigation initiated in connection with the information security incident that occurred during the second quarter of 2019 by the New York Department of Financial Services. The New York Department of Financial Services has alleged violations of its cyber security requirements for financial services companies and filed a statement of charges on July 22, 2020, as amended on March 10, 2021, and scheduled an administrative hearing in connection therewith. While the ultimate disposition of the New York Department of Financial Services matter is not yet determinable, the Company does not believe that it will have a material adverse effect on the Company’s financial condition, results of operations or cash flows. As announced by the Company in a Current Report on Form 8-K filed with the SEC on June 15, 2021, the Company reached a settlement with the SEC in connection with the previously disclosed information security incident that occurred during the second quarter of 2019 and which was the subject of the Wells Notice disclosed by the Company in October 2020. Under the terms of the settlement, which resolves the matter, the Company consented to the entry of an order finding a violation of Rule 13a-15 of the Securities Exchange Act of 1934, which requires issuers of registered securities to maintain effective disclosure controls. No other violations of the securities laws are alleged in the order. The order required the Company to pay a civil penalty of $487,616 and to cease and desist from committing or causing any violations of Rule 13a-15. The Company neither admits nor denies the findings in the order, other than with respect to the SEC’s jurisdiction. 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 $ million, which is based on the exchange rate as of, and includes interest charges through, June 30, 2021. 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.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Segment Information	Note 18 – Segment Information The Company consists of the following reportable segments and a corporate function: • The Company’s title insurance and services segment issues title insurance policies on residential and commercial property in the United States and offers similar or related products and services internationally. This segment also provides closing and/or escrow services; accommodates tax-deferred exchanges of real estate; provides products, services and solutions designed to mitigate risk or otherwise facilitate real estate transactions; maintains, manages and provides access to title plant data and records; provides appraisals and other valuation-related products and services; provides lien release, document custodial and default-related products and services; and provides warehouse lending services 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 sells home warranty products and issues property and casualty insurance policies. 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 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. During 2020, the Company initiated a plan to exit its property and casualty insurance business. In January 2021, the Company entered into book transfer agreements with two third-party insurers and will seek to non-renew policies that are not transferred. The Company expects the transfers to be completed by the end of the third quarter of 2022. The corporate function consists primarily of certain financing facilities as well as the corporate services that support the Company’s business operations. Selected financial information about the Company’s operations, by segment, is as follows: For the three months ended June 30, 2021: (in thousands) Revenues Income (loss) before income taxes Depreciation and amortization Capital expenditures Title Insurance and Services $ 2,108,229 $ 402,351 $ 39,470 $ 36,599 Specialty Insurance 151,630 19,731 1,433 989 Corporate 6,986 (22,666 ) 36 — Eliminations (470 ) — — — $ 2,266,375 $ 399,416 $ 40,939 $ 37,588 (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 $ 787,244 $ 904,897 $ 298,242 $ 47,482 $ 70,364 $ 2,108,229 Specialty Insurance 130,207 — 3,457 1,816 16,150 151,630 $ 917,451 $ 904,897 $ 301,699 $ 49,298 $ 86,514 $ 2,259,859 For the three months ended June 30, 2020: (in thousands) Revenues Income (loss) before income taxes Depreciation and amortization Capital expenditures Title Insurance and Services $ 1,462,939 $ 237,802 $ 38,995 $ 24,999 Specialty Insurance 133,518 7,319 1,943 3,100 Corporate 12,516 (19,826 ) 38 — Eliminations (244 ) — — — $ 1,608,729 $ 225,295 $ 40,976 $ 28,099 (in thousands) Direct premiums and escrow fees Agent premiums Information and other Net investment income Net realized investment gains (losses) Total Revenues Title Insurance and Services $ 530,735 $ 597,895 $ 228,252 $ 43,234 $ 62,823 $ 1,462,939 Specialty Insurance 121,249 — 3,103 2,316 6,850 133,518 $ 651,984 $ 597,895 $ 231,355 $ 45,550 $ 69,673 $ 1,596,457 For the six months ended June 30, 2021: (in thousands) Revenues Income (loss) before income taxes Depreciation and amortization Capital expenditures Title Insurance and Services $ 3,993,289 $ 723,980 $ 76,183 $ 67,067 Specialty Insurance 288,109 25,991 2,983 1,520 Corporate 12,052 (44,533 ) 71 — Eliminations (1,330 ) — — — $ 4,292,120 $ 705,438 $ 79,237 $ 68,587 (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 $ 1,444,741 $ 1,750,189 $ 573,646 $ 90,135 $ 134,578 $ 3,993,289 Specialty Insurance 258,385 — 7,205 3,750 18,769 288,109 $ 1,703,126 $ 1,750,189 $ 580,851 $ 93,885 $ 153,347 $ 4,281,398 For the six months ended June 30, 2020: (in thousands) Revenues Income (loss) before income taxes Depreciation and amortization Capital expenditures Title Insurance and Services $ 2,763,564 $ 310,778 $ 68,512 $ 53,422 Specialty Insurance 255,487 20,177 3,837 5,901 Corporate 3,205 (33,336 ) 76 — Eliminations (584 ) — — — $ 3,021,672 $ 297,619 $ 72,425 $ 59,323 (in thousands) Direct premiums and escrow fees Agent premiums Information and other Net investment income Net realized investment gains (losses) Total Revenues Title Insurance and Services $ 1,032,036 $ 1,197,577 $ 436,525 $ 102,902 $ (5,476 ) $ 2,763,564 Specialty Insurance 240,585 — 6,542 4,900 3,460 255,487 $ 1,272,621 $ 1,197,577 $ 443,067 $ 107,802 $ (2,016 ) $ 3,019,051

Basis of Condensed Consolidat_2

Basis of Condensed Consolidated Financial Statements (Policies)	6 Months Ended
	Jun. 30, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The condensed consolidated financial information included in this report has been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and Article 10 of Securities and Exchange Commission (“SEC”) Regulation S-X. The principles for condensed interim financial information do not require the inclusion of all the information and footnotes required by GAAP for complete financial statements. Therefore, these financial statements should be read in conjunction with the First American Financial Corporation (the “Company”) Annual Report on Form 10-K for the year ended December 31, 2020. 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.
Reclassifications	Reclassifications To conform to its current presentation, certain previously reported balance sheet amounts, as of December 31, 2020, have been reclassified. The Company reclassified $222.1 million related to non-marketable equity securities and $63.8 million related to equity method investments from other investments to equity securities and $64.1 million related to certain other assets from other investments to other assets.
Recently Adopted Accounting Pronouncements	Recently Adopted 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. The adoption of this guidance on a prospective basis, effective January 1, 2021, did not have a material impact on its condensed consolidated financial statements.

Debt Securities (Tables)

Debt Securities (Tables)	6 Months Ended
	Jun. 30, 2021
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 Gross unrealized Estimated Gains Losses June 30, 2021 U.S. Treasury bonds $ 187,858 $ — $ 1,164 $ (1,030 ) $ 187,992 Municipal bonds 1,498,743 — 74,559 (5,064 ) 1,568,238 Foreign government bonds 225,364 — 2,930 (2,750 ) 225,544 Governmental agency bonds 279,045 — 6,005 (304 ) 284,746 Governmental agency mortgage-backed securities 4,385,612 — 53,478 (15,336 ) 4,423,754 U.S. corporate debt securities 748,349 (103 ) 27,296 (1,588 ) 773,954 Foreign corporate debt securities 402,829 (2 ) 13,457 (768 ) 415,516 $ 7,727,800 $ (105 ) $ 178,889 $ (26,840 ) $ 7,879,744 December 31, 2020 U.S. Treasury bonds $ 80,172 $ — $ 778 $ (104 ) $ 80,846 Municipal bonds 1,168,425 — 80,953 (570 ) 1,248,808 Foreign government bonds 194,042 — 6,004 (516 ) 199,530 Governmental agency bonds 254,248 — 9,869 (195 ) 263,922 Governmental agency mortgage-backed securities 3,401,737 — 74,549 (1,668 ) 3,474,618 U.S. corporate debt securities 637,808 (119 ) 43,505 (497 ) 680,697 Foreign corporate debt securities 384,572 (13 ) 22,078 (236 ) 406,401 $ 6,121,004 $ (132 ) $ 237,736 $ (3,786 ) $ 6,354,822
Gross Unrealized Losses on Investments in Debt Securities	Investments in debt securities in an unrealized loss position, based on length of time, are as follows: Less than 12 months 12 months or longer Total (in thousands) Estimated fair value Unrealized losses Estimated fair value Unrealized losses Estimated fair value Unrealized losses June 30, 2021 U.S. Treasury bonds $ 79,263 $ (1,030 ) $ — $ — $ 79,263 $ (1,030 ) Municipal bonds 320,337 (5,064 ) — — 320,337 (5,064 ) Foreign government bonds 121,176 (2,750 ) — — 121,176 (2,750 ) Governmental agency bonds 12,241 (304 ) — — 12,241 (304 ) Governmental agency mortgage-backed securities 1,657,179 (15,333 ) 2,517 (3 ) 1,659,696 (15,336 ) U.S. corporate debt securities 149,470 (1,416 ) 4,887 (172 ) 154,357 (1,588 ) Foreign corporate debt securities 82,370 (740 ) 2,011 (28 ) 84,381 (768 ) $ 2,422,036 $ (26,637 ) $ 9,415 $ (203 ) $ 2,431,451 $ (26,840 ) December 31, 2020 U.S. Treasury bonds $ 7,744 $ (104 ) $ — $ — $ 7,744 $ (104 ) Municipal bonds 74,045 (570 ) — — 74,045 (570 ) Foreign government bonds 67,094 (516 ) — — 67,094 (516 ) Governmental agency bonds 15,353 (195 ) — — 15,353 (195 ) Governmental agency mortgage-backed securities 287,947 (1,089 ) 100,473 (579 ) 388,420 (1,668 ) U.S. corporate debt securities 42,508 (484 ) 1,357 (13 ) 43,865 (497 ) Foreign corporate debt securities 19,042 (232 ) 276 (4 ) 19,318 (236 ) $ 513,733 $ (3,190 ) $ 102,106 $ (596 ) $ 615,839 $ (3,786 )
Rollforward of Allowance for Credit Losses for Investments in Debt Securities	Activity in the allowance for credit losses on debt securities for the three and six months ended June 30, 2021 and 2020, is summarized as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2021 2020 2021 2020 Balance at beginning of period $ (109 ) $ (7,493 ) $ (132 ) $ — Credit losses recognized during the period — — — (7,493 ) Net (increases) decreases to credit losses previously recognized (2 ) 3,460 5 3,460 Reductions for securities sold/matured 6 2,653 22 2,653 Balance at end of period $ (105 ) $ (1,380 ) $ (105 ) $ (1,380 )
Investments in Debt Securities by Contractual Maturity	Investments in debt securities at June 30, 2021, 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 $ 81,689 $ 59,052 $ 26,288 $ 20,829 $ 187,858 Estimated fair value $ 81,921 $ 59,056 $ 26,619 $ 20,396 $ 187,992 Municipal bonds Amortized cost 30,583 95,786 623,363 749,011 1,498,743 Estimated fair value 30,763 100,160 651,146 786,169 1,568,238 Foreign government bonds Amortized cost 53,194 83,691 78,247 10,232 225,364 Estimated fair value 53,240 84,953 76,779 10,572 225,544 Governmental agency bonds Amortized cost 19,391 133,138 53,905 72,611 279,045 Estimated fair value 19,712 135,211 54,463 75,360 284,746 U.S. corporate debt securities Amortized cost 33,606 416,003 230,406 68,334 748,349 Estimated fair value 34,065 431,225 235,021 73,643 773,954 Foreign corporate debt securities Amortized cost 17,982 241,107 99,896 43,844 402,829 Estimated fair value 18,121 248,253 102,613 46,529 415,516 Total debt securities excluding mortgage-backed securities Amortized cost $ 236,445 $ 1,028,777 $ 1,112,105 $ 964,861 $ 3,342,188 Estimated fair value $ 237,822 $ 1,058,858 $ 1,146,641 $ 1,012,669 $ 3,455,990 Total mortgage-backed securities Amortized cost 4,385,612 Estimated fair value 4,423,754 Total debt securities Amortized cost $ 7,727,800 Estimated fair value $ 7,879,744
Composition of Debt Securities Portfolio by Credit Rating Agencies	The composition of the debt securities portfolio at June 30, 2021, 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 $ 187,992 100.0 $ — — $ — — $ 187,992 100.0 Municipal bonds 1,527,816 97.4 38,753 2.5 1,669 0.1 1,568,238 100.0 Foreign government bonds 210,876 93.5 10,213 4.5 4,455 2.0 225,544 100.0 Governmental agency bonds 284,746 100.0 — — — — 284,746 100.0 Governmental agency mortgage-backed securities 4,423,754 100.0 — — — — 4,423,754 100.0 U.S. corporate debt securities 266,554 34.4 350,759 45.4 156,641 20.2 773,954 100.0 Foreign corporate debt securities 142,062 34.2 225,972 54.4 47,482 11.4 415,516 100.0 $ 7,043,800 89.4 $ 625,697 7.9 $ 210,247 2.7 $ 7,879,744 100.0
Composition of Debt Securities Portfolio in Unrealized Loss Position by Credit Rating Agencies	The composition of the debt securities portfolio in an unrealized loss position at June 30, 2021, 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 $ 79,263 100.0 $ — — $ — — $ 79,263 100.0 Municipal bonds 315,874 98.6 4,463 1.4 — — 320,337 100.0 Foreign government bonds 118,965 98.2 — — 2,211 1.8 121,176 100.0 Governmental agency bonds 12,241 100.0 — — — — 12,241 100.0 Governmental agency mortgage-backed securities 1,659,696 100.0 — — — — 1,659,696 100.0 U.S. corporate debt securities 45,628 29.6 53,453 34.6 55,276 35.8 154,357 100.0 Foreign corporate debt securities 29,251 34.7 37,001 43.8 18,129 21.5 84,381 100.0 $ 2,260,918 93.0 $ 94,917 3.9 $ 75,616 3.1 $ 2,431,451 100.0

Equity Securities (Tables)

Equity Securities (Tables)	6 Months Ended
	Jun. 30, 2021
Investments Debt And Equity Securities [Abstract]
Summary of Investments in Equity Securities, by Classification	Investments in equity securities, by classification, are summarized as follows: (in thousands) June 30, December 31, Marketable equity securities $ 462,009 $ 464,126 Non-marketable equity securities 351,282 217,104 Equity method investments 72,842 68,781 $ 886,133 $ 750,011
Summary of Investments in Marketable Equity Securities	See Note 1 Basis of Condensed Consolidated Financial Statements for further discussion of the balance sheet reclassifications of non-marketable equity securities and equity method investments to equity securities. Investments in marketable equity securities are summarized as follows: (in thousands) Cost Estimated fair value June 30, 2021 Preferred stocks $ 17,816 $ 17,292 Common stocks 331,546 444,717 $ 349,362 $ 462,009 December 31, 2020 Preferred stocks $ 22,163 $ 19,479 Common stocks 354,157 444,647 $ 376,320 $ 464,126
Summary of Investments in Non-Marketable Equity Securities	Investments in non-marketable equity securities are summarized as follows: (in thousands) Cost Unrealized gains Carrying amount June 30, 2021 $ 249,266 $ 102,016 $ 351,282 December 31, 2020 $ 200,858 $ 16,246 $ 217,104

Allowance for Credit Losses __2

Allowance for Credit Losses – Accounts Receivable (Tables)	6 Months Ended
	Jun. 30, 2021
Receivables [Abstract]
Summary of Allowance for Credit Losses on Accounts Receivables	Activity in the allowance for credit losses on accounts receivable is summarized as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2021 2020 2021 2020 Balance at beginning of period $ (12,924 ) $ (11,576 ) $ (13,994 ) $ (12,676 ) Provision for expected credit losses (627 ) (2,018 ) (766 ) (3,021 ) Write-offs/recoveries 1,112 1,422 2,321 3,525 Balance at end of period $ (12,439 ) $ (12,172 ) $ (12,439 ) $ (12,172 )

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
	Jun. 30, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Carrying Amount of Goodwill by Reportable Segment	A summary of the changes in the carrying amounts of goodwill, by reportable segment, for the six months ended June 30, 2021, is as follows: (in thousands) Title Insurance and Services Specialty Insurance Total Balance at December 31, 2020 Goodwill $ 1,366,041 $ 46,765 $ 1,412,806 Accumulated impairment losses — (34,178 ) (34,178 ) $ 1,366,041 $ 12,587 $ 1,378,628 Acquisitions (1,911 ) — (1,911 ) Foreign currency translation 1,350 — 1,350 Balance at June 30 , 2021 Goodwill $ 1,365,480 $ 46,765 $ 1,412,245 Accumulated impairment losses — (34,178 ) (34,178 ) $ 1,365,480 $ 12,587 $ 1,378,067

Other Intangible Assets (Tables

Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2021
Intangible Assets Gross Excluding Goodwill [Abstract]
Schedule of Other Intangible Assets	Other intangible assets are summarized as follows: (in thousands) June 30, 2021 December 31, 2020 Finite-lived intangible assets: Customer relationships $ 172,518 $ 172,851 Noncompete agreements 34,755 38,310 Trademarks 24,385 24,370 Internal-use software licenses 23,118 21,605 Patents 2,840 2,840 257,616 259,976 Accumulated amortization (96,568 ) (82,380 ) 161,048 177,596 Indefinite-lived intangible assets: Licenses 16,878 16,878 $ 177,926 $ 194,474
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 2021 $ 22,061 2022 $ 35,702 2023 $ 32,019 2024 $ 24,656 2025 $ 18,380 2026 $ 18,044

Reserve for Known and Incurre_2

Reserve for Known and Incurred but Not Reported Claims (Tables)	6 Months Ended
	Jun. 30, 2021
Insurance Loss Reserves [Abstract]
Activity in Reserve for Known and Incurred but Not Reported Claims	Activity in the reserve for known and incurred but not reported claims is summarized as follows: Six Months Ended (in thousands) 2021 2020 Balance at beginning of period $ 1,178,004 $ 1,063,044 Provision related to: Current year 267,589 225,921 Prior years 22,788 30,244 290,377 256,165 Payments, net of recoveries, related to: Current year 107,493 87,928 Prior years 123,928 126,666 231,421 214,594 Other 5,550 (9,121 ) Balance at end of period $ 1,242,510 $ 1,095,494 A summary of the Company’s loss reserves is as follows: (in thousands, except percentages) June 30, 2021 December 31, 2020 Known title claims $ 67,956 5.5 % $ 64,601 5.5 % Incurred but not reported claims 1,081,866 87.0 % 1,025,761 87.1 % Total title claims 1,149,822 92.5 % 1,090,362 92.6 % Non-title claims 92,688 7.5 % 87,642 7.4 % Total loss reserves $ 1,242,510 100.0 % $ 1,178,004 100.0 %

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	The computation of basic and diluted earnings per share is as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands, except per share amounts) 2021 2020 2021 2020 Numerator Net income attributable to the Company $ 302,299 $ 170,655 $ 535,915 $ 233,859 Denominator Basic weighted-average shares 110,866 112,309 111,001 112,939 Effect of dilutive restricted stock units (“RSUs”) 311 246 302 331 Diluted weighted-average shares 111,177 112,555 111,303 113,270 Net income per share attributable to the Company’s stockholders Basic $ 2.73 $ 1.52 $ 4.83 $ 2.07 Diluted $ 2.72 $ 1.52 $ 4.81 $ 2.06

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2021
Compensation And Retirement Disclosure [Abstract]
Net Periodic Cost	Net periodic cost related to the Company’s unfunded supplemental benefit plans includes the following components: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2021 2020 2021 2020 Expense: Service costs $ 43 $ 45 $ 86 $ 90 Interest costs 1,239 1,781 2,478 3,562 Amortization of net actuarial loss 1,690 1,320 3,380 2,640 Amortization of prior service credit (326 ) (777 ) (652 ) (1,554 ) $ 2,646 $ 2,369 $ 5,292 $ 4,738

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2021
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: (in thousands) Total Level 1 Level 2 Level 3 June 30, 2021 Debt securities: U.S. Treasury bonds $ 187,992 $ — $ 187,992 $ — Municipal bonds 1,568,238 — 1,568,238 — Foreign government bonds 225,544 — 225,544 — Governmental agency bonds 284,746 — 284,746 — Governmental agency mortgage-backed securities 4,423,754 — 4,423,754 — U.S. corporate debt securities 773,954 — 773,954 — Foreign corporate debt securities 415,516 — 415,516 — 7,879,744 — 7,879,744 — Marketable equity securities: Preferred stocks 17,292 17,292 — — Common stocks 444,717 444,717 — — 462,009 462,009 — — Total assets $ 8,341,753 $ 462,009 $ 7,879,744 $ — (in thousands) Total Level 1 Level 2 Level 3 December 31, 2020 Debt securities: U.S. Treasury bonds $ 80,846 $ — $ 80,846 $ — Municipal bonds 1,248,808 — 1,248,808 — Foreign government bonds 199,530 — 199,530 — Governmental agency bonds 263,922 — 263,922 — Governmental agency mortgage-backed securities 3,474,618 — 3,474,618 — U.S. corporate debt securities 680,697 — 680,697 — Foreign corporate debt securities 406,401 — 406,401 — 6,354,822 — 6,354,822 — Marketable equity securities: Preferred stocks 19,479 19,479 — — Common stocks 444,647 444,647 — — 464,126 464,126 — — Total assets $ 6,818,948 $ 464,126 $ 6,354,822 $ —
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: Carrying Estimated fair value (in thousands) Amount Total Level 1 Level 2 Level 3 June 30, 2021 Assets: Cash and cash equivalents $ 2,222,675 $ 2,222,675 $ 2,222,675 $ — $ — Deposits with banks $ 49,037 $ 49,127 $ 6,417 $ 42,710 $ — Notes receivable, net $ 68,642 $ 71,674 $ — $ — $ 71,674 Secured financings receivable $ 712,530 $ 712,530 $ — $ 712,530 $ — Liabilities: Secured financings payable $ 610,954 $ 610,954 $ — $ 610,954 $ — Notes and contracts payable $ 1,008,241 $ 1,110,079 $ — $ 1,105,046 $ 5,033 Carrying Estimated fair value (in thousands) Amount Total Level 1 Level 2 Level 3 December 31, 2020 Assets: Cash and cash equivalents $ 1,275,466 $ 1,275,466 $ 1,275,466 $ — $ — Deposits with banks $ 45,856 $ 45,947 $ 6,092 $ 39,855 $ — Notes receivable, net $ 29,912 $ 30,279 $ — $ — $ 30,279 Secured financings receivable $ 748,312 $ 748,312 $ — $ 748,312 $ — Liabilities: Secured financings payable $ 516,155 $ 516,155 $ — $ 516,155 $ — Notes and contracts payable $ 1,010,756 $ 1,131,356 $ — $ 1,125,128 $ 6,228

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Costs Associated with Share-Based Compensation Plans	Costs associated with the Company’s share-based compensation plans are summarized as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2021 2020 2021 2020 Expense: RSUs $ 6,595 $ 8,056 $ 35,824 $ 32,714 Employee stock purchase plan 1,570 1,637 3,544 2,882 $ 8,165 $ 9,693 $ 39,368 $ 35,596
Summary of RSU Activity	RSU activity for the six months ended June 30, 2021 is summarized as follows: (in thousands, except weighted-average grant-date fair value) Shares Weighted-average grant-date fair value Unvested at December 31, 2020 905 $ 57.24 Granted during 2021 842 $ 56.33 Vested during 2021 (805 ) $ 55.82 Forfeited during 2021 (22 ) $ 56.69 Unvested at June 30 , 2021 920 $ 57.66

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) ("AOCI") (Tables)	6 Months Ended
	Jun. 30, 2021
Accumulated Other Comprehensive Income Other Comprehensive Income [Abstract]
Components of Accumulated Other Comprehensive Income (Loss)	The following table presents a summary of the changes in each component of AOCI for the six months ended June 30, 2021: First American Financial Corporation NCI (in thousands) Unrealized Foreign Pension Accumulated Accumulated Balance Balance at December 31, 2020 $ 171,752 $ (37,990 ) $ (94,221 ) $ 39,541 $ 1 $ 39,542 Change in unrealized gains (losses) on debt securities (81,535 ) — — (81,535 ) (1 ) (81,536 ) Change in unrealized gains (losses) on debt securities for which credit-related portion was recognized in earnings (365 ) — — (365 ) — (365 ) Change in foreign currency translation adjustment — 9,104 — 9,104 — 9,104 Amortization of net actuarial loss — — 3,380 3,380 — 3,380 Amortization of prior service credit — — (652 ) (652 ) — (652 ) Tax effect 19,761 (320 ) (724 ) 18,717 — 18,717 Balance at June 30, 2021 $ 109,613 $ (29,206 ) $ (92,217 ) $ (11,810 ) $ — $ (11,810 )
Adjustments for Reclassification of Other Comprehensive Income (Loss)	The following table presents the other comprehensive income (loss) reclassification adjustments for the three months ended June 30, 2021 and 2020: (in thousands) Unrealized gains (losses) on debt securities Foreign currency translation adjustment Pension benefit adjustment Total other comprehensive income (loss) Three Months Ended June 30, 2021 Pretax change before reclassifications $ 56,197 $ 5,572 $ — $ 61,769 Reclassifications out of AOCI (6,277 ) — 1,364 (4,913 ) Tax effect (12,314 ) (162 ) (362 ) (12,838 ) Total other comprehensive income (loss), net of tax $ 37,606 $ 5,410 $ 1,002 $ 44,018 Three Months Ended June 30, 2020 Pretax change before reclassifications $ 77,887 $ 14,373 $ — $ 92,260 Reclassifications out of AOCI (1,370 ) — 543 (827 ) Tax effect (17,988 ) — (144 ) (18,132 ) Total other comprehensive income (loss), net of tax $ 58,529 $ 14,373 $ 399 $ 73,301 The following table presents the other comprehensive income (loss) reclassification adjustments for the six months ended June 30, 2021 and 2020: (in thousands) Unrealized gains (losses) on debt securities Foreign currency translation adjustment Pension benefit adjustment Total other comprehensive income (loss) Six Months Ended June 30, 2021 Pretax change before reclassifications $ (71,009 ) $ 9,104 $ — $ (61,905 ) Reclassifications out of AOCI (10,892 ) — 2,728 (8,164 ) Tax effect 19,761 (320 ) (724 ) 18,717 Total other comprehensive income (loss), net of tax $ (62,140 ) $ 8,784 $ 2,004 $ (51,352 ) Six Months Ended June 30, 2020 Pretax change before reclassifications $ 93,282 $ (20,315 ) $ — $ 72,967 Reclassifications out of AOCI 1,452 — 1,086 2,538 Tax effect (23,501 ) 1,132 (288 ) (22,657 ) Total other comprehensive income (loss), net of tax $ 71,233 $ (19,183 ) $ 798 $ 52,848
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: Three Months Ended June 30, Six Months Ended June 30, Affected line items (in thousands) 2021 2020 2021 2020 Unrealized gains (losses) on debt securities: Net realized gains on sales of debt securities $ 6,296 $ 1,384 $ 10,951 $ 6,055 Net realized investment gains Credit losses recognized on debt securities (19 ) (14 ) (59 ) (7,507 ) Net realized investment gains Pretax total $ 6,277 $ 1,370 $ 10,892 $ (1,452 ) Tax effect $ (1,548 ) $ (322 ) $ (2,628 ) $ 360 Pension benefit adjustment (1): Amortization of net actuarial loss $ (1,690 ) $ (1,320 ) $ (3,380 ) $ (2,640 ) Other operating expenses Amortization of prior service credit 326 777 652 1,554 Other operating expenses Pretax total $ (1,364 ) $ (543 ) $ (2,728 ) $ (1,086 ) Tax effect $ 362 $ 144 $ 724 $ 288 (1) Amounts are components of net periodic cost. See Note 12 Employee Benefit Plans for additional details.

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Schedule of Selected Financial Information	Selected financial information about the Company’s operations, by segment, is as follows: For the three months ended June 30, 2021: (in thousands) Revenues Income (loss) before income taxes Depreciation and amortization Capital expenditures Title Insurance and Services $ 2,108,229 $ 402,351 $ 39,470 $ 36,599 Specialty Insurance 151,630 19,731 1,433 989 Corporate 6,986 (22,666 ) 36 — Eliminations (470 ) — — — $ 2,266,375 $ 399,416 $ 40,939 $ 37,588 (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 $ 787,244 $ 904,897 $ 298,242 $ 47,482 $ 70,364 $ 2,108,229 Specialty Insurance 130,207 — 3,457 1,816 16,150 151,630 $ 917,451 $ 904,897 $ 301,699 $ 49,298 $ 86,514 $ 2,259,859 For the three months ended June 30, 2020: (in thousands) Revenues Income (loss) before income taxes Depreciation and amortization Capital expenditures Title Insurance and Services $ 1,462,939 $ 237,802 $ 38,995 $ 24,999 Specialty Insurance 133,518 7,319 1,943 3,100 Corporate 12,516 (19,826 ) 38 — Eliminations (244 ) — — — $ 1,608,729 $ 225,295 $ 40,976 $ 28,099 (in thousands) Direct premiums and escrow fees Agent premiums Information and other Net investment income Net realized investment gains (losses) Total Revenues Title Insurance and Services $ 530,735 $ 597,895 $ 228,252 $ 43,234 $ 62,823 $ 1,462,939 Specialty Insurance 121,249 — 3,103 2,316 6,850 133,518 $ 651,984 $ 597,895 $ 231,355 $ 45,550 $ 69,673 $ 1,596,457 For the six months ended June 30, 2021: (in thousands) Revenues Income (loss) before income taxes Depreciation and amortization Capital expenditures Title Insurance and Services $ 3,993,289 $ 723,980 $ 76,183 $ 67,067 Specialty Insurance 288,109 25,991 2,983 1,520 Corporate 12,052 (44,533 ) 71 — Eliminations (1,330 ) — — — $ 4,292,120 $ 705,438 $ 79,237 $ 68,587 (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 $ 1,444,741 $ 1,750,189 $ 573,646 $ 90,135 $ 134,578 $ 3,993,289 Specialty Insurance 258,385 — 7,205 3,750 18,769 288,109 $ 1,703,126 $ 1,750,189 $ 580,851 $ 93,885 $ 153,347 $ 4,281,398 For the six months ended June 30, 2020: (in thousands) Revenues Income (loss) before income taxes Depreciation and amortization Capital expenditures Title Insurance and Services $ 2,763,564 $ 310,778 $ 68,512 $ 53,422 Specialty Insurance 255,487 20,177 3,837 5,901 Corporate 3,205 (33,336 ) 76 — Eliminations (584 ) — — — $ 3,021,672 $ 297,619 $ 72,425 $ 59,323 (in thousands) Direct premiums and escrow fees Agent premiums Information and other Net investment income Net realized investment gains (losses) Total Revenues Title Insurance and Services $ 1,032,036 $ 1,197,577 $ 436,525 $ 102,902 $ (5,476 ) $ 2,763,564 Specialty Insurance 240,585 — 6,542 4,900 3,460 255,487 $ 1,272,621 $ 1,197,577 $ 443,067 $ 107,802 $ (2,016 ) $ 3,019,051

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies (Narrative) (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Non-Marketable Equity Securities	$ 351,282	$ 217,104
Equity Method Investments	72,842	68,781
Other assets	$ 389,039	352,018
Reclassification [Member]
Non-Marketable Equity Securities		222,100
Equity Method Investments		63,800
Reclassification [Member] | Other Assets [Member]
Other assets		$ 64,100

Exit of Property and Casualty I

Exit of Property and Casualty Insurance Business - (Narrative) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disposal Group Not Discontinued Operation Disposal Disclosures [Abstract]
Revenues	$ 44	$ 36	$ 78.6	$ 66
Gain on disposition of business	12.2
Income (loss) before income taxes	$ 6	$ (8.5)	$ (0.6)	$ (15.8)

Escrow Deposits, Like-Kind Ex_2

Escrow Deposits, Like-Kind Exchange Deposits and Trust Assets (Narrative) (Detail) - USD ($) $ in Billions	Jun. 30, 2021	Dec. 31, 2020
Other Assets [Line Items]
Escrow deposits	$ 11.6	$ 7.1
Like-kind exchange funds	3.9	2.9
First American Trust
Other Assets [Line Items]
Escrow deposits	5.1	3.1
Assets held-in-trust	$ 4.5	$ 4.4

Debt Securities (Investments in

Debt Securities (Investments in Debt Securities, Classified as Available-For-Sale) (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost	$ 7,727,800		$ 6,121,004
Debt Securities, Allowance for credit losses	(105)	$ (109)	(132)	$ (1,380)	$ (7,493)	$ 0
Debt Securities, Gross unrealized gains	178,889		237,736
Debt Securities, Gross unrealized losses	(26,840)		(3,786)
Debt securities, Estimated fair value	7,879,744		6,354,822
U.S. Treasury bonds
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost	187,858		80,172
Debt Securities, Allowance for credit losses	0		0
Debt Securities, Gross unrealized gains	1,164		778
Debt Securities, Gross unrealized losses	(1,030)		(104)
Debt securities, Estimated fair value	187,992		80,846
Municipal bonds
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost	1,498,743		1,168,425
Debt Securities, Allowance for credit losses	0		0
Debt Securities, Gross unrealized gains	74,559		80,953
Debt Securities, Gross unrealized losses	(5,064)		(570)
Debt securities, Estimated fair value	1,568,238		1,248,808
Foreign government bonds
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost	225,364		194,042
Debt Securities, Allowance for credit losses	0		0
Debt Securities, Gross unrealized gains	2,930		6,004
Debt Securities, Gross unrealized losses	(2,750)		(516)
Debt securities, Estimated fair value	225,544		199,530
Governmental agency bonds
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost	279,045		254,248
Debt Securities, Allowance for credit losses	0		0
Debt Securities, Gross unrealized gains	6,005		9,869
Debt Securities, Gross unrealized losses	(304)		(195)
Debt securities, Estimated fair value	284,746		263,922
Governmental agency mortgage-backed securities
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost	4,385,612		3,401,737
Debt Securities, Allowance for credit losses	0		0
Debt Securities, Gross unrealized gains	53,478		74,549
Debt Securities, Gross unrealized losses	(15,336)		(1,668)
Debt securities, Estimated fair value	4,423,754		3,474,618
U.S. corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost	748,349		637,808
Debt Securities, Allowance for credit losses	(103)		(119)
Debt Securities, Gross unrealized gains	27,296		43,505
Debt Securities, Gross unrealized losses	(1,588)		(497)
Debt securities, Estimated fair value	773,954		680,697
Foreign corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost	402,829		384,572
Debt Securities, Allowance for credit losses	(2)		(13)
Debt Securities, Gross unrealized gains	13,457		22,078
Debt Securities, Gross unrealized losses	(768)		(236)
Debt securities, Estimated fair value	$ 415,516		$ 406,401

Debt Securities (Sales of Debt

Debt Securities (Sales of Debt Securities) (Narrative) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Investments Debt And Equity Securities [Abstract]
Realized gains on sales of debt securities	$ 13,100	$ 3,200	$ 18,200	$ 9,300
Realized losses on sales of debt securities	6,800	1,800	7,200	3,000
Proceeds from sales of debt securities	$ 488,600	$ 285,100	$ 679,952	$ 494,552

Debt Securities (Gross Unrealiz

Debt Securities (Gross Unrealized Losses on Investments in Debt Securities) (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value, Less than 12 months	$ 2,422,036	$ 513,733
Unrealized losses, Less than 12 months	(26,637)	(3,190)
Estimated fair value, 12 months or longer	9,415	102,106
Unrealized losses, 12 months or longer	(203)	(596)
Estimated fair value, Total	2,431,451	615,839
Unrealized losses, Total	(26,840)	(3,786)
U.S. Treasury bonds
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value, Less than 12 months	79,263	7,744
Unrealized losses, Less than 12 months	(1,030)	(104)
Estimated fair value, 12 months or longer	0	0
Unrealized losses, 12 months or longer	0	0
Estimated fair value, Total	79,263	7,744
Unrealized losses, Total	(1,030)	(104)
Municipal bonds
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value, Less than 12 months	320,337	74,045
Unrealized losses, Less than 12 months	(5,064)	(570)
Estimated fair value, 12 months or longer	0	0
Unrealized losses, 12 months or longer	0	0
Estimated fair value, Total	320,337	74,045
Unrealized losses, Total	(5,064)	(570)
Foreign government bonds
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value, Less than 12 months	121,176	67,094
Unrealized losses, Less than 12 months	(2,750)	(516)
Estimated fair value, 12 months or longer	0	0
Unrealized losses, 12 months or longer	0	0
Estimated fair value, Total	121,176	67,094
Unrealized losses, Total	(2,750)	(516)
Governmental agency bonds
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value, Less than 12 months	12,241	15,353
Unrealized losses, Less than 12 months	(304)	(195)
Estimated fair value, 12 months or longer	0	0
Unrealized losses, 12 months or longer	0	0
Estimated fair value, Total	12,241	15,353
Unrealized losses, Total	(304)	(195)
Governmental agency mortgage-backed securities
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value, Less than 12 months	1,657,179	287,947
Unrealized losses, Less than 12 months	(15,333)	(1,089)
Estimated fair value, 12 months or longer	2,517	100,473
Unrealized losses, 12 months or longer	(3)	(579)
Estimated fair value, Total	1,659,696	388,420
Unrealized losses, Total	(15,336)	(1,668)
U.S. corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value, Less than 12 months	149,470	42,508
Unrealized losses, Less than 12 months	(1,416)	(484)
Estimated fair value, 12 months or longer	4,887	1,357
Unrealized losses, 12 months or longer	(172)	(13)
Estimated fair value, Total	154,357	43,865
Unrealized losses, Total	(1,588)	(497)
Foreign corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value, Less than 12 months	82,370	19,042
Unrealized losses, Less than 12 months	(740)	(232)
Estimated fair value, 12 months or longer	2,011	276
Unrealized losses, 12 months or longer	(28)	(4)
Estimated fair value, Total	84,381	19,318
Unrealized losses, Total	$ (768)	$ (236)

Debt Securities (Rollforward of

Debt Securities (Rollforward of Allowance for Credit Losses for Investments in Debt Securities ) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Investments Debt And Equity Securities [Abstract]
Balance at beginning of period	$ (109)	$ (7,493)	$ (132)	$ 0
Credit losses recognized during the period	0	0	0	(7,493)
Net (increases) decreases to credit losses previously recognized	(2)	3,460	5	3,460
Reductions for securities sold/matured	6	2,653	22	2,653
Balance at end of period	$ (105)	$ (1,380)	$ (105)	$ (1,380)

Debt Securities (Investments _2

Debt Securities (Investments in Debt Securities by Contractual Maturity) (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost	$ 7,727,800	$ 6,121,004
Debt securities, Estimated fair value	7,879,744	6,354,822
U.S. Treasury bonds
Schedule Of Available For Sale Securities [Line Items]
Amortized cost, Due in one year or less	81,689
Amortized cost, Due after one through five years	59,052
Amortized cost, Due after five through ten years	26,288
Amortized cost, Due after ten years	20,829
Debt Securities, Amortized cost	187,858	80,172
Estimated fair value, Due in one year or less	81,921
Estimated fair value, Due after one through five years	59,056
Estimated fair value, Due after five through ten years	26,619
Estimated fair value, Due after ten years	20,396
Debt securities, Estimated fair value	187,992	80,846
Municipal bonds
Schedule Of Available For Sale Securities [Line Items]
Amortized cost, Due in one year or less	30,583
Amortized cost, Due after one through five years	95,786
Amortized cost, Due after five through ten years	623,363
Amortized cost, Due after ten years	749,011
Debt Securities, Amortized cost	1,498,743	1,168,425
Estimated fair value, Due in one year or less	30,763
Estimated fair value, Due after one through five years	100,160
Estimated fair value, Due after five through ten years	651,146
Estimated fair value, Due after ten years	786,169
Debt securities, Estimated fair value	1,568,238	1,248,808
Foreign government bonds
Schedule Of Available For Sale Securities [Line Items]
Amortized cost, Due in one year or less	53,194
Amortized cost, Due after one through five years	83,691
Amortized cost, Due after five through ten years	78,247
Amortized cost, Due after ten years	10,232
Debt Securities, Amortized cost	225,364	194,042
Estimated fair value, Due in one year or less	53,240
Estimated fair value, Due after one through five years	84,953
Estimated fair value, Due after five through ten years	76,779
Estimated fair value, Due after ten years	10,572
Debt securities, Estimated fair value	225,544	199,530
Governmental agency bonds
Schedule Of Available For Sale Securities [Line Items]
Amortized cost, Due in one year or less	19,391
Amortized cost, Due after one through five years	133,138
Amortized cost, Due after five through ten years	53,905
Amortized cost, Due after ten years	72,611
Debt Securities, Amortized cost	279,045	254,248
Estimated fair value, Due in one year or less	19,712
Estimated fair value, Due after one through five years	135,211
Estimated fair value, Due after five through ten years	54,463
Estimated fair value, Due after ten years	75,360
Debt securities, Estimated fair value	284,746	263,922
U.S. corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Amortized cost, Due in one year or less	33,606
Amortized cost, Due after one through five years	416,003
Amortized cost, Due after five through ten years	230,406
Amortized cost, Due after ten years	68,334
Debt Securities, Amortized cost	748,349	637,808
Estimated fair value, Due in one year or less	34,065
Estimated fair value, Due after one through five years	431,225
Estimated fair value, Due after five through ten years	235,021
Estimated fair value, Due after ten years	73,643
Debt securities, Estimated fair value	773,954	680,697
Foreign corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Amortized cost, Due in one year or less	17,982
Amortized cost, Due after one through five years	241,107
Amortized cost, Due after five through ten years	99,896
Amortized cost, Due after ten years	43,844
Debt Securities, Amortized cost	402,829	384,572
Estimated fair value, Due in one year or less	18,121
Estimated fair value, Due after one through five years	248,253
Estimated fair value, Due after five through ten years	102,613
Estimated fair value, Due after ten years	46,529
Debt securities, Estimated fair value	415,516	$ 406,401
Debt Securities Excluding Mortgage Backed Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized cost, Due in one year or less	236,445
Amortized cost, Due after one through five years	1,028,777
Amortized cost, Due after five through ten years	1,112,105
Amortized cost, Due after ten years	964,861
Debt Securities, Amortized cost	3,342,188
Estimated fair value, Due in one year or less	237,822
Estimated fair value, Due after one through five years	1,058,858
Estimated fair value, Due after five through ten years	1,146,641
Estimated fair value, Due after ten years	1,012,669
Debt securities, Estimated fair value	3,455,990
Total Mortgage-Backed Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized cost	4,385,612
Estimated fair value	$ 4,423,754

Debt Securities (Composition of

Debt Securities (Composition of Debt Securities Portfolio by Credit Rating Agencies) (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 7,879,744	$ 6,354,822
Percentage of debt securities by credit rating agencies	100.00%
Investment Grade | A- or higher
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 7,043,800
Percentage of debt securities by credit rating agencies	89.40%
Investment Grade | BBB+ to BBB-
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 625,697
Percentage of debt securities by credit rating agencies	7.90%
Non-Investment Grade
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 210,247
Percentage of debt securities by credit rating agencies	2.70%
U.S. Treasury bonds
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 187,992	80,846
Percentage of debt securities by credit rating agencies	100.00%
U.S. Treasury bonds | Investment Grade | A- or higher
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 187,992
Percentage of debt securities by credit rating agencies	100.00%
U.S. Treasury bonds | Investment Grade | BBB+ to BBB-
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 0
Percentage of debt securities by credit rating agencies	0.00%
U.S. Treasury bonds | Non-Investment Grade
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 0
Percentage of debt securities by credit rating agencies	0.00%
Municipal bonds
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 1,568,238	1,248,808
Percentage of debt securities by credit rating agencies	100.00%
Municipal bonds | Investment Grade | A- or higher
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 1,527,816
Percentage of debt securities by credit rating agencies	97.40%
Municipal bonds | Investment Grade | BBB+ to BBB-
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 38,753
Percentage of debt securities by credit rating agencies	2.50%
Municipal bonds | Non-Investment Grade
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 1,669
Percentage of debt securities by credit rating agencies	0.10%
Foreign government bonds
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 225,544	199,530
Percentage of debt securities by credit rating agencies	100.00%
Foreign government bonds | Investment Grade | A- or higher
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 210,876
Percentage of debt securities by credit rating agencies	93.50%
Foreign government bonds | Investment Grade | BBB+ to BBB-
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 10,213
Percentage of debt securities by credit rating agencies	4.50%
Foreign government bonds | Non-Investment Grade
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 4,455
Percentage of debt securities by credit rating agencies	2.00%
Governmental agency bonds
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 284,746	263,922
Percentage of debt securities by credit rating agencies	100.00%
Governmental agency bonds | Investment Grade | A- or higher
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 284,746
Percentage of debt securities by credit rating agencies	100.00%
Governmental agency bonds | Investment Grade | BBB+ to BBB-
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 0
Percentage of debt securities by credit rating agencies	0.00%
Governmental agency bonds | Non-Investment Grade
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 0
Percentage of debt securities by credit rating agencies	0.00%
Governmental agency mortgage-backed securities
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 4,423,754	3,474,618
Percentage of debt securities by credit rating agencies	100.00%
Governmental agency mortgage-backed securities | Investment Grade | A- or higher
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 4,423,754
Percentage of debt securities by credit rating agencies	100.00%
Governmental agency mortgage-backed securities | Investment Grade | BBB+ to BBB-
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 0
Percentage of debt securities by credit rating agencies	0.00%
Governmental agency mortgage-backed securities | Non-Investment Grade
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 0
Percentage of debt securities by credit rating agencies	0.00%
U.S. corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 773,954	680,697
Percentage of debt securities by credit rating agencies	100.00%
U.S. corporate debt securities | Investment Grade | A- or higher
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 266,554
Percentage of debt securities by credit rating agencies	34.40%
U.S. corporate debt securities | Investment Grade | BBB+ to BBB-
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 350,759
Percentage of debt securities by credit rating agencies	45.40%
U.S. corporate debt securities | Non-Investment Grade
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 156,641
Percentage of debt securities by credit rating agencies	20.20%
Foreign corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 415,516	$ 406,401
Percentage of debt securities by credit rating agencies	100.00%
Foreign corporate debt securities | Investment Grade | A- or higher
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 142,062
Percentage of debt securities by credit rating agencies	34.20%
Foreign corporate debt securities | Investment Grade | BBB+ to BBB-
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 225,972
Percentage of debt securities by credit rating agencies	54.40%
Foreign corporate debt securities | Non-Investment Grade
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 47,482
Percentage of debt securities by credit rating agencies	11.40%

Debt Securities (Debt Securitie

Debt Securities (Debt Securities Investment Portfolio) (Narrative) (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 7,879,744	$ 6,354,822
Bank Loans
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	101,700
Emerging Market Securities
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	95,000
Non-Investment Grade
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	210,247
Non-Investment Grade | Bank Loans
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	97,700
Non-Investment Grade | High Yield Corporate Debt Securities
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	95,500
Non-Investment Grade | Emerging Market Securities
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 15,400

Debt Securities (Composition _2

Debt Securities (Composition of Debt Securities Portfolio in Unrealized Loss Position by Credit Rating Agencies) (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 2,431,451	$ 615,839
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	$ 2,260,918
Percentage of debt securities in unrealized loss position	93.00%
Investment Grade | BBB+ to BBB-
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 94,917
Percentage of debt securities in unrealized loss position	3.90%
Non-Investment Grade
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 75,616
Percentage of debt securities in unrealized loss position	3.10%
U.S. Treasury bonds
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 79,263	7,744
Percentage of debt securities in unrealized loss position	100.00%
U.S. Treasury bonds | Investment Grade | A- or higher
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 79,263
Percentage of debt securities in unrealized loss position	100.00%
U.S. Treasury bonds | Investment Grade | 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%
U.S. Treasury bonds | Non-Investment Grade
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%
Municipal bonds
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 320,337	74,045
Percentage of debt securities in unrealized loss position	100.00%
Municipal bonds | Investment Grade | A- or higher
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 315,874
Percentage of debt securities in unrealized loss position	98.60%
Municipal bonds | Investment Grade | BBB+ to BBB-
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 4,463
Percentage of debt securities in unrealized loss position	1.40%
Municipal bonds | Non-Investment Grade
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%
Foreign government bonds
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 121,176	67,094
Percentage of debt securities in unrealized loss position	100.00%
Foreign government bonds | Investment Grade | A- or higher
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 118,965
Percentage of debt securities in unrealized loss position	98.20%
Foreign government bonds | Investment Grade | 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%
Foreign government bonds | Non-Investment Grade
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 2,211
Percentage of debt securities in unrealized loss position	1.80%
Governmental agency bonds
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 12,241	15,353
Percentage of debt securities in unrealized loss position	100.00%
Governmental agency bonds | Investment Grade | A- or higher
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 12,241
Percentage of debt securities in unrealized loss position	100.00%
Governmental agency bonds | Investment Grade | 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%
Governmental agency bonds | Non-Investment Grade
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%
Governmental agency mortgage-backed securities
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 1,659,696	388,420
Percentage of debt securities in unrealized loss position	100.00%
Governmental agency mortgage-backed securities | Investment Grade | A- or higher
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 1,659,696
Percentage of debt securities in unrealized loss position	100.00%
Governmental agency mortgage-backed securities | Investment Grade | 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%
Governmental agency mortgage-backed securities | Non-Investment Grade
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%
U.S. corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 154,357	43,865
Percentage of debt securities in unrealized loss position	100.00%
U.S. corporate debt securities | Investment Grade | A- or higher
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 45,628
Percentage of debt securities in unrealized loss position	29.60%
U.S. corporate debt securities | Investment Grade | BBB+ to BBB-
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 53,453
Percentage of debt securities in unrealized loss position	34.60%
U.S. corporate debt securities | Non-Investment Grade
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 55,276
Percentage of debt securities in unrealized loss position	35.80%
Foreign corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 84,381	$ 19,318
Percentage of debt securities in unrealized loss position	100.00%
Foreign corporate debt securities | Investment Grade | A- or higher
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 29,251
Percentage of debt securities in unrealized loss position	34.70%
Foreign corporate debt securities | Investment Grade | BBB+ to BBB-
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 37,001
Percentage of debt securities in unrealized loss position	43.80%
Foreign corporate debt securities | Non-Investment Grade
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 18,129
Percentage of debt securities in unrealized loss position	21.50%

Debt Securities (Debt Securit_2

Debt Securities (Debt Securities in Unrealized Loss Position) (Narrative) (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 2,431,451	$ 615,839
Bank Loans
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	40,900
Emerging Market Securities
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	17,100
Non-Investment Grade
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	75,616
Non-Investment Grade | Bank Loans
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	39,100
Non-Investment Grade | High Yield Corporate Debt Securities
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	30,900
Non-Investment Grade | Emerging Market Securities
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 5,600

Equity Securities (Summary of I

Equity Securities (Summary of Investments in Equity Securities, by Classification) (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Investments Debt And Equity Securities [Abstract]
Marketable equity securities	$ 462,009	$ 464,126
Non-Marketable Equity Securities	351,282	217,104
Equity method investments	72,842	68,781
Investments In Equity Securities Total	$ 886,133	$ 750,011

Equity Securities (Summary of_2

Equity Securities (Summary of Investments in Marketable Equity Securities) (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Equity securities, Cost	$ 349,362	$ 376,320
Equity securities, Estimated fair value	462,009	464,126
Preferred stocks
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Equity securities, Cost	17,816	22,163
Equity securities, Estimated fair value	17,292	19,479
Common stocks
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Equity securities, Cost	331,546	354,157
Equity securities, Estimated fair value	$ 444,717	$ 444,647

Equity Securities (Narrative) (

Equity Securities (Narrative) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Mar. 18, 2021	Dec. 31, 2020
Schedule Of Investments [Line Items]
Realized and unrealized net gains (losses) on equity securities	$ 24,200	$ 59,100	$ 43,300	$ 23,400
Net unrealized gains (losses) on equity securities	24,300	$ 58,700	42,200	$ 23,700
Investments in non marketable equity securities	351,282		351,282			$ 217,104
Non Marketable Equity Securities [Member]
Schedule Of Investments [Line Items]
Investments in non marketable equity securities	351,282		351,282			217,104
Cost	249,266		249,266			200,858
Net unrealized gains on equity securities	43,700		85,800
Non Marketable Equity Securities [Member] | Offerpad Inc
Schedule Of Investments [Line Items]
Investments in non marketable equity securities	85,000		85,000			$ 85,000
Non Marketable Equity Securities [Member] | Side Inc
Schedule Of Investments [Line Items]
Investments in non marketable equity securities	$ 73,800		$ 73,800
Cost					$ 10,100

Equity Securities (Summary of_3

Equity Securities (Summary of Investments in Non-Marketable Equity Securities) (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Equity Securities Without Readily Determinable Fair Value [Line Items]
Carrying amount	$ 351,282	$ 217,104
Non Marketable Equity Securities [Member]
Equity Securities Without Readily Determinable Fair Value [Line Items]
Cost	249,266	200,858
Unrealized gains	102,016	16,246
Carrying amount	$ 351,282	$ 217,104

Credit Losses - Summary of Allo

Credit Losses - Summary of Allowance for Credit Losses on Accounts Receivables (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Receivables [Abstract]
Balance at beginning of period	$ (12,924)	$ (11,576)	$ (13,994)	$ (12,676)
Provision for expected credit losses	(627)	(2,018)	(766)	(3,021)
Write-offs/recoveries	1,112	1,422	2,321	3,525
Balance at end of period	$ (12,439)	$ (12,172)	$ (12,439)	$ (12,172)

Goodwill (Carrying Amount of Go

Goodwill (Carrying Amount of Goodwill by Reportable Segment) (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)
Goodwill [Line Items]
Goodwill, Gross Beginning Balance	$ 1,412,806
Accumulated impairment losses Beginning Balance	(34,178)
Goodwill, Beginning Balance	1,378,628
Acquisitions	(1,911)
Foreign currency translation	1,350
Goodwill, Gross Ending Balance	1,412,245
Accumulated impairment losses Ending Balance	(34,178)
Goodwill, Ending Balance	1,378,067
Title Insurance and Services
Goodwill [Line Items]
Goodwill, Gross Beginning Balance	1,366,041
Accumulated impairment losses Beginning Balance	0
Goodwill, Beginning Balance	1,366,041
Acquisitions	(1,911)
Foreign currency translation	1,350
Goodwill, Gross Ending Balance	1,365,480
Accumulated impairment losses Ending Balance	0
Goodwill, Ending Balance	1,365,480
Specialty Insurance
Goodwill [Line Items]
Goodwill, Gross Beginning Balance	46,765
Accumulated impairment losses Beginning Balance	(34,178)
Goodwill, Beginning Balance	12,587
Acquisitions	0
Foreign currency translation	0
Goodwill, Gross Ending Balance	46,765
Accumulated impairment losses Ending Balance	(34,178)
Goodwill, Ending Balance	$ 12,587

Other Intangible Assets (Schedu

Other Intangible Assets (Schedule of Other Intangible Assets) (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Intangible Assets Net Excluding Goodwill [Abstract]
Customer relationships	$ 172,518	$ 172,851
Noncompete agreements	34,755	38,310
Trademarks	24,385	24,370
Internal-use software licenses	23,118	21,605
Patents	2,840	2,840
Finite-lived intangible assets, gross	257,616	259,976
Accumulated amortization	(96,568)	(82,380)
Finite-lived intangible assets, net	161,048	177,596
Licenses	16,878	16,878
Other intangibles assets, net	$ 177,926	$ 194,474

Other Intangible Assets (Narrat

Other Intangible Assets (Narrative) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Intangible Assets Net Excluding Goodwill [Abstract]
Amortization expense	$ 11.9	$ 13.6	$ 23.8	$ 19.9

Other Intangible Assets (Estima

Other Intangible Assets (Estimated Amortization Expense for Finite-Lived Intangible Assets) (Detail) $ in Thousands	Jun. 30, 2021USD ($)
Intangible Assets Net Excluding Goodwill [Abstract]
Remainder of 2021	$ 22,061
2022	35,702
2023	32,019
2024	24,656
2025	18,380
2026	$ 18,044

Reserve for Known and Incurre_3

Reserve for Known and Incurred but Not Reported Claims (Activity in Reserve for Known and Incurred but Not Reported Claims) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Balance at beginning of period			$ 1,178,004	$ 1,063,044
Provision related to current year			267,589	225,921
Provision related to prior years			22,788	30,244
Total Provision	$ 149,930	$ 138,688	290,377	256,165
Payments, net of recoveries, related to: Current year			107,493	87,928
Payments, net of recoveries, related to: Prior years			123,928	126,666
Total Payments, net of recoveries			231,421	214,594
Other			5,550	(9,121)
Balance at end of period	$ 1,242,510	$ 1,095,494	$ 1,242,510	$ 1,095,494

Reserve for Known and Incurre_4

Reserve for Known and Incurred but Not Reported Claims (Narrative) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Insurance [Abstract]
Provision for title loss, percentage of title premiums and escrow fees	4.00%	5.00%	4.00%	5.00%
Ultimate loss rate		5.00%	4.00%		4.50%
Estimated increase in loss reserve for prior policy years	$ 0	$ 5.6		$ 11.1
Percentage Increase In Loss Reserve Estimates For Prior Policy Years		0.50%		0.50%

Reserve for Known and Incurre_5

Reserve for Known and Incurred but Not Reported Claims (Summary of Loss Reserves) (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Insurance [Abstract]
Known title claims, amount	$ 67,956	$ 64,601
Incurred but not reported claims, amount	1,081,866	1,025,761
Total title claims, amount	1,149,822	1,090,362
Non-title claims, amount	92,688	87,642
Total loss reserves, amount	$ 1,242,510	$ 1,178,004	$ 1,095,494	$ 1,063,044
Known title claims, percent	5.50%	5.50%
Incurred but not reported claims, percent	87.00%	87.10%
Total title claims, percent	92.50%	92.60%
Non-title claims, percent	7.50%	7.40%
Total loss reserves, percent	100.00%	100.00%

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Effective income tax rates	24.00%	23.80%	23.80%	20.90%
Liability for income taxes associated with uncertain tax positions	$ 7,500		$ 7,500		$ 7,200
Offsetting tax benefits related to uncertain tax positions	$ 2,600		2,600		2,100
Other tax benefits related to interest and penalties of uncertain tax positions			$ 0		$ 0
Unrecognized tax positions increase decrease, months			It is reasonably possible that the amount of the unrecognized benefit with respect to certain of the Company’s unrecognized tax positions may increase or decrease within the next 12 months.  Any such change may be the result of ongoing audits or the expiration of federal and state statutes of limitations for the assessment of taxes.

Earnings Per Share (Schedule of

Earnings Per Share (Schedule of Earnings Per Share) (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Earnings Per Share [Abstract]
Net income attributable to the Company	$ 302,299	$ 170,655	$ 535,915	$ 233,859
Basic weighted-average shares	110,866	112,309	111,001	112,939
Effect of dilutive restricted stock units (“RSUs”)	311	246	302	331
Diluted weighted-average shares	111,177	112,555	111,303	113,270
Basic	$ 2.73	$ 1.52	$ 4.83	$ 2.07
Diluted	$ 2.72	$ 1.52	$ 4.81	$ 2.06

Earnings Per Share (Narrative)

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

Employee Benefit Plans (Net Per

Employee Benefit Plans (Net Periodic Cost) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Defined Benefit Plan Net Periodic Benefit Cost [Abstract]
Service costs	$ 43	$ 45	$ 86	$ 90
Interest costs	1,239	1,781	2,478	3,562
Amortization of net actuarial loss	1,690	1,320	3,380	2,640
Amortization of prior service credit	(326)	(777)	(652)	(1,554)
Net periodic costs	$ 2,646	$ 2,369	$ 5,292	$ 4,738

Employee Benefit Plans (Narrati

Employee Benefit Plans (Narrative) (Detail) - Unfunded Supplemental Benefit Plans $ in Millions	6 Months Ended
	Jun. 30, 2021USD ($)
Defined Benefit Plan Disclosure [Line Items]
Contribution for pension obligation	$ 7.2
Cash contribution to plans during the remainder	$ 8.2

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value of Assets Measured on Recurring Basis) (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	$ 7,879,744	$ 6,354,822
Equity securities, estimated fair value	462,009	464,126
Debt and Equity securities, estimated fair value	8,341,753	6,818,948
Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Equity securities, estimated fair value	462,009	464,126
Debt and Equity securities, estimated fair value	462,009	464,126
Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	7,879,744	6,354,822
Equity securities, estimated fair value	0	0
Debt and Equity securities, estimated fair value	7,879,744	6,354,822
Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Equity securities, estimated fair value	0	0
Debt and Equity securities, estimated fair value	0	0
U.S. Treasury bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	187,992	80,846
U.S. Treasury bonds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
U.S. Treasury bonds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	187,992	80,846
U.S. Treasury bonds | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	1,568,238	1,248,808
Municipal bonds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Municipal bonds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	1,568,238	1,248,808
Municipal bonds | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Foreign government bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	225,544	199,530
Foreign government bonds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Foreign government bonds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	225,544	199,530
Foreign government bonds | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Governmental agency bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	284,746	263,922
Governmental agency bonds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Governmental agency bonds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	284,746	263,922
Governmental agency bonds | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Governmental agency mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	4,423,754	3,474,618
Governmental agency mortgage-backed securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Governmental agency mortgage-backed securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	4,423,754	3,474,618
Governmental agency mortgage-backed securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
U.S. corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	773,954	680,697
U.S. corporate debt securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
U.S. corporate debt securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	773,954	680,697
U.S. corporate debt securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Foreign corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	415,516	406,401
Foreign corporate debt securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Foreign corporate debt securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	415,516	406,401
Foreign corporate debt securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	0	0
Preferred stocks
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Equity securities, estimated fair value	17,292	19,479
Preferred stocks | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Equity securities, estimated fair value	17,292	19,479
Preferred stocks | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Equity securities, estimated fair value	0	0
Preferred stocks | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Equity securities, estimated fair value	0	0
Common Stock
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Equity securities, estimated fair value	444,717	444,647
Common Stock | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Equity securities, estimated fair value	444,717	444,647
Common Stock | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Equity securities, estimated fair value	0	0
Common Stock | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Equity securities, estimated fair value	$ 0	$ 0

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2021USD ($)
Level 2 | Non Marketable Equity Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Net unrealized gains on equity securities	$ 85.8

Fair Value Measurements (Carryi

Fair Value Measurements (Carrying Amounts and Estimated Fair Values of Financial Instruments Not Measured at Fair Value) (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Carrying Amount
Assets:
Cash and cash equivalents	$ 2,222,675	$ 1,275,466
Deposits with banks	49,037	45,856
Notes receivable, net	68,642	29,912
Secured financings receivable	712,530	748,312
Liabilities:
Secured financings payable	610,954	516,155
Notes and contracts payable	1,008,241	1,010,756
Estimated Fair Value
Assets:
Cash and cash equivalents	2,222,675	1,275,466
Deposits with banks	49,127	45,947
Notes receivable, net	71,674	30,279
Secured financings receivable	712,530	748,312
Liabilities:
Secured financings payable	610,954	516,155
Notes and contracts payable	1,110,079	1,131,356
Estimated Fair Value | Level 1
Assets:
Cash and cash equivalents	2,222,675	1,275,466
Deposits with banks	6,417	6,092
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	42,710	39,855
Notes receivable, net	0	0
Secured financings receivable	712,530	748,312
Liabilities:
Secured financings payable	610,954	516,155
Notes and contracts payable	1,105,046	1,125,128
Estimated Fair Value | Level 3
Assets:
Cash and cash equivalents	0	0
Deposits with banks	0	0
Notes receivable, net	71,674	30,279
Secured financings receivable	0	0
Liabilities:
Secured financings payable	0	0
Notes and contracts payable	$ 5,033	$ 6,228

Share-Based Compensation (Costs

Share-Based Compensation (Costs Associated with Share-Based Compensation Plans) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation	$ 8,165	$ 9,693	$ 39,368	$ 35,596
RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation	6,595	8,056	35,824	32,714
Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation	$ 1,570	$ 1,637	$ 3,544	$ 2,882

Share-Based Compensation (Summa

Share-Based Compensation (Summary of RSU Activity) (Detail) - RSUs - RSUs shares in Thousands	6 Months Ended
	Jun. 30, 2021$ / sharesshares
RSU, Shares
Unvested at December 31, 2020 | shares	905
Granted during 2021 | shares	842
Vested during 2021 | shares	(805)
Forfeited during 2021 | shares	(22)
Unvested at June 30, 2021 | shares	920
RSU, Weighted-average grant-date fair value
Unvested at December 31, 2020 | $ / shares	$ 57.24
Granted during 2021 | $ / shares	56.33
Vested during 2021 | $ / shares	55.82
Forfeited during 2021 | $ / shares	56.69
Unvested at June 30, 2021 | $ / shares	$ 57.66

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Detail) shares in Millions, $ in Millions	6 Months Ended	124 Months Ended
	Jun. 30, 2021USD ($)shares	Jun. 30, 2021USD ($)shares
Remaining authorized amount under stock repurchase program	$ 177.2	$ 177.2
Common stock repurchased, shares | shares	1.2	2.4
Purchase of Company, value	$ 64.8	$ 122.8
Maximum
Stock repurchase program, authorized amount	$ 300	$ 300

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (AOCI) (Components of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Accumulated other comprehensive income (loss), net of tax, Beginning Balance			$ 39,541
Stockholders equity attributable to noncontrolling interest, Beginning Balance			11,676
Accumulated other comprehensive income (loss) including non-controlling interest, Beginning Balance			39,542
Change in unrealized gains (losses) on debt securities			(81,536)
Change in unrealized gains (losses) on debt securities for which credit-related portion was recognized in earnings			(365)
Change in foreign currency translation adjustment			9,104
Amortization of net actuarial loss			3,380
Amortization of prior service credit			(652)
Tax effect	$ (12,838)	$ (18,132)	18,717	$ (22,657)
Accumulated other comprehensive income (loss), net of tax, Ending Balance	(11,810)		(11,810)
Stockholders equity attributable to noncontrolling interest, Ending Balance	11,108		11,108
Accumulated other comprehensive income (loss) including non-controlling interest, Ending Balance	(11,810)		(11,810)
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			171,752
Change in unrealized gains (losses) on debt securities			(81,535)
Change in unrealized gains (losses) on debt securities for which credit-related portion was recognized in earnings			(365)
Tax effect			19,761
Accumulated other comprehensive income (loss), debt securities, available-for-sale, adjustment, after tax, Ending Balance	109,613		109,613
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			(37,990)
Change in foreign currency translation adjustment			9,104
Tax effect			(320)
Accumulated other comprehensive income (loss), foreign currency translation adjustment, net of tax, Ending Balance	(29,206)		(29,206)
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			(94,221)
Amortization of net actuarial loss			3,380
Amortization of prior service credit			(652)
Tax effect			(724)
Accumulated other comprehensive (income) Loss, defined benefit plan, after Tax, Ending Balance	(92,217)		(92,217)
Accumulated Other Comprehensive Income (Loss) Attributable to First American Financial Corporation
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Accumulated other comprehensive income (loss), net of tax, Beginning Balance			39,541
Change in unrealized gains (losses) on debt securities			(81,535)
Change in unrealized gains (losses) on debt securities for which credit-related portion was recognized in earnings			(365)
Change in foreign currency translation adjustment			9,104
Amortization of net actuarial loss			3,380
Amortization of prior service credit			(652)
Tax effect			18,717
Accumulated other comprehensive income (loss), net of tax, Ending Balance	$ (11,810)		(11,810)
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			$ (1)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) (Other Comprehensive Income (Loss) Reclassification Adjustments) (Detail) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Accumulated Other Comprehensive Income Loss [Line Items]
Pretax change before reclassifications	$ 61,769		$ 92,260		$ (61,905)	$ 72,967
Reclassifications out of AOCI	(4,913)		(827)		(8,164)	2,538
Tax effect	(12,838)		(18,132)		18,717	(22,657)
Total other comprehensive income (loss), net of tax	44,018	$ (95,370)	73,301	$ (20,453)	(51,352)	52,848
Unrealized Gains (Losses) on Securities
Accumulated Other Comprehensive Income Loss [Line Items]
Pretax change before reclassifications	56,197		77,887		(71,009)	93,282
Reclassifications out of AOCI	(6,277)		(1,370)		(10,892)	1,452
Tax effect	(12,314)		(17,988)		19,761	(23,501)
Total other comprehensive income (loss), net of tax	37,606		58,529		(62,140)	71,233
Foreign Currency Translation Adjustment
Accumulated Other Comprehensive Income Loss [Line Items]
Pretax change before reclassifications	5,572		14,373		9,104	(20,315)
Reclassifications out of AOCI	0		0		0	0
Tax effect	(162)		0		(320)	1,132
Total other comprehensive income (loss), net of tax	5,410		14,373		8,784	(19,183)
Pension Benefit Adjustment
Accumulated Other Comprehensive Income Loss [Line Items]
Pretax change before reclassifications	0		0		0	0
Reclassifications out of AOCI	1,364		543		2,728	1,086
Tax effect	(362)		(144)		(724)	(288)
Total other comprehensive income (loss), net of tax	$ 1,002		$ 399		$ 2,004	$ 798

Accumulated Other Comprehensi_5

Accumulated Other Comprehensive Income (Loss) (Reclassifications Out of AOCI) (Detail) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Change in unrealized gains (losses) on debt securities for which credit-related portion was recognized in earnings				$ (365)
Pretax total		$ 4,913	$ 827	8,164	$ (2,538)
Amortization of net actuarial loss				(3,380)
Amortization of prior service credit				652
Unrealized Gains (Losses) on Securities
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Net realized gains on sales of debt securities		6,296	1,384	10,951	6,055
Change in unrealized gains (losses) on debt securities for which credit-related portion was recognized in earnings		(19)	(14)	(59)	(7,507)
Pretax total		6,277	1,370	10,892	(1,452)
Tax effect		(1,548)	(322)	(2,628)	360
Pension Benefit Adjustment
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Pretax total	[1]	(1,364)	(543)	(2,728)	(1,086)
Tax effect	[1]	362	144	724	288
Amortization of net actuarial loss	[1]	(1,690)	(1,320)	(3,380)	(2,640)
Amortization of prior service credit	[1]	$ 326	$ 777	$ 652	$ 1,554
[1]	Amounts are components of net periodic cost.  See Note 12 Employee Benefit Plans for additional details.

Litigation and Regulatory Con_2

Litigation and Regulatory Contingencies - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2021USD ($)
Loss Contingencies [Line Items]
Civil penalty	$ 487,616
Canadian Taxing Authority [Member]
Loss Contingencies [Line Items]
Income tax authority assessment	$ 16,400,000

Segment Information (Narrative)

Segment Information (Narrative) (Detail)	6 Months Ended
	Jun. 30, 2021State
Segment Reporting [Abstract]
Number of states issues title insurance policies	49
Number of states licensed to issues property and casualty insurance policies	50
Number of states issues home warranty contracts	35

Segment Information (Schedule o

Segment Information (Schedule of Selected Financial Information) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting Information [Line Items]
Revenues	$ 2,266,375	$ 1,608,729	$ 4,292,120	$ 3,021,672
Income (loss) before income taxes	399,416	225,295	705,438	297,619
Depreciation and amortization	40,939	40,976	79,237	72,425
Capital expenditures	37,588	28,099	68,587	59,323
Direct premiums and escrow fees	917,451	651,984	1,703,126	1,272,621
Agent premiums	904,897	597,895	1,750,189	1,197,577
Information and other	301,439	231,169	580,331	442,681
Net investment income	56,074	58,420	105,127	104,294
Net realized investment gains (losses)	86,514	69,261	153,347	4,499
Operating Segments
Segment Reporting Information [Line Items]
Revenues	2,259,859	1,596,457	4,281,398	3,019,051
Direct premiums and escrow fees	917,451	651,984	1,703,126	1,272,621
Agent premiums	904,897	597,895	1,750,189	1,197,577
Information and other	301,699	231,355	580,851	443,067
Net investment income	49,298	45,550	93,885	107,802
Net realized investment gains (losses)	86,514	69,673	153,347	(2,016)
Operating Segments | Title Insurance and Services
Segment Reporting Information [Line Items]
Revenues	2,108,229	1,462,939	3,993,289	2,763,564
Income (loss) before income taxes	402,351	237,802	723,980	310,778
Depreciation and amortization	39,470	38,995	76,183	68,512
Capital expenditures	36,599	24,999	67,067	53,422
Direct premiums and escrow fees	787,244	530,735	1,444,741	1,032,036
Agent premiums	904,897	597,895	1,750,189	1,197,577
Information and other	298,242	228,252	573,646	436,525
Net investment income	47,482	43,234	90,135	102,902
Net realized investment gains (losses)	70,364	62,823	134,578	(5,476)
Operating Segments | Specialty Insurance
Segment Reporting Information [Line Items]
Revenues	151,630	133,518	288,109	255,487
Income (loss) before income taxes	19,731	7,319	25,991	20,177
Depreciation and amortization	1,433	1,943	2,983	3,837
Capital expenditures	989	3,100	1,520	5,901
Direct premiums and escrow fees	130,207	121,249	258,385	240,585
Agent premiums	0	0	0	0
Information and other	3,457	3,103	7,205	6,542
Net investment income	1,816	2,316	3,750	4,900
Net realized investment gains (losses)	16,150	6,850	18,769	3,460
Corporate
Segment Reporting Information [Line Items]
Revenues	6,986	12,516	12,052	3,205
Income (loss) before income taxes	(22,666)	(19,826)	(44,533)	(33,336)
Depreciation and amortization	36	38	71	76
Capital expenditures	0	0	0	0
Eliminations
Segment Reporting Information [Line Items]
Revenues	(470)	(244)	(1,330)	(584)
Income (loss) before income taxes	0	0	0	0
Depreciation and amortization	0	0	0	0
Capital expenditures	$ 0	$ 0	$ 0	$ 0