First American Financial (FAF) 10-Q 22 Oct 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2021	Oct. 18, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Trading Symbol	FAF
Entity Registrant Name	FIRST AMERICAN FINANCIAL CORPORATION
Entity Central Index Key	0001472787
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding		109,766,986
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	001-34580
Entity Tax Identification Number	26-1911571
Entity Address, Address Line One	1 First American Way
Entity Address, City or Town	Santa Ana
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92707-5913
City Area Code	714
Local Phone Number	250-3000
Title of 12(b) Security	Common stock, $0.00001 par value
Security Exchange Name	NYSE
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Assets
Cash and cash equivalents	$ 1,953,987	$ 1,275,466
Accounts and accrued income receivable, less allowance for credit losses of $13,355 and $13,994	440,872	385,086
Income taxes receivable	1,636	951
Investments:
Deposits with banks	51,119	45,856
Debt securities, includes pledged securities of $95,955 and $93,586 (amortized cost $9,000,753 and $6,121,004; allowance for credit losses of $101 and $132)	9,095,806	6,354,822
Equity securities	1,209,679	750,011
Investments, Total	10,356,604	7,150,689
Secured financings receivable	651,048	748,312
Property and equipment, net	474,956	445,132
Operating lease assets	241,260	265,963
Title plants and other indexes	585,978	584,785
Deferred income taxes	14,484	14,484
Goodwill	1,416,278	1,378,628
Other intangible assets, net	188,588	194,474
Other assets	360,373	352,018
Total assets	16,686,064	12,795,988
Liabilities and Equity
Deposits	5,434,455	3,276,949
Accounts payable and accrued liabilities	1,252,009	979,733
Deferred revenue	244,164	271,977
Reserve for known and incurred but not reported claims	1,261,515	1,178,004
Income taxes payable	80,517	53,784
Deferred income taxes	291,220	291,220
Operating lease liabilities	266,729	295,762
Secured financings payable	593,607	516,155
Notes and contracts payable	1,648,863	1,010,756
Total liabilities	11,073,079	7,874,340
Commitments and contingencies (Note 18)
Stockholders’ equity:
Preferred stock, $0.00001 par value; Authorized—500 shares; Outstanding—none
Common stock, $0.00001 par value; Authorized—300,000 shares; Outstanding—109,822 shares and 110,353 shares	1	1
Additional paid-in capital	2,186,372	2,214,935
Retained earnings	3,476,903	2,655,495
Accumulated other comprehensive (loss) income	(66,141)	39,541
Total stockholders’ equity	5,597,135	4,909,972
Noncontrolling interests	15,850	11,676
Total equity	5,612,985	4,921,648
Total liabilities and equity	$ 16,686,064	$ 12,795,988

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Statement Of Financial Position [Abstract]
Accounts and accrued income receivable, allowances	$ 13,355	$ 13,994
Debt securities, amortized cost	9,000,753	6,121,004
Debt securities, allowance for credit losses	101	132
Pledged securities included in debt securities	$ 95,955	$ 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	109,822	110,353

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenues
Direct premiums and escrow fees	$ 921,336	$ 807,947	$ 2,624,462	$ 2,080,568
Agent premiums	998,534	722,434	2,748,723	1,920,011
Information and other	310,145	285,882	890,476	728,563
Net investment income	50,670	52,466	155,797	156,760
Net realized investment gains	275,243	44,992	428,590	49,491
Total Revenues	2,555,928	1,913,721	6,848,048	4,935,393
Expenses
Personnel costs	584,649	511,298	1,708,097	1,392,445
Premiums retained by agents	794,165	572,780	2,183,890	1,520,559
Other operating expenses	333,195	281,079	959,317	788,407
Provision for policy losses and other claims	155,300	157,836	445,677	414,001
Depreciation and amortization	39,238	38,227	118,475	110,652
Impairment losses on exit of business	0	73,264	0	73,264
Premium taxes	26,981	19,885	72,034	53,554
Interest	19,226	15,981	51,946	41,521
Total expenses	1,952,754	1,670,350	5,539,436	4,394,403
Income before income taxes	603,174	243,371	1,308,612	540,990
Income taxes	152,709	59,780	320,281	121,859
Net income	450,465	183,591	988,331	419,131
Less: Net income attributable to noncontrolling interests	5,215	1,312	7,166	2,993
Net income attributable to the Company	$ 445,250	$ 182,279	$ 981,165	$ 416,138
Net income per share attributable to the Company's stockholders (Note 12):
Basic	$ 4.01	$ 1.62	$ 8.84	$ 3.69
Diluted	4	1.62	8.81	3.68
Cash dividends declared per share	$ 0.51	$ 0.44	$ 1.43	$ 1.32
Weighted-average common shares outstanding (Note 12):
Basic	110,956	112,584	111,000	112,913
Diluted	111,368	112,843	111,344	113,176

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 450,465	$ 183,591	$ 988,331	$ 419,131
Other comprehensive income (loss), net of tax:
Unrealized (losses) gains on debt securities	(42,715)	1,991	(104,578)	73,077
Unrealized gains (losses) on debt securities for which credit-related portion was recognized in earnings	1	(7)	(276)	140
Foreign currency translation adjustment	(12,619)	10,074	(3,835)	(9,109)
Pension benefit adjustment	1,002	399	3,006	1,197
Total other comprehensive (loss) income, net of tax	(54,331)	12,457	(105,683)	65,305
Comprehensive income	396,134	196,048	882,648	484,436
Less: Comprehensive income attributable to noncontrolling interests	5,215	1,312	7,165	2,993
Comprehensive income attributable to the Company	$ 390,919	$ 194,736	$ 875,483	$ 481,443

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ 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	419,131
Other comprehensive income (loss)	65,305
Balance at Sep. 30, 2020	4,734,935	$ 1	2,273,007	2,426,949	23,813	4,723,770	11,165
Balance, Shares at Sep. 30, 2020		111,645
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
Net income	183,591	$ 0	0	182,279	0	182,279	1,312
Dividends on common shares	(49,070)	0	0	(49,070)	0	(49,070)	0
Shares issued in connection with share-based compensation	4,300	$ 0	5,112	(812)	0	4,300	0
Shares issued in connection with share-based compensation, shares		126
Share-based compensation	8,404	$ 0	8,404	0	0	8,404	0
Net activity related to noncontrolling interests	(358)	0	0	0	0	0	(358)
Other comprehensive income (loss)	12,457	0	0	0	12,457	12,457	0
Balance at Sep. 30, 2020	4,734,935	$ 1	2,273,007	2,426,949	23,813	4,723,770	11,165
Balance, Shares at Sep. 30, 2020		111,645
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	110,353,000	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	110,353,000	110,353
Net income	$ 988,331
Other comprehensive income (loss)	(105,683)
Balance at Sep. 30, 2021	$ 5,612,985	$ 1	2,186,372	3,476,903	(66,141)	5,597,135	15,850
Balance, Shares at Sep. 30, 2021	109,822,000	109,822
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
Net income	450,465	$ 0	0	445,250	0	445,250	5,215
Dividends on common shares	(56,023)	0	0	(56,023)	0	(56,023)	0
Purchase of Company shares	(14,060)	$ 0	(14,060)	0	0	(14,060)	0
Purchase of Company shares, shares		(208)
Shares issued in connection with share-based compensation	5,290	$ 0	6,241	(951)	0	5,290	0
Shares issued in connection with share-based compensation, shares		111
Share-based compensation	7,265	$ 0	7,265	0	0	7,265	0
Net activity related to noncontrolling interests	(473)	0	0	0	0	0	(473)
Other comprehensive income (loss)	(54,331)	0	0	0	(54,331)	(54,331)	0
Balance at Sep. 30, 2021	$ 5,612,985	$ 1	$ 2,186,372	$ 3,476,903	$ (66,141)	$ 5,597,135	$ 15,850
Balance, Shares at Sep. 30, 2021	109,822,000	109,822

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities:
Net income	$ 988,331	$ 419,131
Adjustments to reconcile net income to cash provided by operating activities:
Provision for policy losses and other claims	445,677	414,001
Depreciation and amortization	118,475	110,652
Impairment losses on exit of business	0	73,264
Amortization of premiums and accretion of discounts on debt securities, net	32,890	28,678
Net realized investment gains	(428,590)	(49,491)
Share-based compensation	46,633	44,000
Equity in earnings of equity method investments, net	(6,066)	(3,556)
Dividends from equity method investments	8,980	4,383
Changes in assets and liabilities excluding effects of acquisitions and noncash transactions:
Claims paid, including assets acquired, net of recoveries	(356,445)	(342,721)
Net change in income tax accounts	58,841	(47)
Increase in accounts and accrued income receivable	(53,661)	(72,670)
Increase in accounts payable and accrued liabilities	70,388	32,030
(Decrease) increase in deferred revenue	(28,131)	21,668
Other, net	(21,340)	1,723
Cash provided by operating activities	875,982	681,045
Cash flows from investing activities:
Net cash effect of acquisitions/dispositions	(60,966)	(387,024)
Net (increase) decrease in deposits with banks	(7,724)	1,859
Purchases of debt securities	(4,973,589)	(1,962,074)
Proceeds from sales of debt securities	869,057	694,588
Proceeds from maturities of debt securities	1,403,680	1,157,725
Purchases of equity securities	(135,600)	(169,694)
Proceeds from sales of equity securities	78,658	92,318
Net change in notes receivable	(12,698)	(11,116)
Advances under secured financing agreements	(19,292,193)	(11,619,818)
Collections of secured financings receivable	19,389,457	11,185,121
Capital expenditures	(111,080)	(91,601)
Proceeds from sales of property and equipment	13,137	13,951
Proceeds from insurance settlement	11,815	123
Cash used for investing activities	(2,828,046)	(1,095,642)
Cash flows from financing activities:
Net change in deposits	2,157,506	162,209
Borrowings under secured financing agreements	17,938,875	10,964,792
Repayments of secured financings payable	(17,861,423)	(10,716,660)
Net proceeds from issuance of unsecured senior notes	641,849	443,936
Borrowings under unsecured credit facility	0	120,000
Repayments of borrowings under unsecured credit facility	0	(280,000)
Repayments of notes and contracts payable	(5,454)	(4,228)
Net activity related to noncontrolling interests	(3,034)	(2,090)
Net proceeds (payments) in connection with share-based compensation	1,023	(5,597)
Repurchases of Company shares	(78,846)	(68,864)
Payments of cash dividends	(157,066)	(147,768)
Cash provided by financing activities	2,633,430	465,730
Effect of exchange rate changes on cash	(2,845)	(3,122)
Net increase in cash and cash equivalents	678,521	48,011
Cash and cash equivalents—Beginning of period	1,275,466	1,485,959
Reclassification to assets previously held for sale	0	(21,601)
Cash and cash equivalents—End of period	1,953,987	1,512,369
Supplemental information:
Interest	42,481	30,034
Premium taxes	70,154	59,523
Income taxes, less refunds of $126 and $3,168	$ 261,372	$ 122,086

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Statement Of Cash Flows [Abstract]
Income taxes, refunds	$ 126	$ 3,168

Basis of Condensed Consolidated

Basis of Condensed Consolidated Financial Statements	9 Months Ended
	Sep. 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	9 Months Ended
	Sep. 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 In the third quarter of 2020, the Company initiated a plan to exit its property and casualty insurance business resulting in the remeasurement of the assets and liabilities of the business at fair value. Upon remeasurement, the Company recorded impairment losses to certain assets totaling $73.3 million for the three and nine months ended September 30, 2020. 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 49% as of September 30, 2021 and the Company expects an approximate 70% reduction to 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 $ 24.3 million and $ 103.0 million for the three and nine months ended September 30, 2021, respectively, and $ 35.3 million and $ 101.3 million for the three and nine months ended September 30, 2020, respectively. Losses before income taxes, which were partially offset by a gain of $ 12.2 million from the sale of the agency operations in the second quarter of 2021, w ere $ 10.5 million and $ 11.1 million for the three and nine months ended September 30, 2021, respectively. Loss es before income taxes for the three and nine months ended September 30, 2020 w ere $ million and $ 91.5 million, respectively.

Escrow Deposits, Like-Kind Exch

Escrow Deposits, Like-Kind Exchange Deposits and Trust Assets	9 Months Ended
	Sep. 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 $11.7 billion and $7.1 billion at September 30, 2021 and December 31, 2020, respectively, of which $5.2 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 $4.6 billion and $4.4 billion at September 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 $5.1 billion and $2.9 billion at September 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	9 Months Ended
	Sep. 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 September 30, 2021 U.S. Treasury bonds $ 172,255 $ — $ 695 $ (1,207 ) $ 171,743 Municipal bonds 1,564,102 — 60,705 (11,006 ) 1,613,801 Foreign government bonds 232,495 — 2,209 (3,329 ) 231,375 Governmental agency bonds 208,094 — 3,975 (562 ) 211,507 Governmental agency mortgage-backed securities 5,360,175 — 44,912 (31,929 ) 5,373,158 U.S. corporate debt securities 1,002,449 (101 ) 23,760 (3,719 ) 1,022,389 Foreign corporate debt securities 461,183 — 12,137 (1,487 ) 471,833 $ 9,000,753 $ (101 ) $ 148,393 $ (53,239 ) $ 9,095,806 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 $7.1 million and $25.3 million, realized losses of $0.2 million and $7.4 million, and proceeds of $189.1 million and $869.1 million for the three and nine months ended September 30, 2021, respectively. Sales of debt securities during the three and nine months ended September 30, 2020 resulted in realized gains of $7.1 million and $16.4 million, realized losses of $0.4 million and $3.4 million, and proceeds of $200.1 million and $694.6 million, 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 September 30, 2021 U.S. Treasury bonds $ 52,927 $ (916 ) $ 6,518 $ (291 ) $ 59,445 $ (1,207 ) Municipal bonds 570,038 (10,724 ) 6,711 (282 ) 576,749 (11,006 ) Foreign government bonds 125,918 (1,094 ) 29,032 (2,235 ) 154,950 (3,329 ) Governmental agency bonds 72,325 (469 ) 3,222 (93 ) 75,547 (562 ) Governmental agency mortgage-backed securities 3,070,056 (31,928 ) 103 (1 ) 3,070,159 (31,929 ) U.S. corporate debt securities 425,854 (3,388 ) 6,848 (331 ) 432,702 (3,719 ) Foreign corporate debt securities 161,416 (1,473 ) 1,234 (14 ) 162,650 (1,487 ) $ 4,478,534 $ (49,992 ) $ 53,668 $ (3,247 ) $ 4,532,202 $ (53,239 ) 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 September 30, 2021. Activity in the allowance for credit losses on debt securities for the three and nine months ended September 30, 2021 and 2020, is summarized as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2021 2020 2021 2020 Balance at beginning of period $ (105 ) $ (1,380 ) $ (132 ) $ — Credit losses recognized during the period — — — (7,493 ) Net (increases) decreases to credit losses previously recognized (4 ) 278 — 3,738 Reductions for securities sold/matured 8 271 31 2,924 Reclassification to assets previously held for sale — 10 — 10 Balance at end of period $ (101 ) $ (821 ) $ (101 ) $ (821 ) Investments in debt securities at September 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 $ 46,695 $ 78,036 $ 25,518 $ 22,006 $ 172,255 Estimated fair value $ 46,776 $ 77,850 $ 25,673 $ 21,444 $ 171,743 Municipal bonds Amortized cost 26,737 97,493 751,040 688,832 1,564,102 Estimated fair value 26,884 102,020 771,806 713,091 1,613,801 Foreign government bonds Amortized cost 52,799 93,254 76,214 10,228 232,495 Estimated fair value 52,826 94,105 74,215 10,229 231,375 Governmental agency bonds Amortized cost 19,375 80,313 37,500 70,906 208,094 Estimated fair value 19,596 81,677 37,644 72,590 211,507 U.S. corporate debt securities Amortized cost 36,886 479,958 414,830 70,775 1,002,449 Estimated fair value 37,292 492,943 417,154 75,000 1,022,389 Foreign corporate debt securities Amortized cost 20,621 266,364 134,173 40,025 461,183 Estimated fair value 20,876 272,278 136,133 42,546 471,833 Total debt securities excluding mortgage-backed securities Amortized cost $ 203,113 $ 1,095,418 $ 1,439,275 $ 902,772 $ 3,640,578 Estimated fair value $ 204,250 $ 1,120,873 $ 1,462,625 $ 934,900 $ 3,722,648 Total mortgage-backed securities Amortized cost 5,360,175 Estimated fair value 5,373,158 Total debt securities Amortized cost $ 9,000,753 Estimated fair value $ 9,095,806 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 September 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 Debt securities: U.S. Treasury bonds $ 171,743 100.0 $ — — $ — — $ 171,743 Municipal bonds 1,577,214 97.7 36,587 2.3 — — 1,613,801 Foreign government bonds 218,100 94.2 10,088 4.4 3,187 1.4 231,375 Governmental agency bonds 211,507 100.0 — — — — 211,507 Governmental agency mortgage-backed securities 5,373,158 100.0 — — — — 5,373,158 U.S. corporate debt securities 435,436 42.6 403,668 39.5 183,285 17.9 1,022,389 Foreign corporate debt securities 200,539 42.5 222,298 47.1 48,996 10.4 471,833 $ 8,187,697 90.0 $ 672,641 7.4 $ 235,468 2.6 $ 9,095,806 Included in debt securities at September 30, 2021, were bank loans totaling $141.4 million, of which $135.7 million were non-investment grade; high yield corporate debt securities totaling $85.5 million, all of which were non-investment grade; and emerging market debt securities totaling $91.0 million, of which $14.3 million were non-investment grade. The composition of the debt securities portfolio in an unrealized loss position at September 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 U.S. Treasury bonds $ 59,445 100.0 $ — — $ — — $ 59,445 Municipal bonds 563,613 97.7 13,136 2.3 — — 576,749 Foreign government bonds 153,987 99.4 — — 963 0.6 154,950 Governmental agency bonds 75,547 100.0 — — — — 75,547 Governmental agency mortgage-backed securities 3,070,159 100.0 — — — — 3,070,159 U.S. corporate debt securities 233,772 54.0 127,998 29.6 70,932 16.4 432,702 Foreign corporate debt securities 94,410 58.0 47,163 29.0 21,077 13.0 162,650 $ 4,250,933 93.7 $ 188,297 4.2 $ 92,972 2.1 $ 4,532,202 Debt securities in an unrealized loss position at September 30, 2021, included bank loans totaling $57.3 million, of which $55.5 million were non-investment grade; high yield corporate debt securities totaling $31.8 million, all of which were non-investment grade; and emerging market debt securities totaling $25.8 million, of which $5.7 million were non-investment grade.

Equity Securities

Equity Securities	9 Months Ended
	Sep. 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) September 30, December 31, Marketable equity securities $ 760,758 $ 464,126 Non-marketable equity securities 379,548 217,104 Equity method investments 69,373 68,781 $ 1,209,679 $ 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 September 30, 2021 Preferred stocks $ 16,810 $ 16,944 Common stocks (1) 443,137 743,814 $ 459,947 $ 760,758 December 31, 2020 Preferred stocks $ 22,163 $ 19,479 Common stocks 354,157 444,647 $ 376,320 $ 464,126 (1) Includes Offerpad Solutions Inc. with a cost of $85.0 million and estimated fair value of $280.3 million. See below for further discussion about the Company’s investment in Offerpad Solutions Inc. Net losses (realized and unrealized) of $16.1 million and net gains (realized and unrealized) of $27.2 million were recognized for the three and nine months ended September 30, 2021, respectively, as a result of changes in the fair values of marketable equity securities. Included in net gains during the three and nine months ended September 30, 2021 were net unrealized losses of $16.7 million and net unrealized gains $25.5 million, respectively, related to marketable equity securities still held at September 30, 2021. Net gains (realized and unrealized) of $26.0 million and $2.6 million were recognized for the three and nine months ended September 30, 2020, respectively, as a result of changes in the fair values of marketable equity securities. Included in net gains during the three and nine months ended September 30, 2020 were net unrealized gains of $26.1 million and $2.4 million, respectively, related to marketable equity securities still held at September 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 September 30, 2021 $ 198,155 $ 181,393 $ 379,548 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, many of which offer technology-enabled products and services. On September 1, 2021, Offerpad, Inc., a leading tech-enabled real estate solutions platform in which the Company maintains an ownership interest, and Supernova Partners Acquisition Company, Inc., a publicly traded special purpose acquisition company, completed their previously announced merger and combined to form Offerpad Solutions Inc. (“Offerpad”), a publicly traded company. The fair value of the Company’s investment in Offerpad as of September 30, 2021 was $280.3 million, which resulted in the Company recognizing an unrealized gain of $195.3 million for the three and nine months ended September 30, 2021. Effective September 1, 2021, the Company’s investment in Offerpad is classified within its marketable equity securities portfolio. Included in investments in private venture-stage companies at September 30, 2021 are the Company’s investments in Unrealized gains of $79.4 million and $165.1 million were recognized during the three and nine months ended September 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 nine months ended September 30, 2021 related to securities still held at September 30, 2021. Unrealized gains recognized on investments in private venture-stage companies for the three and nine months ended September 30, 2020 were $9.3 million. 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	9 Months Ended
	Sep. 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 September 30, Nine Months Ended September 30, (in thousands) 2021 2020 2021 2020 Balance at beginning of period $ (12,439 ) $ (12,172 ) $ (13,994 ) $ (12,676 ) Provision for expected credit losses (1,816 ) (1,526 ) (2,582 ) (4,547 ) Reclassification to assets previously held for sale — 365 — 365 Write-offs/recoveries 900 733 3,221 4,258 Balance at end of period $ (13,355 ) $ (12,600 ) $ (13,355 ) $ (12,600 )

Goodwill

Goodwill	9 Months Ended
	Sep. 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 nine months ended September 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 38,276 — 38,276 Foreign currency translation (626 ) — (626 ) Balance at September 30 , 2021 Goodwill $ 1,403,691 $ 46,765 $ 1,450,456 Accumulated impairment losses — (34,178 ) (34,178 ) $ 1,403,691 $ 12,587 $ 1,416,278

Other Intangible Assets

Other Intangible Assets	9 Months Ended
	Sep. 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) September 30, 2021 December 31, 2020 Finite-lived intangible assets: Customer relationships $ 182,800 $ 172,851 Noncompete agreements 32,860 38,310 Trademarks 26,334 24,370 Internal-use software licenses 24,363 21,605 Patents 2,840 2,840 269,197 259,976 Accumulated amortization (97,487 ) (82,380 ) 171,710 177,596 Indefinite-lived intangible assets: Licenses 16,878 16,878 $ 188,588 $ 194,474 Amortization expense for finite-lived intangible assets was $12.8 million and $36.6 million for the three and nine months ended September 30, 2021, respectively, and $11.6 million and $31.4 million for the three and nine months ended September 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 $ 12,275 2022 $ 40,535 2023 $ 34,877 2024 $ 27,452 2025 $ 21,071 2026 $ 20,335

Reserve for Known and Incurred

Reserve for Known and Incurred but Not Reported Claims	9 Months Ended
	Sep. 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: Nine Months Ended (in thousands) 2021 2020 Balance at beginning of period $ 1,178,004 $ 1,063,044 Provision related to: Current year 428,501 379,987 Prior years 17,176 34,014 445,677 414,001 Payments, net of recoveries, related to: Current year 204,525 179,654 Prior years 151,920 163,067 356,445 342,721 Other (5,721 ) (3,882 ) Reclassification to liabilities previously held for sale — (60,583 ) Balance at end of period $ 1,261,515 $ 1,069,859 The provision for title insurance losses, expressed as a percentage of title insurance premiums and escrow fees, was 4.0% for the three and nine months ended September 30, 2021 compared to 5.0% for the three and nine months ended September 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 $7.0 million and $18.2 million for the three and nine months ended September 30, 2020, respectively. A summary of the Company’s loss reserves is as follows: (in thousands, except percentages) September 30, 2021 December 31, 2020 Known title claims $ 67,487 5.4 % $ 64,601 5.5 % Incurred but not reported claims 1,108,208 87.8 % 1,025,761 87.1 % Total title claims 1,175,695 93.2 % 1,090,362 92.6 % Non-title claims 85,820 6.8 % 87,642 7.4 % Total loss reserves $ 1,261,515 100.0 % $ 1,178,004 100.0 %

Notes and Contracts Payable

Notes and Contracts Payable	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Notes and Contracts Payable	Note 10 – Notes and Contracts Payable In August 2021, the Company issued $650.0 million of 2.40% senior unsecured notes due in 2031. Interest is due semi-annually on February 15 and August 15, beginning February 15, 2022.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Note 11 – Income Taxes The Company’s effective income tax rates (income tax expense as a percentage of income before income taxes) were 25.3% and 24.5% for the three and nine months ended September 30, 2021, respectively, and 24.6% and 22.5% for the three and nine months ended September 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 effective tax 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 September 30, 2021 and December 31, 2020, the liability for income taxes associated with uncertain tax positions was $7.7 million and $7.2 million, respectively. The liability as of September 30, 2021 and December 31, 2020, could be reduced by $2.7 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 September 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 September 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	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Earnings Per Share	Note 12 – Earnings Per Share The computation of basic and diluted earnings per share is as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except per share amounts) 2021 2020 2021 2020 Numerator Net income attributable to the Company $ 445,250 $ 182,279 $ 981,165 $ 416,138 Denominator Basic weighted-average shares 110,956 112,584 111,000 112,913 Effect of dilutive restricted stock units (“RSUs”) 412 259 344 263 Diluted weighted-average shares 111,368 112,843 111,344 113,176 Net income per share attributable to the Company’s stockholders Basic $ 4.01 $ 1.62 $ 8.84 $ 3.69 Diluted $ 4.00 $ 1.62 $ 8.81 $ 3.68 For the three and nine months ended September 30, 2021 an immaterial amount of RSUs were excluded from diluted weighted-average common shares outstanding due to their antidilutive effect. For the three and nine months ended September 30, 2020, 172 thousand and 284 thousand RSUs, respectively, were excluded from the weighted-average diluted common shares outstanding due to their antidilutive effect.

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
	Sep. 30, 2021
Compensation And Retirement Disclosure [Abstract]
Employee Benefit Plans	Note 13 – Employee Benefit Plans Net periodic cost related to the Company’s unfunded supplemental benefit plans includes the following components: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2021 2020 2021 2020 Expense: Service costs $ 43 $ 44 $ 129 $ 134 Interest costs 1,239 1,781 3,717 5,343 Amortization of net actuarial loss 1,690 1,321 5,070 3,961 Amortization of prior service credit (326 ) (777 ) (978 ) (2,331 ) $ 2,646 $ 2,369 $ 7,938 $ 7,107 The Company contributed $10.8 million to its unfunded supplemental benefit plans during the nine months ended September 30, 2021 and expects to contribute an additional $4.6 million during the remainder of 2021.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 14 – 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 September 30, 2021 Debt securities: U.S. Treasury bonds $ 171,743 $ — $ 171,743 $ — Municipal bonds 1,613,801 — 1,613,801 — Foreign government bonds 231,375 — 231,375 — Governmental agency bonds 211,507 — 211,507 — Governmental agency mortgage-backed securities 5,373,158 — 5,373,158 — U.S. corporate debt securities 1,022,389 — 1,022,389 — Foreign corporate debt securities 471,833 — 471,833 — 9,095,806 — 9,095,806 — Marketable equity securities: Preferred stocks 16,944 16,944 — — Common stocks 743,814 743,814 — — 760,758 760,758 — — Total assets $ 9,856,564 $ 760,758 $ 9,095,806 $ — (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 $165.1 million in unrealized gains during the nine months ended September 30, 2021 resulting from observable price adjustments on its non-marketable equity securities still held at September 30, 2021, 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 September 30, 2021 Assets: Cash and cash equivalents $ 1,953,987 $ 1,953,987 $ 1,953,987 $ — $ — Deposits with banks $ 51,119 $ 51,235 $ 8,362 $ 42,873 $ — Notes receivable, net $ 38,204 $ 38,686 $ — $ — $ 38,686 Secured financings receivable $ 651,048 $ 651,048 $ — $ 651,048 $ — Liabilities: Secured financings payable $ 593,607 $ 593,607 $ — $ 593,607 $ — Notes and contracts payable $ 1,648,863 $ 1,732,520 $ — $ 1,728,170 $ 4,350 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	9 Months Ended
	Sep. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-Based Compensation	Note 15 – Share-Based Compensation Costs associated with the Company’s share-based compensation plans are summarized as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2021 2020 2021 2020 Expense: RSUs $ 6,084 $ 7,049 $ 41,908 $ 39,763 Employee stock purchase plan 1,181 1,355 4,725 4,237 $ 7,265 $ 8,404 $ 46,633 $ 44,000 RSU activity for the nine months ended September 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 866 $ 56.41 Vested during 2021 (840 ) $ 55.81 Forfeited during 2021 (24 ) $ 56.75 Unvested at September 30 , 2021 907 $ 57.78

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Stockholders' Equity	Note 16 – Stockholders’ Equity In August 2021, the Company’s board of directors approved an increase in size of the Company’s stock repurchase plan from $300.0 million to $600.0 million, of which $463.1 million remained as of September 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 nine months ended September 30, 2021, the Company repurchased and retired 1.4 million shares of its common stock for a total purchase price of $78.8 million and, as of September 30, 2021, had repurchased and retired 2.6 million shares of its common stock under the current authorization for a total purchase price of $136.9 million.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss) ("AOCI")	9 Months Ended
	Sep. 30, 2021
Accumulated Other Comprehensive Income Other Comprehensive Income [Abstract]
Accumulated Other Comprehensive Income (Loss) ("AOCI")	Note 17 – Accumulated Other Comprehensive Income (Loss) (“AOCI”) The following table presents a summary of the changes in each component of AOCI for the nine months ended September 30, 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 (138,430 ) — — (138,430 ) (1 ) (138,431 ) 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 — (3,844 ) — (3,844 ) — (3,844 ) Amortization of net actuarial loss — — 5,070 5,070 — 5,070 Amortization of prior service credit — — (978 ) (978 ) — (978 ) Tax effect 33,942 9 (1,086 ) 32,865 — 32,865 Balance at September 30, 2021 $ 66,899 $ (41,825 ) $ (91,215 ) $ (66,141 ) $ — $ (66,141 ) The following table presents the other comprehensive income (loss) reclassification adjustments for the three months ended September 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 September 30, 2021 Pretax change before reclassifications $ (49,970 ) $ (12,948 ) $ — $ (62,918 ) Reclassifications out of AOCI (6,925 ) — 1,364 (5,561 ) Tax effect 14,181 329 (362 ) 14,148 Total other comprehensive income (loss), net of tax $ (42,714 ) $ (12,619 ) $ 1,002 $ (54,331 ) Three Months Ended September 30, 2020 Pretax change before reclassifications $ 9,110 $ 10,817 $ — $ 19,927 Reclassifications out of AOCI (6,627 ) — 544 (6,083 ) Tax effect (499 ) (743 ) (145 ) (1,387 ) Total other comprehensive income (loss), net of tax $ 1,984 $ 10,074 $ 399 $ 12,457 The following table presents the other comprehensive income (loss) reclassification adjustments for the nine months ended September 30, 2021 and 2020: (in thousands) Unrealized gains (losses) on debt securities Foreign currency translation adjustment Pension benefit adjustment Total other comprehensive income (loss) Nine Months Ended September 30, 2021 Pretax change before reclassifications $ (120,979 ) $ (3,844 ) $ — $ (124,823 ) Reclassifications out of AOCI (17,817 ) — 4,092 (13,725 ) Tax effect 33,942 9 (1,086 ) 32,865 Total other comprehensive income (loss), net of tax $ (104,854 ) $ (3,835 ) $ 3,006 $ (105,683 ) Nine Months Ended September 30, 2020 Pretax change before reclassifications $ 102,392 $ (9,498 ) $ — $ 92,894 Reclassifications out of AOCI (5,175 ) — 1,630 (3,545 ) Tax effect (24,000 ) 389 (433 ) (24,044 ) Total other comprehensive income (loss), net of tax $ 73,217 $ (9,109 ) $ 1,197 $ 65,305 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 September 30, Nine Months Ended September 30, Affected line items (in thousands) 2021 2020 2021 2020 Unrealized gains (losses) on debt securities: Net realized gains on sales of debt securities $ 6,937 $ 6,694 $ 17,888 $ 12,749 Net realized investment gains Credit losses recognized on debt securities (12 ) (67 ) (71 ) (7,574 ) Net realized investment gains Pretax total $ 6,925 $ 6,627 $ 17,817 $ 5,175 Tax effect $ (1,726 ) $ (1,322 ) $ (4,357 ) $ (1,278 ) Pension benefit adjustment (1): Amortization of net actuarial loss $ (1,690 ) $ (1,321 ) $ (5,070 ) $ (3,961 ) Other operating expenses Amortization of prior service credit 326 777 978 2,331 Other operating expenses Pretax total $ (1,364 ) $ (544 ) $ (4,092 ) $ (1,630 ) Tax effect $ 363 $ 145 $ 1,086 $ 433 (1) Amounts are components of net periodic cost. See Note 13 Employee Benefit Plans for additional details.

Litigation and Regulatory Conti

Litigation and Regulatory Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments And Contingencies Disclosure [Abstract]
Litigation and Regulatory Contingencies	Note 18 – 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 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: • 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. Tenefufu is a 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. 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 $16.2 million, which is based on the exchange rate as of, and includes interest charges through September 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	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Segment Information	Note 19 – Segment Information The Company consists of the following reportable segments: • 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. • Effective July 1, 2021, the Company expanded its corporate segment to include investing in, and management of, its developing portfolio of private venture-stage companies. The operating results for certain of the Company’s investments in private venture-stage companies were previously reported within the title insurance and services segment. This change serves to better align the Company’s segment reporting with a comparable change in internal management reporting during the current quarter. As a result of this change, the Company reclassified $85.8 million in net realized investment gains previously reported during the six months ended June 30, 2021 from the title insurance and services segment to the corporate segment. The Company did not reclassify prior year segment results as amounts were not material. The Company’s corporate segment also consists of certain financing facilities as well as corporate services that support the Company’s business operations. Selected financial information about the Company’s operations, by segment, is as follows: For the three months ended September 30, 2021: (in thousands) Revenues Income (loss) before income taxes Depreciation and amortization Capital expenditures Title Insurance and Services $ 2,146,779 $ 352,366 $ 37,792 $ 44,570 Specialty Insurance 132,226 (1,887 ) 1,410 965 Corporate 277,374 252,695 36 — Eliminations (451 ) — — — $ 2,555,928 $ 603,174 $ 39,238 $ 45,535 (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 $ 794,215 $ 998,534 $ 307,616 $ 49,827 $ (3,413 ) $ 2,146,779 Specialty Insurance 127,121 — 2,789 1,682 634 132,226 $ 921,336 $ 998,534 $ 310,405 $ 51,509 $ (2,779 ) $ 2,279,005 For the three months ended September 30, 2020: (in thousands) Revenues Income (loss) before income taxes Depreciation and amortization Capital expenditures Title Insurance and Services $ 1,771,993 $ 337,480 $ 36,194 $ 33,034 Specialty Insurance 136,332 (72,129 ) 1,995 2,114 Corporate 6,055 (21,980 ) 38 — Eliminations (659 ) — — — $ 1,913,721 $ 243,371 $ 38,227 $ 35,148 (in thousands) Direct premiums and escrow fees Agent premiums Information and other Net investment income Net realized investment gains (losses) Total Revenues Title Insurance and Services $ 680,910 $ 722,434 $ 282,671 $ 44,726 $ 41,252 $ 1,771,993 Specialty Insurance 127,037 — 3,450 2,105 3,740 136,332 $ 807,947 $ 722,434 $ 286,121 $ 46,831 $ 44,992 $ 1,908,325 For the nine months ended September 30, 2021: (in thousands) Revenues Income (loss) before income taxes Depreciation and amortization Capital expenditures Title Insurance and Services $ 6,054,309 $ 990,585 $ 113,976 $ 111,638 Specialty Insurance 420,335 24,106 4,392 2,484 Corporate 375,185 293,921 107 — Eliminations (1,781 ) — — — $ 6,848,048 $ 1,308,612 $ 118,475 $ 114,122 (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 $ 2,238,956 $ 2,748,723 $ 881,262 $ 139,963 $ 45,405 $ 6,054,309 Specialty Insurance 385,506 — 9,994 5,432 19,403 420,335 $ 2,624,462 $ 2,748,723 $ 891,256 $ 145,395 $ 64,808 $ 6,474,644 For the nine months ended September 30, 2020: (in thousands) Revenues Income (loss) before income taxes Depreciation and amortization Capital expenditures Title Insurance and Services $ 4,535,558 $ 648,261 $ 104,705 $ 86,456 Specialty Insurance 391,818 (51,954 ) 5,832 8,015 Corporate 9,260 (55,317 ) 115 — Eliminations (1,243 ) — — — $ 4,935,393 $ 540,990 $ 110,652 $ 94,471 (in thousands) Direct premiums and escrow fees Agent premiums Information and other Net investment income Net realized investment gains (losses) Total Revenues Title Insurance and Services $ 1,712,946 $ 1,920,011 $ 719,196 $ 147,628 $ 35,777 $ 4,535,558 Specialty Insurance 367,622 — 9,992 7,005 7,199 391,818 $ 2,080,568 $ 1,920,011 $ 729,188 $ 154,633 $ 42,976 $ 4,927,376

Basis of Condensed Consolidat_2

Basis of Condensed Consolidated Financial Statements (Policies)	9 Months Ended
	Sep. 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)	9 Months Ended
	Sep. 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 September 30, 2021 U.S. Treasury bonds $ 172,255 $ — $ 695 $ (1,207 ) $ 171,743 Municipal bonds 1,564,102 — 60,705 (11,006 ) 1,613,801 Foreign government bonds 232,495 — 2,209 (3,329 ) 231,375 Governmental agency bonds 208,094 — 3,975 (562 ) 211,507 Governmental agency mortgage-backed securities 5,360,175 — 44,912 (31,929 ) 5,373,158 U.S. corporate debt securities 1,002,449 (101 ) 23,760 (3,719 ) 1,022,389 Foreign corporate debt securities 461,183 — 12,137 (1,487 ) 471,833 $ 9,000,753 $ (101 ) $ 148,393 $ (53,239 ) $ 9,095,806 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 September 30, 2021 U.S. Treasury bonds $ 52,927 $ (916 ) $ 6,518 $ (291 ) $ 59,445 $ (1,207 ) Municipal bonds 570,038 (10,724 ) 6,711 (282 ) 576,749 (11,006 ) Foreign government bonds 125,918 (1,094 ) 29,032 (2,235 ) 154,950 (3,329 ) Governmental agency bonds 72,325 (469 ) 3,222 (93 ) 75,547 (562 ) Governmental agency mortgage-backed securities 3,070,056 (31,928 ) 103 (1 ) 3,070,159 (31,929 ) U.S. corporate debt securities 425,854 (3,388 ) 6,848 (331 ) 432,702 (3,719 ) Foreign corporate debt securities 161,416 (1,473 ) 1,234 (14 ) 162,650 (1,487 ) $ 4,478,534 $ (49,992 ) $ 53,668 $ (3,247 ) $ 4,532,202 $ (53,239 ) 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 nine months ended September 30, 2021 and 2020, is summarized as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2021 2020 2021 2020 Balance at beginning of period $ (105 ) $ (1,380 ) $ (132 ) $ — Credit losses recognized during the period — — — (7,493 ) Net (increases) decreases to credit losses previously recognized (4 ) 278 — 3,738 Reductions for securities sold/matured 8 271 31 2,924 Reclassification to assets previously held for sale — 10 — 10 Balance at end of period $ (101 ) $ (821 ) $ (101 ) $ (821 )
Investments in Debt Securities by Contractual Maturity	Investments in debt securities at September 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 $ 46,695 $ 78,036 $ 25,518 $ 22,006 $ 172,255 Estimated fair value $ 46,776 $ 77,850 $ 25,673 $ 21,444 $ 171,743 Municipal bonds Amortized cost 26,737 97,493 751,040 688,832 1,564,102 Estimated fair value 26,884 102,020 771,806 713,091 1,613,801 Foreign government bonds Amortized cost 52,799 93,254 76,214 10,228 232,495 Estimated fair value 52,826 94,105 74,215 10,229 231,375 Governmental agency bonds Amortized cost 19,375 80,313 37,500 70,906 208,094 Estimated fair value 19,596 81,677 37,644 72,590 211,507 U.S. corporate debt securities Amortized cost 36,886 479,958 414,830 70,775 1,002,449 Estimated fair value 37,292 492,943 417,154 75,000 1,022,389 Foreign corporate debt securities Amortized cost 20,621 266,364 134,173 40,025 461,183 Estimated fair value 20,876 272,278 136,133 42,546 471,833 Total debt securities excluding mortgage-backed securities Amortized cost $ 203,113 $ 1,095,418 $ 1,439,275 $ 902,772 $ 3,640,578 Estimated fair value $ 204,250 $ 1,120,873 $ 1,462,625 $ 934,900 $ 3,722,648 Total mortgage-backed securities Amortized cost 5,360,175 Estimated fair value 5,373,158 Total debt securities Amortized cost $ 9,000,753 Estimated fair value $ 9,095,806
Composition of Debt Securities Portfolio by Credit Rating Agencies	The composition of the debt securities portfolio at September 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 Debt securities: U.S. Treasury bonds $ 171,743 100.0 $ — — $ — — $ 171,743 Municipal bonds 1,577,214 97.7 36,587 2.3 — — 1,613,801 Foreign government bonds 218,100 94.2 10,088 4.4 3,187 1.4 231,375 Governmental agency bonds 211,507 100.0 — — — — 211,507 Governmental agency mortgage-backed securities 5,373,158 100.0 — — — — 5,373,158 U.S. corporate debt securities 435,436 42.6 403,668 39.5 183,285 17.9 1,022,389 Foreign corporate debt securities 200,539 42.5 222,298 47.1 48,996 10.4 471,833 $ 8,187,697 90.0 $ 672,641 7.4 $ 235,468 2.6 $ 9,095,806
Composition of Debt Securities Portfolio in Unrealized Loss Position by Credit Rating Agencies	The composition of the debt securities portfolio in an unrealized loss position at September 30, 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 U.S. Treasury bonds $ 59,445 100.0 $ — — $ — — $ 59,445 Municipal bonds 563,613 97.7 13,136 2.3 — — 576,749 Foreign government bonds 153,987 99.4 — — 963 0.6 154,950 Governmental agency bonds 75,547 100.0 — — — — 75,547 Governmental agency mortgage-backed securities 3,070,159 100.0 — — — — 3,070,159 U.S. corporate debt securities 233,772 54.0 127,998 29.6 70,932 16.4 432,702 Foreign corporate debt securities 94,410 58.0 47,163 29.0 21,077 13.0 162,650 $ 4,250,933 93.7 $ 188,297 4.2 $ 92,972 2.1 $ 4,532,202

Equity Securities (Tables)

Equity Securities (Tables)	9 Months Ended
	Sep. 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) September 30, December 31, Marketable equity securities $ 760,758 $ 464,126 Non-marketable equity securities 379,548 217,104 Equity method investments 69,373 68,781 $ 1,209,679 $ 750,011
Summary of Investments in Marketable Equity Securities	Investments in marketable equity securities are summarized as follows: (in thousands) Cost Estimated fair value September 30, 2021 Preferred stocks $ 16,810 $ 16,944 Common stocks (1) 443,137 743,814 $ 459,947 $ 760,758 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 September 30, 2021 $ 198,155 $ 181,393 $ 379,548 December 31, 2020 $ 200,858 $ 16,246 $ 217,104

Allowance for Credit Losses __2

Allowance for Credit Losses – Accounts Receivable (Tables)	9 Months Ended
	Sep. 30, 2021
Receivables [Abstract]
Summary of Allowance for Credit Losses on Accounts Receivables	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 September 30, Nine Months Ended September 30, (in thousands) 2021 2020 2021 2020 Balance at beginning of period $ (12,439 ) $ (12,172 ) $ (13,994 ) $ (12,676 ) Provision for expected credit losses (1,816 ) (1,526 ) (2,582 ) (4,547 ) Reclassification to assets previously held for sale — 365 — 365 Write-offs/recoveries 900 733 3,221 4,258 Balance at end of period $ (13,355 ) $ (12,600 ) $ (13,355 ) $ (12,600 )

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Sep. 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 nine months ended September 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 38,276 — 38,276 Foreign currency translation (626 ) — (626 ) Balance at September 30 , 2021 Goodwill $ 1,403,691 $ 46,765 $ 1,450,456 Accumulated impairment losses — (34,178 ) (34,178 ) $ 1,403,691 $ 12,587 $ 1,416,278

Other Intangible Assets (Tables

Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2021
Intangible Assets Gross Excluding Goodwill [Abstract]
Schedule of Other Intangible Assets	Other intangible assets are summarized as follows: (in thousands) September 30, 2021 December 31, 2020 Finite-lived intangible assets: Customer relationships $ 182,800 $ 172,851 Noncompete agreements 32,860 38,310 Trademarks 26,334 24,370 Internal-use software licenses 24,363 21,605 Patents 2,840 2,840 269,197 259,976 Accumulated amortization (97,487 ) (82,380 ) 171,710 177,596 Indefinite-lived intangible assets: Licenses 16,878 16,878 $ 188,588 $ 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 $ 12,275 2022 $ 40,535 2023 $ 34,877 2024 $ 27,452 2025 $ 21,071 2026 $ 20,335

Reserve for Known and Incurre_2

Reserve for Known and Incurred but Not Reported Claims (Tables)	9 Months Ended
	Sep. 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: Nine Months Ended (in thousands) 2021 2020 Balance at beginning of period $ 1,178,004 $ 1,063,044 Provision related to: Current year 428,501 379,987 Prior years 17,176 34,014 445,677 414,001 Payments, net of recoveries, related to: Current year 204,525 179,654 Prior years 151,920 163,067 356,445 342,721 Other (5,721 ) (3,882 ) Reclassification to liabilities previously held for sale — (60,583 ) Balance at end of period $ 1,261,515 $ 1,069,859 A summary of the Company’s loss reserves is as follows: (in thousands, except percentages) September 30, 2021 December 31, 2020 Known title claims $ 67,487 5.4 % $ 64,601 5.5 % Incurred but not reported claims 1,108,208 87.8 % 1,025,761 87.1 % Total title claims 1,175,695 93.2 % 1,090,362 92.6 % Non-title claims 85,820 6.8 % 87,642 7.4 % Total loss reserves $ 1,261,515 100.0 % $ 1,178,004 100.0 %

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 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 September 30, Nine Months Ended September 30, (in thousands, except per share amounts) 2021 2020 2021 2020 Numerator Net income attributable to the Company $ 445,250 $ 182,279 $ 981,165 $ 416,138 Denominator Basic weighted-average shares 110,956 112,584 111,000 112,913 Effect of dilutive restricted stock units (“RSUs”) 412 259 344 263 Diluted weighted-average shares 111,368 112,843 111,344 113,176 Net income per share attributable to the Company’s stockholders Basic $ 4.01 $ 1.62 $ 8.84 $ 3.69 Diluted $ 4.00 $ 1.62 $ 8.81 $ 3.68

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	9 Months Ended
	Sep. 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 September 30, Nine Months Ended September 30, (in thousands) 2021 2020 2021 2020 Expense: Service costs $ 43 $ 44 $ 129 $ 134 Interest costs 1,239 1,781 3,717 5,343 Amortization of net actuarial loss 1,690 1,321 5,070 3,961 Amortization of prior service credit (326 ) (777 ) (978 ) (2,331 ) $ 2,646 $ 2,369 $ 7,938 $ 7,107

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 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 September 30, 2021 Debt securities: U.S. Treasury bonds $ 171,743 $ — $ 171,743 $ — Municipal bonds 1,613,801 — 1,613,801 — Foreign government bonds 231,375 — 231,375 — Governmental agency bonds 211,507 — 211,507 — Governmental agency mortgage-backed securities 5,373,158 — 5,373,158 — U.S. corporate debt securities 1,022,389 — 1,022,389 — Foreign corporate debt securities 471,833 — 471,833 — 9,095,806 — 9,095,806 — Marketable equity securities: Preferred stocks 16,944 16,944 — — Common stocks 743,814 743,814 — — 760,758 760,758 — — Total assets $ 9,856,564 $ 760,758 $ 9,095,806 $ — (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 September 30, 2021 Assets: Cash and cash equivalents $ 1,953,987 $ 1,953,987 $ 1,953,987 $ — $ — Deposits with banks $ 51,119 $ 51,235 $ 8,362 $ 42,873 $ — Notes receivable, net $ 38,204 $ 38,686 $ — $ — $ 38,686 Secured financings receivable $ 651,048 $ 651,048 $ — $ 651,048 $ — Liabilities: Secured financings payable $ 593,607 $ 593,607 $ — $ 593,607 $ — Notes and contracts payable $ 1,648,863 $ 1,732,520 $ — $ 1,728,170 $ 4,350 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)	9 Months Ended
	Sep. 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 September 30, Nine Months Ended September 30, (in thousands) 2021 2020 2021 2020 Expense: RSUs $ 6,084 $ 7,049 $ 41,908 $ 39,763 Employee stock purchase plan 1,181 1,355 4,725 4,237 $ 7,265 $ 8,404 $ 46,633 $ 44,000
Summary of RSU Activity	RSU activity for the nine months ended September 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 866 $ 56.41 Vested during 2021 (840 ) $ 55.81 Forfeited during 2021 (24 ) $ 56.75 Unvested at September 30 , 2021 907 $ 57.78

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) ("AOCI") (Tables)	9 Months Ended
	Sep. 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 nine months ended September 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 (138,430 ) — — (138,430 ) (1 ) (138,431 ) 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 — (3,844 ) — (3,844 ) — (3,844 ) Amortization of net actuarial loss — — 5,070 5,070 — 5,070 Amortization of prior service credit — — (978 ) (978 ) — (978 ) Tax effect 33,942 9 (1,086 ) 32,865 — 32,865 Balance at September 30, 2021 $ 66,899 $ (41,825 ) $ (91,215 ) $ (66,141 ) $ — $ (66,141 )
Adjustments for Reclassification of Other Comprehensive Income (Loss)	The following table presents the other comprehensive income (loss) reclassification adjustments for the three months ended September 30, 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 September 30, 2021 Pretax change before reclassifications $ (49,970 ) $ (12,948 ) $ — $ (62,918 ) Reclassifications out of AOCI (6,925 ) — 1,364 (5,561 ) Tax effect 14,181 329 (362 ) 14,148 Total other comprehensive income (loss), net of tax $ (42,714 ) $ (12,619 ) $ 1,002 $ (54,331 ) Three Months Ended September 30, 2020 Pretax change before reclassifications $ 9,110 $ 10,817 $ — $ 19,927 Reclassifications out of AOCI (6,627 ) — 544 (6,083 ) Tax effect (499 ) (743 ) (145 ) (1,387 ) Total other comprehensive income (loss), net of tax $ 1,984 $ 10,074 $ 399 $ 12,457 The following table presents the other comprehensive income (loss) reclassification adjustments for the nine months ended September 30, 2021 and 2020: (in thousands) Unrealized gains (losses) on debt securities Foreign currency translation adjustment Pension benefit adjustment Total other comprehensive income (loss) Nine Months Ended September 30, 2021 Pretax change before reclassifications $ (120,979 ) $ (3,844 ) $ — $ (124,823 ) Reclassifications out of AOCI (17,817 ) — 4,092 (13,725 ) Tax effect 33,942 9 (1,086 ) 32,865 Total other comprehensive income (loss), net of tax $ (104,854 ) $ (3,835 ) $ 3,006 $ (105,683 ) Nine Months Ended September 30, 2020 Pretax change before reclassifications $ 102,392 $ (9,498 ) $ — $ 92,894 Reclassifications out of AOCI (5,175 ) — 1,630 (3,545 ) Tax effect (24,000 ) 389 (433 ) (24,044 ) Total other comprehensive income (loss), net of tax $ 73,217 $ (9,109 ) $ 1,197 $ 65,305
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 September 30, Nine Months Ended September 30, Affected line items (in thousands) 2021 2020 2021 2020 Unrealized gains (losses) on debt securities: Net realized gains on sales of debt securities $ 6,937 $ 6,694 $ 17,888 $ 12,749 Net realized investment gains Credit losses recognized on debt securities (12 ) (67 ) (71 ) (7,574 ) Net realized investment gains Pretax total $ 6,925 $ 6,627 $ 17,817 $ 5,175 Tax effect $ (1,726 ) $ (1,322 ) $ (4,357 ) $ (1,278 ) Pension benefit adjustment (1): Amortization of net actuarial loss $ (1,690 ) $ (1,321 ) $ (5,070 ) $ (3,961 ) Other operating expenses Amortization of prior service credit 326 777 978 2,331 Other operating expenses Pretax total $ (1,364 ) $ (544 ) $ (4,092 ) $ (1,630 ) Tax effect $ 363 $ 145 $ 1,086 $ 433 (1) Amounts are components of net periodic cost. See Note 13 Employee Benefit Plans for additional details.

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 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 September 30, 2021: (in thousands) Revenues Income (loss) before income taxes Depreciation and amortization Capital expenditures Title Insurance and Services $ 2,146,779 $ 352,366 $ 37,792 $ 44,570 Specialty Insurance 132,226 (1,887 ) 1,410 965 Corporate 277,374 252,695 36 — Eliminations (451 ) — — — $ 2,555,928 $ 603,174 $ 39,238 $ 45,535 (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 $ 794,215 $ 998,534 $ 307,616 $ 49,827 $ (3,413 ) $ 2,146,779 Specialty Insurance 127,121 — 2,789 1,682 634 132,226 $ 921,336 $ 998,534 $ 310,405 $ 51,509 $ (2,779 ) $ 2,279,005 For the three months ended September 30, 2020: (in thousands) Revenues Income (loss) before income taxes Depreciation and amortization Capital expenditures Title Insurance and Services $ 1,771,993 $ 337,480 $ 36,194 $ 33,034 Specialty Insurance 136,332 (72,129 ) 1,995 2,114 Corporate 6,055 (21,980 ) 38 — Eliminations (659 ) — — — $ 1,913,721 $ 243,371 $ 38,227 $ 35,148 (in thousands) Direct premiums and escrow fees Agent premiums Information and other Net investment income Net realized investment gains (losses) Total Revenues Title Insurance and Services $ 680,910 $ 722,434 $ 282,671 $ 44,726 $ 41,252 $ 1,771,993 Specialty Insurance 127,037 — 3,450 2,105 3,740 136,332 $ 807,947 $ 722,434 $ 286,121 $ 46,831 $ 44,992 $ 1,908,325 For the nine months ended September 30, 2021: (in thousands) Revenues Income (loss) before income taxes Depreciation and amortization Capital expenditures Title Insurance and Services $ 6,054,309 $ 990,585 $ 113,976 $ 111,638 Specialty Insurance 420,335 24,106 4,392 2,484 Corporate 375,185 293,921 107 — Eliminations (1,781 ) — — — $ 6,848,048 $ 1,308,612 $ 118,475 $ 114,122 (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 $ 2,238,956 $ 2,748,723 $ 881,262 $ 139,963 $ 45,405 $ 6,054,309 Specialty Insurance 385,506 — 9,994 5,432 19,403 420,335 $ 2,624,462 $ 2,748,723 $ 891,256 $ 145,395 $ 64,808 $ 6,474,644 For the nine months ended September 30, 2020: (in thousands) Revenues Income (loss) before income taxes Depreciation and amortization Capital expenditures Title Insurance and Services $ 4,535,558 $ 648,261 $ 104,705 $ 86,456 Specialty Insurance 391,818 (51,954 ) 5,832 8,015 Corporate 9,260 (55,317 ) 115 — Eliminations (1,243 ) — — — $ 4,935,393 $ 540,990 $ 110,652 $ 94,471 (in thousands) Direct premiums and escrow fees Agent premiums Information and other Net investment income Net realized investment gains (losses) Total Revenues Title Insurance and Services $ 1,712,946 $ 1,920,011 $ 719,196 $ 147,628 $ 35,777 $ 4,535,558 Specialty Insurance 367,622 — 9,992 7,005 7,199 391,818 $ 2,080,568 $ 1,920,011 $ 729,188 $ 154,633 $ 42,976 $ 4,927,376

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies (Narrative) (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Non-Marketable Equity Securities	$ 379,548	$ 217,104
Equity Method Investments	69,373	68,781
Other assets	$ 360,373	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 Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disposal Group Not Discontinued Operation Disposal Disclosures [Abstract]
Impairment losses on exit of business	$ 0		$ 73,264	$ 0	$ 73,264
Revenues	24,300		35,300	103,000	101,300
Gain on disposition of business		$ 12,200
Income (loss) before income taxes	$ 10,500		$ 75,700	$ 11,100	$ 91,500

Escrow Deposits, Like-Kind Ex_2

Escrow Deposits, Like-Kind Exchange Deposits and Trust Assets (Narrative) (Detail) - USD ($) $ in Billions	Sep. 30, 2021	Dec. 31, 2020
Other Assets [Line Items]
Escrow deposits	$ 11.7	$ 7.1
Like-kind exchange funds	5.1	2.9
First American Trust
Other Assets [Line Items]
Escrow deposits	5.2	3.1
Assets held-in-trust	$ 4.6	$ 4.4

Debt Securities (Investments in

Debt Securities (Investments in Debt Securities, Classified as Available-For-Sale) (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost	$ 9,000,753		$ 6,121,004
Debt Securities, Allowance for credit losses	(101)	$ (105)	(132)	$ (821)	$ (1,380)	$ 0
Debt Securities, Gross unrealized gains	148,393		237,736
Debt Securities, Gross unrealized losses	(53,239)		(3,786)
Debt securities, Estimated fair value	9,095,806		6,354,822
U.S. Treasury bonds
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost	172,255		80,172
Debt Securities, Allowance for credit losses	0		0
Debt Securities, Gross unrealized gains	695		778
Debt Securities, Gross unrealized losses	(1,207)		(104)
Debt securities, Estimated fair value	171,743		80,846
Municipal bonds
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost	1,564,102		1,168,425
Debt Securities, Allowance for credit losses	0		0
Debt Securities, Gross unrealized gains	60,705		80,953
Debt Securities, Gross unrealized losses	(11,006)		(570)
Debt securities, Estimated fair value	1,613,801		1,248,808
Foreign government bonds
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost	232,495		194,042
Debt Securities, Allowance for credit losses	0		0
Debt Securities, Gross unrealized gains	2,209		6,004
Debt Securities, Gross unrealized losses	(3,329)		(516)
Debt securities, Estimated fair value	231,375		199,530
Governmental agency bonds
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost	208,094		254,248
Debt Securities, Allowance for credit losses	0		0
Debt Securities, Gross unrealized gains	3,975		9,869
Debt Securities, Gross unrealized losses	(562)		(195)
Debt securities, Estimated fair value	211,507		263,922
Governmental agency mortgage-backed securities
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost	5,360,175		3,401,737
Debt Securities, Allowance for credit losses	0		0
Debt Securities, Gross unrealized gains	44,912		74,549
Debt Securities, Gross unrealized losses	(31,929)		(1,668)
Debt securities, Estimated fair value	5,373,158		3,474,618
U.S. corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost	1,002,449		637,808
Debt Securities, Allowance for credit losses	(101)		(119)
Debt Securities, Gross unrealized gains	23,760		43,505
Debt Securities, Gross unrealized losses	(3,719)		(497)
Debt securities, Estimated fair value	1,022,389		680,697
Foreign corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Debt Securities, Amortized cost	461,183		384,572
Debt Securities, Allowance for credit losses	0		(13)
Debt Securities, Gross unrealized gains	12,137		22,078
Debt Securities, Gross unrealized losses	(1,487)		(236)
Debt securities, Estimated fair value	$ 471,833		$ 406,401

Debt Securities (Sales of Debt

Debt Securities (Sales of Debt Securities) (Narrative) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Investments Debt And Equity Securities [Abstract]
Realized gains on sales of debt securities	$ 7,100	$ 7,100	$ 25,300	$ 16,400
Realized losses on sales of debt securities	200	400	7,400	3,400
Proceeds from sales of debt securities	$ 189,100	$ 200,100	$ 869,057	$ 694,588

Debt Securities (Gross Unrealiz

Debt Securities (Gross Unrealized Losses on Investments in Debt Securities) (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value, Less than 12 months	$ 4,478,534	$ 513,733
Unrealized losses, Less than 12 months	(49,992)	(3,190)
Estimated fair value, 12 months or longer	53,668	102,106
Unrealized losses, 12 months or longer	(3,247)	(596)
Estimated fair value, Total	4,532,202	615,839
Unrealized losses, Total	(53,239)	(3,786)
U.S. Treasury bonds
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value, Less than 12 months	52,927	7,744
Unrealized losses, Less than 12 months	(916)	(104)
Estimated fair value, 12 months or longer	6,518	0
Unrealized losses, 12 months or longer	(291)	0
Estimated fair value, Total	59,445	7,744
Unrealized losses, Total	(1,207)	(104)
Municipal bonds
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value, Less than 12 months	570,038	74,045
Unrealized losses, Less than 12 months	(10,724)	(570)
Estimated fair value, 12 months or longer	6,711	0
Unrealized losses, 12 months or longer	(282)	0
Estimated fair value, Total	576,749	74,045
Unrealized losses, Total	(11,006)	(570)
Foreign government bonds
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value, Less than 12 months	125,918	67,094
Unrealized losses, Less than 12 months	(1,094)	(516)
Estimated fair value, 12 months or longer	29,032	0
Unrealized losses, 12 months or longer	(2,235)	0
Estimated fair value, Total	154,950	67,094
Unrealized losses, Total	(3,329)	(516)
Governmental agency bonds
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value, Less than 12 months	72,325	15,353
Unrealized losses, Less than 12 months	(469)	(195)
Estimated fair value, 12 months or longer	3,222	0
Unrealized losses, 12 months or longer	(93)	0
Estimated fair value, Total	75,547	15,353
Unrealized losses, Total	(562)	(195)
Governmental agency mortgage-backed securities
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value, Less than 12 months	3,070,056	287,947
Unrealized losses, Less than 12 months	(31,928)	(1,089)
Estimated fair value, 12 months or longer	103	100,473
Unrealized losses, 12 months or longer	(1)	(579)
Estimated fair value, Total	3,070,159	388,420
Unrealized losses, Total	(31,929)	(1,668)
U.S. corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value, Less than 12 months	425,854	42,508
Unrealized losses, Less than 12 months	(3,388)	(484)
Estimated fair value, 12 months or longer	6,848	1,357
Unrealized losses, 12 months or longer	(331)	(13)
Estimated fair value, Total	432,702	43,865
Unrealized losses, Total	(3,719)	(497)
Foreign corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value, Less than 12 months	161,416	19,042
Unrealized losses, Less than 12 months	(1,473)	(232)
Estimated fair value, 12 months or longer	1,234	276
Unrealized losses, 12 months or longer	(14)	(4)
Estimated fair value, Total	162,650	19,318
Unrealized losses, Total	$ (1,487)	$ (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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Investments Debt And Equity Securities [Abstract]
Balance at beginning of period	$ (105)	$ (1,380)	$ (132)	$ 0
Credit losses recognized during the period	0	0	0	(7,493)
Net (increases) decreases to credit losses previously recognized	(4)	278	0	3,738
Reductions for securities sold/matured	8	271	31	2,924
Reclassification to assets previously held for sale		10	0	10
Balance at end of period	$ (101)	$ (821)	$ (101)	$ (821)

Debt Securities (Investments _2

Debt Securities (Investments in Debt Securities by Contractual Maturity) (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Schedule Of Available For Sale Securities [Line Items]
Debt securities, amortized cost	$ 9,000,753	$ 6,121,004
Debt securities, Estimated fair value	9,095,806	6,354,822
U.S. Treasury bonds
Schedule Of Available For Sale Securities [Line Items]
Amortized cost, Due in one year or less	46,695
Amortized cost, Due after one through five years	78,036
Amortized cost, Due after five through ten years	25,518
Amortized cost, Due after ten years	22,006
Debt securities, amortized cost	172,255	80,172
Estimated fair value, Due in one year or less	46,776
Estimated fair value, Due after one through five years	77,850
Estimated fair value, Due after five through ten years	25,673
Estimated fair value, Due after ten years	21,444
Debt securities, Estimated fair value	171,743	80,846
Municipal bonds
Schedule Of Available For Sale Securities [Line Items]
Amortized cost, Due in one year or less	26,737
Amortized cost, Due after one through five years	97,493
Amortized cost, Due after five through ten years	751,040
Amortized cost, Due after ten years	688,832
Debt securities, amortized cost	1,564,102	1,168,425
Estimated fair value, Due in one year or less	26,884
Estimated fair value, Due after one through five years	102,020
Estimated fair value, Due after five through ten years	771,806
Estimated fair value, Due after ten years	713,091
Debt securities, Estimated fair value	1,613,801	1,248,808
Foreign government bonds
Schedule Of Available For Sale Securities [Line Items]
Amortized cost, Due in one year or less	52,799
Amortized cost, Due after one through five years	93,254
Amortized cost, Due after five through ten years	76,214
Amortized cost, Due after ten years	10,228
Debt securities, amortized cost	232,495	194,042
Estimated fair value, Due in one year or less	52,826
Estimated fair value, Due after one through five years	94,105
Estimated fair value, Due after five through ten years	74,215
Estimated fair value, Due after ten years	10,229
Debt securities, Estimated fair value	231,375	199,530
Governmental agency bonds
Schedule Of Available For Sale Securities [Line Items]
Amortized cost, Due in one year or less	19,375
Amortized cost, Due after one through five years	80,313
Amortized cost, Due after five through ten years	37,500
Amortized cost, Due after ten years	70,906
Debt securities, amortized cost	208,094	254,248
Estimated fair value, Due in one year or less	19,596
Estimated fair value, Due after one through five years	81,677
Estimated fair value, Due after five through ten years	37,644
Estimated fair value, Due after ten years	72,590
Debt securities, Estimated fair value	211,507	263,922
U.S. corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Amortized cost, Due in one year or less	36,886
Amortized cost, Due after one through five years	479,958
Amortized cost, Due after five through ten years	414,830
Amortized cost, Due after ten years	70,775
Debt securities, amortized cost	1,002,449	637,808
Estimated fair value, Due in one year or less	37,292
Estimated fair value, Due after one through five years	492,943
Estimated fair value, Due after five through ten years	417,154
Estimated fair value, Due after ten years	75,000
Debt securities, Estimated fair value	1,022,389	680,697
Foreign corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Amortized cost, Due in one year or less	20,621
Amortized cost, Due after one through five years	266,364
Amortized cost, Due after five through ten years	134,173
Amortized cost, Due after ten years	40,025
Debt securities, amortized cost	461,183	384,572
Estimated fair value, Due in one year or less	20,876
Estimated fair value, Due after one through five years	272,278
Estimated fair value, Due after five through ten years	136,133
Estimated fair value, Due after ten years	42,546
Debt securities, Estimated fair value	471,833	$ 406,401
Debt Securities Excluding Mortgage Backed Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized cost, Due in one year or less	203,113
Amortized cost, Due after one through five years	1,095,418
Amortized cost, Due after five through ten years	1,439,275
Amortized cost, Due after ten years	902,772
Debt securities, amortized cost	3,640,578
Estimated fair value, Due in one year or less	204,250
Estimated fair value, Due after one through five years	1,120,873
Estimated fair value, Due after five through ten years	1,462,625
Estimated fair value, Due after ten years	934,900
Debt securities, Estimated fair value	3,722,648
Total Mortgage-Backed Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized cost	5,360,175
Estimated fair value	$ 5,373,158

Debt Securities (Composition of

Debt Securities (Composition of Debt Securities Portfolio by Credit Rating Agencies) (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 9,095,806	$ 6,354,822
U.S. Treasury bonds
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	171,743	80,846
Municipal bonds
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	1,613,801	1,248,808
Foreign government bonds
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	231,375	199,530
Governmental agency bonds
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	211,507	263,922
Governmental agency mortgage-backed securities
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	5,373,158	3,474,618
U.S. corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	1,022,389	680,697
Foreign corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	471,833	$ 406,401
Investment Grade | A- or higher
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 8,187,697
Percentage of debt securities by credit rating agencies	90.00%
Investment Grade | BBB+ to BBB-
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 672,641
Percentage of debt securities by credit rating agencies	7.40%
Investment Grade | U.S. Treasury bonds | A- or higher
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 171,743
Percentage of debt securities by credit rating agencies	100.00%
Investment Grade | U.S. Treasury bonds | 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%
Investment Grade | Municipal bonds | A- or higher
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 1,577,214
Percentage of debt securities by credit rating agencies	97.70%
Investment Grade | Municipal bonds | BBB+ to BBB-
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 36,587
Percentage of debt securities by credit rating agencies	2.30%
Investment Grade | Foreign government bonds | A- or higher
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 218,100
Percentage of debt securities by credit rating agencies	94.20%
Investment Grade | Foreign government bonds | BBB+ to BBB-
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 10,088
Percentage of debt securities by credit rating agencies	4.40%
Investment Grade | Governmental agency bonds | A- or higher
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 211,507
Percentage of debt securities by credit rating agencies	100.00%
Investment Grade | Governmental agency bonds | 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%
Investment Grade | Governmental agency mortgage-backed securities | A- or higher
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 5,373,158
Percentage of debt securities by credit rating agencies	100.00%
Investment Grade | Governmental agency mortgage-backed securities | 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%
Investment Grade | U.S. corporate debt securities | A- or higher
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 435,436
Percentage of debt securities by credit rating agencies	42.60%
Investment Grade | U.S. corporate debt securities | BBB+ to BBB-
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 403,668
Percentage of debt securities by credit rating agencies	39.50%
Investment Grade | Foreign corporate debt securities | A- or higher
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 200,539
Percentage of debt securities by credit rating agencies	42.50%
Investment Grade | Foreign corporate debt securities | BBB+ to BBB-
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 222,298
Percentage of debt securities by credit rating agencies	47.10%
Non-Investment Grade
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 235,468
Percentage of debt securities by credit rating agencies	2.60%
Non-Investment Grade | U.S. Treasury bonds
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 0
Percentage of debt securities by credit rating agencies	0.00%
Non-Investment Grade | Municipal bonds
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 0
Percentage of debt securities by credit rating agencies	0.00%
Non-Investment Grade | Foreign government bonds
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 3,187
Percentage of debt securities by credit rating agencies	1.40%
Non-Investment Grade | Governmental agency bonds
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 0
Percentage of debt securities by credit rating agencies	0.00%
Non-Investment Grade | Governmental agency mortgage-backed securities
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 0
Percentage of debt securities by credit rating agencies	0.00%
Non-Investment Grade | U.S. corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 183,285
Percentage of debt securities by credit rating agencies	17.90%
Non-Investment Grade | Foreign corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 48,996
Percentage of debt securities by credit rating agencies	10.40%

Debt Securities (Debt Securitie

Debt Securities (Debt Securities Investment Portfolio) (Narrative) (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 9,095,806	$ 6,354,822
Bank Loans
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	141,400
High Yield Corporate Debt Securities
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	85,500
Emerging Market Securities
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	91,000
Non-Investment Grade
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	235,468
Non-Investment Grade | Bank Loans
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	135,700
Non-Investment Grade | Emerging Market Securities
Schedule Of Available For Sale Securities [Line Items]
Debt securities, Estimated fair value	$ 14,300

Debt Securities (Composition _2

Debt Securities (Composition of Debt Securities Portfolio in Unrealized Loss Position by Credit Rating Agencies) (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 4,532,202	$ 615,839
Investment Grade | A- or higher
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 4,250,933
Percentage of debt securities in unrealized loss position	93.70%
Investment Grade | BBB+ to BBB-
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 188,297
Percentage of debt securities in unrealized loss position	4.20%
Non-Investment Grade
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 92,972
Percentage of debt securities in unrealized loss position	2.10%
U.S. Treasury bonds
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 59,445	7,744
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	$ 59,445
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	$ 576,749	74,045
Municipal bonds | Investment Grade | A- or higher
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 563,613
Percentage of debt securities in unrealized loss position	97.70%
Municipal bonds | Investment Grade | BBB+ to BBB-
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 13,136
Percentage of debt securities in unrealized loss position	2.30%
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	$ 154,950	67,094
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	$ 153,987
Percentage of debt securities in unrealized loss position	99.40%
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	$ 963
Percentage of debt securities in unrealized loss position	0.60%
Governmental agency bonds
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 75,547	15,353
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	$ 75,547
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	$ 3,070,159	388,420
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	$ 3,070,159
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	$ 432,702	43,865
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	$ 233,772
Percentage of debt securities in unrealized loss position	54.00%
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	$ 127,998
Percentage of debt securities in unrealized loss position	29.60%
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	$ 70,932
Percentage of debt securities in unrealized loss position	16.40%
Foreign corporate debt securities
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 162,650	$ 19,318
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	$ 94,410
Percentage of debt securities in unrealized loss position	58.00%
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	$ 47,163
Percentage of debt securities in unrealized loss position	29.00%
Foreign corporate debt securities | Non-Investment Grade
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 21,077
Percentage of debt securities in unrealized loss position	13.00%

Debt Securities (Debt Securit_2

Debt Securities (Debt Securities in Unrealized Loss Position) (Narrative) (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 4,532,202	$ 615,839
Bank Loans
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	57,300
Emerging Market Securities
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	25,800
Non-Investment Grade
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	92,972
Non-Investment Grade | Bank Loans
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	55,500
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	31,800
Non-Investment Grade | Emerging Market Securities
Schedule Of Available For Sale Securities [Line Items]
Estimated fair value of debt securities, Unrealized loss position	$ 5,700

Equity Securities (Summary of I

Equity Securities (Summary of Investments in Equity Securities, by Classification) (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Investments Debt And Equity Securities [Abstract]
Marketable equity securities	$ 760,758	$ 464,126
Non-Marketable Equity Securities	379,548	217,104
Equity method investments	69,373	68,781
Investments In Equity Securities Total	$ 1,209,679	$ 750,011

Equity Securities (Summary of_2

Equity Securities (Summary of Investments in Marketable Equity Securities) (Detail) - USD ($) $ in Thousands	Sep. 30, 2021		Dec. 31, 2020
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Equity securities, Cost	$ 459,947		$ 376,320
Equity securities, Estimated fair value	760,758		464,126
Preferred stocks
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Equity securities, Cost	16,810		22,163
Equity securities, Estimated fair value	16,944		19,479
Common stocks
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Equity securities, Cost	443,137	[1]	354,157
Equity securities, Estimated fair value	$ 743,814	[1]	$ 444,647
[1]	Includes Offerpad Solutions Inc. with a cost of $85.0 million and estimated fair value of $280.3 million. See below for further discussion about the Company’s investment in Offerpad Solutions Inc.

Equity Securities (Summary of_3

Equity Securities (Summary of Investments in Marketable Equity Securities) (Detail) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Equity securities, Cost	$ 459,947	$ 376,320
Equity securities, Estimated fair value	760,758	$ 464,126
Offerpad Inc
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Equity securities, Cost	85,000
Equity securities, Estimated fair value	$ 280,300

Equity Securities (Narrative) (

Equity Securities (Narrative) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Schedule Of Investments [Line Items]
Realized and unrealized net gains (losses) on equity securities	$ (16,100)	$ 26,000	$ 27,200	$ 2,600
Net unrealized gains (losses) on equity securities	(16,700)	26,100	25,500	2,400
Investments in non marketable equity securities	379,548		379,548		$ 217,104
Offerpad Inc
Schedule Of Investments [Line Items]
Net unrealized gains (losses) on equity securities	195,300		195,300
Investments in non marketable equity securities	280,300		280,300		280,300
Non Marketable Equity Securities
Schedule Of Investments [Line Items]
Investments in non marketable equity securities	379,548		379,548		217,104
Cost	198,155		198,155		$ 200,858
Net unrealized gains on equity securities	79,400	$ 9,300	165,100	$ 9,300
Non Marketable Equity Securities | Side Inc
Schedule Of Investments [Line Items]
Investments in non marketable equity securities	73,800		73,800
Cost	10,100		10,100
Non Marketable Equity Securities | Orchard Technologies Inc
Schedule Of Investments [Line Items]
Investments in non marketable equity securities	106,300		106,300
Cost	$ 41,000		$ 41,000

Equity Securities (Summary of_4

Equity Securities (Summary of Investments in Non-Marketable Equity Securities) (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Equity Securities Without Readily Determinable Fair Value [Line Items]
Carrying amount	$ 379,548	$ 217,104
Non Marketable Equity Securities
Equity Securities Without Readily Determinable Fair Value [Line Items]
Cost	198,155	200,858
Unrealized gains	181,393	16,246
Carrying amount	$ 379,548	$ 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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Receivables [Abstract]
Balance at beginning of period	$ (12,439)	$ (12,172)	$ (13,994)	$ (12,676)
Provision for expected credit losses	(1,816)	(1,526)	(2,582)	(4,547)
Reclassification to assets previously held for sale	0	365	0	365
Write-offs/recoveries	900	733	3,221	4,258
Balance at end of period	$ (13,355)	$ (12,600)	$ (13,355)	$ (12,600)

Goodwill (Carrying Amount of Go

Goodwill (Carrying Amount of Goodwill by Reportable Segment) (Detail) $ in Thousands	9 Months Ended
	Sep. 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	38,276
Foreign currency translation	(626)
Goodwill, Gross Ending Balance	1,450,456
Accumulated impairment losses Ending Balance	(34,178)
Goodwill, Ending Balance	1,416,278
Title Insurance and Services
Goodwill [Line Items]
Goodwill, Gross Beginning Balance	1,366,041
Goodwill, Beginning Balance	1,366,041
Acquisitions	38,276
Foreign currency translation	(626)
Goodwill, Gross Ending Balance	1,403,691
Goodwill, Ending Balance	1,403,691
Specialty Insurance
Goodwill [Line Items]
Goodwill, Gross Beginning Balance	46,765
Accumulated impairment losses Beginning Balance	(34,178)
Goodwill, Beginning Balance	12,587
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	Sep. 30, 2021	Dec. 31, 2020
Intangible Assets Net Excluding Goodwill [Abstract]
Customer relationships	$ 182,800	$ 172,851
Noncompete agreements	32,860	38,310
Trademarks	26,334	24,370
Internal-use software licenses	24,363	21,605
Patents	2,840	2,840
Finite-lived intangible assets, gross	269,197	259,976
Accumulated amortization	(97,487)	(82,380)
Finite-lived intangible assets, net	171,710	177,596
Licenses	16,878	16,878
Other intangibles assets, net	$ 188,588	$ 194,474

Other Intangible Assets (Narrat

Other Intangible Assets (Narrative) (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Intangible Assets Net Excluding Goodwill [Abstract]
Amortization expense	$ 12.8	$ 11.6	$ 36.6	$ 31.4

Other Intangible Assets (Estima

Other Intangible Assets (Estimated Amortization Expense for Finite-Lived Intangible Assets) (Detail) $ in Thousands	Sep. 30, 2021USD ($)
Intangible Assets Net Excluding Goodwill [Abstract]
Remainder of 2021	$ 12,275
2022	40,535
2023	34,877
2024	27,452
2025	21,071
2026	$ 20,335

Reserve for Known and Incurre_3

Reserve for Known and Incurred but Not Reported Claims (Activity in Reserve for Known and Incurred but Not Reported Claims) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 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			428,501	379,987
Provision related to prior years			17,176	34,014
Total Provision	$ 155,300	$ 157,836	445,677	414,001
Payments, net of recoveries, related to: Current year			204,525	179,654
Payments, net of recoveries, related to: Prior years			151,920	163,067
Total Payments, net of recoveries			356,445	342,721
Other			(5,721)	(3,882)
Reclassification to liabilities previously held for sale				(60,583)
Balance at end of period	$ 1,261,515	$ 1,069,859	$ 1,261,515	$ 1,069,859

Reserve for Known and Incurre_4

Reserve for Known and Incurred but Not Reported Claims (Narrative) (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 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	$ 7		$ 18.2
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	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Insurance [Abstract]
Known title claims, amount	$ 67,487	$ 64,601
Incurred but not reported claims, amount	1,108,208	1,025,761
Total title claims, amount	1,175,695	1,090,362
Non-title claims, amount	85,820	87,642
Total loss reserves, amount	$ 1,261,515	$ 1,178,004	$ 1,069,859	$ 1,063,044
Known title claims, percent	5.40%	5.50%
Incurred but not reported claims, percent	87.80%	87.10%
Total title claims, percent	93.20%	92.60%
Non-title claims, percent	6.80%	7.40%
Total loss reserves, percent	100.00%	100.00%

Notes and Contracts Payable (Na

Notes and Contracts Payable (Narrative) (Detail) - 2.400% Unsecured Notes $ in Millions	1 Months Ended
	Jul. 31, 2021USD ($)
Debt Instrument [Line Items]
Senior unsecured notes	$ 650
Debt instrument stated interest rate	2.40%
Debt instrument maturity date	Aug. 15, 2031
Interest due, periodic	semi-annually
Due date of interest to be paid semi-annually, beginning	Feb. 15, 2022

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Effective income tax rates	25.30%	24.60%	24.50%	22.50%
Liability for income taxes associated with uncertain tax positions	$ 7,700		$ 7,700		$ 7,200
Offsetting tax benefits related to uncertain tax positions	$ 2,700		2,700		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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Earnings Per Share [Abstract]
Net income attributable to the Company	$ 445,250	$ 182,279	$ 981,165	$ 416,138
Basic weighted-average shares	110,956	112,584	111,000	112,913
Effect of dilutive restricted stock units (“RSUs”)	412	259	344	263
Diluted weighted-average shares	111,368	112,843	111,344	113,176
Basic	$ 4.01	$ 1.62	$ 8.84	$ 3.69
Diluted	$ 4	$ 1.62	$ 8.81	$ 3.68

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Detail) - shares shares in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
RSUs
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from the weighted-average diluted common shares outstanding	172	284

Employee Benefit Plans (Net Per

Employee Benefit Plans (Net Periodic Cost) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Defined Benefit Plan Net Periodic Benefit Cost [Abstract]
Service costs	$ 43	$ 44	$ 129	$ 134
Interest costs	1,239	1,781	3,717	5,343
Amortization of net actuarial loss	1,690	1,321	5,070	3,961
Amortization of prior service credit	(326)	(777)	(978)	(2,331)
Net periodic costs	$ 2,646	$ 2,369	$ 7,938	$ 7,107

Employee Benefit Plans (Narrati

Employee Benefit Plans (Narrative) (Detail) - Unfunded Supplemental Benefit Plans $ in Millions	9 Months Ended
	Sep. 30, 2021USD ($)
Defined Benefit Plan Disclosure [Line Items]
Contribution for pension obligation	$ 10.8
Cash contribution to plans during the remainder	$ 4.6

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value of Assets Measured on Recurring Basis) (Detail) - USD ($) $ in Thousands	Sep. 30, 2021		Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	$ 9,095,806		$ 6,354,822
Equity securities, estimated fair value	760,758		464,126
Debt and Equity securities, estimated fair value	9,856,564		6,818,948
Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Equity securities, estimated fair value	760,758		464,126
Debt and Equity securities, estimated fair value	760,758		464,126
Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	9,095,806		6,354,822
Debt and Equity securities, estimated fair value	9,095,806		6,354,822
U.S. Treasury bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	171,743		80,846
U.S. Treasury bonds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	171,743		80,846
Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	1,613,801		1,248,808
Municipal bonds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	1,613,801		1,248,808
Foreign government bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	231,375		199,530
Foreign government bonds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	231,375		199,530
Governmental agency bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	211,507		263,922
Governmental agency bonds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	211,507		263,922
Governmental agency mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	5,373,158		3,474,618
Governmental agency mortgage-backed securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	5,373,158		3,474,618
U.S. corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	1,022,389		680,697
U.S. corporate debt securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	1,022,389		680,697
Foreign corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	471,833		406,401
Foreign corporate debt securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Debt securities, estimated fair value	471,833		406,401
Preferred stocks
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Equity securities, estimated fair value	16,944		19,479
Preferred stocks | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Equity securities, estimated fair value	16,944		19,479
Common stock
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Equity securities, estimated fair value	743,814	[1]	444,647
Common stock | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Equity securities, estimated fair value	$ 743,814		$ 444,647
[1]	Includes Offerpad Solutions Inc. with a cost of $85.0 million and estimated fair value of $280.3 million. See below for further discussion about the Company’s investment in Offerpad Solutions Inc.

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2021USD ($)
Level 2 | Non Marketable Equity Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Net unrealized gains (losses) on equity securities	$ 165.1

Fair Value Measurements (Carryi

Fair Value Measurements (Carrying Amounts and Estimated Fair Values of Financial Instruments Not Measured at Fair Value) (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Carrying Amount
Assets:
Cash and cash equivalents	$ 1,953,987	$ 1,275,466
Deposits with banks	51,119	45,856
Notes receivable, net	38,204	29,912
Secured financings receivable	651,048	748,312
Liabilities:
Secured financings payable	593,607	516,155
Notes and contracts payable	1,648,863	1,010,756
Estimated Fair Value
Assets:
Cash and cash equivalents	1,953,987	1,275,466
Deposits with banks	51,235	45,947
Notes receivable, net	38,686	30,279
Secured financings receivable	651,048	748,312
Liabilities:
Secured financings payable	593,607	516,155
Notes and contracts payable	1,732,520	1,131,356
Estimated Fair Value | Level 1
Assets:
Cash and cash equivalents	1,953,987	1,275,466
Deposits with banks	8,362	6,092
Estimated Fair Value | Level 2
Assets:
Deposits with banks	42,873	39,855
Secured financings receivable	651,048	748,312
Liabilities:
Secured financings payable	593,607	516,155
Notes and contracts payable	1,728,170	1,125,128
Estimated Fair Value | Level 3
Assets:
Notes receivable, net	38,686	30,279
Liabilities:
Notes and contracts payable	$ 4,350	$ 6,228

Share-Based Compensation (Costs

Share-Based Compensation (Costs Associated with Share-Based Compensation Plans) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation	$ 7,265	$ 8,404	$ 46,633	$ 44,000
RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation	6,084	7,049	41,908	39,763
Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation	$ 1,181	$ 1,355	$ 4,725	$ 4,237

Share-Based Compensation (Summa

Share-Based Compensation (Summary of RSU Activity) (Detail) - RSUs - RSUs shares in Thousands	9 Months Ended
	Sep. 30, 2021$ / sharesshares
RSU, Shares
Unvested at December 31, 2020 | shares	905
Granted during 2021 | shares	866
Vested during 2021 | shares	(840)
Forfeited during 2021 | shares	(24)
Unvested at September 30, 2021 | shares	907
RSU, Weighted-average grant-date fair value
Unvested at December 31, 2020 | $ / shares	$ 57.24
Granted during 2021 | $ / shares	56.41
Vested during 2021 | $ / shares	55.81
Forfeited during 2021 | $ / shares	56.75
Unvested at September 30, 2021 | $ / shares	$ 57.78

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Detail) - USD ($) shares in Millions, $ in Millions	9 Months Ended	127 Months Ended
	Sep. 30, 2021	Sep. 30, 2021	Aug. 31, 2021
Stock repurchase program, authorized amount			$ 300
Remaining authorized amount under stock repurchase program	$ 463.1	$ 463.1
Common stock repurchased, shares	1.4	2.6
Purchase of Company, value	$ 78.8	$ 136.9
Maximum
Stock repurchase program, authorized amount			$ 600

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (AOCI) (Components of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 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			(138,431)
Change in unrealized gains (losses) on debt securities for which credit-related portion was recognized in earnings			(365)
Change in foreign currency translation adjustment			(3,844)
Amortization of net actuarial loss			5,070
Amortization of prior service credit			(978)
Tax effect	$ 14,148	$ (1,387)	32,865	$ (24,044)
Accumulated other comprehensive income (loss), net of tax, Ending Balance	(66,141)		(66,141)
Stockholders equity attributable to noncontrolling interest, Ending Balance	15,850		15,850
Accumulated other comprehensive income (loss) including non-controlling interest, Ending Balance	(66,141)		(66,141)
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			(138,430)
Change in unrealized gains (losses) on debt securities for which credit-related portion was recognized in earnings			(365)
Tax effect			33,942
Accumulated other comprehensive income (loss), debt securities, available-for-sale, adjustment, after tax, Ending Balance	66,899		66,899
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			(3,844)
Tax effect			9
Accumulated other comprehensive income (loss), foreign currency translation adjustment, net of tax, Ending Balance	(41,825)		(41,825)
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			5,070
Amortization of prior service credit			(978)
Tax effect			(1,086)
Accumulated other comprehensive (income) Loss, defined benefit plan, after Tax, Ending Balance	(91,215)		(91,215)
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			(138,430)
Change in unrealized gains (losses) on debt securities for which credit-related portion was recognized in earnings			(365)
Change in foreign currency translation adjustment			(3,844)
Amortization of net actuarial loss			5,070
Amortization of prior service credit			(978)
Tax effect			32,865
Accumulated other comprehensive income (loss), net of tax, Ending Balance	$ (66,141)		(66,141)
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						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Accumulated Other Comprehensive Income Loss [Line Items]
Pretax change before reclassifications	$ (62,918)			$ 19,927			$ (124,823)	$ 92,894
Reclassifications out of AOCI	(5,561)			(6,083)			(13,725)	(3,545)
Tax effect	14,148			(1,387)			32,865	(24,044)
Total other comprehensive (loss) income, net of tax	(54,331)	$ 44,018	$ (95,370)	12,457	$ 73,301	$ (20,453)	(105,683)	65,305
Unrealized Gains (Losses) on Securities
Accumulated Other Comprehensive Income Loss [Line Items]
Pretax change before reclassifications	(49,970)			9,110			(120,979)	102,392
Reclassifications out of AOCI	(6,925)			(6,627)			(17,817)	(5,175)
Tax effect	14,181			(499)			33,942	(24,000)
Total other comprehensive (loss) income, net of tax	(42,714)			1,984			(104,854)	73,217
Foreign Currency Translation Adjustment
Accumulated Other Comprehensive Income Loss [Line Items]
Pretax change before reclassifications	(12,948)			10,817			(3,844)	(9,498)
Reclassifications out of AOCI	0			0			0	0
Tax effect	329			(743)			9	389
Total other comprehensive (loss) income, net of tax	(12,619)			10,074			(3,835)	(9,109)
Pension Benefit Adjustment
Accumulated Other Comprehensive Income Loss [Line Items]
Pretax change before reclassifications	0			0			0	0
Reclassifications out of AOCI	1,364			544			4,092	1,630
Tax effect	(362)			(145)			(1,086)	(433)
Total other comprehensive (loss) income, net of tax	$ 1,002			$ 399			$ 3,006	$ 1,197

Accumulated Other Comprehensi_5

Accumulated Other Comprehensive Income (Loss) (Reclassifications Out of AOCI) (Detail) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 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		$ 5,561	$ 6,083	13,725	$ 3,545
Amortization of net actuarial loss				(5,070)
Amortization of prior service credit				978
Unrealized Gains (Losses) on Securities
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Net realized gains on sales of debt securities		6,937	6,694	17,888	12,749
Change in unrealized gains (losses) on debt securities for which credit-related portion was recognized in earnings		(12)	(67)	(71)	(7,574)
Pretax total		6,925	6,627	17,817	5,175
Tax effect		(1,726)	(1,322)	(4,357)	(1,278)
Pension Benefit Adjustment
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Pretax total	[1]	(1,364)	(544)	(4,092)	(1,630)
Tax effect	[1]	363	145	1,086	433
Amortization of net actuarial loss	[1]	(1,690)	(1,321)	(5,070)	(3,961)
Amortization of prior service credit	[1]	$ 326	$ 777	$ 978	$ 2,331
[1]	Amounts are components of net periodic cost.  See Note 13 Employee Benefit Plans for additional details.

Litigation and Regulatory Con_2

Litigation and Regulatory Contingencies - Additional Information (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Canadian Taxing Authority [Member]
Loss Contingencies [Line Items]
Income tax authority assessment	$ 16.2

Segment Information (Narrative)

Segment Information (Narrative) (Detail) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)State	Sep. 30, 2020USD ($)
Segment Reporting Information [Line Items]
Number of states issues title insurance policies			49
Number of states licensed to issues property and casualty insurance policies			50
Number of states issues home warranty contracts			35
Net realized investment gains | $	$ 275,243	$ 44,992	$ 428,590	$ 49,491
Corporate
Segment Reporting Information [Line Items]
Net realized investment gains | $	$ 85,800

Segment Information (Schedule o

Segment Information (Schedule of Selected Financial Information) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
Revenues	$ 2,555,928	$ 1,913,721	$ 6,848,048	$ 4,935,393
Income (loss) before income taxes	603,174	243,371	1,308,612	540,990
Depreciation and amortization	39,238	38,227	118,475	110,652
Capital expenditures	45,535	35,148	114,122	94,471
Direct premiums and escrow fees	921,336	807,947	2,624,462	2,080,568
Agent premiums	998,534	722,434	2,748,723	1,920,011
Information and other	310,145	285,882	890,476	728,563
Net investment income	50,670	52,466	155,797	156,760
Net realized investment gains (losses)	275,243	44,992	428,590	49,491
Operating Segments
Segment Reporting Information [Line Items]
Revenues	2,279,005	1,908,325	6,474,644	4,927,376
Direct premiums and escrow fees	921,336	807,947	2,624,462	2,080,568
Agent premiums	998,534	722,434	2,748,723	1,920,011
Information and other	310,405	286,121	891,256	729,188
Net investment income	51,509	46,831	145,395	154,633
Net realized investment gains (losses)	(2,779)	44,992	64,808	42,976
Operating Segments | Title Insurance and Services
Segment Reporting Information [Line Items]
Revenues	2,146,779	1,771,993	6,054,309	4,535,558
Income (loss) before income taxes	352,366	337,480	990,585	648,261
Depreciation and amortization	37,792	36,194	113,976	104,705
Capital expenditures	44,570	33,034	111,638	86,456
Direct premiums and escrow fees	794,215	680,910	2,238,956	1,712,946
Agent premiums	998,534	722,434	2,748,723	1,920,011
Information and other	307,616	282,671	881,262	719,196
Net investment income	49,827	44,726	139,963	147,628
Net realized investment gains (losses)	(3,413)	41,252	45,405	35,777
Operating Segments | Specialty Insurance
Segment Reporting Information [Line Items]
Revenues	132,226	136,332	420,335	391,818
Income (loss) before income taxes	(1,887)	(72,129)	24,106	(51,954)
Depreciation and amortization	1,410	1,995	4,392	5,832
Capital expenditures	965	2,114	2,484	8,015
Direct premiums and escrow fees	127,121	127,037	385,506	367,622
Agent premiums	0	0	0	0
Information and other	2,789	3,450	9,994	9,992
Net investment income	1,682	2,105	5,432	7,005
Net realized investment gains (losses)	634	3,740	19,403	7,199
Corporate
Segment Reporting Information [Line Items]
Revenues	277,374	6,055	375,185	9,260
Income (loss) before income taxes	252,695	(21,980)	293,921	(55,317)
Depreciation and amortization	36	38	107	115
Capital expenditures	0	0	0	0
Net realized investment gains (losses)	85,800
Eliminations
Segment Reporting Information [Line Items]
Revenues	(451)	(659)	(1,781)	(1,243)
Income (loss) before income taxes	0	0	0	0
Depreciation and amortization	0	0	0	0
Capital expenditures	$ 0	$ 0	$ 0	$ 0