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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Income tax expense (benefit) on continuing operations consists of the following:

			Year Ended December 31,
			2021						2020						2019
			(In millions)
Current			$	656					$	379					$	268
Deferred			57						(57)						40
			$	713					$	322					$	308

Schedule of Components of Income Tax Expense (Benefit)

Total income tax expense was allocated as follows:

			Year Ended December 31,
			2021						2020						2019
			(In millions)
Net earnings from continuing operations			$	713					$	322					$	308
Other comprehensive (loss) earnings:
Unrealized (loss) gain on investments and other financial instruments			(141)						332						16
Unrealized gain on foreign currency translation and cash flow hedging			—						1						1
Minimum pension liability adjustment			(2)						4						—
Total income tax (benefit) expense allocated to other comprehensive earnings			(143)						337						17
Total income taxes			$	570					$	659					$	325

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the federal statutory rate to our effective tax rate is as follows:

			Year Ended December 31,
			2021						2020						2019
Federal statutory rate			21.0		%				21.0		%				21.0		%
State income taxes, net of federal benefit			1.6						2.5						1.7
Stock compensation			(0.2)						(0.3)						(0.8)
Tax credits			(0.2)						(0.4)						(0.1)
Consolidated partnerships			(0.1)						(0.3)						(0.2)
Tax gain on parent shares held			0.5						—						—
Valuation allowance for deferred tax assets			(0.3)						(3.0)						—
Change in tax status benefit			—						(2.0)						—
Non-deductible expenses and other, net			0.8						0.5						0.9
Effective tax rate			23.1		%				18.0		%				22.5		%

Schedule of Deferred Tax Assets and Liabilities

The significant components of deferred tax assets and liabilities consist of the following:

			December 31,
			2021						2020
			(In millions)
Deferred Tax Assets:
Employee benefit accruals			$	111					$	94
Net operating loss carryforwards			27						17
Accrued liabilities			1						12
Allowance for uncollectible accounts receivable			5						5
Pension plan			2						—
Tax credits			77						59
State income taxes			8						4
Capital loss carryover			41						35
Basis difference held-for-sale			—						19
Life insurance and claim related adjustments			854						861
Funds held under reinsurance agreements			52						85
Other			33						13
Total gross deferred tax asset			1,211						1,204
Less: valuation allowance			33						45
Total deferred tax asset			$	1,178					$	1,159
Deferred Tax Liabilities:
Title plant			$	(52)					$	(56)
Amortization of goodwill and intangible assets			(140)						(148)
Other investments			—						(7)
Other			(2)						(23)
Investment securities			(401)						(601)
Depreciation			(29)						(17)
Partnerships			(182)						(83)
Value of business acquired			(249)						(308)
Derivatives			(68)						(38)
Deferred acquisition costs			(102)						(6)
Transition reserve on new reserve method			(34)						(43)
Funds held under reinsurance agreements			(74)						(58)
Title Insurance reserve discounting			(50)						(63)
Total deferred tax liability			$	(1,383)					$	(1,451)
Net deferred tax liability			$	(205)					$	(292)

Reconciliation of Beginning and Ending Unrecognized Tax Benefits

A reconciliation of the beginning and ending unrecognized tax benefits is as follows (in millions):

						Year ended December 31,
						2021						2020
Beginning balance						$	64					$	7
Additions based on positions taken in current year						—						58
Reductions related to statute of limitation lapses and audit payments						(4)						(1)
Ending balance						$	60					$	64

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of the change in unrecognized tax benefits.

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