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Schedule II - Condensed Financial Information
 12 Months Ended
Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract]  
Schedule II - Condensed Financial Information
SCHEDULE II
FIDELITY NATIONAL FINANCIAL, INC.
(Parent Company)

BALANCE SHEETS
 December 31,
 20232022
 (In millions, except share data)
ASSETS
Cash$397 $406 
Short-term investments487 532 
Other long-term investments— 36 
Equity securities, at fair value— 1 
Investment in unconsolidated affiliates3 3 
Notes receivable268 303 
Investments in and amounts due from subsidiaries7,949 7,290 
Property and equipment, net3 2 
Prepaid expenses and other assets318 244 
Total assets$9,425 $8,817 
LIABILITIES AND EQUITY
Liabilities:  
Accounts payable and other accrued liabilities$358 $291 
Income taxes payable— — 
Deferred tax liability29 71 
Notes payable2,126 2,123 
Total liabilities2,513 2,485 
Equity:  
FNF common stock, $0.0001 par value; authorized 600,000,000 shares as of December 31, 2023 and December 31, 2022; outstanding of 273,366,235 and 279,064,457 as of December 31, 2023 and December 31, 2022, respectively, and issued of 329,185,916 and 327,757,349 as of December 31, 2023 and December 31, 2022, respectively
— — 
Preferred stock, $0.0001 par value; authorized 50,000,000 shares; issued and outstanding, none
— — 
Additional paid-in capital5,913 5,870 
Retained earnings5,244 5,225 
Accumulated other comprehensive earnings(2,119)(2,870)
Less: Treasury stock, 55,819,681 shares and 48,692,892 shares as of December 31, 2023 and December 31, 2022, respectively, at cost
(2,126)(1,893)
Total equity of Fidelity National Financial, Inc. common shareholders6,912 6,332 
Total liabilities and equity$9,425 $8,817 
SCHEDULE II

FIDELITY NATIONAL FINANCIAL, INC.
(Parent Company)

STATEMENTS OF EARNINGS AND RETAINED EARNINGS
 Year Ended December 31,
 202320222021
 (In millions, except per share data)
Revenues:   
Other fees and revenue$33 $(37)$24 
Interest and investment income and realized gains74 43 17 
Recognized gains and losses, net(31)(42)12 
Total revenues76 (36)53 
Expenses:   
Personnel expenses70 (11)54 
Other operating expenses47 15 25 
Interest expense77 92 87 
Total expenses194 96 166 
Losses before income tax benefit and equity in earnings of subsidiaries(118)(132)(113)
Income tax benefit(29)(33)(27)
Losses before equity in earnings of subsidiaries(89)(99)(86)
Equity in earnings of subsidiaries606 1,393 2,875 
Earnings from continuing operations517 1,294 2,789 
Equity in earnings of discontinued operations— — 8 
Net earnings attributable to Fidelity National Financial, Inc. common shareholders$517 $1,294 $2,797 
Retained earnings, beginning of year$5,225 $4,818 $2,468 
Dividends declared(498)(490)(447)
Distribution of F&G to FNF common shareholders— (397)— 
Net earnings attributable to Fidelity National Financial, Inc. common shareholders517 1,294 2,797 
Retained earnings, end of year$5,244 $5,225 $4,818 
SCHEDULE II
FIDELITY NATIONAL FINANCIAL, INC.
(Parent Company)

STATEMENTS OF CASH FLOWS
 Year Ended December 31,
 202320222021
 (In millions)
Cash Flows From Operating Activities:   
Net earnings$517 $1,294 $2,797 
Adjustments to reconcile net earnings to net cash provided by operating activities:
Equity in earnings of unconsolidated affiliates— — (6)
Equity in earnings of subsidiaries(606)(1,393)(2,875)
Depreciation and amortization1 1 1 
Stock-based compensation57 48 43 
Net change in income taxes(262)748 65 
Net (increase) decrease in prepaid expenses and other assets(72)41 (14)
Net increase in accounts payable and other accrued liabilities70 (51)36 
Net cash (used in) provided by operating activities(295)688 47 
Cash Flows From Investing Activities:   
Purchases of investments available for sale— — (52)
Net purchases of short-term investment activities82 (509)(6)
Additions to notes receivable(12)(87)(400)
Collection of notes receivable47 79 120 
Net cash provided by (used in) investing activities117 (517)(338)
Cash Flows From Financing Activities:   
Borrowings— — 449 
Debt service payments— (400)— 
Debt issuance costs— — (6)
Dividends paid(500)(489)(446)
Purchases of treasury stock(6)(553)(463)
Exercise of stock options15 39 48 
Payment for shares withheld for taxes and in treasury(17)(15)(17)
Additional investments in non-controlling interests(12)(2)— 
Net dividends from subsidiaries689 140 1,266 
Net cash provided by (used in) financing activities169 (1,280)831 
Net change in cash and cash equivalents(9)(1,109)540 
Cash at beginning of year406 1,515 975 
Cash at end of year$397 $406 $1,515 
See Notes to Financial Statements 
SCHEDULE II

FIDELITY NATIONAL FINANCIAL, INC.
(Parent Company)
 
NOTES TO FINANCIAL STATEMENTS

A.    Summary of Significant Accounting Policies
Fidelity National Financial, Inc. transacts substantially all of its business through its subsidiaries. The Parent Company Financial Statements should be read in connection with the aforementioned Consolidated Financial Statements and Notes thereto included elsewhere herein.
B.    Notes Payable
Notes payable consist of the following:
 December 31,
 20232022
 (In millions)
4.50% Notes, net of discount
$446 $445 
3.40% Notes, net of discount
644 644 
2.45% Notes, net of discount
594 594 
3.20% Notes, net of discount
444 443 
Revolving credit facility (2)(3)
 $2,126 $2,123 
C.    Supplemental Cash Flow Information
 Year Ended December 31,
 202320222021
 (In millions)
Cash paid during the year:   
Interest paid$73 $95 $81 
Income tax payments213 459 609 
D.     Cash Dividends Received
We have received cash dividends from subsidiaries and affiliates of $0.4 billion, $0.8 billion, and $0.6 billion during the years ended December 31, 2023, 2022, and 2021, respectively.

E.     Subsequent Events
Amendment to our Revolving Credit Facility
On February 16, 2024, we entered into a Sixth Amended and Restated Credit Agreement for our $800 million revolving credit facility (the "Amended Revolving Credit Facility") with Bank of America, N.A., as administrative agent and other agents party thereto (the "Sixth Restated Credit Agreement"). For further information related to the Amended Revolving Credit Facility and the Sixth Restated Credit Agreement refer to Note G Notes Payable.
Investment of $250 million in F&G
On January 12, 2024, we completed a $250 million preferred stock investment in F&G. F&G will use the net proceeds from the investment to support growth of its assets under management.
Under the terms of the agreement, we have agreed to invest $250 million in exchange for 5 million shares of F&G's 6.875% Series A Mandatory Convertible Preferred Stock, par value $0.001 per share (the "Mandatory Convertible Preferred Stock"). Each share of Mandatory Convertible Preferred Stock will have a liquidation preference of $50.00 per share. Unless earlier converted at the option of the holder, each outstanding share of the Mandatory Convertible Preferred Stock will automatically convert into shares of common stock of F&G on January 15, 2027 (the "Mandatory Conversion Date"). Upon conversion on the Mandatory Conversion Date, the conversion rate for each share of the Mandatory Convertible Preferred
Stock will be no more than 1.1111 shares of common stock and no less than 0.9456 shares of common stock per share of Mandatory Convertible Preferred Stock, depending on the value of F&G's common stock.