XML 22 R11.htm IDEA: XBRL DOCUMENT
v3.21.2

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.

X
- Definition Escrow deposits like kind exchange deposits and trust assets. + References No definition available. + Details
Name: | faf_EscrowDepositsLikeKindExchangeDepositsAndTrustAssetsTextBlock
Namespace Prefix: | faf_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration