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Business Combinations | 12 Months Ended
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Dec. 31, 2021
Business Combinations [Abstract] |
Business Combinations | NOTE 23. Business Combinations: During the year ended December 31, 2021, the Company completed acquisitions for an aggregate purchase price of $257 million in cash and contingent consideration, subject to earnout provisions, up to a maximum of an additional $124 million in cash. For acquisitions in which the Company has not completed its purchase price allocation, preliminary fair value estimates for the assets acquired and liabilities assumed have been recorded. These acquisitions have been included in the Company’s title insurance and services segment. Current year acquisitions included the purchase of all the remaining interest in a residential mortgage subservicing company in October 2021 and the purchase of a leading provider of escrow and escrow related ancillary services for real estate transactions within the Southern California region in December 2021. The purchase price for these transactions included $145 million in cash and contingent consideration, subject to earnout provisions, up to a maximum payout of $124 million in additional cash. The potential payout under the earnout provisions is based on the achievement of certain performance metrics through 2026. In connection with these purchases, the Company recorded preliminary fair values for goodwill, other intangible assets, mortgage servicing rights, mortgage loans held for sale, loans eligible for repurchase and excess servicing spread financing of $131 million, $39 million, $15 million, $5 million, $70 million and $10 million, respectively.

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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