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Accumulated Other Comprehensive Income (Loss) ("AOCI") | 12 Months Ended
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Dec. 31, 2021
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract] |
Accumulated Other Comprehensive Income (Loss) ("AOCI") | NOTE 21. Accumulated Other Comprehensive Income (Loss) (“AOCI”): The following table presents a summary of the changes in each component of AOCI for the years ended December 31, 2021, 2020 and 2019:
| First American Financial Corporation |  |
(in millions) | Unrealized gains (losses) on debt securities |  |  | Foreign currency translation adjustment |  |  | Pension benefit adjustment |  |  | Accumulated other comprehensive income (loss) |  |
Balance at December 31, 2018 | $ | (41 | ) |  | $ | (66 | ) |  | $ | (53 | ) |  | $ | (160 | ) |
Change in unrealized gains (losses) on debt securities |  | 164 |  |  |  | — |  |  |  | — |  |  |  | 164 |  |
Change in foreign currency translation adjustment |  | — |  |  |  | 15 |  |  |  | — |  |  |  | 15 |  |
Net actuarial loss |  | — |  |  |  | — |  |  |  | (27 | ) |  |  | (27 | ) |
Amortization of net actuarial loss |  | — |  |  |  | — |  |  |  | 4 |  |  |  | 4 |  |
Amortization of prior service credit |  | — |  |  |  | — |  |  |  | (4 | ) |  |  | (4 | ) |
Tax effect |  | (39 | ) |  |  | (1 | ) |  |  | 7 |  |  |  | (33 | ) |
Balance at December 31, 2019 |  | 84 |  |  |  | (52 | ) |  |  | (73 | ) |  |  | (41 | ) |
Change in unrealized gains (losses) on debt securities |  | 116 |  |  |  | — |  |  |  | — |  |  |  | 116 |  |
Change in unrealized gains (losses) on debt securities for which credit-related portion was recognized in earnings |  | 1 |  |  |  | — |  |  |  | — |  |  |  | 1 |  |
Change in foreign currency translation adjustment |  | — |  |  |  | 14 |  |  |  | — |  |  |  | 14 |  |
Net actuarial loss |  | — |  |  |  | — |  |  |  | (31 | ) |  |  | (31 | ) |
Amortization of net actuarial loss |  | — |  |  |  | — |  |  |  | 5 |  |  |  | 5 |  |
Amortization of prior service credit |  | — |  |  |  | — |  |  |  | (3 | ) |  |  | (3 | ) |
Tax effect |  | (29 | ) |  |  | — |  |  |  | 8 |  |  |  | (21 | ) |
Balance at December 31, 2020 | $ | 172 |  |  | $ | (38 | ) |  | $ | (94 | ) |  | $ | 40 |  |
Change in unrealized gains (losses) on debt securities |  | (189 | ) |  |  | — |  |  |  | — |  |  |  | (189 | ) |
Change in foreign currency translation adjustment |  | — |  |  |  | (2 | ) |  |  | — |  |  |  | (2 | ) |
Net actuarial gain |  | — |  |  |  | — |  |  |  | 11 |  |  |  | 11 |  |
Amortization of net actuarial loss |  | — |  |  |  | — |  |  |  | 7 |  |  |  | 7 |  |
Amortization of prior service credit |  | — |  |  |  | — |  |  |  | (1 | ) |  |  | (1 | ) |
Tax effect |  | 46 |  |  |  | 1 |  |  |  | (5 | ) |  |  | 42 |  |
Balance at December 31, 2021 | $ | 29 |  |  | $ | (39 | ) |  | $ | (82 | ) |  | $ | (92 | ) |
The following table presents the other comprehensive income (loss) reclassification adjustments for the years ended December 31, 2021, 2020 and 2019:
| Unrealized gains (losses) on debt securities |  |  | Foreign currency translation adjustment |  |  | Pension benefit adjustment |  |  | Total other comprehensive income (loss) |
| (in millions) |
Year ended December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pretax change before reclassifications | $ | (169 | ) |  | $ | (2 | ) |  | $ | 11 |  |  | $ | (160 | )
Reclassifications out of AOCI |  | (20 | ) |  |  | — |  |  |  | 6 |  |  |  | (14 | )
Tax effect |  | 46 |  |  |  | 1 |  |  |  | (5 | ) |  |  | 42 |
Total other comprehensive income (loss), net of tax | $ | (143 | ) |  | $ | (1 | ) |  | $ | 12 |  |  | $ | (132 | )
Year ended December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pretax change before reclassifications | $ | 125 |  |  | $ | 14 |  |  | $ | (31 | ) |  | $ | 108 |
Reclassifications out of AOCI |  | (8 | ) |  |  | — |  |  |  | 2 |  |  |  | (6 | )
Tax effect |  | (29 | ) |  |  | — |  |  |  | 8 |  |  |  | (21 | )
Total other comprehensive income (loss), net of tax | $ | 88 |  |  | $ | 14 |  |  | $ | (21 | ) |  | $ | 81 |
Year ended December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pretax change before reclassifications | $ | 168 |  |  | $ | 15 |  |  | $ | (27 | ) |  | $ | 156 |
Reclassifications out of AOCI |  | (4 | ) |  |  | — |  |  |  | — |  |  |  | (4 | )
Tax effect |  | (39 | ) |  |  | (1 | ) |  |  | 7 |  |  |  | (33 | )
Total other comprehensive income (loss), net of tax | $ | 125 |  |  | $ | 14 |  |  | $ | (20 | ) |  | $ | 119 |
The following table presents the effects of the reclassifications out of AOCI on the respective line items in the consolidated statements of income:
| Amounts reclassified from AOCI |  |  |  |  |
| Year ended December 31, |  |  |  |  |
(in millions) | 2021 |  |  | 2020 |  |  | 2019 |  |  |  | Affected line items |
Unrealized gains (losses) on debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net realized gains on sales of debt securities | $ | 20 |  |  | $ | 15 |  |  | $ | 4 |  |  |  | Net investment gains |
Credit losses recognized on debt securities |  | — |  |  |  | (7 | ) |  |  | — |  |  |  | Net investment gains |
Pretax total | $ | 20 |  |  | $ | 8 |  |  | $ | 4 |  |  |  |  |
Tax effect | $ | (5 | ) |  | $ | (2 | ) |  | $ | (1 | ) |  |  |  |
Pension benefit adjustment (1): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortization of net actuarial loss | $ | (7 | ) |  | $ | (5 | ) |  | $ | (4 | ) |  |  | Other operating expenses |
Amortization of prior service credit |  | 1 |  |  |  | 3 |  |  |  | 4 |  |  |  | Other operating expenses |
Pretax total | $ | (6 | ) |  | $ | (2 | ) |  | $ | — |  |  |  |  |
Tax effect | $ | 2 |  |  | $ | 1 |  |  | $ | — |  |  |  |  |
(1) | Amounts are components of net periodic cost. See Note 17 Employee Benefit Plans for additional details.

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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -URI http://asc.fasb.org/topic&trid=2134417 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263 + Details
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