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Condensed Financial Statements (Parent Company) | 12 Months Ended
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Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract] |
Condensed Financial Information of Parent Company Only Disclosure | S CHEDULE II 1 OF 5 FIRST AMERICAN FINANCIAL CORPORATION (Parent Company) CONDENSED BALANCE SHEETS (in millions, except par values)
|  | December 31, |
|  | 2023 |  |  | 2022 |
Assets |  |  |  |  |  |
Cash and cash equivalents |  | $ | 179.3 |  |  | $ | 597.2 |
Dividends receivable |  |  | 10.0 |  |  |  | — |
Due from subsidiaries, net |  |  | 58.2 |  |  |  | 10.3 |
Income taxes receivable |  |  | 75.7 |  |  |  | 22.0 |
Investment in subsidiaries |  |  | 6,152.6 |  |  |  | 5,908.3 |
Equity securities |  |  | 52.5 |  |  |  | 14.8 |
Deferred income taxes |  |  | 50.1 |  |  |  | 54.5 |
Other assets |  |  | 144.0 |  |  |  | 116.6 |
|  | $ | 6,722.4 |  |  | $ | 6,723.7 |
Liabilities and Equity |  |  |  |  |  |
Accounts payable and other accrued liabilities |  | $ | 35.3 |  |  | $ | 35.9 |
Pension costs and other retirement plans |  |  | 355.1 |  |  |  | 342.3 |
Income taxes payable |  |  | 15.9 |  |  |  | 10.0 |
Deferred income taxes |  |  | 63.6 |  |  |  | 16.3 |
Notes and contracts payable |  |  | 1,389.7 |  |  |  | 1,638.0 |
|  |  | 1,859.6 |  |  |  | 2,042.5 |
C ommitments and contingencies |  |  |  |  |  |
Stockholders’ equity: |  |  |  |  |  |
Preferred stock, $0.00001 par value; Authorized—0.5 shares; Outstanding—none |  |  | — |  |  |  | — |
Common stock, $0.00001 par value; Authorized—300.0 shares; |  |  |  |  |  |
Outstanding—103.1 shares and 103.2 shares |  |  | — |  |  |  | — |
Additional paid-in capital |  |  | 1,793.3 |  |  |  | 1,812.4 |
Retained earnings |  |  | 3,710.6 |  |  |  | 3,714.3 |
Accumulated other comprehensive loss |  |  | (655.8 | ) |  |  | (868.9 | )
Total stockholders’ equity |  |  | 4,848.1 |  |  |  | 4,657.8 |
Noncontrolling interests |  |  | 14.7 |  |  |  | 23.4 |
Total equity |  |  | 4,862.8 |  |  |  | 4,681.2 |
|  | $ | 6,722.4 |  |  | $ | 6,723.7 |
See Notes to Condensed Financial Statements SCHEDULE II 2 OF 5 FIRST AMERICAN FINANCIAL CORPORATION (Parent Company) CONDENSED STATEMENTS OF INCOME (in millions)
|  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Revenues: |  |  |  |  |  |  |  |  |
Dividends from subsidiaries |  | $ | 411.3 |  |  | $ | 732.7 |  |  | $ | 621.6 |
Other income (loss) |  |  | 22.5 |  |  |  | (22.2 | ) |  |  | 19.5 |
Net investment gains (losses) |  |  | 12.5 |  |  |  | (192.4 | ) |  |  | 120.7 |
|  |  | 446.3 |  |  |  | 518.1 |  |  |  | 761.8 |
Expenses: |  |  |  |  |  |  |  |  |
Other expenses |  |  | 97.8 |  |  |  | 55.1 |  |  |  | 83.7 |
Income before income taxes and equity in undistributed earnings of subsidiaries |  |  | 348.5 |  |  |  | 463.0 |  |  |  | 678.1 |
Income taxes |  |  | 74.8 |  |  |  | 86.0 |  |  |  | 162.1 |
Equity in undistributed (losses) earnings of subsidiaries |  |  | (58.2 | ) |  |  | (111.7 | ) |  |  | 733.1 |
Net income |  |  | 215.5 |  |  |  | 265.3 |  |  |  | 1,249.1 |
Less: Net (loss) income attributable to noncontrolling interests |  |  | (1.3 | ) |  |  | 2.3 |  |  |  | 8.0 |
Net income attributable to the Company |  | $ | 216.8 |  |  | $ | 263.0 |  |  | $ | 1,241.1 |
See Notes to Condensed Financial Statements SCHEDULE II 3 OF 5 FIRST AMERICAN FINANCIAL CORPORATION (Parent Company) CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (in millions)
|  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Net income |  | $ | 215.5 |  |  | $ | 265.3 |  |  | $ | 1,249.1 |
Other comprehensive income (loss), net of tax: |  |  |  |  |  |  |  |  |
Unrealized gains (losses) on securities |  |  | 198.0 |  |  |  | (780.9 | ) |  |  | (142.1 | )
Unrealized losses on debt securities for which credit-related portion was recognized in earnings |  |  | — |  |  |  | — |  |  |  | (0.4 | )
Foreign currency translation adjustment |  |  | 17.2 |  |  |  | (42.2 | ) |  |  | (1.9 | )
Pension benefit adjustment |  |  | (2.1 | ) |  |  | 46.6 |  |  |  | 12.4 |
Total other comprehensive income (loss), net of tax |  |  | 213.1 |  |  |  | (776.5 | ) |  |  | (132.0 | )
Comprehensive income (loss) |  |  | 428.6 |  |  |  | (511.2 | ) |  |  | 1,117.1 |
Less: Comprehensive (loss) income attributable to noncontrolling interests |  |  | (1.3 | ) |  |  | 2.3 |  |  |  | 8.0 |
Comprehensive income (loss) attributable to the Company |  | $ | 429.9 |  |  | $ | (513.5 | ) |  | $ | 1,109.1 |
See Notes to Condensed Financial Statements SCHEDULE II 4 OF 5 FIRST AMERICAN FINANCIAL CORPORATION (Parent Company) CONDENSED STATEMENTS OF CASH FLOWS (in millions)
|  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |
Cash provided by operating activities |  | $ | 309.0 |  |  | $ | 778.7 |  |  | $ | 641.4 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Acquisitions/dispositions, net of cash acquired/divested |  |  | (2.5 | ) |  |  | (296.0 | ) |  |  | — |
Net payments to subsidiaries |  |  | (160.8 | ) |  |  | (154.6 | ) |  |  | (259.5 | )
Purchases of equity securities |  |  | (25.0 | ) |  |  | — |  |  |  | — |
Cash used for investing activities |  |  | (188.3 | ) |  |  | (450.6 | ) |  |  | (259.5 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Net proceeds from issuance of unsecured senior notes |  |  | — |  |  |  | — |  |  |  | 641.9 |
Repayment of senior unsecured notes |  |  | (250.0 | ) |  |  | — |  |  |  | — |
Net activity related to noncontrolling interests |  |  | 0.3 |  |  |  | — |  |  |  | — |
Net proceeds in connection with share-based compensation |  |  | 0.4 |  |  |  | 2.5 |  |  |  | 6.3 |
Repurchases of Company shares |  |  | (72.7 | ) |  |  | (440.7 | ) |  |  | (99.2 | )
Payments of cash dividends |  |  | (216.6 | ) |  |  | (217.5 | ) |  |  | (213.0 | )
Cash (used for) provided by financing activities |  |  | (538.6 | ) |  |  | (655.7 | ) |  |  | 336.0 |
Net (decrease) increase in cash and cash equivalents |  |  | (417.9 | ) |  |  | (327.6 | ) |  |  | 717.9 |
Cash and cash equivalents—Beginning of period |  |  | 597.2 |  |  |  | 924.8 |  |  |  | 206.9 |
Cash and cash equivalents—End of period |  | $ | 179.3 |  |  | $ | 597.2 |  |  | $ | 924.8 |
See Notes to Condensed Financial Statements SCHEDULE II 5 OF 5 FIRST AMERICAN FINANCIAL CORPORATION (Parent Company) NOTES TO CONDENSED FINANCIAL STATEMENTS NOTE 1. Description of the Company: First American Financial Corporation is a holding company that conducts all of its operations through its subsidiaries. The Parent Company financial statements should be read in connection with the consolidated financial statements and notes thereto included elsewhere in this Form 10-K. NOTE 2. Dividends Received: The holding company received cash dividends from subsidiaries of $355.6 million, $731.0 million and $624.4 million for the years ended December 31, 2023, 2022 and 2021, respectively.

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 205 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480922/205-10-S99-6 Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481231/810-10-45-11 + Details
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