XML 36 R29.htm IDEA: XBRL DOCUMENT v3.25.3

Debt Securities (Tables)

9 Months Ended

Sep. 30, 2025

Investments, Debt and Equity Securities [Abstract]

Investments in Debt Securities, Classified as Available-For-Sale

Investments in debt securities, classified as available-for-sale, are as follows:

		Amortized				Gross unrealized								Estimated
(in millions)		cost				Gains				Losses				fair value
September 30, 2025
U.S. Treasury bonds		$	249.4			$	1.4			$	(1.9	)		$	248.9
Municipal bonds			961.2				8.8				(59.7	)			910.3
Foreign government bonds			226.5				1.8				(4.7	)			223.6
Governmental agency bonds			243.0				0.3				(7.6	)			235.7
Governmental agency mortgage-backed securities			5,257.2				31.6				(198.2	)			5,090.6
U.S. corporate debt securities			1,048.8				16.4				(15.0	)			1,050.2
Foreign corporate debt securities			483.7				10.4				(5.2	)			488.9
		$	8,469.8			$	70.7			$	(292.3	)		$	8,248.2
December 31, 2024
U.S. Treasury bonds		$	180.7			$	0.1			$	(5.2	)		$	175.6
Municipal bonds			844.9				5.3				(73.7	)			776.5
Foreign government bonds			217.1				1.6				(7.1	)			211.6
Governmental agency bonds			203.8				—				(14.0	)			189.8
Governmental agency mortgage-backed securities			4,844.4				1.7				(343.8	)			4,502.3
U.S. corporate debt securities			948.4				5.6				(28.4	)			925.6
Foreign corporate debt securities			491.6				5.3				(12.4	)			484.5
		$	7,730.9			$	19.6			$	(484.6	)		$	7,265.9

Gross Unrealized Losses on Investments in Debt Securities

Investments in debt securities in an unrealized loss position, and their respective length of time in such position, are as follows:

		Less than 12 months								12 months or longer								Total
(in millions)		Estimated fair value				Unrealized losses				Estimated fair value				Unrealized losses				Estimated fair value				Unrealized losses
September 30, 2025
U.S. Treasury bonds		$	79.3			$	(0.4	)		$	36.1			$	(1.5	)		$	115.4			$	(1.9	)
Municipal bonds			185.7				(4.8	)			380.7				(54.9	)			566.4				(59.7	)
Foreign government bonds			11.8				—				60.1				(4.7	)			71.9				(4.7	)
Governmental agency bonds			144.7				(1.3	)			29.4				(6.3	)			174.1				(7.6	)
Governmental agency mortgage-backed    securities			1,533.5				(13.7	)			1,866.0				(184.5	)			3,399.5				(198.2	)
U.S. corporate debt securities			144.4				(1.4	)			107.8				(13.6	)			252.2				(15.0	)
Foreign corporate debt securities			44.8				(0.2	)			71.4				(5.0	)			116.2				(5.2	)
		$	2,144.2			$	(21.8	)		$	2,551.5			$	(270.5	)		$	4,695.7			$	(292.3	)
December 31, 2024
U.S. Treasury bonds		$	81.8			$	(1.8	)		$	52.9			$	(3.4	)		$	134.7			$	(5.2	)
Municipal bonds			248.3				(4.4	)			417.0				(69.3	)			665.3				(73.7	)
Foreign government bonds			29.8				(0.2	)			72.7				(6.9	)			102.5				(7.1	)
Governmental agency bonds			144.4				(5.3	)			37.9				(8.7	)			182.3				(14.0	)
Governmental agency mortgage-backed    securities			2,977.2				(98.4	)			1,290.4				(245.4	)			4,267.6				(343.8	)
U.S. corporate debt securities			435.2				(9.6	)			117.5				(18.8	)			552.7				(28.4	)
Foreign corporate debt securities			159.4				(3.2	)			110.5				(9.2	)			269.9				(12.4	)
		$	4,076.1			$	(122.9	)		$	2,098.9			$	(361.7	)		$	6,175.0			$	(484.6	)

Investments in Debt Securities by Contractual Maturity

Investments in debt securities at September 30, 2025, by contractual maturities, are as follows:

(in millions)		Due in one year or less				Due after one through five years				Due after five through ten years				Due after ten years				Total
U.S. Treasury bonds
Amortized cost		$	48.8			$	159.4			$	17.0			$	24.2			$	249.4
Estimated fair value		$	48.4			$	159.3			$	17.1			$	24.1			$	248.9
Municipal bonds
Amortized cost			7.9				105.3				375.9				472.1				961.2
Estimated fair value			7.9				103.9				349.3				449.2				910.3
Foreign government bonds
Amortized cost			24.8				148.7				49.4				3.6				226.5
Estimated fair value			24.8				147.9				48.0				2.9				223.6
Governmental agency bonds
Amortized cost			0.6				0.8				207.6				34.0				243.0
Estimated fair value			0.6				0.8				206.5				27.8				235.7
U.S. corporate debt securities
Amortized cost			11.6				544.1				393.6				99.5				1,048.8
Estimated fair value			11.5				548.7				398.7				91.3				1,050.2
Foreign corporate debt securities
Amortized cost			21.0				326.9				103.5				32.3				483.7
Estimated fair value			21.0				331.4				105.9				30.6				488.9
Total debt securities (excluding mortgage-backed    securities)
Amortized cost		$	114.7			$	1,285.2			$	1,147.0			$	665.7			$	3,212.6
Estimated fair value		$	114.2			$	1,292.0			$	1,125.5			$	625.9			$	3,157.6
Total mortgage-backed securities
Amortized cost																			5,257.2
Estimated fair value																			5,090.6
Total debt securities
Amortized cost																		$	8,469.8
Estimated fair value																		$	8,248.2

Composition of Debt Securities Portfolio by Credit Rating Agencies

The composition of the debt securities portfolio at September 30, 2025, by credit rating, is as follows:

		A- or higher								BBB+ to BBB-								Non-Investment Grade								Total
(dollars in millions)		Estimated fair value				Percentage				Estimated fair value				Percentage				Estimated fair value				Percentage				Estimated fair value
U.S. Treasury bonds		$	248.9				100.0	%		$	—				—	%		$	—				—	%		$	248.9
Municipal bonds			889.3				97.7				20.6				2.3				0.4				—				910.3
Foreign government bonds			216.8				96.9				6.0				2.7				0.8				0.4				223.6
Governmental agency bonds			235.7				100.0				—				—				—				—				235.7
Governmental agency mortgage-    backed securities			5,090.6				100.0				—				—				—				—				5,090.6
U.S. corporate debt securities			579.7				55.2				315.2				30.0				155.3				14.8				1,050.2
Foreign corporate debt securities			279.5				57.1				183.6				37.6				25.8				5.3				488.9
		$	7,540.5				91.4	%		$	525.4				6.4	%		$	182.3				2.2	%		$	8,248.2

Composition of Debt Securities Portfolio in Unrealized Loss Position by Credit Rating Agencies

The composition of the debt securities portfolio in an unrealized loss position at September 30, 2025, by credit rating, is as follows:

		A- or higher								BBB+ to BBB-								Non-Investment Grade								Total
(dollars in millions)		Estimated fair value				Percentage				Estimated fair value				Percentage				Estimated fair value				Percentage				Estimated fair value
U.S. Treasury bonds		$	115.4				100.0	%		$	—				—	%		$	—				—	%		$	115.4
Municipal bonds			551.2				97.3				14.9				2.6				0.3				0.1				566.4
Foreign government bonds			70.1				97.5				1.3				1.8				0.5				0.7				71.9
Governmental agency bonds			174.1				100.0				—				—				—				—				174.1
Governmental agency mortgage-    backed securities			3,399.5				100.0				—				—				—				—				3,399.5
U.S. corporate debt securities			144.2				57.2				70.7				28.0				37.3				14.8				252.2
Foreign corporate debt securities			68.1				58.6				41.5				35.7				6.6				5.7				116.2
		$	4,522.6				96.3	%		$	128.4				2.7	%		$	44.7				1.0	%		$	4,695.7

X

- Definition

Tabular disclosure of the fair value of debt securities portfolio and in an unrealized loss position by credit quality indicator. The credit quality indicator is a statistic about the credit quality of investments. Examples include, but not limited to, credit-rating-agency ratings, an entity's internal credit risk grades, collateral, collection experience and other internal metrics.

+ References

No definition available.

+ Details

Name:	faf_DebtSecuritiesPortfolioContinuousUnrealizedLossPositionCreditQualityIndicatorsTableTextBlock
Namespace Prefix:	faf_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the fair value of debt securities by credit quality indicator. The credit quality indicator is a statistic about the credit quality of investments. Examples include, but not limited to, credit-rating-agency ratings, an entity's internal credit risk grades, collateral, collection experience and other internal metrics.

+ References

No definition available.

+ Details

Name:	faf_DebtSecuritiesPortfolioCreditQualityIndicatorsTableTextBlock
Namespace Prefix:	faf_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 55
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479081/326-30-55-8

Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-6

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479106/326-30-50-4

+ Details

Name:	us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionFairValueTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments.

+ References

No definition available.

+ Details

Name:	us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfAvailableForSaleSecuritiesReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration