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Fidelity National Financial, Inc. (FNF) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2015

Fidelity National Financial, Inc.

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CIK: 1331875 Ticker: FNF


FNF Group Reports Fourth Quarter 2015 Adjusted EPS of $0.55, Adjusted Pre-Tax Title Margin of 13.8%, BKFS Revenue Growth of 8% and BKFS Adjusted EBITDA Margin of 44.9%
  
Jacksonville, Fla. - (February 10, 2016) - Fidelity National Financial, Inc. today reported the operating results of FNF Group (NYSE:FNF), a leading provider of title insurance, technology and transaction services to the real estate and mortgage industries, for the three and twelve-month periods ended December 31, 2015.

•
Total revenue of approximately $1.9 billion in the fourth quarter versus $1.7 billion in the fourth quarter of 2014
•
Adjusted fourth quarter net earnings of $155 million versus adjusted net earnings of $144 million for the fourth quarter of 2014
•
Adjusted fourth quarter diluted EPS of $0.55 versus adjusted diluted EPS of $0.50 in the fourth quarter of 2014
•
Fourth quarter free cash flow provided of $184 million versus $167 million provided in the fourth quarter of 2014
•
Repurchased 2.4 million shares of FNF common stock for approximately $85 million in the fourth quarter; for the full-year 2015, repurchased 5.9 million shares for approximately $214 million

Title
•
Approximately $1.6 billion in total revenue, adjusted pre-tax earnings of $225 million and adjusted pre-tax title margin of 13.8% for the fourth quarter versus approximately $1.5 billion in total revenue, adjusted pre-tax earnings of $217 million and an adjusted pre-tax title margin of 14.8% in the fourth quarter of 2014
•
Adjusted pre-tax title margin of 13.8% was a 100 basis point decline from the fourth quarter 2014 adjusted pre-tax title margin of 14.8%
•
ServiceLink generated $198 million in revenue, adjusted EBITDA of $25 million, an adjusted EBITDA margin of 13%, adjusted pre-tax earnings of $21 million and an adjusted pre-tax margin of 11% for the fourth quarter
•
Open orders per day of 7,000 for the fourth quarter versus 7,175 open orders per day for the fourth quarter of 2014
•
Closed orders per day of 5,413 for the fourth quarter versus 5,302 closed orders per day for the fourth quarter of 2014
•
Fourth quarter purchase orders opened and closed increased by 6% and 9%, respectively, versus the fourth quarter of 2014; for FNTG only (excluding ServiceLink), purchase orders opened and closed both increased by 9% versus the fourth quarter of 2014
•
Total commercial revenue of $303 million, a 11% increase over total commercial revenue in the fourth quarter of 2014; fourth quarter national commercial title revenue of $183 million, a 10% increase from the fourth quarter of 2014, driven by a 4% improvement in the commercial fee per file and a 6% increase in closed orders; open national commercial orders were essentially flat with the prior year
•
Overall fourth quarter average fee per file of $2,272, a 7% increase versus the fourth quarter of 2014
•
Title claims paid of $84 million, an increase of $8 million, or 11%, from the fourth quarter of 2014

Title Orders
 
 
 
Direct Orders Opened *
 
 
Direct Orders Closed *
Month
 
 / (% Purchase)
 
 / (% Purchase)
October 2015
 
 
167,000
55%
 
 
120,000
58%
November 2015
 
 
140,000
56%
 
 
102,000
57%
December 2015
 
 
134,000
54%
 
 
119,000
59%
 
 
 
 
 
 
 
Fourth Quarter 2015
 
 
441,000
55%
 
 
341,000
58%
 
 
 
 
 
 
 


1
The following information was filed by Fidelity National Financial, Inc. (FNF) on Wednesday, February 10, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Schedule Ii Fidelity National Financial, Inc. (parent Company) - Balance Sheet (details)
Schedule Ii Fidelity National Financial, Inc. (parent Company) - Notes To Financial Statements (details)
Schedule Ii Fidelity National Financial, Inc. (parent Company) - Statement Of Cash Flows (details)
Schedule Ii Fidelity National Financial, Inc. (parent Company) - Statement Of Earnings And Retained Earnings (details)
Schedule Ii Fidelity National Financial, Inc. (parent Company) Schedule Ii Fidelity National Financial, Inc. (parent Company)
Schedule V Fidelity National Financial, Inc. And Subsidiaries Valuation And Qualifying Accounts
Schedule V Fidelity National Financial, Inc. And Subsidiaries Valuation And Qualifying Accounts (details)
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statement Of Equity
Consolidated Statements Of Cash Flows
Consolidated Statements Of Cash Flows (parenthetical)
Consolidated Statements Of Comprehensive Earnings
Consolidated Statements Of Earnings
Accounts Payable And Accrued Liabilities
Accounts Payable And Accrued Liabilities (details)
Accounts Payable And Accrued Liabilities (tables)
Acquisitions
Acquisitions - Pro Forma (details)
Acquisitions - Purchase Price (details)
Acquisitions - Purchase Price Allocation (details)
Acquisitions - Textual (details)
Acquisitions (tables)
Capitalized Software
Capitalized Software (details)
Capitalized Software (tables)
Commitments And Contingencies
Commitments And Contingencies (tables)
Commitments And Contingencies - Additional Information (details)
Commitments And Contingencies - Future Operating Lease Payments (details)
Commitments And Contingencies - Purchase Obligations (details)
Employee Benefit Plans
Employee Benefit Plans (tables)
Employee Benefit Plans - 401(k) Profit Sharing Plan (details)
Employee Benefit Plans - Options Outstanding And Exercisable By Exercise Price (details)
Employee Benefit Plans - Pension, Postretirement, And Other Nonqualified Employee Benefit Plans (details)
Employee Benefit Plans - Profits Interests Plan (details)
Employee Benefit Plans - Restricted Stock Activity (details)
Employee Benefit Plans - Stock Option Activity (details)
Employee Benefit Plans - Stock Option Plans (details)
Employee Benefit Plans - Stock Purchase Plan (details)
Fair Value Measurements
Fair Value Measurements (tables)
Fair Value Measurements - Fair Value On A Recurring Basis (details)
Fair Value Measurements - Textual (details)
Fair Value Measurements - Unobservable Inputs Rollforward (details)
Financial Instruments With Off-balance Sheet Risk And Concentration Of Risk
Financial Instruments With Off-balance Sheet Risk And Concentration Risk (details)
Financial Instruments With Off-balance Sheet Risk And Concentration Risk (tables)
Goodwill
Goodwill (details)
Goodwill (tables)
Income Taxes
Income Taxes (tables)
Income Taxes - Additional Information (details)
Income Taxes - Deferred Tax Asset And Liabilities (details)
Income Taxes - Effective Tax Rate Reconciliation (details)
Income Taxes - Tax Expense (benefit) Allocation (details)
Income Taxes - Tax Expense On Continuing Operations (details)
Investments
Investments (tables)
Investments - Available For Sale Securities (details)
Investments - Interest And Investment Income (details)
Investments - Investments In Unconsolidated Affiliates (details)
Investments - Maturity Of Fixed Maturity Securities (details)
Investments - Realized Gains And Losses And Proceeds On Investments And Other Assets (details)
Investments - Schedule Of Equity Method Investments - Balance Sheet (details)
Investments - Schedule Of Equity Method Investments - Income Statement (details) (details)
Investments - Securities In A Continuous Unrealized Loss Position (details)
Investments - Textuals (details)
Net Income Attributable To Fnf Group Shareholders And Change In Total Equity
Net Income Attributable To Fnf Group Shareholders And Change In Total Equity (details)
Net Income Attributable To Fnf Group Shareholders And Change In Total Equity (tables)
Notes Payable
Notes Payable (tables)
Notes Payable - 4.25% Notes (details)
Notes Payable - 6.60% Notes (details)
Notes Payable - Abrh (details)
Notes Payable - Black Knight Credit Agreement (details)
Notes Payable - Digital Insurance (details)
Notes Payable - Fnf 5.50% Notes (details)
Notes Payable - Fnf 5.75% Notes (details)
Notes Payable - Fnf Revolving Credit Facility (details)
Notes Payable - Fnf Term Loan (details)
Notes Payable - Long Term Debt Narrative (details)
Notes Payable - Maturities Of Long Term Debt (details)
Notes Payable - Schedule Of Long Term Debt (details)
Notes Payable Notes Payable - Bridge Loan Commitment (details)
Other Intangible Assets
Other Intangible Assets (details)
Other Intangible Assets (tables)
Property And Equipment
Property And Equipment (details)
Property And Equipment (tables)
Recent Accounting Pronouncements
Recent Accounting Pronouncements Recent Accounting Pronouncements (details)
Regulation And Equity
Regulation And Equity - Equity (details)
Regulation And Equity - Regulation (details)
Segment Information
Segment Information (details)
Segment Information (tables)
Summary Of Reserve For Claim Loss
Summary Of Reserve For Claim Loss (details)
Summary Of Reserve For Claim Loss (tables)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (table)
Summary Of Significant Accounting Policies - Capitalized Software (details)
Summary Of Significant Accounting Policies - Description Of Business (details)
Summary Of Significant Accounting Policies - Discontinued Operations (details)
Summary Of Significant Accounting Policies - Earnings Per Share (details)
Summary Of Significant Accounting Policies - Goodwill (details)
Summary Of Significant Accounting Policies - Other Intangible Assets (details)
Summary Of Significant Accounting Policies - Property And Equipment (details)
Summary Of Significant Accounting Policies - Recent Developments (details)
Summary Of Significant Accounting Policies - Redeemable Non-controlling Interest (details)
Summary Of Significant Accounting Policies - Revenue Recognition (details)
Summary Of Significant Accounting Policies - Schedule Of Other Comprehensive Earnings (details)
Summary Of Significant Accounting Policies - Secured Trust Deposits (details)
Summary Of Significant Accounting Policies - Transactions With Related Parties (details)
Supplementary Cash Flow Information
Supplementary Cash Flow Information (details)
Supplementary Cash Flow Information (tables)
Ticker: FNF
CIK: 1331875
Form Type: 10-K Annual Report
Accession Number: 0001331875-16-000111
Submitted to the SEC: Tue Feb 23 2016 4:04:25 PM EST
Accepted by the SEC: Tue Feb 23 2016
Period: Thursday, December 31, 2015
Industry: Title Insurance

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