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• | Total revenue of approximately $2.1 billion in the second quarter versus $2.1 billion in the second quarter of 2018 |
• | Second quarter net earnings of $266 million and adjusted net earnings of $255 million versus net earnings of $251 million and adjusted net earnings of $239 million for the second quarter of 2018 |
• | Second quarter diluted EPS of $0.96 and adjusted diluted EPS of $0.92 versus diluted EPS of $0.90 and adjusted diluted EPS of $0.86 in the second quarter of 2018 |
• | Realized gains were $41 million in the second quarter versus realized losses of $16 million in the second quarter of 2018, primarily due to the adoption of a new accounting standard in 2018 that requires mark to market accounting treatment of equity and preferred stock securities and recognition of the related changes in fair value in realized gains and losses, whether the securities were disposed of in the quarter or continue to be held in our investment portfolio |
• | Total revenue of approximately $2.1 billion versus approximately $2.0 billion in total revenue in the second quarter of 2018 |
• | Pre-tax earnings of $387 million and adjusted pre-tax earnings of $363 million versus pre-tax earnings of $300 million and adjusted pre-tax earnings of $337 million in the second quarter of 2018 |
• | Pre-tax title margin of 18.5% and adjusted pre-tax title margin of 17.7% versus pre-tax title margin of 15.3% and adjusted pre-tax title margin of 17.1% in the second quarter of 2018 |
• | Second quarter purchase orders opened decreased 2% on a daily basis and purchase orders closed decreased 6% on a daily basis versus the second quarter of 2018 |
• | Total commercial revenue of $286 million, a 2% increase versus total commercial revenue in the second quarter of 2018, driven by a 5% increase in total commercial fee per file somewhat offset by a 3% decrease in closed orders; second quarter total commercial orders opened increased 8% compared to the prior year |
• | Overall second quarter average fee per file of $2,677, a 4% increase versus the second quarter of 2018 |
Direct Orders Opened * | Direct Orders Closed * | |||||||
Month | / (% Purchase) | / (% Purchase) | ||||||
April 2019 | 184,000 | 63% | 114,000 | 65% | ||||
May 2019 | 179,000 | 63% | 127,000 | 64% | ||||
June 2019 | 181,000 | 57% | 118,000 | 65% | ||||
Second Quarter 2019 | 544,000 | 61% | 359,000 | 65% | ||||
Direct Orders Opened * | Direct Orders Closed * | |||||||
Month | / (% Purchase) | / (% Purchase) | ||||||
April 2018 | 167,000 | 70% | 114,000 | 69% | ||||
May 2018 | 175,000 | 72% | 124,000 | 71% | ||||
June 2018 | 163,000 | 71% | 124,000 | 73% | ||||
Second Quarter 2018 | 505,000 | 71% | 362,000 | 71% | ||||
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Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Fidelity National Financial, Inc..
Fidelity National Financial, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:
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On July 17, 2018, our Board of Directors approved a new three-year stock repurchase program effective August 1, 2018 (the "2018 Repurchase Program") under which we may purchase up to 25 million shares of our FNF common stock through July 31, 2021.
The increase in cash provided by operating activities of $22 million is primarily attributable to the increase in pre-tax earnings and timing of receipt and payment of prepaid assets, receivables and payables, partially offset by increased payments for income taxes.
The increase in cash provided by investing activities of $66 million in the 2019 period compared to the 2018 period is primarily attributable to a $90 million increase in net cash inflow from sales of investments and distributions of and from equity and fixed income investments, net of purchases of investments and additional investments in unconsolidated investees, partially offset by the inclusion of $21 million of proceeds from the sale of property in the 2018 period.
After accounting for the decrease in the first half of 2019, the MBA expects mortgage interest rates to remain flat in 2019.
Such a requirement could be the result of investment losses, reserve charges, adverse operating conditions in the current economic environment or changes in statutory accounting requirements by regulators.
The increase was primarily driven...Read more
Personnel costs in the Corporate...Read more
The decrease in the six-month...Read more
The MBA predicts overall mortgage...Read more
26 26 The following table...Read more
Total revenues in the Corporate...Read more
The increase in income tax...Read more
The increase was directionally consistent...Read more
The decrease is primarily attributable...Read more
The increase is comprised of...Read more
We continually monitor mortgage origination...Read more
Net earnings increased by $16...Read more
Title premiums increased by less...Read more
The decrease in the six-month...Read more
Our insurance subsidiaries generate cash...Read more
The increase in the six...Read more
Further, depending on business and...Read more
In recent years, we have...Read more
Coupled with stagnant levels of...Read more
The Provision for title claim...Read more
The second and third calendar...Read more
The decrease is primarily attributable...Read more
Other economic indicators used to...Read more
27 27 Title premiums from...Read more
The following table presents the...Read more
Declines in the level of...Read more
Total revenues increased by $21...Read more
The increase in average fee...Read more
The following table illustrates the...Read more
Critical Accounting Policies Other than...Read more
Cash flow from our operations...Read more
We believe that all anticipated...Read more
Title The following table presents...Read more
Personnel costs include base salaries,...Read more
Personnel costs include base salaries,...Read more
Because commercial real estate transactions...Read more
We believe continued strong readings...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-Q Quarterly Report
Material Contracts, Statements, Certifications & more
Fidelity National Financial, Inc. provided additional information to their SEC Filing as exhibits
Ticker: FNF
CIK: 1331875
Form Type: 10-Q Quarterly Report
Accession Number: 0001331875-19-000034
Submitted to the SEC: Tue Jul 23 2019 12:09:57 PM EST
Accepted by the SEC: Tue Jul 23 2019
Period: Sunday, June 30, 2019
Industry: Title Insurance