Fidelity National Financial Inc
For the period ended Dec 31, 2023. Filed Feb 29, 2024.
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FY2023 · Filed Feb 29, 2024
FNF$44.17-1.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets as of December 31, 202 and
(Dollars in millions, except share data)
| December 31,2023 | December 31,2022 | |
|---|---|---|
| ASSETS | ||
| Investments: | ||
| Fixed maturity securities available for sale, at fair value, at December 31, 2023 and December 31, 2022, at an amortized cost of $45,606 and $37,708, respectively, net of allowance for credit losses of $42 and $39, respectively, and includes pledged fixed maturity securities of $489 and $448, respectively, related to secured trust deposits | $42,373 | $33,095 |
| Preferred securities, at fair value | 621 | 903 |
| Equity securities, at fair value | 766 | 678 |
| Derivative investments | 797 | 244 |
| Mortgage loans, net of allowance for credit losses of $66 and $42 at December 31, 2023 and 2022, respectively. | 5,336 | 4,554 |
| Investments in unconsolidated affiliates | 3,334 | 2,642 |
| Other long-term investments | 703 | 664 |
| Short-term investments, at December 31, 2023 and December 31, 2022 includes pledged short-term investments of $1 and $6, respectively, related to secured trust deposits | 2,119 | 2,590 |
| Total investments | 56,049 | 45,370 |
| Cash and cash equivalents, at December 31, 2023 and 2022 includes $262 and $242, respectively, of pledged cash related to secured trust deposits | 2,767 | 2,286 |
| Trade and notes receivables, net of allowance of $32 and $33 at December 31, 2023 and 2022, respectively | 442 | 467 |
| Reinsurance recoverable, net of allowance for credit losses of $21 and $10 at December 31, 2023 and 2022, respectively | 8,977 | 5,418 |
| Goodwill | 4,830 | 4,635 |
| Prepaid expenses and other assets | 1,900 | 2,068 |
| Market risk benefits assets | 88 | 117 |
| Lease assets | 348 | 376 |
| Other intangible assets, net | 4,627 | 3,811 |
| Title plants | 418 | 416 |
| Property and equipment, net | 168 | 179 |
| Total assets | $80,614 | $65,143 |
| LIABILITIES AND EQUITY | ||
| Liabilities: | ||
| Contractholder funds | $48,798 | $40,843 |
| Future policy benefits | 7,050 | 5,021 |
| Accounts payable and accrued liabilities | 3,009 | 2,326 |
| Market risk benefits liability | 403 | 282 |
| Notes payable | 3,887 | 3,238 |
| Reserve for title claim losses | 1,770 | 1,810 |
| Funds withheld for reinsurance liabilities | 7,083 | 3,703 |
| Secured trust deposits | 731 | 862 |
| Lease liabilities | 394 | 418 |
| Income taxes payable | — | — |
| Deferred tax liability | 29 | 71 |
| Total liabilities | 73,154 | 58,574 |
| Equity: | ||
| FNF common stock, $0.0001 par value; authorized 600,000,000 shares as of December 31, 2023 and 2022, respectively; outstanding of 273,251,449 and 272,309,890 as of December 31, 2023 and 2022, respectively, and issued of 329,185,916 and 327,757,349 as of December 31, 2023 and 2022, respectively | — | — |
| Preferred stock, $0.0001 par value; authorized 50,000,000 shares; issued and outstanding, none | — | — |
| Additional paid-in capital | 5,913 | 5,870 |
| Retained earnings | 5,244 | 5,225 |
| Accumulated other comprehensive earnings | (2,119) | (2,870) |
| Less: Treasury stock, 55,934,467 shares and 55,447,459 shares as of December 31, 2023 and 2022, respectively, at cost | (2,130) | (2,109) |
| Total Fidelity National Financial, Inc. shareholders’ equity | 6,908 | 6,116 |
| Non-controlling interests | 552 | 453 |
| Total equity | 7,460 | 6,569 |
| Total liabilities and equity | $80,614 | $65,143 |
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