Fidelity National Financial, Inc.
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
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FY2025 · Filed Feb 26, 2026
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
| December 31,2025 | December 31,2024 | |
|---|---|---|
| ASSETS | ||
| Investments: | ||
| Fixed maturity securities available for sale, at fair value, as of December 31, 2025 and 2024, at an amortized cost of $57,161 and $51,681, respectively, net of allowance for credit losses of $112 and $67, respectively, and includes pledged fixed maturity securities of $446 and $495, respectively, related to secured trust deposits | $54,561 | $48,218 |
| Preferred securities, at fair value | 436 | 443 |
| Equity securities, at fair value | 493 | 642 |
| Derivative investments | 1,156 | 794 |
| Mortgage loans, net of allowance for credit losses of $86 and $70 as of December 31, 2025 and 2024, respectively | 7,891 | 5,926 |
| Investments in unconsolidated affiliates (2025 includes $262 related to investments held by consolidated variable interest entities (“VIEs”) and 2025 and 2024 include certain investments at fair value of $270 and $272, respectively) | 5,166 | 3,731 |
| Other long-term investments (2025 includes $248 related to investments held by consolidated VIEs) | 1,572 | 811 |
| Short-term investments (2025 includes $116 related to investments held by consolidated VIEs) | 1,920 | 3,050 |
| Total investments | 73,195 | 63,615 |
| Cash and cash equivalents, as of December 31, 2025 and 2024 includes $261 and $69, respectively, of pledged cash related to secured trust deposits | 2,636 | 3,479 |
| Trade and notes receivables, net of allowance of $31 and $32 as of December 31, 2025 and 2024, respectively | 473 | 471 |
| Reinsurance recoverable, net of allowance for credit losses of $18 and $20 at December 31, 2025 and 2024, respectively | 17,551 | 13,380 |
| Goodwill | 5,272 | 5,271 |
| Prepaid expenses and other assets | 2,012 | 1,938 |
| Market risk benefits assets | 285 | 189 |
| Lease assets | 336 | 351 |
| Other intangible assets, net | 6,641 | 5,976 |
| Title plants | 424 | 420 |
| Property and equipment, net | 189 | 173 |
| Total assets | $109,014 | $95,263 |
| LIABILITIES AND EQUITY | ||
| Liabilities: | ||
| Contractholder funds | $62,726 | $56,404 |
| Future policy benefits | 10,755 | 8,749 |
| Accounts payable and accrued liabilities | 3,828 | 3,249 |
| Market risk benefits liability | 903 | 549 |
| Notes payable | 4,400 | 4,321 |
| Reserve for title claim losses | 1,700 | 1,713 |
| Funds withheld for reinsurance liabilities | 14,191 | 10,758 |
| Secured trust deposits | 731 | 551 |
| Lease liabilities | 368 | 385 |
| Income taxes payable | 1 | 52 |
| Deferred tax liability | 439 | — |
| Total liabilities | 100,042 | 86,731 |
| Equity: | ||
| FNF common stock, $0.0001 par value; authorized 600 shares as of December 31, 2025 and 2024, respectively; outstanding of 271 and 275 as of December 31, 2025 and 2024, respectively, and issued of 332 and 331 as of December 31, 2025 and 2024, respectively | — | — |
| Preferred stock, $0.0001 par value; authorized 50 shares; issued and outstanding, none | — | — |
| Additional paid-in capital | 6,042 | 5,976 |
| Retained earnings | 5,484 | 5,982 |
| Accumulated other comprehensive earnings | (1,678) | (2,052) |
| Less: Treasury stock, 61 and 56 shares as of December 31, 2025 and 2024, at cost | (2,424) | (2,152) |
| Total Fidelity National Financial, Inc. shareholders’ equity | 7,424 | 7,754 |
| Non-controlling interests | 1,548 | 778 |
| Total equity | 8,972 | 8,532 |
| Total liabilities and equity | $109,014 | $95,263 |
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