Financials › Title Insurance
FNF Stock Price Correlated With Fidelity National Financial Financials
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Income Statement
Cash Flow
Balance Sheet
FNF Income Statement
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Revenue, Net:
Cost of Goods & Services Sold:
Gross Profit:
Selling, General & Admin Expense:
Research & Development Expense:
Total Operating Expenses:
Operating Income:
Income Taxes:
Net Income:
FNF Cash Flow
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Operating Activities Net Income:
Depreciation, Depletion & Amortization:
Change in Accounts Receiveable:
Net Cash from Operations:
Repurchases/Buybacks Common Stock:
Issuance of Long-term Debt:
Cash Dividends Paid:
Net Cash from Financing Activities:
Property, Plant & Equipment Purchases:
Purchases of Businesses, Net of Cash:
Net Cash from Investing Activities:
Net Change in Cash & Equivalents:
FNF Balance Sheet
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Cash and Cash Equivalents:
Short-Term Investments:
Accounts Receivable, Net:
Inventories:
Total Current Assets:
Property, Plant & Equipment, Net:
Total Assets:
Accounts Payable:
Current Portion of Long-Term Debt:
Total Short-Term Liabilities:
Long Term Debt, Non-Current Portion:
Total Long-Term Liabilities:
Total Liabilities:
COMPANY PROFILE
Basis of Financial Statements
The unaudited financial information in this report includes the accounts of Fidelity National Financial, Inc. and its subsidiaries (collectively, “We,” “Us,” “Our,” or “FNF”) prepared in accordance with generally accepted accounting principles and the instructions to Form 10-Q and Article 10 of Regulation S-X. All adjustments considered necessary for a fair presentation have been included. This report should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2010 .
Certain reclassifications have been made in the 2010 Condensed Consolidated Financial Statements to conform to classifications used in 2011 . In addition, we have corrected a mathematical error within the Statement of Comprehensive Earnings for the period ending March 31, 2010, which resulted in a decrease to previously reported comprehensive earnings attributable to Fidelity National Financial, Inc. common shareholders of $9.4 million. The error had no impact on our other Condensed Consolidated Financial Statements presented.
Description of Business
We are a holding company that through our subsidiaries provides title insurance, mortgage services, specialty insurance and information services. We are the nation's largest title insurance company through our title insurance underwriters — Fidelity National Title, Chicago Title, Commonwealth Land Title, and Alamo Title — which collectively issued more title insurance policies in 2010 than any other title company in the United States. We also provide flood insurance, personal lines insurance, and home warranty insurance through our specialty insurance subsidiaries. We own a minority interest in Ceridian Corporation ("Ceridian"), a leading provider of global human resources, payroll, benefits and payment solutions. We also own a minority interest in Remy International, Inc. (“Remy”), a leading designer, manufacturer, remanufacturer, marketer and distributor of aftermarket and original equipment electrical components for automobiles, light trucks, heavy-duty trucks and other vehicles.
Transactions with Related Parties
Agreements with Fidelity National Information Services ("FIS")
A summary of the agreements that were in effect with FIS through March 31, 2011 , is as follows:
•
Technology (“IT”) and data processing services from FIS. These agreements govern IT support services provided to us by FIS, primarily consisting of infrastructure support and data center management. Subject to certain early termination provisions (including the payment of minimum monthly service and termination fees), the agreement expires on or about June 30, 2013 with an option to renew for one or two additional years.
•
Administrative corporate support and cost-sharing services to and from FIS. We have provided certain administrative corporate support services such as corporate aviation and other administrative support services to FIS.
•
Real estate management and lease agreements. Included in our revenues are amounts received related to leases or subleases of certain office space and furnishings to FIS.
A detail of net revenues and expenses between us and FIS that were included in our results of operations for the periods presented is as follows:
Three months ended March 31, 2011
Three months ended March 31, 2010
(In millions)
Rental revenue
$
—
$
0.4
Corporate services and cost-sharing (expense) revenue
(1.1
)
0.7
Data processing expense
(9.4
)
(11.6
)
Net expense
$
(10.5
)
$
(10.5
)
We believe the amounts earned by us or charged to us under each of the foregoing arrangements are fair and reasonable. The information technology infrastructure support and data center management services provided to us are priced within the range of prices that FIS offers to its unaffiliated third party customers for the same types of services. However, the amounts we earned or were charged under these arrangements were not negotiated at arm’s-length, and m
The unaudited financial information in this report includes the accounts of Fidelity National Financial, Inc. and its subsidiaries (collectively, “We,” “Us,” “Our,” or “FNF”) prepared in accordance with generally accepted accounting principles and the instructions to Form 10-Q and Article 10 of Regulation S-X. All adjustments considered necessary for a fair presentation have been included. This report should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2010 .
Certain reclassifications have been made in the 2010 Condensed Consolidated Financial Statements to conform to classifications used in 2011 . In addition, we have corrected a mathematical error within the Statement of Comprehensive Earnings for the period ending March 31, 2010, which resulted in a decrease to previously reported comprehensive earnings attributable to Fidelity National Financial, Inc. common shareholders of $9.4 million. The error had no impact on our other Condensed Consolidated Financial Statements presented.
Description of Business
We are a holding company that through our subsidiaries provides title insurance, mortgage services, specialty insurance and information services. We are the nation's largest title insurance company through our title insurance underwriters — Fidelity National Title, Chicago Title, Commonwealth Land Title, and Alamo Title — which collectively issued more title insurance policies in 2010 than any other title company in the United States. We also provide flood insurance, personal lines insurance, and home warranty insurance through our specialty insurance subsidiaries. We own a minority interest in Ceridian Corporation ("Ceridian"), a leading provider of global human resources, payroll, benefits and payment solutions. We also own a minority interest in Remy International, Inc. (“Remy”), a leading designer, manufacturer, remanufacturer, marketer and distributor of aftermarket and original equipment electrical components for automobiles, light trucks, heavy-duty trucks and other vehicles.
Transactions with Related Parties
Agreements with Fidelity National Information Services ("FIS")
A summary of the agreements that were in effect with FIS through March 31, 2011 , is as follows:
•
Technology (“IT”) and data processing services from FIS. These agreements govern IT support services provided to us by FIS, primarily consisting of infrastructure support and data center management. Subject to certain early termination provisions (including the payment of minimum monthly service and termination fees), the agreement expires on or about June 30, 2013 with an option to renew for one or two additional years.
•
Administrative corporate support and cost-sharing services to and from FIS. We have provided certain administrative corporate support services such as corporate aviation and other administrative support services to FIS.
•
Real estate management and lease agreements. Included in our revenues are amounts received related to leases or subleases of certain office space and furnishings to FIS.
A detail of net revenues and expenses between us and FIS that were included in our results of operations for the periods presented is as follows:
Three months ended March 31, 2011
Three months ended March 31, 2010
(In millions)
Rental revenue
$
—
$
0.4
Corporate services and cost-sharing (expense) revenue
(1.1
)
0.7
Data processing expense
(9.4
)
(11.6
)
Net expense
$
(10.5
)
$
(10.5
)
We believe the amounts earned by us or charged to us under each of the foregoing arrangements are fair and reasonable. The information technology infrastructure support and data center management services provided to us are priced within the range of prices that FIS offers to its unaffiliated third party customers for the same types of services. However, the amounts we earned or were charged under these arrangements were not negotiated at arm’s-length, and m
Free historical financial statements for Fidelity National Financial Inc. See how revenue, income, cash flow, and balance sheet financials have changed over 52 quarters since 2011. Compare with FNF stock chart to see long term trends.
Data imported from Fidelity National Financial Inc SEC filings. Check original filings before making any investment decision.