First American Financial (FAF) quarterly income statement covering the six quarters from March 2022 to June 2023, as reported to the SEC.
An income statement shows what a company sold and what it cost to run the business, ending with the profit left over.
| Jun'23 | Mar'23 | Dec'22 | Sep'22 | Jun'22 | Mar'22 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenues | |||||||||||||||||||||
Direct premiums and escrow fees | |||||||||||||||||||||
615,300 | 502,200 | 656,300 | 758,000 | 896,500 | 774,200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Direct premiums and escrow fees | 615,300 | 502,200 | 656,300 | 758,000 | 896,500 | 774,200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Agent premiums | |||||||||||||||||||||
624,700 | 590,400 | 753,000 | 910,000 | 937,200 | 947,800 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Agent premiums | 624,700 | 590,400 | 753,000 | 910,000 | 937,200 | 947,800 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Information and other | |||||||||||||||||||||
250,300 | 226,900 | 247,800 | 282,000 | 310,100 | 308,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Information and other | 250,300 | 226,900 | 247,800 | 282,000 | 310,100 | 308,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net investment income | |||||||||||||||||||||
150,300 | 134,000 | 141,400 | 100,000 | 52,400 | 46,200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net investment income | 150,300 | 134,000 | 141,400 | 100,000 | 52,400 | 46,200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net investment gains (losses) (realized of $(2.8), $44.3, $(7.3), $43.6) | |||||||||||||||||||||
6,300 | - | - | - | -133,700 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net investment gains (losses) (realized of $(2.8), $44.3, $(7.3), $43.6) | 6,300 | - | - | - | -133,700 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Operating revenues | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Operating revenues | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net other-than-temporary impairment ( OTTI ) losses recognized in earnings: | |||||||||||||||||||||
Net investment losses (realized of $(4.5) and $50.3) | |||||||||||||||||||||
- | -7,400 | - | -226,000 | - | -42,600 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net investment losses (realized of $(4.5) and $50.3) | - | -7,400 | - | -226,000 | - | -42,600 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net other-than-temporary impairment losses | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net other-than-temporary impairment losses | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total OTTI losses on equity securities | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total OTTI losses on equity securities | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total OTTI losses on debt securities | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total OTTI losses on debt securities | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Portion of OTTI losses on debt securities recognized in other comprehensive loss | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Portion of OTTI losses on debt securities recognized in other comprehensive loss | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total revenues | |||||||||||||||||||||
1,646,900 | 1,446,100 | 1,684,800 | 1,824,000 | 2,062,500 | 2,033,700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total revenues | 1,646,900 | 1,446,100 | 1,684,800 | 1,824,000 | 2,062,500 | 2,033,700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Expenses | |||||||||||||||||||||
Personnel costs | |||||||||||||||||||||
514,500 | 487,600 | 550,000 | 570,000 | 618,300 | 601,700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Personnel costs | 514,500 | 487,600 | 550,000 | 570,000 | 618,300 | 601,700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Premiums retained by agents | |||||||||||||||||||||
496,400 | 469,000 | 599,000 | 725,000 | 748,200 | 757,800 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Premiums retained by agents | 496,400 | 469,000 | 599,000 | 725,000 | 748,200 | 757,800 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other operating expenses | |||||||||||||||||||||
272,500 | 258,500 | 279,300 | 312,000 | 343,300 | 337,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other operating expenses | 272,500 | 258,500 | 279,300 | 312,000 | 343,300 | 337,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Provision for policy losses and other claims | |||||||||||||||||||||
89,500 | 82,300 | 106,100 | 131,000 | 126,500 | 122,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Provision for policy losses and other claims | 89,500 | 82,300 | 106,100 | 131,000 | 126,500 | 122,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Depreciation and amortization | |||||||||||||||||||||
46,100 | 45,500 | 43,400 | 41,000 | 41,600 | 41,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Depreciation and amortization | 46,100 | 45,500 | 43,400 | 41,000 | 41,600 | 41,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Impairment losses on exit of business | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Impairment losses on exit of business | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Premium taxes | |||||||||||||||||||||
15,500 | 14,500 | 19,600 | 24,000 | 23,500 | 23,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Premium taxes | 15,500 | 14,500 | 19,600 | 24,000 | 23,500 | 23,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Interest | |||||||||||||||||||||
34,300 | 29,100 | 29,600 | 24,000 | 19,700 | 19,700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Interest | 34,300 | 29,100 | 29,600 | 24,000 | 19,700 | 19,700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total expenses | |||||||||||||||||||||
1,468,800 | 1,386,500 | 1,627,000 | 1,827,000 | 1,921,100 | 1,903,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total expenses | 1,468,800 | 1,386,500 | 1,627,000 | 1,827,000 | 1,921,100 | 1,903,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Income before income taxes | |||||||||||||||||||||
178,100 | 59,600 | 57,800 | -3,000 | 141,400 | 129,800 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Income before income taxes | 178,100 | 59,600 | 57,800 | -3,000 | 141,400 | 129,800 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Income taxes | |||||||||||||||||||||
41,700 | 13,600 | 4,100 | -6,000 | 31,200 | 31,700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Income taxes | 41,700 | 13,600 | 4,100 | -6,000 | 31,200 | 31,700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net income | |||||||||||||||||||||
136,400 | 46,000 | 53,700 | 3,000 | 110,200 | 98,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net income | 136,400 | 46,000 | 53,700 | 3,000 | 110,200 | 98,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Less: Net income attributable to noncontrolling interests | |||||||||||||||||||||
-2,100 | 100 | -600 | 1,000 | 1,400 | 200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Less: Net income attributable to noncontrolling interests | -2,100 | 100 | -600 | 1,000 | 1,400 | 200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net income attributable to the Company | |||||||||||||||||||||
138,500 | 45,900 | 54,300 | 2,000 | 108,800 | 97,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net income attributable to the Company | 138,500 | 45,900 | 54,300 | 2,000 | 108,800 | 97,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net income per share attributable to the Company's stockholders (Note 11): | |||||||||||||||||||||
Basic | |||||||||||||||||||||
1.33 | 0.44 | 0.54 | 0.02 | 1.01 | 0.89 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Basic | 1.33 | 0.44 | 0.54 | 0.02 | 1.01 | 0.89 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Diluted | |||||||||||||||||||||
1.33 | 0.44 | 0.54 | 0.02 | 1.01 | 0.88 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Diluted | 1.33 | 0.44 | 0.54 | 0.02 | 1.01 | 0.88 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash dividends per share | |||||||||||||||||||||
0.52 | 0.52 | 0.52 | 0.52 | 0.51 | 0.51 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Cash dividends per share | 0.52 | 0.52 | 0.52 | 0.52 | 0.51 | 0.51 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Weighted-average common shares outstanding (Note 11): | |||||||||||||||||||||
Basic | |||||||||||||||||||||
104,300 | 104,500 | 104,400 | 105,300 | 107,900 | 110,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Basic | 104,300 | 104,500 | 104,400 | 105,300 | 107,900 | 110,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Diluted | |||||||||||||||||||||
104,500 | 104,800 | 104,800 | 105,500 | 108,100 | 110,800 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Diluted | 104,500 | 104,800 | 104,800 | 105,500 | 108,100 | 110,800 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||