Fidelity national financial, inc. (FNF)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10
Cash flows from operating activities:
Net (loss) earnings

-57,000

344,000

256,000

270,000

206,000

46,000

237,000

254,000

98,000

236,000

175,000

302,000

81,000

233,000

169,000

206,000

84,000

153,000

138,000

170,000

100,000

403,000

86,000

103,000

-73,000

81,000

96,000

145,000

89,000

153,000

235,000

147,000

77,000

175,000

76,900

83,000

44,100

132,500

83,800

140,400

18,900

Adjustments to reconcile net (loss) earnings to net cash provided by (used in) operating activities:
Depreciation and amortization

43,000

46,000

44,000

44,000

44,000

44,000

46,000

45,000

47,000

58,000

109,000

110,000

112,000

116,000

113,000

102,000

100,000

104,000

102,000

104,000

100,000

120,000

121,000

103,000

132,000

50,000

55,000

52,000

52,000

-

34,000

26,000

17,000

-

18,500

19,300

20,500

-

22,300

22,500

23,000

Equity in earnings of unconsolidated affiliates

1,000

3,000

2,000

3,000

7,000

1,000

1,000

1,000

2,000

5,000

-3,000

-2,000

-2,000

-2,000

-7,000

-1,000

2,000

0

-19,000

4,000

-1,000

475,000

-7,000

-5,000

-31,000

-6,000

-14,000

-3,000

-3,000

-3,000

5,000

2,000

6,000

2,300

3,700

12,600

-8,600

5,000

900

3,600

-10,700

Loss on sales of investments and other assets and asset impairments, net

-8,000

-13,000

7,000

-4,000

0

-22,000

-1,000

-3,000

8,000

1,000

-5,000

-13,000

1,000

-12,000

-2,000

15,000

-3,000

-4,000

-18,000

9,000

0

-7,000

-7,000

-1,000

2,000

5,000

3,000

8,000

-4,000

-5,000

-4,000

3,000

3,000

-5,300

-5,500

1,900

19,900

43,800

40,100

25,800

28,600

Non-cash lease costs

37,000

37,000

37,000

36,000

37,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating lease payments

38,000

37,000

37,000

38,000

37,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Impairment of assets

-

-

-

-

-

-

-

-

-

-

-

0

2,000

-

2,000

0

3,000

-

10,000

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributions from unconsolidated affiliates, return on investment

0

0

0

2,000

3,000

2,000

1,000

2,000

1,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-7,000

-

-

-

-

-

-

-

-

-

-

-

-

-36,600

800

1,300

6,200

Gain on sale of business by FNFV Group

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-12,000

0

0

12,000

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock-based compensation cost

9,000

11,000

9,000

9,000

9,000

9,000

7,000

8,000

7,000

7,000

13,000

14,000

10,000

14,000

15,000

15,000

14,000

12,000

12,000

19,000

13,000

12,000

14,000

13,000

12,000

11,000

8,000

9,000

7,000

10,000

6,000

5,000

6,000

6,900

6,900

6,700

6,500

8,000

5,800

5,700

5,600

Change in valuation of equity and preferred securities, net

-312,000

-

-3,000

45,000

142,000

-

42,000

-14,000

-7,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Tax benefit associated with the exercise of stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

3,000

0

2,000

14,000

1,000

2,000

0

24,000

2,000

0

5,000

4,400

1,600

0

0

900

1,100

0

1,000

Changes in assets and liabilities, net of effects from acquisitions:
Net increase in pledged cash, pledged investments and secured trust deposits

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-2,000

3,000

0

0

-4,000

4,000

9,000

-7,000

0

-4,000

0

-7,000

17,000

-10,000

1,300

1,500

-800

4,000

-7,000

2,100

1,400

-7,100

Net decrease in trade receivables

-20,000

-40,000

25,000

63,000

-12,000

-7,000

-29,000

27,000

-6,000

5,000

-24,000

45,000

-15,000

-29,000

12,000

41,000

-10,000

-64,000

-8,000

47,000

18,000

-31,000

10,000

6,000

37,000

-14,000

2,000

28,000

-16,000

0

-25,000

30,000

7,000

-6,400

1,900

12,900

-24,400

11,600

6,300

17,400

-7,100

Net decrease (increase) in prepaid expenses and other assets

-23,000

-29,000

35,000

-28,000

76,000

-31,000

-5,000

5,000

14,000

10,000

-15,000

24,000

41,000

-19,000

-20,000

41,000

2,000

28,000

19,000

11,000

37,000

-33,000

-19,000

26,000

49,000

-44,000

25,000

1,000

21,000

-54,000

-8,000

4,000

9,000

15,000

-6,500

-16,300

12,800

-13,200

-14,000

-11,100

13,200

Net decrease in accounts payable, accrued liabilities, deferred revenue and other

-228,000

74,000

85,000

122,000

-106,000

54,000

9,000

125,000

-150,000

62,000

5,000

138,000

-236,000

120,000

48,000

52,000

-133,000

32,000

42,000

61,000

-137,000

63,000

64,000

5,000

-251,000

30,000

22,000

59,000

-104,000

76,000

4,000

84,000

-101,000

45,500

8,500

11,100

-131,100

51,700

24,000

49,800

-88,600

Net increase (decrease) in reserve for title claim losses

9,000

15,000

14,000

-3,000

-5,000

-3,000

4,000

2,000

-5,000

-5,000

3,000

8,000

-3,000

-115,000

12,000

-5,000

12,000

-22,000

-7,000

0

-9,000

-17,000

-21,000

-39,000

10,000

-193,000

26,000

30,000

25,000

95,000

27,000

-17,000

54,000

102,700

74,400

83,000

34,900

100,800

67,200

58,300

42,400

Net change in income taxes

-32,000

-4,000

-14,000

13,000

58,000

-61,000

35,000

-88,000

31,000

-163,000

-71,000

38,000

63,000

-8,000

-2,000

5,000

3,000

-30,000

-39,000

63,000

43,000

123,000

16,000

70,000

-11,000

-87,000

15,000

-51,000

61,000

-6,000

-22,000

-88,000

-30,000

-62,600

-28,700

-26,600

-32,100

-46,500

11,000

-111,400

-13,300

Net cash provided by (used in) operating activities

105,000

421,000

328,000

376,000

-4,000

272,000

321,000

332,000

18,000

174,000

272,000

287,000

4,000

417,000

371,000

282,000

92,000

280,000

284,000

348,000

41,000

305,000

300,000

231,000

-242,000

140,000

130,000

250,000

-36,000

243,000

184,000

238,000

-45,000

54,700

68,400

53,400

-66,500

119,400

21,200

136,000

-88,100

Cash flows from investing activities:
Proceeds from sales of investment securities

106,000

52,000

77,000

211,000

194,000

254,000

113,000

120,000

189,000

214,000

20,000

95,000

105,000

50,000

23,000

96,000

69,000

63,000

307,000

232,000

173,000

197,000

127,000

197,000

257,000

250,000

94,000

232,000

169,000

192,000

145,000

109,000

148,000

214,900

97,600

215,500

211,000

419,500

122,600

234,400

223,800

Proceeds from calls and maturities of investment securities

159,000

124,000

61,000

50,000

62,000

116,000

97,000

184,000

120,000

194,000

149,000

129,000

154,000

112,000

126,000

100,000

114,000

138,000

86,000

84,000

75,000

137,000

161,000

88,000

72,000

76,000

48,000

103,000

79,000

146,000

115,000

59,000

99,000

114,100

137,500

95,100

202,300

51,600

129,800

91,700

129,300

Proceeds from sales of property and equipment

9,000

3,000

1,000

0

0

0

0

0

21,000

2,000

2,000

0

0

-

-

-

-

-12,000

0

0

14,000

3,000

0

0

2,000

1,000

0

0

0

0

0

0

2,000

-10,900

13,100

2,100

1,700

3,500

4,100

2,600

9,900

Fundings of Cannae Holdings Inc. note receivable

0

0

100,000

0

100,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Additions to property and equipment and capitalized software

28,000

27,000

22,000

25,000

22,000

27,000

17,000

19,000

20,000

17,000

44,000

42,000

46,000

60,000

50,000

130,000

50,000

69,000

69,000

60,000

43,000

66,000

61,000

47,000

36,000

29,000

39,000

47,000

30,000

36,000

16,000

16,000

11,000

13,100

5,500

8,500

8,900

25,700

10,900

11,400

5,900

Purchases of investment securities

300,000

189,000

160,000

196,000

322,000

442,000

292,000

296,000

283,000

346,000

114,000

115,000

84,000

93,000

109,000

136,000

251,000

156,000

330,000

280,000

326,000

355,000

234,000

323,000

284,000

201,000

145,000

297,000

239,000

324,000

351,000

203,000

268,000

247,800

289,000

365,000

397,200

378,100

499,500

310,400

206,300

Cash received (expended) as collateral on loaned securities, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

400

Additions to capitalized software

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,700

800

3,300

-

3,600

2,400

300

Purchases of other long-term investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,000

1,000

1,000

20,000

14,000

18,000

19,000

20,000

16,000

14,000

31,000

36,000

-

-

-

-

-

-

-

-

-

-

-

-

Net (purchases of) proceeds from sales and maturities of short-term investment securities

382,000

322,000

239,000

102,000

-268,000

200,000

25,000

-91,000

51,000

-182,000

111,000

185,000

-140,000

-109,000

-87,000

20,000

-371,000

376,000

262,000

184,000

-137,000

161,000

4,000

-237,000

233,000

-20,000

24,000

3,000

-43,000

9,000

-10,000

12,000

1,000

700

-12,300

4,900

-71,300

53,400

-181,500

-96,900

5,600

Additional investments in unconsolidated affiliates

9,000

9,000

5,000

19,000

1,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,000

4,000

6,000

9,000

-

0

0

0

-

0

0

26,000

-

15,600

0

21,100

Distributions from unconsolidated affiliates, return of investment

2,000

9,000

10,000

10,000

17,000

13,000

18,000

23,000

19,000

28,000

32,000

24,000

20,000

64,000

31,000

19,000

25,000

178,000

21,000

154,000

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net other investing activities

-4,000

-1,000

4,000

3,000

2,000

-1,000

-2,000

3,000

1,000

2,000

1,000

3,000

1,000

9,000

4,000

-6,000

0

2,000

2,000

-2,000

9,000

7,000

0

2,000

1,000

-

-

-

-

-3,000

1,000

-1,000

0

-1,800

800

4,300

700

14,900

2,800

-200

1,100

Acquisition of T-System Holding LLC, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

5,000

2,248,000

0

-

-

-

-

0

11,000

4,000

11,000

-300

0

0

300

0

10,800

-800

400

Acquisition of Title Guaranty of Hawaii, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-2,208,000

2,248,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of BPG Holdings, LLC, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

43,000

0

0

-40,000

40,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of Compass and Prospective

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of Cascade Timberlands

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

56,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other acquisitions/disposals of businesses, net of cash acquired/disposed

-

-

-

-

-

21,000

3,000

1,000

5,000

-32,000

54,000

51,000

32,000

-48,000

157,000

73,000

31,000

13,000

23,000

21,000

11,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash (used in) provided by investing activities

-439,000

-359,000

-281,000

26,000

94,000

-312,000

-96,000

86,000

-32,000

-99,000

-221,000

175,000

224,000

101,000

-192,000

-271,000

171,000

-259,000

-316,000

-107,000

1,000

-274,000

-68,000

146,000

-2,524,000

98,000

-97,000

-38,000

-23,000

-158,000

-42,000

-68,000

-42,000

187,700

-36,400

-37,200

49,900

14,100

-107,100

290,800

128,900

Cash flows from financing activities:
Borrowings

-

-

-

-

-

-

-

-

-

9,000

17,000

709,000

50,000

32,000

13,000

69,000

18,000

8,000

18,000

1,253,000

81,000

81,000

174,000

102,000

1,407,000

12,000

25,000

1,000

303,000

45,000

399,000

85,000

150,000

0

500,000

0

0

200,000

50,000

300,300

50,000

Debt service payments

-

-

-

-

-

0

340,000

15,000

15,000

2,000

72,000

853,000

69,000

42,000

47,000

38,000

73,000

34,000

16,000

1,307,000

2,000

213,000

276,000

105,000

479,000

34,000

20,000

11,000

294,000

62,000

295,000

200,000

0

-

-

-

-

49,900

700

409,200

50,300

Purchase of additional share in consolidated subsidiaries

-

-

-

-

-

-

0

-21,000

21,000

-

5,000

15,000

32,000

-

25,000

54,000

76,000

-

43,000

33,000

2,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Additional investment in noncontrolling interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

6,000

1,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment for Debt Extinguishment or Debt Prepayment Cost

-

-

-

-

-

0

84,000

27,000

31,000

0

74,000

199,000

44,000

2,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of 35% of Black Knight Financial Services, LLC and ServiceLink, LLC to minority interest holder

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

687,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Debt issuance costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,000

7,000

3,000

-

-

-

-

-

-

-

-

-

-

-

-

Dividends paid

90,000

90,000

85,000

84,000

85,000

82,000

82,000

82,000

82,000

74,000

68,000

68,000

68,000

68,000

56,000

57,000

58,000

56,000

58,000

53,000

53,000

53,000

51,000

50,000

49,000

44,000

36,000

36,000

37,000

35,000

31,000

32,000

30,000

26,000

26,000

26,500

26,500

40,500

40,700

41,100

34,300

Subsidiary dividends paid to non-controlling interest shareholders

3,000

3,000

3,000

2,000

3,000

3,000

3,000

2,000

2,000

2,000

3,000

2,000

2,000

3,000

3,000

1,000

2,000

2,000

2,000

1,000

1,000

3,000

38,000

6,000

3,000

2,000

6,000

6,000

3,000

5,000

2,000

7,000

-2,000

1,800

1,200

500

500

5,500

600

600

700

Exercise of stock options

2,000

4,000

29,000

5,000

1,000

4,000

9,000

3,000

3,000

7,000

8,000

14,000

2,000

3,000

4,000

7,000

5,000

7,000

5,000

3,000

11,000

18,000

6,000

7,000

9,000

12,000

31,000

14,000

4,000

23,000

17,000

31,000

20,000

2,300

2,400

1,300

2,000

900

900

100

2,900

Net change in secured trust deposits

-35,000

99,000

22,000

-203,000

113,000

13,000

62,000

-72,000

5,000

93,000

-31,000

-144,000

112,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributions by Black Knight to member

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,000

0

2,000

14,000

1,000

2,000

0

24,000

2,000

0

5,000

4,400

1,600

0

0

900

1,100

0

1,000

Payment of contingent consideration for prior period acquisitions

7,000

2,000

2,000

11,000

6,000

0

3,000

6,000

4,000

1,000

4,000

5,000

6,000

0

3,000

0

1,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of treasury stock

89,000

5,000

35,000

28,000

18,000

20,000

0

0

0

-

-

-

-

25,000

50,000

105,000

96,000

124,000

122,000

61,000

191,000

2,000

0

0

0

0

0

0

34,000

16,000

19,000

3,000

0

-200

75,000

0

11,200

79,500

5,300

20,800

12,000

Net cash used in financing activities

-152,000

-216,000

-122,000

80,000

-224,000

-125,000

-123,000

-58,000

-136,000

-197,000

-260,000

-323,000

-249,000

48,000

-144,000

-125,000

-207,000

-148,000

-175,000

291,000

-161,000

-277,000

-183,000

-54,000

1,574,000

467,000

-9,000

-54,000

-64,000

-27,000

63,000

-127,000

143,000

-121,100

-21,700

-26,000

-36,200

26,400

4,700

-173,600

-43,400

Net decrease in cash and cash equivalents

-486,000

-154,000

-75,000

482,000

-134,000

-165,000

102,000

360,000

-150,000

-122,000

-209,000

139,000

-21,000

566,000

35,000

-114,000

56,000

-127,000

-207,000

532,000

-119,000

-246,000

49,000

323,000

-1,192,000

705,000

24,000

158,000

-123,000

58,000

205,000

43,000

56,000

121,300

10,300

-9,800

-52,800

159,900

-81,200

253,200

-2,600

Supplemental cash flow information:
Income taxes paid, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

122,000

25,000

1,000

-

41,000

-103,000

55,000

-

79,000

12,000

92,000

-

56,000

-2,000

9,000

-

6,400

13,500

0

-

2,100

28,500

-2,000

Interest paid

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

31,000

37,000

24,000

-

35,000

40,000

26,000

-

29,000

17,000

26,000

-

20,000

12,000

14,000

-

13,700

11,600

14,600

-

13,800

1,500

14,200