FNF Group Reports First Quarter 2017 Diluted EPS of $0.25 and Adjusted Diluted EPS of $0.42, Pre-Tax Title Margin of 9.6% and Adjusted Pre-Tax Title Margin of 11.1%

May 3, 2017 at 4:15 PM EDT

FNF Group Reports First Quarter 2017 Diluted EPS of $0.25 and Adjusted Diluted EPS of $0.42, Pre-Tax Title Margin of 9.6% and Adjusted Pre-Tax Title Margin of 11.1% 118.9 KB

JACKSONVILLE, Fla., May 3, 2017 /PRNewswire/ -- Fidelity National Financial, Inc. today reported the operating results of FNF Group (NYSE:FNF), a leading provider of title insurance, technology and transaction services to the real estate and mortgage industries, for the three-month period ended March 31, 2017.

Total revenue of approximately $1.9 billion in the first quarter versus $1.7 billion in the first quarter of 2016
First quarter net earnings of $71 million and adjusted net earnings of $118 million versus net earnings of $73 million and adjusted net earnings of $94 million for the first quarter of 2016
First quarter diluted EPS of $0.25 and adjusted diluted EPS of $0.42 versus diluted EPS of $0.26 and adjusted diluted EPS of $0.33 in the first quarter of 2016
First quarter net cash flow used in operations of $11 million versus net cash flow provided by operations of $73 million in the first quarter of 2016

Title

Approximately $1.6 billion in total revenue, a 9% increase over the approximately $1.4 billion in total revenue in the first quarter of 2016
Pre-tax earnings of $151 million and adjusted pre-tax earnings of $175 million versus pre-tax earnings of $121 million and adjusted pre-tax earnings of $142 million in the first quarter of 2016
Pre-tax title margin of 9.6% and adjusted pre-tax title margin of 11.1% versus pre-tax title margin of 8.4% and adjusted pre-tax title margin of 9.8% in the first quarter of 2016
Open orders per day of 7,613 for the first quarter versus 8,339 open orders per day for the first quarter of 2016
Closed orders per day of 5,387 for the first quarter versus 5,194 closed orders per day for the first quarter of 2016
First quarter purchase orders opened and closed increased by 6% and 11%, respectively, versus the first quarter of 2016
Total commercial revenue of $224 million, a 6% increase over total commercial revenue in the first quarter of 2016, driven by a 2% decrease in closed orders and a 9% increase in total commercial fee per file; first quarter total commercial open orders increased 2% compared to the prior year; first quarter national commercial title revenue of $127 million, a 5% increase from the first quarter of 2016, driven by a 6% increase in closed orders and a 1% decline in the national commercial fee per file; first quarter national commercial open orders increased by 9%
Overall first quarter average fee per file of $2,148, a 6% increase versus the first quarter of 2016

Title Orders

	Direct Orders Opened *			Direct Orders Closed *
Month	/ (% Purchase)			/ (% Purchase)
January 2017		144,000	62%		112,000	53%
February 2017		145,000	64%		99,000	57%
March 2017		183,000	65%		123,000	64%

First Quarter 2017		472,000	64%		334,000	58%

	Direct Orders Opened *			Direct Orders Closed *
Month	/ (% Purchase)			/ (% Purchase)
January 2016		139,000	57%		94,000	55%
February 2016		182,000	52%		99,000	55%
March 2016		196,000	57%		129,000	53%

First Quarter 2016		517,000	55%		322,000	55%

* Includes an immaterial number of non-purchase and non-refinance orders

	Open		Closed		Commercial
	Commercial		Commercial		Revenue		Commercial
	Orders		Orders		(In millions)		Fee Per File
First Quarter 2017 - Total Commercial		49,400		30,000		$224		$7,500
First Quarter 2016 - Total Commercial		48,500		30,700		$211		$6,900

First Quarter 2017 - National Commercial		21,100		11,200		$127		$11,300
First Quarter 2016 - National Commercial		19,300		10,600		$121		$11,400

BKFS

Revenue of $256 million, led by Servicing Technology revenue of approximately $183 million
Pre-tax earnings of $41 million, equal to the first quarter of 2016
Adjusted EBITDA of $114 million, a $7 million, or 7%, increase over the first quarter of 2016 and an adjusted EBITDA margin of 46.0%, a 90 basis point increase over the first quarter of 2016

"This first quarter was a strong start to 2017," said Chairman William P. Foley, II. "We generated an 11.1% adjusted pre-tax title margin, our strongest first quarter pre-tax title margin since 2013. Additionally, adjusted pre-tax title earnings of $175 million were the largest amount of first quarter adjusted pre-tax title earnings in the history of the company. We expect the residential purchase and commercial markets to drive our performance in 2017, and they did just that in the first quarter, as residential open and closed purchase orders increased 6% and 11%, respectively, in the quarter and total commercial revenue grew by 6% versus the strong first quarter of 2016. We expect seasonal acceleration in the title business over the next few quarters and look forward to continued strong, industry-leading performance from our title insurance business.

"Black Knight continues to perform to our expectations, generating revenue of $256 million and adjusted EBITDA of $114 million, for a 46.0% adjusted EBITDA margin. FNF's Black Knight ownership stake is currently worth more than $3.5 billion, or approximately $12.50 per FNF share. Finally, we are continuing to focus on completing the necessary filings, shareholder votes and other closing conditions for the Black Knight distribution. We remain on track and expect a third quarter closing of the Black Knight distribution."

Conference Call
We will host a call with investors and analysts to discuss first quarter 2017 FNF Group results on Thursday, May 4, 2017, beginning at 11:30 a.m. Eastern Time. A live webcast of the conference call will be available on the Events and Multimedia page of the FNF Investor Relations website at www.fnf.com. The conference call replay will be available via webcast through the FNF Investor Relations website at www.fnf.com. The telephone replay will be available from 1:30 p.m. Eastern time on May 4, 2017, through May 11, 2017, by dialing 800-475-6701 (USA) or 320-365-3844 (International). The access code will be 421930.

About Fidelity National Financial, Inc.
Fidelity National Financial, Inc. is organized into two groups, FNF Group (NYSE: FNF) and FNFV Group (NYSE: FNFV). FNF is a leading provider of title insurance, technology and transaction services to the real estate and mortgage industries. FNF is the nation's largest title insurance company through its title insurance underwriters - Fidelity National Title, Chicago Title, Commonwealth Land Title, Alamo Title and National Title of New York - that collectively issue more title insurance policies than any other title company in the United States. FNF also provides industry-leading mortgage technology solutions and transaction services, including MSP®, the leading residential mortgage servicing technology platform in the U.S., through its majority-owned subsidiaries, Black Knight Financial Services, Inc. and ServiceLink Holdings, LLC. FNFV holds majority and minority equity investment stakes in a number of entities, including American Blue Ribbon Holdings, LLC, Ceridian HCM, Inc., Digital Insurance, Inc. and Del Frisco's Restaurant Group, Inc. More information about FNF and FNFV can be found at www.fnf.com.

Use of Non-GAAP Financial Information
Generally Accepted Accounting Principles (GAAP) is the term used to refer to the standard framework of guidelines for financial accounting. GAAP includes the standards, conventions, and rules accountants follow in recording and summarizing transactions and in the preparation of financial statements. In addition to reporting financial results in accordance with GAAP, the Company has provided non-GAAP financial measures, which it believes are useful to help investors better understand its financial performance, competitive position and prospects for the future. These non-GAAP measures include earnings before interest, taxes and depreciation and amortization (EBITDA), adjusted earnings before interest, taxes and depreciation and amortization (Adjusted EBITDA), adjusted earnings before interest, taxes and depreciation as a percent of adjusted revenue (Adjusted EBITDA margin), adjusted net earnings and adjusted EPS.

Any non-GAAP measures should be considered in context with the GAAP financial presentation and should not be considered in isolation or as a substitute for GAAP net earnings. Further, FNF's non-GAAP measures may be calculated differently from similarly titled measures of other companies. Reconciliations of these non-GAAP measures to related GAAP measures are provided below.

Forward-Looking Statements and Risk Factors
This press release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements regarding our expectations, hopes, intentions or strategies regarding the future are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: our ability to successfully achieve the conditions to and consummate the plans to distribute shares of Black Knight Financial Services and redeem and exchange the FNFV tracking stock with the result being an independent, publicly-traded FNFV common stock; changes in general economic, business and political conditions, including changes in the financial markets; weakness or adverse changes in the level of real estate activity, which may be caused by, among other things, high or increasing interest rates, a limited supply of mortgage funding or a weak U. S. economy; our potential inability to find suitable acquisition candidates, acquisitions in lines of business that will not necessarily be limited to our traditional areas of focus, or difficulties in integrating acquisitions; our dependence on distributions from our title insurance underwriters as a main source of cash flow; significant competition that our operating subsidiaries face; compliance with extensive government regulation of our operating subsidiaries.

This press release should be read in conjunction with the press release filed for the results of FNFV on this same date as well as the risks detailed in the "Statement Regarding Forward-Looking Information," "Risk Factors" and other sections of the Company's Form 10-Q, 10-K and other filings with the Securities and Exchange Commission.

FNF-E

FNF GROUP
FIRST QUARTER SEGMENT INFORMATION
(In millions, except order information in thousands) (Unaudited)

	Total FNF Group			Title			BKFS			FNF Group Corporate and Other
*Three Months Ended*
*March 31, 2017*
Direct title premiums	$	465		$	465		$	—		$	—
Agency title premiums	583			583			—			—
Escrow, title related and other fees (1)	819			496			258			65
Total title and escrow	1,867			1,544			258			65

Interest and investment income	28			28			—			—
Realized gains and losses, net	(6)			(2)			(2)			(2)
Total revenue	1,889			1,570			256			63

Personnel costs	669			548			101			20
Agent commissions	446			446			—			—
Other operating expenses	435			335			45			55
Depreciation and amortization	96			38			53			5
Claim loss expense	52			52			—			—
Interest expense	31			—			16			15
Total expenses	1,729			1,419			215			95

Pre-tax earnings (loss) from continuing operations	$	160		$	151		$	41		$	(32)

Non-GAAP adjustments before taxes
Realized (gains) and losses, net	6			2			2			2
Deferred revenue add back	1			—			1			—
Purchase price amortization	48			22			22			4
IPO costs	1			—			1			—
Total non-GAAP adjustments before taxes	$	56		$	24		$	26		$	6

Adjusted pre-tax earnings (loss) from continuing operations	$	216		$	175		$	67		$	(26)
Adjusted pre-tax margin from continuing operations	11.4		%	11.1		%	25.9		%	—

Purchase price amortization	(48)			(22)			(22)			(4)
Depreciation and amortization	96			38			53			5
Interest expense	31			—			16			15

Adjusted EBITDA	$	295		$	191		$	114		$	(10)
Adjusted EBITDA margin	15.6		%	12.2		%	46.0		%	—

1. BKFS also reported adjusted revenue of $259.5 million, which includes $1.3 million of deferred revenue

FNF GROUP
FIRST QUARTER SEGMENT INFORMATION
(In millions, except order information in thousands)
(Unaudited)

	Total FNF Group		Title		BKFS		FNF Group Corporate and Other
*Three Months Ended*
*March 31, 2017*
Pre-tax earnings (loss) from continuing operations	$	160	$	151	$	41	$	(32)
Income tax expense (benefit)	80		78		13		(11)
Earnings from equity investments	2		2		—		—
Non-controlling interests	11		(1)		12		—

Net earnings (loss) attributable to FNF Group common shareholders	$	71	$	76	$	16	$	(21)

EPS attributable to FNF Group common shareholders - basic	$	0.26	$	0.28	$	0.06	$	(0.08)
EPS attributable to FNF Group common shareholders - diluted	$	0.25	$	0.27	$	0.06	$	(0.08)

FNF Group weighted average shares - basic	271
FNF Group weighted average shares - diluted	279

Net earnings (loss) attributable to FNF Group common shareholders	$	71	$	76	$	16	$	(21)

Total non-GAAP, pre-tax adjustments	$	56	$	24	$	26	$	6
Income taxes on non-GAAP adjustments	(20)		(8)		(10)		(2)
Noncontrolling interest on non-GAAP adjustments	(10)		(3)		(7)		—
Nondeductible income taxes on consent order settlement	21		21		—		—
Total non-GAAP adjustments	$	47	$	34	$	9	$	4

Adjusted net earnings (loss) attributable to FNF Group common shareholders	$	118	$	110	$	25	$	(17)

Adjusted EPS attributable to FNF Group common shareholders - diluted	$	0.42	$	0.39	$	0.09	$	(0.06)

Direct orders opened (000's)	472		472
Direct orders closed (000's)	334		334
Fee per file	$	2,148	$	2,148
Actual title claims paid	$	51	$	51

Cash flows used in operations	$	(11)

FNF GROUP
FIRST QUARTER SEGMENT INFORMATION
(In millions, except order information in thousands)
(Unaudited)

	Total FNF Group			Title			BKFS			FNF Group Corporate and Other
*Three Months Ended*
*March 31, 2016*
Direct title premiums	$	422		$	422		$	—		$	—
Agency title premiums	530			530			—			—
Escrow, title related and other fees (1)	741			466			242			33
Total title and escrow	1,693			1,418			242			33

Interest and investment income	29			29			—			—
Realized gains and losses, net	(3)			—			—			(3)
Total revenue	1,719			1,447			242			30

Personnel costs	614			506			96			12
Agent commissions	402			402			—			—
Other operating expenses	405			331			41			33
Depreciation and amortization	85			35			48			2
Claim loss expense	52			52			—			—
Interest expense	31			—			16			15
Total expenses	1,589			1,326			201			62

Pre-tax earnings (loss) from continuing operations	$	130		$	121		$	41		$	(32)

Non-GAAP adjustments before taxes
Realized (gains) and losses, net	3			—			—			3
Deferred revenue add back and management fee	2			—			2			—
Purchase price amortization	41			21			20			—
Total non-GAAP adjustments before taxes	$	46		$	21		$	22		$	3

Adjusted pre-tax earnings (loss) from continuing operations	$	176		$	142		$	63		$	(29)
Adjusted pre-tax margin from continuing operations	10.2		%	9.8		%	25.8		%	—

Purchase price amortization	(41)			(21)			(20)			—
Depreciation and amortization	85			35			48			2
Interest expense	31			—			16			15

Adjusted EBITDA	$	251		$	156		$	107		$	(12)
Adjusted EBITDA margin	14.6		%	10.8		%	45.1		%	—

1. BKFS also reported adjusted revenue of $244 million, which includes $2 million of deferred revenue

FNF GROUP
FIRST QUARTER SEGMENT INFORMATION
(In millions, except order information in thousands)
(Unaudited)

	Total FNF Group		Title		BKFS		FNF Group Corporate and Other
*Three Months Ended*
*March 31, 2016*
Pre-tax earnings (loss) from continuing operations	$	130	$	121	$	41	$	(32)

Income tax expense (benefit)	50		45		14		(9)
Earnings from equity investments	3		3		—		—
Non-controlling interests	10		(2)		12		—

Net earnings (loss) attributable to FNF Group common shareholders	$	73	$	81	$	15	$	(23)

EPS attributable to FNF Group common shareholders - basic	$	0.27	$	0.30	$	0.05	$	(0.08)
EPS attributable to FNF Group common shareholders - diluted	$	0.26	$	0.29	$	0.05	$	(0.08)

FNF Group weighted average shares - basic	274
FNF Group weighted average shares - diluted	281

Net earnings (loss) attributable to FNF Group common shareholders	$	73	$	81	$	15	$	(23)

Total non-GAAP, pre-tax adjustments	$	46	$	21	$	22	$	3
Income taxes on non-GAAP adjustments	(15)		(6)		(8)		(1)
Noncontrolling interest on non-GAAP adjustments	(10)		(4)		(6)		—
Total non-GAAP adjustments	$	21	$	11	$	8	$	2

Adjusted net earnings (loss) attributable to FNF Group common shareholders	$	94	$	92	$	23	$	(21)

Adjusted EPS attributable to FNF Group common shareholders - diluted	$	0.33	$	0.33	$	0.08	$	(0.08)

Direct orders opened (000's)	517		517
Direct orders closed (000's)	322		322
Fee per file	$	2,032	$	2,032
Actual title claims paid	$	40	$	40

Cash flows provided by operations	$	73

FNF GROUP
QUARTERLY OPERATING STATISTICS
(Unaudited)

	Q1 2017			Q4 2016			Q3 2016			Q2 2016			Q1 2016			Q4 2015			Q3 2015			Q2 2015
Quarterly Open Orders ('000's except % data)
Total open orders*	472			474			616			577			517			441			514			560
Total open orders per day*	7.6			7.6			9.6			9.0			8.3			7.0			8.0			8.8
Purchase % of open orders	64		%	53		%	50		%	57		%	55		%	55		%	58		%	57		%
Refinance % of open orders	36		%	47		%	50		%	43		%	45		%	45		%	42		%	43		%
Total closed orders*	334			419			433			401			322			341			378			408
Total closed orders per day*	5.4			6.8			6.8			6.3			5.2			5.4			5.9			6.4
Purchase % of closed orders	58		%	51		%	54		%	58		%	55		%	58		%	60		%	54		%
Refinance % of closed orders	42		%	49		%	46		%	42		%	45		%	42		%	40		%	46		%

Commercial (millions, except orders in '000's)
Total commercial revenue	$	224		$	285		$	233		$	244		$	211		$	303		$	258		$	258
Total commercial open orders	49.4			45.9			50.4			49.9			48.5			46.3			50.3			50.8
Total commercial closed orders	30.0			34.7			31.9			33.6			30.7			36.3			33.0			32.4

National commercial revenue	$	127		$	167		$	130		$	144		$	121		$	183		$	146		$	150
National commercial open orders	21.1			17.9			20.4			20.3			19.3			18.1			21.0			21.2
National commercial closed orders	11.2			12.8			11.7			11.6			10.6			13.4			12.2			12.5

Total Fee Per File
Fee per file	$	2,148		$	2,091		$	2,015		$	2,116		$	2,032		$	2,272		$	2,133		$	2,026
Residential and local commercial fee per file	$	1,829		$	1,746		$	1,762		$	1,809		$	1,713		$	1,806		$	1,805		$	1,711
Residential fee per file	$	1,623		$	1,538		$	1,594		$	1,645		$	1,522		$	1,548		$	1,589		$	1,514
Total commercial fee per file	$	7,500		$	8,200		$	7,300		$	7,300		$	6,900		$	8,300		$	7,800		$	8,000
National commercial fee per file	$	11,300		$	13,000		$	11,100		$	12,400		$	11,400		$	13,600		$	12,000		$	12,000

Total Staffing
Total field operations employees	11,000			11,100			11,400			10,900			10,900			10,700			11,000			10,900

FNTG Only Quarterly Operating Statistics ('000's except fee per file and staffing)
Total open orders*	407			395			518			484			429			360			422			458
Total open orders per day*	6.6			6.4			8.1			7.5			6.9			5.7			6.6			7.2
Purchase % of open orders	69		%	59		%	55		%	63		%	61		%	62		%	65		%	65		%
Refinance % of open orders	31		%	41		%	45		%	37		%	39		%	38		%	35		%	35		%
Total closed orders*	277			352			369			338			265			285			314			334
Total closed orders per day*	4.5			5.7			5.8			5.3			4.3			4.5			4.9			5.2
Purchase % of closed orders	63		%	55		%	58		%	63		%	60		%	63		%	66		%	61		%
Refinance % of closed orders	37		%	45		%	42		%	37		%	40		%	37		%	34		%	39		%
Fee per file	$	2,395		$	2,313		$	2,205		$	2,337		$	2,261		$	2,521		$	2,364		$	2,264
Total title field operations employees	9,900			10,000			10,200			9,600			9,700			9,500			9,700			9,600

ServiceLink Only Quarterly Operating Statistics ('000's except fee per file and staffing)
Revenue (millions)	$	192		$	198		$	205		$	203		$	195		$	198		$	220		$	224
Total open orders*	65			79			98			93			87			81			92			102
Total open orders per day*	1.0			1.2			1.5			1.5			1.4			1.3			1.4			1.6
Purchase % of open orders	25		%	21		%	17		%	22		%	24		%	22		%	23		%	22		%
Refinance % of open orders	75		%	79		%	83		%	78		%	76		%	78		%	77		%	78		%
Total closed orders*	57			67			64			63			57			56			64			74
Total closed orders per day*	0.9			1.1			1.0			1.0			0.9			0.9			1.0			1.2
Purchase % of closed orders	30		%	24		%	27		%	27		%	28		%	31		%	26		%	21		%
Refinance % of closed orders	70		%	76		%	73		%	73		%	72		%	69		%	74		%	79		%
Fee per file	$	950		$	932		$	916		$	940		$	972		$	1,003		$	987		$	958
Total ServiceLink operations employees	1,100			1,100			1,200			1,300			1,200			1,200			1,300			1,300

* Includes an immaterial number of non-purchase and non-refinance orders

FNF GROUP
SUMMARY BALANCE SHEET INFORMATION
(In millions)

	FNF Group March 31, 2017			FNF Group December 31, 2016
	(Unaudited)				(Unaudited)
Cash and investment portfolio		$	4,660		$	4,965
Goodwill		4,869			4,859
Title plant		395			395
Total assets		12,755			13,063
Notes payable		2,463			2,513
Reserve for title claim losses		1,484			1,487
Secured trust deposits		748			860
Redeemable non-controlling interests		344			344
Non-redeemable non-controlling interests		797			786
Total equity and redeemable non-controlling interests		6,203			6,210
Total equity attributable to common shareholders		5,062			5,080

FNF Group

March 31, 2017

FNFV

March 31, 2017

Consolidated

March 31, 2017

Consolidated

December 31, 2016

(Unaudited)

(Unaudited)

Cash and investment portfolio

4,660

662

5,322

5,607

Goodwill

4,869

216

5,085

5,065

Title plant

395

—

395

Total assets

12,755

1,423

14,178

14,463

Notes payable

2,463

259

2,722

2,746

Reserve for title claim losses

1,484

—

1,484

1,487

Secured trust deposits

748

—

748

860

Redeemable non-controlling interests

344

—

344

Non-redeemable non-controlling interests

797

114

911

902

Total equity and redeemable non-controlling interests

6,203

1,031

7,234

7,242

Total equity attributable to common shareholders

5,062

917

5,979

5,996

Fidelity National Financial, Inc.
CONSOLIDATED SUMMARY OF EARNINGS
(In millions)
(Unaudited)

	Three Months Ended
	March 31, 2017
	Consolidated		Core		FNFV
Direct title premiums	$	465	$	465	$	—
Agency title premiums	583		583		—
Total title premiums	1,048		1,048		—
Escrow, title-related and other fees	868		819		49
Total title and escrow and other	1,916		1,867		49

Restaurant revenue	273		—		273
Interest and investment income	29		28		1
Realized gains and losses, net	(1)		(6)		5
Total revenue	2,217		1,889		328

Personnel costs	715		669		46
Other operating expenses	460		435		25
Cost of restaurant revenue	236		—		236
Agent commissions	446		446		—
Depreciation and amortization	112		96		16
Title claim loss expense	52		52		—
Interest expense	35		31		4
Total expenses	2,056		1,729		327

Earnings from continuing operations before taxes	161		160		1
Income tax expense (benefit)	78		80		(2)
Earnings from continuing operations before equity investments	83		80		3
(Loss) earnings from equity investments	(2)		2		(4)
Net earnings (loss)	81		82		(1)
Non-controlling interests	9		11		(2)
Net earnings attributable to common shareholders	$	72	$	71	$	1

Cash flows provided by (used in) operations	4		(11)		15

Fidelity National Financial, Inc.
CONSOLIDATED SUMMARY OF EARNINGS
(In millions)
(Unaudited)

	Three Months Ended
	March 31, 2016
	Consolidated		Core		FNFV
Direct title premiums	$	422	$	422	$	—
Agency title premiums	530		530		—
Total title premiums	952		952		—
Escrow, title-related and other fees	779		741		38
Total title and escrow and other	1,731		1,693		38

Restaurant revenue	293		—		293
Interest and investment income	30		29		1
Realized gains and losses, net	(6)		(3)		(3)
Total revenue	2,048		1,719		329

Personnel costs	652		614		38
Other operating expenses	432		405		27
Cost of restaurant revenue	245		—		245
Agent commissions	402		402		—
Depreciation and amortization	100		85		15
Title claim loss expense	52		52		—
Interest expense	34		31		3
Total expenses	1,917		1,589		328

Earnings from continuing operations before taxes	131		130		1
Income tax expense (benefit)	49		50		(1)
Earnings from continuing operations before equity investments	82		80		2
Earnings (loss) from equity investments	2		3		(1)
Net earnings from continuing operations	84		83		1
Non-controlling interests	10		10		—
Net earnings attributable to common shareholders	$	74	$	73	$	1

Cash flows provided by operations	92		73		19

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/fnf-group-reports-first-quarter-2017-diluted-eps-of-025-and-adjusted-diluted-eps-of-042-pre-tax-title-margin-of-96-and-adjusted-pre-tax-title-margin-of-111-300450970.html

SOURCE Fidelity National Financial, Inc.

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FNF Group Reports First Quarter 2017 Diluted EPS of $0.25 and Adjusted Diluted EPS of $0.42, Pre-Tax Title Margin of 9.6% and Adjusted Pre-Tax Title Margin of 11.1%

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