May 3, 2017

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%

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)


(Unaudited)




Cash and investment portfolio



$

4,660




$

662




$

5,322




$

5,607


Goodwill



4,869




216




5,085




5,065


Title plant



395







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




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.

News Provided by Acquire Media


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