0001331875-24-000019 | 10-K | XBRL Viewer | Fidelity National Financial INC

Investments - Changes in Allowance for Expected Credit Losses on Mortgage Loans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	$ 42	$ 31	$ 39
Provision for loan losses	27	11	(8)
Ending Balance	66	42	31
Residential Mortgage
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	32	25	37
Provision for loan losses	22	7	(12)
Ending Balance	54	32	25
Commercial Mortgage
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	10	6	2
Provision for loan losses	5	4	4
Ending Balance	$ 12	$ 10	$ 6

Recent Accounting Pronouncements - Summary of Balance of and Changes in Assets and Liability Position for MRBs due to ASU 2018-12 Transition (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Balance beginning/ending and adjustments	$ 315	$ 165	$ 428
Less: reinsured market risk benefits				$ 0
Fixed indexed annuities
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Balance beginning/ending and adjustments	314	164	426	478
Less: reinsured market risk benefits				0
Deferred Annuities
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Balance beginning/ending and adjustments	$ 1	$ 1	2	1
Less: reinsured market risk benefits				0
As Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Balance beginning/ending and adjustments				531
As Previously Reported \| Fixed indexed annuities
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Balance beginning/ending and adjustments				531
As Previously Reported \| Deferred Annuities
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Balance beginning/ending and adjustments				0
Adjustment for reversal of AOCI adjustments
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Balance beginning/ending and adjustments				(116)
Adjustment for reversal of AOCI adjustments \| Fixed indexed annuities
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Balance beginning/ending and adjustments				(116)
Adjustment for reversal of AOCI adjustments \| Deferred Annuities
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Balance beginning/ending and adjustments				0
Remaining cumulative difference (exclusive of the instrument specific credit risk change) between December 31, 2020 carrying amount and fair value measurement for the MRBs
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Balance beginning/ending and adjustments				(95)
Remaining cumulative difference (exclusive of the instrument specific credit risk change) between December 31, 2020 carrying amount and fair value measurement for the MRBs \| Fixed indexed annuities
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Balance beginning/ending and adjustments				(96)
Remaining cumulative difference (exclusive of the instrument specific credit risk change) between December 31, 2020 carrying amount and fair value measurement for the MRBs \| Deferred Annuities
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Balance beginning/ending and adjustments				1
Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Balance beginning/ending and adjustments				159
Cumulative Effect, Period of Adoption, Adjustment \| Fixed indexed annuities
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Balance beginning/ending and adjustments				159
Cumulative Effect, Period of Adoption, Adjustment \| Deferred Annuities
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Balance beginning/ending and adjustments				0
As adjusted
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Balance beginning/ending and adjustments				479
Balance, end of period, net of reinsurance			479
As adjusted \| Fixed indexed annuities
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Balance beginning/ending and adjustments				478
Balance, end of period, net of reinsurance			478
As adjusted \| Deferred Annuities
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Balance beginning/ending and adjustments				$ 1
Balance, end of period, net of reinsurance			$ 1

Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Definite and Indefinite Lived Other Intangible Assets

The following table reconciles to Other intangible assets, net, on the Consolidated Balance Sheets as of December 31, 2023 and December 31, 2022:


	December 31, 2023		December 31, 2022
	(In millions)
Customer relationships and contracts	$	174	$	202
VOBA	1,446		1,615
DAC	2,215		1,411
DSI	346		200
Value of distribution asset	86		100
Computer software	266		196
Trademarks, tradenames, and other	94		87
Total Other intangible assets, net	$	4,627	$	3,811

Other intangible assets as of December 31, 2023, consist of the following:


	Cost		Accumulated amortization		Net carrying amount		Weighted average useful life (years)
	(In millions)
Customer relationships and contracts	$	948	$	(774)	$	174	10
Computer software	651		(385)		266		2 to 10
Value of distribution asset (VODA)	140		(54)		86		15
Trademarks, tradenames, and other	146		(52)		94		Varies
Total					$	620

Other intangible assets as of December 31, 2022, consist of the following:


	Cost		Accumulated amortization		Net carrying amount		Weighted average useful life (years)
	(In millions)
Customer relationships and contracts	$	916	$	(714)	$	202	10
Computer software	537		(341)		196		2 to 10
Value of distribution Asset (VODA)	140		(40)		100		15
Trademarks, tradenames, and other	129		(42)		87		Varies
Total					$	585

Schedule of Indefinite-Lived Intangible Assets

The following table reconciles to Other intangible assets, net, on the Consolidated Balance Sheets as of December 31, 2023 and December 31, 2022:


	December 31, 2023		December 31, 2022
	(In millions)
Customer relationships and contracts	$	174	$	202
VOBA	1,446		1,615
DAC	2,215		1,411
DSI	346		200
Value of distribution asset	86		100
Computer software	266		196
Trademarks, tradenames, and other	94		87
Total Other intangible assets, net	$	4,627	$	3,811

Other intangible assets as of December 31, 2023, consist of the following:


	Cost		Accumulated amortization		Net carrying amount		Weighted average useful life (years)
	(In millions)
Customer relationships and contracts	$	948	$	(774)	$	174	10
Computer software	651		(385)		266		2 to 10
Value of distribution asset (VODA)	140		(54)		86		15
Trademarks, tradenames, and other	146		(52)		94		Varies
Total					$	620

Other intangible assets as of December 31, 2022, consist of the following:


	Cost		Accumulated amortization		Net carrying amount		Weighted average useful life (years)
	(In millions)
Customer relationships and contracts	$	916	$	(714)	$	202	10
Computer software	537		(341)		196		2 to 10
Value of distribution Asset (VODA)	140		(40)		100		15
Trademarks, tradenames, and other	129		(42)		87		Varies
Total					$	585

Rollforward of Value of Business Acquired

The following tables roll forward VOBA by product for the years ended December 31, 2023 and December 31, 2022:


	FIA		Fixed Rate Annuities		Immediate Annuities		Universal Life		Traditional Life		Total
	(In millions)
Balance at January 1, 2023	$	1,166	$	32	$	201	$	143	$	73	$	1,615

Amortization	(141)		(5)		(10)		(9)		(4)		(169)

Balance at December 31, 2023	$	1,025	$	27	$	191	$	134	$	69	$	1,446


	FIA		Fixed Rate Annuities		Immediate Annuities		Universal Life		Traditional Life		Total
	(In millions)
Balance at January 1, 2022	$	1,314	$	39	$	212	$	153	$	25	$	1,743

Amortization	(148)		(7)		(11)		(10)		(4)		(180)
Shadow Premium Deficiency Testing (“PDT”)	—		—		—		—		52		52
Balance at December 31, 2022	$	1,166	$	32	$	201	$	143	$	73	$	1,615

Schedule of Reconciliation of VOBA to the Condensed Consolidated Balance Sheets

The following table presents a reconciliation of VOBA to the table above which is reconciled to the Consolidated Balance Sheets as of December 31, 2023 and December 31, 2022:


	December 31, 2023		December 31, 2022
	(In millions)
FIA	$	1,025	$	1,166
Fixed Rate Annuities	27		32
Immediate Annuities	191		201
Universal Life	134		143
Traditional Life	69		73

Total	$	1,446	$	1,615

Rollforward of Deferred Policy Acquisition Costs

The following tables roll forward DAC by product for the years ended December 31, 2023 and December 31, 2022:


	FIA		Fixed Rate Annuities		Universal Life		Total (a)
	(In millions)
Balance at January 1, 2023	$	971	$	83	$	348	$	1,402
Capitalization	510		177		229		916
Amortization	(103)		(51)		(32)		(186)
Reinsurance related adjustments	—		79		—		79
Balance at December 31, 2023	$	1,378	$	288	$	545	$	2,211

	FIA		Fixed Rate Annuities		Universal Life		Total (a)
	(In millions)
Balance at January 1, 2022	$	564	$	38	$	173	$	775
Capitalization	474		56		196		726
Amortization	(67)		(11)		(21)		(99)
Balance at December 31, 2022	$	971	$	83	$	348	$	1,402

(a) Excludes insignificant amounts of DAC related to FABN.

Schedule of Reconciliation of Deferred Policy Acquisition Cost to Statement of Financial Position

The following table presents a reconciliation of DAC to the table above which is reconciled to the Consolidated Balance Sheets as of December 31, 2023 and December 31, 2022:


	December 31, 2023		December 31, 2022
	(In millions)
FIA	$	1,378	$	971
Fixed Rate Annuities	288		83

Universal Life	545		348

Funding Agreements	4		9
Total	$	2,215	$	1,411

Rollforward of Deferred Sale Inducement Cost

The following tables roll forward DSI for the years ended December 31, 2023 and December 31, 2022:


	FIA		Total
	(In millions)
Balance at January 1, 2023	$	200	$	200
Capitalization	168		168
Amortization	(22)		(22)
Balance at December 31, 2023	$	346	$	346

	FIA		Total
	(In millions)
Balance at January 1, 2022	$	127	$	127
Capitalization	87		87
Amortization	(14)		(14)
Balance at December 31, 2022	$	200	$	200

Schedule of Reconciliation of DSI Cost to Condensed Consolidated Balance Sheets

The following table presents a reconciliation of DSI to the table above which is reconciled to the Consolidated Balance Sheets as of December 31, 2023 and December 31, 2022:


	December 31, 2023		December 31, 2022
	(In millions)
FIA	$	346	$	200





Total	$	346	$	200

Estimated Amortization Expense for VOBA in Future Fiscal Periods

For the in-force liabilities as of December 31, 2023, the estimated amortization expense for VOBA in future fiscal periods is as follows:


	Estimated Amortization Expense
Fiscal Year	(In millions)
2024	$	149
2025	139
2026	127
2027	116
2028	105
Thereafter	810
Total	$	1,446

Business and Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Business and Summary of Significant Accounting Policies

The following describes the business and significant accounting policies of Fidelity National Financial, Inc. and its subsidiaries (collectively, "we," "us," "our," the "Company" or "FNF"), which have been followed in preparing the accompanying Consolidated Financial Statements.

Description of the Business

We are a leading provider of (i) title insurance, escrow and other title-related services, including trust activities, trustee sales guarantees, recordings and reconveyances and home warranty products, (ii) technology and transaction services to the real estate and mortgage industries and (iii) annuity and life insurance products. FNF is one of the nation’s largest title insurance companies operating through its title insurance underwriters - Fidelity National Title Insurance Company ("FNTIC"), Chicago Title Insurance Company ("Chicago Title"), Commonwealth Land Title Insurance Company ("Commonwealth Title"), Alamo Title Insurance and National Title Insurance of New York Inc. - which collectively issue more title insurance policies than any other title company in the United States. Through our subsidiary, ServiceLink Holdings, LLC ("ServiceLink"), we provide mortgage transaction services, including title-related services and facilitation of production and management of mortgage loans. We are also a leading provider of insurance solutions serving retail annuity and life customers and institutional clients through our majority owned subsidiary, F&G Annuities & Life ("F&G").

For information about our reportable segments refer to Note J Segment Information.

Recent Developments

Amendment to our Revolving Credit Facility

On February 16, 2024, we entered into a Sixth Amended and Restated Credit Agreement for our $800 million revolving credit facility (the "Amended Revolving Credit Facility") with Bank of America, N.A., as administrative agent and other agents party thereto (the "Sixth Restated Credit Agreement"). For further information related to the Amended Revolving Credit Facility and the Sixth Restated Credit Agreement refer to Note G Notes Payable.

Amendment to the F&G Credit Agreement

On February 16, 2024, we entered into a Second Amended and Restated F&G Credit Agreement of our $665 million credit agreement, with the guarantors party thereto, the financial institutions party thereto as lenders, and Bank of America, N.A., as administrative agent, swing line lender and an issuing bank (the "Second Amended and Restated F&G Credit Agreement"). For more information related to the Second Amended and Restated F&G Credit Agreement refer to Note G Notes Payable.

Acquisition of ROAR

On January 2, 2024, F&G acquired a 70% majority ownership stake in the equity of Roar Joint Venture, LLC ("Roar"). Roar wholesales life insurance and annuity products to banks and broker dealers through a network of agents. Total initial consideration is comprised of cash of approximately $269 million and contingent consideration. Under the terms of the purchase agreement, the Company has agreed to make cash payments of up to approximately $90 million over a three year period upon the achievement of certain earnings before interest, taxes, depreciation and amortization milestones of Roar.

Investment of $250 million in F&G

On January 12, 2024, we completed a $250 million preferred stock investment in F&G. F&G will use the net proceeds from the investment to support growth of its assets under management.

Under the terms of the agreement, we have agreed to invest $250 million in exchange for 5 million shares of F&G's 6.875% Series A Mandatory Convertible Preferred Stock, par value $0.001 per share (the "Mandatory Convertible Preferred Stock"). Each share of Mandatory Convertible Preferred Stock will have a liquidation preference of $50.00 per share. Unless earlier converted at the option of the holder, each outstanding share of the Mandatory Convertible Preferred Stock will automatically convert into shares of common stock of F&G on January 15, 2027 (the "Mandatory Conversion Date"). Upon conversion on the Mandatory Conversion Date, the conversion rate for each share of the Mandatory Convertible Preferred Stock will be no more than 1.1111 shares of common stock and no less than 0.9456 shares of common stock per share of Mandatory Convertible Preferred Stock, depending on the value of F&G's common stock.

7.95% F&G Senior Notes

On December 6, 2023, F&G completed the public offering of $345 million aggregate principal amount of its 7.95% Senior Notes due 2053 (the "7.95% F&G Notes"). F&G used the net proceeds from the sale of the notes to repay borrowings under its revolving credit facility and for general corporate purposes, including the support of organic growth opportunities. The Senior notes were registered under the Securities Act of 1933 (as amended) (the "Securities Act"). For further information related to the 7.95% F&G Notes, refer to Note G Notes Payable.

2023 Cybersecurity Incident

On November 19, 2023, we became aware of a cybersecurity incident that impacted certain of our systems. We promptly commenced an investigation, retained leading experts to assist the Company, notified law enforcement authorities, regulatory authorities and other stakeholders, and followed our incident response plans. In addition, we took containment measures such as blocking access to certain of our systems resulting in varying levels of disruption to our businesses. The incident was contained on November 26, 2023.

We completed our forensic investigation on December 13, 2023. We determined that an unauthorized third-party accessed certain of our systems, deployed a type of malware that is not self-propagating, and exfiltrated certain data. We have no evidence that any customer-owned system was directly impacted in the incident, and no customer has reported that this has occurred. The last confirmed date of unauthorized third-party activity in our network occurred on November 20, 2023.

We have identified and analyzed the nature and scope of the affected systems and data. We have notified our affected customers and applicable state attorneys general and regulators, and approximately 1.3 million potentially impacted consumers; are providing credit monitoring, web monitoring, and identity theft restoration services; and are fielding questions from customers. We are continuing to coordinate with law enforcement, our customers, regulators, advisors and other stakeholders. We have been named as a defendant in several lawsuits related to this incident. The Company will vigorously defend itself against any litigation filed related to this incident. For further information on the litigation related to this incident, refer to Note H Commitments and Contingencies.

At this time, we do not believe that the incident will have a material impact on the Company.

7.40% F&G Senior Notes

On January 13, 2023, F&G completed its issuance and sale of $500 million aggregate amount of its 7.40% Senior Notes due 2028 (the "7.40% F&G Notes"), pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended. The 7.40% F&G Notes are the senior unsecured, unsubordinated obligations of F&G and are guaranteed on an unsecured, unsubordinated basis by each of F&G's subsidiaries that are guarantors of its obligations under the F&G Credit Agreement (the "Guarantors"). F&G intends to use the net proceeds from the offering of the 7.40% F&G Notes for general corporate purposes, including to support the growth of assets under management and for F&G's future liquidity requirements. The interest rate payable on the 7.40% F&G Notes will be subject to adjustment from time to time if either S&P or Fitch (or a substitute rating agency) downgrades (or downgrades and subsequently upgrades) the credit ratings assigned to the 7.40% F&G Notes. For further information related to the 7.40% F&G Notes, refer to Note G Notes Payable.

Acquisition of TitlePoint

On January 1, 2023, we completed our previously announced acquisition of TitlePoint for $224 million in cash, subject to a customary working capital adjustment. TitlePoint enables searches for detailed property information, images of documents and maps from hundreds of counties across the U.S and is a leader in the science of real estate property research technology. For further information related to the acquisition of TitlePoint, refer to Note B Acquisitions.

Principles of Consolidation and Basis of Presentation

The accompanying Consolidated Financial Statements are prepared in accordance with generally accepted accounting principles in the United States ("GAAP") and include our accounts as well as our wholly-owned and majority-owned subsidiaries. All intercompany profits, transactions and balances have been eliminated. In our title segment, our investments in unconsolidated subsidiaries and affiliates are accounted for using the equity method until such time that they become wholly or majority-owned. Earnings attributable to noncontrolling interests recorded on the Consolidated Statements of Earnings represents the portion of a majority-owned subsidiary's net earnings or loss that is owned by noncontrolling shareholders of the subsidiary. Noncontrolling interest recorded on the Consolidated Balance Sheets represents the portion of equity in a consolidated subsidiary owned by noncontrolling shareholders.

We are involved in certain entities that are considered variable interest entities ("VIEs") as defined under GAAP. Our involvement with VIEs is primarily to invest in assets that allow us to gain exposure to a broadly diversified portfolio of asset classes. A VIE is an entity that does not have sufficient equity to finance its own activities without additional financial support, where investors lack certain characteristics of a controlling financial interest, or where the entity is structured with non-substantive voting rights. We assess our relationships with VIEs to evaluate if we are the primary beneficiary of the VIE. If we

determine we are the primary beneficiary of a VIE, we consolidate the assets and liabilities of the VIE in our Consolidated Financial Statements. See Note E Investments for additional information on our investments in VIEs.

Investments

Fixed Maturity Securities Available-for-Sale

Fixed maturity securities are purchased to support our investment strategies, which are developed based on factors including rate of return, maturity, credit risk, duration, tax considerations and regulatory requirements. Our investments in fixed maturity securities have been designated as available-for-sale ("AFS") and are carried at fair value, net of allowance for expected credit losses, with unrealized gains and losses included within AOCI, net of deferred income taxes. Fair values for fixed maturity securities are principally a function of current market conditions and are primarily valued based on quoted prices in markets that are not active or model inputs that are observable or unobservable. We recognize investment income on fixed maturities based on the effective interest method, which results in the recognition of a constant rate of return on the investment equal to the prevailing rate at the time of purchase or at the time of subsequent adjustments of book value. In our title segment, realized gains and losses on sales of our fixed maturity securities are determined on the basis of the cost of the specific investments sold and are credited or charged to income on a trade date basis. Our F&G segment uses first-in first-out cost basis and generally records security transactions on a trade date basis except for private placements, which are recorded on a settlement date basis. Realized gains and losses on sales of fixed maturity securities are reported within Recognized gains and losses, net in the accompanying Consolidated Statements of Earnings. Fixed maturity securities AFS are subject to an allowance for credit loss and changes in the allowance are reported in net earnings as a component of Recognized gains and losses, net. For details on our policy around allowance for expected credit losses on AFS securities, refer to Note E Investments.

Preferred and Equity Securities

Equity and preferred securities held are carried at fair value as of the balance sheet dates. The fair values of our equity and preferred securities are based on quoted prices in active markets, or are valued based on quoted prices in markets that are not active or model inputs that are observable or unobservable or based on net asset value ("NAV"). Changes in fair value and realized gains and losses on sales of our preferred and equity securities are reported within Recognized gains and losses, net in the accompanying Consolidated Statements of Earnings. Recognized gains and losses on sales of our preferred and equity securities are credited or charged to earnings on a trade date basis, unless the security is a private placement in which case settlement date basis is used. Interest and dividend income from these investments is reported in Interest and investment income in the accompanying Consolidated Statements of Earnings.

Derivative Financial Instruments

In our F&G segment, we hedge certain portions of our exposure to product related equity market risk by entering into derivative transactions (primarily call options). We utilize interest rate swaps to reduce market risks from interest rate changes on our earnings associated with our floating rate investments. All such derivative instruments are recognized as either assets or liabilities in the accompanying Consolidated Balance Sheets at fair value. The changes in fair value are reported within Recognized gains and losses, net in the accompanying Consolidated Statements of Earnings.

We purchase financial instruments and issue products that may contain embedded derivative instruments. If it is determined that the embedded derivative possesses economic characteristics that are not clearly and closely related to the economic characteristics of the host contract, and a separate instrument with the same terms would qualify as a derivative instrument, the embedded derivative is bifurcated from the host contract for measurement purposes. The Company’s embedded derivative associated to our FIA crediting rates policies is carried at fair value, which is determined through a combination of market observable inputs such as market value of option and interest swap rates and unobservable inputs such as the mortality multiplier, surrender and withdrawal rates and non-performance spread. The changes in fair value of the FIA embedded derivative are reported within Benefits and other changes in policy reserves in the accompanying Consolidated Statements of Earnings.

Reinsurance Related Embedded Derivatives

As discussed in Note O F&G Reinsurance, F&G entered into reinsurance agreements to cede a quota share of certain deferred annuity, multi-year guaranteed annuities ("MYGA") and deferred annuity"), respectively, GAAP and statutory reserves on a coinsurance funds withheld basis, net of applicable existing reinsurance. Funds withheld arrangements allow the Company to retain legal ownership of assets backing reinsurance arrangements until they are earned by the reinsurer while passing credit risk associated with the assets in the funds withheld account to the reinsurer. These arrangements create embedded derivatives considered to be total return swaps with contractual returns that are attributable to the assets and liabilities associated with the reinsurance arrangement. The fair value of the total return swap is based on the change in fair value of the underlying assets held in the funds withheld portfolio. Investment results for the assets that support the coinsurance with funds withheld reinsurance arrangement, including gains and losses from sales, are passed directly to the reinsurer pursuant to contractual terms of the reinsurance arrangement. These total return swaps are not clearly and closely related to the underlying reinsurance

contract and thus require bifurcation. The reinsurance related embedded derivative is reported in Prepaid expenses and other assets if in a net gain position, or Accounts payable and accrued liabilities, if in a net loss position on the Consolidated Balance Sheets and the related gains or losses are reported in Recognized gains (losses) on the Consolidated Statements of Earnings.

Mortgage Loans

Our investment in mortgage loans consists of commercial and residential mortgage loans on real estate, which are reported at amortized cost, less allowance for expected credit losses. For details on our policy around allowance for expected credit losses on mortgage loans, refer to Note E Investments.

Commercial mortgage loans ("CMLs") are continuously monitored by reviewing appraisals, operating statements, rent revenues, annual inspection reports, loan specific credit quality, property characteristics, market trends and other factors.

CMLs are rated for the purpose of quantifying the level of risk. Loans are placed on a watch list when the debt service coverage ("DSC") ratio falls below certain thresholds and the loan-to-value ("LTV") ratios exceeds certain thresholds. Loans on the watchlist are closely monitored for collateral deficiency or other credit events that may lead to a potential loss of principal or interest. We define delinquent mortgage loans as 30 days past due, consistent with industry practice.

Residential mortgage loans ("RMLs") have a primary credit quality indicator of either a performing or nonperforming loan. We define nonperforming RMLs as those that are 90 or more days past due and/or in nonaccrual status, which is assessed monthly. Generally, nonperforming RMLs have a higher risk of experiencing a credit loss. We consider residential mortgage loans that are 90 or more days past due and have an LTV greater than 90% to be foreclosure probable.

Interest on loans is recognized on an accrual basis at the applicable interest rate on the principal amount outstanding. Loan origination fees and direct costs, as well as premiums and discounts, are amortized as level yield adjustments over the respective loan terms. Unamortized net fees or costs are recognized upon early repayment of the loans. Loan commitment fees are deferred and amortized on an effective yield basis over the term of the loan. Interest income, amortization of premiums and discounts, prepayment fees, and loan commitment fees are reported in Interest and investment income in the accompanying Consolidated Statements of Earnings.

Short-term investments

Short-term investments consist of financial instruments with an original maturity of one year or less when purchased and include short-term fixed maturity securities and money market instruments, which are carried at fair value, and short-term loans, which are carried at amortized cost, which approximates fair value.

Investments in Unconsolidated Affiliates

In our F&G segment, we account for our investments in unconsolidated affiliates using the equity method or by electing the fair value option. Initial investments are recorded at cost. For investments subsequently measured using the equity method (primarily limited partnerships), adjustments to the carrying amount reflect our pro rata ownership percentage of the operating results as indicated by net asset value (“NAV”) in the unconsolidated affiliates’ financial statements, which we may adjust if we determine NAV is not calculated consistent with investment company fair value principles. Distributions received from investments measured using the equity method are recorded as a decrease in the investment balance. For investments subsequently measured using the fair value option, adjustments to the carrying amount reflecting the change in fair value of the investment are reported along with realized gains and losses on sales of investments in unconsolidated affiliates in Recognized gains and (losses), net in the accompanying Consolidated Statements of Earnings. Distributions received from investments measured using the fair value option is reported within Interest and investment income in the accompanying Consolidated Statements of Earnings. Recognition of income and adjustments to the carrying amount can be delayed due to the availability of the related financial statements, which are obtained from the general partner or managing member generally on a one to three-month delay. For investments using the equity method, management inquires quarterly with the general partner or managing member to determine whether any credit or other market events have occurred since prior quarter financial statements to ensure any material events are properly included in current quarter valuation and investment income.

In our title segment, we account for our investments in unconsolidated affiliates using the equity method of accounting and earnings on our investments in unconsolidated affiliates are recorded within Equity in earnings of unconsolidated affiliates within the Consolidated Statements of Earnings. We classify distributions received from unconsolidated affiliates in our Consolidated Statements of Cash Flows using the cumulative earnings approach. Under the cumulative earnings approach, distributions are considered returns on investment and classified as cash inflows from operating activities unless the Company’s cumulative distributions from an investee received exceed the cumulative equity in earnings of such investee. When cumulative distributions from an investee exceed cumulative equity in earnings of the investee, such excess is considered a return of investment and is classified as a cash inflow from investing activities.

Interest and investment income

Dividends and interest income are recorded in Interest and investment income and recognized when earned. Income or losses upon call or prepayment of fixed maturity securities are recognized in Interest and investment income. Amortization of

premiums and accretion of discounts on investments in fixed maturity securities are reflected in Interest and investment income over the contractual terms of the investments, and for callable investments at a premium, based on the earliest call date of the investments, in a manner that produces a constant effective yield.

For mortgage-backed and asset-backed securities, included in the fixed maturity securities portfolios, one of two models may be used to recognize interest income. For higher rated securities, interest income will be estimated based on an effective yield that considers cash flows received to date plus current expectations of future cash flows. For all other securities, interest income will be estimated based upon an effective yield that considers current expectations of future cash flows. For both interest income models, the estimated future cash flows include assumptions regarding the performance of the underlying collateral pool.

Interest and investment income is presented net of earned investment management fees and the effects of certain reinsurance contracts.

Cash and Cash Equivalents

Highly liquid instruments purchased as part of cash management with original maturities of three months or less are considered cash equivalents. The carrying amounts reported in the Consolidated Balance Sheets for these instruments approximate fair value.

Trade and Notes Receivables

The carrying values reported in the Consolidated Balance Sheets for trade and notes receivables approximate their fair value.

Premium revenues from agency title operations are recognized when the underlying title order and transaction closing, if applicable, are complete and reported to us. Premium revenues from agency operations and related commissions include an accrual based on estimated historical transaction volume data for policies that have closed in a particular period in which premiums have not yet been reported to us. Historically, the time lag between the closing of these transactions by our agents and the reporting of these policies, or premiums, to us has been up to 15 months, with 66% - 91% reported within three months following closing, an additional 6% - 17% reported within the next three months and the remainder within seven to fifteen months. In addition to accruing these earned but unreported agency premiums, we also accrue agent commission expense, which was 76.9% of agent premiums earned in 2023, 77.1% of agent premiums earned in 2022, and 76.7% of agent premiums earned in 2021. The amount due from our agents relating to this accrual, i.e., the agent premium less their contractual retained commission, was approximately $35 million and $74 million at December 31, 2023 and 2022, respectively. Due to the offsetting effects of reversing prior period accruals, the impact of this accrual to our recorded Agency title insurance premiums, Agent commissions and net earnings in any given period is not considered material.

Fair Value of Financial Instruments

The fair values of financial instruments presented in the Consolidated Financial Statements are estimates of the fair values at a specific point in time using available market information and appropriate valuation methodologies. These estimates are subjective in nature and involve uncertainties and significant judgment in the interpretation of current market data. See a description of the fair value methodology used in Note D Fair Value of Financial Instruments.

Fair Value of Assets Acquired and Liabilities Assumed in Business Combinations

Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 805, Business Combinations, requires an acquirer to recognize, separately from goodwill, the identifiable assets acquired, liabilities assumed, and any noncontrolling interest in the acquiree, and to measure these items generally at their acquisition date fair values. Goodwill is recorded as the residual amount by which the purchase price exceeds the fair value of the net assets acquired. If the initial accounting for a business combination is incomplete by the end of the reporting period in which the combination occurs, we are required to report provisional amounts in the financial statements for the items for which the accounting is incomplete. Adjustments to provisional amounts initially recorded that are identified during the measurement period are recognized in the reporting period in which the adjustment amounts are determined. This includes any effect on earnings of changes in depreciation, amortization, or other income effects as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. During the measurement period, we are also required to recognize additional assets or liabilities if new information is obtained about facts and circumstances that existed as of the acquisition date that, if known, would have resulted in the recognition of those assets and liabilities as of that date. The measurement period ends the sooner of one year from the acquisition date or when we receive the information we were seeking about facts and circumstances that existed as of the acquisition date or learn that more information is not obtainable. Contingent consideration liabilities or receivables recorded in connection with business acquisitions must also be adjusted for changes in fair value until settled.

Goodwill

Goodwill represents the excess of cost over fair value of identifiable net assets acquired and assumed in a business combination. Goodwill and other intangible assets with indefinite useful lives are reviewed for impairment at the reporting unit level on an annual basis or more frequently if circumstances indicate potential impairment, through a comparison of fair value to the carrying amount. In evaluating the recoverability of goodwill, we perform an annual goodwill impairment analysis based on a review of qualitative factors to determine if events and circumstances exist, which will lead to a determination that the fair value of a reporting unit is greater than its carrying amount, prior to performing a full fair-value assessment.

We completed annual goodwill impairment analyses in the fourth quarter of each period presented using a September 30 measurement date. For the years ended December 31, 2023, 2022 and 2021, we determined there were no events or circumstances that indicated that the carrying value of a reporting unit exceeded the fair value.

VOBA, DAC, DSI and URL

Our intangible assets include the value of insurance and reinsurance contracts acquired (hereafter referred to as "VOBA"), deferred acquisition costs ("DAC"), deferred sales inducements ("DSI") and unearned revenue liabilities ("URL").

VOBA is an intangible asset that reflects the amount recorded as insurance contract liabilities less the estimated fair value of in-force contracts ("VIF") in a life insurance company acquisition. It represents the portion of the purchase price that is allocated to the value of the rights to receive future cash flows from the business in force at the acquisition date. VOBA is a function of the VIF, current GAAP reserves, GAAP assets, and deferred tax liability. The VIF is determined by the present value of statutory distributable earnings less opening required capital. DAC consists principally of commissions and other acquisition costs that are related directly to the successful sale of new or renewal insurance contracts. Indirect or unsuccessful acquisition costs, maintenance, product development and overhead expenses are charged to expense as incurred. DSI represents up front bonus credits and persistency or vesting bonuses credited to contractholder fund balances.

VOBA, DAC, and DSI are amortized on a constant level basis for the grouped contracts over the expected term of the related contracts to approximate straight-line amortization. Contracts are grouped by product type and feature and issue year into cohorts consistent with the grouping used in estimating the associated liability, where applicable. The constant level amortization bases of VOBA, DAC and DSI varies by product type. For universal life and indexed universal life ("IUL") insurance products, the constant level basis used is face amount in force. For deferred annuities (fixed indexed annuities ("FIA") and fixed rate annuities), the constant level basis used is initial premium deposit for DAC and DSI and vested account value as of the acquisition date for VOBA. For immediate annuity contracts, the VOBA balance is amortized in alignment with the Company’s accounting policy of amortizing the deferred profit liability ("DPL"). All amortization bases are adjusted by full lapses, which includes deaths, full surrenders, annuitizations and maturities, where applicable.

The constant level bases used for amortization are projected using mortality and lapse assumptions that are based on Company’s experience, industry data, and other factors and are consistent with those used for the future policy benefits ("FPBs"), where applicable. If those projected assumptions change in future periods, they will be reflected in the cohort level amortization basis at that time. Unexpected contract terminations, due to higher mortality and/or lapse experience than expected, are recognized in the current period as a reduction of the capitalized balances. All balances are reduced for actual experience in excess of expected experience with changes in future estimates recognized prospectively over the remaining expected grouped contract term. The impact of changes in projected assumptions and the impact of actual experience that is different from expectations both impact the amortization of these intangible assets, which is reported within Depreciation and amortization in the accompanying Consolidated Statements of Earnings.

Some of our IUL policies require payment of fees or other policyholder assessments in advance for services that will be rendered over the estimated lives of the policies or contracts. These payments are established as URLs upon receipt and included in Accounts payable and other accrued liabilities in the Consolidated Balance Sheets. URL is amortized like DAC over the estimated lives of these policies.

Other Intangible Assets

We have other intangible assets, not including goodwill, VOBA, DAC or DSI, which consist primarily of customer relationships and contracts, the value of distribution network acquired ("VODA"), trademarks and tradenames and state licenses, and computer software, which are generally recorded in connection with acquisitions at their fair value. Intangible assets with estimable lives are amortized over their respective estimated useful lives to their estimated residual values and reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. In general, customer relationships are amortized over their estimated useful lives, generally ten years, using an accelerated method, which takes into consideration expected customer attrition rates. VODA is an intangible asset that represents the value of an acquired distribution network and is amortized using the sum of years digits method. Contractual relationships are generally amortized over their contractual life. Trademarks and tradenames are generally amortized over ten

years. Capitalized computer software includes the fair value of software acquired in business combinations, purchased software and capitalized software development costs. Purchased software is recorded at cost and amortized using the straight-line method over its estimated useful life. Software acquired in business combinations is recorded at its fair value and amortized using straight-line or accelerated methods over its estimated useful life, ranging from five to ten years. For internal-use computer software products, internal and external costs incurred during the preliminary project stage are expensed as they are incurred. Internal and external costs incurred during the application development stage are capitalized and amortized on a product-by-product basis commencing on the date the software is ready for its intended use. We do not capitalize any costs once the software is ready for its intended use.

We review VOBA, DSI and other intangible assets for impairment annually or when events or circumstances occur that indicate a potential change in the underlying basis. For further information, refer to Note M Intangibles.

Title Plants

Title plants are recorded at the cost incurred to construct or obtain and organize historical title information to the point it can be used to perform title searches. Costs incurred to maintain, update and operate title plants are expensed as incurred. Title plants are not amortized as they are considered to have an indefinite life, if maintained. Sales of title plants are reported at the amount received net of the adjusted costs of the title plant sold. Sales of title plant copies are reported at the amount received. No cost is allocated to the sale of copies of title plants unless the carrying value of the title plant is diminished or impaired. Title plants are reviewed for impairment whenever events or circumstances indicate that the carrying amounts may not be recoverable. We reviewed title plants for impairment for the years ended December 31, 2023, 2022 and 2021 and did not record any impairment expense in the years ended December 31, 2023 or 2021. We recorded $1 million of impairment expense related to title plants in the year ended December 31, 2022.

Property and Equipment

Property and equipment are recorded at cost, less accumulated depreciation. Depreciation is computed primarily using the straight-line method based on the estimated useful lives of the related assets: twenty to thirty years for buildings and three to twenty-five years for furniture, fixtures and equipment. Leasehold improvements are amortized on a straight-line basis over the lesser of the term of the applicable lease or the estimated useful lives of such assets. Property and equipment are reviewed for impairment whenever events or circumstances indicate that the carrying amounts may not be recoverable. We recorded $2 million of impairment expense related to property and equipment in our title segment in the year ended December 31, 2022.

Contractholder Funds

Contractholder funds include deferred annuities (FIAs and fixed rate annuities), IULs, funding agreements and non-life contingent ("NLC") immediate annuities (which includes NLC pension risk transfer ("PRT") annuities). The liabilities for contractholder funds for fixed rate annuities, funding agreements and NLC immediate annuities consist of contract account balances that accrue to the benefit of the contractholders. The liabilities for FIA and IUL policies consist of the value of the host contract plus the fair value of the indexed crediting feature of the policy, which is accounted for as an embedded derivative. The embedded derivative liability is carried at fair value in contractholder funds in the accompanying Consolidated Balance Sheets with changes in fair value reported in Benefits and other changes in policy reserves in the accompanying Consolidated Statements of Earnings. See a description of the fair value methodology used in Note D Fair Value of Financial Instruments.

Future Policy Benefits

The FPB is determined as the present value of future policy benefits and related claims expenses to be paid to or on behalf of the policyholder less the present value of future net premiums to be collected from policyholders. The FPB for traditional life policies and life-contingent immediate annuity policies (which includes life-contingent PRT annuities) are estimated using current assumptions that include discount rate, mortality and surrender/lapse terminations for traditional life insurance policies only, and expenses. The expense assumption is locked-in at contract issuance and not subsequently reviewed or updated. The initial assumptions are based on generally accepted actuarial methods and a combination of internal and industry experience. Policies are terminated through surrenders, lapses and maturities, where surrenders represent the voluntary terminations of policies by policyholders, lapses represent cancellations by us due to nonpayment of premiums, and maturities are determined by policy contract terms.

For traditional life policies and life-contingent immediate annuity policies, contracts are grouped into cohorts by product type, legal entity, and issue year, or acquisition year for cohorts established as of the F&G acquisition date, June 1, 2020. Life-contingent PRT annuities are grouped into cohorts by deal and legal entity. At contract inception, a net premium ratio ("NPR") is determined, which is calculated based on discounted future cash flows projected using best estimate assumptions and is capped at 100%, as net premiums cannot exceed gross premiums. Cohorts with NPRs less than 100% are not used to offset cohorts with NPRs greater than 100%.

The NPR is adjusted for changes in cash flow assumptions and for differences between actual and expected experience. We assess the appropriateness of all future cash flow assumptions, excluding the expense assumption, on a quarterly basis and perform an in-depth review of future cash flow assumptions in the third quarter of each year. Updates are made when evidence suggests a revision is necessary. Updates for actual experience, which includes actual cash flows and insurance in-force, are performed on a quarterly basis. These updated cash flows are used to calculate a revised NPR, which is used to derive an updated liability as of the beginning of the current reporting period, discounted at the original contract issuance date. The updated liability is compared with the carrying amount of the liability as of that same date before the revised NPR. The difference between these amounts is the remeasurement gain or loss, presented parenthetically within Benefits and other changes in policy reserves in the accompanying Consolidated Statements of Earnings. In subsequent periods, the revised NPR, which is capped at 100%, is used to measure the FPB, subject to future revisions. If the NPR is greater than 100%, and therefore capped at 100%, the liability is increased and expensed immediately to reflect the amount necessary for net premiums to equal gross premiums. As the liability assumptions are reviewed and updated, if deemed necessary, at least annually, if conditions improve whereby the contracts are no longer expected to have net premiums in excess of gross premiums, the improvements would be captured in the remeasurement process and reflected in the accompanying Consolidated Statements of Earnings in the period of improvement.

For traditional life policies and life-contingent immediate annuity policies (which includes life-contingent PRT annuities), the discount rate assumption is an equivalent single rate that is derived based on A-credit-rated fixed-income instruments with similar duration to the liability. We selected fixed-income instruments that have been A-rated by Bloomberg. In order to reflect the duration characteristics of the liability, we will use an implied forward yield curve and linear interpolation will be used for durations that have limited or no market observable points on the curve. The discount rate assumption is updated quarterly and used to remeasure the liability at the reporting date, with the resulting change reflected in the accompanying Consolidated Statements of Comprehensive Earnings.

Deferred Profit Liability

For life-contingent immediate annuity policies, gross premiums received in excess of net premiums are deferred at initial recognition as a DPL. Gross premiums are measured using assumptions consistent with those used in the measurement of the related liability for FPBs, including discount rate, mortality, and expenses.

The DPL is amortized and recognized as premium revenue with the amount of expected future benefit payments, discounted using the same discount rate determined and locked-in at contract issuance that is used in the measurement of the related FPB. Interest is accreted on the balance of the DPL using this same discount rate. We periodically review and update our estimates using the actual historical experience and updated cash flows for the DPL at the same time as the estimates of cash flows for the FPB. When cash flows are updated, the updated estimates are used to recalculate the initial DPL at contract issuance. The recalculated DPL as of the beginning of the current reporting period is compared to the carrying amount of the DPL as of the beginning of the current reporting period, with any differences recognized as a remeasurement gain or loss, presented parenthetically within Benefits and other changes in policy reserves in the accompanying Consolidated Statements of Earnings. The DPL is recorded as a component of the Future policy benefits in the accompanying Consolidated Balance Sheets.

Market Risk Benefits

MRBs are contracts or contract features that both provide protection to the contract holder from other-than-nominal capital market risk (equity, interest rate and foreign exchange risk) and expose the Company to other-than-nominal capital market risk. MRBs include certain contract features primarily on FIA products that provide minimum guarantees to policyholders, such as guaranteed minimum death benefit ("GMDB"), guaranteed minimum withdrawal benefit ("GMWB") riders and guaranteed minimum accumulation benefit ("GMAB") riders.

MRBs are measured at fair value using an attributed fee measurement approach where attributed fees are explicit rider charges collectible from the policyholder used to cover the excess benefits, which represent expected benefits in excess of the policyholder’s account value. At contract inception, an attributed fee ratio is calculated equal to rider charges over benefits paid in excess of the account value attributable to the MRBs. The attributed fee ratio remains static over the life of the MRB and is capped at 100%. Each period subsequent to contract inception, the attributed fee ratio is used to calculate the fair value of the MRBs using a risk neutral valuation method and is based on current net amounts at risk, market data, internal and industry experience, and other factors. The balances are computed using assumptions including mortality, full and partial surrender, GMWB utilization, risk-free rates including non-performance spread and risk margin, market value of options and economic scenarios. Policyholder behavior assumptions are reviewed at least annually, typically in the third quarter, for any revisions. MRBs can either be in an asset or liability position and are presented separately on the Consolidated Balance Sheets as the right of setoff criteria are not met. Changes in fair value are recognized in Market risk benefits gain (losses) in the accompanying Consolidated Statements of Earnings, except for the change in fair value due to a change in the instrument-specific credit risk,

which is recognized in the accompanying Consolidated Statements of Comprehensive Earnings. See a description of the fair value methodology used in Note D Fair Value of Financial Instruments and Note X Market Risk Benefits.

Reserve for Title Claim Losses

Our reserve for title claim losses includes known claims as well as losses we expect to incur, net of recoupments. Each known claim is reserved based on our review as to the estimated amount of the claim and the costs required to settle the claim. Reserves for claims, which are incurred but not reported are established at the time premium revenue is recognized based on historical loss experience and also take into consideration other factors, including industry trends, claim loss history, current legal environment, geographic considerations and the type of policy written.

The reserve for title claim losses also includes reserves for losses arising from closing and disbursement functions due to fraud or operational error.

If a loss is related to a policy issued by an independent agent, we may proceed against the independent agent pursuant to the terms of the agency agreement. In any event, we may proceed against third parties who are responsible for any loss under the title insurance policy under rights of subrogation.

Secured Trust Deposits

In the state of Illinois, a trust company is permitted to commingle and invest customers’ assets with its own assets, pending completion of real estate transactions. Accordingly, our Consolidated Balance Sheets reflect a secured trust deposit liability of $731 million and $862 million at December 31, 2023 and 2022, respectively, representing customers’ assets held by us and corresponding assets including cash and investments pledged as security for those trust balances.

Income Taxes

We recognize deferred tax assets and liabilities for temporary differences between the financial reporting basis and the tax basis of our assets and liabilities and expected benefits of utilizing net operating loss and credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The impact on deferred taxes of changes in tax rates and laws, if any, is applied to the years during which temporary differences are expected to be settled and reflected in the financial statements in the period enacted.

Reinsurance

Title

In our Title segment, in a limited number of situations, we limit our maximum loss exposure by reinsuring certain risks with other title insurers. We also earn a small amount of additional income, which is reflected in our direct premiums, by assuming reinsurance for certain risks of other title insurers. We cede a portion of certain policy and other liabilities under agent fidelity, excess of loss and case-by-case reinsurance agreements. Reinsurance agreements provide that in the event of a loss (including costs, attorneys’ fees and expenses) exceeding the retained amounts, the reinsurer is liable for the excess amount assumed. However, the ceding company remains primarily liable in the event the reinsurer does not meet its contractual obligations.

F&G

In our F&G segment, our insurance subsidiaries enter into reinsurance agreements with other companies in the normal course of business. For arrangements that meet the criteria to be accounted for as reinsurance, we present the amounts consistently and on a gross basis in our Consolidated Balance Sheets with the ceded reserves balance presented as a Reinsurance recoverable. Deferred gains will be included within Accounts payable and accrued expenses with the related accretion reflected within Life insurance premiums and other fees on the Consolidated Balance Sheets and Statements of Earnings, respectively. Deferred costs will be included within the Prepaid expense and other assets with the related amortization reflected within Other operating expenses in the Consolidated Balance Sheets and Statements of Earnings, respectively. Premium and expense are recorded net of reinsurance ceded.

For arrangements in which the underlying contracts do not include insurance risk or do not meet the criteria to be accounted for as reinsurance, the arrangements are accounted for as separate investment contracts or deposit accounting is applied, respectively. In both cases, we calculate a deposit asset based on the actual and expected cash flows associated to each arrangement and use the interest method to accrete the deposit asset using an effective yield based on changes in actual and expected cash flows. The deposit asset is presented within Reinsurance recoverable on the Consolidated Balance Sheets and the accretion of the deposit asset is presented within Benefits and other changes in policy reserves on the accompanying Consolidated Statements of Earnings.

For certain arrangements that are not accounted for as reinsurance, the right of offset is applied when there is a right of offset explicit in the reinsurance agreement. This results in the assets and liabilities associated with the arrangement presented on a net basis in the accompanying Consolidated Balance Sheets, and the related net investment income, investment gain/loss, and change in deposit asset are presented net on the accompanying Consolidated Statements of Earnings. F&G intends to apply the right of offset where there is a right of offset explicit in the reinsurance agreement. See Note O F&G Reinsurance for more details over F&G's reinsurance agreements.

Revenue Recognition

Refer to Note L Revenue Recognition for a description of our accounting for our various revenue streams.

Benefits and Other Changes in Policy Reserves

Benefit expenses for deferred annuities (FIAs and fixed rate annuities), IUL policies and funding agreements include interest credited, fixed interest, floating interest (specific to funding agreements) and/or index credits (specific to FIA and IUL policies), to contractholder account balances. Benefit claims in excess of contract account balances, net of reinsurance recoveries, are charged to expense in the period that they are earned by the policyholder based on their selected strategy or strategies. Other changes in policy reserves include the change in the fair value of the FIA embedded derivative.

Other changes in policy reserves also include the change in reserves for life insurance products. For traditional life and life-contingent immediate annuities (which includes PRT annuities with life contingencies), policy benefit claims are charged to expense in the period that the claims are incurred, net of reinsurance recoveries. Remeasurement gains or losses on the related FPB and DPL balances are presented parenthetically within Benefits and other changes in policy reserves in the accompanying Consolidated Statements of Earnings.

Stock-Based Compensation Plans

We account for stock-based compensation plans using the fair value method. Using the fair value method of accounting, compensation cost is measured based on the fair value of the award at the grant date using quoted market prices, and recognized over the service period.

Earnings Per Share

Basic earnings per share, as presented on the Consolidated Statement of Earnings, is computed by dividing net earnings available to common shareholders by the weighted average number of common shares outstanding during the period. In periods when earnings are positive, diluted earnings per share is calculated by dividing net earnings available to common shareholders by the weighted average number of common shares outstanding plus the impact of assumed conversions of potentially dilutive securities. For periods when we recognize a net loss, diluted earnings per share is equal to basic earnings per share as the impact of assumed conversions of potentially dilutive securities is considered to be antidilutive. We have granted certain stock options, shares of restricted stock, convertible debt instruments and certain other convertible share-based payments, which have been treated as common share equivalents for purposes of calculating diluted earnings per share for periods in which positive earnings have been reported.

The net earnings of F&G in our calculation of diluted earnings per share is adjusted for dilution related to certain F&G restricted stock granted to F&G's employees in accordance with ASC 260-10-55-20. We calculate the ratio of the shares of F&G we own to the total weighted average diluted shares of F&G outstanding and multiply the ratio by F&G's net earnings. The result is used for F&G's net earnings attributable to FNF included in our consolidated net earnings in the numerator for our diluted EPS calculation.

Restricted stock, options or other instruments, which provide the ability to acquire shares of our common stock that are antidilutive are excluded from the computation of diluted earnings per share. There were 1 million antidilutive instruments outstanding for the years ended December 31, 2023 and 2022.

Comprehensive Earnings (Loss)

We report Comprehensive earnings (loss) in accordance with GAAP on the Consolidated Statements of Comprehensive Earnings. Total comprehensive earnings are defined as all changes in shareholders' equity during a period, other than those resulting from investments by and distributions to shareholders. While total comprehensive earnings is the activity in a period and is largely driven by net earnings in that period, accumulated other comprehensive earnings or loss represents the cumulative balance of other comprehensive earnings, net of tax, as of the balance sheet date. Amounts reclassified to net earnings relate to the realized gains (losses) on our investments and other financial instruments, excluding investments in unconsolidated affiliates, and are included in Recognized gains and losses, net on the Consolidated Statements of Earnings.

Changes in the balance of Other comprehensive earnings (loss) for the years ended December 31, 2023, 2022 and 2021, by component are as follows:


	Unrealized gain (loss) on investments and other financial instruments, net (excluding investments in unconsolidated affiliates)		Change in current discount rate - future policy benefits		Change in instrument-specific credit risk - market risk benefits		Other		Total Accumulated Other Comprehensive Earnings (Loss)
	(In millions)
Balance January 1, 2021	$	1,625	$	(159)	$	(159)	$	24	$	1,331

Reclassification adjustments	(109)		33		3		(28)		(101)
Other comprehensive earnings	(499)		124		10		13		(352)
Balance December 31, 2021	1,017		(2)		(146)		9		878

Reclassification adjustments	(38)		204		16		(9)		173
Other comprehensive earnings	(4,783)		764		67		(4)		(3,956)
Non-controlling interest	33		—		1		1		35
Balance December 31, 2022	(3,771)		966		(62)		(3)		(2,870)
Reclassification adjustments	195		(51)		(7)		(11)		126
Other comprehensive earnings	961		(189)		(34)		21		759
Non-controlling interest	(178)		38		7		(1)		(134)
Balance December 31, 2023	$	(2,793)	$	764	$	(96)	$	6	$	(2,119)

Management Estimates

The preparation of these Consolidated Financial Statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Periodically, and at least annually, typically in the third quarter, we review the assumptions associated with reserves for policy benefits and product guarantees. During the third quarter of 2023 and for the year ended December 31, 2023, based on increases in interest rates and pricing changes, we updated certain FIA assumptions to calculate the fair value of the embedded derivative component within the contractholder funds and also aligned reserves to actual policyholder behavior. These changes resulted in an increase in total benefits and other changes in policy reserves of approximately $73 million.

During the fourth quarter of 2022, based on increases in interest rates and pricing changes during 2022, we updated certain FIA assumptions used to calculate the fair value of the embedded derivative component within contractholder funds and the fair value of market risk benefits. These changes, taken together, resulted in an increase in contractholder funds and market risk benefits of $99 million.

During the third quarter of 2021, we implemented a new actuarial valuation system. As a result, our third quarter 2021 assumption updates include model refinements and assumption updates resulting from the implementation. The system implementation and assumption review process that occurred in the third quarter of 2021, included refinements in the calculation of the fair value of the embedded derivative component of our FIAs within contractholder funds and updates to the surrender rates, GMWB utilization and earned rate assumptions to reflect our current and expected future experience. These changes, taken together, resulted in a decrease in contractholder funds and future policy reserves of $435 million. The majority of the changes represent one-time adjustments in the third quarter of 2021 related to the cumulative impact of the system implementation and are not expected to re-occur in the future.

Owned Distribution Investments

For the years ended December 31, 2023 and 2022, we expensed approximately $154 million and $74 million in commissions on sales through our funded owned distribution investments and their affiliates, respectively, with the acquisition expense deferred and amortized in Depreciation and amortization on the accompanying Consolidated Statements of Earnings.

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Summary of Unfunded Commitments

A summary of unfunded commitments by invested asset class is included below:


	December 31, 2023
Commitment Type	(In millions)
Unconsolidated VIEs:
Limited partnerships	$	1,735
Whole loans	600
Fixed maturity securities, ABS	244
Direct Lending	667
Other fixed maturity securities, AFS	14

Other assets	421
Commercial mortgage loans	72
Other invested assets	15
Committed amounts included in liabilities	—
Total	$	3,768

Investments - Investment Gains (Losses) Net (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Investments [Line Items]
Net realized (losses) gains on fixed maturity available-for-sale securities	$ (155)	$ (253)	$ 111
Realized (losses) gains on other invested assets	(25)	(68)	8
Change in allowance for expected credit losses	(36)	(41)	8
Realized (losses) gains on certain derivative instruments	(211)	(164)	456
Unrealized (losses) gains on certain derivative instruments	358	(693)	159
Change in fair value of reinsurance related embedded derivatives	(128)	352	34
Change in fair value of other derivatives and embedded derivatives	11	(10)	6
Realized (losses) gains on derivatives and embedded derivatives	30	(515)	655
Recognized gains and losses, net	(164)	(1,493)	334
Equity securities
Schedule of Investments [Line Items]
Net realized/unrealized (losses) gains on equity and preferred equity securities	23	(386)	(434)
Valuation (losses) gains	47	(387)	(436)
Preferred securities
Schedule of Investments [Line Items]
Net realized/unrealized (losses) gains on equity and preferred equity securities	(1)	(230)	(14)
Valuation (losses) gains	$ 80	$ (198)	$ 14

Investments - Schedule of Commercial Mortgage Loan, Gross of Valuation Allowance, By Property Type and Region (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule of Investments [Line Items]
Allowance for expected credit loss	$ (66)	$ (42)	$ (31)	$ (39)
Loans, net	5,336	4,554
Commercial Mortgage
Schedule of Investments [Line Items]
Amortized Cost	2,550	2,416
Allowance for expected credit loss	(12)	(10)	$ (6)	$ (2)
Loans, net	$ 2,538	$ 2,406
% of Total	100.00%	100.00%
East North Central \| Commercial Mortgage
Schedule of Investments [Line Items]
Amortized Cost	$ 151	$ 151
% of Total	6.00%	6.00%
East South Central \| Commercial Mortgage
Schedule of Investments [Line Items]
Amortized Cost	$ 75	$ 76
% of Total	3.00%	3.00%
Middle Atlantic \| Commercial Mortgage
Schedule of Investments [Line Items]
Amortized Cost	$ 354	$ 326
% of Total	14.00%	13.00%
Mountain \| Commercial Mortgage
Schedule of Investments [Line Items]
Amortized Cost	$ 352	$ 355
% of Total	14.00%	15.00%
New England \| Commercial Mortgage
Schedule of Investments [Line Items]
Amortized Cost	$ 168	$ 158
% of Total	6.00%	7.00%
Pacific \| Commercial Mortgage
Schedule of Investments [Line Items]
Amortized Cost	$ 766	$ 708
% of Total	30.00%	28.00%
South Atlantic \| Commercial Mortgage
Schedule of Investments [Line Items]
Amortized Cost	$ 563	$ 521
% of Total	22.00%	22.00%
West North Central \| Commercial Mortgage
Schedule of Investments [Line Items]
Amortized Cost	$ 4	$ 4
% of Total	0.00%	1.00%
West South Central \| Commercial Mortgage
Schedule of Investments [Line Items]
Amortized Cost	$ 117	$ 117
% of Total	5.00%	5.00%
Hotel \| Commercial Mortgage
Schedule of Investments [Line Items]
Amortized Cost	$ 18	$ 18
% of Total	1.00%	1.00%
Industrial \| Commercial Mortgage
Schedule of Investments [Line Items]
Amortized Cost	$ 616	$ 520
% of Total	24.00%	22.00%
Mixed Use \| Commercial Mortgage
Schedule of Investments [Line Items]
Amortized Cost	$ 11	$ 12
% of Total	0.00%	1.00%
Multifamily \| Commercial Mortgage
Schedule of Investments [Line Items]
Amortized Cost	$ 1,012	$ 1,013
% of Total	40.00%	42.00%
Office \| Commercial Mortgage
Schedule of Investments [Line Items]
Amortized Cost	$ 316	$ 330
% of Total	13.00%	14.00%
Retail \| Commercial Mortgage
Schedule of Investments [Line Items]
Amortized Cost	$ 102	$ 105
% of Total	4.00%	4.00%
Student Housing \| Commercial Mortgage
Schedule of Investments [Line Items]
Amortized Cost	$ 83	$ 83
% of Total	3.00%	3.00%
Other \| Commercial Mortgage
Schedule of Investments [Line Items]
Amortized Cost	$ 392	$ 335
% of Total	15.00%	13.00%

Supplemental Cash Flow Information (Tables)

12 Months Ended

Dec. 31, 2023

Supplemental Cash Flow Elements [Abstract]

Schedule of Supplemental Cash Flow information

The following supplemental cash flow information is provided with respect to certain cash payment and non-cash investing and financing activities.


	Year Ended December 31,
	2023		2022		2021

Cash paid for:	(In millions)
Interest	$	157	$	125	$	112
Income taxes	216		387		653
Deferred sales inducements	168		87		90
Non-cash investing and financing activities:

Distribution of 15% of the common stock of F&G	$	—	$	421	$	—
Investments received from pension risk transfer premiums	464		—		316
Change in proceeds of sales of investments available for sale receivable in period	32		96		(160)
Change in purchases of investments available for sale payable in period	20		(25)		18
Lease liabilities recognized in exchange for lease right-of-use assets	40		70		47
Remeasurement of lease liabilities	75		60		87
Liabilities assumed in connection with acquisitions
Fair value of assets acquired	304		266		85
Less: Total Purchase price	299		180		59
Liabilities and noncontrolling interests assumed	$	5	$	86	$	26

Supplemental Cash Flow Information


	Year Ended December 31,
	2023		2022		2021
	(In millions)
Cash paid during the year:
Interest paid	$	73	$	95	$	81
Income tax payments	213		459		609

Other Intangible Assets - DAC (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
DAC
DAC at beginning of period	$ 1,402	$ 775
Capitalization	916	726
Amortization	(186)	(99)	$ (46)
Reinsurance related adjustments	79
DAC at end of period	2,211	1,402	775
FIA
DAC
DAC at beginning of period	971	564
Capitalization	510	474
Amortization	(103)	(67)
Reinsurance related adjustments	0
DAC at end of period	1,378	971	564
Fixed Rate Annuities
DAC
DAC at beginning of period	83	38
Capitalization	177	56
Amortization	(51)	(11)
Reinsurance related adjustments	79
DAC at end of period	288	83	38
IUL's
DAC
DAC at beginning of period	348	173
Capitalization	229	196
Amortization	(32)	(21)
Reinsurance related adjustments	0
DAC at end of period	$ 545	$ 348	$ 173

- Definition

Amount of amortization expense (reversal of expense) for deferred policy acquisition costs.

+ References + Details

Fair Value of Financial Instruments - Carrying Value and Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Assets, Fair Value Disclosure [Abstract]
Investments in unconsolidated affiliates	$ 3,334	$ 2,642
Trade and notes receivables, net of allowance	442	467
Total Estimated Fair Value
Assets, Fair Value Disclosure [Abstract]
FHLB common stock	138	99
Commercial mortgage loans	2,253	2,083
Residential mortgage loans	2,545	1,892
Investments in unconsolidated affiliates	2,786	2,432
Policy loans	71	52
Other invested assets	59	109
Company-owned life insurance	397	363
Trade and notes receivables, net of allowance	442	467
Total	8,691	7,497
Liabilities, Fair Value Disclosure [Abstract]
Investment contracts, included in contractholder funds	40,229	34,464
Debt	3,568	2,776
Total	43,797	37,240
Carrying Amount
Assets, Fair Value Disclosure [Abstract]
FHLB common stock	138	99
Commercial mortgage loans	2,538	2,406
Residential mortgage loans	2,798	2,148
Investments in unconsolidated affiliates	2,786	2,432
Policy loans	71	52
Other invested assets	59	109
Company-owned life insurance	397	363
Trade and notes receivables, net of allowance	442	467
Total	9,229	8,076
Liabilities, Fair Value Disclosure [Abstract]
Investment contracts, included in contractholder funds	44,540	38,412
Debt	3,887	3,238
Total	48,427	41,650
Level 1
Assets, Fair Value Disclosure [Abstract]
FHLB common stock	0	0
Commercial mortgage loans	0	0
Residential mortgage loans	0	0
Investments in unconsolidated affiliates	0	0
Policy loans	0	0
Other invested assets	17	93
Company-owned life insurance	0	0
Trade and notes receivables, net of allowance	0	0
Total	17	93
Liabilities, Fair Value Disclosure [Abstract]
Investment contracts, included in contractholder funds	0	0
Debt	0	0
Total	0	0
Level 2
Assets, Fair Value Disclosure [Abstract]
FHLB common stock	138	99
Commercial mortgage loans	0	0
Residential mortgage loans	0	0
Investments in unconsolidated affiliates	0	0
Policy loans	0	0
Other invested assets	0	0
Company-owned life insurance	0	0
Trade and notes receivables, net of allowance	0	0
Total	138	99
Liabilities, Fair Value Disclosure [Abstract]
Investment contracts, included in contractholder funds	0	0
Debt	3,568	2,776
Total	3,568	2,776
Level 3
Assets, Fair Value Disclosure [Abstract]
FHLB common stock	0	0
Commercial mortgage loans	2,253	2,083
Residential mortgage loans	2,545	1,892
Investments in unconsolidated affiliates	7	5
Policy loans	71	52
Other invested assets	0	16
Company-owned life insurance	397	363
Trade and notes receivables, net of allowance	442	467
Total	5,715	4,878
Liabilities, Fair Value Disclosure [Abstract]
Investment contracts, included in contractholder funds	40,229	34,464
Debt	0	0
Total	40,229	34,464
NAV
Assets, Fair Value Disclosure [Abstract]
Investments in unconsolidated affiliates	2,779	2,427
Other invested assets	42
Total	$ 2,821	$ 2,427

Leases - Future Payments Under Operating Lease Arrangements (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
2024	$ 142
2025	106
2026	76
2027	46
2028	29
Thereafter	32
Total operating lease payments, undiscounted	431
Less: present value discount	37
Lease liability, at present value	$ 394	$ 418

Investments - Credit Quality of RMLs (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Allowance for expected credit loss	$ (66)	$ (42)	$ (31)	$ (39)
Loans, net	5,336	4,554
Residential Mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
Amortized Cost	2,852	2,180
Allowance for expected credit loss	(54)	(32)	$ (25)	$ (37)
Loans, net	$ 2,798	$ 2,148
% of Total	100.00%	100.00%
Allowance for expected loan loss, % of Total	0.00%	0.00%
Total residential mortgage loans, % of Total	100.00%	100.00%
Residential Mortgage \| Performing
Financing Receivable, Credit Quality Indicator [Line Items]
Amortized Cost	$ 2,795	$ 2,118
% of Total	98.00%	97.00%
Residential Mortgage \| Non-performing
Financing Receivable, Credit Quality Indicator [Line Items]
Amortized Cost	$ 57	$ 62
% of Total	2.00%	3.00%

Business and Summary of Significant Accounting Policies - Goodwill, Intangible Assets and Property and Equipment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill [Line Items]
Impairment related to property and equipment		$ 2,000,000
Minimum \| Buildings
Goodwill [Line Items]
Property and equipment, useful life (in years)	20 years
Minimum \| Furniture Fixture and Equipment
Goodwill [Line Items]
Property and equipment, useful life (in years)	3 years
Maximum \| Buildings
Goodwill [Line Items]
Property and equipment, useful life (in years)	30 years
Maximum \| Furniture Fixture and Equipment
Goodwill [Line Items]
Property and equipment, useful life (in years)	25 years
Title Plant
Goodwill [Line Items]
Impairment of indefinite-lived intangible asset	$ 0	$ 1,000,000	$ 0
Customer relationships
Goodwill [Line Items]
Finite-lived intangible asset, useful life (years)	10 years
Trademarks, tradenames, and other
Goodwill [Line Items]
Finite-lived intangible asset, useful life (years)	10 years
Software \| Minimum
Goodwill [Line Items]
Acquired finite-lived intangible assets, useful life (years)	5 years
Software \| Maximum
Goodwill [Line Items]
Acquired finite-lived intangible assets, useful life (years)	10 years

Regulation and Equity - Statutory Income and Net Capital (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Corbeau Re
Statutory Accounting Practices [Line Items]
Statutory capital and surplus	$ 171
IOWA
Statutory Accounting Practices [Line Items]
Statutory capital and surplus	2,009	$ 1,877
IOWA \| F&G
Statutory Accounting Practices [Line Items]
Statutory net income (loss)	(462)	(243)	$ 351
New York
Statutory Accounting Practices [Line Items]
Statutory capital and surplus	86	82
New York \| F&G
Statutory Accounting Practices [Line Items]
Statutory net income (loss)	5	(15)	4
VERMONT \| Raven Re
Statutory Accounting Practices [Line Items]
Statutory capital and surplus	140	121
VERMONT \| Corbeau Re
Statutory Accounting Practices [Line Items]
Statutory capital and surplus		0
VERMONT \| F&G \| Raven Re
Statutory Accounting Practices [Line Items]
Statutory net income (loss)	60	(111)	3
VERMONT \| F&G \| Corbeau Re
Statutory Accounting Practices [Line Items]
Statutory net income (loss)	(644)	0	0
CAYMAN ISLANDS
Statutory Accounting Practices [Line Items]
Statutory net income (loss)	384	(299)	99
Statutory capital and surplus	114	(126)
BERMUDA
Statutory Accounting Practices [Line Items]
Statutory net income (loss)	151	(339)	$ 94
Statutory capital and surplus	$ 11	$ (138)

Schedule II - Condensed Financial Information - Balance Sheets (Parent Company) (Parenthetical) (Details) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Condensed Balance Sheet Statements, Captions [Line Items]
Common stock, par value per share (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	600,000,000	600,000,000
Common stock, shares, outstanding (in shares)	273,251,449	272,309,890
Common stock, shares, issued (in shares)	329,185,916	327,757,349
Preferred stock, par or stated value per share (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Treasury stock (in shares)	55,934,467	55,447,459
Parent Company
Condensed Balance Sheet Statements, Captions [Line Items]
Common stock, par value per share (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	600,000,000	600,000,000
Common stock, shares, outstanding (in shares)	273,366,235	279,064,457
Common stock, shares, issued (in shares)	329,185,916	327,757,349
Preferred stock, par or stated value per share (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Treasury stock (in shares)	55,819,681	48,692,892

Goodwill

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

A summary of the changes in Goodwill consists of the following:


	Title		F&G		Corporate and Other		Total
	(In millions)
Balance, December 31, 2021	$	2,517	$	1,749	$	266	$	4,532
Goodwill associated with acquisitions	103		—		—		103

Balance, December 31, 2022	$	2,620	$	1,749	$	266	$	4,635
Goodwill associated with acquisitions	168		—		27		195




Balance, December 31, 2023	$	2,788	$	1,749	$	293	$	4,830

Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
Goodwill (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 4,635	$ 4,532
Goodwill associated with acquisitions	195	103
Goodwill, ending balance	4,830	4,635
Title \| Operating Segments
Goodwill [Roll Forward]
Goodwill, beginning balance	2,620	2,517
Goodwill associated with acquisitions	168	103
Goodwill, ending balance	2,788	2,620
F&G \| Operating Segments
Goodwill [Roll Forward]
Goodwill, beginning balance	1,749	1,749
Goodwill associated with acquisitions	0	0
Goodwill, ending balance	1,749	1,749
Corporate and Other
Goodwill [Roll Forward]
Goodwill, beginning balance	266	266
Goodwill associated with acquisitions	27	0
Goodwill, ending balance	$ 293	$ 266

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Schedule of Stock Options Transactions

FNF stock option transactions under the Omnibus Plan for 2023, 2022, and 2021 are as follows:


	Options	Weighted Average Exercise Price		Exercisable
Balance, January 1, 2021	2,321,413	$	24.24	2,321,413
Exercised	(1,325,300)	23.28
Balance, December 31, 2021	996,113	$	25.53	996,113
Exercised	(996,113)	25.53

Balance, December 31, 2022	—	$	—	—

Exercised	—	—

Balance, December 31, 2023	—	$	—	—

FNF stock option transactions under the F&G Omnibus Plan for 2023, 2022, and 2021 are as follows:


	Options	Weighted Average Exercise Price		Exercisable
Balance January 1, 2021	2,002,690	$	36.14	1,021,671

Exercised	(474,754)	36.68
Canceled	—	—
Balance, December 31, 2021	1,527,936	$	35.97	1,072,584
Exercised	(352,614)	38.79
Canceled	(2,715)	28.00
Balance, December 31, 2022	1,172,607	$	35.15	1,172,607

Exercised	(502,414)	30.31
Canceled	(26,570)	38.07
Balance, December 31, 2023	643,623	$	38.80	643,623

Schedule of Restricted Stock Transactions

FNF restricted stock transactions under the Omnibus Plan in 2023, 2022, and 2021 are as follows:



	Shares	Weighted Average Grant Date Fair Value
Balance, December 31, 2020	1,716,555	$	36.26
Granted	772,189	48.27

Canceled	(7,577)	37.20
Vested	(841,941)	36.15
Balance, December 31, 2021	1,639,226	$	41.97
Granted	994,548	40.83

Vested	(792,230)	41.44
Balance, December 31, 2022	1,841,544	$	41.59
Granted	966,093	44.44
Canceled	(23,975)	41.42
Vested	(908,267)	40.26
Balance, December 31, 2023	1,875,395	$	43.69

FNF restricted stock transactions under the F&G Omnibus Plan in 2023, 2022, 2021 are as follows:


	Shares	Weighted Average Grant Date Fair Value
Balance, January 1, 2021	449,870	$	34.11
Granted	311,081	48.28
Canceled	(12,437)	33.40
Vested	(29,873)	34.59
Balance, December 31, 2021	718,641	$	40.24
Granted	—	—
Canceled	(78,551)	37.79
Vested	(138,542)	34.11
Balance, December 31, 2022	501,548	$	42.31
Granted	—	—
Canceled	(15,965)	45.63
Vested	(304,104)	42.87
Balance, December 31, 2023	181,479	$	41.08

Schedule of Stock Options Outstanding and Exercisable

The following table summarizes information related to stock options outstanding and exercisable as of December 31, 2023:


	Options Outstanding						Options Exercisable
		Weighted						Weighted
		Average	Weighted					Average	Weighted
		Remaining	Average					Remaining	Average
Range of	Number of	Contractual	Exercise		Intrinsic		Number of	Contractual	Exercise		Intrinsic
Exercise Prices	Options	Life	Price		Value		Options	Life	Price		Value
		(In years)			(In millions)			(In years)			(In millions)
$0.00 - $28.00	17,409	2.60	$	28.00	$	—	17,409	2.60	$	28.00	$	—
$28.01 - $39.10	626,214	1.76	39.10		7		626,214	1.76	39.10		7
	643,623				$	7	643,623				$	7

Business and Summary of Significant Accounting Policies - Trade and Notes Receivable (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue Recognition, Milestone Method [Line Items]
Insurance commissions as percentage of agent premiums	76.90%	77.10%	76.70%
Premium due from agents, net of accrued sales commissions	$ 35	$ 74
Minimum
Revenue Recognition, Milestone Method [Line Items]
Accrual for agency premiums reported within three months, percent	66.00%
Accrual for agency premiums reported within next three months, percent	6.00%
Accrual for agency premiums, time lag period	7 months
Maximum
Revenue Recognition, Milestone Method [Line Items]
Accrual for agency premiums reported within three months, percent	91.00%
Accrual for agency premiums reported within next three months, percent	17.00%
Accrual for agency premiums, time lag period	15 months

Investments - Schedule of Residential Mortgage Loan by State (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Allowance for expected credit loss	$ (66)	$ (42)	$ (31)	$ (39)
Loans, net	5,336	4,554
Residential Mortgage
Loans	2,852	2,180
Allowance for expected credit loss	$ (54)	$ (32)	$ (25)	$ (37)
% of Total	100.00%	100.00%
Loans, net	$ 2,798	$ 2,148
Florida \| Residential Mortgage
Loans	$ 163	$ 324
% of Total	6.00%	15.00%
Texas \| Residential Mortgage
Loans	$ 129	$ 215
% of Total	5.00%	10.00%
New Jersey \| Residential Mortgage
Loans	$ 129	$ 172
% of Total	5.00%	8.00%
Pennsylvania \| Residential Mortgage
Loans		$ 153
% of Total		7.00%
California \| Residential Mortgage
Loans		$ 139
% of Total		6.00%
New York \| Residential Mortgage
Loans		$ 138
% of Total		6.00%
Georgia \| Residential Mortgage
Loans		$ 125
% of Total		6.00%
All other states \| Residential Mortgage
Loans	$ 2,431	$ 914
% of Total	85.00%	42.00%

F&G Reinsurance (Tables)

12 Months Ended

Dec. 31, 2023

Reinsurance Disclosures [Abstract]

Effect of Reinsurance on Premiums Earned, Benefits Incurred and Reserve Changes

The effects of reinsurance on net premiums earned and net benefits incurred (benefits paid and reserve changes) for the years ended December 31, 2023, 2022, and 2021 respectively, were as follows (in millions):


	Year Ended December 31,
	2023				2022				2021
	Net Premiums Earned		Net Benefits Incurred		Net Premiums Earned		Net Benefits Incurred		Net Premiums Earned		Net Benefits Incurred
Direct	$	2,112	$	3,728	$	1,522	$	3,640	$	1,314	$	3,070

Ceded	(105)		(175)		(128)		(2,514)		(137)		(1,138)
Net	$	2,007	$	3,553	$	1,394	$	1,126	$	1,177	$	1,932

Schedule of Reinsurance Recoverable

The following summarizes our reinsurance recoverable (in millions):

Parent Company/
Principal Reinsurers

Reinsurance Recoverable (a)

Agreement Type

Products
Covered

Accounting

December 31, 2023

December 31, 2022

Aspida Life Re Ltd

6,128

3,121

Coinsurance Funds Withheld

Certain MYGA (b)

Deposit

Wilton Reassurance Company

1,092

1,231

Coinsurance

Block of traditional, IUL and UL (c)

Reinsurance

Somerset Reinsurance Ltd

716

570

Coinsurance Funds Withheld

Certain MYGA (b) and DA

Deposit

Everlake Life Insurance Company

509

—

Coinsurance (d)

Certain MYGA (b) (d)

Deposit

Other (e)

536

505

Reinsurance recoverable, gross of allowance for credit losses

8,981

5,427

Allowance for expected credit loss

(21)

(10)

Reinsurance recoverable, net of allowance for credit losses

8,960

5,417

(a) Reinsurance recoverables do not include unearned ceded premiums that would be recovered in the event of early termination of certain traditional life policies.

(b) As of the years ended December 31, 2023 and 2022, the combined quota share flow reinsurance amongst all reinsurers was 90% and 75%, respectively.

(c) Also includes certain FGL Insurance life insurance policies that are subject to redundant reserves, reported on a statutory basis, under Regulation XXX and Guideline AXXX.

(d) Reinsurance recoverable is collateralized by assets placed in a statutory comfort trust by the reinsurer and maintained for our sole benefit.

(e) Represents all other reinsurers, with no single reinsurer having a carrying value in excess of 5% of total reinsurance recoverable.

Reinsurance Recoverable, Expected Credit Loss Reserves

The expected credit loss reserves were as follows (in millions):


	Years ended
	December 31, 2023		December 31, 2022
Balance at Beginning of Period	$	(10)	$	(20)
Provision for losses	(11)		10
Charge offs	—		—
Balance at End of Period	$	(21)	$	(10)

Schedule Of Credit Ratings Of Principal Reinsurers

The following table presents financial strength ratings as of December 31, 2023:

Parent Company/Principal Reinsurers

Financial Strength Rating

AM Best

S&P

Fitch

Moody's

Aspida Life Re Ltd

A-

not rated

Wilton Re

A+

not rated

Somerset Reinsurance Ltd

A-

BBB+

not rated

Everlake

A+

not rated

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Audit Information [Abstract]
Auditor Firm ID	42
Auditor Name	Ernst & Young LLP
Auditor Location	Jacksonville, Florida

Supplemental Cash Flow Information - Schedule (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash paid for:
Interest	$ 157	$ 125	$ 112
Income taxes	216	387	653
Deferred sales inducements	168	87	90
Non-cash investing and financing activities:
Distribution of 15% of the common stock of F&G	0	421	0
Investments received from pension risk transfer premiums	464	0	316
Change in proceeds of sales of investments available for sale receivable in period	32	96	(160)
Change in purchases of investments available for sale payable in period	20	(25)	18
Lease liabilities recognized in exchange for lease right-of-use assets	40	70	47
Remeasurement of lease liabilities	75	60	87
Liabilities assumed in connection with acquisitions (excluding F&G)
Fair value of assets acquired	304	266	85
Less: Total Purchase price	299	180	59
Liabilities and noncontrolling interests assumed	$ 5	$ 86	$ 26

Income Taxes - Tax Expense Allocation (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Net earnings from continuing operations

$ 192

$ 439

$ 813

Other comprehensive earnings (loss):

Unrealized gain (loss) on investments and other financial instruments

275

(1,198)

(160)

Unrealized gain (loss) on foreign currency translation and cash flow hedging

(4)

^[1]

Changes in current discount rate - future policy benefits

^[2]

(50)

203

Changes in instrument - specific credit risk - market risk benefits

^[3]

(9)

F&G 15% Distribution

(35)

Minimum pension liability adjustment

(2)

Total income tax expense (benefit) allocated to other comprehensive earnings

183

(970)

(126)

Total income taxes

$ 375

$ (531)

$ 687

Dividend to shareholders, pro rata percentage of common stock

15.00%

[1]	Net of income tax expense (benefit) of $2 million and $(4) million, for the years ended December 31, 2023 and 2022, respectively.
[2]	Net of income tax (benefit) expense of $(50) million, $203 million and $33 million for the years ended December 31, 2023, 2021 and 2021, respectively
[3]	Net of income tax (benefit) expense of $(9) million, $18 million and $3 million for the years ended December 31, 2023, 2021 and 2021, respectively.

Recent Accounting Pronouncements (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Changes and Error Corrections [Abstract]

Impact of Adoption of ASU on P&L

The following table summarizes the balance of and changes in the FPB on January 1, 2021, due to adoption of ASU 2018-12:


	Immediate annuities		Traditional Life		Total (3)

Balance, December 31, 2020	$	1,861	$	2,144	$	4,005


Cumulative effect of retrospective adoption (1)	201		(279)		(78)
Effect of remeasurement of liability at current discount rate (2)	113		88		201
Balance, January 1, 2021	$	2,175	$	1,953	$	4,128
Less: Reinsurance Recoverable	322		793		1,115
Balance, January 1, 2021, net of reinsurance	$	1,853	$	1,160	$	3,013

(1) Adjustments for the cumulative effect of adoption of the new measurement guidance under the full retrospective method for contract issue years from the FNF Acquisition Date through December 31, 2020, net of the effects of any change in the DPL.
(2) The remeasurement of the liability at the current discount rate is reflected as an adjustment to opening AOCI upon the adoption of ASU 2018-12.
(3) PRT was not written as of the transition date, January 1, 2021, and as a result is not presented in the transition adjustment roll forward.

The following table summarizes the balance of and changes in VOBA on January 1, 2021 due to adoption of ASU 2018-12 (in millions):


	FIA		Fixed rate annuities		Immediate annuities		Universal Life		Traditional Life		Total
Balance, December 31, 2020	$	1,208	$	15	$	86	$	139	$	18	$	1,466
Adjustment for reversal of AOCI adjustments (1)	208		24		—		29		(29)		232
Cumulative effect of retrospective adoption (2)	(14)		7		(5)		(9)		(1)		(22)
Transition opening balance adjustment (3)	69		2		145		5		43		264
Balance, January 1, 2021	$	1,471	$	48	$	226	$	164	$	31	$	1,940

(1) Prior period "shadow" adjustments in AOCI have been reversed upon the adoption of ASU 2018-12 from opening AOCI.
(2) Adjustments for the cumulative effect of adoption of the simplified amortization methodology under the full retrospective method from the FNF Acquisition Date through December 31, 2020.
(3) Adjustments for the change in VOBA due to the full retrospective adjustment of carrying amounts of acquired contracts as of the FNF Acquisition Date due to the adoption of ASU 2018-12.

The following table summarizes the balance of and changes in DAC on January 1, 2021, due to adoption of ASU 2018-12 (in millions):


	FIA		Fixed rate annuities		Universal Life		Total
Balance, December 31, 2020	$	167	$	14	$	41	$	222
Adjustment for reversal of AOCI adjustments (1)	15		2		8		25
Cumulative effect of retrospective adoption (2)	(1)		—		(1)		(2)
Balance, January 1, 2021	$	181	$	16	$	48	$	245

(1) Prior period "shadow" adjustments in AOCI have been reversed upon the adoption of ASU 2018-12 from opening AOCI.
(2) Adjustments for the cumulative effect of adoption of the simplified amortization methodology under the full retrospective method for contract issue years from the FNF Acquisition Date through December 31, 2020.

The following table summarizes the balance of and changes in DSI on January 1, 2021, due to adoption of ASU 2018-12 (in millions):


	FIA		Total
Balance, December 31, 2020	$	36	$	36
Adjustment for reversal of AOCI adjustments (1)	5		5
Cumulative effect of retrospective adoption (2)	4		4
Balance, January 1, 2021	$	45	$	45

(1) Prior period "shadow" adjustments in AOCI have been reversed upon the adoption of ASU 2018-12 from opening AOCI.
(2) Adjustments for the cumulative effect of adoption of the simplified amortization methodology under the full retrospective method for contract issue years from the FNF Acquisition Date through December 31, 2020.

The following table summarizes the balance of and changes in URL on January 1, 2021, due to adoption of ASU 2018-12:


	Universal Life		Total
Balance, December 31, 2020	$	2	$	2
Adjustment for reversal of AOCI adjustments (1)	25		25
Cumulative effect of retrospective adoption (2)	2		2
Balance, January 1, 2021	$	29	$	29

(1) Prior period "shadow" adjustments in AOCI have been reversed upon the adoption of ASU 2018-12 from opening AOCI.
(2) Adjustments for the cumulative effect of adoption of the simplified amortization methodology under the full retrospective method for contract issue years from the FNF Acquisition Date through December 31, 2020.

The following table summarizes the balance of and changes in the asset and liability position of MRBs on January 1, 2021, due to adoption of ASU 2018-12:


	FIA		Fixed rate annuities		Total
Balance, December 31, 2020 - Carrying amount of MRBs under prior guidance (1)	$	531	$	—	$	531
Adjustment for reversal of AOCI adjustments (2)	(116)		—		(116)
Cumulative effect of the changes in the instrument-specific credit risk between the original contract issuance date and the transition date (3)	159		—		159
Remaining cumulative difference (exclusive of the instrument specific credit risk change) between December 31, 2020 carrying amount and fair value measurement for the MRBs (4)	(96)		1		(95)
Balance, January 1, 2021 - Market risk benefits at fair value	$	478	$	1	$	479
Less: Reinsurance Recoverable	—		—		—
Balance, January 1, 2021, net of reinsurance	$	478	$	1	$	479

(1) The pre-adoption balance as of December 31, 2020 balance for MRBs represents the contract features that meet the definition of an MRB under ASU 2018-12 and the related carrying amount of those features prior to the ASU. Those contract features were previously accounted for at fair value as a derivative or embedded derivative under ASC 815 or as an additional liability for annuitization benefits or death or other insurance benefits under ASC 944.
(2) Prior period "shadow" adjustments in AOCI have been reversed upon the adoption of ASU 2018-12 from opening AOCI.
(3) The cumulative effective of the change in instrument-specific credit risk between the FNF Acquisition Date or, if later, the original contract issuance date and the transition date to ASU 2018-12, which is recorded as an adjustment to opening AOCI.
(4) The cumulative difference (exclusive of instrument-specific credit risk change) between the pre-adoption carrying amount and the fair value measurement for MRBs is recorded as an adjustment to opening retained earnings.

Effect of Transition Adjustments On Equity

The following table presents the effect of transition adjustments on Equity on January 1, 2021 due to the adoption of ASU 2018-12 (in millions):


	January 1, 2021
	Retained Earnings		AOCI
Contractholder funds	$	101	$	115
MRB	30		(160)
FPB	(14)		(159)
VOBA	(21)		233
DAC	(1)		5
Increase to Equity, gross of tax	$	95	$	34
Tax impact	20		9
Increase to Equity, net of tax	$	75	$	25

Business and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Principles of Consolidation and Basis of Presentation	Principles of Consolidation and Basis of Presentation The accompanying Consolidated Financial Statements are prepared in accordance with generally accepted accounting principles in the United States ("GAAP") and include our accounts as well as our wholly-owned and majority-owned subsidiaries. All intercompany profits, transactions and balances have been eliminated. In our title segment, our investments in unconsolidated subsidiaries and affiliates are accounted for using the equity method until such time that they become wholly or majority-owned. Earnings attributable to noncontrolling interests recorded on the Consolidated Statements of Earnings represents the portion of a majority-owned subsidiary's net earnings or loss that is owned by noncontrolling shareholders of the subsidiary. Noncontrolling interest recorded on the Consolidated Balance Sheets represents the portion of equity in a consolidated subsidiary owned by noncontrolling shareholders. We are involved in certain entities that are considered variable interest entities ("VIEs") as defined under GAAP. Our involvement with VIEs is primarily to invest in assets that allow us to gain exposure to a broadly diversified portfolio of asset classes. A VIE is an entity that does not have sufficient equity to finance its own activities without additional financial support, where investors lack certain characteristics of a controlling financial interest, or where the entity is structured with non-substantive voting rights. We assess our relationships with VIEs to evaluate if we are the primary beneficiary of the VIE. If we determine we are the primary beneficiary of a VIE, we consolidate the assets and liabilities of the VIE in our Consolidated Financial Statements. See Note E Investments for additional information on our investments in VIEs.
Investments	Investments Fixed Maturity Securities Available-for-Sale Fixed maturity securities are purchased to support our investment strategies, which are developed based on factors including rate of return, maturity, credit risk, duration, tax considerations and regulatory requirements. Our investments in fixed maturity securities have been designated as available-for-sale ("AFS") and are carried at fair value, net of allowance for expected credit losses, with unrealized gains and losses included within AOCI, net of deferred income taxes. Fair values for fixed maturity securities are principally a function of current market conditions and are primarily valued based on quoted prices in markets that are not active or model inputs that are observable or unobservable. We recognize investment income on fixed maturities based on the effective interest method, which results in the recognition of a constant rate of return on the investment equal to the prevailing rate at the time of purchase or at the time of subsequent adjustments of book value. In our title segment, realized gains and losses on sales of our fixed maturity securities are determined on the basis of the cost of the specific investments sold and are credited or charged to income on a trade date basis. Our F&G segment uses first-in first-out cost basis and generally records security transactions on a trade date basis except for private placements, which are recorded on a settlement date basis. Realized gains and losses on sales of fixed maturity securities are reported within Recognized gains and losses, net in the accompanying Consolidated Statements of Earnings. Fixed maturity securities AFS are subject to an allowance for credit loss and changes in the allowance are reported in net earnings as a component of Recognized gains and losses, net. For details on our policy around allowance for expected credit losses on AFS securities, refer to Note E Investments. Preferred and Equity Securities Equity and preferred securities held are carried at fair value as of the balance sheet dates. The fair values of our equity and preferred securities are based on quoted prices in active markets, or are valued based on quoted prices in markets that are not active or model inputs that are observable or unobservable or based on net asset value ("NAV"). Changes in fair value and realized gains and losses on sales of our preferred and equity securities are reported within Recognized gains and losses, net in the accompanying Consolidated Statements of Earnings. Recognized gains and losses on sales of our preferred and equity securities are credited or charged to earnings on a trade date basis, unless the security is a private placement in which case settlement date basis is used. Interest and dividend income from these investments is reported in Interest and investment income in the accompanying Consolidated Statements of Earnings.
Derivative Financial Instruments	Derivative Financial Instruments In our F&G segment, we hedge certain portions of our exposure to product related equity market risk by entering into derivative transactions (primarily call options). We utilize interest rate swaps to reduce market risks from interest rate changes on our earnings associated with our floating rate investments. All such derivative instruments are recognized as either assets or liabilities in the accompanying Consolidated Balance Sheets at fair value. The changes in fair value are reported within Recognized gains and losses, net in the accompanying Consolidated Statements of Earnings. We purchase financial instruments and issue products that may contain embedded derivative instruments. If it is determined that the embedded derivative possesses economic characteristics that are not clearly and closely related to the economic characteristics of the host contract, and a separate instrument with the same terms would qualify as a derivative instrument, the embedded derivative is bifurcated from the host contract for measurement purposes. The Company’s embedded derivative associated to our FIA crediting rates policies is carried at fair value, which is determined through a combination of market observable inputs such as market value of option and interest swap rates and unobservable inputs such as the mortality multiplier, surrender and withdrawal rates and non-performance spread. The changes in fair value of the FIA embedded derivative are reported within Benefits and other changes in policy reserves in the accompanying Consolidated Statements of Earnings. Reinsurance Related Embedded Derivatives As discussed in Note O F&G Reinsurance, F&G entered into reinsurance agreements to cede a quota share of certain deferred annuity, multi-year guaranteed annuities ("MYGA") and deferred annuity"), respectively, GAAP and statutory reserves on a coinsurance funds withheld basis, net of applicable existing reinsurance. Funds withheld arrangements allow the Company to retain legal ownership of assets backing reinsurance arrangements until they are earned by the reinsurer while passing credit risk associated with the assets in the funds withheld account to the reinsurer. These arrangements create embedded derivatives considered to be total return swaps with contractual returns that are attributable to the assets and liabilities associated with the reinsurance arrangement. The fair value of the total return swap is based on the change in fair value of the underlying assets held in the funds withheld portfolio. Investment results for the assets that support the coinsurance with funds withheld reinsurance arrangement, including gains and losses from sales, are passed directly to the reinsurer pursuant to contractual terms of the reinsurance arrangement. These total return swaps are not clearly and closely related to the underlying reinsurance contract and thus require bifurcation. The reinsurance related embedded derivative is reported in Prepaid expenses and other assets if in a net gain position, or Accounts payable and accrued liabilities, if in a net loss position on the Consolidated Balance Sheets and the related gains or losses are reported in Recognized gains (losses) on the Consolidated Statements of Earnings.
Mortgage Loans	Mortgage Loans Our investment in mortgage loans consists of commercial and residential mortgage loans on real estate, which are reported at amortized cost, less allowance for expected credit losses. For details on our policy around allowance for expected credit losses on mortgage loans, refer to Note E Investments. Commercial mortgage loans ("CMLs") are continuously monitored by reviewing appraisals, operating statements, rent revenues, annual inspection reports, loan specific credit quality, property characteristics, market trends and other factors. CMLs are rated for the purpose of quantifying the level of risk. Loans are placed on a watch list when the debt service coverage ("DSC") ratio falls below certain thresholds and the loan-to-value ("LTV") ratios exceeds certain thresholds. Loans on the watchlist are closely monitored for collateral deficiency or other credit events that may lead to a potential loss of principal or interest. We define delinquent mortgage loans as 30 days past due, consistent with industry practice. Residential mortgage loans ("RMLs") have a primary credit quality indicator of either a performing or nonperforming loan. We define nonperforming RMLs as those that are 90 or more days past due and/or in nonaccrual status, which is assessed monthly. Generally, nonperforming RMLs have a higher risk of experiencing a credit loss. We consider residential mortgage loans that are 90 or more days past due and have an LTV greater than 90% to be foreclosure probable. Interest on loans is recognized on an accrual basis at the applicable interest rate on the principal amount outstanding. Loan origination fees and direct costs, as well as premiums and discounts, are amortized as level yield adjustments over the respective loan terms. Unamortized net fees or costs are recognized upon early repayment of the loans. Loan commitment fees are deferred and amortized on an effective yield basis over the term of the loan. Interest income, amortization of premiums and discounts, prepayment fees, and loan commitment fees are reported in Interest and investment income in the accompanying Consolidated Statements of Earnings.
Short-term Investments	Short-term investments Short-term investments consist of financial instruments with an original maturity of one year or less when purchased and include short-term fixed maturity securities and money market instruments, which are carried at fair value, and short-term loans, which are carried at amortized cost, which approximates fair value.
Investments in Unconsolidated Affiliates	Investments in Unconsolidated Affiliates In our F&G segment, we account for our investments in unconsolidated affiliates using the equity method or by electing the fair value option. Initial investments are recorded at cost. For investments subsequently measured using the equity method (primarily limited partnerships), adjustments to the carrying amount reflect our pro rata ownership percentage of the operating results as indicated by net asset value (“NAV”) in the unconsolidated affiliates’ financial statements, which we may adjust if we determine NAV is not calculated consistent with investment company fair value principles. Distributions received from investments measured using the equity method are recorded as a decrease in the investment balance. For investments subsequently measured using the fair value option, adjustments to the carrying amount reflecting the change in fair value of the investment are reported along with realized gains and losses on sales of investments in unconsolidated affiliates in Recognized gains and (losses), net in the accompanying Consolidated Statements of Earnings. Distributions received from investments measured using the fair value option is reported within Interest and investment income in the accompanying Consolidated Statements of Earnings. Recognition of income and adjustments to the carrying amount can be delayed due to the availability of the related financial statements, which are obtained from the general partner or managing member generally on a one to three-month delay. For investments using the equity method, management inquires quarterly with the general partner or managing member to determine whether any credit or other market events have occurred since prior quarter financial statements to ensure any material events are properly included in current quarter valuation and investment income. In our title segment, we account for our investments in unconsolidated affiliates using the equity method of accounting and earnings on our investments in unconsolidated affiliates are recorded within Equity in earnings of unconsolidated affiliates within the Consolidated Statements of Earnings. We classify distributions received from unconsolidated affiliates in our Consolidated Statements of Cash Flows using the cumulative earnings approach. Under the cumulative earnings approach, distributions are considered returns on investment and classified as cash inflows from operating activities unless the Company’s cumulative distributions from an investee received exceed the cumulative equity in earnings of such investee. When cumulative distributions from an investee exceed cumulative equity in earnings of the investee, such excess is considered a return of investment and is classified as a cash inflow from investing activities.
Interest and Investment Income	Interest and investment income Dividends and interest income are recorded in Interest and investment income and recognized when earned. Income or losses upon call or prepayment of fixed maturity securities are recognized in Interest and investment income. Amortization of premiums and accretion of discounts on investments in fixed maturity securities are reflected in Interest and investment income over the contractual terms of the investments, and for callable investments at a premium, based on the earliest call date of the investments, in a manner that produces a constant effective yield. For mortgage-backed and asset-backed securities, included in the fixed maturity securities portfolios, one of two models may be used to recognize interest income. For higher rated securities, interest income will be estimated based on an effective yield that considers cash flows received to date plus current expectations of future cash flows. For all other securities, interest income will be estimated based upon an effective yield that considers current expectations of future cash flows. For both interest income models, the estimated future cash flows include assumptions regarding the performance of the underlying collateral pool. Interest and investment income is presented net of earned investment management fees and the effects of certain reinsurance contracts.
Cash and Cash Equivalents	Cash and Cash Equivalents Highly liquid instruments purchased as part of cash management with original maturities of three months or less are considered cash equivalents.
Trade and Notes Receivables	Trade and Notes Receivables The carrying values reported in the Consolidated Balance Sheets for trade and notes receivables approximate their fair value. Premium revenues from agency title operations are recognized when the underlying title order and transaction closing, if applicable, are complete and reported to us. Premium revenues from agency operations and related commissions include an accrual based on estimated historical transaction volume data for policies that have closed in a particular period in which premiums have not yet been reported to us. Historically, the time lag between the closing of these transactions by our agents and the reporting of these policies, or premiums, to us has been up to 15 months, with 66% - 91% reported within three months following closing, an additional 6% - 17% reported within the next three months and the remainder within seven to fifteen months. In addition to accruing these earned but unreported agency premiums, we also accrue agent commission expense, which was 76.9% of agent premiums earned in 2023, 77.1% of agent premiums earned in 2022, and 76.7% of agent premiums earned in 2021. The amount due from our agents relating to this accrual, i.e., the agent premium less their contractual retained commission, was approximately $35 million and $74 million at December 31, 2023 and 2022, respectively. Due to the offsetting effects of reversing prior period accruals, the impact of this accrual to our recorded Agency title insurance premiums, Agent commissions and net earnings in any given period is not considered material.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The fair values of financial instruments presented in the Consolidated Financial Statements are estimates of the fair values at a specific point in time using available market information and appropriate valuation methodologies. These estimates are subjective in nature and involve uncertainties and significant judgment in the interpretation of current market data. See a description of the fair value methodology used in Note D Fair Value of Financial Instruments.
Fair Value of Assets Acquired and Liabilities Assumed in Business Combinations	Fair Value of Assets Acquired and Liabilities Assumed in Business Combinations Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 805, Business Combinations, requires an acquirer to recognize, separately from goodwill, the identifiable assets acquired, liabilities assumed, and any noncontrolling interest in the acquiree, and to measure these items generally at their acquisition date fair values. Goodwill is recorded as the residual amount by which the purchase price exceeds the fair value of the net assets acquired. If the initial accounting for a business combination is incomplete by the end of the reporting period in which the combination occurs, we are required to report provisional amounts in the financial statements for the items for which the accounting is incomplete. Adjustments to provisional amounts initially recorded that are identified during the measurement period are recognized in the reporting period in which the adjustment amounts are determined. This includes any effect on earnings of changes in depreciation, amortization, or other income effects as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. During the measurement period, we are also required to recognize additional assets or liabilities if new information is obtained about facts and circumstances that existed as of the acquisition date that, if known, would have resulted in the recognition of those assets and liabilities as of that date. The measurement period ends the sooner of one year from the acquisition date or when we receive the information we were seeking about facts and circumstances that existed as of the acquisition date or learn that more information is not obtainable. Contingent consideration liabilities or receivables recorded in connection with business acquisitions must also be adjusted for changes in fair value until settled.
Goodwill	Goodwill Goodwill represents the excess of cost over fair value of identifiable net assets acquired and assumed in a business combination. Goodwill and other intangible assets with indefinite useful lives are reviewed for impairment at the reporting unit level on an annual basis or more frequently if circumstances indicate potential impairment, through a comparison of fair value to the carrying amount. In evaluating the recoverability of goodwill, we perform an annual goodwill impairment analysis based on a review of qualitative factors to determine if events and circumstances exist, which will lead to a determination that the fair value of a reporting unit is greater than its carrying amount, prior to performing a full fair-value assessment. We completed annual goodwill impairment analyses in the fourth quarter of each period presented using a September 30 measurement date. For the years ended December 31, 2023, 2022 and 2021, we determined there were no events or circumstances that indicated that the carrying value of a reporting unit exceeded the fair value.
VOBA, DAC, DSI, URL and Other Intangible Assets	VOBA, DAC, DSI and URL Our intangible assets include the value of insurance and reinsurance contracts acquired (hereafter referred to as "VOBA"), deferred acquisition costs ("DAC"), deferred sales inducements ("DSI") and unearned revenue liabilities ("URL"). VOBA is an intangible asset that reflects the amount recorded as insurance contract liabilities less the estimated fair value of in-force contracts ("VIF") in a life insurance company acquisition. It represents the portion of the purchase price that is allocated to the value of the rights to receive future cash flows from the business in force at the acquisition date. VOBA is a function of the VIF, current GAAP reserves, GAAP assets, and deferred tax liability. The VIF is determined by the present value of statutory distributable earnings less opening required capital. DAC consists principally of commissions and other acquisition costs that are related directly to the successful sale of new or renewal insurance contracts. Indirect or unsuccessful acquisition costs, maintenance, product development and overhead expenses are charged to expense as incurred. DSI represents up front bonus credits and persistency or vesting bonuses credited to contractholder fund balances. VOBA, DAC, and DSI are amortized on a constant level basis for the grouped contracts over the expected term of the related contracts to approximate straight-line amortization. Contracts are grouped by product type and feature and issue year into cohorts consistent with the grouping used in estimating the associated liability, where applicable. The constant level amortization bases of VOBA, DAC and DSI varies by product type. For universal life and indexed universal life ("IUL") insurance products, the constant level basis used is face amount in force. For deferred annuities (fixed indexed annuities ("FIA") and fixed rate annuities), the constant level basis used is initial premium deposit for DAC and DSI and vested account value as of the acquisition date for VOBA. For immediate annuity contracts, the VOBA balance is amortized in alignment with the Company’s accounting policy of amortizing the deferred profit liability ("DPL"). All amortization bases are adjusted by full lapses, which includes deaths, full surrenders, annuitizations and maturities, where applicable. The constant level bases used for amortization are projected using mortality and lapse assumptions that are based on Company’s experience, industry data, and other factors and are consistent with those used for the future policy benefits ("FPBs"), where applicable. If those projected assumptions change in future periods, they will be reflected in the cohort level amortization basis at that time. Unexpected contract terminations, due to higher mortality and/or lapse experience than expected, are recognized in the current period as a reduction of the capitalized balances. All balances are reduced for actual experience in excess of expected experience with changes in future estimates recognized prospectively over the remaining expected grouped contract term. The impact of changes in projected assumptions and the impact of actual experience that is different from expectations both impact the amortization of these intangible assets, which is reported within Depreciation and amortization in the accompanying Consolidated Statements of Earnings. Some of our IUL policies require payment of fees or other policyholder assessments in advance for services that will be rendered over the estimated lives of the policies or contracts. These payments are established as URLs upon receipt and included in Accounts payable and other accrued liabilities in the Consolidated Balance Sheets. URL is amortized like DAC over the estimated lives of these policies. Other Intangible Assets We have other intangible assets, not including goodwill, VOBA, DAC or DSI, which consist primarily of customer relationships and contracts, the value of distribution network acquired ("VODA"), trademarks and tradenames and state licenses, and computer software, which are generally recorded in connection with acquisitions at their fair value. Intangible assets with estimable lives are amortized over their respective estimated useful lives to their estimated residual values and reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. In general, customer relationships are amortized over their estimated useful lives, generally ten years, using an accelerated method, which takes into consideration expected customer attrition rates. VODA is an intangible asset that represents the value of an acquired distribution network and is amortized using the sum of years digits method. Contractual relationships are generally amortized over their contractual life. Trademarks and tradenames are generally amortized over ten years. Capitalized computer software includes the fair value of software acquired in business combinations, purchased software and capitalized software development costs. Purchased software is recorded at cost and amortized using the straight-line method over its estimated useful life. Software acquired in business combinations is recorded at its fair value and amortized using straight-line or accelerated methods over its estimated useful life, ranging from five to ten years. For internal-use computer software products, internal and external costs incurred during the preliminary project stage are expensed as they are incurred. Internal and external costs incurred during the application development stage are capitalized and amortized on a product-by-product basis commencing on the date the software is ready for its intended use. We do not capitalize any costs once the software is ready for its intended use. We review VOBA, DSI and other intangible assets for impairment annually or when events or circumstances occur that indicate a potential change in the underlying basis. For further information, refer to Note M Intangibles. Title Plants Title plants are recorded at the cost incurred to construct or obtain and organize historical title information to the point it can be used to perform title searches. Costs incurred to maintain, update and operate title plants are expensed as incurred. Title plants are not amortized as they are considered to have an indefinite life, if maintained. Sales of title plants are reported at the amount received net of the adjusted costs of the title plant sold. Sales of title plant copies are reported at the amount received. No cost is allocated to the sale of copies of title plants unless the carrying value of the title plant is diminished or impaired. Title plants are reviewed for impairment whenever events or circumstances indicate that the carrying amounts may not be recoverable.
Property and Equipment	Property and Equipment Property and equipment are recorded at cost, less accumulated depreciation. Depreciation is computed primarily using the straight-line method based on the estimated useful lives of the related assets: twenty to thirty years for buildings and three to twenty-five years for furniture, fixtures and equipment. Leasehold improvements are amortized on a straight-line basis over the lesser of the term of the applicable lease or the estimated useful lives of such assets. Property and equipment are reviewed for impairment whenever events or circumstances indicate that the carrying amounts may not be recoverable. We recorded $2 million of impairment expense related to property and equipment in our title segment in the year ended December 31, 2022.
Contractholder Funds	Contractholder Funds Contractholder funds include deferred annuities (FIAs and fixed rate annuities), IULs, funding agreements and non-life contingent ("NLC") immediate annuities (which includes NLC pension risk transfer ("PRT") annuities). The liabilities for contractholder funds for fixed rate annuities, funding agreements and NLC immediate annuities consist of contract account balances that accrue to the benefit of the contractholders. The liabilities for FIA and IUL policies consist of the value of the host contract plus the fair value of the indexed crediting feature of the policy, which is accounted for as an embedded derivative. The embedded derivative liability is carried at fair value in contractholder funds in the accompanying Consolidated Balance Sheets with changes in fair value reported in Benefits and other changes in policy reserves in the accompanying Consolidated Statements of Earnings. See a description of the fair value methodology used in Note D Fair Value of Financial Instruments.
Future Policy Benefits	Future Policy Benefits The FPB is determined as the present value of future policy benefits and related claims expenses to be paid to or on behalf of the policyholder less the present value of future net premiums to be collected from policyholders. The FPB for traditional life policies and life-contingent immediate annuity policies (which includes life-contingent PRT annuities) are estimated using current assumptions that include discount rate, mortality and surrender/lapse terminations for traditional life insurance policies only, and expenses. The expense assumption is locked-in at contract issuance and not subsequently reviewed or updated. The initial assumptions are based on generally accepted actuarial methods and a combination of internal and industry experience. Policies are terminated through surrenders, lapses and maturities, where surrenders represent the voluntary terminations of policies by policyholders, lapses represent cancellations by us due to nonpayment of premiums, and maturities are determined by policy contract terms. For traditional life policies and life-contingent immediate annuity policies, contracts are grouped into cohorts by product type, legal entity, and issue year, or acquisition year for cohorts established as of the F&G acquisition date, June 1, 2020. Life-contingent PRT annuities are grouped into cohorts by deal and legal entity. At contract inception, a net premium ratio ("NPR") is determined, which is calculated based on discounted future cash flows projected using best estimate assumptions and is capped at 100%, as net premiums cannot exceed gross premiums. Cohorts with NPRs less than 100% are not used to offset cohorts with NPRs greater than 100%. The NPR is adjusted for changes in cash flow assumptions and for differences between actual and expected experience. We assess the appropriateness of all future cash flow assumptions, excluding the expense assumption, on a quarterly basis and perform an in-depth review of future cash flow assumptions in the third quarter of each year. Updates are made when evidence suggests a revision is necessary. Updates for actual experience, which includes actual cash flows and insurance in-force, are performed on a quarterly basis. These updated cash flows are used to calculate a revised NPR, which is used to derive an updated liability as of the beginning of the current reporting period, discounted at the original contract issuance date. The updated liability is compared with the carrying amount of the liability as of that same date before the revised NPR. The difference between these amounts is the remeasurement gain or loss, presented parenthetically within Benefits and other changes in policy reserves in the accompanying Consolidated Statements of Earnings. In subsequent periods, the revised NPR, which is capped at 100%, is used to measure the FPB, subject to future revisions. If the NPR is greater than 100%, and therefore capped at 100%, the liability is increased and expensed immediately to reflect the amount necessary for net premiums to equal gross premiums. As the liability assumptions are reviewed and updated, if deemed necessary, at least annually, if conditions improve whereby the contracts are no longer expected to have net premiums in excess of gross premiums, the improvements would be captured in the remeasurement process and reflected in the accompanying Consolidated Statements of Earnings in the period of improvement. For traditional life policies and life-contingent immediate annuity policies (which includes life-contingent PRT annuities), the discount rate assumption is an equivalent single rate that is derived based on A-credit-rated fixed-income instruments with similar duration to the liability. We selected fixed-income instruments that have been A-rated by Bloomberg. In order to reflect the duration characteristics of the liability, we will use an implied forward yield curve and linear interpolation will be used for durations that have limited or no market observable points on the curve. The discount rate assumption is updated quarterly and used to remeasure the liability at the reporting date, with the resulting change reflected in the accompanying Consolidated Statements of Comprehensive Earnings. Deferred Profit Liability For life-contingent immediate annuity policies, gross premiums received in excess of net premiums are deferred at initial recognition as a DPL. Gross premiums are measured using assumptions consistent with those used in the measurement of the related liability for FPBs, including discount rate, mortality, and expenses. The DPL is amortized and recognized as premium revenue with the amount of expected future benefit payments, discounted using the same discount rate determined and locked-in at contract issuance that is used in the measurement of the related FPB. Interest is accreted on the balance of the DPL using this same discount rate. We periodically review and update our estimates using the actual historical experience and updated cash flows for the DPL at the same time as the estimates of cash flows for the FPB. When cash flows are updated, the updated estimates are used to recalculate the initial DPL at contract issuance. The recalculated DPL as of the beginning of the current reporting period is compared to the carrying amount of the DPL as of the beginning of the current reporting period, with any differences recognized as a remeasurement gain or loss, presented parenthetically within Benefits and other changes in policy reserves in the accompanying Consolidated Statements of Earnings. The DPL is recorded as a component of the Future policy benefits in the accompanying Consolidated Balance Sheets. Market Risk Benefits MRBs are contracts or contract features that both provide protection to the contract holder from other-than-nominal capital market risk (equity, interest rate and foreign exchange risk) and expose the Company to other-than-nominal capital market risk. MRBs include certain contract features primarily on FIA products that provide minimum guarantees to policyholders, such as guaranteed minimum death benefit ("GMDB"), guaranteed minimum withdrawal benefit ("GMWB") riders and guaranteed minimum accumulation benefit ("GMAB") riders. MRBs are measured at fair value using an attributed fee measurement approach where attributed fees are explicit rider charges collectible from the policyholder used to cover the excess benefits, which represent expected benefits in excess of the policyholder’s account value. At contract inception, an attributed fee ratio is calculated equal to rider charges over benefits paid in excess of the account value attributable to the MRBs. The attributed fee ratio remains static over the life of the MRB and is capped at 100%. Each period subsequent to contract inception, the attributed fee ratio is used to calculate the fair value of the MRBs using a risk neutral valuation method and is based on current net amounts at risk, market data, internal and industry experience, and other factors. The balances are computed using assumptions including mortality, full and partial surrender, GMWB utilization, risk-free rates including non-performance spread and risk margin, market value of options and economic scenarios. Policyholder behavior assumptions are reviewed at least annually, typically in the third quarter, for any revisions. MRBs can either be in an asset or liability position and are presented separately on the Consolidated Balance Sheets as the right of setoff criteria are not met. Changes in fair value are recognized in Market risk benefits gain (losses) in the accompanying Consolidated Statements of Earnings, except for the change in fair value due to a change in the instrument-specific credit risk, which is recognized in the accompanying Consolidated Statements of Comprehensive Earnings. See a description of the fair value methodology used in Note D Fair Value of Financial Instruments and Note X Market Risk Benefits.
Reserve for Title Claims Losses	Reserve for Title Claim Losses Our reserve for title claim losses includes known claims as well as losses we expect to incur, net of recoupments. Each known claim is reserved based on our review as to the estimated amount of the claim and the costs required to settle the claim. Reserves for claims, which are incurred but not reported are established at the time premium revenue is recognized based on historical loss experience and also take into consideration other factors, including industry trends, claim loss history, current legal environment, geographic considerations and the type of policy written. The reserve for title claim losses also includes reserves for losses arising from closing and disbursement functions due to fraud or operational error. If a loss is related to a policy issued by an independent agent, we may proceed against the independent agent pursuant to the terms of the agency agreement. In any event, we may proceed against third parties who are responsible for any loss under the title insurance policy under rights of subrogation.
Secured Trust Deposits	Secured Trust Deposits In the state of Illinois, a trust company is permitted to commingle and invest customers’ assets with its own assets, pending completion of real estate transactions. Accordingly, our Consolidated Balance Sheets reflect a secured trust deposit liability of $731 million and $862 million at December 31, 2023 and 2022, respectively, representing customers’ assets held by us and corresponding assets including cash and investments pledged as security for those trust balances.
Income Taxes	Income Taxes We recognize deferred tax assets and liabilities for temporary differences between the financial reporting basis and the tax basis of our assets and liabilities and expected benefits of utilizing net operating loss and credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The impact on deferred taxes of changes in tax rates and laws, if any, is applied to the years during which temporary differences are expected to be settled and reflected in the financial statements in the period enacted.
Reinsurance	Reinsurance Title In our Title segment, in a limited number of situations, we limit our maximum loss exposure by reinsuring certain risks with other title insurers. We also earn a small amount of additional income, which is reflected in our direct premiums, by assuming reinsurance for certain risks of other title insurers. We cede a portion of certain policy and other liabilities under agent fidelity, excess of loss and case-by-case reinsurance agreements. Reinsurance agreements provide that in the event of a loss (including costs, attorneys’ fees and expenses) exceeding the retained amounts, the reinsurer is liable for the excess amount assumed. However, the ceding company remains primarily liable in the event the reinsurer does not meet its contractual obligations. F&G In our F&G segment, our insurance subsidiaries enter into reinsurance agreements with other companies in the normal course of business. For arrangements that meet the criteria to be accounted for as reinsurance, we present the amounts consistently and on a gross basis in our Consolidated Balance Sheets with the ceded reserves balance presented as a Reinsurance recoverable. Deferred gains will be included within Accounts payable and accrued expenses with the related accretion reflected within Life insurance premiums and other fees on the Consolidated Balance Sheets and Statements of Earnings, respectively. Deferred costs will be included within the Prepaid expense and other assets with the related amortization reflected within Other operating expenses in the Consolidated Balance Sheets and Statements of Earnings, respectively. Premium and expense are recorded net of reinsurance ceded. For arrangements in which the underlying contracts do not include insurance risk or do not meet the criteria to be accounted for as reinsurance, the arrangements are accounted for as separate investment contracts or deposit accounting is applied, respectively. In both cases, we calculate a deposit asset based on the actual and expected cash flows associated to each arrangement and use the interest method to accrete the deposit asset using an effective yield based on changes in actual and expected cash flows. The deposit asset is presented within Reinsurance recoverable on the Consolidated Balance Sheets and the accretion of the deposit asset is presented within Benefits and other changes in policy reserves on the accompanying Consolidated Statements of Earnings. For certain arrangements that are not accounted for as reinsurance, the right of offset is applied when there is a right of offset explicit in the reinsurance agreement. This results in the assets and liabilities associated with the arrangement presented on a net basis in the accompanying Consolidated Balance Sheets, and the related net investment income, investment gain/loss, and change in deposit asset are presented net on the accompanying Consolidated Statements of Earnings. F&G intends to apply the right of offset where there is a right of offset explicit in the reinsurance agreement.
Benefits and Other Changes in Policy Reserves	Benefits and Other Changes in Policy Reserves Benefit expenses for deferred annuities (FIAs and fixed rate annuities), IUL policies and funding agreements include interest credited, fixed interest, floating interest (specific to funding agreements) and/or index credits (specific to FIA and IUL policies), to contractholder account balances. Benefit claims in excess of contract account balances, net of reinsurance recoveries, are charged to expense in the period that they are earned by the policyholder based on their selected strategy or strategies. Other changes in policy reserves include the change in the fair value of the FIA embedded derivative. Other changes in policy reserves also include the change in reserves for life insurance products. For traditional life and life-contingent immediate annuities (which includes PRT annuities with life contingencies), policy benefit claims are charged to expense in the period that the claims are incurred, net of reinsurance recoveries. Remeasurement gains or losses on the related FPB and DPL balances are presented parenthetically within Benefits and other changes in policy reserves in the accompanying Consolidated Statements of Earnings.
Stock-Based Compensation Plans	Stock-Based Compensation Plans We account for stock-based compensation plans using the fair value method. Using the fair value method of accounting, compensation cost is measured based on the fair value of the award at the grant date using quoted market prices, and recognized over the service period.
Earnings Per Share	Earnings Per Share Basic earnings per share, as presented on the Consolidated Statement of Earnings, is computed by dividing net earnings available to common shareholders by the weighted average number of common shares outstanding during the period. In periods when earnings are positive, diluted earnings per share is calculated by dividing net earnings available to common shareholders by the weighted average number of common shares outstanding plus the impact of assumed conversions of potentially dilutive securities. For periods when we recognize a net loss, diluted earnings per share is equal to basic earnings per share as the impact of assumed conversions of potentially dilutive securities is considered to be antidilutive. We have granted certain stock options, shares of restricted stock, convertible debt instruments and certain other convertible share-based payments, which have been treated as common share equivalents for purposes of calculating diluted earnings per share for periods in which positive earnings have been reported. The net earnings of F&G in our calculation of diluted earnings per share is adjusted for dilution related to certain F&G restricted stock granted to F&G's employees in accordance with ASC 260-10-55-20. We calculate the ratio of the shares of F&G we own to the total weighted average diluted shares of F&G outstanding and multiply the ratio by F&G's net earnings. The result is used for F&G's net earnings attributable to FNF included in our consolidated net earnings in the numerator for our diluted EPS calculation. Restricted stock, options or other instruments, which provide the ability to acquire shares of our common stock that are antidilutive are excluded from the computation of diluted earnings per share.
Comprehensive Earnings (Loss)	Comprehensive Earnings (Loss) We report Comprehensive earnings (loss) in accordance with GAAP on the Consolidated Statements of Comprehensive Earnings. Total comprehensive earnings are defined as all changes in shareholders' equity during a period, other than those resulting from investments by and distributions to shareholders. While total comprehensive earnings is the activity in a period and is largely driven by net earnings in that period, accumulated other comprehensive earnings or loss represents the cumulative balance of other comprehensive earnings, net of tax, as of the balance sheet date. Amounts reclassified to net earnings relate to the realized gains (losses) on our investments and other financial instruments, excluding investments in unconsolidated affiliates, and are included in Recognized gains and losses, net on the Consolidated Statements of Earnings.
Management Estimates	Management Estimates The preparation of these Consolidated Financial Statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Periodically, and at least annually, typically in the third quarter, we review the assumptions associated with reserves for policy benefits and product guarantees. During the third quarter of 2023 and for the year ended December 31, 2023, based on increases in interest rates and pricing changes, we updated certain FIA assumptions to calculate the fair value of the embedded derivative component within the contractholder funds and also aligned reserves to actual policyholder behavior. These changes resulted in an increase in total benefits and other changes in policy reserves of approximately $73 million. During the fourth quarter of 2022, based on increases in interest rates and pricing changes during 2022, we updated certain FIA assumptions used to calculate the fair value of the embedded derivative component within contractholder funds and the fair value of market risk benefits. These changes, taken together, resulted in an increase in contractholder funds and market risk benefits of $99 million. During the third quarter of 2021, we implemented a new actuarial valuation system. As a result, our third quarter 2021 assumption updates include model refinements and assumption updates resulting from the implementation. The system implementation and assumption review process that occurred in the third quarter of 2021, included refinements in the calculation of the fair value of the embedded derivative component of our FIAs within contractholder funds and updates to the surrender rates, GMWB utilization and earned rate assumptions to reflect our current and expected future experience. These changes, taken together, resulted in a decrease in contractholder funds and future policy reserves of $435 million. The majority of the changes represent one-time adjustments in the third quarter of 2021 related to the cumulative impact of the system implementation and are not expected to re-occur in the future. Owned Distribution Investments For the years ended December 31, 2023 and 2022, we expensed approximately $154 million and $74 million in commissions on sales through our funded owned distribution investments and their affiliates, respectively, with the acquisition expense deferred and amortized in Depreciation and amortization on the accompanying Consolidated Statements of Earnings.
Revenue Recognition	Our Direct title insurance premiums are recognized as revenue at the time of closing of the underlying transaction as the earnings process is then considered complete. Regulation of title insurance rates varies by state. Premiums are charged to customers based on rates predetermined in coordination with each states' respective Department of Insurance. Cash associated with such revenue is typically collected at closing of the underlying real estate transaction. Premium revenues from agency title operations are recognized when the underlying title order and transaction closing, if applicable, are complete. Revenues from our home warranty business are generated from contracts with customers to provide warranty for major home appliances. Substantially all of our home warranty contracts are one year in length and revenue is recognized ratably over the term of the contract.
Revenue Recognition, Other	Interest and investment income consists primarily of interest payments received on fixed maturity security holdings and dividends received on equity and preferred security holdings along with the investment income of limited partnerships. We do not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less, primarily related to revenue from our home warranty business, and (ii) contracts for which we recognize revenue at the amount to which we have the right to invoice for services performed.
Revenue Recognition, Services, Real Estate Transactions	Escrow fees and Other title-related fees and income in our Title segment are closely related to Direct title insurance premiums and are primarily associated with managing the closing of real estate transactions including the processing of funds on behalf of the transaction participants, gathering and recording the required closing documents, providing notary and home inspection services, and other real estate or title-related activities. Revenue is primarily recognized upon closing of the underlying real estate transaction or completion of services. Cash associated with such revenue is typically collected at closing. Revenues from ServiceLink, excluding its title premiums, escrow fees and loan subservicing fees primarily include revenues from real estate appraisal services and foreclosure processing and facilitation services. Revenues from real estate appraisal services are recognized when all appraisal work is complete, a final report is issued to the client and the client is billed. Revenues from foreclosure processing and facilitation services are primarily recognized upon completion of the services and when billing to the client is complete. Life insurance premiums in our F&G segment reflect premiums for life-contingent PRT, traditional life insurance products and life-contingent immediate annuity products, which are recognized as revenue when due from the policyholder. We have ceded the majority of our traditional life business to unaffiliated third-party reinsurers. While the base contract has been reinsured, we continue to retain the return of premium rider. Insurance and investment product fees and other consist primarily of the cost of insurance on IUL policies, UREV on IUL policies, policy rider fees primarily on FIA policies and surrender charges assessed against policy withdrawals in excess of the policyholder's allowable penalty-free amounts. Premium and annuity deposit collections for FIA, fixed rate annuities, immediate annuities and PRT without life contingency, and amounts received for funding agreements are reported in the financial statements as deposit liabilities (i.e., contractholder funds) instead of as sales or revenues. Similarly, cash payments to customers are reported as decreases in the liability for contractholder funds and not as expenses. Sources of revenues for products accounted for as deposit liabilities include net investment income, surrender, cost of insurance and other charges deducted from contractholder funds, and net realized gains (losses) on investments. Components of expenses for products accounted for as deposit liabilities are interest-sensitive and index product benefits (primarily interest credited to account balances or the hedging cost of providing index credits to the policyholder), amortization of DAC, DSI, and VOBA, other operating costs and expenses, and income taxes. Real estate technology revenues are primarily comprised of subscription fees for use of software provided to real estate professionals. Subscriptions are only offered on a month-by-month basis and fees are billed monthly. Revenue is recognized in the month services are provided. Loan subservicing revenues are generated by certain subsidiaries of ServiceLink and are associated with the servicing of mortgage loans on behalf of its customers. Revenue is recognized when the underlying work is performed and billed. Loan subservicing revenues are subject to the recognition requirements of ASC Topic 860.
Recent Accounting Pronouncements Adopted and Not Yet Adopted	Adopted Pronouncements In August 2018, the Financial Accounting Standards Board (“FASB”) issued ASU 2018-12, as clarified and amended by ASU 2019-09, Financial Services-Insurance: Effective Date and ASU 2020-11, Financial Services-Insurance: Effective Date and Early Application, effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. This update introduced the following requirements: assumptions used to measure cash flows for traditional and limited-payment contracts must be reviewed at least annually with the effect of changes in those assumptions being recognized in the statement of earnings; the discount rate applied to measure the liability for future policy benefits and limited-payment contracts must be updated at each reporting date with the effect of changes in the rate being recognized in accumulated other comprehensive income (loss) (“AOCI”); Market risk benefits (“MRB”) associated with deposit contracts must be measured at fair value, with the effect of the change in the fair value recognized in earnings, except for the change attributable to instrument-specific credit risk, which is recognized in AOCI; deferred acquisition costs are no longer required to be amortized in proportion to premiums, gross profits, or gross margins; instead, those balances must be amortized on a constant level basis over the expected term of the related contracts; deferred acquisition costs must be written off for unexpected contract terminations; and disaggregated roll forwards of beginning to ending balances of the liability for future policyholder benefits ("FPBs"), contractholder funds, MRBs, separate account liabilities and deferred acquisition costs, as well as information about significant inputs, judgments, assumptions, and methods used in measurement are required to be disclosed. We adopted this standard, which required the new guidance be applied as of the beginning of the earliest period presented or January 1, 2021, referred to as the transition date, and elected the full retrospective transition method. As a result of adoption, the Company recorded a cumulative-effect adjustment, which increased opening 2021 retained earnings by $75 million, net of tax. In March 2022, the FASB issued ASU 2022-02, Financial Instruments-Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures. The amendments in this update eliminate the Troubled Debt Restructuring ("TDR") recognition and measurement guidance for creditors and, instead, require that an entity evaluate whether the modification represents a new loan or a continuation of an existing loan. The amendments also enhance existing disclosure requirements and introduce new requirements related to certain modifications of receivables made to borrowers experiencing financial difficulty. Additionally, these amendments require that an entity disclose current-period gross write-offs by year of origination for financing receivables and net investment in leases within the scope of Subtopic 326-20. The guidance is effective for entities that have adopted ASU 2016-13 Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments (Topic 326) for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, though early adoption is permitted. We adopted this standard as of January 1, 2023, and it did not have a material impact on our Consolidated Financial Statements and related disclosures upon adoption. Pronouncements Not Yet Adopted In June 2022, the FASB issued ASU 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions. The amendments in this update affect all entities that have investments in equity securities measured at fair value that are subject to a contractual sale restriction and clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The amendments also clarify that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction. Additionally, the amendments require the following disclosures for equity securities subject to contractual sale restrictions: the fair value of equity securities subject to contractual sale restrictions reflected in the balance sheet, the nature and remaining duration of the restriction(s), and the circumstances that could cause a lapse in the restriction(s). The amendments in this update do not change the principles of fair value measurement, rather, they clarify those principles when measuring the fair value of an equity security subject to a contractual sale restriction and improve current GAAP by reducing diversity in practice, reducing the cost and complexity in measuring fair value, and increasing comparability of financial information across reporting entities that hold those investments. The amendments in this update are effective for public business entities for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years, though early adoption is permitted. We do not expect this guidance to have a material impact on our Consolidated Financial Statements and related disclosures upon adoption. We do not currently plan to early adopt this standard. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The amendments in this update improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expense categories that are regularly provided to the chief operating decision maker (CODM) and included in each reported measure of a segment’s profit or loss. In addition, the amendments enhance interim disclosure requirements that are currently required annually, clarify circumstances in which an entity can disclose multiple segment measures of profit or loss, and contain other disclosure requirements. The amendments in this update are incremental to the current requirements of Topic 280 and do not change how a public entity identifies its operating segments, aggregates those operating segments, or applies the quantitative thresholds to determine its reportable segments. The enhanced segment disclosure requirements apply retrospectively to all prior periods presented in the financial statements. The significant segment expense and other segment item amounts disclosed in prior periods shall be based on the significant segment expense categories identified and disclosed in the period of adoption. The amendments in this update are effective for all public entities for fiscal years beginning after December 15, 2023, and interim periods beginning after December 15, 2024. Early adoption is permitted, and the updates must be applied retrospectively to all periods presented in the financial statements. We do not currently expect to early adopt this standard and are in the process of assessing its impact on our disclosures upon adoption. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The amendments in this update enhance the transparency of the income tax disclosures by expanding on the disclosures required annually. The amendments require entities to disclose in their rate reconciliation table additional categories of information about federal, state, and foreign income taxes, in addition to providing details about the reconciling items in some categories if above a quantitative threshold. Additionally, the amendments require annual disclosure of income taxes paid (net of refunds received) disaggregated by jurisdiction based on a quantitative threshold. The amendments in this update are effective for public business entities for annual periods beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The amendments should be applied on a prospective basis, and retrospective application is permitted. We do not currently expect to early adopt this standard and are in the process of assessing its impact on our disclosures upon adoption.

Fair Value of Financial Instruments - Changes to Fair Value of Financial Instruments Level 3 (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Liabilities, Fair Value Disclosure [Abstract]
Balance at End of Period	$ 4,258
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Recognized gains and losses, net	Recognized gains and losses, net
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Asset, Gain (Loss), Statement of Other Comprehensive Income or Comprehensive Income [Extensible Enumeration]	Unrealized gain (loss) on investments and other financial instruments, net of adjustments to intangible assets and unearned revenue (excluding investments in unconsolidated affiliates)	Unrealized gain (loss) on investments and other financial instruments, net of adjustments to intangible assets and unearned revenue (excluding investments in unconsolidated affiliates)
Level 3
Debt Securities, Available-for-sale [Abstract]
Balance at Beginning of Period	$ 8,286	$ 5,641
Balance at End of Period	9,677	8,286
Liabilities, Fair Value Disclosure [Abstract]
Balance at Beginning of Period	3,397	4,352
Balance at End of Period	4,661	3,397
FIA embedded derivatives, included in contractholder funds
Liabilities, Fair Value Disclosure [Abstract]
Balance at Beginning of Period	3,115	3,883
Liabilities, Total Gains (Losses) Included in Earnings	257	(1,382)
Liabilities, Total Gains (Losses) Included in AOCI	0	0
Liabilities, Purchases	1,049	768
Liabilities, Sales	0	0
Liabilities, Settlements	(163)	(154)
Liabilities, Net transfer In (Out) of Level 3	0	0
Balance at End of Period	4,258	3,115
Change in Unrealized Incl in OCI	0	0
Derivative investments
Debt Securities, Available-for-sale [Abstract]
Balance at Beginning of Period	0
Assets, Total Gains (Losses) Included in Earnings	57
Assets, Total Gains (Losses) Included in AOCI	0
Assets, Purchases	0
Assets, Sales	0
Assets, Settlements	0
Assets, Net transfer In (Out) of Level 3	0
Balance at End of Period	57	0
Change in Unrealized Included in OCI	0
Asset-backed securities
Debt Securities, Available-for-sale [Abstract]
Balance at Beginning of Period	6,263	3,959
Assets, Total Gains (Losses) Included in Earnings	(53)	(6)
Assets, Total Gains (Losses) Included in AOCI	186	(393)
Assets, Purchases	1,830	3,269
Assets, Sales	(125)	(39)
Assets, Settlements	(738)	(541)
Assets, Net transfer In (Out) of Level 3	(241)	14
Balance at End of Period	7,122	6,263
Change in Unrealized Included in OCI	185	(426)
Commercial mortgage-backed securities
Debt Securities, Available-for-sale [Abstract]
Balance at Beginning of Period	37	35
Assets, Total Gains (Losses) Included in Earnings	0	0
Assets, Total Gains (Losses) Included in AOCI	2	(5)
Assets, Purchases	22	0
Assets, Sales	0	0
Assets, Settlements	0	0
Assets, Net transfer In (Out) of Level 3	(43)	7
Balance at End of Period	18	37
Change in Unrealized Included in OCI	2	(4)
Corporates
Debt Securities, Available-for-sale [Abstract]
Balance at Beginning of Period	1,440	1,135
Assets, Total Gains (Losses) Included in Earnings	(2)	1
Assets, Total Gains (Losses) Included in AOCI	(21)	(187)
Assets, Purchases	654	714
Assets, Sales	(1)	(20)
Assets, Settlements	(94)	(215)
Assets, Net transfer In (Out) of Level 3	3	12
Balance at End of Period	1,979	1,440
Change in Unrealized Included in OCI	(20)	(188)
Hybrids
Debt Securities, Available-for-sale [Abstract]
Balance at Beginning of Period	0	0
Assets, Total Gains (Losses) Included in Earnings	0	0
Assets, Total Gains (Losses) Included in AOCI	0	0
Assets, Purchases	0	0
Assets, Sales	0	0
Assets, Settlements	0	0
Assets, Net transfer In (Out) of Level 3	0	0
Balance at End of Period	0	0
Change in Unrealized Included in OCI	0	0
Municipals
Debt Securities, Available-for-sale [Abstract]
Balance at Beginning of Period	29	43
Assets, Total Gains (Losses) Included in Earnings	0	0
Assets, Total Gains (Losses) Included in AOCI	20	(14)
Assets, Purchases	0	0
Assets, Sales	0	0
Assets, Settlements	0	0
Assets, Net transfer In (Out) of Level 3	0	0
Balance at End of Period	49	29
Change in Unrealized Included in OCI	20	(13)
Residential mortgage-backed securities
Debt Securities, Available-for-sale [Abstract]
Balance at Beginning of Period	302	0
Assets, Total Gains (Losses) Included in Earnings	1	0
Assets, Total Gains (Losses) Included in AOCI	7	0
Assets, Purchases	32	316
Assets, Sales	0	0
Assets, Settlements	(9)	0
Assets, Net transfer In (Out) of Level 3	(330)	(14)
Balance at End of Period	3	302
Change in Unrealized Included in OCI	7	0
Foreign Governments
Debt Securities, Available-for-sale [Abstract]
Balance at Beginning of Period	16	18
Assets, Total Gains (Losses) Included in Earnings	0	0
Assets, Total Gains (Losses) Included in AOCI	0	(2)
Assets, Purchases	0	0
Assets, Sales	0	0
Assets, Settlements	0	0
Assets, Net transfer In (Out) of Level 3	0	0
Balance at End of Period	16	16
Change in Unrealized Included in OCI	0	(1)
Investment in unconsolidated affiliates
Debt Securities, Available-for-sale [Abstract]
Balance at Beginning of Period	23	21
Assets, Total Gains (Losses) Included in Earnings	13	0
Assets, Total Gains (Losses) Included in AOCI	0	2
Assets, Purchases	249	0
Assets, Sales	0	0
Assets, Settlements	0	0
Assets, Net transfer In (Out) of Level 3	0	0
Balance at End of Period	285	23
Change in Unrealized Included in OCI	0	2
Short-term
Debt Securities, Available-for-sale [Abstract]
Balance at Beginning of Period	0	321
Assets, Total Gains (Losses) Included in Earnings	0	0
Assets, Total Gains (Losses) Included in AOCI	0	(1)
Assets, Purchases	204	20
Assets, Sales	(19)	0
Assets, Settlements	(185)	0
Assets, Net transfer In (Out) of Level 3	0	(340)
Balance at End of Period	0	0
Change in Unrealized Included in OCI	0	(1)
Preferred securities
Debt Securities, Available-for-sale [Abstract]
Balance at Beginning of Period	1	2
Assets, Total Gains (Losses) Included in Earnings	0	0
Assets, Total Gains (Losses) Included in AOCI	0	(1)
Assets, Purchases	0	0
Assets, Sales	0	0
Assets, Settlements	0	0
Assets, Net transfer In (Out) of Level 3	7	0
Balance at End of Period	8	1
Change in Unrealized Included in OCI	1	(1)
Equity securities
Debt Securities, Available-for-sale [Abstract]
Balance at Beginning of Period	10	9
Assets, Total Gains (Losses) Included in Earnings	1	0
Assets, Total Gains (Losses) Included in AOCI	1	0
Assets, Purchases	0	2
Assets, Sales	0	(1)
Assets, Settlements	0	0
Assets, Net transfer In (Out) of Level 3	3	0
Balance at End of Period	15	10
Change in Unrealized Included in OCI	0	0
Available-for-sale embedded derivative
Debt Securities, Available-for-sale [Abstract]
Balance at Beginning of Period	23	34
Assets, Total Gains (Losses) Included in Earnings	0	(11)
Assets, Total Gains (Losses) Included in AOCI	4	0
Assets, Purchases	0	0
Assets, Sales	0	0
Assets, Settlements	0	0
Assets, Net transfer In (Out) of Level 3	0	0
Balance at End of Period	27	23
Change in Unrealized Included in OCI	4	0
Credit linked note
Debt Securities, Available-for-sale [Abstract]
Balance at Beginning of Period	15	23
Assets, Total Gains (Losses) Included in Earnings	0	(1)
Assets, Total Gains (Losses) Included in AOCI	0	(1)
Assets, Purchases	0	0
Assets, Sales	0	(2)
Assets, Settlements	(5)	(4)
Assets, Net transfer In (Out) of Level 3	0	0
Balance at End of Period	10	15
Change in Unrealized Included in OCI	0	0
Secured borrowing receivable
Debt Securities, Available-for-sale [Abstract]
Balance at Beginning of Period	10	0
Assets, Total Gains (Losses) Included in Earnings	0	0
Assets, Total Gains (Losses) Included in AOCI	0	0
Assets, Purchases	0	0
Assets, Sales	0	0
Assets, Settlements	(10)	0
Assets, Net transfer In (Out) of Level 3	0	10
Balance at End of Period	0	10
Change in Unrealized Included in OCI	0	0
Subtotal Level 3 assets at fair value
Debt Securities, Available-for-sale [Abstract]
Balance at Beginning of Period	8,169	5,600
Assets, Total Gains (Losses) Included in Earnings		(17)
Assets, Total Gains (Losses) Included in AOCI		(602)
Assets, Purchases		4,321
Assets, Sales		(62)
Assets, Settlements		(760)
Assets, Net transfer In (Out) of Level 3		(311)
Balance at End of Period		8,169
Change in Unrealized Included in OCI		(632)
Subtotal Level 3 assets at fair value \| Level 3
Debt Securities, Available-for-sale [Abstract]
Balance at Beginning of Period	8,169
Assets, Total Gains (Losses) Included in Earnings	17
Assets, Total Gains (Losses) Included in AOCI	199
Assets, Purchases	2,991
Assets, Sales	(145)
Assets, Settlements	(1,041)
Assets, Net transfer In (Out) of Level 3	(601)
Balance at End of Period	9,589	8,169
Change in Unrealized Included in OCI	199
Market risk benefits asset \| Level 3
Debt Securities, Available-for-sale [Abstract]
Balance at Beginning of Period	117	41
Balance at End of Period	88	117
Subtotal Level 3 liabilities at fair value
Liabilities, Fair Value Disclosure [Abstract]
Balance at Beginning of Period	3,115	3,883
Liabilities, Total Gains (Losses) Included in Earnings	257	(1,382)
Liabilities, Total Gains (Losses) Included in AOCI	0	0
Liabilities, Purchases	1,049	768
Liabilities, Sales	0	0
Liabilities, Settlements	(163)	(154)
Liabilities, Net transfer In (Out) of Level 3	0	0
Balance at End of Period		3,115
Change in Unrealized Incl in OCI		0
Subtotal Level 3 liabilities at fair value \| Level 3
Liabilities, Fair Value Disclosure [Abstract]
Balance at Beginning of Period	3,115
Balance at End of Period		3,115
Change in Unrealized Incl in OCI	0
Market Risk benefits liability \| Level 3
Liabilities, Fair Value Disclosure [Abstract]
Balance at Beginning of Period	282	469
Balance at End of Period	$ 403	$ 282

Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Future Payments Under Operating Lease Arrangements

Future payments under operating lease arrangements accounted for under ASC Topic 842 as of December 31, 2023, are as follows (in millions):


2024	$	142
2025	106
2026	76
2027	46
2028	29
Thereafter	32
Total operating lease payments, undiscounted	$	431
Less: present value discount	37
Lease liability, at present value	$	394

Future Policy Benefits

12 Months Ended

Dec. 31, 2023

Insurance [Abstract]

Future Policy Benefits

The following table summarizes balances and changes in the present value of expected net premiums and the present value of the expected FPB for nonparticipating traditional contracts:


	December 31, 2023		December 31, 2022		December 31, 2021
Expected net premiums	(Dollars in millions)
Balance, beginning of year	$	797	$	1,020	$	1,152
Beginning balance at original discount rate	974		1,045		1,131

Effect of actual variances from expected experience	(1)		33		25
Balance adjusted for variances from expectation	$	973	$	1,078	$	1,156

Interest accrual	19		20		22
Net premiums collected	(118)		(124)		(133)

Ending Balance at original discount rate	$	874	$	974	$	1,045
Effect of changes in discount rate assumptions	(152)		(177)		(25)
Balance, end of year	$	722	$	797	$	1,020

Expected FPB
Balance, beginning of year	$	2,151	$	2,772	$	3,105
Beginning balance at original discount rate	2,665		2,806		2,995

Effect of actual variances from expected experience	(24)		13		(14)
Balance adjusted for variances from expectation	$	2,641	$	2,819	$	2,981

Interest accrual	56		59		62
Benefits payments	(205)		(213)		(237)

Ending Balance at original discount rate	$	2,492	$	2,665	$	2,806
Effect of changes in discount rate assumptions	(421)		(514)		(34)
Balance, end of year	$	2,071	$	2,151	$	2,772

Net liability for future policy benefits	$	1,349	$	1,354	$	1,752
Less: Reinsurance recoverable	413		612		749
Net liability for future policy benefits, after reinsurance recoverable	$	936	$	742	$	1,003

Weighted-average duration of liability for future policyholder benefits (years)	7.36		7.58		8.54

The following tables summarize balances and changes in the present value of the expected FPB for limited-payment contracts:


	December 31, 2023		December 31, 2022		December 31, 2021
	PRT
Balance, beginning of year	$	2,165	$	1,148	$	—
Beginning balance at original discount rate	2,475		1,151		—
Effect of changes in cash flow assumptions	(9)		(20)		—
Effect of actual variances from expected experience	(7)		2		—
Balance adjusted for variances from expectation	$	2,459	$	1,133	$	—
Issuances	2,041		1,418		1,155
Interest accrual	109		50		2
Benefits payments	(258)		(126)		(6)

Ending Balance at original discount rate	$	4,351	$	2,475	$	1,151
Effect of changes in discount rate assumptions	(162)		(310)		(3)
Balance, end of year	$	4,189	$	2,165	$	1,148

Net liability for future policy benefits	$	4,189	$	2,165	$	1,148
Less: Reinsurance recoverable	—		—		—
Net liability for future policy benefits, after reinsurance recoverable	$	4,189	$	2,165	$	1,148

Weighted-average duration of liability for future policyholder benefits (years)	8.23		8.09		8.75


	December 31, 2023		December 31, 2022		December 31, 2021
	Immediate annuities
Balance, beginning of year	$	1,429	$	1,954	$	2,153
Beginning balance at original discount rate	1,858		1,935		2,040
Effect of changes in cash flow assumptions	—		—		—
Effect of actual variances from expected experience	(15)		(26)		(47)
Balance adjusted for variances from expectation	$	1,843	$	1,909	$	1,993
Issuances	22		26		18
Interest accrual	51		60		60
Benefits payments	(128)		(137)		(136)

Ending Balance at original discount rate	$	1,788	$	1,858	$	1,935
Effect of changes in discount rate assumptions	(373)		(429)		19
Balance, end of year	$	1,415	$	1,429	$	1,954

Net liability for future policy benefits	$	1,415	$	1,429	$	1,954
Less: Reinsurance recoverable	116		118		145
Net liability for future policy benefits, after reinsurance recoverable	$	1,299	$	1,311	$	1,809

Weighted-average duration of liability for future policyholder benefits (years)	12.47		11.76		13.61

The following tables summarize balances and changes in the liability for DPL for limited-payment contracts:


	December 31, 2023				December 31, 2022				December 31, 2021
	Immediate annuities		PRT		Immediate annuities		PRT		Immediate annuities		PRT
					(In millions)
Balance, beginning of year	$	69	$	4	$	57	$	7	$	22	$	—
Effect of modeling changes	4		—		—		—		—		—
Effect of changes in cash flow assumptions	—		1		—		(2)		—		—
Effect of actual variances from expected experience	16		5		16		—		39		—
Balance adjusted for variances from expectation	89		10		73		5		61		—
Issuances	3		—		1		—		—		7
Interest accrual	2		1		2		—		2		—
Amortization	(7)		(1)		(7)		(1)		(6)		—
Balance, end of year	$	87	$	10	$	69	$	4	$	57	$	7

The following table reconciles the net FPB to the FPB in the Consolidated Balance Sheets. The DPL for Immediate Annuities and PRT is presented together with the FPB in the Consolidated Balance Sheets and has been included as a reconciling item in the table below:


	December 31, 2023		December 31, 2022		December 31, 2021
	(In millions)
Traditional Life	$	1,349	$	1,354	$	1,752
Immediate annuities	1,415		1,429		1,954
PRT	4,189		2,165		1,148
Immediate annuities DPL	87		69		57
PRT DPL	10		4		7
Total	$	7,050	$	5,021	$	4,918

The following table provides the amount of undiscounted and discounted expected gross premiums and expected future benefits and expenses for nonparticipating traditional and limited-payment contracts:


	Undiscounted				Discounted
	December 31, 2023		December 31, 2022		December 31, 2023		December 31, 2022
Traditional Life	(In millions)
Expected future benefit payments	$	2,935	$	3,132	$	2,075	$	2,640
Expected future gross premiums	1,082		1,209		789		1,043
Immediate annuities
Expected future benefit payments	$	3,291	$	3,434	$	1,413	$	1,858
Expected future gross premiums	—		—		—		—
PRT
Expected future benefit payments	$	6,709	$	3,569	$	4,350	$	2,472
Expected future gross premiums	—		—		—		—

The following table summarizes the amount of revenue and interest related to nonparticipating traditional and limited-payment contracts recognized in the Consolidated Statements of Earnings:


	Gross Premiums (a)						Interest Expense (b)
	December 31, 2023		December 31, 2022		December 31, 2021		December 31, 2023		December 31, 2022		December 31, 2021
	(In millions)
Traditional Life	$	123	$	137	$	152	$	37	$	39	$	40
Immediate annuities	24		23		16		51		60		60
PRT	1,964		1,362		1,146		109		50		2
Total	$	2,111	$	1,522	$	1,314	$	197	$	149	$	102

(a) Included in Life insurance premiums and other fees on the Consolidated Statements of Earnings.

(b) Included in Benefits and other changes in policy reserves (remeasurement gains (losses) (a)) on the Consolidated Statements of Earnings.

The following table presents the weighted-average interest rate:


	December 31, 2023		December 31, 2022		December 31, 2021
Traditional Life
Interest accretion rate	2.33	%	2.32	%	2.29	%
Current discount rate	5.03	%	5.37	%	2.41	%
Immediate annuities
Interest accretion rate	3.14	%	3.07	%	3.04	%
Current discount rate	4.98	%	5.21	%	3.07	%
PRT
Interest accretion rate	4.61	%	3.20	%	1.20	%
Current discount rate	5.03	%	5.40	%	2.79	%

The following tables summarize the actual experience and expected experience for mortality and lapses of the FPB:


	December 31, 2023
	Traditional Life		Immediate annuities		PRT
Mortality
Actual experience	1.7	%	3.2	%	3.2	%
Expected experience	1.4	%	1.8	%	2.3	%
Lapses
Actual experience	—	%	—	%	—	%
Expected experience	0.3	%	—	%	—	%


	December 31, 2022
	Traditional Life		Immediate annuities		PRT
Mortality
Actual experience	1.5	%	3.0	%	1.9	%
Expected experience	1.3	%	1.9	%	2.5	%
Lapses
Actual experience	—	%	—	%	—	%
Expected experience	0.3	%	—	%	—	%


	December 31, 2021
	Traditional Life		Immediate annuities		PRT
Mortality
Actual experience	1.7	%	4.2	%	—	%
Expected experience	1.3	%	2.0	%	—	%
Lapses
Actual experience	0.1	%	—	%	—	%
Expected experience	0.3	%	—	%	—	%

The following table provides additional information for periods in which a cohort has an NPR > 100% (and therefore capped at 100%) (dollars in millions):

December 31, 2022

Cohort X

Description (a)

Net Premium Ratio before capping

100

Term with ROP Non-NY Cohort

Reserves before NP Ratio capping

1,172

Term with ROP Non-NY Cohort

Reserves after NP Ratio capping

1,173

Term with ROP Non-NY Cohort

Loss Expense

—

Term with ROP Non-NY Cohort

(a) Return of Premium (“ROP”)

F&G realized actual-to-expected experience variances and made changes to assumptions during the years ended December 31, 2023 and 2022 as follows:

Traditional life

Significant assumption inputs to the calculation of the FPB for traditional life include mortality, lapses (including lapses due to nonpayment of premium and surrenders for cash surrender value), and discount rates (both accretion and current). We review the cash flow assumptions annually, typically in the third quarter. In 2023, F&G undertook a review of all significant assumptions and revised the lapse assumption, resulting in a slight decrease to the FPB. There have been no other significant changes.

Market data that underlies current discount rates was updated in 2023 from that utilized in 2022 resulting in decreased discount rates that drove a material increase to the FPB.

In 2022, F&G similarly undertook a review in the third quarter of the significant cash flow assumptions and did not make any changes to mortality or lapses.

Market data that underlies current discount rates was updated from 2021 and increased significantly year-over-year, resulting in a material decrease to the FPB. Impacts to expected net premiums and expected FPBs due to discount rate changes in 2022 can be observed in the FPB roll forward tables at December 31, 2022.

Immediate annuities (life contingent)

Significant assumption inputs to the calculation of the FPB for immediate annuities (life contingent) include mortality and discount rates (both accretion and current). We review the cash flow assumptions annually, typically in the third quarter. In 2023, F&G undertook a review of the significant cash flow assumptions and did not make any changes to mortality. Market data that underlies current discount rates was updated in 2023 from that utilized in 2022, resulting in decreased discount rates that drove a material increase to the FPB.

In 2022, F&G similarly undertook a review of the significant cash flow assumptions and did not make any changes to those assumptions. Market data that underlies current discount rates was updated from 2021 and increased significantly year-over-year, resulting in a material decrease to the FPB. Impacts to expected FPBs due to assumption changes in 2022 can be observed in the FPB roll forward tables at December 31, 2022.

PRT (life contingent)

Significant assumption inputs to the calculation of the FPB for PRT (life contingent) include mortality and discount rates (both accretion and current). We review the cash flow assumptions annually, typically in the third quarter. In 2023, F&G undertook a review of the significant cash flow assumptions and did not make any changes to mortality. Market data that underlies current discount rates was updated in 2023 from that utilized in 2022 resulting in decreased discount rates that drove a material increase to the FPB.

In 2022, F&G similarly undertook a review of the significant cash flow assumption and did not make any changes to mortality. Market data that underlies current discount rates was updated from 2021 and increased significantly year-over-year, resulting in a material decrease to the FPB. Impacts to expected FPBs due to assumption changes in 2022 can be observed in the FPB roll forward tables at December 31, 2022.

Premium deficiency testing

F&G conducts annual premium deficiency testing for its long-duration contracts except for the FPB for nonparticipating traditional and limited-payment contracts. F&G also conducts annual premium deficiency testing for the VOBA of all long-duration contracts. Premium deficiency testing is performed by reviewing assumptions used to calculate the insurance liabilities and determining whether the sum of the existing contract liabilities and the present value of future gross premiums is sufficient to cover the present value of future benefits to be paid to or on behalf of policyholders and settlement costs and recover unamortized present value of future profits. Anticipated investment income, based on F&G’s experience, is considered when performing premium deficiency testing for long-duration contracts. During 2023 and 2022, F&G was not required to establish any additional liabilities as a result of premium deficiency testing.

Segment Information (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Schedule of Segment Information

Summarized financial information concerning our reportable segments is shown in the following tables.

As of and for the year ended December 31, 2023:


	Title		F&G		Corporate and Other		Total
	(In millions)
Title premiums	$	4,592	$	—	$	—	$	4,592
Other revenues	2,117		2,413		187		4,717
Revenues from external customers	6,709		2,413		187		9,309
Interest and investment income, including recognized gains and losses	329		2,087		27		2,443
Total revenues	7,038		4,500		214		11,752
Depreciation and amortization	154		412		27		593
Interest expense	—		97		77		174
Earnings (loss) from continuing operations before income taxes and equity in earnings of unconsolidated affiliates	883		(35)		(155)		693
Income tax expense (benefit)	181		23		(12)		192
Earnings (loss) before equity in earnings (loss) of unconsolidated affiliates	702		(58)		(143)		501
Equity in earnings of unconsolidated affiliates	17		—		—		17
Net earnings (loss) from continuing operations	$	719	$	(58)	$	(143)	$	518
Assets	$	7,949	$	70,186	$	2,479	$	80,614
Goodwill	$	2,789	$	1,749	$	292	$	4,830

As of and for the year ended December 31, 2022:


	Title		F&G		Corporate and Other		Total
	(In millions)
Title premiums	$	6,834	$	—	$	—	$	6,834
Other revenues	2,502		1,704		127		4,333
Revenues from external customers	9,336		1,704		127		11,167
Interest and investment income, including recognized gains and losses	(230)		645		(17)		398
Total revenues	9,106		2,349		110		11,565
Depreciation and amortization	142		324		25		491
Interest expense	—		29		86		115
Earnings (loss) before income taxes and equity in earnings of unconsolidated affiliates	1,090		793		(153)		1,730
Income tax expense (benefit)	298		158		(17)		439
Earnings (loss) before equity in earnings of unconsolidated affiliates	792		635		(136)		1,291
Equity in earnings of unconsolidated affiliates	15		—		—		15
Net earnings (loss)	$	807	$	635	$	(136)	$	1,306
Assets	$	8,295	$	54,637	$	2,211	$	65,143
Goodwill	$	2,620	$	1,749	$	266	$	4,635

As of and for the year ended December 31, 2021:


	Title		F&G		Corporate and Other		Total
	(In millions)
Title premiums	$	8,553	$	—	$	—	$	8,553
Other revenues	3,228		1,407		172		4,807
Revenues from external customers	11,781		1,407		172		13,360
Interest and investment income, including recognized gains and losses	(284)		2,567		12		2,295
Total revenues	11,497		3,974		184		15,655
Depreciation and amortization	138		271		23		432
Interest expense	—		29		85		114
Earnings (loss) before income taxes and equity in earnings of unconsolidated affiliates	2,136		1,552		(130)		3,558
Income tax expense (benefit)	511		320		(18)		813
Earnings (loss) before equity in earnings of unconsolidated affiliates	1,625		1,232		(112)		2,745
Equity in earnings of unconsolidated affiliates	58		—		6		64
Net earnings (loss)	$	1,683	$	1,232	$	(106)	$	2,809
Assets	$	9,663	$	49,371	$	2,296	$	61,330
Goodwill	$	2,517	$	1,749	$	266	$	4,532

Recent Accounting Pronouncements - Summary of Balance of and Changes in VOBA, DAC, DSI and URL due to Adoption of ASU 2018-12 (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
VOBA	$ 1,446	$ 1,615	$ 1,743
DAC	2,211	1,402	775
DSI	346	200	127
Immediate Annuities
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
VOBA	191	201	212
Traditional Life
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
VOBA	69	73	25
Fixed indexed annuities
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
VOBA	1,025	1,166	1,314
DAC	1,378	971	564
DSI	346	200	127
Deferred Annuities
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
VOBA	27	32	39
DAC	288	83	38
Universal Life
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
VOBA	134	143	153
DAC	$ 545	$ 348	173
As Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
VOBA				$ 1,466
DAC				222
DSI				36
URL/Deferred revenue				2
As Previously Reported \| Immediate Annuities
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
VOBA				86
As Previously Reported \| Traditional Life
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
VOBA				18
As Previously Reported \| Fixed indexed annuities
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
VOBA				1,208
DAC				167
DSI				36
As Previously Reported \| Deferred Annuities
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
VOBA				15
DAC				14
As Previously Reported \| Universal Life
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
VOBA				139
DAC				41
URL/Deferred revenue				2
Revision of Prior Period, Accounting Standards Update, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
VOBA				232
DAC				25
DSI				5
URL/Deferred revenue				25
Revision of Prior Period, Accounting Standards Update, Adjustment \| Immediate Annuities
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
VOBA				0
Revision of Prior Period, Accounting Standards Update, Adjustment \| Traditional Life
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
VOBA				(29)
Revision of Prior Period, Accounting Standards Update, Adjustment \| Fixed indexed annuities
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
VOBA				208
DAC				15
DSI				5
Revision of Prior Period, Accounting Standards Update, Adjustment \| Deferred Annuities
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
VOBA				24
DAC				2
Revision of Prior Period, Accounting Standards Update, Adjustment \| Universal Life
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
VOBA				29
DAC				8
URL/Deferred revenue				25
Revision of Prior Period, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
VOBA				264
Revision of Prior Period, Adjustment \| Immediate Annuities
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
VOBA				145
Revision of Prior Period, Adjustment \| Traditional Life
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
VOBA				43
Revision of Prior Period, Adjustment \| Fixed indexed annuities
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
VOBA				69
Revision of Prior Period, Adjustment \| Deferred Annuities
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
VOBA				2
Revision of Prior Period, Adjustment \| Universal Life
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
VOBA				5
Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
VOBA				(22)
DAC				(2)
DSI				4
URL/Deferred revenue				2
Cumulative Effect, Period of Adoption, Adjustment \| Immediate Annuities
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
VOBA				(5)
Cumulative Effect, Period of Adoption, Adjustment \| Traditional Life
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
VOBA				(1)
Cumulative Effect, Period of Adoption, Adjustment \| Fixed indexed annuities
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
VOBA				(14)
DAC				(1)
DSI				4
Cumulative Effect, Period of Adoption, Adjustment \| Deferred Annuities
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
VOBA				7
DAC				0
Cumulative Effect, Period of Adoption, Adjustment \| Universal Life
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
VOBA				(9)
DAC				(1)
URL/Deferred revenue				$ 2
As adjusted
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
VOBA			1,940
DAC			245
DSI			45
URL/Deferred revenue			29
As adjusted \| Immediate Annuities
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
VOBA			226
As adjusted \| Traditional Life
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
VOBA			31
As adjusted \| Fixed indexed annuities
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
VOBA			1,471
DAC			181
DSI			45
As adjusted \| Deferred Annuities
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
VOBA			48
DAC			16
As adjusted \| Universal Life
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
VOBA			164
DAC			48
URL/Deferred revenue			$ 29

CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (Parenthetical) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Statement of Comprehensive Income [Abstract]

Unrealized gain (loss) on investments and other financial instruments, net of adjustments to intangible assets and unearned revenue (excluding investments in unconsolidated affiliates), tax expense (benefit)

^[1]

$ 238

$ (1,246)

$ (140)

Unrealized gain on investments in unconsolidated affiliates, tax expense

^[2]

Unrealized gain (loss foreign currency translation, tax expense (benefit)

(4)

^[3]

Reclassification adjustments for change in unrealized gains and losses included in net earnings, tax expense (benefit)

(26)

Changes in current discount rate - future policy benefits

^[4]

(50)

203

Changes in instrument - specific credit risk - market risk benefits

^[5]

(9)

Other comprehensive earnings attributable to non-controlling interest, tax expense

$ (35)

Minimum pension liability adjustment, tax expense (benefit)

$ 2

$ (2)

[1]	Net of income tax expense (benefit) of $238 million, $(1,246) million, and $(140) million for the years ended December 31, 2023, 2022, and 2021, respectively.
[2]	Net of income tax expense of $3 million, $3 million, and $7 million for the years ended December 31, 2023, 2022, and 2021, respectively.
[3]	Net of income tax expense (benefit) of $2 million and $(4) million, for the years ended December 31, 2023 and 2022, respectively.
[4]	Net of income tax (benefit) expense of $(50) million, $203 million and $33 million for the years ended December 31, 2023, 2021 and 2021, respectively
[5]	Net of income tax (benefit) expense of $(9) million, $18 million and $3 million for the years ended December 31, 2023, 2021 and 2021, respectively.

Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The carrying amounts of derivative instruments, including derivative instruments embedded in FIA and IUL contracts, and reinsurance is as follows:


	December 31, 2023		December 31, 2022
Assets:	(In millions)
Derivative investments:
Call options	$	739	$	244
Interest rate swaps	57		—

Foreign currency forward	1		—
Other long-term investments:
Other embedded derivatives	28		23
Prepaid expenses and other assets:
Reinsurance related embedded derivatives	152		279
	$	977	$	546


Liabilities:
Contractholder funds:
FIA/ IUL embedded derivatives	$	4,258	$	3,115







	$	4,258	$	3,115

Derivative Instruments, Gain (Loss)

The change in fair value of derivative instruments included within Recognized gains and losses, net, in the accompanying Consolidated Statements of Earnings is as follows:


	Year ended December 31,
	2023		2022		2021
Net investment gains (losses):	(In millions)
Call options	$	92	$	(862)	$	597
Interest rate swaps	48		—		—
Futures contracts	9		(7)		8
Foreign currency forwards	(2)		12		10
Other derivatives and embedded derivatives	5		(10)		5
Reinsurance related embedded derivatives	(128)		352		34
Total net investment gains (losses)	$	24	$	(515)	$	654

Benefits and other changes in policy reserves:
FIA/ IUL embedded derivatives increase (decrease)	$	1,143	$	(768)	$	479

Information Regarding Exposure to Credit Loss on Call Options Held

Information regarding our exposure to credit loss on the call options and interest rate swaps we hold is presented in the following table:


		December 31, 2023
Counterparty	Credit Rating (Fitch/Moody's/S&P) (a)	Notional Amount		Fair Value		Collateral		Net Credit Risk
		(In millions)
Merrill Lynch	AA/*/A+	$	4,408	$	96	$	59	$	37

Morgan Stanley	AA-/Aa3/A+	3,466		102		116		—
Barclay's Bank	A+/A1/A+	6,236		102		100		2
Canadian Imperial Bank of Commerce	AA-/A2/A-	5,983		147		148		—
Wells Fargo	AA-/Aa2/A+	1,443		58		60		—
Goldman Sachs	A+/A1/A+	1,919		45		45		—
Credit Suisse	A+/A3/A+	92		4		4		—
Truist	A+/A2/A	2,759		124		124		—
Citibank	A+/Aa3/A+	1,073		27		28		—
JP Morgan	AA/Aa2/A+	2,589		91		91		—
Total		$	29,968	$	796	$	775	$	39


		December 31, 2022
Counterparty	Credit Rating (Fitch/Moody's/S&P)(a)	Notional Amount		Fair Value		Collateral		Net Credit Risk
		(In millions)
Merrill Lynch	AA/*/A+	$	3,563	$	23	$	—	$	23

Morgan Stanley	*/Aa3/A+	1,699		14		19		—
Barclay's Bank	A+/A1/A	6,049		65		59		6
Canadian Imperial Bank of Commerce	AA/Aa2/A+	5,169		68		64		4
Wells Fargo	A+/A1/BBB+	1,361		17		17		—
Goldman Sachs	A/A2/BBB+	1,133		9		10		—
Credit Suisse	BBB+/A3/A-	1,039		5		5		—
Truist	A+/A2/A	2,489		35		36		—
Citibank	A+/Aa3/A+	795		8		9		—

Total		$	23,297	$	244	$	219	$	33

(a) An * represents credit ratings that were not available.

Regulation and Equity

12 Months Ended

Dec. 31, 2023

Insurance [Abstract]

Regulation and Equity

Summary of Reserve for Title Claim Losses

A summary of the reserve for title claim losses follows:


	Year Ended December 31,
	2023			2022			2021
	(Dollars in millions)
Beginning balance	$	1,810		$	1,883		$	1,623

Change in insurance recoverable	15			(128)			94
Claim loss provision related to:
Current year	207			308			385
Prior years	—			—			—
Total title claim loss provision	207			308			385
Claims paid, net of recoupments related to:
Current year	(22)			(21)			(14)
Prior years	(240)			(232)			(205)
Total title claims paid, net of recoupments	(262)			(253)			(219)
Ending balance of claim loss reserve for title insurance	$	1,770		$	1,810		$	1,883
Provision for title insurance claim losses as a percentage of title insurance premiums	4.5		%	4.5		%	4.5		%

Several lawsuits have been filed by various parties against Chicago Title Company and Chicago Title Insurance Company as its principal (collectively, the “Named Companies”). Generally, plaintiffs claim they are investors who were solicited by Gina Champion-Cain through her former company, ANI Development LLC (“ANI”), or other affiliates to provide funds that purportedly were to be used for high-interest, short-term loans to parties seeking to acquire California alcoholic beverage licenses. Plaintiffs contend they were told that under California state law, alcoholic beverage license applicants are required to deposit into escrow an amount equal to the license purchase price while their applications remain pending with the State. Plaintiffs further alleged that employees of Chicago Title Company participated with Ms. Champion-Cain and her entities in a fraud scheme involving an escrow account maintained by Chicago Title Company into which some of the plaintiffs’ funds were deposited.

In connection with the alcoholic beverage license scheme, a lawsuit styled, Securities and Exchange Commission v. Gina Champion-Cain and ANI Development, LLC, was filed in the United States District Court for the Southern District of California asserting claims for securities fraud against Ms. Champion-Cain and certain of her affiliated entities. A receiver was appointed by the court to preserve the assets of the defendant affiliated entities (the “receivership entities”), pay their debts, operate the businesses and pursue any claims they may have against third-parties. Pursuant to the authority granted to her by the federal court, on January 7, 2022, a lawsuit styled, Krista Freitag v. Chicago Title Co. and Chicago Title Ins. Co., was filed in San Diego County Superior Court by the receiver on behalf of the receivership entities against the Named Companies. The receiver sought compensatory, incidental, consequential, and punitive damages, and the recovery of attorneys’ fees. In turn, the Named Companies petitioned the federal court to sue ANI, via the receiver, to pursue indemnity and other claims against the receivership entities as joint tortfeasors, which was granted.

On April 26, 2022, the Named Companies reached a global settlement with the receiver and several other investor claimants. As a condition of the settlement, the Named Companies and the receiver jointly sought court approval of the global settlement and entry of an order barring any claims against the Named Companies related to the alcoholic beverage license scheme. On November 23, 2022, the federal court overruled any objections by non-joining investors and entered an order approving the global settlement and barring further claims against the Named Companies (“Settlement and Bar Order”). The receiver’s lawsuit against the Named Companies has been dismissed. The receiver is in receipt of the settlement payment from Chicago Title Company and will distribute the amount designated for each non-joining investor at the conclusion of any such investor’s appeal of the Settlement and Bar Order (or back to Chicago Title Company if an appeal is successful). Some of the investor claimants who objected to entry of the Settlement and Bar Order appealed the decision to the United States Court of Appeals for the Ninth Circuit by (Cases 22-56206, 22-56208, and 23-55083), and appellate oral argument is expected to be held later this year. After filing its appeal, one of the appellants, CalPrivate Bank (Case 23-55083), entered into a settlement with the receiver that was approved by the federal court. This settlement resolves CalPrivate Bank’s objections to the Settlement and Bar Order, and its appeal has been dismissed.

The following lawsuits remain pending in the Superior Court of San Diego County for the State of California, all of which involve investor claimants who have claims against the Named Companies, objected to the settlement with the receiver, and have appealed the Settlement and Bar Order. Since any pending and future claims against the Named Companies are barred, the state court cases where plaintiffs have served a notice of appeal have been stayed pending the outcome of the appeals, and the claims against the Named Companies by non-appealing plaintiffs have been dismissed with prejudice. While they have not been

consolidated into one action, they have been deemed by the court to be related and are assigned to the same judge for purposes of judicial economy.

On December 13, 2019, a lawsuit styled, Kim Funding, LLC, Kim H. Peterson, Joseph J. Cohen, and ABC Funding Strategies, LLC v. Chicago Title Co., Chicago Title Ins. Co., Thomas Schwiebert, Adelle Ducharme, and Betty Elixman, was filed in San Diego County Superior Court. Plaintiffs claim losses of more than $250 million as a result of the alleged fraud scheme, and also seek statutory, treble, and punitive damages, as well as the recovery of attorneys' fees. The Named Companies have filed a cross-complaint against Ms. Champion-Cain, and others. The Named Companies have reached a conditional settlement with the members of ABC Funding Strategies, LLC plaintiffs under confidential terms.

On July 7, 2020, a cross-claim styled, Laurie Peterson v. Chicago Title Co., Chicago Title Ins. Co., Thomas Schwiebert, Adelle Ducharme, and Betty Elixman, was filed in an existing lawsuit styled, Banc of California, National Association v. Laurie Peterson, which is pending in San Diego County Superior Court. Cross-complaint plaintiff was sued by a bank to recover in excess of $35 million that she allegedly guaranteed to repay for certain investments made by the Banc of California in the alcoholic beverage license scheme. Cross-complaint plaintiff has, in turn, sued the Named Companies in that action seeking in excess of $250 million in monetary losses as well as exemplary damages and attorneys’ fees. The Named Companies filed a cross-complaint against Ms. Champion-Cain, and others, and the Named Companies were substituted in as the Plaintiff following a settlement with the bank.

On September 3, 2020, a cross-claim styled, Kim H. Peterson Trustee of the Peterson Family Trust dated April 14 1992 v. Chicago Title Co., Chicago Title Ins. Co., Thomas Schwiebert, Adelle Ducharme, and Betty Elixman, was filed in an existing lawsuit styled, CalPrivate Bank v. Kim H. Peterson Trustee of the Peterson Family Trust dated April 14 1992, which is pending in Superior Court of San Diego County for the State of California. Cross-complaint plaintiff was sued by a bank to recover in excess of $12 million that the trustee allegedly guaranteed to repay for certain investments made by CalPrivate Bank in the alcoholic beverage license scheme. Cross-complaint plaintiff has, in turn, sued the Named Companies in that action seeking in excess of $250 million in monetary losses as well as exemplary damages and attorneys’ fees. As a result of the receiver’s settlement with CalPrivate Bank, the receiver has been substituted in as the plaintiff in the suit against the trustee.

On November 2, 2020, a lawsuit styled, CalPrivate Bank v. Chicago Title Co. and Chicago Title Ins. Co., was also filed in the Superior Court of San Diego County for the State of California. Plaintiff claims losses in excess of $12 million based upon business loan advances made in the alcoholic beverage license scheme and seeks punitive damages and the recovery of attorneys’ fees. The Named Companies have filed a cross-complaint against Ms. Champion-Cain, and others. Given CalPrivate Bank’s settlement with the receiver, this action against the Named Companies will be dismissed.

Chicago Title Company has also resolved a number of other pre-suit claims and previously-disclosed lawsuits from both individual and groups of alleged investors under confidential terms. Based on the facts and circumstances of the remaining claims, including the settlements already reached, we have recorded reserves included in our reserve for title claim losses, which we believe are adequate to cover losses related to this matter, and believe that our reserves for title claim losses are adequate.

We continually update loss reserve estimates as new information becomes known, new loss patterns emerge or as other contributing factors are considered and incorporated into the analysis of reserve for claim losses. Estimating future title loss payments is difficult because of the complex nature of title claims, the long periods of time over which claims are paid, significantly varying dollar amounts of individual claims and other factors.

Due to the uncertainty inherent in the process and to the judgment used by management, the ultimate liability may be greater or less than our current reserves. If actual claims loss development varies from what is currently expected and is not offset by other factors, it is possible that additional reserve adjustments may be required in future periods in order to maintain our recorded reserve within a reasonable range of our actuary's central estimate.

Regulation and Equity

Regulation

Title

Our insurance subsidiaries, including title insurers, underwritten title companies and insurance agencies, are subject to extensive regulation under applicable state laws. Each of the insurance underwriters is subject to a holding company act in its state of domicile that regulates, among other matters, the ability to pay dividends and enter into transactions with affiliates. The laws of most states in which we transact business establish supervisory agencies with broad administrative powers relating to issuing and revoking licenses to transact business, regulating trade practices, licensing agents, approving policy forms, accounting practices, financial practices, establishing reserve and capital and surplus as regards policyholders (“capital and surplus”) requirements, defining suitable investments for reserves and capital and surplus and approving rate schedules. The process of state regulation of changes in rates ranges from states that set rates, to states where individual companies or associations of companies prepare rate filings that are submitted for approval, to a few states in which rate changes do not need to be filed for approval.

Since we are regulated by both state and federal governments and the applicable insurance laws and regulations are constantly subject to change, it is not possible to predict the potential effects on our insurance operations, particularly the Title segment, of any laws or regulations that may become more restrictive in the future or if new restrictive laws will be enacted.

Statutory-basis financial statements are prepared in accordance with accounting practices prescribed or permitted by the various state insurance regulatory authorities. The National Association of Insurance Commissioners' (“NAIC”) Accounting Practices and Procedures manual (“NAIC SAP”) has been adopted as a component of prescribed or permitted practices by each of the states that regulate us. Each of our states of domicile for our title insurance underwriter subsidiaries have adopted a material prescribed accounting practice that differs from that found in NAIC SAP. Specifically, in both years, the timing of amounts released from the statutory unearned premium reserve under NAIC SAP differs from the states' required practice. Statutory surplus at December 31, 2023 and 2022 was lower by approximately $34 million and $32 million than if we had reported such amounts in accordance with NAIC SAP.

Pursuant to statutory accounting requirements of the various states in which our insurers are domiciled, these insurers must defer a portion of premiums earned as an unearned premium reserve for the protection of policyholders and must maintain qualified assets in an amount equal to the statutory requirements. The level of unearned premium reserve required to be maintained at any time is determined by statutory formula based upon either the age, number of policies and dollar amount of policy liabilities underwritten, or the age and dollar amount of statutory premiums written. As of December 31, 2023, the combined statutory unearned premium reserve required and reported for our title insurers was $1,659 million. In addition to statutory unearned premium reserves, each of our insurers maintains reserves for known claims and surplus funds for policyholder protection and business operations.

Each of our insurance subsidiaries is regulated by the insurance regulatory authority in its respective state of domicile, as well as that of each state in which it is licensed. The insurance commissioners of their respective states of domicile are the primary regulators of our title insurance subsidiaries. Each of the insurers is subject to periodic regulatory financial examination by regulatory authorities.

Our insurance subsidiaries are subject to regulations that restrict their ability to pay dividends or make other distributions of cash or property to their immediate parent company without prior approval from the Department of Insurance of their respective states of domicile. As of December 31, 2023, $1,145 million of our net assets are restricted from dividend payments without prior approval from the Departments of Insurance. During 2024, our title insurers can pay or make distributions to us of approximately $471 million, without prior approval.

The combined statutory capital and surplus of our title insurers was approximately $1,225 million and $1,350 million as of December 31, 2023 and 2022, respectively. The combined statutory net earnings of our title insurance subsidiaries were $503 million, $778 million, and $936 million for the years ended December 31, 2023, 2022, and 2021, respectively.

As a condition to continued authority to underwrite policies in the states in which our insurers conduct their business, the insurers are required to pay certain fees and file information regarding their officers, directors and financial condition. In addition, our escrow and trust business is subject to regulation by various state banking authorities.

Pursuant to statutory requirements of the various states in which our insurers are domiciled, such insurers must maintain certain levels of minimum capital and surplus. Required levels of minimum capital and surplus are not significant to the insurers individually or in the aggregate. Each of our insurers has complied with the minimum statutory requirements as of December 31, 2023.

Our underwritten title companies, primarily those domiciled in California, are also subject to certain regulation by insurance regulatory or banking authorities relating to their net worth and working capital. Minimum net worth and working capital requirements for each underwritten title company is less than $1 million. These companies were in compliance with their respective minimum net worth and working capital requirements at December 31, 2023.

There are no restrictions on our retained earnings regarding our ability to pay dividends to shareholders although there are limits on the ability of certain subsidiaries to pay dividends to us, as described above.

F&G

Through our wholly owned F&G subsidiary, our insurance subsidiaries, FGL Insurance, FGL NY Insurance, Raven Re and Corbeau Re file financial statements with state insurance regulatory authorities and, with the exception of Raven Re, with the National Association of Insurance Commissioners (“NAIC”) that are prepared in accordance with Statutory Accounting Principles (“SAP”) prescribed or permitted by such authorities, which may vary materially from GAAP. Prescribed SAP includes the Accounting Practices and Procedures Manual of the NAIC as well as state laws, regulations and administrative rules. Permitted SAP encompasses all accounting practices not so prescribed. The principal differences between SAP financial statements and financial statements prepared in accordance with GAAP are that SAP financial statements do not reflect VOBA, DAC, and DSI, some bond portfolios may be carried at amortized cost, assets and liabilities are presented net of reinsurance, contractholder liabilities are generally valued using more conservative assumptions and certain assets are non-admitted. Accordingly, SAP operating results and SAP capital and surplus may differ substantially from amounts reported in the GAAP basis financial statements for comparable items.

In or F&G segment, our principal insurance subsidiaries' statutory (SAP and GAAP) financial statements are based on a December 31 year end. Statutory net income and statutory capital and surplus of our wholly owned U.S. regulated insurance subsidiaries were as follows:


	Subsidiary (state of domicile) (a)
	FGL Insurance (IA)		FGL NY Insurance (NY)		Raven Re (VT)		Corbeau Re (VT)
Statutory Net income (loss):	(In millions)
Year ended December 31, 2023	$	(462)	$	5	$	60	$	(644)
Year ended December 31, 2022	(243)		(15)		(111)		—
Year ended December 31, 2021	351		4		3		—

Statutory Capital and Surplus:
December 31, 2023	$	2,009	$	86	$	140	$	171
December 31, 2022	1,877		82		121		—

(a) FGL NY Insurance, Raven Re and Corbeau Re are subsidiaries of FGL Insurance, and the columns should not be added together. Corbeau Re was incorporated on September 1, 2023.

Regulation - U.S. Companies

FGL Insurance, FGL NY Insurance, Raven Re's and Corbeau Re’s respective statutory capital and surplus satisfy the applicable minimum regulatory requirements.

In order to enhance the regulation of insurers’ solvency, the NAIC adopted a model law to implement RBC requirements for life, health and property and casualty insurance companies. All states have adopted the NAIC’s model law or a substantially similar law. RBC is used to evaluate the adequacy of capital and surplus maintained by an insurance company in relation to risks associated with: (i) asset risk, (ii) insurance risk, (iii) interest rate risk, and (iv) business risk. As of the most recent annual statutory financial statements filed with insurance regulators, the RBC ratios for FGL Insurance and FGL NY Insurance each exceeded the minimum RBC requirements.

Dividends

The insurance laws of Iowa and New York regulate the amount of dividends that may be paid in any year by FGL Insurance and FGL NY Insurance, respectively.

Pursuant to Iowa insurance law, ordinary dividends are payments, together with all other such payments within the preceding twelve months, that do not exceed the greater of (i) 10% of FGL Insurance’s statutory surplus as regards policyholders as of December 31 of the preceding year; or (ii) the net gain from operations of FGL Insurance (excluding realized capital gains) for the 12-month period ending December 31 of the preceding year.

Dividends in excess of FGL Insurance’s ordinary dividend capacity are referred to as extraordinary and require prior approval of the Iowa Insurance Commissioner. FGL Insurance may only pay dividends out of statutory earned surplus. FGL Insurance did not pay extraordinary dividends to FGAL for the years ended December 31, 2023 and 2022, and paid extraordinary dividends of $38 million during the year ended December 31, 2021.

Each year, FGL NY Insurance may pay a certain limited amount of ordinary dividends or other distributions without being required to obtain the prior consent of or the New York State Department of Financial Services (“NYDFS”). However, to pay any dividends or distributions (including the payment of any dividends or distributions for which prior consent is not required), FGL NY Insurance must provide advance written notice to the NYDFS. FGL NY Insurance has historically not paid dividends.

Prescribed and permitted practices

FGL Insurance - FGL Insurance applies Iowa-prescribed accounting practices prescribed by 191 Iowa Administrative Code 97, “Accounting for Certain Derivative Instruments Used to Hedge the Growth in Interest Credited for Indexed Insurance Products and Accounting for the Indexed Insurance Products Reserve”, for its FIA products, and as of October 1, 2022, IUL products. Under these alternative accounting practices, the call option derivative instruments that hedge the growth in interest credited on index products are accounted for at amortized cost with the corresponding amortization recorded as a decrease to net investment income and indexed annuity reserves are calculated based on Standard Valuation Law and Actuarial Guideline XXXV assuming the market value of the call options associated with the current index term is zero regardless of the observable market value for such options. This resulted in a $178 million increase and a $152 million decrease to statutory capital and surplus at December 31, 2023 and 2022, respectively.

In addition, based on a permitted practice received from the Iowa Insurance Division, FGL Insurance carries one of its limited partnership interests which qualifies for accounting under SSAP No. 48, “Investments in Joint Ventures, Partnerships and Limited Liability Companies”, on a net asset value per share basis. This is a departure from SSAP No. 48 which requires such investments to be carried based on the investees underlying U.S. GAAP equity (prior to any impairment considerations). This resulted in increases to statutory capital and surplus of $16 million and $13 million at December 31, 2023 and 2022, respectively.

FGL Insurance’s statutory carrying value of Raven Re reflects the effect of permitted practices Raven Re received to treat the available amount of a letter of credit as an admitted asset, which increased Raven Re’s statutory capital and surplus by $200 million at December 31, 2023 and 2022. In addition, FGL Insurance’s statutory carrying value of Corbeau Re reflects the effect of permitted practices Corbeau Re received to treat the excess of loss as an admitted asset, which increased Corbeau Re’s statutory capital and surplus by $765 million at December 31, 2023.

Raven Re - Raven Re is also permitted to follow Iowa prescribed statutory accounting practice for its reserves on reinsurance assumed from FGL Insurance and also has approval to include as an admitted asset the value of a letter of credit serving as collateral for reinsurance credit taken by FGL Insurance. Without such permitted statutory accounting practices, Raven Re’s statutory capital and surplus (deficit) would be $(89) million and $(107) million as of December 31, 2023 and 2022, respectively, and its risk-based capital would fall below the minimum regulatory requirements. The letter of credit facility is collateralized by NAIC 1 rated debt securities. If the permitted practice was revoked, the letter of credit could be replaced by the collateral assets with Nomura’s consent (refer to discussion of letter of credit in Note E- Reinsurance). FGL Insurance’s statutory carrying value of Raven Re was $140 million and $121 million at December 31, 2023 and 2022, respectively.

Corbeau Re - Corbeau Re has four permitted practices pursuant to Vermont Statute, Title 8, Chapter 141 – (8 V.S.A. § 6048k(a)(2), whereby the Vermont Department authorizes the Company to (i) account for the amount equal to the excess of loss amount (“XOL Asset”) as an asset on its statutory financial statements; (ii) calculate the reserves with respect to the Retirement Pro Contracts in accordance with the following reserving methodology: the reserves are calculated as the present value of reinsured benefits when account value equals zero less the present value of reinsurance premiums from the winning integrated stream, floored at zero and capped as necessary to keep the net statutory reserve at the net cash surrender value. For benefits associated with all other contracts (“the GMWB Riders”), the reserves are calculated as the statutory reserves for the entire contract (i.e., the base contracts plus the GMWB Riders) minus the statutory reserves for the base contracts only (“Reserve Calculation Permitted Practice”); (iii) calculate its company action level risk-based capital as defined in Section 8301(13)(A) and, calculated using the risk-based capital factors and formulas prescribed by the NAIC, applying a factor of 0.62% to the XOL Asset Value; and (iv) annually perform a total company solvency analysis in lieu of cash flow testing and actuarial opinion and memorandum under Section 2010-2 of the Vermont Administrative Code. Without such permitted statutory accounting practices, the Company’s statutory capital and surplus (deficit) would be $(594) million as of December 31, 2023,

and its risk-based capital would fall below the minimum regulatory requirements. FGL Insurance’s statutory carrying value of Corbeau Re was $171 million at December 31, 2023

FGL NY Insurance - As of December 31, 2023 and 2022, FGL NY Insurance did not follow any prescribed or permitted statutory accounting practices that differ from the NAIC's statutory accounting practices.

Non-U.S. Companies

Net income and capital and surplus of our wholly owned Bermuda and Cayman Islands regulated insurance subsidiaries under U.S. GAAP were as follows (in millions):


	Subsidiary (country of domicile)
	F&G Cayman Re (Cayman Islands)		F&G Life Re (Bermuda)
Statutory Net income (loss):
Year ended December 31, 2023	$	384	$	151
Year ended December 31, 2022	(299)		(339)
Year ended December 31, 2021	99		94
Statutory Capital and Surplus (Deficit):
December 31, 2023	$	114	$	11
December 31, 2022	(126)		(138)

Equity

On August 3, 2021, our Board of Directors approved the 2021 Repurchase Program under which we may purchase up to 25 million shares of our FNF common stock through July 31, 2024, replacing the prior stock repurchase program that expired on July 31, 2021. We may make repurchases from time to time in the open market, in block purchases or in privately negotiated transactions, depending on market conditions and other factors. During the year ended December 31, 2023, we repurchased a total of 100,000 FNF common shares for an aggregate of $4 million or an average of $38.45 per share.

Regulation and Equity - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2024
Statutory Accounting Practices [Line Items]
Change in statutory capital surplus	$ 34	$ 32
Combined statutory unearned premium reserve required	1,659
Net assets restricted from dividend payments without prior approval	1,145
Statutory capital and surplus	1,225	1,350
Statutory net income	503	778	$ 936
Minimum net worth required for compliance	1
Dividends paid with approval of Iowa Commissioner			$ 38
Corbeau Re
Statutory Accounting Practices [Line Items]
Change in statutory capital surplus	765
Non-permitted statutory accounting practices deficit	(594)
Statutory capital and surplus	171
IOWA
Statutory Accounting Practices [Line Items]
Change in statutory capital surplus	16	13
Increase (decrease) in statutory capital surplus	178	(152)
Statutory capital and surplus	2,009	1,877
VERMONT \| Corbeau Re
Statutory Accounting Practices [Line Items]
Statutory capital and surplus		0
VERMONT \| Raven Re
Statutory Accounting Practices [Line Items]
Statutory capital and surplus	140	121
VERMONT \| Raven Re
Statutory Accounting Practices [Line Items]
Change in statutory capital surplus		200
Statutory capital and surplus	140	121
Non-permitted statutory accounting practices deficit	(89)	(107)
New York
Statutory Accounting Practices [Line Items]
Statutory capital and surplus	$ 86	$ 82
Forecast
Statutory Accounting Practices [Line Items]
Statutory amount available for distributions without prior approval				$ 471

CONSOLIDATED STATEMENTS OF EQUITY - USD ($)
$ in Millions

Total

F&G

Common Stock

Additional Paid-in Capital

F&G

Retained Earnings

Accumulated Other Comprehensive Earnings (Loss)

Treasury Stock

Non-controlling Interests

F&G

Beginning balance at Dec. 31, 2020

$ 8,493

$ 0

$ 5,720

$ 2,468

$ 1,331

$ (1,067)

$ 41

Beginning balance (in shares) at Dec. 31, 2020

322,000,000

Beginning balance, Treasury stock (in shares) at Dec. 31, 2020

31,000,000

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Exercise of stock options (in shares)

2,000,000

Exercise of stock options

Treasury stock repurchased

(461)

$ (461)

Treasury stock repurchased (in shares)

10,000,000

Issuance of restricted stock (in shares)

1,000,000

Purchase of incremental share in consolidated subsidiaries/F&G purchase of F&G stock

Other comprehensive earnings - unrealized gain (loss) on investments and other financial instruments

(499)

Unrealized gain on investments in unconsolidated affiliates

^[1]

Other comprehensive earnings - unrealized gain (loss) on foreign currency translation

(6)

^[2]

(6)

Other comprehensive earnings - minimum pension liability adjustment

(7)

Reclassification adjustments for change in unrealized gains and losses included in net earnings

(101)

^[3]

(101)

Stock-based compensation

Dividends declared

(447)

Shares withheld for taxes and in treasury

(17)

$ (17)

Change in reinsurance liabilities held at fair value resulting from a change in the instrument-specific credit risk

Other comprehensive earnings attributable to non-controlling interest

Changes in current discount rate - future policy benefit

124

^[4]

124

Changes in instrument-specific credit risk - market risk benefits

^[5]

Subsidiary dividends declared to non-controlling interests

(19)

Net earnings

2,817

2,797

Ending balance (in shares) at Dec. 31, 2021

325,000,000

Ending balance at Dec. 31, 2021

10,004

$ 0

5,810

4,818

878

$ (1,545)

Ending balance, Treasury stock (in shares) at Dec. 31, 2021

42,000,000

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Exercise of stock options (in shares)

2,000,000

Exercise of stock options

Non-controlling interest associated with current period acquisitions

Treasury stock repurchased

(549)

$ (549)

Treasury stock repurchased (in shares)

13,000,000

Issuance of restricted stock (in shares)

1,000,000

Purchase of incremental share in consolidated subsidiaries/F&G purchase of F&G stock

(14)

(3)

(11)

Other comprehensive earnings - unrealized gain (loss) on investments and other financial instruments

(4,783)

Unrealized gain on investments in unconsolidated affiliates

^[1]

Other comprehensive earnings - unrealized gain (loss) on foreign currency translation

(18)

^[2]

(18)

Other comprehensive earnings - minimum pension liability adjustment

Reclassification adjustments for change in unrealized gains and losses included in net earnings

173

^[3]

173

Stock-based compensation

Dividends declared

(490)

Shares withheld for taxes and in treasury

(15)

$ (15)

Shares withheld for taxes and in treasury (in shares)

Change in reinsurance liabilities held at fair value resulting from a change in the instrument-specific credit risk

Other comprehensive earnings attributable to non-controlling interest

(9)

(35)

Changes in current discount rate - future policy benefit

764

^[4]

764

Changes in instrument-specific credit risk - market risk benefits

^[5]

Distribution of 15% of the common stock of F&G

(24)

(397)

421

Subsidiary dividends declared to non-controlling interests

(24)

Net earnings

1,306

1,294

Ending balance (in shares) at Dec. 31, 2022

328,000,000

Ending balance at Dec. 31, 2022

$ 6,569

$ 0

5,870

5,225

(2,870)

$ (2,109)

453

Ending balance, Treasury stock (in shares) at Dec. 31, 2022

55,447,459

55,000,000

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Exercise of stock options (in shares)

Exercise of stock options

$ 15

Treasury stock repurchased

(4)

$ (4)

Treasury stock repurchased (in shares)

Issuance of restricted stock (in shares)

1,000,000

Purchase of incremental share in consolidated subsidiaries/F&G purchase of F&G stock

(19)

$ (19)

(11)

$ (1)

(8)

$ (18)

Other comprehensive earnings - unrealized gain (loss) on investments and other financial instruments

961

Unrealized gain on investments in unconsolidated affiliates

^[1]

Other comprehensive earnings - unrealized gain (loss) on foreign currency translation

^[2]

Other comprehensive earnings - minimum pension liability adjustment

Reclassification adjustments for change in unrealized gains and losses included in net earnings

126

^[3]

126

Stock-based compensation

Dividends declared

(498)

Shares withheld for taxes and in treasury

(17)

$ (17)

Shares withheld for taxes and in treasury (in shares)

1,000,000

Change in reinsurance liabilities held at fair value resulting from a change in the instrument-specific credit risk

Other comprehensive earnings attributable to non-controlling interest

$ (15)

(134)

149

Changes in current discount rate - future policy benefit

(189)

^[4]

(189)

Changes in instrument-specific credit risk - market risk benefits

(34)

^[5]

(34)

Subsidiary dividends declared to non-controlling interests

(29)

Net earnings

518

517

Ending balance (in shares) at Dec. 31, 2023

329,000,000

Ending balance at Dec. 31, 2023

$ 7,460

$ 0

$ 5,913

$ 5,244

$ (2,119)

$ (2,130)

$ 552

Ending balance, Treasury stock (in shares) at Dec. 31, 2023

55,934,467

56,000,000

[1]	Net of income tax expense of $3 million, $3 million, and $7 million for the years ended December 31, 2023, 2022, and 2021, respectively.
[2]	Net of income tax expense (benefit) of $2 million and $(4) million, for the years ended December 31, 2023 and 2022, respectively.
[3]	Net of income tax expense (benefit) of $34 million, $45 million and $(26) million for the years ended December 31, 2023, 2021 and 2021, respectively.
[4]	Net of income tax (benefit) expense of $(50) million, $203 million and $33 million for the years ended December 31, 2023, 2021 and 2021, respectively
[5]	Net of income tax (benefit) expense of $(9) million, $18 million and $3 million for the years ended December 31, 2023, 2021 and 2021, respectively.

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Available-for-sale securities, amortized cost, net	$ 45,606	$ 37,708
Available for sale securities, allowance for credit losses	42	39
Available-for-sale securities, pledged securities, secured trust deposits	489	448
Mortgage loans, allowance for credit loss	66	42
Short-term investments, pledged, secured trust deposits	1	6
Cash, pledged, secured trust deposits	262	242
Allowance for doubtful accounts, premiums and other receivables	32	33
Expected credit losses on reinsurance recoverable	$ 21	$ 10
Common stock, par value per share (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	600,000,000	600,000,000
Common stock, shares, outstanding (in shares)	273,251,449	272,309,890
Common stock, shares, issued (in shares)	329,185,916	327,757,349
Preferred stock, par or stated value per share (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Treasury stock (in shares)	55,934,467	55,447,459

Property and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
Property and Equipment (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 544	$ 670
Accumulated depreciation and amortization	(376)	(491)
Property and equipment, net	168	179
Depreciation	55	59	$ 45
Furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	163	235
Data processing equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	145	212
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	121	118
Buildings
Property, Plant and Equipment [Line Items]
Property and equipment, gross	95	84
Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	14	14
Other
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 6	$ 7

Commitments and Contingencies - Narrative (Details) shares in Thousands, $ in Millions			1 Months Ended
	Sep. 07, 2023 lawsuit	Apr. 19, 2023 USD ($)	Aug. 31, 2020 shares	Dec. 31, 2023 USD ($) lawsuit	Dec. 31, 2022 USD ($)	Oct. 31, 2021 USD ($)
Other Commitments [Line Items]
Estimated litigation liability				$ 10	$ 12
Escrow balances				$ 13,500	$ 18,900
Damages from Product Defects
Other Commitments [Line Items]
Similar lawsuits (more than) \| lawsuit				150
Kubera
Other Commitments [Line Items]
Note funding, maximum						$ 300
Pending Litigation \| Damages from Product Defects
Other Commitments [Line Items]
Putative class action lawsuits \| lawsuit				2
Matter of FGL Holdings
Other Commitments [Line Items]
Number of shares in which statutory appraisal rights have been claimed (in shares) \| shares			12,000
Matter of FGL Holdings \| Settled Litigation
Other Commitments [Line Items]
Interim payment for lawsuit		$ 4
Cooper v. Progress Software Corp., No. 1:23-cv-12067
Other Commitments [Line Items]
Other defendants \| lawsuit	5

Property and Equipment

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment


Property and equipment consist of the following:
	December 31,
	2023		2022
	(In millions)
Furniture, fixtures and equipment	$	163	$	235
Data processing equipment	145		212
Leasehold improvements	121		118
Buildings	95		84
Land	14		14
Other	6		7
Total property and equipment, gross	544		670
Accumulated depreciation and amortization	(376)		(491)
Total property and equipment, net	$	168	$	179

Depreciation expense on property and equipment was $55 million, $59 million and $45 million for the years ended December 31, 2023, 2022 and 2021, respectively.

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical)	12 Months Ended
CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical)	Dec. 31, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Dividend to shareholders, pro rata percentage of common stock	15.00%	15.00%

Employee Benefit Plans - Stock Option Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
The Omnibus Plan
Options (in shares):
Stock options outstanding at beginning of period (in shares)	0	996,113	2,321,413
Exercised (in shares)	0	(996,113)	(1,325,300)
Stock options outstanding at end (in shares)	0	0	996,113
Weighted Average Exercise Price (in dollars per share):
Stock options outstanding at beginning of period (USD per share)	$ 0	$ 25.53	$ 24.24
Exercised (USD per share)	0	25.53	23.28
Stock options outstanding at end of period (USD per share)	$ 0	$ 0	$ 25.53
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Options exercisable (in shares)	0	0	996,113	2,321,413
F&G Omnibus Plan
Options (in shares):
Stock options outstanding at beginning of period (in shares)	1,172,607	1,527,936	2,002,690
Exercised (in shares)	(502,414)	(352,614)	(474,754)
Canceled (in shares)	(26,570)	(2,715)	0
Stock options outstanding at end (in shares)	643,623	1,172,607	1,527,936
Weighted Average Exercise Price (in dollars per share):
Stock options outstanding at beginning of period (USD per share)	$ 35.15	$ 35.97	$ 36.14
Exercised (USD per share)	30.31	38.79	36.68
Cancelled (USD per share)	38.07	28.00	0
Stock options outstanding at end of period (USD per share)	$ 38.80	$ 35.15	$ 35.97
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Options exercisable (in shares)	643,623	1,172,607	1,072,584	1,021,671

Market Risk Benefits (Tables)

12 Months Ended

Dec. 31, 2023

Insurance [Abstract]

Balances and Changes in Market Risk Benefit

The following table presents the balances of and changes in MRBs associated with FIAs and fixed rate annuities for the years ended December 31, 2023, December 31, 2022, and December 31, 2021:


	December 31, 2023				December 31, 2022				December 31, 2021
	FIA		Fixed rate annuities		FIA		Fixed rate annuities		FIA		Fixed rate annuities
	(Dollars in millions)
Balance, beginning of period, net liability	$	164	$	1	$	426	$	2	$	478	$	1

Balance, beginning of period, before effect of changes in the instrument-specific credit risk	$	102	$	1	$	280	$	1	$	320	$	1
Issuances and benefit payments	(10)		—		(21)		—		(9)		—
Attributed fees collected and interest accrual	131		—		107		1		99		1
Actual policyholder behavior different from expected	27		—		43		—		(22)		—
Changes in assumptions and other	29		—		(76)		—		—		—


Effects of market related movements	(70)		—		(231)		(1)		(108)		(1)
Balance, end of period, before effect of changes in the instrument-specific credit risk	$	209	$	1	$	102	$	1	$	280	$	1
Effect of changes in the instrument-specific credit risk	105		—		62		—		146		1
Balance, end of period, net liability	$	314	$	1	$	164	$	1	$	426	$	2



Weighted-average attained age of policyholders weighted by total AV (years)	68.28		72.59		68.59		72.88		68.95		73.10
Net amount at risk	$	1,059	$	2	$	952	$	3	$	1,304	$	4

The following table reconciles MRBs by amounts in an asset position and amounts in a liability position to the MRBs amounts in the Consolidated Balance Sheets:


	December 31, 2023						December 31, 2022						December 31, 2021
	Asset		Liability		Net		Asset		Liability		Net		Asset		Liability		Net
	(In millions)
FIA	88		402		314		117		281		164		41		467		426
Fixed rate annuities	—		1		1		—		1		1		—		2		2
Total	$	88	$	403	$	315	$	117	$	282	$	165	$	41	$	469	$	428

Employee Benefit Plans - Stock Purchase Plan (Details) - Employee Stock - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock compensation expense	$ 30	$ 36	$ 24
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
ESPP, annual contributions per employee, percent	3.00%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
ESPP, annual contributions per employee, percent	15.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
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-URI https://asc.fasb.org//1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Section 50
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Regulation and Equity - Equity (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Aug. 03, 2021
Class of Stock [Line Items]
Stock repurchase program number of shares authorized (in shares)				25,000,000
Treasury stock repurchased	$ 4	$ 549	$ 461
FNF Common Stock \| Share Repurchase Program
Class of Stock [Line Items]
Treasury stock repurchased (in shares)	100,000
Treasury stock repurchased	$ 4
Treasury stock acquired (in usd per share)	$ 38.45

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 272
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
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-URI https://asc.fasb.org//1943274/2147483014/272-10-45-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 272
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Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
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-Name Accounting Standards Codification
-Section S99
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-Subparagraph (SX 210.4-08(d))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
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-Section 50
-Paragraph 13
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
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-Publisher FASB
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-Subparagraph (e)
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-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(27)(b))
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(28))
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-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(2)(ii))
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+ Details

Investments

12 Months Ended

Dec. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Investments

Our investments in fixed maturity securities have been designated as AFS, and are carried at fair value, net of allowance for expected credit losses, with unrealized gains and losses included within AOCI, net of deferred income taxes. Our preferred and equity securities investments are carried at fair value with unrealized gains and losses included in net earnings. Our consolidated investments are summarized as follows:


	December 31, 2023
	Amortized Cost		Allowance for Expected Credit Losses		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available-for-sale securities	(In millions)
Asset-backed securities	$	14,631	$	(11)	$	191	$	(469)	$	14,342
Commercial mortgage-backed securities	4,797		(22)		23		(323)		4,475
Corporates	20,133		(6)		186		(2,417)		17,896
Hybrids	668		—		3		(53)		618
Municipals	1,826		—		14		(229)		1,611
Residential mortgage-backed securities	2,507		(3)		29		(104)		2,429
U.S. Government	679		—		8		(9)		678
Foreign Governments	365		—		3		(44)		324
Total available-for-sale securities	$	45,606	$	(42)	$	457	$	(3,648)	$	42,373


	December 31, 2022
	Amortized Cost		Allowance for Expected Credit Losses		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available-for-sale securities	(In millions)
Asset-backed securities	$	12,209	$	(8)	$	36	$	(770)	$	11,467
Commercial mortgage-backed/asset-backed securities	3,337		(1)		11		(284)		3,063
Corporates	17,396		(22)		32		(3,069)		14,337
Hybrids	806		—		9		(84)		731
Municipals	1,749		—		4		(293)		1,460
Residential mortgage-backed securities	1,638		(8)		6		(109)		1,527
U.S. Government	287		—		—		(16)		271
Foreign Governments	286		—		—		(47)		239
Total available-for-sale securities	$	37,708	$	(39)	$	98	$	(4,672)	$	33,095

Securities held on deposit with various state regulatory authorities had a fair value of $141 million and $17,870 million at December 31, 2023 and December 31, 2022, respectively. The decrease in securities held on deposit with various state regulatory authorities during the year ended December 31, 2023, is primarily attributable to revisions to regulatory requirements in the state of Iowa.

As of December 31, 2023 and December 31, 2022, we held $47 million and $27 million of investments that were non-income producing for a period greater than twelve months, respectively.

As of December 31, 2023 and December 31, 2022, the Company's accrued interest receivable balance was $481 million and $365 million, respectively. Accrued interest receivable is classified within Prepaid expenses and other assets within the Consolidated Balance Sheets.

In accordance with our FHLB agreements, the investments supporting the funding agreement liabilities are pledged as collateral to secure the FHLB funding agreement liabilities and are not available to the Company for general purposes. The collateral investments had a fair value of $4,345 million and $3,387 million at December 31, 2023 and December 31, 2022, respectively.

The amortized cost and fair value of fixed maturity securities by contractual maturities, as applicable, are shown below. Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations.


	December 31, 2023				December 31, 2022
	(in millions)				(in millions)
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Corporates, Non-structured Hybrids, Municipal and Government securities:
Due in one year or less	$	703	$	687	$	536	$	527
Due after one year through five years	4,320		4,209		3,288		3,089
Due after five years through ten years	3,195		3,048		2,171		1,939
Due after ten years	15,453		13,183		14,503		11,457
	23,671		21,127		20,498		17,012
Other securities, which provide for periodic payments:
Asset-backed securities	14,631		14,342		12,209		11,467
Commercial mortgage-backed securities	4,797		4,475		3,337		3,063
Structured hybrids	—		—		26		26
Residential mortgage-backed securities	2,507		2,429		1,638		1,527
	21,935		21,246		17,210		16,083
Total fixed maturity available-for-sale securities	$	45,606	$	42,373	$	37,708	$	33,095

Allowance for Current Expected Credit Loss

We regularly review AFS securities for declines in fair value that we determine to be credit related. For our fixed maturity securities, we generally consider the following in determining whether our unrealized losses are credit related, and if so, the magnitude of the credit loss:

•The extent to which the fair value is less than the amortized cost basis;

•The reasons for the decline in value (credit event, currency or interest-rate related, including general credit spread widening);

•The financial condition of and near-term prospects of the issuer (including issuer's current credit rating and the probability of full recovery of principal based upon the issuer's financial strength);

•Current delinquencies and nonperforming assets of underlying collateral;

•Expected future default rates;

•Collateral value by vintage, geographic region, industry concentration or property type;

•Subordination levels or other credit enhancements as of the balance sheet date as compared to origination; and

•Contractual and regulatory cash obligations and the issuer's plans to meet such obligations.

We recognize an allowance for current expected credit losses on fixed maturity securities in an unrealized loss position when it is determined, using the factors discussed above, a component of the unrealized loss is related to credit. We measure the credit loss using a discounted cash flow model that utilizes the single best estimate cash flow and the recognized credit loss is limited to the total unrealized loss on the security (i.e. the fair value floor). Cash flows are discounted using the implicit yield of bonds at their time of purchase and the current book yield for asset and mortgage backed securities as well as variable rate securities. We recognize the expected credit losses in Recognized gains and losses, net in the Consolidated Statements of Earnings, with an offset for the amount of non-credit impairments recognized in AOCI. We do not measure a credit loss allowance on accrued investment income because we write-off accrued interest through Interest and investment income when collectability concerns arise.

We consider the following in determining whether write-offs of a security’s amortized cost is necessary:

• We believe amounts related to securities have become uncollectible; or

• We intend to sell a security; or

• It is more likely than not that we will be required to sell a security prior to recovery.

If we intend to sell a fixed maturity security or it is more likely than not that we will be required to sell the security before recovery of its amortized cost basis and the fair value of the security is below amortized cost, we will write down the security to current fair value, with a corresponding charge, net of any amount previously recognized as an allowance for expected credit loss, to Recognized gains and losses, net in the accompanying Consolidated Statements of Earnings. If we do not intend to sell a fixed maturity security or it is more likely than not that we will not be required to sell a fixed maturity security before recovery of its amortized cost basis but believe amounts related to a security are uncollectible , an impairment is deemed to have occurred and the amortized cost is written down to the estimated recovery value with a corresponding charge, net of any amount previously recognized as an allowance for expected credit loss, to Recognized gains and losses, net in the accompanying Consolidated Statements of Earnings. The remainder of unrealized loss is held in AOCI. As of December 31, 2023 and 2022, our allowance for expected credit losses for AFS securities was $42 million and $39 million, respectively.

The fair value and gross unrealized losses of available-for-sale securities, excluding securities in an unrealized loss position with an allowance for expected credit loss, aggregated by investment category and duration of fair value below amortized cost were as follows:


	December 31, 2023
	Less than 12 months				12 months or longer				Total
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
Available-for-sale securities	(Dollars in millions)
Asset-backed securities	$	1,707	$	(56)	$	5,835	$	(404)	$	7,542	$	(460)
Commercial mortgage-backed securities	819		(53)		1,922		(235)		2,741		(288)
Corporates	2,387		(134)		10,739		(2,283)		13,126		(2,417)
Hybrids	60		(2)		483		(51)		543		(53)
Municipals	399		(49)		920		(179)		1,319		(228)
Residential mortgage-backed securities	336		(5)		662		(89)		998		(94)
U.S. Government	84		—		159		(9)		243		(9)
Foreign Government	49		(3)		188		(41)		237		(44)
Total available-for-sale securities	$	5,841	$	(302)	$	20,908	$	(3,291)	$	26,749	$	(3,593)
Total number of available-for-sale securities in an unrealized loss position less than twelve months											1,035
Total number of available-for-sale securities in an unrealized loss position twelve months or longer											2,846
Total number of available-for-sale securities in an unrealized loss position											3,881


	December 31, 2022
	Less than 12 months				12 months or longer				Total
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
Available-for-sale securities
Asset-backed securities	$	7,001	$	(410)	$	3,727	$	(360)	$	10,728	$	(770)
Commercial mortgage-backed securities	2,079		(169)		475		(116)		2,554		(285)
Corporates	9,913		(1,735)		3,523		(1,330)		13,436		(3,065)
Hybrids	628		(83)		3		(1)		631		(84)
Municipals	998		(180)		352		(113)		1,350		(293)
Residential mortgage-backed securities	992		(51)		184		(22)		1,176		(73)
U.S. Government	130		(7)		140		(8)		270		(15)
Foreign Government	119		(32)		59		(14)		178		(46)
Total available-for-sale securities	$	21,860	$	(2,667)	$	8,463	$	(1,964)	$	30,323	$	(4,631)
Total number of available-for-sale securities in an unrealized loss position less than twelve months											3,114
Total number of available-for-sale securities in an unrealized loss position twelve months or longer											1,296
Total number of available-for-sale securities in an unrealized loss position											4,410

We determined the unrealized losses were caused by higher treasury rates compared to those at the time of the F&G acquisition or the purchase of the security if later. For securities in an unrealized loss position as of December 31, 2023, our allowance for expected credit loss was $42 million. We believe that the unrealized loss position for which we have not recorded an allowance for expected credit loss as of December 31, 2023, was primarily attributable to interest rate increases, near-term illiquidity, and other macroeconomic uncertainties as opposed to issuer specific credit concerns.

Mortgage Loans

Our mortgage loans are collateralized by commercial and residential properties.

Commercial Mortgage Loans

CMLs represented approximately 6% of our total investments at December 31, 2023 and December 31, 2022. The mortgage loans in our investment portfolio, are generally comprised of high quality commercial first lien and mezzanine real estate loans. Mortgage loans are primarily on income producing properties including industrial properties, retail buildings, multifamily properties and office buildings We diversify our CML portfolio by geographic region and property type to attempt to reduce concentration risk. We continuously evaluate CMLs based on relevant current information to ensure properties are performing at a consistent and acceptable level to secure the related debt. The distribution of CMLs, gross of valuation allowances, by property type and geographic region is reflected in the following tables:


	December 31, 2023				December 31, 2022
	Amortized Cost		% of Total		Amortized Cost		% of Total
Property Type:	(Dollars in millions)


Hotel	$	18	1	%	$	18	1	%
Industrial	616		24	%	520		22	%
Mixed Use	11		—	%	12		1	%
Multifamily	1,012		40	%	1,013		42	%
Office	316		13	%	330		14	%
Retail	102		4	%	105		4	%
Student Housing	83		3	%	83		3	%
Other	392		15	%	335		13	%
Total commercial mortgage loans, gross of valuation allowance	$	2,550	100	%	$	2,416	100	%
Allowance for expected credit loss	(12)				(10)
Total commercial mortgage loans, net of valuation allowance	$	2,538			$	2,406

U.S. Region:
East North Central	$	151	6	%	$	151	6	%
East South Central	75		3	%	76		3	%
Middle Atlantic	354		14	%	326		13	%
Mountain	352		14	%	355		15	%
New England	168		6	%	158		7	%
Pacific	766		30	%	708		28	%
South Atlantic	563		22	%	521		22	%
West North Central	4		—	%	4		1	%
West South Central	117		5	%	117		5	%

Total commercial mortgage loans, gross of valuation allowance	$	2,550	100	%	$	2,416	100	%
Allowance for expected credit loss	(12)				(10)
Total commercial mortgage loans, net of valuation allowance	$	2,538			$	2,406

CMLs segregated by aging of loans and charge offs (by year of origination) were as follows for the year ended December 31, 2023:


	December 31, 2023

	Amortized Cost by Origination Year
	2023		2022		2021		2020		2019		Prior		Total
	(In millions)
Current (less than 30 days past due)	$	213	$	288	$	1,256	$	512	$	—	$	259	$	2,528
30-89 days past due	—		—		—		—		—		—		—
90 days or more past due	—		—		—		—		—		—		—
Total commercial mortgage loans (a)	$	213	$	288	$	1256	$	512	$	—	$	259	$	2,528

Charge offs	$	—	$	—	$	—	$	—	$	—	$	3	$	3

(a) Excludes loans under development with an amortized cost and estimated fair value of $22 million at December 31, 2023.

CMLs segregated by aging of loans (by year of origination) were as follows for the year ended December 31, 2022:


	December 31, 2022

	Amortized Cost by Origination Year
	2022		2021		2020		2019		2018		Prior		Total
	(In millions)
Current (less than 30 days past due)	$	341	$	1,300	$	488	$	—	$	—	$	269	$	2,398
30-89 days past due	—		—		—		—		—		—		—
90 days or more past due	—		—		—		—		—		9		9
Total commercial mortgage loans(a)	$	341	$	1,300	$	488	$	—	$	—	$	278	$	2,407

(a) Excludes loans under development with an amortized cost and estimated fair value of $9 million at December 31, 2022.

LTV and DSC ratios are measures commonly used to assess the risk and quality of mortgage loans. The LTV ratio is expressed as a percentage of the amount of the loan relative to the value of the underlying property. A LTV ratio in excess of 100% indicates the unpaid loan amount exceeds the underlying collateral. The DSC ratio, based upon the most recently received financial statements, is expressed as a percentage of the amount of a property’s net income to its debt service payments. A DSC ratio of less than 1.00 indicates that a property’s operations do not generate sufficient income to cover debt payments. We normalize our DSC ratios to a 25-year amortization period for purposes of our general loan allowance evaluation.

The following tables presents the recorded investment in CMLs by LTV and DSC ratio categories and estimated fair value by the indicated loan-to-value ratios, gross of valuation allowances:


	Debt-Service Coverage Ratios						Total Amount	% of Total		Estimated Fair Value		% of Total
	>1.25		1.00 - 1.25		<1.00
December 31, 2023	(Dollars in millions)
LTV Ratios:
Less than 50.00%	$	519	$	4	$	10		$	533	21	%	$	510	23	%
50.00% to 59.99%	764		—		—			764		30	%	679		30	%
60.00% to 74.99%	1,160		56		—			1,216		48	%	1,028		46	%
75.00% to 84.99%	—		6		9			15		1	%	14		1	%
Commercial mortgage loans (a)	$	2,443	$	66	$	19		$	2,528	100	%	$	2,231	100	%

December 31, 2022
LTV Ratios:
Less than 50.00%	$	511	$	4	$	11		$	526	22	%	$	490	24	%
50.00% to 59.99%	706		—		—			706		29	%	615		30	%
60.00% to 74.99%	1,154		3		—			1,157		48	%	955		45	%
75.00% to 84.99%	—		—		18			18		1	%	14		1	%
Commercial mortgage loans	$	2,371	$	7	$	29		$	2,407	100	%	$	2,074	100	%

(a) Excludes loans under development with an amortized cost and estimated fair value of $22 million and $9 million at December 31, 2023 and 2022, respectively.


	December 31, 2023

	Amortized Cost by Origination Year
	2023		2022		2021		2020		2019		Prior		Total
LTV	(In millions)
Less than 50.00%	$	85	$	17	$	77	$	232	$	—	$	122	$	533
50.00% to 59.99%	53		149		267		158		—		137		764
60.00% to 74.99%	69		113		912		122		—		—		1,216
75.00% to 84.99%	6		9		—		—		—		—		15

Total commercial mortgage loans (a)	$	213	$	288	$	1,256	$	512	$	—	$	259	2,528
DSCR
Greater than 1.25x	$	154	$	276	$	1,256	$	512	$	—	$	245	$	2,443
1.00x - 1.25x	59		3		—		—		—		4		66
Less than 1.00x	—		9		—		—		—		10		19
Total commercial mortgage loans (a)	$	213	$	288	$	1,256	$	512	$	—	$	259	$	2,528


	December 31, 2022

	Amortized Cost by Origination Year
	2022		2021		2020		2019		2018		Prior		Total
LTV	(In millions)
Less than 50.00%	$	70	$	120	$	207	$	—	$	—	$	129	$	526
50.00% to 59.99%	149		268		158		—		—		131		706
60.00% to 74.99%	113		912		123		—		—		9		1,157
75.00% to 84.99%	9		—		—		—		—		9		18
Total commercial mortgage loans (a)	$	341	$	1,300	$	488	$	—	$	—	$	278	$	2,407
DSCR
Greater than 1.25x	$	329	$	1,300	$	488	$	—	$	—	$	254	$	2,371
1.00x - 1.25x	3		—		—		—		—		4		7
Less than 1.00x	9		—		—		—		—		20		29
Total commercial mortgage loans (a)	$	341	$	1,300	$	488	$	—	$	—	$	278	$	2,407

(a) Excludes loans under development with an amortized cost and estimated fair value of $22 million for December 31, 2023, and an amortized cost and estimated fair value of $9 million for December 31, 2022.

We recognize mortgage loans as delinquent when payments on the loan are greater than 30 days past due. At December 31, 2023 and December 31, 2022, we had no CMLs that were delinquent in principal or interest payments as shown in the risk rating exposure table below.

Residential Mortgage Loans

RMLs represented approximately 7% and 5% of our total investments at December 31, 2023 and December 31, 2022, respectively. Our residential mortgage loans are closed end, amortizing loans and 100% of the properties are located in the United States. We diversify our RML portfolio by state to attempt to reduce concentration risk. The distribution of RMLs by state with highest-to-lowest concentration are reflected in the following tables, gross of valuation allowances:


	December 31, 2023
U.S. State:	Amortized Cost (In millions)		% of Total
Florida	$	163	6	%
New York	129		5	%
Texas	129		5	%




All Other States (1)	2,431		85	%
Total residential mortgage loans, gross of valuation allowance	$	2,852	100	%
Allowance for expected credit loss	(54)
Total residential mortgage loans, net of valuation allowance	$	2,798

(1) The individual concentration of each state is equal to or less than to 5%.


	December 31, 2022
U.S. State:	Amortized Cost (In millions)		% of Total
Florida	$	324	15	%
Texas	215		10	%
New Jersey	172		8	%
Pennsylvania	153		7	%
California	139		6	%
New York	138		6	%
Georgia	125		6	%
All other states (a)	914		42	%
Total residential mortgage loans, gross of valuation allowance	$	2,180	100	%
Allowance for expected credit loss	(32)
Total residential mortgage loans, net of valuation allowance	$	2,148

(1) The individual concentration of each state is less than 5%.

RMLs have a primary credit quality indicator of either a performing or nonperforming loan. We define non-performing RMLs as those that are 90 or more days past due or in nonaccrual status, which is assessed monthly. The credit quality of RMLs was as follows:


	December 31, 2023				December 31, 2022
Performance indicators:	Amortized Cost		% of Total		Amortized Cost		% of Total
	(Dollars in millions)
Performing	$	2,795	98	%	$	2,118	97	%
Non-performing	57		2	%	62		3	%
Total residential mortgage loans, gross of valuation allowance	$	2,852	100	%	$	2,180	100	%
Allowance for expected loan loss	(54)		—		(32)		—
Total residential mortgage loans, net of valuation allowance	$	2,798	100	%	$	2,148	100	%

There were no charge offs recorded on RMLs during the year ended December 31, 2023. RMLs segregated by aging of the loans (by year of origination) as of December 31, 2023 and 2022 were as follows, gross of valuation allowances (in millions):


	December 31, 2023

	Amortized Cost by Origination Year
	2023		2022		2021		2020		2019		Prior		Total
Residential mortgages	(In millions)
Current (less than 30 days past due)	$	373	$	985	$	854	$	192	$	183	$	192	$	2,779
30-89 days past due	—		4		7		3		—		2		16
90 days or more past due	—		6		16		13		21		1		57
Total residential mortgages	$	373	$	995	$	877	$	208	$	204	$	195	$	2,852


	December 31, 2022

	Amortized Cost by Origination Year
	2022		2021		2020		2019		2018		Prior		Total
Residential mortgages	(In millions)
Current (less than 30 days past due)	$	766	$	884	$	214	$	185	$	23	$	33	$	2,105
30-89 days past due	2		7		—		4		—		—		13
90 days or more past due	3		9		15		34		1		—		62
Total residential mortgages	$	771	$	900	$	229	$	223	$	24	$	33	$	2,180

The amortized cost of non-accrual loans as of December 31, 2023 and 2022 were as follows:


Amortized cost of loans on non-accrual	December 31, 2023		December 31, 2022
	(In millions)
Residential mortgage	$	57	$	62
Commercial mortgage	—		9
Total non-accrual mortgages	$	57	$	71

Immaterial interest income was recognized on non-accrual financing receivables for the years ended December 31, 2023 and December 31, 2022.

It is our policy to cease to accrue interest on loans that are 90 days or more delinquent. For loans less than 90 days delinquent, interest is accrued unless it is determined that the accrued interest is not collectible. If a loan becomes 90 days or more delinquent, it is our general policy to initiate foreclosure proceedings unless a workout arrangement to bring the loan current is in place. As of December 31, 2023 and December 31, 2022, we had $57 million and $71 million, respectively, of mortgage loans that were over 90 days past due, of which $41 million and $38 million was in the process of foreclosure as of December 31, 2023 and December 31, 2022, respectively.

Allowance for Expected Credit Loss

We estimate expected credit losses for our CML and RML portfolios using a probability of default/loss given default model. Significant inputs to this model include, where applicable, the loans' current performance, underlying collateral type, location, contractual life, LTV, DSC and Debt to Income or FICO. The model projects losses using a two year reasonable and supportable forecast and then reverts over a three year period to market-wide historical loss experience. Changes in our allowance for expected credit losses on mortgage loans are recognized in Recognized gains and losses, net in the accompanying Consolidated Statements of Earnings.

The allowances for our mortgage loan portfolio is summarized as follows (in millions):


	Year ended December 31, 2023			Year ended December 31, 2022

		Residential Mortgage		Commercial Mortgage		Total		Residential Mortgage		Commercial Mortgage		Total
Beginning Balance		$	32	$	10	$	42	$	25	$	6	$	31
Provision for loan losses		22		5		27		7		4		11




Ending Balance		$	54	$	12	$	66	$	32	$	10	$	42



	Year ended December 31, 2021

		Residential Mortgage		Commercial Mortgage		Total
Beginning Balance		37		2		39
Provision for loan losses		(12)		4		(8)




Ending Balance		$	25	$	6	$	31

An allowance for expected credit loss is not measured on accrued interest income for CMLs as we have a process to write-off interest on loans that enter into non-accrual status (90 days or more past due). Allowances for expected credit losses are measured on accrued interest income for RMLs and were immaterial as of December 31, 2023 and December 31, 2022.

Interest and Investment Income

The major sources of Interest and investment income reported on the accompanying Consolidated Statements of Earnings were as follows:


	Year ended
		December 31, 2023		December 31, 2022		December 31, 2021
		(In millions)
Fixed maturity securities, available-for-sale		$	1,911	$	1,489	$	1,267
Equity securities		33		31		23
Preferred securities		52		67		63
Mortgage loans		229		186		131

Invested cash and short-term investments		151		61		7

Limited partnerships		231		110		589
Tax deferred property exchange income		166		103		16
Other investments		91		41		32
Gross investment income		2,864		2,088		2,128
Investment expense		(257)		(197)		(167)
Interest and investment income		$	2,607	$	1,891	$	1,961

The Company’s Interest and investment income is shown net of amounts attributable to certain funds withheld reinsurance agreements, which is passed along to the reinsurer in accordance with the terms of these agreements. Interest and Investment Income attributable to these agreements, and thus excluded from the totals in the table above, was $339 million, $109 million, and $53 million for the years ended December 31, 2023, 2022, and 2021, respectively.

Recognized Gains and Losses, net

Details underlying Recognized gains and losses, net reported on the accompanying Consolidated Statements of Earnings were as follows:


	Year ended
		December 31, 2023		December 31, 2022		December 31, 2021
		(In millions)
Net realized (losses) gains on fixed maturity available-for-sale securities		$	(155)	$	(253)	$	111
Net realized/unrealized (losses) gains on equity securities (1)		23		(386)		(434)
Net realized/unrealized (losses) gains on preferred securities (2)		(1)		(230)		(14)
Realized (losses) gains on other invested assets		(25)		(68)		8
Change in allowance for expected credit losses		(36)		(41)		8
Derivatives and embedded derivatives:
Realized (losses) gains on certain derivative instruments		(211)		(164)		456
Unrealized (losses) gains on certain derivative instruments		358		(693)		159
Change in fair value of reinsurance related embedded derivatives		(128)		352		34
Change in fair value of other derivatives and embedded derivatives		11		(10)		6
Realized (losses) gains on derivatives and embedded derivatives		30		(515)		655
Recognized gains and losses, net		$	(164)	$	(1,493)	$	334

(1) Includes net valuation (losses) gains of $47 million, $(387) million and $(436) million for the years ended December 31, 2023, 2022, and 2021, respectively.

(2) Includes net valuation losses of $80 million, $198 million, and $14 million for the years ended December 31, 2023, 2022 and 2021, respectively.

Recognized gains and losses is shown net of amounts attributable to certain funds withheld reinsurance agreements which is passed along to the reinsurer in accordance with the terms of these agreements. Recognized gains and losses attributable to these agreements, and thus excluded from the totals in the table above, was $(123) million, $381 million and $15 million for the years ended December 31, 2023, 2022 and 2021, respectively.

The proceeds from the sale of fixed-maturity securities and the gross gains and losses associated with those transactions were as follows (in millions):


	Year ended
		December 31, 2023		December 31, 2022		December 31, 2021
Proceeds		$	2,698	$	3,264	$	4,749
Gross gains		18		14		158
Gross losses		(145)		(252)		(49)

Unconsolidated Variable Interest Entities

The Company owns investments in VIEs that are not consolidated within our financial statements. A VIE is an entity that does not have sufficient equity to finance its own activities without additional financial support, where investors lack certain characteristics of a controlling financial interest, or where the entity is structured with non-substantive voting rights. VIEs are consolidated by their ‘primary beneficiary’, a designation given to an entity that receives both the benefits from the VIE as well as the substantive power to make its key economic decisions. While the Company participates in the benefits from VIEs in which it invests, but does not consolidate, the substantive power to make the key economic decisions for each respective VIE resides with entities not under common control with the Company. It is for this reason that the Company is not considered the primary beneficiary for the VIE investments that are not consolidated.

We invest in various limited partnerships and limited liability companies primarily as a passive investor. These investments are primarily in credit funds with a bias towards current income, real assets, or private equity. Limited partnership and limited liability company interests are accounted for under the equity method and are included in Investments in unconsolidated affiliates on our Consolidated Balance Sheets. In addition, we invest in structured investments that may be VIEs, but for which we are not the primary beneficiary. These structured investments typically invest in fixed income investments and are managed

by third parties and include asset-backed securities, commercial mortgage-backed securities and residential mortgage-backed securities included in fixed maturity securities available for sale on our Consolidated Balance Sheets.

Our maximum loss exposure with respect to these VIEs is limited to the investment carrying amounts reported in our Consolidated Balance Sheets for limited partnerships and the amortized costs of certain of our fixed maturity securities, in addition to any required unfunded commitments (also refer to Note H Commitments and Contingencies).

The following table summarizes the carrying value and the maximum loss exposure of our unconsolidated VIEs:


	December 31, 2023				December 31, 2022
	Carrying Value		Maximum Loss Exposure		Carrying Value		Maximum Loss Exposure
	(In millions)
Investments in unconsolidated affiliates	$	3,071	$	4,806	$	2,427	$	4,030
Fixed maturity securities	20,837		22,346		15,680		17,404
Total unconsolidated VIE investments	$	23,908	$	27,152	$	18,107	$	21,434

Concentrations

Our underlying investment concentrations that exceed 10% of shareholders equity are as follows:


	December 31, 2023		December 31, 2022
	(In millions)
Blackstone Wave Asset Holdco (1)	$	725	$	741

__________________

(1)Represents a special purpose vehicle that holds investments in numerous limited partnership investments whose underlying investments are further diversified by holding interest in multiple individual investments and industries.

Investments Amortized Costs of Non-accrual Loans (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Amortized cost of loans on non-accrual	$ 57	$ 71
Residential Mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
Amortized cost of loans on non-accrual	57	62
Commercial Mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
Amortized cost of loans on non-accrual	$ 0	$ 9

Accounts Payable and Other Accrued Liabilities

12 Months Ended

Dec. 31, 2023

Payables and Accruals [Abstract]

Accounts Payable and Other Accrued Liabilities

Accounts payable and other accrued liabilities consist of the following:


	December 31,
	2023		2022
	(In millions)
Salaries and incentives	$	373	$	390
Accrued benefits	437		408
URL	270		166
Deferred revenue	91		93
Contingent consideration - acquisitions	49		47
Trade accounts payable	339		156

Accrued recording fees and transfer taxes	15		12
Accrued premium taxes	3		20
Liability for policy and contract claims	92		109
Retained asset account	81		117
Remittances and items not allocated	284		225
Option collateral liabilities	588		178

Other accrued liabilities	387		405
	$	3,009	$	2,326

The following tables roll forward URL for the years ended December 31, 2023 and December 31, 2022:


	Universal Life		Total
	(In millions)
Balance at January 1, 2023	$	166	$	166
Capitalization	119		119
Amortization	(15)		(15)
Balance at December 31, 2023	$	270	$	270

	Universal Life		Total
	(In millions)
Balance at January 1, 2022	$	87	$	87
Capitalization	89		89
Amortization	(10)		(10)
Balance at December 31, 2022	$	166	$	166

For IUL the cash flow assumptions used to amortize URL reflect the company’s best estimates for policyholder behavior. We review cash flow assumptions annually, generally in the third quarter. In 2023, F&G undertook a review of all significant assumptions and there were changes to IUL assumptions involving surrender rates and premium persistency. In 2022, F&G undertook a review of all significant assumptions and there were no changes with a significant impact.

Acquisitions - Narrative (Details) - USD ($) $ in Millions	Jan. 01, 2023	Dec. 19, 2022	Aug. 09, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill				$ 4,830	$ 4,635	$ 4,532
TitlePoint
Business Acquisition [Line Items]
Cash consideration	$ 224
Goodwill				165
Other intangibles	$ 54			54
Fair value estimate for other assets				6
AllFirst
Business Acquisition [Line Items]
Cash consideration		$ 10	$ 130
Goodwill				104
Other intangibles			$ 55	55
Percentage of outstanding equity acquired		6.00%	74.00%
Other assets				40
Other Liabilities				18
Preliminary fair value allocation, noncontrolling interest				$ 46

Contractholder Funds

12 Months Ended

Dec. 31, 2023

Insurance [Abstract]

Contractholder Funds

Market Risk Benefits

The following table presents the balances of and changes in MRBs associated with FIAs and fixed rate annuities for the years ended December 31, 2023, December 31, 2022, and December 31, 2021:


	December 31, 2023				December 31, 2022				December 31, 2021
	FIA		Fixed rate annuities		FIA		Fixed rate annuities		FIA		Fixed rate annuities
	(Dollars in millions)
Balance, beginning of period, net liability	$	164	$	1	$	426	$	2	$	478	$	1

Balance, beginning of period, before effect of changes in the instrument-specific credit risk	$	102	$	1	$	280	$	1	$	320	$	1
Issuances and benefit payments	(10)		—		(21)		—		(9)		—
Attributed fees collected and interest accrual	131		—		107		1		99		1
Actual policyholder behavior different from expected	27		—		43		—		(22)		—
Changes in assumptions and other	29		—		(76)		—		—		—


Effects of market related movements	(70)		—		(231)		(1)		(108)		(1)
Balance, end of period, before effect of changes in the instrument-specific credit risk	$	209	$	1	$	102	$	1	$	280	$	1
Effect of changes in the instrument-specific credit risk	105		—		62		—		146		1
Balance, end of period, net liability	$	314	$	1	$	164	$	1	$	426	$	2



Weighted-average attained age of policyholders weighted by total AV (years)	68.28		72.59		68.59		72.88		68.95		73.10
Net amount at risk	$	1,059	$	2	$	952	$	3	$	1,304	$	4

The following table reconciles MRBs by amounts in an asset position and amounts in a liability position to the MRBs amounts in the Consolidated Balance Sheets:


	December 31, 2023						December 31, 2022						December 31, 2021
	Asset		Liability		Net		Asset		Liability		Net		Asset		Liability		Net
	(In millions)
FIA	88		402		314		117		281		164		41		467		426
Fixed rate annuities	—		1		1		—		1		1		—		2		2
Total	$	88	$	403	$	315	$	117	$	282	$	165	$	41	$	469	$	428

2023. The net MRB liability increased for the year ended December 31, 2023, primarily as a result of attributed fees collected, increases as a result of actual policyholder behavior different than expected and changes in assumptions and other as discussed below. These increases were partially offset by the effects of market related movements, including the impacts of higher risk-free rates and increases in the equity market related projections.

For the year ended December 31, 2023, notable changes made to the inputs to the fair value estimates of MRBs calculations included a significant increase in risk-free rates leading to a favorable change in the MRBs associated with FIA and fixed rate annuities; increases in the equity market related projections resulted in a decrease in the net amount at risk associated with FIAs, lead to a favorable change in the value of the associated MRBs; and F&G’s credit spread decreased, leading to a corresponding unfavorable change in the MRBs associated with both FIA and fixed rate annuities.

In addition, the cash flow assumptions used to calculate MRBs reflect the company’s best estimates for policyholder behavior. We review cash flow assumptions annually, generally in the third quarter. In 2023, F&G undertook a review of all significant assumptions and revised several assumptions relating to our deferred annuities (FIA and fixed rate annuities) with MRBs including surrender rates, partial withdrawal rates, mortality improvement, and option budgets. All updates to these assumptions brought us more in line with our Company and overall industry experience since the prior assumption update. These updates, in total, led to an unfavorable change in the MRB balance during the third quarter of 2023. Additionally, in the fourth quarter of 2023, an update to the industry future mortality improvement table led to a corresponding update in our future mortality improvement assumption, which led to an unfavorable change in the MRB balance during the fourth quarter of 2023.

2022. The net MRB liability decreased for the year ended December 31, 2022, primarily as a result of the effects of market related movements, including the impact of higher risk-free rates, and changes in assumptions and other as discussed below, partially offset by attributed fees collected and increases as a result of actual policyholder behavior different than expected.

For the year ended December 31, 2022, notable changes made to the inputs to the fair value estimates of MRBs calculations included a significant increase to risk-free rates leading to a favorable change in the MRBs associated with both FIA and fixed rate annuities; decreases in the equity markets resulting in an increase in the net amount at risk associated with FIAs, leading to an unfavorable change in the value of the associated MRBs; and volatility indices increased, leading to an unfavorable change in the MRBs associated with FIAs.

Cash flow assumptions for mortality and full and partial surrenders were unchanged during the annual third quarter review in 2022. The GMWB utilization assumption was revised in the second quarter of 2022 to reflect additional internal and industry experience for the first several contract years. This assumption update led to a decrease in the net MRB liability. In addition, F&G’s credit spread increased during 2022, leading to a corresponding decrease in the net MRB liability. Credit spreads on the block of business remain lower than the at-issue or at-purchase credit spreads, but the level has decreased since the beginning of 2022.

2021. The net MRB liability decreased for the year ended December 31, 2021, primarily as a result of the effects of market related movements, including the impact of higher risk-free rates, and decreases as a result of actual policyholder behavior different than expected, partially offset by attributed fees collected.

For the year ended December 31, 2021, notable changes made to the inputs to the fair value estimates of MRBs calculations included a moderate increase to risk-free rates leading to a favorable change in the MRBs associated with both FIA and fixed rate annuities and increases in the equity markets resulting in a decrease in the net amount at risk associated with FIAs, leading to a favorable change in the value of the associated MRBs.

Contractholder Funds

The following tables summarize balances of and changes in contractholder funds’ account balances:


	December 31, 2023
	FIA			Fixed rate annuities			Universal Life			FABN (b)		FHLB (b)
	(Dollars in millions)
Balance, beginning of year	$	24,766		$	9,358		$	2,112		$	2,613	$	1,982
Issuances	4,722			5,061			199			—		1,256
Premiums received	103			1			382			—		—
Policy charges (a)	(182)			—			(261)			—		—
Surrenders and withdrawals	(2,005)			(1,142)			(90)			—		—
Benefit payments	(526)			(240)			(27)			(53)		(763)

Interest credited	270			405			76			54		64
Other	16			—			—			(1)		—
Balance, end of year	$	27,164		$	13,443		$	2,391		$	2,613	$	2,539
Embedded derivative adjustment (c)	243			—			84			—		—
Gross Liability, end of period	$	27,407		$	13,443		$	2,475		$	2,613	$	2,539
Less: Reinsurance	(17)			(7,520)			(894)			—		—
Net Liability, after Reinsurance	$	27,390		$	5,923		$	1,581		$	2,613	$	2,539

Weighted-average crediting rate	1.40		%	4.85		%	3.44		%	N/A		N/A
Net amount at risk (d)	N/A			N/A			$	60,389		N/A		N/A
Cash surrender value (e)	$	25,099		$	12,505		$	1,872		N/A		N/A

(a) Contracts included in the contractholder funds are generally charged a premium and/or monthly assessments on the basis of the account balance.

(b) FABN and FHLB are considered funding agreements that are investment contracts which follow the interest method of accounting, and therefore are not subject to ASU 2018-12 disclosure requirements. However, the Company has elected to present the liability for these agreements within the disaggregated roll forward as we believe it will provide meaningful information for users of the financials.

(c) The embedded derivative adjustment reconciles the account balance to the gross GAAP liability and represents the combination of the host contract and the fair value of the embedded derivatives.

(d) For those guarantees of benefits that are payable in the event of death, the net amount at risk is generally defined as the current guaranteed minimum death benefit in excess of the current account balance at the balance sheet date.

(e) These amounts are gross of reinsurance


	December 31, 2022
	FIA			Fixed rate annuities			Universal Life			FABN (b)		FHLB (b)
	(Dollars in millions)
Balance, beginning of year	$	21,997		$	6,367		$	1,907		$	1,904	$	1,543
Issuances	4,462			3,758			167			700		1,192
Premiums received	106			3			295			—		—
Policy charges (a)	(166)			(1)			(209)			—		—
Surrenders and withdrawals	(1,322)			(797)			(74)			—		—
Benefit payments	(485)			(192)			(22)			(35)		(789)

Interest credited	198			220			48			45		36
Other	(24)			—			—			(1)		—
Balance, end of year	$	24,766		$	9,358		$	2,112		$	2,613	$	1,982
Embedded derivative adjustment (c)	(343)			—			15			—		—
Gross Liability, end of period	$	24,423		$	9,358		$	2,127		$	2,613	$	1,982
Less: Reinsurance	(17)			(3,723)			(947)			—		—
Net Liability, after Reinsurance	$	24,406		$	5,635		$	1,180		$	2,613	$	1,982

Weighted-average crediting rate	0.85		%	2.84		%	2.39		%	N/A		N/A
Net amount at risk (d)	N/A			N/A			$	53,348		N/A		N/A
Cash surrender value (e)	$	23,049		$	8,744		$	1,698		N/A		N/A

(a) Contracts included in the contractholder funds are generally charged a premium and/or monthly assessments on the basis of the account balance.

(c) The embedded derivative adjustment reconciles the account balance to the gross GAAP liability and represents the combination of the host contract and the fair value of the embedded derivatives.

(e) These amounts are gross of reinsurance


	December 31, 2021
	FIA			Fixed rate annuities			Universal Life			FABN (b)		FHLB (b)
	(Dollars in millions)
Balance, beginning of year	$	18,703		$	5,142		$	1,696		$	—	$	1,203
Issuances	4,400			1,743			114			1,899		759
Premiums received	103			3			233			—		—
Policy charges (a)	(148)			(1)			(167)			—		—
Surrenders and withdrawals	(1,303)			(543)			(68)			—		—
Benefit payments	(440)			(145)			(19)			(7)		(447)

Interest credited	686			167			118			12		30
Other	(4)			1			—			—		(2)
Balance, end of year	$	21,997		$	6,367		$	1,907		$	1,904	$	1,543
Embedded derivative adjustment (c)	603			—			74			—		—
Gross Liability, end of period	$	22,600		$	6,367		$	1,981		$	1,904	$	1,543
Less: Reinsurance	(17)			(1,692)			(984)			—		—
Net Liability, after Reinsurance	$	22,583		$	4,675		$	997		$	1,904	$	1,543

Weighted-average crediting rate	3.43		%	2.94		%	6.77		%	N/A		N/A
Net amount at risk (d)	N/A			N/A			$	41,326		N/A		N/A
Cash surrender value (e)	$	20,455		$	5,992		$	1,572		N/A		N/A

(a) Contracts included in the contractholder funds are generally charged a premium and/or monthly assessments on the basis of the account balance.

(c) The embedded derivative adjustment reconciles the account balance to the gross GAAP liability and represents the combination of the host contract and the fair value of the embedded derivatives.

(e) These amounts are gross of reinsurance

The following table reconciles contractholder funds’ account balances to the contractholder funds liability in the Consolidated Balance Sheets:


	December 31, 2023		December 31, 2022		December 31, 2021
	(In millions)
FIA	$	27,407	$	24,423	$	22,600
Fixed rate annuities	13,443		9,358		6,367
Immediate annuities	311		332		352
Universal life	2,475		2,127		1,981
Traditional life	5		5		5
Funding Agreement-FABN	2,613		2,613		1,904
FHLB	2,539		1,982		1,543
PRT	5		3		1
Total	$	48,798	$	40,843	$	34,753

Annually, typically in the third quarter, we review assumptions associated with reserves for policy benefits and product guarantees. During the third quarter of 2023 and for the year ended December 31, 2023, based on increases in interest rates and pricing changes, we updated certain FIA assumptions used to calculate the fair value of the embedded derivative component within contractholder funds and also aligned reserves to actual policyholder behavior. These changes resulted in an increase in total benefits and other changes in policy reserves of approximately $73 million for the year ended December 31, 2023.

The following tables present the account values by range of guaranteed minimum crediting rates and the related range of difference, in basis points, between rates being credited to policyholders and the respective guaranteed minimums:


	December 31, 2023
Range of guaranteed minimum crediting rate	At Guaranteed Minimum		1 Basis Point-50 Basis Points Above		51 Basis Points-150 Basis Points Above		Greater Than 150 Basis Points Above		Total
FIA	(In millions)
0.00%-1.50%	$	22,392	$	1,444	$	526	$	1,953	$	26,315
1.51%-2.50%	196		1		24		250		471
Greater than 2.50%	377		1		—		—		378
Total	$	22,965	$	1,446	$	550	$	2,203	$	27,164

Fixed Rate Annuities
0.00%-1.50%	$	23	$	25	$	1,532	$	10,271	$	11,851
1.51%-2.50%	5		8		23		453		489
Greater than 2.50%	893		2		4		204		1,103
Total	$	921	$	35	$	1,559	$	10,928	$	13,443

Universal Life
0.00%-1.50%	$	1,987	$	5	$	—	$	21	$	2,013
1.51%-2.50%	—		—		—		—		—
Greater than 2.50%	361		16		1		—		378
Total	$	2,348	$	21	$	1	$	21	$	2,391


	December 31, 2022
Range of guaranteed minimum crediting rate	At Guaranteed Minimum		1 Basis Point-50 Basis Points Above		51 Basis Points-150 Basis Points Above		Greater Than 150 Basis Points Above		Total
FIA	(In millions)
0.00%-1.50%	$	22,848	$	801	$	410	$	151	$	24,210
1.51%-2.50%	162		—		1		—		163
Greater than 2.50%	390		—		3		—		393
Total	$	23,400	$	801	$	414	$	151	$	24,766

Fixed Rate Annuities
0.00%-1.50%	$	10	$	32	$	1,871	$	6,379	$	8,292
1.51%-2.50%	9		14		30		1		54
Greater than 2.50%	997		4		4		7		1,012
Total	$	1,016	$	50	$	1,905	$	6,387	$	9,358

Universal Life
0.00%-1.50%	$	1,701	$	3	$	—	$	17	$	1,721
1.51%-2.50%	—		—		—		—		—
Greater than 2.50%	346		44		1		—		391
Total	$	2,047	$	47	$	1	$	17	$	2,112


	December 31, 2021
Range of guaranteed minimum crediting rate	At Guaranteed Minimum		1 Basis Point-50 Basis Points Above		51 Basis Points-150 Basis Points Above		Greater Than 150 Basis Points Above		Total
FIA	(In millions)
0.00%-1.50%	$	20,162	$	803	$	388	$	—	$	21,353
1.51%-2.50%	171		11		25		—		207
Greater than 2.50%	431		3		3		—		437
Total	$	20,764	$	817	$	416	$	—	$	21,997

Fixed Rate Annuities
0.00%-1.50%	$	2	$	28	$	1,928	$	3,219	$	5,177
1.51%-2.50%	9		15		37		1		62
Greater than 2.50%	954		142		25		7		1,128
Total	$	965	$	185	$	1,990	$	3,227	$	6,367

Universal Life
0.00%-1.50%	$	1,486	$	2	$	—	$	13	$	1,501
1.51%-2.50%	—		—		—		—		—
Greater than 2.50%	359		46		1		—		406
Total	$	1,845	$	48	$	1	$	13	$	1,907

Summary of Reserve for Title Claim Losses - Narrative (Details) - Pending Litigation - USD ($) $ in Millions	Nov. 02, 2020	Sep. 03, 2020	Jul. 07, 2020	Dec. 13, 2019
Kim Funding, LLC, Kim H. Peterson, Joseph J. Cohen, and ABC Funding Strategies, LLC v. Chicago Title Co., Chicago Title Ins. Co., Thomas Schwiebert, Adelle Ducharme, and Betty Elixman
Loss Contingencies [Line Items]
Plaintiffs claim losses amount				$ 250
Banc of California, National Association v. Laurie Peterson
Loss Contingencies [Line Items]
Plaintiffs claim losses amount			$ 35
Laurie Peterson v. Chicago Title Co., Chicago Title Ins. Co., Thomas Schwiebert, Adelle Ducharme, and Betty Elixman
Loss Contingencies [Line Items]
Plaintiffs claim losses amount			$ 250
CalPrivate Bank v. Kim H. Peterson Trustee of the Peterson Family Trust dated April 14 1992
Loss Contingencies [Line Items]
Plaintiffs claim losses amount		$ 12
Kim H. Peterson Trustee of the Peterson Family Trust dated April 14 1992 v. Chicago Title Co., Chicago Title Ins. Co., Thomas Schwiebert, Adelle Ducharme, and Betty Elixman
Loss Contingencies [Line Items]
Plaintiffs claim losses amount		$ 250
CalPrivate Bank v. Chicago Title Co. and Chicago Title Ins. Co.
Loss Contingencies [Line Items]
Plaintiffs claim losses amount	$ 12

Future Policy Benefits - Additional Information, Cohort NPR (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)
Insurance [Abstract]
Net Premium Ratio before capping	100.00%
Reserves before NP Ratio capping	$ 1,172
Reserves after NP Ratio capping	1,173
Loss Expense	$ 0

Other Intangible Assets - DSI (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Movement in Deferred Sales Inducements [Roll Forward]
DSI at beginning of period	$ 200	$ 127
Capitalization	168	87
Amortization	(22)	(14)	$ (7)
DSI at end of period	346	200	127
FIA
Movement in Deferred Sales Inducements [Roll Forward]
DSI at beginning of period	200	127
Capitalization	168	87
Amortization	(22)	(14)
DSI at end of period	$ 346	$ 200	$ 127

Derivative Financial Instruments - Schedule of Change in Fair Value of Derivative Instruments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Derivative [Line Items]
Derivative gains (losses)	$ (128)	$ 352	$ 34
Call options
Derivative [Line Items]
Derivative gains (losses)	92	(862)	597
Interest rate swaps
Derivative [Line Items]
Derivative gains (losses)	48	0	0
Futures contracts
Derivative [Line Items]
Derivative gains (losses)	9	(7)	8
Foreign currency forwards
Derivative [Line Items]
Derivative gains (losses)	(2)	12	10
Other embedded derivatives
Derivative [Line Items]
Derivative gains (losses)	5	(10)	5
Reinsurance related embedded derivatives
Derivative [Line Items]
Derivative gains (losses)	(128)	352	34
Total net investment gains (losses)
Derivative [Line Items]
Derivative gains (losses)	24	(515)	654
FIA/ IUL embedded derivatives increase (decrease)
Derivative [Line Items]
Derivative gains (losses)	$ 1,143	$ (768)	$ 479

Future Policy Benefits - Gross Premium Income and Interest Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Liability for Future Policy Benefit, Activity [Line Items]
Gross premium income	$ 2,111	$ 1,522	$ 1,314
Interest expense	197	149	102
Traditional Life
Liability for Future Policy Benefit, Activity [Line Items]
Gross premium income	123	137	152
Interest expense	37	39	40
Immediate Annuities
Liability for Future Policy Benefit, Activity [Line Items]
Gross premium income	24	23	16
Interest expense	51	60	60
PRT
Liability for Future Policy Benefit, Activity [Line Items]
Gross premium income	1,964	1,362	1,146
Interest expense	$ 109	$ 50	$ 2

Employee Benefit Plans - 401(k) Profit Sharing Plan (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020
Retirement Benefits [Abstract]
Maximum annual contributions per employee, percent	40.00%
Employer matching contribution, percent of match, amount per dollar	0.50		0.375	0.375
Employer matching contribution, percent of employees' gross pay		6.00%	6.00%	6.00%
Defined contribution plan, cost recognized	$ 45	$ 50	$ 36

Future Policy Benefits - Actual Experience and Expected Experience for Mortality and Lapses (Details)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Actual experience \| Traditional Life
Liability for Future Policy Benefit, Activity [Line Items]
Mortality rate	1.70%	1.50%	1.70%
Lapse rate	0.00%	0.00%	0.10%
Actual experience \| Immediate Annuities
Liability for Future Policy Benefit, Activity [Line Items]
Mortality rate	3.20%	3.00%	4.20%
Lapse rate	0.00%	0.00%	0.00%
Actual experience \| PRT
Liability for Future Policy Benefit, Activity [Line Items]
Mortality rate	3.20%	1.90%	0.00%
Lapse rate	0.00%	0.00%	0.00%
Expected experience \| Traditional Life
Liability for Future Policy Benefit, Activity [Line Items]
Mortality rate	1.40%	1.30%	1.30%
Lapse rate	0.30%	0.30%	0.30%
Expected experience \| Immediate Annuities
Liability for Future Policy Benefit, Activity [Line Items]
Mortality rate	1.80%	1.90%	2.00%
Lapse rate	0.00%	0.00%	0.00%
Expected experience \| PRT
Liability for Future Policy Benefit, Activity [Line Items]
Mortality rate	2.30%	2.50%	0.00%
Lapse rate	0.00%	0.00%	0.00%

Notes Payable - Schedule of Long Term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 06, 2023	Jan. 13, 2023	Dec. 31, 2022	Sep. 17, 2021	May 16, 2019	Aug. 13, 2018
Debt Instrument [Line Items]
Notes payable	$ 3,887			$ 3,238
4.50% Notes, net of discount
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage						4.50%	4.50%
4.50% Notes, net of discount \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	4.50%					4.50%	4.50%
Notes payable	$ 446			445
3.40% Notes, net of discount \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	3.40%
Notes payable	$ 644			644
2.45% Notes, net of discount \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	2.45%
Notes payable	$ 594			594
3.20% Notes, net of discount
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage					3.20%
3.20% Notes, net of discount \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	3.20%
Notes payable	$ 444			444
Revolving Credit Facility \| Line of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Notes payable	2			3
F&G Credit Agreement \| Line of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Notes payable	$ 362			547
5.50% F&G Notes, net of discount
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	5.50%
Notes payable	$ 561			567
7.40% Senior Notes Due 2028 \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	7.40%		7.40%
Notes payable	$ 495			0
7.95% Senior Notes Due 2053 \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	7.95%	7.95%
Notes payable	$ 336			0
Other
Debt Instrument [Line Items]
Notes payable	$ 7			$ 0

Commitments and Contingencies

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Legal and Regulatory Contingencies

In the ordinary course of business, we are involved in various pending and threatened litigation matters related to our operations, some of which include claims for punitive or exemplary damages. With respect to our title insurance operations, this customary litigation includes but is not limited to a wide variety of cases arising out of or related to title and escrow claims, for which we make provisions through our loss reserves. See Note C Summary of Reserve for Title Claim Losses for further discussion. Additionally, like other companies, our ordinary course litigation includes a number of class action and purported class action lawsuits, which make allegations related to aspects of our operations. We believe that no actions, other than the matters discussed below, if any, depart from customary litigation incidental to our business.

We review lawsuits and other legal and regulatory matters (collectively “legal proceedings”) on an ongoing basis when making accrual and disclosure decisions. When assessing reasonably possible and probable outcomes, management bases its decision on its assessment of the ultimate outcome assuming all appeals have been exhausted. For legal proceedings in which it has been determined that a loss is both probable and reasonably estimable, a liability based on known facts and that represents our best estimate has been recorded. Our accrual for legal and regulatory matters was $10 million and $12 million as of December 31, 2023 and 2022, respectively. None of the amounts we have currently recorded are considered to be material to our financial condition individually or in the aggregate. Actual losses may materially differ from the amounts recorded and the ultimate outcome of our pending legal proceedings is generally not yet determinable. While some of these matters could be material to our operating results or cash flows for any particular period if an unfavorable outcome results, at present we do not believe that the ultimate resolution of currently pending legal proceedings, either individually or in the aggregate, will have a material adverse effect on our financial condition.

In August 2020, a lawsuit styled, In the Matter of FGL Holdings, was filed in the Grand Court of the Cayman Islands related to FNF's acquisition of F&G where dissenting shareholders, Kingfishers LP, Kingstown 1740 Fund LP, Kingstown Partners II LP, Kingstown Partners Master Ltd., and Ktown LP, asserted statutory appraisal rights relative to their ownership of 12,000,000 shares of F&G stock. They sought a judicial determination of the fair value of their shares of F&G stock as of the date of valuation under the law of the Cayman Islands, together with interest and legal costs. On October 5, 2022, the Grand Court of the Cayman Islands decided in favor of F&G. The dissenting shareholders failed to appeal the fair value order, and its appeal period expired on October 19, 2022. On April 19, 2023, the Grand Court of the Cayman Islands determined that the dissenting shareholders should pay F&G’s Cayman Islands legal expenses and discovery costs relating to the lawsuit by way of an interim payment of $4 million, with the balance to be determined after assessment. We are attempting to collect reimbursement of our expenses in this lawsuit.

F&G is a defendant in two putative class action lawsuits related to the alleged compromise of certain of F&G’s customers’ personal information resulting from an alleged vulnerability in the MOVEit file transfer software. F&G’s vendor, Pension Benefit Information, LLC (“PBI”), used the MOVEit software in the course of providing audit and address research services to F&G and many other corporate customers. Miller v. F&G, No. 4:23-cv-00326, was filed against F&G in the Southern District of Iowa on August 31, 2023. Miller alleges that he is an F&G customer whose information was impacted in the MOVEit incident and brings common law tort and implied contract claims. F&G has yet to be served in Miller. Plaintiff seeks injunctive relief and damages. Cooper v. Progress Software Corp., No. 1:23-cv-12067, was filed against F&G and five other defendants in the District of Massachusetts on September 7, 2023. F&G was served on September 15, 2023. Cooper also alleges that he is an F&G customer and brings similar common law tort claims and alleges claims as a purported third-party beneficiary of an alleged contract. Plaintiff seeks declaratory and injunctive relief and damages. At this time, F&G does not believe the incident will have a material impact on its business, operations, or financial results.

Well over 150 similar lawsuits have been filed against other entities impacted by the MOVEit incident including a number of such lawsuits related to PBI’s use of MOVEit. On October 4, 2023, the U.S. Judicial Panel on Multidistrict Litigation (JPML) created a multidistrict litigation (MDL) pursuant to 28 U.S.C. § 1407 to handle all litigation brought by individuals whose information was potentially compromised in connection with the alleged MOVEit vulnerability. The JPML assigned the MDL to Judge Allison Burroughs of the U.S. District Court for the District of Massachusetts. Both Miller and Cooper have been transferred to Judge Burroughs in the MDL. Following creation of the MDL, Judge Burroughs conducted an initial case management conference on November 30, 2023, and appointed lead plaintiffs’ counsel on January 19, 2024. Judge Burroughs is currently considering the parties’ case management schedule proposals submitted on February 16, 2024. Judge Burroughs is likely to issue a Case Management Order with additional processes and a preliminary schedule as a next step in the consolidated litigations.

In connection with the cybersecurity incident initially reported on November 21, 2023, the Company and/or its subsidiaries are named as defendants in putative class action lawsuits recently filed in the U.S. District Courts for the Middle District of Florida and the Central District of California, and the Western District of Missouri. The putative class actions include common law tort and contract claims, and some include certain state statutory claims. The Company has not yet filed responses to these lawsuits. The putative class action lawsuits also include overlapping class definitions for which a class has not been

certified. Because of the procedural posture of these lawsuits and the factual issues involved, the Company has not yet been able to assess the probability of loss or estimate the possible loss or the range of loss.

From time to time, we receive inquiries and requests for information from state insurance departments, attorneys general and other regulatory agencies about various matters relating to our business. Sometimes these take the form of civil investigative demands or subpoenas. We cooperate with all such inquiries, and we have responded to or are currently responding to inquiries from multiple governmental agencies. Also, regulators and courts have been dealing with issues arising from foreclosures and related processes and documentation. Various governmental entities are studying the title insurance product, market, pricing, and business practices, and potential regulatory and legislative changes, which may materially affect our business and operations. From time to time, we are assessed fines for violations of regulations or other matters or enter into settlements with such authorities, which may require us to pay fines or claims or take other actions. We do not anticipate such fines and settlements, either individually or in the aggregate, will have a material adverse effect on our financial condition.

Escrow Balances

In conducting our operations, we routinely hold customers’ assets in escrow, pending completion of real estate transactions, and are responsible for the proper disposition of these balances for our customers. Certain of these amounts are maintained in segregated bank accounts and have not been included in the accompanying Consolidated Balance Sheets, consistent with GAAP and industry practice. These balances amounted to $13.5 billion and $18.9 billion at December 31, 2023 and 2022, respectively. As a result of holding these customers’ assets in escrow, we have ongoing programs for realizing economic benefits during the year through favorable borrowing and vendor arrangements with various banks. There were no investments or loans outstanding as of December 31, 2023 and 2022 related to these arrangements.

F&G Commitments

In our F&G segment, we have unfunded investment commitments as of December 31, 2023 and 2022 based upon the timing of when investments are executed compared to when the actual investments are funded, as some investments require that funding occur over a period of months or years. A summary of unfunded commitments by invested asset class is included below:


	December 31, 2023
Commitment Type	(In millions)
Unconsolidated VIEs:
Limited partnerships	$	1,735
Whole loans	600
Fixed maturity securities, ABS	244
Direct Lending	667
Other fixed maturity securities, AFS	14

Other assets	421
Commercial mortgage loans	72
Other invested assets	15
Committed amounts included in liabilities	—
Total	$	3,768

See Note A Business and Summary of Significant Accounting Policies, for discussion of funding agreements that have been issued pursuant to the FABN Program as well as to the FHLB that are included in Contractholder funds.

F&G has a reinsurance agreement with Kubera to cede certain FIA statutory reserves on a coinsurance funds withheld basis, net of applicable existing reinsurance. To enhance Kubera's ability to pay its obligations under the amended reinsurance agreement, effective October 31, 2021, F&G entered into a Variable Note Purchase Agreement (the “NPA”), whereby F&G agreed to fund a note to Kubera to be used to ultimately settle with F&G, with principal increases up to a maximum amount of $300 million, to the extent a potential funding shortfall (treaty assets are less than the total funding requirement) is projected relative to the business ceded to Kubera from F&G as part of the amended reinsurance agreement. The potential funding shortfall will be determined quarterly and, among other items, is impacted by the market value of the assets in the funds withheld account related to the reinsurance agreement and Kubera's capital as calculated on a Bermuda regulatory basis. The NPA matures on November 30, 2071. Based on the current level of the treaty assets and projections that these policies will be profitable over the lifetime of the agreement, we do not expect significant fundings to occur under the NPA. As of December 31, 2023 and 2022, the amount funded under the NPA was insignificant.

Leases

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Leases

Right-of-use assets and lease liabilities related to operating leases under ASC Topic 842 are recorded when we are party to a contract, which conveys the right for us to control an asset for a specified period of time. Substantially all of our operating lease arrangements relate to rented office space and real estate for our title operations. We generally are not a party to any material contracts considered finance leases. Right-of-use assets and lease liabilities under ASC Topic 842 are recorded as Lease assets and Lease liabilities, respectively, on the Consolidated Balance Sheet as of December 31, 2023.

Our operating leases range in term from one to ten years. As of December 31, 2023, the weighted-average remaining lease term of our operating leases was 4.3 years.

Our lease agreements do not contain material variable lease payments, buyout options, residual value guarantees or restrictive covenants.

Most of our leases include one or more options to renew, with renewal terms that can extend the lease term by varying amounts. The exercise of lease renewal options is at our sole discretion. We do not include options to renew in our measurement of lease assets and lease liabilities as they are not considered reasonably assured of exercise.

Our operating lease liability is determined by discounting future lease payments using a discount rate based on our incremental borrowing rate for similar collateralized borrowing. The discount rate is calculated as an average of the current yield on our unsecured notes payable and 140 basis points in excess of the current five year LIBOR swap rate. As of December 31, 2023, the weighted-average discount rate used to determine our operating lease liability was 4.2%.

We do not separate lease components from non-lease components for any of our right-of-use assets.

Our lease costs are included in Other operating expenses on the Consolidated Statements of Earnings and was $137 million, $142 million and $139 million for the years ended December 31, 2023, 2022 and 2021, respectively. We do not have any material short term lease costs, variable lease costs, or sublease income.

Future payments under operating lease arrangements accounted for under ASC Topic 842 as of December 31, 2023, are as follows (in millions):


2024	$	142
2025	106
2026	76
2027	46
2028	29
Thereafter	32
Total operating lease payments, undiscounted	$	431
Less: present value discount	37
Lease liability, at present value	$	394

See Note K Supplementary Cash Flow Information for certain information on noncash investing and financing activities related to our operating lease arrangements.

Notes Payable - Principal Maturities of Notes Payable (Details) $ in Millions	Dec. 31, 2023 USD ($)
Maturities of Long-term Debt [Abstract]
2024	$ 365
2025	550
2026	6
2027	0
2028	950
Thereafter	2,045
Total long term debt	$ 3,916

Investments - Consolidated Investments (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Available-for-sale securities
Amortized Cost	$ 45,606	$ 37,708
Allowance for Expected Credit Losses	(42)	(39)
Gross Unrealized Gains	457	98
Gross Unrealized Losses	(3,648)	(4,672)
Fair Value/Carrying Value	42,373	33,095
Asset-backed securities
Available-for-sale securities
Amortized Cost	14,631	12,209
Allowance for Expected Credit Losses	(11)	(8)
Gross Unrealized Gains	191	36
Gross Unrealized Losses	(469)	(770)
Fair Value/Carrying Value	14,342	11,467
Commercial mortgage-backed securities
Available-for-sale securities
Amortized Cost	4,797	3,337
Allowance for Expected Credit Losses	(22)	(1)
Gross Unrealized Gains	23	11
Gross Unrealized Losses	(323)	(284)
Fair Value/Carrying Value	4,475	3,063
Corporates
Available-for-sale securities
Amortized Cost	20,133	17,396
Allowance for Expected Credit Losses	(6)	(22)
Gross Unrealized Gains	186	32
Gross Unrealized Losses	(2,417)	(3,069)
Fair Value/Carrying Value	17,896	14,337
Hybrids
Available-for-sale securities
Amortized Cost	668	806
Allowance for Expected Credit Losses	0	0
Gross Unrealized Gains	3	9
Gross Unrealized Losses	(53)	(84)
Fair Value/Carrying Value	618	731
Municipals
Available-for-sale securities
Amortized Cost	1,826	1,749
Allowance for Expected Credit Losses	0	0
Gross Unrealized Gains	14	4
Gross Unrealized Losses	(229)	(293)
Fair Value/Carrying Value	1,611	1,460
Residential mortgage-backed securities
Available-for-sale securities
Amortized Cost	2,507	1,638
Allowance for Expected Credit Losses	(3)	(8)
Gross Unrealized Gains	29	6
Gross Unrealized Losses	(104)	(109)
Fair Value/Carrying Value	2,429	1,527
U.S. Government
Available-for-sale securities
Amortized Cost	679	287
Allowance for Expected Credit Losses	0	0
Gross Unrealized Gains	8	0
Gross Unrealized Losses	(9)	(16)
Fair Value/Carrying Value	678	271
Foreign Governments
Available-for-sale securities
Amortized Cost	365	286
Allowance for Expected Credit Losses	0	0
Gross Unrealized Gains	3	0
Gross Unrealized Losses	(44)	(47)
Fair Value/Carrying Value	$ 324	$ 239

Revenue Recognition - Premium and Annuity Deposits (Details) - F&G - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Premium and annuity deposits, net of reinsurance	$ 7,787	$ 8,342	$ 8,285
Fixed indexed annuities
Disaggregation of Revenue [Line Items]
Premium and annuity deposits, net of reinsurance	4,738	4,483	4,420
Fixed rate annuities
Disaggregation of Revenue [Line Items]
Premium and annuity deposits, net of reinsurance	1,147	1,522	878
Funding agreements (FABN/FHLB)
Disaggregation of Revenue [Line Items]
Premium and annuity deposits, net of reinsurance	1,256	1,891	2,658
Life insurance
Disaggregation of Revenue [Line Items]
Premium and annuity deposits, net of reinsurance	$ 646	$ 446	$ 329

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Schedule II - Condensed Financial Information (Tables)

12 Months Ended

Dec. 31, 2023

Condensed Financial Information Disclosure [Abstract]

Balance Sheets

SCHEDULE II

FIDELITY NATIONAL FINANCIAL, INC.

(Parent Company)

BALANCE SHEETS


	December 31,
	2023		2022
	(In millions, except share data)
ASSETS
Cash	$	397	$	406
Short-term investments	487		532
Other long-term investments	—		36
Equity securities, at fair value	—		1
Investment in unconsolidated affiliates	3		3
Notes receivable	268		303
Investments in and amounts due from subsidiaries	7,949		7,290
Property and equipment, net	3		2
Prepaid expenses and other assets	318		244



Total assets	$	9,425	$	8,817
LIABILITIES AND EQUITY
Liabilities:
Accounts payable and other accrued liabilities	$	358	$	291
Income taxes payable	—		—
Deferred tax liability	29		71
Notes payable	2,126		2,123
Total liabilities	2,513		2,485
Equity:

FNF common stock, $0.0001 par value; authorized 600,000,000 shares as of December 31, 2023 and December 31, 2022; outstanding of 273,366,235 and 279,064,457 as of December 31, 2023 and December 31, 2022, respectively, and issued of 329,185,916 and 327,757,349 as of December 31, 2023 and December 31, 2022, respectively	—		—

Preferred stock, $0.0001 par value; authorized 50,000,000 shares; issued and outstanding, none	—		—
Additional paid-in capital	5,913		5,870
Retained earnings	5,244		5,225
Accumulated other comprehensive earnings	(2,119)		(2,870)
Less: Treasury stock, 55,819,681 shares and 48,692,892 shares as of December 31, 2023 and December 31, 2022, respectively, at cost	(2,126)		(1,893)
Total equity of Fidelity National Financial, Inc. common shareholders	6,912		6,332


Total liabilities and equity	$	9,425	$	8,817

Statement of Earnings and Retained Earnings

SCHEDULE II

FIDELITY NATIONAL FINANCIAL, INC.

(Parent Company)

STATEMENTS OF EARNINGS AND RETAINED EARNINGS


	Year Ended December 31,
	2023		2022		2021
	(In millions, except per share data)
Revenues:
Other fees and revenue	$	33	$	(37)	$	24
Interest and investment income and realized gains	74		43		17
Recognized gains and losses, net	(31)		(42)		12
Total revenues	76		(36)		53
Expenses:
Personnel expenses	70		(11)		54
Other operating expenses	47		15		25
Interest expense	77		92		87
Total expenses	194		96		166
Losses before income tax benefit and equity in earnings of subsidiaries	(118)		(132)		(113)
Income tax benefit	(29)		(33)		(27)
Losses before equity in earnings of subsidiaries	(89)		(99)		(86)
Equity in earnings of subsidiaries	606		1,393		2,875
Earnings from continuing operations	517		1,294		2,789
Equity in earnings of discontinued operations	—		—		8
Net earnings attributable to Fidelity National Financial, Inc. common shareholders	$	517	$	1,294	$	2,797

Retained earnings, beginning of year	$	5,225	$	4,818	$	2,468
Dividends declared	(498)		(490)		(447)
Distribution of F&G to FNF common shareholders	—		(397)		—



Net earnings attributable to Fidelity National Financial, Inc. common shareholders	517		1,294		2,797
Retained earnings, end of year	$	5,244	$	5,225	$	4,818

Statements Of Cash Flows

SCHEDULE II

FIDELITY NATIONAL FINANCIAL, INC.

(Parent Company)

STATEMENTS OF CASH FLOWS


	Year Ended December 31,
	2023		2022		2021
	(In millions)
Cash Flows From Operating Activities:
Net earnings	$	517	$	1,294	$	2,797
Adjustments to reconcile net earnings to net cash provided by operating activities:
Equity in earnings of unconsolidated affiliates	—		—		(6)


Equity in earnings of subsidiaries	(606)		(1,393)		(2,875)
Depreciation and amortization	1		1		1
Stock-based compensation	57		48		43

Net change in income taxes	(262)		748		65
Net (increase) decrease in prepaid expenses and other assets	(72)		41		(14)
Net increase in accounts payable and other accrued liabilities	70		(51)		36
Net cash (used in) provided by operating activities	(295)		688		47
Cash Flows From Investing Activities:
Purchases of investments available for sale	—		—		(52)
Net purchases of short-term investment activities	82		(509)		(6)

Additions to notes receivable	(12)		(87)		(400)
Collection of notes receivable	47		79		120



Net cash provided by (used in) investing activities	117		(517)		(338)
Cash Flows From Financing Activities:

Borrowings	—		—		449
Debt service payments	—		(400)		—

Debt issuance costs	—		—		(6)
Dividends paid	(500)		(489)		(446)
Purchases of treasury stock	(6)		(553)		(463)
Exercise of stock options	15		39		48
Payment for shares withheld for taxes and in treasury	(17)		(15)		(17)

Additional investments in non-controlling interests	(12)		(2)		—


Net dividends from subsidiaries	689		140		1,266
Net cash provided by (used in) financing activities	169		(1,280)		831
Net change in cash and cash equivalents	(9)		(1,109)		540
Cash at beginning of year	406		1,515		975
Cash at end of year	$	397	$	406	$	1,515
See Notes to Financial Statements

Schedule of Notes Payable

Notes payable consists of the following:


	December 31, 2023		December 31, 2022
	(In millions)
4.50% Notes, net of discount	$	446	$	445

3.40% Notes, net of discount	644		644





2.45% Notes, net of discount	594		594
3.20% Notes, net of discount	444		444
Revolving Credit Facility	(2)		(3)
F&G Credit Agreement	362		547
5.50% F&G Notes, net of discount	561		567

7.40% F&G Notes, net of discount	495		—





7.95% F&G Notes, net of discount	336		—
Other	7		—

	$	3,887	$	3,238

B. Notes Payable

Notes payable consist of the following:


	December 31,
	2023		2022
	(In millions)
4.50% Notes, net of discount	$	446	$	445

3.40% Notes, net of discount	644		644
2.45% Notes, net of discount	594		594
3.20% Notes, net of discount	444		443
Revolving credit facility	(2)		(3)

	$	2,126	$	2,123

Schedule of Supplemental Cash Flow information

The following supplemental cash flow information is provided with respect to certain cash payment and non-cash investing and financing activities.


	Year Ended December 31,
	2023		2022		2021

Cash paid for:	(In millions)
Interest	$	157	$	125	$	112
Income taxes	216		387		653
Deferred sales inducements	168		87		90
Non-cash investing and financing activities:

Distribution of 15% of the common stock of F&G	$	—	$	421	$	—
Investments received from pension risk transfer premiums	464		—		316
Change in proceeds of sales of investments available for sale receivable in period	32		96		(160)
Change in purchases of investments available for sale payable in period	20		(25)		18
Lease liabilities recognized in exchange for lease right-of-use assets	40		70		47
Remeasurement of lease liabilities	75		60		87
Liabilities assumed in connection with acquisitions
Fair value of assets acquired	304		266		85
Less: Total Purchase price	299		180		59
Liabilities and noncontrolling interests assumed	$	5	$	86	$	26

Supplemental Cash Flow Information


	Year Ended December 31,
	2023		2022		2021
	(In millions)
Cash paid during the year:
Interest paid	$	73	$	95	$	81
Income tax payments	213		459		609

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
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+ Details

Market Risk Benefits - Balances and Changes in Market Risk Benefit (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Market Risk Benefit [Line Items]
Balance beginning of period	$ 165	$ 428
Balance, end of period	315	165	$ 428
As Previously Reported
Market Risk Benefit [Line Items]
Balance beginning of period			531
FIA
Market Risk Benefit [Line Items]
Balance beginning of period	164	426	478
Balance, beginning of period, before effect of changes in the instrument-specific credit risk	102	280	320
Issuances and benefit payments	(10)	(21)	(9)
Attributed fees collected and interest accrual	131	107	99
Actual policyholder behavior different from expected	27	43	(22)
Changes in assumptions and other	29	(76)	0
Effects of market related movements	(70)	(231)	(108)
Balance, end of period, before effect of changes in the instrument-specific credit risk		102	280
Effect of changes in the instrument-specific credit risk	105	62	146
Balance, end of period	$ 314	$ 164	$ 426
Weighted-average attained age of policyholders weighted by total AV (years)	68 years 3 months 10 days	68 years 7 months 2 days	68 years 11 months 12 days
Net amount at risk	$ 1,059	$ 952	$ 1,304
FIA \| As Previously Reported
Market Risk Benefit [Line Items]
Balance beginning of period			531
Balance, beginning of period, before effect of changes in the instrument-specific credit risk	102	280
Balance, end of period, before effect of changes in the instrument-specific credit risk	209	102	280
Deferred Annuities
Market Risk Benefit [Line Items]
Balance beginning of period	1	2	1
Balance, beginning of period, before effect of changes in the instrument-specific credit risk	1	1	1
Issuances and benefit payments	0	0	0
Attributed fees collected and interest accrual	0	1	1
Actual policyholder behavior different from expected	0	0	0
Changes in assumptions and other	0	0	0
Effects of market related movements	0	(1)	(1)
Balance, end of period, before effect of changes in the instrument-specific credit risk		1	1
Effect of changes in the instrument-specific credit risk	0	0	1
Balance, end of period	$ 1	$ 1	$ 2
Weighted-average attained age of policyholders weighted by total AV (years)	72 years 7 months 2 days	72 years 10 months 17 days	73 years 1 month 6 days
Net amount at risk	$ 2	$ 3	$ 4
Deferred Annuities \| As Previously Reported
Market Risk Benefit [Line Items]
Balance beginning of period			0
Balance, beginning of period, before effect of changes in the instrument-specific credit risk	1	1
Balance, end of period, before effect of changes in the instrument-specific credit risk	$ 1	$ 1	$ 1

Financial Instruments with Off-Balance Sheet Risk and Concentration of Risk (Details) - Geographic Concentration Risk - Title Insurance Premiums	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Texas
Concentration Risk [Line Items]
Concentration risk percentage	14.30%	15.00%	13.00%
California
Concentration Risk [Line Items]
Concentration risk percentage	13.00%	12.00%	14.60%
Florida
Concentration Risk [Line Items]
Concentration risk percentage	10.70%	10.60%	9.30%
Illinois
Concentration Risk [Line Items]
Concentration risk percentage	6.00%	5.30%	5.10%
Pennsylvania
Concentration Risk [Line Items]
Concentration risk percentage	4.90%	5.20%	5.10%

Other Intangible Assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Other Intangible Assets

The following table reconciles to Other intangible assets, net, on the Consolidated Balance Sheets as of December 31, 2023 and December 31, 2022:


	December 31, 2023		December 31, 2022
	(In millions)
Customer relationships and contracts	$	174	$	202
VOBA	1,446		1,615
DAC	2,215		1,411
DSI	346		200
Value of distribution asset	86		100
Computer software	266		196
Trademarks, tradenames, and other	94		87
Total Other intangible assets, net	$	4,627	$	3,811

The following tables roll forward VOBA by product for the years ended December 31, 2023 and December 31, 2022:


	FIA		Fixed Rate Annuities		Immediate Annuities		Universal Life		Traditional Life		Total
	(In millions)
Balance at January 1, 2023	$	1,166	$	32	$	201	$	143	$	73	$	1,615

Amortization	(141)		(5)		(10)		(9)		(4)		(169)

Balance at December 31, 2023	$	1,025	$	27	$	191	$	134	$	69	$	1,446


	FIA		Fixed Rate Annuities		Immediate Annuities		Universal Life		Traditional Life		Total
	(In millions)
Balance at January 1, 2022	$	1,314	$	39	$	212	$	153	$	25	$	1,743

Amortization	(148)		(7)		(11)		(10)		(4)		(180)
Shadow Premium Deficiency Testing (“PDT”)	—		—		—		—		52		52
Balance at December 31, 2022	$	1,166	$	32	$	201	$	143	$	73	$	1,615

VOBA amortization expense of $169 million, $180 million, and $195 million, was recorded in Depreciation and amortization on the Consolidated Statements of Earnings for the years ended December 31, 2023, 2022, and 2021 respectively.

The following table presents a reconciliation of VOBA to the table above which is reconciled to the Consolidated Balance Sheets as of December 31, 2023 and December 31, 2022:


	December 31, 2023		December 31, 2022
	(In millions)
FIA	$	1,025	$	1,166
Fixed Rate Annuities	27		32
Immediate Annuities	191		201
Universal Life	134		143
Traditional Life	69		73

Total	$	1,446	$	1,615

The following tables roll forward DAC by product for the years ended December 31, 2023 and December 31, 2022:


	FIA		Fixed Rate Annuities		Universal Life		Total (a)
	(In millions)
Balance at January 1, 2023	$	971	$	83	$	348	$	1,402
Capitalization	510		177		229		916
Amortization	(103)		(51)		(32)		(186)
Reinsurance related adjustments	—		79		—		79
Balance at December 31, 2023	$	1,378	$	288	$	545	$	2,211

	FIA		Fixed Rate Annuities		Universal Life		Total (a)
	(In millions)
Balance at January 1, 2022	$	564	$	38	$	173	$	775
Capitalization	474		56		196		726
Amortization	(67)		(11)		(21)		(99)
Balance at December 31, 2022	$	971	$	83	$	348	$	1,402

(a) Excludes insignificant amounts of DAC related to FABN.

DAC amortization expense of $186 million, $99 million, and $46 million, was recorded in Depreciation and amortization on the Consolidated Statements of Earnings for the years ended December 31, 2023, 2022, and 2021, respectively, excluding insignificant amounts related to FABN.

The following table presents a reconciliation of DAC to the table above which is reconciled to the Consolidated Balance Sheets as of December 31, 2023 and December 31, 2022:


	December 31, 2023		December 31, 2022
	(In millions)
FIA	$	1,378	$	971
Fixed Rate Annuities	288		83

Universal Life	545		348

Funding Agreements	4		9
Total	$	2,215	$	1,411

The following tables roll forward DSI for the years ended December 31, 2023 and December 31, 2022:


	FIA		Total
	(In millions)
Balance at January 1, 2023	$	200	$	200
Capitalization	168		168
Amortization	(22)		(22)
Balance at December 31, 2023	$	346	$	346

	FIA		Total
	(In millions)
Balance at January 1, 2022	$	127	$	127
Capitalization	87		87
Amortization	(14)		(14)
Balance at December 31, 2022	$	200	$	200

DSI amortization expense of $22 million, $14 million, and $7 million, was recorded in Depreciation and amortization on the Consolidated Statements of Earnings for the years ended December 31, 2023, 2022, and 2021, respectively.

The following table presents a reconciliation of DSI to the table above which is reconciled to the Consolidated Balance Sheets as of December 31, 2023 and December 31, 2022:


	December 31, 2023		December 31, 2022
	(In millions)
FIA	$	346	$	200





Total	$	346	$	200

The cash flow assumptions used to amortize VOBA and DAC were consistent with the assumptions used to estimate the FPB for life contingent immediate annuities, and will be reviewed and unlocked, if applicable, in the same period as those balances. For nonparticipating traditional life contracts, the VOBA amortization is straight-line, without the use of cash flow assumptions. For FIA contracts, the cash flow assumptions used to amortize VOBA, DAC, and DSI were consistent with the assumptions used to estimate the value of the embedded derivative and MRBs, and will be reviewed and unlocked, if applicable, in the same period as those balances. For fixed rate annuities and IUL the cash flow assumptions used to amortize VOBA, DAC and DSI reflect the Company’s best estimates for policyholder behavior, consistent with the development of assumptions for FIA and immediate annuity. Refer to Note A - Business and Summary of Significant Accounting Policies for further information about accounting policies for amortization of VOBA, DAC and DSI.

We review cash flow assumptions annually, generally in the third quarter. In 2023, F&G undertook a review of all significant assumptions and revised several assumptions relating to our deferred annuity (FIA and fixed rate annuity) and IUL products, including surrender rates, partial withdrawal rates, mortality improvement, premium persistency, and option budgets. All updates to these assumptions brought us more in line with our company and overall industry experience since the prior assumption update. In 2022, F&G undertook a review of all significant assumptions and revised GMWB utilization for our deferred annuity contracts (FIA and fixed rate annuities) to reflect internal and industry experience in the first several contract years.

For the in-force liabilities as of December 31, 2023, the estimated amortization expense for VOBA in future fiscal periods is as follows:


	Estimated Amortization Expense
Fiscal Year	(In millions)
2024	$	149
2025	139
2026	127
2027	116
2028	105
Thereafter	810
Total	$	1,446

Definite and Indefinite Lived Other Intangible Assets

Other intangible assets as of December 31, 2023, consist of the following:


	Cost		Accumulated amortization		Net carrying amount		Weighted average useful life (years)
	(In millions)
Customer relationships and contracts	$	948	$	(774)	$	174	10
Computer software	651		(385)		266		2 to 10
Value of distribution asset (VODA)	140		(54)		86		15
Trademarks, tradenames, and other	146		(52)		94		Varies
Total					$	620

Other intangible assets as of December 31, 2022, consist of the following:


	Cost		Accumulated amortization		Net carrying amount		Weighted average useful life (years)
	(In millions)
Customer relationships and contracts	$	916	$	(714)	$	202	10
Computer software	537		(341)		196		2 to 10
Value of distribution Asset (VODA)	140		(40)		100		15
Trademarks, tradenames, and other	129		(42)		87		Varies
Total					$	585

Amortization expense for amortizable intangible assets, which consist primarily of VODA, customer relationships and computer software and definite lived trademarks, tradenames and other, was $152 million, $134 million, and $136 million for the years ended December 31, 2023, 2022 and 2021, respectively. Estimated amortization expense for the next five years for assets owned at December 31, 2023, is $126 million in 2024, $101 million in 2025, $78 million in 2026, $61 million in 2027 and $47 million in 2028.

Accounts Payable and Other Accrued Liabilities - Rollforward of Unearned Revenue Liabilities (URL) (Details) - URL - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Contract With Customer Liability [Roll Forward]
Balance, beginning	$ 166	$ 87
Capitalization	119	89
Amortization	(15)	(10)
Balance, ending	270	166
Universal Life
Contract With Customer Liability [Roll Forward]
Balance, beginning	166	87
Capitalization	119	89
Amortization	(15)	(10)
Balance, ending	$ 270	$ 166

Business and Summary of Significant Accounting Policies - Owned Distribution Investments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Commissions	$ 2,008	$ 3,064	$ 3,821
Affiliate
Related Party Transaction [Line Items]
Commissions	$ 154	$ 74

Other Intangible Assets - VOBA (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
VOBA
VOBA at beginning of period	$ 1,615	$ 1,743
Amortization	(169)	(180)	$ (195)
Shadow Premium Deficiency Testing (“PDT”)		52
VOBA at end of period	1,446	1,615	1,743
FIA
VOBA
VOBA at beginning of period	1,166	1,314
Amortization	(141)	(148)
Shadow Premium Deficiency Testing (“PDT”)		0
VOBA at end of period	1,025	1,166	1,314
Fixed Rate Annuities
VOBA
VOBA at beginning of period	32	39
Amortization	(5)	(7)
Shadow Premium Deficiency Testing (“PDT”)		0
VOBA at end of period	27	32	39
Immediate Annuities
VOBA
VOBA at beginning of period	201	212
Amortization	(10)	(11)
Shadow Premium Deficiency Testing (“PDT”)		0
VOBA at end of period	191	201	212
Universal Life
VOBA
VOBA at beginning of period	143	153
Amortization	(9)	(10)
Shadow Premium Deficiency Testing (“PDT”)		0
VOBA at end of period	134	143	153
Traditional Life
VOBA
VOBA at beginning of period	73	25
Amortization	(4)	(4)
Shadow Premium Deficiency Testing (“PDT”)		52
VOBA at end of period	$ 69	$ 73	$ 25

Derivative Financial Instruments

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

The carrying amounts of derivative instruments, including derivative instruments embedded in FIA and IUL contracts, and reinsurance is as follows:


	December 31, 2023		December 31, 2022
Assets:	(In millions)
Derivative investments:
Call options	$	739	$	244
Interest rate swaps	57		—

Foreign currency forward	1		—
Other long-term investments:
Other embedded derivatives	28		23
Prepaid expenses and other assets:
Reinsurance related embedded derivatives	152		279
	$	977	$	546


Liabilities:
Contractholder funds:
FIA/ IUL embedded derivatives	$	4,258	$	3,115







	$	4,258	$	3,115

The change in fair value of derivative instruments included within Recognized gains and losses, net, in the accompanying Consolidated Statements of Earnings is as follows:


	Year ended December 31,
	2023		2022		2021
Net investment gains (losses):	(In millions)
Call options	$	92	$	(862)	$	597
Interest rate swaps	48		—		—
Futures contracts	9		(7)		8
Foreign currency forwards	(2)		12		10
Other derivatives and embedded derivatives	5		(10)		5
Reinsurance related embedded derivatives	(128)		352		34
Total net investment gains (losses)	$	24	$	(515)	$	654

Benefits and other changes in policy reserves:
FIA/ IUL embedded derivatives increase (decrease)	$	1,143	$	(768)	$	479

Additional Disclosures

FIA/IUL Embedded Derivative, Call Options and Futures

We have FIA and IUL contracts that permit the holder to elect an interest rate return or an equity index linked component, where interest credited to the contracts is linked to the performance of various equity indices, primarily the S&P 500 Index. This feature represents an embedded derivative under GAAP. The FIA/IUL embedded derivatives are valued at fair value and included in the liability for contractholder funds in the accompanying Consolidated Balance Sheets with changes in fair value included as a component of Benefits and other changes in policy reserves in the Consolidated Statements of Earnings. See a description of the fair value methodology used in Note D Fair Value of Financial Instruments.

We purchase derivatives consisting of a combination of call options and futures contracts (specifically for FIA contracts) on the applicable market indices to fund the index credits due to FIA/IUL contractholders. The call options are one, two, three, and five year options purchased to match the funding requirements of the underlying policies. On the respective anniversary dates of the indexed policies, the index used to compute the interest credit is reset and we purchase new call options to fund the next index credit. We manage the cost of these purchases through the terms of our FIA/IUL contracts, which permit us to

change caps, spreads or participation rates, subject to guaranteed minimums, on each contract’s anniversary date. The change in the fair value of the call options and futures contracts is generally designed to offset the portion of the change in the fair value of the FIA/IUL embedded derivatives related to index performance through the current credit period. The call options and futures contracts are marked to fair value with the change in fair value included as a component of Recognized gains and losses, net, in the accompanying Consolidated Statements of Earnings. The change in fair value of the call options and futures contracts includes the gains and losses recognized at the expiration of the instrument term or upon early termination and the changes in fair value of open positions.

Other market exposures are hedged periodically depending on market conditions and our risk tolerance. Our FIA/IUL hedging strategy economically hedges the equity returns and exposes us to the risk that unhedged market exposures result in divergence between changes in the fair value of the liabilities and the hedging assets. We use a variety of techniques, including direct estimation of market sensitivities, to monitor this risk daily. We intend to continue to adjust the hedging strategy as market conditions and our risk tolerance changes.

Interest Rate Swaps

We utilize interest rate swaps to reduce market risks from interest rate changes on our earnings associated with our floating rate investments. With an interest rate swap, we agree with another party to exchange the difference between fixed-rate and floating-rate interest amounts tied to an agreed upon notional principal at specified intervals. The interest rate swaps are marked to fair value with the change in fair value, including accrued interest and related periodic cash flows received or paid, included as a component of Recognized gains and losses, net, in the accompanying Consolidated Statements of Earnings.

Reinsurance Related Embedded Derivatives

F&G cedes certain business on a coinsurance funds withheld basis. Investment results for the assets that support the coinsurance that are segregated within the funds withheld account are passed directly to the reinsurer pursuant to the contractual terms of the reinsurance agreement, which creates embedded derivatives considered to be total return swaps. These total return swaps are not clearly and closely related to the underlying reinsurance contract and thus require bifurcation. The fair value of the total return swaps is based on the change in fair value of the underlying assets held in the funds withheld account. These embedded derivatives are reported in Prepaid expenses and other assets if in a net gain position, or Accounts payable and accrued liabilities, if in a net loss position on the Consolidated Balance Sheets and the related gains or losses are reported in Recognized gains and losses, net, on the Consolidated Statements of Earnings.

Credit Risk

We are exposed to credit loss in the event of non-performance by our counterparties on the call options and interest rate swaps and reflect assumptions regarding this non-performance risk in the fair value of the these derivatives. The non-performance risk is the net counterparty exposure based on the fair value of the open contracts less collateral held. We maintain a policy of requiring all derivative contracts to be governed by an International Swaps and Derivatives Association (“ISDA”) Master Agreement.

Information regarding our exposure to credit loss on the call options and interest rate swaps we hold is presented in the following table:


		December 31, 2023
Counterparty	Credit Rating (Fitch/Moody's/S&P) (a)	Notional Amount		Fair Value		Collateral		Net Credit Risk
		(In millions)
Merrill Lynch	AA/*/A+	$	4,408	$	96	$	59	$	37

Morgan Stanley	AA-/Aa3/A+	3,466		102		116		—
Barclay's Bank	A+/A1/A+	6,236		102		100		2
Canadian Imperial Bank of Commerce	AA-/A2/A-	5,983		147		148		—
Wells Fargo	AA-/Aa2/A+	1,443		58		60		—
Goldman Sachs	A+/A1/A+	1,919		45		45		—
Credit Suisse	A+/A3/A+	92		4		4		—
Truist	A+/A2/A	2,759		124		124		—
Citibank	A+/Aa3/A+	1,073		27		28		—
JP Morgan	AA/Aa2/A+	2,589		91		91		—
Total		$	29,968	$	796	$	775	$	39


		December 31, 2022
Counterparty	Credit Rating (Fitch/Moody's/S&P)(a)	Notional Amount		Fair Value		Collateral		Net Credit Risk
		(In millions)
Merrill Lynch	AA/*/A+	$	3,563	$	23	$	—	$	23

Morgan Stanley	*/Aa3/A+	1,699		14		19		—
Barclay's Bank	A+/A1/A	6,049		65		59		6
Canadian Imperial Bank of Commerce	AA/Aa2/A+	5,169		68		64		4
Wells Fargo	A+/A1/BBB+	1,361		17		17		—
Goldman Sachs	A/A2/BBB+	1,133		9		10		—
Credit Suisse	BBB+/A3/A-	1,039		5		5		—
Truist	A+/A2/A	2,489		35		36		—
Citibank	A+/Aa3/A+	795		8		9		—

Total		$	23,297	$	244	$	219	$	33

(a) An * represents credit ratings that were not available.

Collateral Agreements

We are required to maintain minimum ratings as a matter of routine practice as part of our over-the-counter derivative agreements on ISDA forms. Under some ISDA agreements, we have agreed to maintain certain financial strength ratings. A downgrade below these levels provides the counterparty under the agreement the right to terminate the open derivative contracts between the parties, at which time any amounts payable by us or the counterparty would be dependent on the market value of the underlying contracts. Our current rating does not allow any counterparty the right to terminate ISDA agreements. In certain transactions, both us and the counterparty have entered into a collateral support agreement requiring either party to post collateral when the net exposures exceed pre-determined thresholds. For all counterparties, except Merrill Lynch, this threshold is set to zero. As of December 31, 2023 and December 31, 2022, counterparties posted $775 million and $219 million, respectively, of collateral, of which $588 million and $178 million, respectively, is included in cash and cash equivalents with an associated payable for this collateral included in accounts payable and accrued liabilities on the Consolidated Balance Sheets. Accordingly, the maximum amount of loss due to credit risk that we would incur if parties to the derivatives failed completely to perform according to the terms of the contracts was $39 million at December 31, 2023, and $33 million at December 31, 2022.

We are required to pay counterparties the effective federal funds rate each day for cash collateral posted to F&G for daily mark to market margin changes. We reinvest derivative cash collateral to reduce the interest cost. Cash collateral is invested in overnight investment sweep products, which are included in cash and cash equivalents in the accompanying Consolidated Balance Sheets.

We held 439 and 409 futures contracts at December 31, 2023 and December 31, 2022, respectively. The fair value of the futures contracts represents the cumulative unsettled variation margin (open trade equity, net of cash settlements). We provide cash collateral to the counterparties for the initial and variation margin on the futures contracts, which is included in cash and cash equivalents in the accompanying Consolidated Balance Sheets. The amount of cash collateral held by the counterparties for such contracts was $4 million and $3 million at December 31, 2023 and December 31, 2022, respectively.

Investments - Commercial Mortgage Loans Segregated by Aging of Loans and Charge Offs by Year of Origination (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Charge offs
2023	$ 0
2022	0
2021	0
2020	0
2019	0
Credit Quality Indicator Prior Year [Abstract]
Loans under development, amortized cost		$ 9
Loans under development, fair value		9
Commercial Mortgage
Credit Quality Indicator Current Year [Abstract]
2023	213	341
2022	288	1,300
2021	1,256	488
2020	512	0
2019	0	0
Prior	259	278
Total	2,528	2,407
Charge offs
Prior	3
Total charge-offs	3
Credit Quality Indicator Prior Year [Abstract]
2022	213	341
2021	288	1,300
2020	1,256	488
2019	512	0
2018	0	0
Prior	259	278
Total	2,528	2,407
Loans under development, amortized cost	22
Loans under development, fair value	22
Commercial Mortgage \| Current (less than 30 days past due)
Credit Quality Indicator Current Year [Abstract]
2023	213	341
2022	288	1,300
2021	1,256	488
2020	512	0
2019	0	0
Prior	259	269
Total	2,528	2,398
Credit Quality Indicator Prior Year [Abstract]
2022	213	341
2021	288	1,300
2020	1,256	488
2019	512	0
2018	0	0
Prior	259	269
Total	2,528	2,398
Commercial Mortgage \| 30-89 days past due
Credit Quality Indicator Current Year [Abstract]
2023	0	0
2022	0	0
2021	0	0
2020	0	0
2019	0	0
Prior	0	0
Total	0	0
Credit Quality Indicator Prior Year [Abstract]
2022	0	0
2021	0	0
2020	0	0
2019	0	0
2018	0	0
Prior	0	0
Total	0	0
Commercial Mortgage \| 90 days or more past due
Credit Quality Indicator Current Year [Abstract]
2023	0	0
2022	0	0
2021	0	0
2020	0	0
2019	0	0
Prior	0	9
Total	0	9
Credit Quality Indicator Prior Year [Abstract]
2022	0	0
2021	0	0
2020	0	0
2019	0	0
2018	0	0
Prior	0	9
Total	$ 0	$ 9

Business and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Schedule of Changes in Other Comprehensive Earnings (Loss)

Changes in the balance of Other comprehensive earnings (loss) for the years ended December 31, 2023, 2022 and 2021, by component are as follows:


	Unrealized gain (loss) on investments and other financial instruments, net (excluding investments in unconsolidated affiliates)		Change in current discount rate - future policy benefits		Change in instrument-specific credit risk - market risk benefits		Other		Total Accumulated Other Comprehensive Earnings (Loss)
	(In millions)
Balance January 1, 2021	$	1,625	$	(159)	$	(159)	$	24	$	1,331

Reclassification adjustments	(109)		33		3		(28)		(101)
Other comprehensive earnings	(499)		124		10		13		(352)
Balance December 31, 2021	1,017		(2)		(146)		9		878

Reclassification adjustments	(38)		204		16		(9)		173
Other comprehensive earnings	(4,783)		764		67		(4)		(3,956)
Non-controlling interest	33		—		1		1		35
Balance December 31, 2022	(3,771)		966		(62)		(3)		(2,870)
Reclassification adjustments	195		(51)		(7)		(11)		126
Other comprehensive earnings	961		(189)		(34)		21		759
Non-controlling interest	(178)		38		7		(1)		(134)
Balance December 31, 2023	$	(2,793)	$	764	$	(96)	$	6	$	(2,119)

CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Statement of Comprehensive Income [Abstract]

Net earnings

$ 518

$ 1,306

$ 2,817

Other comprehensive earnings:

Unrealized gain (loss) on investments and other financial instruments, net of adjustments to intangible assets and unearned revenue (excluding investments in unconsolidated affiliates)

^[1]

961

(4,783)

(499)

Unrealized gain on investments in unconsolidated affiliates

^[2]

Unrealized gain (loss) on foreign currency translation

^[3]

(18)

(6)

Reclassification adjustments for change in unrealized gains and losses included in net earnings

^[4]

126

173

(101)

Changes in current discount rate - future policy benefit

^[5]

(189)

764

124

Changes in instrument-specific credit risk - market risk benefits

^[6]

(34)

Change in reinsurance liabilities held at fair value resulting from a change in the instrument-specific credit risk

Other comprehensive (loss) earnings attributable to non-controlling interest

^[7]

(134)

Minimum pension liability adjustment

^[8]

(7)

Other comprehensive earnings (loss)

751

(3,748)

(453)

Comprehensive earnings (loss)

1,269

(2,442)

2,364

Less: Comprehensive earnings attributable to non-controlling interests

Comprehensive earnings (loss) attributable to Fidelity National Financial, Inc. common shareholders

$ 1,268

$ (2,454)

$ 2,344

[1]	Net of income tax expense (benefit) of $238 million, $(1,246) million, and $(140) million for the years ended December 31, 2023, 2022, and 2021, respectively.
[2]	Net of income tax expense of $3 million, $3 million, and $7 million for the years ended December 31, 2023, 2022, and 2021, respectively.
[3]	Net of income tax expense (benefit) of $2 million and $(4) million, for the years ended December 31, 2023 and 2022, respectively.
[4]	Net of income tax expense (benefit) of $34 million, $45 million and $(26) million for the years ended December 31, 2023, 2021 and 2021, respectively.
[5]	Net of income tax (benefit) expense of $(50) million, $203 million and $33 million for the years ended December 31, 2023, 2021 and 2021, respectively
[6]	Net of income tax (benefit) expense of $(9) million, $18 million and $3 million for the years ended December 31, 2023, 2021 and 2021, respectively.
[7]	Net of income tax (benefit) expense of $(35) million and $9 million for the years ended December 31, 2023, and 2022, respectively.
[8]	Net of income tax expense (benefit) of $2 million and $(2) million for the years ended December 31, 2022, and 2021, respectively.

CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues:
Direct title insurance premiums	$ 1,982	$ 2,858	$ 3,571
Agency title insurance premiums	2,610	3,976	4,982
Escrow, title-related and other fees	4,717	4,333	4,807
Interest and investment income	2,607	1,891	1,961
Recognized gains and losses, net	(164)	(1,493)	334
Total revenues	11,752	11,565	15,655
Expenses:
Personnel costs	2,908	3,192	3,528
Agent commissions	2,008	3,064	3,821
Other operating expenses	1,521	1,721	1,929
Benefits and other changes in policy reserves	3,553	1,126	1,932
Market risk benefit losses (gains)	95	(182)	(44)
Depreciation and amortization	593	491	432
Provision for title claim losses	207	308	385
Interest expense	174	115	114
Total expenses	11,059	9,835	12,097
Earnings from continuing operations before income taxes and equity in earnings of unconsolidated affiliates	693	1,730	3,558
Income tax expense	192	439	813
Earnings before equity in earnings of unconsolidated affiliates	501	1,291	2,745
Equity in earnings of unconsolidated affiliates	17	15	64
Net earnings from continuing operations	518	1,306	2,809
Net earnings from discontinued operations, net of tax	0	0	8
Net earnings	518	1,306	2,817
Less: Net earnings attributable to non-controlling interests	1	12	20
Net earnings attributable to Fidelity National Financial, Inc. common shareholders	$ 517	$ 1,294	$ 2,797
Basic
Net earnings from continuing operations attributable to FNF commons shareholders (in usd per share)	$ 1.91	$ 4.71	$ 9.78
Net earnings (loss) from discontinued operations attributable to FNF common shareholders (in usd per share)	0	0	0.03
Net earnings per share attributable to FNF common shareholders, basic (in usd per share)	1.91	4.71	9.81
Diluted
Net earnings from continuing operations attributable to FNF commons shareholders (in usd per share)	1.91	4.67	9.72
Net earnings (loss) from discontinued operations attributable to FNF common shareholders (in usd per share)	0	0	0.03
Net earnings per share attributable to FNF common shareholders, diluted (in usd per share)	$ 1.91	$ 4.67	$ 9.75
Weighted average shares outstanding FNF common stock, basic basis (in shares)	270	275	285
Weighted average shares outstanding FNF common stock, diluted basis (in shares)	271	277	287

F&G Reinsurance - Narrative (Details) $ in Millions	12 Months Ended
F&G Reinsurance - Narrative (Details) $ in Millions	Dec. 31, 2023 USD ($) policy	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Effects of Reinsurance [Line Items]
Number of policies reinsured by foreign company not engaged in insurance \| policy	0
Reinsurance risk charge fee	$ 39	$ 36	$ 28
Canada Life Assurance Company, US
Effects of Reinsurance [Line Items]
Recapture And Termination Agreement, liabilities and obligations recaptured, percentage	100.00%
Raven Re \| Intercompany Reinsurance Agreements \| Affiliate
Effects of Reinsurance [Line Items]
Remaining borrowing capacity	$ 200
F&G Cayman Re Ltd \| Intercompany Reinsurance Agreements \| Affiliate
Effects of Reinsurance [Line Items]
Remaining borrowing capacity	200
Corbeau Re \| Affiliate
Effects of Reinsurance [Line Items]
Excess of loss agreement, maximum loss coverage	$ 1,500

Goodwill (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

A summary of the changes in Goodwill consists of the following:


	Title		F&G		Corporate and Other		Total
	(In millions)
Balance, December 31, 2021	$	2,517	$	1,749	$	266	$	4,532
Goodwill associated with acquisitions	103		—		—		103

Balance, December 31, 2022	$	2,620	$	1,749	$	266	$	4,635
Goodwill associated with acquisitions	168		—		27		195




Balance, December 31, 2023	$	2,788	$	1,749	$	293	$	4,830

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

Leases - Narrative (Details) $ in Millions	12 Months Ended
Leases - Narrative (Details) $ in Millions	Dec. 31, 2023 USD ($) optionsToRenew	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Debt Instrument [Line Items]
Operating leases weighted average remaining lease term	4 years 3 months 18 days
Options to renew \| optionsToRenew	1
Weighted average discount rate, percent	4.20%
Operating lease costs \| $	$ 137	$ 142	$ 139
LIBOR \| Line of Credit \| Revolving Credit Facility \| Revolving Credit Facility, due April 2022
Debt Instrument [Line Items]
Basis spread on variable rate (as percent)	1.40%
Minimum
Debt Instrument [Line Items]
Operating lease, term	1 year
Maximum
Debt Instrument [Line Items]
Operating lease, term	10 years

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Investments
Fixed maturity securities available for sale, at fair value, at December 31, 2023 and December 31, 2022, at an amortized cost of $45,606 and $37,708, respectively, net of allowance for credit losses of $42 and $39, respectively, and includes pledged fixed maturity securities of $489 and $448, respectively, related to secured trust deposits	$ 42,373	$ 33,095
Derivative investments	797	244
Mortgage loans, net of allowance for credit losses of $66 and $42 at December 31, 2023 and 2022, respectively.	5,336	4,554
Investments in unconsolidated affiliates	3,334	2,642
Other long-term investments	703	664
Short-term investments, at December 31, 2023 and December 31, 2022 includes pledged short-term investments of $1 and $6, respectively, related to secured trust deposits	2,119	2,590
Total investments	56,049	45,370
Cash and cash equivalents, at December 31, 2023 and 2022 includes $262 and $242, respectively, of pledged cash related to secured trust deposits	2,767	2,286
Trade and notes receivables, net of allowance of $32 and $33 at December 31, 2023 and 2022, respectively	442	467
Reinsurance recoverable, net of allowance for credit losses of $21 and $10 at December 31, 2023 and 2022, respectively	8,977	5,418
Goodwill	4,830	4,635
Prepaid expenses and other assets	1,900	2,068
Market risk benefits assets	88	117
Lease assets	348	376
Other intangible assets, net	4,627	3,811
Title plants	418	416
Property and equipment, net	168	179
Total assets	80,614	65,143
Liabilities:
Contractholder funds	48,798	40,843
Future policy benefits	7,050	5,021
Accounts payable and accrued liabilities	3,009	2,326
Market risk benefits liability	403	282
Notes payable	3,887	3,238
Reserve for title claim losses	1,770	1,810
Funds withheld for reinsurance liabilities	7,083	3,703
Secured trust deposits	731	862
Lease liabilities	394	418
Income taxes payable	0	0
Deferred tax liability	29	71
Total liabilities	73,154	58,574
Equity:
FNF common stock, $0.0001 par value; authorized 600,000,000 shares as of December 31, 2023 and 2022, respectively; outstanding of 273,251,449 and 272,309,890 as of December 31, 2023 and 2022, respectively, and issued of 329,185,916 and 327,757,349 as of December 31, 2023 and 2022, respectively	0	0
Preferred stock, $0.0001 par value; authorized 50,000,000 shares; issued and outstanding, none	0	0
Additional paid-in capital	5,913	5,870
Retained earnings	5,244	5,225
Accumulated other comprehensive earnings	(2,119)	(2,870)
Less: Treasury stock, 55,934,467 shares and 55,447,459 shares as of December 31, 2023 and 2022, respectively, at cost	(2,130)	(2,109)
Total Fidelity National Financial, Inc. shareholders’ equity	6,908	6,116
Non-controlling interests	552	453
Total equity	7,460	6,569
Total liabilities and equity	80,614	65,143
Preferred securities
Investments
Securities, at fair value	621	903
Equity securities
Investments
Securities, at fair value	$ 766	$ 678

Summary of Reserve for Title Claim Losses

12 Months Ended

Dec. 31, 2023

Insurance [Abstract]

Summary of Reserve for Title Claim Losses

A summary of the reserve for title claim losses follows:


	Year Ended December 31,
	2023			2022			2021
	(Dollars in millions)
Beginning balance	$	1,810		$	1,883		$	1,623

Change in insurance recoverable	15			(128)			94
Claim loss provision related to:
Current year	207			308			385
Prior years	—			—			—
Total title claim loss provision	207			308			385
Claims paid, net of recoupments related to:
Current year	(22)			(21)			(14)
Prior years	(240)			(232)			(205)
Total title claims paid, net of recoupments	(262)			(253)			(219)
Ending balance of claim loss reserve for title insurance	$	1,770		$	1,810		$	1,883
Provision for title insurance claim losses as a percentage of title insurance premiums	4.5		%	4.5		%	4.5		%

consolidated into one action, they have been deemed by the court to be related and are assigned to the same judge for purposes of judicial economy.

Regulation and Equity

Regulation

Title

F&G


	Subsidiary (state of domicile) (a)
	FGL Insurance (IA)		FGL NY Insurance (NY)		Raven Re (VT)		Corbeau Re (VT)
Statutory Net income (loss):	(In millions)
Year ended December 31, 2023	$	(462)	$	5	$	60	$	(644)
Year ended December 31, 2022	(243)		(15)		(111)		—
Year ended December 31, 2021	351		4		3		—

Statutory Capital and Surplus:
December 31, 2023	$	2,009	$	86	$	140	$	171
December 31, 2022	1,877		82		121		—

(a) FGL NY Insurance, Raven Re and Corbeau Re are subsidiaries of FGL Insurance, and the columns should not be added together. Corbeau Re was incorporated on September 1, 2023.

Regulation - U.S. Companies

FGL Insurance, FGL NY Insurance, Raven Re's and Corbeau Re’s respective statutory capital and surplus satisfy the applicable minimum regulatory requirements.

Dividends

The insurance laws of Iowa and New York regulate the amount of dividends that may be paid in any year by FGL Insurance and FGL NY Insurance, respectively.

Prescribed and permitted practices

and its risk-based capital would fall below the minimum regulatory requirements. FGL Insurance’s statutory carrying value of Corbeau Re was $171 million at December 31, 2023

Non-U.S. Companies

Net income and capital and surplus of our wholly owned Bermuda and Cayman Islands regulated insurance subsidiaries under U.S. GAAP were as follows (in millions):


	Subsidiary (country of domicile)
	F&G Cayman Re (Cayman Islands)		F&G Life Re (Bermuda)
Statutory Net income (loss):
Year ended December 31, 2023	$	384	$	151
Year ended December 31, 2022	(299)		(339)
Year ended December 31, 2021	99		94
Statutory Capital and Surplus (Deficit):
December 31, 2023	$	114	$	11
December 31, 2022	(126)		(138)

Equity

Supplemental Cash Flow Information

12 Months Ended

Dec. 31, 2023

Supplemental Cash Flow Elements [Abstract]

Supplemental Cash Flow Information

The following supplemental cash flow information is provided with respect to certain cash payment and non-cash investing and financing activities.


	Year Ended December 31,
	2023		2022		2021

Cash paid for:	(In millions)
Interest	$	157	$	125	$	112
Income taxes	216		387		653
Deferred sales inducements	168		87		90
Non-cash investing and financing activities:

Distribution of 15% of the common stock of F&G	$	—	$	421	$	—
Investments received from pension risk transfer premiums	464		—		316
Change in proceeds of sales of investments available for sale receivable in period	32		96		(160)
Change in purchases of investments available for sale payable in period	20		(25)		18
Lease liabilities recognized in exchange for lease right-of-use assets	40		70		47
Remeasurement of lease liabilities	75		60		87
Liabilities assumed in connection with acquisitions
Fair value of assets acquired	304		266		85
Less: Total Purchase price	299		180		59
Liabilities and noncontrolling interests assumed	$	5	$	86	$	26

Future Policy Benefits (Tables)

12 Months Ended

Dec. 31, 2023

Insurance [Abstract]

Summary Balances and Changes in the Present Value of Expected Net Premiums and Present Value

The following table summarizes balances and changes in the present value of expected net premiums and the present value of the expected FPB for nonparticipating traditional contracts:


	December 31, 2023		December 31, 2022		December 31, 2021
Expected net premiums	(Dollars in millions)
Balance, beginning of year	$	797	$	1,020	$	1,152
Beginning balance at original discount rate	974		1,045		1,131

Effect of actual variances from expected experience	(1)		33		25
Balance adjusted for variances from expectation	$	973	$	1,078	$	1,156

Interest accrual	19		20		22
Net premiums collected	(118)		(124)		(133)

Ending Balance at original discount rate	$	874	$	974	$	1,045
Effect of changes in discount rate assumptions	(152)		(177)		(25)
Balance, end of year	$	722	$	797	$	1,020

Expected FPB
Balance, beginning of year	$	2,151	$	2,772	$	3,105
Beginning balance at original discount rate	2,665		2,806		2,995

Effect of actual variances from expected experience	(24)		13		(14)
Balance adjusted for variances from expectation	$	2,641	$	2,819	$	2,981

Interest accrual	56		59		62
Benefits payments	(205)		(213)		(237)

Ending Balance at original discount rate	$	2,492	$	2,665	$	2,806
Effect of changes in discount rate assumptions	(421)		(514)		(34)
Balance, end of year	$	2,071	$	2,151	$	2,772

Net liability for future policy benefits	$	1,349	$	1,354	$	1,752
Less: Reinsurance recoverable	413		612		749
Net liability for future policy benefits, after reinsurance recoverable	$	936	$	742	$	1,003

Weighted-average duration of liability for future policyholder benefits (years)	7.36		7.58		8.54

The following tables summarize balances and changes in the present value of the expected FPB for limited-payment contracts:


	December 31, 2023		December 31, 2022		December 31, 2021
	PRT
Balance, beginning of year	$	2,165	$	1,148	$	—
Beginning balance at original discount rate	2,475		1,151		—
Effect of changes in cash flow assumptions	(9)		(20)		—
Effect of actual variances from expected experience	(7)		2		—
Balance adjusted for variances from expectation	$	2,459	$	1,133	$	—
Issuances	2,041		1,418		1,155
Interest accrual	109		50		2
Benefits payments	(258)		(126)		(6)

Ending Balance at original discount rate	$	4,351	$	2,475	$	1,151
Effect of changes in discount rate assumptions	(162)		(310)		(3)
Balance, end of year	$	4,189	$	2,165	$	1,148

Net liability for future policy benefits	$	4,189	$	2,165	$	1,148
Less: Reinsurance recoverable	—		—		—
Net liability for future policy benefits, after reinsurance recoverable	$	4,189	$	2,165	$	1,148

Weighted-average duration of liability for future policyholder benefits (years)	8.23		8.09		8.75


	December 31, 2023		December 31, 2022		December 31, 2021
	Immediate annuities
Balance, beginning of year	$	1,429	$	1,954	$	2,153
Beginning balance at original discount rate	1,858		1,935		2,040
Effect of changes in cash flow assumptions	—		—		—
Effect of actual variances from expected experience	(15)		(26)		(47)
Balance adjusted for variances from expectation	$	1,843	$	1,909	$	1,993
Issuances	22		26		18
Interest accrual	51		60		60
Benefits payments	(128)		(137)		(136)

Ending Balance at original discount rate	$	1,788	$	1,858	$	1,935
Effect of changes in discount rate assumptions	(373)		(429)		19
Balance, end of year	$	1,415	$	1,429	$	1,954

Net liability for future policy benefits	$	1,415	$	1,429	$	1,954
Less: Reinsurance recoverable	116		118		145
Net liability for future policy benefits, after reinsurance recoverable	$	1,299	$	1,311	$	1,809

Weighted-average duration of liability for future policyholder benefits (years)	12.47		11.76		13.61

Summary of Changes in Liability for Deferred Profit Liability

The following tables summarize balances and changes in the liability for DPL for limited-payment contracts:


	December 31, 2023				December 31, 2022				December 31, 2021
	Immediate annuities		PRT		Immediate annuities		PRT		Immediate annuities		PRT
					(In millions)
Balance, beginning of year	$	69	$	4	$	57	$	7	$	22	$	—
Effect of modeling changes	4		—		—		—		—		—
Effect of changes in cash flow assumptions	—		1		—		(2)		—		—
Effect of actual variances from expected experience	16		5		16		—		39		—
Balance adjusted for variances from expectation	89		10		73		5		61		—
Issuances	3		—		1		—		—		7
Interest accrual	2		1		2		—		2		—
Amortization	(7)		(1)		(7)		(1)		(6)		—
Balance, end of year	$	87	$	10	$	69	$	4	$	57	$	7

Schedule Of Reconciliation Of Future Policy Benefits To Statement Of Financial Position


	December 31, 2023		December 31, 2022		December 31, 2021
	(In millions)
Traditional Life	$	1,349	$	1,354	$	1,752
Immediate annuities	1,415		1,429		1,954
PRT	4,189		2,165		1,148
Immediate annuities DPL	87		69		57
PRT DPL	10		4		7
Total	$	7,050	$	5,021	$	4,918

Schedule Of Liability For Future Policy Benefit Expected Future Policy Benefit Undiscounted Before Reinsurance


	Undiscounted				Discounted
	December 31, 2023		December 31, 2022		December 31, 2023		December 31, 2022
Traditional Life	(In millions)
Expected future benefit payments	$	2,935	$	3,132	$	2,075	$	2,640
Expected future gross premiums	1,082		1,209		789		1,043
Immediate annuities
Expected future benefit payments	$	3,291	$	3,434	$	1,413	$	1,858
Expected future gross premiums	—		—		—		—
PRT
Expected future benefit payments	$	6,709	$	3,569	$	4,350	$	2,472
Expected future gross premiums	—		—		—		—

Revenue from External Customers by Products and Services

The following table summarizes the amount of revenue and interest related to nonparticipating traditional and limited-payment contracts recognized in the Consolidated Statements of Earnings:


	Gross Premiums (a)						Interest Expense (b)
	December 31, 2023		December 31, 2022		December 31, 2021		December 31, 2023		December 31, 2022		December 31, 2021
	(In millions)
Traditional Life	$	123	$	137	$	152	$	37	$	39	$	40
Immediate annuities	24		23		16		51		60		60
PRT	1,964		1,362		1,146		109		50		2
Total	$	2,111	$	1,522	$	1,314	$	197	$	149	$	102

(a) Included in Life insurance premiums and other fees on the Consolidated Statements of Earnings.

(b) Included in Benefits and other changes in policy reserves (remeasurement gains (losses) (a)) on the Consolidated Statements of Earnings.

Schedule Of Liability For Future Policy Benefit, Weighted Average Discount Rates

The following table presents the weighted-average interest rate:


	December 31, 2023		December 31, 2022		December 31, 2021
Traditional Life
Interest accretion rate	2.33	%	2.32	%	2.29	%
Current discount rate	5.03	%	5.37	%	2.41	%
Immediate annuities
Interest accretion rate	3.14	%	3.07	%	3.04	%
Current discount rate	4.98	%	5.21	%	3.07	%
PRT
Interest accretion rate	4.61	%	3.20	%	1.20	%
Current discount rate	5.03	%	5.40	%	2.79	%

Schedule Of Liability for Future Policy Benefit, Mortality And Lapse, Actual And Expected Experience

The following tables summarize the actual experience and expected experience for mortality and lapses of the FPB:


	December 31, 2023
	Traditional Life		Immediate annuities		PRT
Mortality
Actual experience	1.7	%	3.2	%	3.2	%
Expected experience	1.4	%	1.8	%	2.3	%
Lapses
Actual experience	—	%	—	%	—	%
Expected experience	0.3	%	—	%	—	%


	December 31, 2022
	Traditional Life		Immediate annuities		PRT
Mortality
Actual experience	1.5	%	3.0	%	1.9	%
Expected experience	1.3	%	1.9	%	2.5	%
Lapses
Actual experience	—	%	—	%	—	%
Expected experience	0.3	%	—	%	—	%


	December 31, 2021
	Traditional Life		Immediate annuities		PRT
Mortality
Actual experience	1.7	%	4.2	%	—	%
Expected experience	1.3	%	2.0	%	—	%
Lapses
Actual experience	0.1	%	—	%	—	%
Expected experience	0.3	%	—	%	—	%

Liability For Future Policy Benefits, Additional Information

The following table provides additional information for periods in which a cohort has an NPR > 100% (and therefore capped at 100%) (dollars in millions):

December 31, 2022

Cohort X

Description (a)

Net Premium Ratio before capping

100

Term with ROP Non-NY Cohort

Reserves before NP Ratio capping

1,172

Term with ROP Non-NY Cohort

Reserves after NP Ratio capping

1,173

Term with ROP Non-NY Cohort

Loss Expense

—

Term with ROP Non-NY Cohort

(a) Return of Premium (“ROP”)

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 1,863	$ 2,232	$ 2,821
Interest and investment income	2,607	1,891	1,961
Recognized gains and losses, net	(164)	(1,493)	334
Total revenues	11,752	11,565	15,655
Title
Disaggregation of Revenue [Line Items]
Loan subservicing revenue	262	263	364
Title \| Direct title insurance premiums
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	1,982	2,858	3,571
Title \| Agency title insurance premiums
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	2,610	3,976	4,982
Title \| Home warranty
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	143	165	185
Title \| Insurance contracts
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	7,148	8,703	10,145
Title \| Escrow fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	766	980	1,395
Title \| Other title-related fees and income
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	633	752	888
Title \| ServiceLink, excluding title premiums, escrow fees, and subservicing fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	313	342	396
F&G \| Life insurance premiums, insurance and investment product fees, and other
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	2,413	1,704	1,407
F&G \| Life insurance premiums, insurance and investment product fees, other, pension risk transfer
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	1,964	1,362	1,146
Corporate and other \| Real estate technology
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	151	158	142
Corporate and other \| Other
Disaggregation of Revenue [Line Items]
Other Income	$ 36	$ (31)	$ 30

Derivative Financial Instruments - Exposure to Credit Loss on Call Options Held (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Fair Value	$ 977	$ 546
Not Designated as Hedging Instrument \| Call options
Derivatives, Fair Value [Line Items]
Notional Amount	29,968	23,297
Fair Value	796	244
Collateral	775	219
Net Credit Risk	39	33
Not Designated as Hedging Instrument \| Call options \| Merrill Lynch
Derivatives, Fair Value [Line Items]
Notional Amount	4,408	3,563
Fair Value	96	23
Collateral	59	0
Net Credit Risk	37	23
Not Designated as Hedging Instrument \| Call options \| Morgan Stanley
Derivatives, Fair Value [Line Items]
Notional Amount	3,466	1,699
Fair Value	102	14
Collateral	116	19
Net Credit Risk	0	0
Not Designated as Hedging Instrument \| Call options \| Barclay's Bank
Derivatives, Fair Value [Line Items]
Notional Amount	6,236	6,049
Fair Value	102	65
Collateral	100	59
Net Credit Risk	2	6
Not Designated as Hedging Instrument \| Call options \| Canadian Imperial Bank of Commerce
Derivatives, Fair Value [Line Items]
Notional Amount	5,983	5,169
Fair Value	147	68
Collateral	148	64
Net Credit Risk	0	4
Not Designated as Hedging Instrument \| Call options \| Wells Fargo
Derivatives, Fair Value [Line Items]
Notional Amount	1,443	1,361
Fair Value	58	17
Collateral	60	17
Net Credit Risk	0	0
Not Designated as Hedging Instrument \| Call options \| Goldman Sachs
Derivatives, Fair Value [Line Items]
Notional Amount	1,919	1,133
Fair Value	45	9
Collateral	45	10
Net Credit Risk	0	0
Not Designated as Hedging Instrument \| Call options \| Credit Suisse
Derivatives, Fair Value [Line Items]
Notional Amount	92	1,039
Fair Value	4	5
Collateral	4	5
Net Credit Risk	0	0
Not Designated as Hedging Instrument \| Call options \| Truist
Derivatives, Fair Value [Line Items]
Notional Amount	2,759	2,489
Fair Value	124	35
Collateral	124	36
Net Credit Risk	0	0
Not Designated as Hedging Instrument \| Call options \| Citibank
Derivatives, Fair Value [Line Items]
Notional Amount	1,073	795
Fair Value	27	8
Collateral	28	9
Net Credit Risk	0	$ 0
Not Designated as Hedging Instrument \| Call options \| JP Morgan
Derivatives, Fair Value [Line Items]
Notional Amount	2,589
Fair Value	91
Collateral	91
Net Credit Risk	$ 0

Future Policy Benefits - Summary of Balances and Changes in the Deferred Profit Liability (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Immediate Annuities
Liability for Future Policy Benefit, Activity [Line Items]
Balance, beginning of year	$ 69	$ 57	$ 22
Effect of modeling changes		4	0	$ 0
Effect of changes in cash flow assumptions		0	0	0
Effect of actual variances from expected experience		16	16	39
Balance adjusted for variances from expectation		89	73	61
Issuances	3	1	0
Interest accrual	2	2	2
Amortization	(7)	(7)	(6)
Balance, end of year	87	69	57
PRT
Liability for Future Policy Benefit, Activity [Line Items]
Balance, beginning of year	4	7	0
Effect of modeling changes		0	0	0
Effect of changes in cash flow assumptions		1	(2)	0
Effect of actual variances from expected experience		5	0	0
Balance adjusted for variances from expectation		10	5	$ 0
Issuances	0	0	7
Interest accrual	1	0	0
Amortization	(1)	(1)	0
Balance, end of year	$ 10	$ 4	$ 7

Cover - USD ($)	12 Months Ended
Cover - USD ($)	Dec. 31, 2023	Jan. 31, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	1-32630
Entity Registrant Name	FIDELITY NATIONAL FINANCIAL, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	16-1725106
Entity Address, Address Line One	601 Riverside Avenue
Entity Address, City or Town	Jacksonville
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	32204
City Area Code	904
Local Phone Number	854-8100
Title of 12(b) Security	FNF Common Stock, $0.0001 par value
Trading Symbol	FNF
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 9,292,382,960
Entity Common Stock, Shares Outstanding		273,206,573
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Central Index Key	0001331875

Employee Benefit Plans - Options Outstanding and Exercisable by Exercise Price (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) $ / shares shares
$0.00 - $28.00
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price range, lower range limit (in dollars per share)	$ 0.00
Exercise price range, upper range limit (in dollars per share)	28.00
$28.01 - $39.10
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price range, lower range limit (in dollars per share)	28.01
Exercise price range, upper range limit (in dollars per share)	$ 39.10
The Omnibus Plan
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of outstanding options (in shares) \| shares	643,623
Outstanding options, intrinsic value \| $	$ 7
Number of exercisable options (in shares) \| shares	643,623
Exercisable options, intrinsic value \| $	$ 7
The Omnibus Plan \| $0.00 - $28.00
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of outstanding options (in shares) \| shares	17,409
Outstanding options, weighted average remaining contractual term (in years)	2 years 7 months 6 days
Outstanding options, weighted average exercise price (in dollars per share)	$ 28.00
Outstanding options, intrinsic value \| $	$ 0
Number of exercisable options (in shares) \| shares	17,409
Exercisable options, weighted average remaining contractual term (in years)	2 years 7 months 6 days
Exercisable options, weighted average exercise price (in dollars per share)	$ 28.00
Exercisable options, intrinsic value \| $	$ 0
The Omnibus Plan \| $28.01 - $39.10
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of outstanding options (in shares) \| shares	626,214
Outstanding options, weighted average remaining contractual term (in years)	1 year 9 months 3 days
Outstanding options, weighted average exercise price (in dollars per share)	$ 39.10
Outstanding options, intrinsic value \| $	$ 7
Number of exercisable options (in shares) \| shares	626,214
Exercisable options, weighted average remaining contractual term (in years)	1 year 9 months 3 days
Exercisable options, weighted average exercise price (in dollars per share)	$ 39.10
Exercisable options, intrinsic value \| $	$ 7

Employee Benefit Plans - Pension Plans (Details) - Pension Plan - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2000	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Consecutive months with highest compensation in which benefits are based	60 months
Months ending at retirement or termination in which benefits are based	120 months
Discount rate		4.67%	4.85%
Benefit obligation		$ 64	$ 117
Fair value of plan assets		$ 54	$ 112

- Definition

Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee.

+ References + Details

Investments - Proceeds From the Sale of Fixed-Maturity Available-For-Sale Securities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Proceeds	$ 2,698	$ 3,264	$ 4,749
Gross gains	18	14	158
Gross losses	$ (145)	$ (252)	$ (49)

Schedule II - Condensed Financial Information - Statement of Earnings (Parent Company) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues:
Other fees and revenue	$ 4,717	$ 4,333	$ 4,807
Interest and investment income and realized gains	2,443	398	2,295
Recognized gains and losses, net	(164)	(1,493)	334
Total revenues	11,752	11,565	15,655
Expenses:
Personnel costs	2,908	3,192	3,528
Other operating expenses	1,521	1,721	1,929
Interest expense	174	115	114
Total expenses	11,059	9,835	12,097
Earnings from continuing operations before income taxes and equity in earnings of unconsolidated affiliates	693	1,730	3,558
Income tax expense	192	439	813
Earnings from continuing operations	518	1,306	2,809
Equity in earnings of discontinued operations	0	0	8
Net earnings attributable to FNF common shareholders	517	1,294	2,797
Beginning balance	6,569	10,004	8,493
Dividends declared	(498)	(490)	(447)
Ending balance	7,460	6,569	10,004
Retained Earnings
Expenses:
Beginning balance	5,225	4,818	2,468
Dividends declared	(498)	(490)	(447)
Ending balance	5,244	5,225	4,818
Parent Company
Revenues:
Other fees and revenue	33	(37)	24
Interest and investment income and realized gains	74	43	17
Recognized gains and losses, net	(31)	(42)	12
Total revenues	76	(36)	53
Expenses:
Personnel costs	70	(11)	54
Other operating expenses	47	15	25
Interest expense	77	92	87
Total expenses	194	96	166
Earnings from continuing operations before income taxes and equity in earnings of unconsolidated affiliates	(118)	(132)	(113)
Income tax expense	(29)	(33)	(27)
Losses before equity in earnings of subsidiaries	(89)	(99)	(86)
Equity in earnings of subsidiaries	606	1,393	2,875
Earnings from continuing operations	517	1,294	2,789
Equity in earnings of discontinued operations	0	0	8
Net earnings attributable to FNF common shareholders	517	1,294	2,797
Parent Company \| Retained Earnings
Expenses:
Net earnings attributable to FNF common shareholders	517	1,294	2,797
Beginning balance	5,225	4,818	2,468
Dividends declared	(498)	(490)	(447)
Distribution of F&G to FNF common shareholders	0	(397)	0
Ending balance	$ 5,244	$ 5,225	$ 4,818

F&G Reinsurance - Credit Loss (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Reinsurance Recoverable, Allowance for Credit Loss [Roll Forward]
Balance at Beginning of Period	$ (10)	$ (20)
Changes in the expected credit loss reserve	(11)	10
Charge offs	0	0
Balance at Ending of Period	$ (21)	$ (10)

Contractholder Funds - Summary of Balances and Changes in Contractholder Funds (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Policyholder Account Balance [Roll Forward]
Balance, beginning of year	$ 40,843
Balance, end of year	48,798	$ 40,843
Embedded derivative adjustment	11	(10)	$ 6
Gross Liability, end of period	48,798	40,843	34,753
Less: Reinsurance	(8,977)	(5,418)
Net amount at risk		53,348
FIA
Policyholder Account Balance [Roll Forward]
Balance, beginning of year	24,766	21,997	18,703
Issuances	4,722	4,462	4,400
Premiums received	103	106	103
Policy charge	(182)	(166)	(148)
Surrenders and withdrawals	(2,005)	(1,322)	(1,303)
Benefit payments	(526)	(485)	(440)
Interest credited	270	198	686
Other	16	(24)	(4)
Balance, end of year	27,164	24,766	21,997
Embedded derivative adjustment	243	(343)	603
Gross Liability, end of period	27,407	24,423	22,600
Less: Reinsurance	(17)	(17)	(17)
Net Liability, after Reinsurance	$ 27,390	$ 24,406	$ 22,583
Weighted-average crediting rate	1.40%	0.85%	3.43%
Cash surrender value	$ 25,099	$ 23,049	$ 20,455
Fixed Rate Annuities
Policyholder Account Balance [Roll Forward]
Balance, beginning of year	9,358	6,367	5,142
Issuances	5,061	3,758	1,743
Premiums received	1	3	3
Policy charge	0	(1)	(1)
Surrenders and withdrawals	(1,142)	(797)	(543)
Benefit payments	(240)	(192)	(145)
Interest credited	405	220	167
Other	0	0	1
Balance, end of year	13,443	9,358	6,367
Embedded derivative adjustment	0	0	0
Gross Liability, end of period	13,443	9,358	6,367
Less: Reinsurance	(7,520)	(3,723)	(1,692)
Net Liability, after Reinsurance	$ 5,923	$ 5,635	$ 4,675
Weighted-average crediting rate	4.85%	2.84%	2.94%
Cash surrender value	$ 12,505	$ 8,744	$ 5,992
Universal Life
Policyholder Account Balance [Roll Forward]
Balance, beginning of year	2,112	1,907	1,696
Issuances	199	167	114
Premiums received	382	295	233
Policy charge	(261)	(209)	(167)
Surrenders and withdrawals	(90)	(74)	(68)
Benefit payments	(27)	(22)	(19)
Interest credited	76	48	118
Other	0	0	0
Balance, end of year	2,391	2,112	1,907
Embedded derivative adjustment	84	15	74
Gross Liability, end of period	2,475	2,127	1,981
Less: Reinsurance	(894)	(947)	(984)
Net Liability, after Reinsurance	$ 1,581	$ 1,180	$ 997
Weighted-average crediting rate	3.44%	2.39%	6.77%
Net amount at risk	$ 60,389		$ 41,326
Cash surrender value	1,872	$ 1,698	1,572
Funding Agreements, FABN
Policyholder Account Balance [Roll Forward]
Balance, beginning of year	2,613	1,904	0
Issuances	0	700	1,899
Premiums received	0	0	0
Policy charge	0	0	0
Surrenders and withdrawals	0	0	0
Benefit payments	(53)	(35)	(7)
Interest credited	54	45	12
Other	(1)	(1)	0
Balance, end of year	2,613	2,613	1,904
Embedded derivative adjustment	0	0	0
Gross Liability, end of period	2,613	2,613	1,904
Less: Reinsurance	0	0	0
Net Liability, after Reinsurance	2,613	2,613	1,904
Federal Home Loan Bank Funding Agreements
Policyholder Account Balance [Roll Forward]
Balance, beginning of year	1,982	1,543	1,203
Issuances	1,256	1,192	759
Premiums received	0	0	0
Policy charge	0	0	0
Surrenders and withdrawals	0	0	0
Benefit payments	(763)	(789)	(447)
Interest credited	64	36	30
Other	0	0	(2)
Balance, end of year	2,539	1,982	1,543
Embedded derivative adjustment	0	0	0
Gross Liability, end of period	2,539	1,982	1,543
Less: Reinsurance	0	0	0
Net Liability, after Reinsurance	$ 2,539	$ 1,982	$ 1,543

Financial Instruments with Off-Balance Sheet Risk and Concentration of Risk (Tables)

12 Months Ended

Dec. 31, 2023

Risks and Uncertainties [Abstract]

Schedules of Title Insurance Premiums as a Percentage of Total Title Insurance Premiums Written

Our underlying investment concentrations that exceed 10% of shareholders equity are as follows:


	December 31, 2023		December 31, 2022
	(In millions)
Blackstone Wave Asset Holdco (1)	$	725	$	741

__________________

Title insurance premiums as a percentage of the total title insurance premiums written from those five states are detailed as follows:


	2023		2022		2021
Texas	14.3	%	15.0	%	13.0	%
California	13.0	%	12.0	%	14.6	%
Florida	10.7	%	10.6	%	9.3	%
Illinois	6.0	%	5.3	%	5.1	%
Pennsylvania	4.9	%	5.2	%	5.1	%

Business and Summary of Significant Accounting Policies - Recent Developments (Details) $ / shares in Units, customer in Millions, $ in Millions					12 Months Ended
	Jan. 16, 2024 USD ($)	Jan. 12, 2024 USD ($) $ / shares shares	Jan. 02, 2024 USD ($)	Jan. 01, 2023 USD ($)	Dec. 31, 2023 USD ($) customer $ / shares	Feb. 16, 2024 USD ($)	Dec. 06, 2023 USD ($)	Feb. 21, 2023 USD ($)	Jan. 13, 2023 USD ($)	Dec. 31, 2022 USD ($) $ / shares	Nov. 22, 2022 USD ($)
Business Acquisition [Line Items]
Contingent consideration - acquisitions					$ 49					$ 47
Preferred stock, par or stated value per share (in dollars per share) \| $ / shares					$ 0.0001					$ 0.0001
Loss Contingency, Number Of Potentially Impacted Customers \| customer					1.3
TitlePoint
Business Acquisition [Line Items]
Cash paid for acquisition				$ 224
7.95% Senior Notes Due 2053 \| Senior Notes
Business Acquisition [Line Items]
Debt instrument, interest rate, stated percentage					7.95%		7.95%
Aggregate principal amount							$ 345
7.40% FG Senior Notes
Business Acquisition [Line Items]
Debt instrument, interest rate, stated percentage									7.40%
7.40% FG Senior Notes \| Senior Notes
Business Acquisition [Line Items]
Aggregate principal amount									$ 500
Revolving Credit Facility \| F&G Credit Agreement \| Line of Credit
Business Acquisition [Line Items]
Line of credit facility								$ 665			$ 550
Subsequent Event \| 6.875% Series A Mandatory Convertible Preferred Stock \| F&G
Business Acquisition [Line Items]
Preferred stock investment	$ 250	$ 250
Preferred stock investment, shares issued in transaction (in shares) \| shares		5,000,000
Preferred stock, dividend rate, percentage		6.875%
Preferred stock, par or stated value per share (in dollars per share) \| $ / shares		$ 0.001
Preferred stock, liquidation preference (in usd per share) \| $ / shares		$ 50.00
Subsequent Event \| 6.875% Series A Mandatory Convertible Preferred Stock \| Maximum \| F&G
Business Acquisition [Line Items]
Preferred stock, convertible, conversion ratio		1.1111
Subsequent Event \| 6.875% Series A Mandatory Convertible Preferred Stock \| Minimum \| F&G
Business Acquisition [Line Items]
Preferred stock, convertible, conversion ratio		0.9456
Subsequent Event \| Roar Joint Venture, LLC
Business Acquisition [Line Items]
Percentage of outstanding equity acquired			70.00%
Cash paid for acquisition			$ 269
Contingent consideration - acquisitions			$ 90
Business Combination, Contingent Consideration Liability Payment Period			3 years
Subsequent Event \| Revolving Credit Facility \| Revolving Credit Facility \| Line of Credit
Business Acquisition [Line Items]
Line of credit facility						$ 800
Subsequent Event \| Revolving Credit Facility \| F&G Credit Agreement \| Line of Credit
Business Acquisition [Line Items]
Line of credit facility						$ 750

Summary of Reserve for Title Claim Losses (Tables)

12 Months Ended

Dec. 31, 2023

Insurance [Abstract]

Summary of the Reserve for Title Claim Losses

A summary of the reserve for title claim losses follows:


	Year Ended December 31,
	2023			2022			2021
	(Dollars in millions)
Beginning balance	$	1,810		$	1,883		$	1,623

Change in insurance recoverable	15			(128)			94
Claim loss provision related to:
Current year	207			308			385
Prior years	—			—			—
Total title claim loss provision	207			308			385
Claims paid, net of recoupments related to:
Current year	(22)			(21)			(14)
Prior years	(240)			(232)			(205)
Total title claims paid, net of recoupments	(262)			(253)			(219)
Ending balance of claim loss reserve for title insurance	$	1,770		$	1,810		$	1,883
Provision for title insurance claim losses as a percentage of title insurance premiums	4.5		%	4.5		%	4.5		%

Summary of Reserve for Title Claim Losses - Summary (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Change in insurance recoverable	$ (78)	$ (276)	$ (59)
Title
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Beginning balance	1,810	1,883	1,623
Change in insurance recoverable	15	(128)	94
Claim loss provision related to:
Current year	207	308	385
Prior years	0	0	0
Total title claim loss provision	207	308	385
Claims paid, net of recoupments related to:
Current year	(22)	(21)	(14)
Prior years	(240)	(232)	(205)
Total title claims paid, net of recoupments	(262)	(253)	(219)
Ending balance of claim loss reserve for title insurance	$ 1,770	$ 1,810	$ 1,883
Provision for title insurance claim losses as a percentage of title insurance premiums	4.50%	4.50%	4.50%

Investments - Amortized Cost and Fair Value of Fixed Maturity Available-for-Sale Securities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Due in one year or less, Amortized Cost	$ 703	$ 536
Due after one year through five years, Amortized Cost	4,320	3,288
Due after five years through ten years, Amortized Cost	3,195	2,171
Due after ten years, Amortized Cost	15,453	14,503
Subtotal, Amortized Cost	23,671	20,498
Other securities which provide for periodic payments, Amortized Cost	21,935	17,210
Due in one year or less, Fair Value	687	527
Due after one year through five years, Fair Value	4,209	3,089
Due after five years through ten years, Fair Value	3,048	1,939
Due after ten years, Fair Value	13,183	11,457
Subtotal, Fair Value	21,127	17,012
Other securities which provide for periodic payments, Fair Value	21,246	16,083
Amortized Cost	45,606	37,708
Fair Value	42,373	33,095
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Other securities which provide for periodic payments, Amortized Cost	14,631	12,209
Other securities which provide for periodic payments, Fair Value	14,342	11,467
Amortized Cost	14,631	12,209
Fair Value	14,342	11,467
Commercial mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Other securities which provide for periodic payments, Amortized Cost	4,797	3,337
Other securities which provide for periodic payments, Fair Value	4,475	3,063
Amortized Cost	4,797	3,337
Fair Value	4,475	3,063
Structured hybrids
Debt Securities, Available-for-sale [Line Items]
Other securities which provide for periodic payments, Amortized Cost		26
Other securities which provide for periodic payments, Fair Value		26
Residential mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Other securities which provide for periodic payments, Amortized Cost	2,507	1,638
Other securities which provide for periodic payments, Fair Value	$ 2,429	$ 1,527

Income Taxes

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Income Taxes

Income tax expense (benefit) on continuing operations consists of the following:


	Year Ended December 31,
	2023		2022		2021
	(In millions)
Current	$	241	$	331	$	656
Deferred	(49)		108		157
	$	192	$	439	$	813

Total income tax expense was allocated as follows:


	Year Ended December 31,
	2023		2022		2021
	(In millions)
Net earnings from continuing operations	$	192	$	439	$	813

Other comprehensive earnings (loss):
Unrealized gain (loss) on investments and other financial instruments	275		(1,198)		(160)
Unrealized gain (loss) on foreign currency translation and cash flow hedging	2		(4)		—
Changes in current discount rate - future policy benefits	(50)		203		33
Changes in instrument - specific credit risk - market risk benefits	(9)		18		3
F&G 15% Distribution	(35)		9		—
Minimum pension liability adjustment	—		2		(2)
Total income tax expense (benefit) allocated to other comprehensive earnings	183		(970)		(126)

Total income tax expense (benefit)	$	375	$	(531)	$	687

A reconciliation of the federal statutory rate to our effective tax rate is as follows:


	Year Ended December 31,
	2023		2022		2021
Federal statutory rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal benefit	2.4		2.0		1.4



Stock compensation	(0.2)		(0.1)		(0.2)
Tax credits	(1.8)		(0.7)		(0.2)



Valuation allowance for deferred tax assets	5.0		5.4		(0.4)





Benefit on Capital Loss Carryback	—		(1.3)		—

Officers Compensation	1.2		0.4		0.2
Non-deductible expenses and other, net	0.1		(1.3)		1.0
Effective tax rate	27.7	%	25.4	%	22.8	%

The significant components of deferred tax assets and liabilities consist of the following:


	December 31,
	2023		2022
	(In millions)
Deferred Tax Assets:
Employee benefit accruals	$	116	$	104

Net operating loss carryforwards	84		38

Derivatives	—		67



Tax credits	119		74

Investment securities	686		952
Capital loss carryover	38		8

Life insurance and claim related adjustments	547		433
Funds held under reinsurance agreements	500		37
Market Risk Benefits	61		32
Bermuda corporate income tax net operating loss carryforward	24		—

Other	26		36
Total gross deferred tax asset	2,201		1,781
Less: valuation allowance	197		151
Total deferred tax asset	$	2,004	$	1,630
Deferred Tax Liabilities:
Title plant	$	(53)	$	(53)
Amortization of goodwill and intangible assets	(98)		(117)

Other	(8)		(2)

Depreciation	(29)		(32)
Partnerships	(152)		(122)
Value of business acquired	(304)		(339)


Deferred acquisition costs	(361)		(209)
Transition reserve on new reserve method	(17)		(25)
Funds held under reinsurance agreements	(621)		(187)
Title Insurance reserve discounting	(18)		(31)


Total deferred tax liability	$	(1,661)	$	(1,117)
Net deferred tax asset	$	343	$	513

Our net deferred tax asset (liability) was $343 million and $513 million as of December 31, 2023 and 2022, respectively. The significant changes in the deferred taxes are as follows: the deferred tax asset for investment securities decreased by $266 million primarily due to unrealized losses recorded for investment securities, of which $11 million was related to a reduction in unrealized losses in our Title segment and $255 million was primarily due to unrealized capital gains on fixed maturities in our F&G segment's life insurance business. The deferred tax liability related to deferred acquisition costs increased by $152 million, which is consistent with the growth in sales in our F&G segment. The reinsurance receivable deferred tax asset increased by $463 million, and the reinsurance receivable deferred tax liability increased by $434 million both due to Modco reinsurance treatment of GAAP and tax reserves. The deferred tax asset relating to life insurance receivables increased by $114 million primarily due to GAAP reserves for the year increasing by more than the tax reserves for F&G.

As of December 31, 2023, we have net operating losses ("NOLs") on a pretax basis of $401 million, of which $46 million relates to our Title segment and $355 million relates to our F&G segment's life insurance business, which are available to carryforward and offset future federal taxable income. The Title segment NOLs are U.S. federal NOLs arising from acquisitions made since 2012, including Buyers Protection Group, Inc., Digital Insurance Holdings, Inc. and THL Corporations (ServiceLink). Most of the NOLs are subject to an annual Internal Revenue Code Section 382 limitation. These losses will begin to expire in year 2034 and we fully anticipate utilizing the Title segment losses prior to expiration with the exception of $25 million of gross net operating losses that are offset by a $25 million valuation allowance in the Title segment. The F&G NOLs are primarily indefinite life U.S. federal NOLs arising from the life insurance business of which $68 million are subject to an annual Internal Revenue Code Section 382 limitation.

As of December 31, 2023 and 2022, we had $119 million and $74 million of tax credits, respectively, some of which have expiration dates and will begin to expire between 2029 and 2043. The credits primarily consist of general business credits and corporate alternative minimum tax credits, including $79 million associated with our F&G segment's life insurance business. The F&G segment's corporate alternative minimum tax credit has an indefinite life. We anticipate the remainder of the credits will be utilized prior to expiration with the exception of $28 million relating to general business credits in our Title segment which have a corresponding $28 million valuation allowance recorded.

As of December 31, 2023, a full valuation allowance on the net deferred tax asset related to the Bermuda corporate income tax net operating loss carryforward of $24 million was recorded. This net change in the valuation allowance of $24 million was due to the 2023 enactment of the Bermuda Corporate Income Tax.

As of December 31, 2023, a valuation allowance of $139 million on the net deferred tax asset for capital losses was recorded, of which $78 million related to our Title segment and $61 million related to our F&G segment. The net change in the capital loss valuation allowance was a $20 million increase for the year ended December 31, 2023. The increase to the valuation allowance was primarily due to a $31 million increase in the valuation allowance on unrealized capital losses in the F&G segment's life insurance business, offset by a decrease of $11 million in the valuation allowance on unrealized capital losses in the Title segment's bond portfolio.

As of December 31, 2023 and 2022, the balance of unrecognized tax benefits that would, if recognized, favorably affect our effective tax rate was $0 million and $0 million, respectively. Interest and penalties accrued on income tax uncertainties are recorded as a component of income tax expense and were $0 million and $0 million, respectively, as of December 31, 2023, and 2022.

A reconciliation of the beginning and ending unrecognized tax benefits is as follows (in millions):


	Year ended December 31,
	2023		2022


Beginning balance	$	—	$	60

Additions based on positions taken in current year	—		1
Reductions related to IRS accepting refund, statute of limitation lapses and audit payments	—		(61)

Ending balance	$	—	$	—

F&G's life insurance subsidiaries, as well as certain F&G non-life subsidiaries file separate tax returns from the FNF consolidated group. Prepaid expenses and other assets in the accompanying Consolidated Balance Sheets as of December 31, 2023, includes: $26 million of tax receivables related to the FNF consolidated group as well as $28 million of tax receivables and $372 million of deferred tax assets related to F&G subsidiaries who file separate tax returns. As of December 31, 2022, prepaid expenses and other assets included $26 million of tax receivables related to the FNF consolidated group as well as $28 million of tax receivables and $584 million of deferred tax assets related to the F&G subsidiaries.

We continue to be a participant in the Internal Revenue Service (“IRS”) Compliance Assurance Process that is a real-time audit. Our 2022 U.S. federal income tax return is currently under audit by the IRS. The 2023 U.S. federal income tax return remains open to examination by the IRS. We file income tax returns in various foreign and US state jurisdictions. Our state income tax returns for the 2019 through 2023 tax years remain subject to examination by state jurisdictions. The F&G life insurance group files a separate consolidated return with the IRS. The F&G federal income tax returns for 2018 through the current period remain open to examination by the IRS.

The Company considers its non-U.S. earnings to be indefinitely reinvested outside of the U.S. to the extent these earnings are not subject to the U.S. income tax under an anti-deferral tax regime. Given our intent to reinvest these earnings for an indefinite period of time, the Company has not accrued a deferred tax liability on these earnings. A determination of an unrecognized deferred tax liability related to these earnings is not practicable.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Revenue Recognition - Narrative (Details)	12 Months Ended
Revenue Recognition - Narrative (Details)	Dec. 31, 2023
Revenue Recognition and Deferred Revenue [Abstract]
Home warranty contract, period	1 year

Derivative Financial Instruments - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) contract	Dec. 31, 2022 USD ($) contract
All Counterparties Except Merrill Lynch
Derivative [Line Items]
Counterparties, collateral required threshold	0.00%
Embedded derivatives
Derivative [Line Items]
Term of contract, term one	1 year
Term of contract, term two	2 years
Term of contract, term three	3 years
Term of contract, term five	5 years
Call options \| Not Designated as Hedging Instrument
Derivative [Line Items]
Collateral posted	$ 775	$ 219
Maximum amount of loss due to credit risk	39	33
Call options \| Derivatives for Trading and Investment \| Not Designated as Hedging Instrument
Derivative [Line Items]
Collateral posted	775	219
Maximum amount of loss due to credit risk	39	33
Call options \| Cash and Cash Equivalents \| Not Designated as Hedging Instrument
Derivative [Line Items]
Collateral posted	$ 588	$ 178
Futures contracts
Derivative [Line Items]
Number of instruments held \| contract	439,000,000	409,000,000
Collateral held	$ 4	$ 3

Schedule IV - F&G Reinsurance

12 Months Ended

Dec. 31, 2023

SEC Schedule, 12-17, Insurance Companies, Reinsurance [Abstract]

Schedule IV - F&G Reinsurance

Schedule IV

FIDELITY NATIONAL FINANCIAL, INC.

F&G Reinsurance

(In millions)


For the year ended December 31, 2023	Gross Amount		Ceded to other companies		Assumed from other companies		Net Amount		Percentage of amount assumed to net
Life insurance in force	$	8,448	$	(1,436)	$	—	$	7,012	—	%

Premiums and other considerations:
Traditional life insurance premiums	148		(105)		—		43		—	%
Life-contingent PRT premiums	1,964		—		—		1,964		—	%
Annuity product charges and other fees	455		(49)		—		406		—	%
Total premiums and other considerations	$	2,567	$	(154)	$	—	$	2,413	—	%

For the year ended December 31, 2022	Gross Amount		Ceded to other companies		Assumed from other companies		Net Amount		Percentage of amount assumed to net
Life insurance in force	$	6,296	$	(1,524)	$	—	$	4,772	—	%

Premiums and other considerations:
Traditional life insurance premiums	160		(128)		—		32		—	%
Life-contingent PRT premiums	1,362		—		—		1,362		—	%
Annuity product charges and other fees	360		(50)		—		310		—	%
Total premiums and other considerations	$	1,882	$	(178)	$	—	$	1,704	—	%

For the year ended December 31, 2021	Gross Amount		Ceded to other companies		Assumed from other companies		Net Amount		Percentage of amount assumed to net
Life insurance in force	$	4,895	$	(1,642)	$	—	$	3,253	—	%

Premiums and other considerations:
Traditional life insurance premiums	168		(137)		—		31		—	%
Life-contingent PRT premiums	1,146		—		—		1,146		—	%
Annuity product charges and other fees	281		(51)		—		230		—	%
Total premiums and other considerations	$	1,595	$	(188)	$	—	$	1,407	—	%

Schedule II - Condensed Financial Information - Notes to Financial Statements (Parent Company) (Details) $ / shares in Units, $ in Millions			12 Months Ended
	Jan. 16, 2024 USD ($)	Jan. 12, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) $ / shares	Dec. 31, 2022 USD ($) $ / shares	Dec. 31, 2021 USD ($)	Feb. 16, 2024 USD ($)	Sep. 17, 2021	May 16, 2019	Aug. 13, 2018
Debt Instrument [Line Items]
Notes payable			$ 3,887	$ 3,238
Interest			157	125	$ 112
Income taxes			$ 216	$ 387	653
Preferred stock, par or stated value per share (in dollars per share) \| $ / shares			$ 0.0001	$ 0.0001
6.875% Series A Mandatory Convertible Preferred Stock \| Subsequent Event \| F&G
Debt Instrument [Line Items]
Preferred stock investment	$ 250	$ 250
Preferred stock investment, shares issued in transaction (in shares) \| shares		5,000,000
Preferred stock, dividend rate, percentage		6.875%
Preferred stock, par or stated value per share (in dollars per share) \| $ / shares		$ 0.001
Preferred stock, liquidation preference (in usd per share) \| $ / shares		$ 50.00
6.875% Series A Mandatory Convertible Preferred Stock \| Subsequent Event \| F&G \| Maximum
Debt Instrument [Line Items]
Preferred stock, convertible, conversion ratio		1.1111
6.875% Series A Mandatory Convertible Preferred Stock \| Subsequent Event \| F&G \| Minimum
Debt Instrument [Line Items]
Preferred stock, convertible, conversion ratio		0.9456
4.50% Notes, net of discount
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage								4.50%	4.50%
3.20% Notes, net of discount
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage							3.20%
Revolving Credit Facility \| Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Notes payable			$ 2	$ 3
Revolving Credit Facility \| Revolving Credit Facility \| Line of Credit \| Subsequent Event
Debt Instrument [Line Items]
Line of credit facility						$ 800
Parent Company
Debt Instrument [Line Items]
Notes payable			2,126	2,123
Interest			73	95	81
Income taxes			213	459	609
Cash dividends from subsidiaries and affiliates			$ 400	$ 800	$ 600
Preferred stock, par or stated value per share (in dollars per share) \| $ / shares			$ 0.0001	$ 0.0001
Parent Company \| 4.50% Notes, net of discount
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage			4.50%
Notes payable			$ 446	$ 445
Parent Company \| 3.40% Notes, net of discount
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage			3.40%
Notes payable			$ 644	644
Parent Company \| 2.45% Notes, net of discount
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage			2.45%
Notes payable			$ 594	594
Parent Company \| 3.20% Notes, net of discount
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage			3.20%
Notes payable			$ 444	443
Parent Company \| Revolving Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Notes payable			$ (2)	$ (3)

Other Intangible Assets - Definite and Indefinite Lived Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Total	$ 620	$ 585
Customer relationships and contracts
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, cost	948	916
Accumulated amortization	(774)	(714)
Finite-Lived Intangible Assets, Net, Total	$ 174	$ 202
Weighted average useful life (years)	10 years	10 years
Computer software
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, cost	$ 651	$ 537
Accumulated amortization	(385)	(341)
Finite-Lived Intangible Assets, Net, Total	$ 266	$ 196
Computer software \| Minimum
Finite-Lived Intangible Assets [Line Items]
Weighted average useful life (years)	2 years	2 years
Computer software \| Maximum
Finite-Lived Intangible Assets [Line Items]
Weighted average useful life (years)	10 years	10 years
Value of distribution asset
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, cost	$ 140	$ 140
Accumulated amortization	(54)	(40)
Finite-Lived Intangible Assets, Net, Total	$ 86	$ 100
Weighted average useful life (years)	15 years	15 years
Trademarks, tradenames, and other
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, cost	$ 146	$ 129
Accumulated amortization	(52)	(42)
Finite-Lived Intangible Assets, Net, Total	$ 94	$ 87

Investments (Tables)

12 Months Ended

Dec. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Consolidated Investments


	December 31, 2023
	Amortized Cost		Allowance for Expected Credit Losses		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available-for-sale securities	(In millions)
Asset-backed securities	$	14,631	$	(11)	$	191	$	(469)	$	14,342
Commercial mortgage-backed securities	4,797		(22)		23		(323)		4,475
Corporates	20,133		(6)		186		(2,417)		17,896
Hybrids	668		—		3		(53)		618
Municipals	1,826		—		14		(229)		1,611
Residential mortgage-backed securities	2,507		(3)		29		(104)		2,429
U.S. Government	679		—		8		(9)		678
Foreign Governments	365		—		3		(44)		324
Total available-for-sale securities	$	45,606	$	(42)	$	457	$	(3,648)	$	42,373


	December 31, 2022
	Amortized Cost		Allowance for Expected Credit Losses		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available-for-sale securities	(In millions)
Asset-backed securities	$	12,209	$	(8)	$	36	$	(770)	$	11,467
Commercial mortgage-backed/asset-backed securities	3,337		(1)		11		(284)		3,063
Corporates	17,396		(22)		32		(3,069)		14,337
Hybrids	806		—		9		(84)		731
Municipals	1,749		—		4		(293)		1,460
Residential mortgage-backed securities	1,638		(8)		6		(109)		1,527
U.S. Government	287		—		—		(16)		271
Foreign Governments	286		—		—		(47)		239
Total available-for-sale securities	$	37,708	$	(39)	$	98	$	(4,672)	$	33,095

Investments Classified by Contractual Maturity Date


	December 31, 2023				December 31, 2022
	(in millions)				(in millions)
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Corporates, Non-structured Hybrids, Municipal and Government securities:
Due in one year or less	$	703	$	687	$	536	$	527
Due after one year through five years	4,320		4,209		3,288		3,089
Due after five years through ten years	3,195		3,048		2,171		1,939
Due after ten years	15,453		13,183		14,503		11,457
	23,671		21,127		20,498		17,012
Other securities, which provide for periodic payments:
Asset-backed securities	14,631		14,342		12,209		11,467
Commercial mortgage-backed securities	4,797		4,475		3,337		3,063
Structured hybrids	—		—		26		26
Residential mortgage-backed securities	2,507		2,429		1,638		1,527
	21,935		21,246		17,210		16,083
Total fixed maturity available-for-sale securities	$	45,606	$	42,373	$	37,708	$	33,095

Fair Value and Gross Unrealized Losses of Available-for-sale Securities


	December 31, 2023
	Less than 12 months				12 months or longer				Total
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
Available-for-sale securities	(Dollars in millions)
Asset-backed securities	$	1,707	$	(56)	$	5,835	$	(404)	$	7,542	$	(460)
Commercial mortgage-backed securities	819		(53)		1,922		(235)		2,741		(288)
Corporates	2,387		(134)		10,739		(2,283)		13,126		(2,417)
Hybrids	60		(2)		483		(51)		543		(53)
Municipals	399		(49)		920		(179)		1,319		(228)
Residential mortgage-backed securities	336		(5)		662		(89)		998		(94)
U.S. Government	84		—		159		(9)		243		(9)
Foreign Government	49		(3)		188		(41)		237		(44)
Total available-for-sale securities	$	5,841	$	(302)	$	20,908	$	(3,291)	$	26,749	$	(3,593)
Total number of available-for-sale securities in an unrealized loss position less than twelve months											1,035
Total number of available-for-sale securities in an unrealized loss position twelve months or longer											2,846
Total number of available-for-sale securities in an unrealized loss position											3,881


	December 31, 2022
	Less than 12 months				12 months or longer				Total
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
Available-for-sale securities
Asset-backed securities	$	7,001	$	(410)	$	3,727	$	(360)	$	10,728	$	(770)
Commercial mortgage-backed securities	2,079		(169)		475		(116)		2,554		(285)
Corporates	9,913		(1,735)		3,523		(1,330)		13,436		(3,065)
Hybrids	628		(83)		3		(1)		631		(84)
Municipals	998		(180)		352		(113)		1,350		(293)
Residential mortgage-backed securities	992		(51)		184		(22)		1,176		(73)
U.S. Government	130		(7)		140		(8)		270		(15)
Foreign Government	119		(32)		59		(14)		178		(46)
Total available-for-sale securities	$	21,860	$	(2,667)	$	8,463	$	(1,964)	$	30,323	$	(4,631)
Total number of available-for-sale securities in an unrealized loss position less than twelve months											3,114
Total number of available-for-sale securities in an unrealized loss position twelve months or longer											1,296
Total number of available-for-sale securities in an unrealized loss position											4,410

Schedule of Distribution of CMLs, Gross Valuation by Property Type and Geographic Region

The distribution of CMLs, gross of valuation allowances, by property type and geographic region is reflected in the following tables:


	December 31, 2023				December 31, 2022
	Amortized Cost		% of Total		Amortized Cost		% of Total
Property Type:	(Dollars in millions)


Hotel	$	18	1	%	$	18	1	%
Industrial	616		24	%	520		22	%
Mixed Use	11		—	%	12		1	%
Multifamily	1,012		40	%	1,013		42	%
Office	316		13	%	330		14	%
Retail	102		4	%	105		4	%
Student Housing	83		3	%	83		3	%
Other	392		15	%	335		13	%
Total commercial mortgage loans, gross of valuation allowance	$	2,550	100	%	$	2,416	100	%
Allowance for expected credit loss	(12)				(10)
Total commercial mortgage loans, net of valuation allowance	$	2,538			$	2,406

U.S. Region:
East North Central	$	151	6	%	$	151	6	%
East South Central	75		3	%	76		3	%
Middle Atlantic	354		14	%	326		13	%
Mountain	352		14	%	355		15	%
New England	168		6	%	158		7	%
Pacific	766		30	%	708		28	%
South Atlantic	563		22	%	521		22	%
West North Central	4		—	%	4		1	%
West South Central	117		5	%	117		5	%

Total commercial mortgage loans, gross of valuation allowance	$	2,550	100	%	$	2,416	100	%
Allowance for expected credit loss	(12)				(10)
Total commercial mortgage loans, net of valuation allowance	$	2,538			$	2,406

Schedule of Investment in Mortgage Loans by Loan to Value and Debt Service Coverage Ratios

The following tables presents the recorded investment in CMLs by LTV and DSC ratio categories and estimated fair value by the indicated loan-to-value ratios, gross of valuation allowances:


	Debt-Service Coverage Ratios						Total Amount	% of Total		Estimated Fair Value		% of Total
	>1.25		1.00 - 1.25		<1.00
December 31, 2023	(Dollars in millions)
LTV Ratios:
Less than 50.00%	$	519	$	4	$	10		$	533	21	%	$	510	23	%
50.00% to 59.99%	764		—		—			764		30	%	679		30	%
60.00% to 74.99%	1,160		56		—			1,216		48	%	1,028		46	%
75.00% to 84.99%	—		6		9			15		1	%	14		1	%
Commercial mortgage loans (a)	$	2,443	$	66	$	19		$	2,528	100	%	$	2,231	100	%

December 31, 2022
LTV Ratios:
Less than 50.00%	$	511	$	4	$	11		$	526	22	%	$	490	24	%
50.00% to 59.99%	706		—		—			706		29	%	615		30	%
60.00% to 74.99%	1,154		3		—			1,157		48	%	955		45	%
75.00% to 84.99%	—		—		18			18		1	%	14		1	%
Commercial mortgage loans	$	2,371	$	7	$	29		$	2,407	100	%	$	2,074	100	%

(a) Excludes loans under development with an amortized cost and estimated fair value of $22 million and $9 million at December 31, 2023 and 2022, respectively.


	December 31, 2023

	Amortized Cost by Origination Year
	2023		2022		2021		2020		2019		Prior		Total
LTV	(In millions)
Less than 50.00%	$	85	$	17	$	77	$	232	$	—	$	122	$	533
50.00% to 59.99%	53		149		267		158		—		137		764
60.00% to 74.99%	69		113		912		122		—		—		1,216
75.00% to 84.99%	6		9		—		—		—		—		15

Total commercial mortgage loans (a)	$	213	$	288	$	1,256	$	512	$	—	$	259	2,528
DSCR
Greater than 1.25x	$	154	$	276	$	1,256	$	512	$	—	$	245	$	2,443
1.00x - 1.25x	59		3		—		—		—		4		66
Less than 1.00x	—		9		—		—		—		10		19
Total commercial mortgage loans (a)	$	213	$	288	$	1,256	$	512	$	—	$	259	$	2,528


	December 31, 2022

	Amortized Cost by Origination Year
	2022		2021		2020		2019		2018		Prior		Total
LTV	(In millions)
Less than 50.00%	$	70	$	120	$	207	$	—	$	—	$	129	$	526
50.00% to 59.99%	149		268		158		—		—		131		706
60.00% to 74.99%	113		912		123		—		—		9		1,157
75.00% to 84.99%	9		—		—		—		—		9		18
Total commercial mortgage loans (a)	$	341	$	1,300	$	488	$	—	$	—	$	278	$	2,407
DSCR
Greater than 1.25x	$	329	$	1,300	$	488	$	—	$	—	$	254	$	2,371
1.00x - 1.25x	3		—		—		—		—		4		7
Less than 1.00x	9		—		—		—		—		20		29
Total commercial mortgage loans (a)	$	341	$	1,300	$	488	$	—	$	—	$	278	$	2,407

Schedule of Residential Mortgage Loans by State

The distribution of RMLs by state with highest-to-lowest concentration are reflected in the following tables, gross of valuation allowances:


	December 31, 2023
U.S. State:	Amortized Cost (In millions)		% of Total
Florida	$	163	6	%
New York	129		5	%
Texas	129		5	%




All Other States (1)	2,431		85	%
Total residential mortgage loans, gross of valuation allowance	$	2,852	100	%
Allowance for expected credit loss	(54)
Total residential mortgage loans, net of valuation allowance	$	2,798

(1) The individual concentration of each state is equal to or less than to 5%.


	December 31, 2022
U.S. State:	Amortized Cost (In millions)		% of Total
Florida	$	324	15	%
Texas	215		10	%
New Jersey	172		8	%
Pennsylvania	153		7	%
California	139		6	%
New York	138		6	%
Georgia	125		6	%
All other states (a)	914		42	%
Total residential mortgage loans, gross of valuation allowance	$	2,180	100	%
Allowance for expected credit loss	(32)
Total residential mortgage loans, net of valuation allowance	$	2,148

(1) The individual concentration of each state is less than 5%.

Schedule of Loans with Credit Quality Indicators, Performing or Nonperforming

The credit quality of RMLs was as follows:


	December 31, 2023				December 31, 2022
Performance indicators:	Amortized Cost		% of Total		Amortized Cost		% of Total
	(Dollars in millions)
Performing	$	2,795	98	%	$	2,118	97	%
Non-performing	57		2	%	62		3	%
Total residential mortgage loans, gross of valuation allowance	$	2,852	100	%	$	2,180	100	%
Allowance for expected loan loss	(54)		—		(32)		—
Total residential mortgage loans, net of valuation allowance	$	2,798	100	%	$	2,148	100	%

Loans Segregated by Risk Rating Exposure

CMLs segregated by aging of loans and charge offs (by year of origination) were as follows for the year ended December 31, 2023:


	December 31, 2023

	Amortized Cost by Origination Year
	2023		2022		2021		2020		2019		Prior		Total
	(In millions)
Current (less than 30 days past due)	$	213	$	288	$	1,256	$	512	$	—	$	259	$	2,528
30-89 days past due	—		—		—		—		—		—		—
90 days or more past due	—		—		—		—		—		—		—
Total commercial mortgage loans (a)	$	213	$	288	$	1256	$	512	$	—	$	259	$	2,528

Charge offs	$	—	$	—	$	—	$	—	$	—	$	3	$	3

(a) Excludes loans under development with an amortized cost and estimated fair value of $22 million at December 31, 2023.

CMLs segregated by aging of loans (by year of origination) were as follows for the year ended December 31, 2022:


	December 31, 2022

	Amortized Cost by Origination Year
	2022		2021		2020		2019		2018		Prior		Total
	(In millions)
Current (less than 30 days past due)	$	341	$	1,300	$	488	$	—	$	—	$	269	$	2,398
30-89 days past due	—		—		—		—		—		—		—
90 days or more past due	—		—		—		—		—		9		9
Total commercial mortgage loans(a)	$	341	$	1,300	$	488	$	—	$	—	$	278	$	2,407

(a) Excludes loans under development with an amortized cost and estimated fair value of $9 million at December 31, 2022.

. RMLs segregated by aging of the loans (by year of origination) as of December 31, 2023 and 2022 were as follows, gross of valuation allowances (in millions):


	December 31, 2023

	Amortized Cost by Origination Year
	2023		2022		2021		2020		2019		Prior		Total
Residential mortgages	(In millions)
Current (less than 30 days past due)	$	373	$	985	$	854	$	192	$	183	$	192	$	2,779
30-89 days past due	—		4		7		3		—		2		16
90 days or more past due	—		6		16		13		21		1		57
Total residential mortgages	$	373	$	995	$	877	$	208	$	204	$	195	$	2,852


	December 31, 2022

	Amortized Cost by Origination Year
	2022		2021		2020		2019		2018		Prior		Total
Residential mortgages	(In millions)
Current (less than 30 days past due)	$	766	$	884	$	214	$	185	$	23	$	33	$	2,105
30-89 days past due	2		7		—		4		—		—		13
90 days or more past due	3		9		15		34		1		—		62
Total residential mortgages	$	771	$	900	$	229	$	223	$	24	$	33	$	2,180

Schedule of Nonaccrual Loans by Amortized Cost

The amortized cost of non-accrual loans as of December 31, 2023 and 2022 were as follows:


Amortized cost of loans on non-accrual	December 31, 2023		December 31, 2022
	(In millions)
Residential mortgage	$	57	$	62
Commercial mortgage	—		9
Total non-accrual mortgages	$	57	$	71

Changes in Allowance for Expected Credit Losses on Loans

The allowances for our mortgage loan portfolio is summarized as follows (in millions):


	Year ended December 31, 2023			Year ended December 31, 2022

		Residential Mortgage		Commercial Mortgage		Total		Residential Mortgage		Commercial Mortgage		Total
Beginning Balance		$	32	$	10	$	42	$	25	$	6	$	31
Provision for loan losses		22		5		27		7		4		11




Ending Balance		$	54	$	12	$	66	$	32	$	10	$	42



	Year ended December 31, 2021

		Residential Mortgage		Commercial Mortgage		Total
Beginning Balance		37		2		39
Provision for loan losses		(12)		4		(8)




Ending Balance		$	25	$	6	$	31

Schedule of Sources of Net Investment Income Reported

The major sources of Interest and investment income reported on the accompanying Consolidated Statements of Earnings were as follows:


	Year ended
		December 31, 2023		December 31, 2022		December 31, 2021
		(In millions)
Fixed maturity securities, available-for-sale		$	1,911	$	1,489	$	1,267
Equity securities		33		31		23
Preferred securities		52		67		63
Mortgage loans		229		186		131

Invested cash and short-term investments		151		61		7

Limited partnerships		231		110		589
Tax deferred property exchange income		166		103		16
Other investments		91		41		32
Gross investment income		2,864		2,088		2,128
Investment expense		(257)		(197)		(167)
Interest and investment income		$	2,607	$	1,891	$	1,961

Recognized Gains and Losses, net

Details underlying Recognized gains and losses, net reported on the accompanying Consolidated Statements of Earnings were as follows:


	Year ended
		December 31, 2023		December 31, 2022		December 31, 2021
		(In millions)
Net realized (losses) gains on fixed maturity available-for-sale securities		$	(155)	$	(253)	$	111
Net realized/unrealized (losses) gains on equity securities (1)		23		(386)		(434)
Net realized/unrealized (losses) gains on preferred securities (2)		(1)		(230)		(14)
Realized (losses) gains on other invested assets		(25)		(68)		8
Change in allowance for expected credit losses		(36)		(41)		8
Derivatives and embedded derivatives:
Realized (losses) gains on certain derivative instruments		(211)		(164)		456
Unrealized (losses) gains on certain derivative instruments		358		(693)		159
Change in fair value of reinsurance related embedded derivatives		(128)		352		34
Change in fair value of other derivatives and embedded derivatives		11		(10)		6
Realized (losses) gains on derivatives and embedded derivatives		30		(515)		655
Recognized gains and losses, net		$	(164)	$	(1,493)	$	334

(1) Includes net valuation (losses) gains of $47 million, $(387) million and $(436) million for the years ended December 31, 2023, 2022, and 2021, respectively.

(2) Includes net valuation losses of $80 million, $198 million, and $14 million for the years ended December 31, 2023, 2022 and 2021, respectively.

Proceeds from Sale of Fixed Maturity Available-for-sale Securities

The proceeds from the sale of fixed-maturity securities and the gross gains and losses associated with those transactions were as follows (in millions):


	Year ended
		December 31, 2023		December 31, 2022		December 31, 2021
Proceeds		$	2,698	$	3,264	$	4,749
Gross gains		18		14		158
Gross losses		(145)		(252)		(49)

Schedule of Carrying Value and Maximum Loss Exposure, Unconsolidated VIEs

The following table summarizes the carrying value and the maximum loss exposure of our unconsolidated VIEs:


	December 31, 2023				December 31, 2022
	Carrying Value		Maximum Loss Exposure		Carrying Value		Maximum Loss Exposure
	(In millions)
Investments in unconsolidated affiliates	$	3,071	$	4,806	$	2,427	$	4,030
Fixed maturity securities	20,837		22,346		15,680		17,404
Total unconsolidated VIE investments	$	23,908	$	27,152	$	18,107	$	21,434

Schedule of Investment Concentrations

Our underlying investment concentrations that exceed 10% of shareholders equity are as follows:


	December 31, 2023		December 31, 2022
	(In millions)
Blackstone Wave Asset Holdco (1)	$	725	$	741

__________________

Title insurance premiums as a percentage of the total title insurance premiums written from those five states are detailed as follows:


	2023		2022		2021
Texas	14.3	%	15.0	%	13.0	%
California	13.0	%	12.0	%	14.6	%
Florida	10.7	%	10.6	%	9.3	%
Illinois	6.0	%	5.3	%	5.1	%
Pennsylvania	4.9	%	5.2	%	5.1	%

Employee Benefit Plans - Omnibus Incentive Plan (Details) - shares						12 Months Ended
	Jun. 15, 2016	May 22, 2013	May 25, 2011	May 29, 2008	Oct. 23, 2006	Dec. 31, 2023	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2020	Dec. 31, 2005
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock outstanding (in shares)						1,875,395
The Omnibus Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for grant (in shares)										8,000,000
Number of additional shares authorized (in shares)	10,000,000	6,000,000	6,000,000	11,000,000	16,000,000
Options outstanding (in shares)						0	996,113	0	2,321,413
The Omnibus Plan \| Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period						3 years
Expiration period						7 years

Income Taxes - Tax Expense (Benefit) on Continuing Operations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Current	$ 241	$ 331	$ 656
Deferred	(49)	108	157
Income tax expense on continuing operations	$ 192	$ 439	$ 813

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Investments - Schedule of Investment Concentrations (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Blackstone Wave Asset Holdco \| Stockholders' Equity \| Investment Risk Concentration
Schedule of Investments [Line Items]
Investment owned, at fair value	$ 725	$ 741

- Definition

Fair value of investment in security owned.

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- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Recent Accounting Pronouncements - Effect of Transition Adjustments on Equity due to ASU 2018-12 (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Contractholder funds	$ 48,798	$ 40,843
MRB	315	165	$ 428
VOBA	1,446	1,615	1,743
DAC	2,211	1,402	775
Income tax expense (benefit)	192	439	813
Adjustment to increase opening retained earnings	6,908	6,116
Accumulated Other Comprehensive Earnings (Loss)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adjustment to increase opening retained earnings	$ (2,119)	$ (2,870)	$ 878	$ 1,331
Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
MRB				159
VOBA				(22)
DAC				(2)
Income tax expense (benefit)				20
Cumulative Effect, Period of Adoption, Adjustment \| Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Contractholder funds				101
MRB				30
FPB				(14)
VOBA				(21)
DAC				(1)
Increase to Equity, gross of tax				95
Adjustment to increase opening retained earnings				75
Cumulative Effect, Period of Adoption, Adjustment \| Accumulated Other Comprehensive Earnings (Loss)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Contractholder funds				115
MRB				(160)
FPB				(159)
VOBA				233
DAC				5
Increase to Equity, gross of tax				34
Income tax expense (benefit)				9
Adjustment to increase opening retained earnings				$ 25

Market Risk Benefits

12 Months Ended

Dec. 31, 2023

Insurance [Abstract]

Market Risk Benefits

The following table presents the balances of and changes in MRBs associated with FIAs and fixed rate annuities for the years ended December 31, 2023, December 31, 2022, and December 31, 2021:


	December 31, 2023				December 31, 2022				December 31, 2021
	FIA		Fixed rate annuities		FIA		Fixed rate annuities		FIA		Fixed rate annuities
	(Dollars in millions)
Balance, beginning of period, net liability	$	164	$	1	$	426	$	2	$	478	$	1

Balance, beginning of period, before effect of changes in the instrument-specific credit risk	$	102	$	1	$	280	$	1	$	320	$	1
Issuances and benefit payments	(10)		—		(21)		—		(9)		—
Attributed fees collected and interest accrual	131		—		107		1		99		1
Actual policyholder behavior different from expected	27		—		43		—		(22)		—
Changes in assumptions and other	29		—		(76)		—		—		—


Effects of market related movements	(70)		—		(231)		(1)		(108)		(1)
Balance, end of period, before effect of changes in the instrument-specific credit risk	$	209	$	1	$	102	$	1	$	280	$	1
Effect of changes in the instrument-specific credit risk	105		—		62		—		146		1
Balance, end of period, net liability	$	314	$	1	$	164	$	1	$	426	$	2



Weighted-average attained age of policyholders weighted by total AV (years)	68.28		72.59		68.59		72.88		68.95		73.10
Net amount at risk	$	1,059	$	2	$	952	$	3	$	1,304	$	4

The following table reconciles MRBs by amounts in an asset position and amounts in a liability position to the MRBs amounts in the Consolidated Balance Sheets:


	December 31, 2023						December 31, 2022						December 31, 2021
	Asset		Liability		Net		Asset		Liability		Net		Asset		Liability		Net
	(In millions)
FIA	88		402		314		117		281		164		41		467		426
Fixed rate annuities	—		1		1		—		1		1		—		2		2
Total	$	88	$	403	$	315	$	117	$	282	$	165	$	41	$	469	$	428

Contractholder Funds

The following tables summarize balances of and changes in contractholder funds’ account balances:


	December 31, 2023
	FIA			Fixed rate annuities			Universal Life			FABN (b)		FHLB (b)
	(Dollars in millions)
Balance, beginning of year	$	24,766		$	9,358		$	2,112		$	2,613	$	1,982
Issuances	4,722			5,061			199			—		1,256
Premiums received	103			1			382			—		—
Policy charges (a)	(182)			—			(261)			—		—
Surrenders and withdrawals	(2,005)			(1,142)			(90)			—		—
Benefit payments	(526)			(240)			(27)			(53)		(763)

Interest credited	270			405			76			54		64
Other	16			—			—			(1)		—
Balance, end of year	$	27,164		$	13,443		$	2,391		$	2,613	$	2,539
Embedded derivative adjustment (c)	243			—			84			—		—
Gross Liability, end of period	$	27,407		$	13,443		$	2,475		$	2,613	$	2,539
Less: Reinsurance	(17)			(7,520)			(894)			—		—
Net Liability, after Reinsurance	$	27,390		$	5,923		$	1,581		$	2,613	$	2,539

Weighted-average crediting rate	1.40		%	4.85		%	3.44		%	N/A		N/A
Net amount at risk (d)	N/A			N/A			$	60,389		N/A		N/A
Cash surrender value (e)	$	25,099		$	12,505		$	1,872		N/A		N/A

(a) Contracts included in the contractholder funds are generally charged a premium and/or monthly assessments on the basis of the account balance.

(c) The embedded derivative adjustment reconciles the account balance to the gross GAAP liability and represents the combination of the host contract and the fair value of the embedded derivatives.

(e) These amounts are gross of reinsurance


	December 31, 2022
	FIA			Fixed rate annuities			Universal Life			FABN (b)		FHLB (b)
	(Dollars in millions)
Balance, beginning of year	$	21,997		$	6,367		$	1,907		$	1,904	$	1,543
Issuances	4,462			3,758			167			700		1,192
Premiums received	106			3			295			—		—
Policy charges (a)	(166)			(1)			(209)			—		—
Surrenders and withdrawals	(1,322)			(797)			(74)			—		—
Benefit payments	(485)			(192)			(22)			(35)		(789)

Interest credited	198			220			48			45		36
Other	(24)			—			—			(1)		—
Balance, end of year	$	24,766		$	9,358		$	2,112		$	2,613	$	1,982
Embedded derivative adjustment (c)	(343)			—			15			—		—
Gross Liability, end of period	$	24,423		$	9,358		$	2,127		$	2,613	$	1,982
Less: Reinsurance	(17)			(3,723)			(947)			—		—
Net Liability, after Reinsurance	$	24,406		$	5,635		$	1,180		$	2,613	$	1,982

Weighted-average crediting rate	0.85		%	2.84		%	2.39		%	N/A		N/A
Net amount at risk (d)	N/A			N/A			$	53,348		N/A		N/A
Cash surrender value (e)	$	23,049		$	8,744		$	1,698		N/A		N/A

(a) Contracts included in the contractholder funds are generally charged a premium and/or monthly assessments on the basis of the account balance.

(c) The embedded derivative adjustment reconciles the account balance to the gross GAAP liability and represents the combination of the host contract and the fair value of the embedded derivatives.

(e) These amounts are gross of reinsurance


	December 31, 2021
	FIA			Fixed rate annuities			Universal Life			FABN (b)		FHLB (b)
	(Dollars in millions)
Balance, beginning of year	$	18,703		$	5,142		$	1,696		$	—	$	1,203
Issuances	4,400			1,743			114			1,899		759
Premiums received	103			3			233			—		—
Policy charges (a)	(148)			(1)			(167)			—		—
Surrenders and withdrawals	(1,303)			(543)			(68)			—		—
Benefit payments	(440)			(145)			(19)			(7)		(447)

Interest credited	686			167			118			12		30
Other	(4)			1			—			—		(2)
Balance, end of year	$	21,997		$	6,367		$	1,907		$	1,904	$	1,543
Embedded derivative adjustment (c)	603			—			74			—		—
Gross Liability, end of period	$	22,600		$	6,367		$	1,981		$	1,904	$	1,543
Less: Reinsurance	(17)			(1,692)			(984)			—		—
Net Liability, after Reinsurance	$	22,583		$	4,675		$	997		$	1,904	$	1,543

Weighted-average crediting rate	3.43		%	2.94		%	6.77		%	N/A		N/A
Net amount at risk (d)	N/A			N/A			$	41,326		N/A		N/A
Cash surrender value (e)	$	20,455		$	5,992		$	1,572		N/A		N/A

(a) Contracts included in the contractholder funds are generally charged a premium and/or monthly assessments on the basis of the account balance.

(c) The embedded derivative adjustment reconciles the account balance to the gross GAAP liability and represents the combination of the host contract and the fair value of the embedded derivatives.

(e) These amounts are gross of reinsurance

The following table reconciles contractholder funds’ account balances to the contractholder funds liability in the Consolidated Balance Sheets:


	December 31, 2023		December 31, 2022		December 31, 2021
	(In millions)
FIA	$	27,407	$	24,423	$	22,600
Fixed rate annuities	13,443		9,358		6,367
Immediate annuities	311		332		352
Universal life	2,475		2,127		1,981
Traditional life	5		5		5
Funding Agreement-FABN	2,613		2,613		1,904
FHLB	2,539		1,982		1,543
PRT	5		3		1
Total	$	48,798	$	40,843	$	34,753


	December 31, 2023
Range of guaranteed minimum crediting rate	At Guaranteed Minimum		1 Basis Point-50 Basis Points Above		51 Basis Points-150 Basis Points Above		Greater Than 150 Basis Points Above		Total
FIA	(In millions)
0.00%-1.50%	$	22,392	$	1,444	$	526	$	1,953	$	26,315
1.51%-2.50%	196		1		24		250		471
Greater than 2.50%	377		1		—		—		378
Total	$	22,965	$	1,446	$	550	$	2,203	$	27,164

Fixed Rate Annuities
0.00%-1.50%	$	23	$	25	$	1,532	$	10,271	$	11,851
1.51%-2.50%	5		8		23		453		489
Greater than 2.50%	893		2		4		204		1,103
Total	$	921	$	35	$	1,559	$	10,928	$	13,443

Universal Life
0.00%-1.50%	$	1,987	$	5	$	—	$	21	$	2,013
1.51%-2.50%	—		—		—		—		—
Greater than 2.50%	361		16		1		—		378
Total	$	2,348	$	21	$	1	$	21	$	2,391


	December 31, 2022
Range of guaranteed minimum crediting rate	At Guaranteed Minimum		1 Basis Point-50 Basis Points Above		51 Basis Points-150 Basis Points Above		Greater Than 150 Basis Points Above		Total
FIA	(In millions)
0.00%-1.50%	$	22,848	$	801	$	410	$	151	$	24,210
1.51%-2.50%	162		—		1		—		163
Greater than 2.50%	390		—		3		—		393
Total	$	23,400	$	801	$	414	$	151	$	24,766

Fixed Rate Annuities
0.00%-1.50%	$	10	$	32	$	1,871	$	6,379	$	8,292
1.51%-2.50%	9		14		30		1		54
Greater than 2.50%	997		4		4		7		1,012
Total	$	1,016	$	50	$	1,905	$	6,387	$	9,358

Universal Life
0.00%-1.50%	$	1,701	$	3	$	—	$	17	$	1,721
1.51%-2.50%	—		—		—		—		—
Greater than 2.50%	346		44		1		—		391
Total	$	2,047	$	47	$	1	$	17	$	2,112


	December 31, 2021
Range of guaranteed minimum crediting rate	At Guaranteed Minimum		1 Basis Point-50 Basis Points Above		51 Basis Points-150 Basis Points Above		Greater Than 150 Basis Points Above		Total
FIA	(In millions)
0.00%-1.50%	$	20,162	$	803	$	388	$	—	$	21,353
1.51%-2.50%	171		11		25		—		207
Greater than 2.50%	431		3		3		—		437
Total	$	20,764	$	817	$	416	$	—	$	21,997

Fixed Rate Annuities
0.00%-1.50%	$	2	$	28	$	1,928	$	3,219	$	5,177
1.51%-2.50%	9		15		37		1		62
Greater than 2.50%	954		142		25		7		1,128
Total	$	965	$	185	$	1,990	$	3,227	$	6,367

Universal Life
0.00%-1.50%	$	1,486	$	2	$	—	$	13	$	1,501
1.51%-2.50%	—		—		—		—		—
Greater than 2.50%	359		46		1		—		406
Total	$	1,845	$	48	$	1	$	13	$	1,907

Notes Payable (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Notes Payable

Notes payable consists of the following:


	December 31, 2023		December 31, 2022
	(In millions)
4.50% Notes, net of discount	$	446	$	445

3.40% Notes, net of discount	644		644





2.45% Notes, net of discount	594		594
3.20% Notes, net of discount	444		444
Revolving Credit Facility	(2)		(3)
F&G Credit Agreement	362		547
5.50% F&G Notes, net of discount	561		567

7.40% F&G Notes, net of discount	495		—





7.95% F&G Notes, net of discount	336		—
Other	7		—

	$	3,887	$	3,238

B. Notes Payable

Notes payable consist of the following:


	December 31,
	2023		2022
	(In millions)
4.50% Notes, net of discount	$	446	$	445

3.40% Notes, net of discount	644		644
2.45% Notes, net of discount	594		594
3.20% Notes, net of discount	444		443
Revolving credit facility	(2)		(3)

	$	2,126	$	2,123

Schedule of Principal Maturities of Notes Payable


Gross principal maturities of notes payable at December 31, 2023, are as follows:	(In millions)
2024	$	365
2025	550
2026	6
2027	—
2028	950
Thereafter	2,045
	$	3,916

- Definition

+ References

+ Details

Accounts Payable and Other Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2023

Payables and Accruals [Abstract]

Schedule of Accounts Payable and Other Accrued Liabilities

Accounts payable and other accrued liabilities consist of the following:


	December 31,
	2023		2022
	(In millions)
Salaries and incentives	$	373	$	390
Accrued benefits	437		408
URL	270		166
Deferred revenue	91		93
Contingent consideration - acquisitions	49		47
Trade accounts payable	339		156

Accrued recording fees and transfer taxes	15		12
Accrued premium taxes	3		20
Liability for policy and contract claims	92		109
Retained asset account	81		117
Remittances and items not allocated	284		225
Option collateral liabilities	588		178

Other accrued liabilities	387		405
	$	3,009	$	2,326

The following tables roll forward URL for the years ended December 31, 2023 and December 31, 2022:


	Universal Life		Total
	(In millions)
Balance at January 1, 2023	$	166	$	166
Capitalization	119		119
Amortization	(15)		(15)
Balance at December 31, 2023	$	270	$	270

	Universal Life		Total
	(In millions)
Balance at January 1, 2022	$	87	$	87
Capitalization	89		89
Amortization	(10)		(10)
Balance at December 31, 2022	$	166	$	166

Roll Forward of URL

The following tables roll forward URL for the years ended December 31, 2023 and December 31, 2022:


	Universal Life		Total
	(In millions)
Balance at January 1, 2023	$	166	$	166
Capitalization	119		119
Amortization	(15)		(15)
Balance at December 31, 2023	$	270	$	270

	Universal Life		Total
	(In millions)
Balance at January 1, 2022	$	87	$	87
Capitalization	89		89
Amortization	(10)		(10)
Balance at December 31, 2022	$	166	$	166

Notes Payable

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Notes Payable

Notes payable consists of the following:


	December 31, 2023		December 31, 2022
	(In millions)
4.50% Notes, net of discount	$	446	$	445

3.40% Notes, net of discount	644		644





2.45% Notes, net of discount	594		594
3.20% Notes, net of discount	444		444
Revolving Credit Facility	(2)		(3)
F&G Credit Agreement	362		547
5.50% F&G Notes, net of discount	561		567

7.40% F&G Notes, net of discount	495		—





7.95% F&G Notes, net of discount	336		—
Other	7		—

	$	3,887	$	3,238

On December 6th, 2023, F&G issued $345 million of its 7.95% Senior Notes due 2053. The 7.95% F&G Notes were issued at par, net of deferred issuance costs of approximately $9 million. The 7.95% F&G Notes are senior unsecured, unsubordinated obligations of F&G and are guaranteed by each of F&G’s subsidiaries that are guarantors of F&G’s obligations under its existing credit agreement. The 7.95% F&G Notes mature on December 15, 2053, and become callable on or after December 15, 2028. Interest is payable quarterly at a fixed rate of 7.95%, and, if the 7.95% F&G Notes are downgraded, the interest rate payable is subject to adjustment from time to time per the terms of the indenture. F&G used a portion of the net proceeds from the offering to repay borrowings under its revolving credit facility as discussed below and for general corporate purposes, including the support of organic growth opportunities.

On January 13, 2023, F&G issued $500 million of its 7.40% F&G Notes due 2028. The 7.40% F&G Notes were issued at par, net of deferred issuance costs of approximately $6 million. The 7.40% F&G Notes are senior, unsecured unsubordinated obligation of F&G and are fully and unconditionally guaranteed on an unsecured, unsubordinated basis by each of F&G’s subsidiaries that are guarantors of F&G’s obligations under its existing credit agreement. The 7.40% F&G Notes mature on January 13, 2028, and become callable on or after December 13, 2027. Interest is payable semi-annually at a fixed rate of 7.40%, and if, the 7.40% F&G Notes are downgraded, the interest rate payable is subject to adjustment from time to time per the terms of the indenture. F&G used the net proceeds from the offering for general corporate purposes, including to support the growth of assets under management and for F&G's future liquidity requirements.

On November 22, 2022, F&G entered into the F&G Credit Agreement pursuant to which the Lenders have made available the F&G Credit Facility in an aggregate principal amount of $550 million to be used for working capital and general corporate purposes.

The F&G Credit Agreement matures the earlier to occur of November 22, 2025 or 91 days prior to May 1, 2025, the stated maturity date of the 5.50% F&G Notes, unless the principal amount of the 5.50% F&G Notes is $150,000,000 or less at such time, the 5.50% F&G Notes have been redeemed or defeased in full, and any refinancing Indebtedness incurred in connection therewith matures at least 91 days after the date that is 3 years from the Effective Date or certain other conditions are met. Revolving loans under the Credit Agreement generally bear interest at a variable rate based on either (i) the base rate (which is the highest of (a) one-half of one percent in excess of the federal funds rate, (b) the Administrative Agent’s “prime rate”, or (c) the sum of one percent plus Term The Secured Overnight Financing Rate (“SOFR”) plus a margin of between 30.0 and 80.0 basis points depending on the non-credit-enhanced, senior unsecured long-term debt ratings of F&G or (ii) Term SOFR plus a margin of between 130.0 and 180.0 basis points depending on the non-credit-enhanced, senior unsecured long-term debt ratings of F&G. As of December 31, 2022, the revolving credit facility was fully drawn with $550 million outstanding, offset by approximately $3 million of unamortized debt issuance costs. On February 21, 2023, F&G entered into the Amended F&G Credit Agreement with the Lenders and the Administrative Agent, swing line lender and issuing bank. The Amended F&G Credit Agreement increased the aggregate principal amount of commitments under the F&G Credit Facility by $115 million to $665 million. On February 16, 2024, we entered into a Second Amended and Restated F&G Credit Agreement. Among other changes, the Second Amended and Restated F&G Credit Agreement amends the Amended F&G Credit Agreement to extend the maturity date and increase the aggregate principal amount of commitments under the revolving credit facility to $750 million.

As of December 31, 2023, and 2022, $365 million and $550 million, respectively, of gross principal balance, was outstanding under the F&G Credit Agreement. Net partial revolver paydowns of $185 million were made during the year ended December 31, 2023. As of December 31, 2023, we had $300 million of remaining borrowing availability.

On September 17, 2021, we completed our underwritten public offering of $450 million aggregate principal amount of our 3.20% Notes due 2051, pursuant to our registration statement on Form S-3 ASR (File No. 333-239002) and the related prospectus supplement. The net proceeds from the registered offering of the 3.20% Notes were approximately $443 million, after deducting underwriting discounts, commissions and offering expenses. We plan to use the net proceeds from the offering for general corporate purposes.

On October 29, 2020, we entered into the Fifth Restated Credit Agreement for our Amended Revolving Credit Facility with Bank of America, N.A., as administrative agent and the other agents party thereto. Among other changes, the Fifth Restated Credit Agreement amends the Fourth Restated Credit Agreement to extend the maturity date from April 27, 2022 to October 29, 2025. The material terms of the Fourth Restated Credit Agreement are set forth in our Annual Report for the year ended December 31, 2019. As of December 31, 2023, there was no principal outstanding, $2 million of unamortized debt issuance costs, and $800 million of available borrowing capacity under the Revolving Credit Facility. On February 16, 2024, we entered into a Sixth Amended and Restated Credit Agreement. Among other changes, the Sixth Amended and Restated Credit Agreement amends the Fifth Restated Credit Agreement to extend the maturity date from October 29, 2025 to February 16, 2029.

On September 15, 2020, we completed our underwritten public offering of $600 million aggregate principal amount of our 2.45% Notes due March 15, 2031 (the "2.45% Notes") pursuant to an effective registration statement filed with the Securities and Exchange Commission ("SEC"). The net proceeds from the registered offering of the 2.45% Notes were approximately $593 million, after deducting underwriting discounts and commissions and offering expenses. We used the net proceeds from the offering (i) to repay the remaining $260 million outstanding indebtedness under our prior term loan credit agreement dated April 22, 2020, among us, as borrower, various lenders, and Bank of American N.A., as administrative agent (the "Term Loan"), which provided for an aggregate principal borrowing of $1.0 billion that we entered into to fund a portion of the acquisition of F&G and (ii) for general corporate purposes.

On June 12, 2020, we completed our underwritten public offering of $650 million aggregate principal amount of the 3.40% Notes due 2030 (the “3.40% Notes”) pursuant to an effective registration statement filed with the SEC. The net proceeds from the registered offering of the 3.40% Notes were approximately $642 million, after deducting underwriting discounts, and commissions and offering expenses. We used the net proceeds from the offering (i) to repay $640 million of the then outstanding principal amount under the Term Loan, and (ii) for general corporate purposes.

On June 1, 2020, as a result of the F&G acquisition, we assumed $550 million aggregate principal amount of 5.50% senior notes due 2025 (the "5.50% F&G Notes"), originally issued on April 20, 2018, at 99.5% of face value for proceeds of $547 million.

On August 13, 2018, we completed an offering of $450 million in aggregate principal amount of 4.50% notes due August 2028 (the "4.50% Notes"), pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended. The 4.50% Notes were priced at 99.252% of par to yield 4.594% annual interest. We pay interest on the 4.50% Notes semi-annually on the 15th of February and August, beginning February 15, 2019. The 4.50% Notes contain customary covenants and events of default for investment grade public debt, which primarily relate to failure to make principal or interest payments. On May 16, 2019, we completed an offering to exchange the 4.50% Notes for substantially identical notes registered pursuant to Rule 424 under the Securities Act of 1933 (the "4.50% Notes Exchange"). There were no material changes to the terms of the 4.50% Notes as a result of the 4.50% Notes Exchange and all holders of the 4.50% Notes accepted the offer to exchange.

On September 1, 2022, we repaid the remaining $400 million in outstanding principal amount of our 5.50% Senior Notes due September 2022.


Gross principal maturities of notes payable at December 31, 2023, are as follows:	(In millions)
2024	$	365
2025	550
2026	6
2027	—
2028	950
Thereafter	2,045
	$	3,916

Employee Benefit Plans

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Employee Benefit Plans

Stock Purchase Plan

During the three-year period ended December 31, 2023, our eligible employees could voluntarily participate in our employee stock purchase plan (“ESPP”) sponsored by us. Pursuant to the ESPP, employees may contribute an amount between 3% and 15% of their base salary and certain commissions. We contribute varying amounts as specified in the ESPP.

We contributed $30 million, $36 million, and $24 million to the ESPP in the years ended December 31, 2023, 2022, and 2021, respectively, in accordance with our matching contribution.

FNF 401(k) Profit Sharing Plan

During the three-year period ended December 31, 2023, we have offered our employees the opportunity to participate in our 401(k) profit sharing plan (the “401(k) Plan”), a qualified voluntary contributory savings plan that is available to substantially all of our employees. Eligible employees may contribute up to 40% of their pre-tax annual compensation, up to the amount allowed pursuant to the Internal Revenue Code. During the year ended December 31, 2021, we made an employer match on the 401(k) Plan of $0.375 on each $1.00 contributed up to the first 6% of eligible earnings contributed to the 401(k) Plan by employees. During the year ended December 31, 2022, we increased the employer match on the 401(k) Plan to $0.50 on each $1.00 contributed up to the first 6% of eligible earnings contributed to the 401(k) Plan by employees. The employer match was $45 million, $50 million, and $36 million for the years ended December 31, 2023, 2022 and 2021, respectively, and was credited based on the participant's individual investment elections in the FNF 401(k) Plan.

Omnibus Incentive Plan

In 2005, we established the FNT 2005 Omnibus Incentive Plan (as amended and restated, the “Omnibus Plan”) authorizing the issuance of up to 8 million shares of common stock, subject to the terms of the Omnibus Plan. On October 23, 2006; May 29, 2008; May 25, 2011; May 22, 2013; and June 15, 2016, the shareholders of FNF approved amendments to increase the number of shares for issuance under the Omnibus Plan by 16 million, 11 million, 6 million, 6 million and 10 million shares, respectively. The primary purpose of the increases were to assure that we had adequate means to provide equity incentive compensation to our employees on a going-forward basis. The Omnibus Plan provides for the grant of stock options, stock appreciation rights, restricted stock, restricted stock units and performance shares, performance units, other cash and stock-based awards and dividend equivalents. As of December 31, 2023, there were 1,875,395 shares of restricted stock and no stock options outstanding under the Omnibus Plan. Awards granted are approved by the Compensation Committee of the Board of Directors. Options vest over a 3 year period and have a contractual life of 7 years. The exercise price for options granted equals the market price of the underlying stock on the grant date. Stock option grants vest according to certain time based and operating performance criteria. Option exercises by participants are settled on the open market.

F&G Omnibus Incentive Plan

On June 1, 2020, in connection with the acquisition of F&G, we assumed the shares that remained available for future awards under the FGL Holdings 2017 Omnibus Incentive Plan, as amended and restated (the “F&G Omnibus Plan”) and converted such shares into 2,096,429 shares of FNF common stock that may be issued pursuant to future awards granted under the F&G Omnibus Plan and 2,411,585 shares of FNF common stock that may be issued pursuant to outstanding stock options under the F&G Omnibus Plan. Each unvested stock option assumed under the F&G Omnibus Plan was converted into an FNF stock option and vests solely on the passage of time without any ongoing performance-vesting conditions. The options vest over a 3 year period, based on the option's initial grant date, and have a contractual life of 7 years. As of December 31, 2023, there were 181,479 shares of restricted stock and 643,623 stock options outstanding under the F&G Omnibus Plan.

FNF stock option transactions under the Omnibus Plan for 2023, 2022, and 2021 are as follows:


	Options	Weighted Average Exercise Price		Exercisable
Balance, January 1, 2021	2,321,413	$	24.24	2,321,413
Exercised	(1,325,300)	23.28
Balance, December 31, 2021	996,113	$	25.53	996,113
Exercised	(996,113)	25.53

Balance, December 31, 2022	—	$	—	—

Exercised	—	—

Balance, December 31, 2023	—	$	—	—

FNF stock option transactions under the F&G Omnibus Plan for 2023, 2022, and 2021 are as follows:


	Options	Weighted Average Exercise Price		Exercisable
Balance January 1, 2021	2,002,690	$	36.14	1,021,671

Exercised	(474,754)	36.68
Canceled	—	—
Balance, December 31, 2021	1,527,936	$	35.97	1,072,584
Exercised	(352,614)	38.79
Canceled	(2,715)	28.00
Balance, December 31, 2022	1,172,607	$	35.15	1,172,607

Exercised	(502,414)	30.31
Canceled	(26,570)	38.07
Balance, December 31, 2023	643,623	$	38.80	643,623

FNF restricted stock transactions under the Omnibus Plan in 2023, 2022, and 2021 are as follows:



	Shares	Weighted Average Grant Date Fair Value
Balance, December 31, 2020	1,716,555	$	36.26
Granted	772,189	48.27

Canceled	(7,577)	37.20
Vested	(841,941)	36.15
Balance, December 31, 2021	1,639,226	$	41.97
Granted	994,548	40.83

Vested	(792,230)	41.44
Balance, December 31, 2022	1,841,544	$	41.59
Granted	966,093	44.44
Canceled	(23,975)	41.42
Vested	(908,267)	40.26
Balance, December 31, 2023	1,875,395	$	43.69

FNF restricted stock transactions under the F&G Omnibus Plan in 2023, 2022, 2021 are as follows:


	Shares	Weighted Average Grant Date Fair Value
Balance, January 1, 2021	449,870	$	34.11
Granted	311,081	48.28
Canceled	(12,437)	33.40
Vested	(29,873)	34.59
Balance, December 31, 2021	718,641	$	40.24
Granted	—	—
Canceled	(78,551)	37.79
Vested	(138,542)	34.11
Balance, December 31, 2022	501,548	$	42.31
Granted	—	—
Canceled	(15,965)	45.63
Vested	(304,104)	42.87
Balance, December 31, 2023	181,479	$	41.08

The following table summarizes information related to stock options outstanding and exercisable as of December 31, 2023:


	Options Outstanding						Options Exercisable
		Weighted						Weighted
		Average	Weighted					Average	Weighted
		Remaining	Average					Remaining	Average
Range of	Number of	Contractual	Exercise		Intrinsic		Number of	Contractual	Exercise		Intrinsic
Exercise Prices	Options	Life	Price		Value		Options	Life	Price		Value
		(In years)			(In millions)			(In years)			(In millions)
$0.00 - $28.00	17,409	2.60	$	28.00	$	—	17,409	2.60	$	28.00	$	—
$28.01 - $39.10	626,214	1.76	39.10		7		626,214	1.76	39.10		7
	643,623				$	7	643,623				$	7

We account for stock-based compensation plans in accordance with GAAP on share-based payments, which requires that compensation cost relating to share-based payments be recognized in the consolidated financial statements based on the fair value of each award. Using the fair value method of accounting, compensation cost is measured based on the fair value of the award at the grant date and recognized over the service period. Fair value of restricted stock awards and units is based on the grant date value of the underlying stock derived from quoted market prices. The total fair value of restricted stock awards granted in the years ended December 31, 2023, 2022 and 2021 was $43 million, $41 million, and $52 million, respectively. The total fair value of restricted stock awards, which vested in the years ended December 31, 2023, 2022 and 2021 was $51 million, $38 million, and $43 million, respectively. Option awards are measured at fair value on the grant date using the Black Scholes Option Pricing Model. The intrinsic value of options exercised in the years ended December 31, 2023, 2022 and 2021 was $8 million, $16 million, and $32 million, respectively. Net earnings attributable to FNF Shareholders reflects stock-based compensation expense amounts of $60 million for the year ended December 31, 2023, $49 million for the year ended December 31, 2022, and $42 million for the year ended December 31, 2021, which are included in personnel costs in the reported financial results of each period.

At December 31, 2023, the total unrecognized compensation cost related to non-vested stock option grants and restricted stock grants is $59 million, which is expected to be recognized in pre-tax income over a weighted average period of 1.75 years.

Pension Plan

In 2000, FNF merged with Chicago Title Corporation ("CTC"). In connection with the merger, we assumed CTC’s noncontributory defined contribution plan and noncontributory defined benefit pension plan (the “Pension Plan”). The Pension Plan covers certain CTC employees. The benefits are based on years of service and the employee’s average monthly compensation in the highest 60 consecutive calendar months during the 120 months ending at retirement or termination. Effective December 31, 2000, the Pension Plan was frozen and there will be no future credit given for years of service or changes in salary. The accumulated benefit obligation is the same as the projected benefit obligation due to the pension plan

being frozen as of December 31, 2000. Pursuant to GAAP on employers’ accounting for defined benefit pension and other post-retirement plans, the measurement date is December 31.

The discount rate used to determine the benefit obligation as of December 31, 2023 and 2022 was 4.67% and 4.85%, respectively. As of December 31, 2023 and 2022, the projected benefit obligation was $64 million and $117 million, respectively, and the fair value of plan assets was $54 million and $112 million, respectively. The net pension liability and net periodic expense included in our financial position and results of operations relating to the Pension Plan is not considered material for any period presented.

On May 1, 2023, we elected to terminate the Pension Plan, subject to approval by the Pension Benefit Guarantee Corporation and the receipt of a favorable determination letter from the Internal Revenue Service. Upon termination, the account balance of each participant in the Pension Plan shall become fully vested. Each remaining participant or beneficiary in the Pension Plan shall be given one of the following options with respect to termination of the Pension Plan: (i) a lump-sum distribution of the participant's account balance; or (ii) an annuity benefit equal to the participant’s account balance.

Recent Accounting Pronouncements - ASU 2018-12 Transition Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adjustment to increase opening retained earnings	$ 6,908	$ 6,116
Cumulative Effect, Period of Adoption, Adjustment \| Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adjustment to increase opening retained earnings			$ 75

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 50
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147477123/405-50-65-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 13
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482477/820-10-65-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482477/820-10-65-13

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-5

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-5

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-5

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-5

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480424/946-10-50-3

+ Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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+ Details

Regulation and Equity (Tables)

12 Months Ended

Dec. 31, 2023

Insurance [Abstract]

Statutory Accounting Practices Disclosure

Statutory net income and statutory capital and surplus of our wholly owned U.S. regulated insurance subsidiaries were as follows:


	Subsidiary (state of domicile) (a)
	FGL Insurance (IA)		FGL NY Insurance (NY)		Raven Re (VT)		Corbeau Re (VT)
Statutory Net income (loss):	(In millions)
Year ended December 31, 2023	$	(462)	$	5	$	60	$	(644)
Year ended December 31, 2022	(243)		(15)		(111)		—
Year ended December 31, 2021	351		4		3		—

Statutory Capital and Surplus:
December 31, 2023	$	2,009	$	86	$	140	$	171
December 31, 2022	1,877		82		121		—

(a) FGL NY Insurance, Raven Re and Corbeau Re are subsidiaries of FGL Insurance, and the columns should not be added together. Corbeau Re was incorporated on September 1, 2023.

Net income and capital and surplus of our wholly owned Bermuda and Cayman Islands regulated insurance subsidiaries under U.S. GAAP were as follows (in millions):


	Subsidiary (country of domicile)
	F&G Cayman Re (Cayman Islands)		F&G Life Re (Bermuda)
Statutory Net income (loss):
Year ended December 31, 2023	$	384	$	151
Year ended December 31, 2022	(299)		(339)
Year ended December 31, 2021	99		94
Statutory Capital and Surplus (Deficit):
December 31, 2023	$	114	$	11
December 31, 2022	(126)		(138)

- Definition

Tabular disclosure of how the entity's reporting under GAAP as of the balance sheet date differs from the results based on prescribed and permitted accounting practices of the state or country of domicile in which a relevant statutory filing is made, or differences in results based on the National Association of Insurance Commissioners (NAIC) prescribed practices, or a combination thereof. Describes the accounting practices used and the related monetary effect on statutory surplus, net income, and risk-based capital. If an insurance enterprise's risk-based capital would have triggered a regulatory event had it not used a permitted practice, that fact is disclosed in the financial statements. Permitted statutory accounting practices include practices not prescribed but allowed by the domiciliary state insurance department regulatory authority.

+ References + Details

Fair Value of Financial Instruments - Carrying Amounts of Assets and Liabilities at Estimated Fair Value Measured on a Recurring Basis (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	$ 42,373	$ 33,095
Derivative investments	797	244
Market risk benefits assets	88	117	$ 41
Total financial assets at fair value	1,312	1,112
Derivatives:
Market risk benefits liability	403	282	$ 469
Level 1
Assets, Fair Value Disclosure [Abstract]
Cash and cash equivalents	2,767	2,286
Derivative investments	0	0
Investment in unconsolidated affiliates	0
Short term investments	2,111	2,590
Market risk benefits assets	0	0
Total financial assets at fair value	6,566	6,210
Derivatives:
Market risk benefits liability	0	0
Total financial liabilities at fair value	1	0
Level 2
Assets, Fair Value Disclosure [Abstract]
Cash and cash equivalents	0	0
Derivative investments	740	244
Investment in unconsolidated affiliates	0
Short term investments	8	0
Market risk benefits assets	0	0
Total financial assets at fair value	33,703	25,720
Derivatives:
Market risk benefits liability	0	0
Total financial liabilities at fair value	0	0
Level 3
Assets, Fair Value Disclosure [Abstract]
Cash and cash equivalents	0	0
Derivative investments	57	0
Investment in unconsolidated affiliates	285
Short term investments	0	0
Market risk benefits assets	88	117
Total financial assets at fair value	9,677	8,286
Derivatives:
Market risk benefits liability	403	282
Total financial liabilities at fair value	4,661	3,397
NAV
Assets, Fair Value Disclosure [Abstract]
Total financial assets at fair value	59	47
Total Estimated Fair Value
Assets, Fair Value Disclosure [Abstract]
Cash and cash equivalents	2,767	2,286
Derivative investments	797	244
Investment in unconsolidated affiliates	285
Short term investments	2,119	2,590
Market risk benefits assets	88	117
Total financial assets at fair value	50,005	40,263
Derivatives:
Market risk benefits liability	403	282
Total financial liabilities at fair value	4,662	3,397
Reinsurance related embedded derivatives \| Level 1
Assets, Fair Value Disclosure [Abstract]
Derivative investments	0
Reinsurance related embedded derivatives \| Level 2
Assets, Fair Value Disclosure [Abstract]
Derivative investments	152
Reinsurance related embedded derivatives \| Level 3
Assets, Fair Value Disclosure [Abstract]
Derivative investments	0
Reinsurance related embedded derivatives \| Total Estimated Fair Value
Assets, Fair Value Disclosure [Abstract]
Derivative investments	152
FIA/ IUL embedded derivatives, included in contractholder funds \| Level 1
Derivatives:
Derivative liability	0	0
FIA/ IUL embedded derivatives, included in contractholder funds \| Level 2
Derivatives:
Derivative liability	0	0
FIA/ IUL embedded derivatives, included in contractholder funds \| Level 3
Derivatives:
Derivative liability	4,258	3,115
FIA/ IUL embedded derivatives, included in contractholder funds \| Total Estimated Fair Value
Derivatives:
Derivative liability	4,258	3,115
Reinsurance related embedded derivative, included in other assets \| Level 1
Assets, Fair Value Disclosure [Abstract]
Derivative investments		0
Reinsurance related embedded derivative, included in other assets \| Level 2
Assets, Fair Value Disclosure [Abstract]
Derivative investments		279
Reinsurance related embedded derivative, included in other assets \| Level 3
Assets, Fair Value Disclosure [Abstract]
Derivative investments		0
Reinsurance related embedded derivative, included in other assets \| Total Estimated Fair Value
Assets, Fair Value Disclosure [Abstract]
Derivative investments		279
Futures contracts \| Level 1
Derivatives:
Derivative liability	1
Futures contracts \| Level 2
Derivatives:
Derivative liability	0
Futures contracts \| Level 3
Derivatives:
Derivative liability	0
Futures contracts \| Total Estimated Fair Value
Derivatives:
Derivative liability	1
Asset-backed securities
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	14,342	11,467
Asset-backed securities \| Level 1
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	0	0
Asset-backed securities \| Level 2
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	7,220	5,204
Asset-backed securities \| Level 3
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	7,122	6,263
Asset-backed securities \| Total Estimated Fair Value
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	14,342	11,467
Commercial mortgage-backed securities
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	4,475	3,063
Commercial mortgage-backed securities \| Level 1
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	0	0
Commercial mortgage-backed securities \| Level 2
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	4,457	3,026
Commercial mortgage-backed securities \| Level 3
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	18	37
Commercial mortgage-backed securities \| Total Estimated Fair Value
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	4,475	3,063
Corporates
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	17,896	14,337
Corporates \| Level 1
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	25	40
Corporates \| Level 2
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	15,892	12,857
Corporates \| Level 3
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	1,979	1,440
Corporates \| Total Estimated Fair Value
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	17,896	14,337
Hybrids
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	618	731
Hybrids \| Level 1
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	95	93
Hybrids \| Level 2
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	523	638
Hybrids \| Level 3
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	0	0
Hybrids \| Total Estimated Fair Value
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	618	731
Municipals \| Level 1
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	0	0
Municipals \| Level 2
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	1,562	1,431
Municipals \| Level 3
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	49	29
Municipals \| Total Estimated Fair Value
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	1,611	1,460
Residential mortgage-backed securities
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	2,429	1,527
Residential mortgage-backed securities \| Level 1
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	0	0
Residential mortgage-backed securities \| Level 2
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	2,426	1,225
Residential mortgage-backed securities \| Level 3
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	3	302
Residential mortgage-backed securities \| Total Estimated Fair Value
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	2,429	1,527
U.S. Government
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	678	271
U.S. Government \| Level 1
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	662	260
U.S. Government \| Level 2
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	16	11
U.S. Government \| Level 3
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	0	0
U.S. Government \| Total Estimated Fair Value
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	678	271
Foreign Governments
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	324	239
Foreign Governments \| Level 1
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	0	0
Foreign Governments \| Level 2
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	308	223
Foreign Governments \| Level 3
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	16	16
Foreign Governments \| Total Estimated Fair Value
Assets, Fair Value Disclosure [Abstract]
Fixed maturity securities available-for-sale	324	239
Equity securities \| Level 1
Assets, Fair Value Disclosure [Abstract]
Equity securities	692	621
Equity securities \| Level 2
Assets, Fair Value Disclosure [Abstract]
Equity securities	0	0
Equity securities \| Level 3
Assets, Fair Value Disclosure [Abstract]
Equity securities	15	10
Equity securities \| NAV
Assets, Fair Value Disclosure [Abstract]
Equity securities	59	47
Equity securities \| Total Estimated Fair Value
Assets, Fair Value Disclosure [Abstract]
Equity securities	766	678
Preferred securities
Assets, Fair Value Disclosure [Abstract]
Equity securities	621	903
Preferred securities \| Level 1
Assets, Fair Value Disclosure [Abstract]
Equity securities	214	320
Preferred securities \| Level 2
Assets, Fair Value Disclosure [Abstract]
Equity securities	399	582
Preferred securities \| Level 3
Assets, Fair Value Disclosure [Abstract]
Equity securities	8	1
Preferred securities \| Total Estimated Fair Value
Assets, Fair Value Disclosure [Abstract]
Equity securities	621	903
Investment in unconsolidated affiliates \| Level 1
Assets, Fair Value Disclosure [Abstract]
Investment in unconsolidated affiliates		0
Investment in unconsolidated affiliates \| Level 2
Assets, Fair Value Disclosure [Abstract]
Investment in unconsolidated affiliates		0
Investment in unconsolidated affiliates \| Level 3
Assets, Fair Value Disclosure [Abstract]
Investment in unconsolidated affiliates		23
Investment in unconsolidated affiliates \| Total Estimated Fair Value
Assets, Fair Value Disclosure [Abstract]
Investment in unconsolidated affiliates		23
Other long-term investments \| Level 1
Assets, Fair Value Disclosure [Abstract]
Other long-term investments	0	0
Other long-term investments \| Level 2
Assets, Fair Value Disclosure [Abstract]
Other long-term investments	0	0
Other long-term investments \| Level 3
Assets, Fair Value Disclosure [Abstract]
Other long-term investments	37	48
Other long-term investments \| Total Estimated Fair Value
Assets, Fair Value Disclosure [Abstract]
Other long-term investments	$ 37	$ 48

Other Intangible Assets - Reconciliation of Other Intangibles to Balance Sheet (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
VOBA	$ 1,446	$ 1,615	$ 1,743
DAC	2,215	1,411
DSI	346	200	$ 127
Total	4,627	3,811
Value of distribution asset
Finite-Lived Intangible Assets [Line Items]
Definite lived	86	100
Computer software
Finite-Lived Intangible Assets [Line Items]
Definite lived	266	196
Customer relationships and contracts
Finite-Lived Intangible Assets [Line Items]
Definite lived	174	202
Trademarks, tradenames, and other
Finite-Lived Intangible Assets [Line Items]
Definite lived	$ 94	$ 87

Other Intangible Assets - Reconciliation of VOBA, DAC and DSI to the Condensed Consolidated Balance Sheets (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
VOBA	$ 1,446	$ 1,615	$ 1,743
DAC	2,215	1,411
DSI	346	200	127
FIA
Finite-Lived Intangible Assets [Line Items]
VOBA	1,025	1,166	1,314
DAC	1,378	971
DSI	346	200	127
Fixed Rate Annuities
Finite-Lived Intangible Assets [Line Items]
VOBA	27	32	39
DAC	288	83
Immediate Annuities
Finite-Lived Intangible Assets [Line Items]
VOBA	191	201	212
Universal Life
Finite-Lived Intangible Assets [Line Items]
VOBA	134	143	153
DAC	545	348
Traditional Life
Finite-Lived Intangible Assets [Line Items]
VOBA	69	73	$ 25
Funding Agreements
Finite-Lived Intangible Assets [Line Items]
DAC	$ 4	$ 9

Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

Our measurement of fair value is based on assumptions used by market participants in pricing the asset or liability, which may include inherent risk, restrictions on the sale or use of an asset, or non-performance risk, which may include our own credit risk. We estimate an exchange price is the price in an orderly transaction between market participants to sell the asset or transfer the liability (“exit price”) in the principal market, or the most advantageous market for that asset or liability in the absence of a principal market as opposed to the price that would be paid to acquire the asset or assume a liability (“entry price”). We categorize financial instruments carried at fair value into a three-level fair value hierarchy, based on the priority of inputs to the respective valuation technique, along with NAV. The hierarchy for fair value measurement is defined as follows:

Level 1 - Values are unadjusted quoted prices for identical assets and liabilities in active markets accessible at the measurement date.

Level 2 - Inputs include quoted prices for similar assets or liabilities in active markets, quoted prices from those willing to trade in markets that are not active, or other inputs that are observable or can be corroborated by market data for the term of the instrument. Such inputs include market interest rates and volatilities, spreads, and yield curves.

Level 3 - Certain inputs are unobservable (supported by little or no market activity) and significant to the fair value measurement. Unobservable inputs reflect the Company’s best estimate of what hypothetical market participants would use to determine a transaction price for the asset or liability at the reporting date based on the best information available in the circumstances.

NAV - Certain equity investments are measured using NAV as a practical expedient in determining fair value. In addition, our unconsolidated affiliates (primarily limited partnerships) are primarily accounted for using the equity method of accounting with fair value determined using NAV as a practical expedient. Our carrying value reflects our pro rata ownership percentage as indicated by NAV in the limited partnership financial statements, which we may adjust if we determine NAV is not calculated consistent with investment company fair value principles. The underlying investments of the limited partnerships may have significant unobservable inputs, which may include, but are not limited to, comparable multiples and weighted average cost of capital rates applied in valuation models or a discounted cash flow model. Additionally, management meets quarterly with the general partner to determine whether any credit or other market events have occurred since prior quarter financial statements to ensure any material events are properly included in current quarter valuation and investment income.

In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the investment.

When a determination is made to classify an asset or liability within Level 3 of the fair value hierarchy, the determination is based upon the significance of the unobservable inputs to the overall fair value measurement. Because certain securities trade in less liquid or illiquid markets with limited or no pricing information, the determination of fair value for these securities is inherently more difficult. In addition to the unobservable inputs, Level 3 fair value investments may include observable components, which are components that are actively quoted or can be validated to market-based sources.

The carrying amounts and estimated fair values of our financial instruments for which the disclosure of fair values is required, including financial assets and liabilities measured and carried at fair value on a recurring basis, with the exception of investment contracts, portions of other long-term investments and debt, which are disclosed later within this footnote, was summarized according to the hierarchy previously described, as follows:


	December 31, 2023
	Level 1		Level 2		Level 3		NAV		Fair Value
Assets	(In millions)
Cash and cash equivalents	$	2,767	$	—	$	—	$	—	$	2,767
Fixed maturity securities, available-for-sale:
Asset-backed securities	—		7,220		7,122		—		14,342
Commercial mortgage-backed securities	—		4,457		18		—		4,475
Corporates	25		15,892		1,979		—		17,896
Hybrids	95		523		—		—		618
Municipals	—		1,562		49		—		1,611
Residential mortgage-backed securities	—		2,426		3		—		2,429
U.S. Government	662		16		—		—		678
Foreign Governments	—		308		16		—		324
Equity securities	692		—		15		59		766
Preferred securities	214		399		8		—		621

Derivative investments	—		740		57		—		797
Investments in unconsolidated affiliates	—		—		285		—		285
Short term investments	2,111		8		—		—		2,119
Reinsurance related embedded derivative, included in other assets	—		152		—		—		152
Other long-term investments	—		—		37		—		37

Market risk benefits asset	—		—		88		—		88
Total financial assets at fair value	$	6,566	$	33,703	$	9,677	$	59	$	50,005
Liabilities

Derivatives:
FIA/ IUL embedded derivatives, included in contractholder funds	—		—		4,258		—		4,258
Market risk benefits liability	—		—		403		—		403

Derivative instruments - futures contracts	1		—		—				1

Total financial liabilities at fair value	$	1	$	—	$	4,661	$	—	$	4,662


	December 31, 2022
	Level 1		Level 2		Level 3		NAV		Fair Value
Assets	(In millions)
Cash and cash equivalents	$	2,286	$	—	$	—	$	—	$	2,286
Fixed maturity securities, available-for-sale:
Asset-backed securities	—		5,204		6,263		—		11,467
Commercial mortgage-backed securities	—		3,026		37		—		3,063
Corporates	40		12,857		1,440		—		14,337
Hybrids	93		638		—		—		731
Municipals	—		1,431		29		—		1,460
Residential mortgage-backed securities	—		1,225		302		—		1,527
U.S. Government	260		11		—		—		271
Foreign Governments	—		223		16		—		239



Equity securities	621		—		10		47		678
Preferred securities	320		582		1		—		903

Derivative investments	—		244		—		—		244
Investment in unconsolidated affiliates	—		—		23		—		23
Reinsurance related embedded derivative, included in other assets	—		279		—		—		279
Short term investments	2,590		—		—		—		2,590
Market risk benefits asset	—		—		117		—		117
Other long-term investments	—		—		48		—		48

Total financial assets at fair value	$	6,210	$	25,720	$	8,286	$	47	$	40,263
Liabilities

Derivatives:
FIA/ IUL embedded derivatives, included in contractholder funds	—		—		3,115		—		3,115
Market risk benefits liability	—		—		282		—		282


Total financial liabilities at fair value	$	—	$	—	$	3,397	$	—	$	3,397

Valuation Methodologies

Cash and Cash Equivalents

The carrying amounts reported in the Consolidated Balance Sheets for these instruments approximate fair value.

Fixed Maturity, Preferred and Equity Securities

We measure the fair value of our securities based on assumptions used by market participants in pricing the security. The most appropriate valuation methodology is selected based on the specific characteristics of the fixed maturity, preferred or equity security, and we will then consistently apply the valuation methodology to measure the security’s fair value. Our fair value measurement is based on a market approach, which utilizes prices and other relevant information generated by market transactions involving identical or comparable securities. Sources of inputs to the market approach include third-party pricing services, independent broker quotations, or pricing matrices. We use observable and unobservable inputs in our valuation methodologies. Observable inputs include benchmark yields, reported trades, broker-dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data including market research publications. In addition, market indicators and industry and economic events are monitored and further market data will be acquired when certain thresholds are met.

For certain security types, additional inputs may be used, or some of the inputs described above may not be applicable. The significant input used in the fair value measurement of equity securities for which the market approach valuation technique is employed is yield for comparable securities. Increases or decreases in the yields would result in lower or higher, respectively, fair value measurements. For broker-quoted only securities, quotes from market makers or broker-dealers are obtained from sources recognized to be market participants. We believe the broker quotes are prices at which trades could be executed based on historical trades executed at broker-quoted or slightly higher prices.

We analyze the third-party valuation methodologies and related inputs to perform assessments to determine the appropriate level within the fair value hierarchy. However, we did not adjust prices received from third parties as of December 31, 2023 or December 31, 2022.

Certain equity investments are measured using NAV as a practical expedient in determining fair value.

Derivative Financial Instruments

Our call options, futures contracts, and interest rate swaps can either be exchange traded or over the counter. Exchange traded derivatives typically fall within Level 1 of the fair value hierarchy if there is active trading activity. Two methods are used to value over-the-counter derivatives. When required inputs are available, certain derivatives are valued using valuation pricing models, which represent what we would expect to receive or pay at the balance sheet date if we cancelled or exercised the derivative, or entered into offsetting positions. Valuation models require a variety of inputs, which include the use of market-observable inputs, including interest rate, yield curve volatilities, and other factors. These over-the-counter derivatives are typically classified within Level 2 of the fair value hierarchy as the majority trade in liquid markets, we can verify model inputs and model selection does not involve significant management judgment. When inputs aren’t available for valuation models, certain over-the-counter derivatives are valued using independent broker quotes, which are based on unobservable market data and classified within Level 3.

The fair value measurement of the FIA/IUL embedded derivatives included in contractholder funds is determined through a combination of market observable information and significant unobservable inputs using the option budget method. The market observable inputs are the market value of option and treasury rates. The significant unobservable inputs are the budgeted option cost (i.e., the expected cost to purchase call options in future periods to fund the equity indexed linked feature), surrender rates, mortality multiplier and non-performance spread. The mortality multiplier at December 31, 2023 and December 31, 2022 was applied to the 2012 Individual Annuity mortality tables. Increases or decreases in the market value of an option in isolation would result in a higher or lower, respectively, fair value measurement. Increases or decreases in treasury rates, mortality multiplier, surrender rates, or non-performance spread in isolation would result in a lower or higher fair value measurement, respectively. Generally, a change in any one unobservable input would not directly result in a change in any other unobservable input. Also refer to Management's Estimates in Note A - Business and Summary of Significant Accounting Policies regarding certain assumption updates.

The fair value of the reinsurance-related embedded derivatives in the funds withheld reinsurance agreements are estimated based upon the fair value of the assets supporting the funds withheld from reinsurance liabilities. The fair value of the assets is based on a quoted market price of similar assets (Level 2), and therefore the fair value of the embedded derivative is based on market-observable inputs and classified as Level 2. See Note E - Reinsurance for further discussion on F&G reinsurance agreements.

Investments in Unconsolidated affiliates

We have elected the fair value option for certain investments in unconsolidated affiliates as we believe this better aligns them with other investments in unconsolidated affiliates that are measured using NAV as a practical expedient in determining fair value. Investments measured using the fair value option are included in Level 3 and the fair value of these investments are determined using a multiple of the affiliates’ EBITDA, which is derived from market analysis of transactions involving comparable companies. The EBITDA used in this calculation is based on the affiliates’ financial information. The inputs are usually considered unobservable, as not all market participants have access to this data.

Short-term Investments

The carrying amounts reported in the Consolidated Balance Sheets for these instruments approximate fair value.

Other long-term investments

We hold a fund-linked note that provides for an additional payment at maturity based on the value of an embedded derivative based on the actual return of a dedicated return fund. Fair value of the embedded derivative is based on an unobservable input, the NAV of the fund at the balance sheet date. The embedded derivative is similar to a call option on the NAV of the fund with a strike price of zero since Fidelity & Guaranty Life Insurance Company ("FGL Insurance") will not be required to make any additional payments at maturity of the fund-linked note in order to receive the NAV of the fund on the maturity date. A Black-Scholes model determines the NAV of the fund as the fair value of the call option regardless of the values used for the other inputs to the option pricing model. The NAV of the fund is provided by the fund manager at the end of each calendar month and represents the value an investor would receive if it withdrew its investment on the balance sheet date. Therefore, the key unobservable input used in the Black-Scholes model is the value of the fund. As the value of the fund increases or decreases, the fair value of the embedded derivative will increase or decrease. See further discussion on the available-for-sale embedded derivative in Note F Derivative Financial Instruments.

The fair value of the credit-linked note is based on a weighted average of a broker quote and a discounted cash flow analysis. The discounted cash flow approach is based on the expected portfolio cash flows and amortization schedule reflecting

investment expectations, adjusted for assumptions on the portfolio's default and recovery rates, and the note's discount rate. The fair value of the note is provided by the fund manager at the end of each quarter.

Quantitative information regarding significant unobservable inputs used for recurring Level 3 fair value measurements of financial instruments carried at fair value as of December 31, 2023 and December 31, 2022, excluding assets and liabilities for which significant quantitative unobservable inputs are not developed internally and not readily available to the Company (primarily those valued using broker quotes and certain third-party pricing services) are as follows:


	Fair Value at		Valuation Technique	Unobservable Input(s)	Range (Weighted average)
	December 31, 2023
	(in millions)				December 31, 2023
Assets


Asset-backed securities	$	57	Third-Party Valuation	Discount Rate	5.09% - 6.95% (6.00%)




Corporates	787		Third-Party Valuation	Discount Rate	0.00% - 12.87% (6.91%)

Corporates	8		Discounted Cash Flow	Discount Rate	44.00% - 100.00% (75.20%)

Municipals	32		Third-Party Valuation	Discount Rate	6.25% - 6.25% (6.25%)


Residential mortgage-backed securities	3		Third-Party Valuation	Discount Rate	5.46%-5.46% (5.46%)
Foreign Governments	16		Third-Party Valuation	Discount Rate	6.94% - 7.68% (7.45%)



Investment in unconsolidated affiliates	285		Market Comparable Company Analysis	EBITDA Multiple	4.4x - 31.8x (23.2x)
Preferred securities	1		Discounted Cash Flow	Discount rate	100.00%





Equity securities	7		Discounted Cash Flow	Discount rate	11.50% - 11.50% (11.50%)

Other long-term investments:
Available-for-sale embedded derivative	28		Black Scholes Model	Market Value of Fund	100.00%




Market risk benefits asset	88		Discounted Cash Flow	Mortality	100.00% - 100.00% (100.00%)
				Surrender Rates	0.25% - 10.00% (5.22%)
				Partial Withdrawal Rates	—% - 23.26% (2.50%)
				Non-Performance Spread	0.38% - 1.10% (0.96%)
				GMWB Utilization	50.00% - 60.00% (50.81%)
Total financial assets at fair value (a)	$	1,312
Liabilities








Derivatives:
FIA/ IUL embedded derivatives, included in contractholder funds	$	4,258	Discounted Cash Flow	Market Value of Option	0.00% - 18.93% (2.63%)
				Swap rates	3.84% - 5.26% (4.55%)
				Mortality Multiplier	100.00% - 100.00% (100.00%)
				Surrender Rates	0.25% - 70.00% (6.83%)
				Partial Withdrawals	2.00% - 34.48% (2.74%)
				Non-Performance Spread	0.38% - 1.10% (0.96%)
				Option cost	0.07% - 5.48% (2.38%)


Market risk benefits liability	403		Discounted Cash Flow	Mortality	100.00% - 100.00% (100.00%)
				Surrender Rates	0.25% - 10.00% (5.22%)
				Partial Withdrawal Rates	—% - 23.26% (2.50%)
				Non-Performance Spread	0.38% - 1.10% (0.96%)
				GMWB Utilization	50.00% - 60.00% (50.81%)
Total financial liabilities at fair value	$	4,661

(a) Excludes $$8,365 million of assets for which significant quantitative unobservable inputs are not developed internally and not readily available to the Company (primarily those valued using broker quotes and certain third-party pricing services)



	Fair Value at		Valuation Technique	Unobservable Input(s)	Range (Weighted average)
	December 31, 2022
	(In millions)				December 31, 2022
Assets

Asset-backed securities	$	91	Third-Party Valuation	Discount Rate	5.23% - 8.98% (6.07%)




Corporates	796		Third-Party Valuation	Discount Rate	4.75% - 12.45% (7.22%)
Corporates	12		Discounted Cash Flow	Discount Rate	44.00% - 100.00% (77.02%)
Municipals	29		Third-Party Evaluation	Discount Rate	7.62% - 7.62% (7.62%)

Foreign governments	16		Third-Party Evaluation	Discount Rate	5.99% - 6.28% (6.19%)
Investment in unconsolidated affiliates	23		Market Comparable Company Analysis	EBITDA multiple	5x-5.50x
Preferred Securities	1		Discounted Cash Flow	Discount rate	100.00%





Equity securities	4		Discounted Cash Flow	Discount Rate	11.10% - 11.10% (11.10%)

Other long-term investments:
Available-for-sale embedded derivative	23		Black Scholes model	Market value of fund	100.00%


Market risk benefits asset	117		Discounted Cash Flow	Mortality	100.00% - 100.00% (100.00%)
				Surrender Rates	0.25% - 10.00% (4.69%)
				Partial Withdrawal Rates	2.00% - 21.74% (2.49%)
				Non-Performance Spread	0.48% - 1.44% (1.30%)
				GMWB Utilization	50.00% - 60.00% (50.94%)
Total financial assets at fair value (a)	$	1,112
Liabilities
Derivatives:
FIA/ IUL embedded derivatives, included in contractholder funds	$	3,115	Discounted cash flow	Market value of option	0.00% - 23.90% (0.87%)
				Swap rates	3.88% - 4.73% (4.31%)
				Mortality multiplier	100.00% - 100.00% (100.00%)
				Surrender rates	0.25% - 70.00% (6.57%)
				Partial withdrawals	2.00% - 29.41% (2.73%)
				Non-performance spread	0.48% - 1.44% (1.30%)
				Option cost	0.07% - 4.97% (1.89%)
Market risk benefits liability	282		Discounted Cash Flow	Mortality	100.00% - 100.00% (100.00%)
				Surrender rates	0.25% - 10.00% (4.69%)
				Partial withdrawal rates	2.00% - 21.74% (2.49%)
				Non-performance spread	0.48% - 1.44% (1.30%)
				GMWB utilization	50.00% - 60.00% (50.94%)


Total financial liabilities at fair value	$	3,397

(a) Excludes $7,174 million of assets for which significant quantitative unobservable inputs are not developed internally and not readily available to the Company (primarily those valued using broker quotes and certain third-party pricing services)

The following tables summarize changes to the Company’s financial instruments carried at fair value and classified within Level 3 of the fair value hierarchy for the years ended December 31, 2023 and December 31, 2022, respectively. The gains and losses below may include changes in fair value due in part to observable inputs that are a component of the valuation methodology.


	Year ended December 31, 2023
	(in millions)
	Balance at Beginning of Period			Total Gains (Losses)					Purchases		Sales		Settlements		Net transfer In (Out) of Level 3 (a)		Balance at End of Period		Change in Unrealized Incl in OCI
			Included in Earnings			Included in AOCI
Assets
Fixed maturity securities available-for-sale:
Asset-backed securities	$	6,263		$	(53)		$	186	$	1,830	$	(125)	$	(738)	$	(241)	$	7,122	$	185
Commercial mortgage-backed securities	37			—			2		22		—		—		(43)		18		2
Corporates	1,440			(2)			(21)		654		(1)		(94)		3		1,979		(20)
Hybrids	—			—			—		—		—		—		—		—		—
Municipals	29			—			20		—		—		—		—		49		20
Residential mortgage-backed securities	302			1			7		32		—		(9)		(330)		3		7
Foreign Governments	16			—			—		—		—		—		—		16		—
Investment in unconsolidated affiliates	23			13			—		249		—		—		—		285		—
Short-term	—			—			—		204		(19)		(185)		—		—		—
Derivative instruments	—			57			—		—		—		—		—		57		—
Preferred securities	1			—			—		—		—		—		7		8		1
Equity securities	10			1			1		—		—		—		3		15		—
Other long-term assets:

Available-for-sale embedded derivative	23			—			4		—		—		—		—		27		4


Credit linked note	15			—			—		—		—		(5)		—		10		—


Secured borrowing receivable	10			—			—		—		—		(10)		—		—		—
Subtotal Level 3 assets at fair value	$	8,169		$	17		$	199	$	2,991	$	(145)	$	(1,041)	$	(601)	$	9,589	$	199
Market risk benefits asset	$	117															$	88
Total Level 3 assets at fair value	$	8,286															$	9,677
Liabilities

FIA/ IUL embedded derivatives, included in contractholder funds	3,115			257			—		1,049		—		(163)		—		4,258		—

Subtotal Level 3 liabilities at fair value	$	3,115		$	257		$	—	$	1,049	$	—	$	(163)	$	—	$	4,258	$	—
Market Risk benefits liability	$	282															$	403
Total Level 3 liabilities at fair value	$	3,397															$	4,661



	Year ended December 31, 2022
	Balance at Beginning of Period		Total Gains (Losses)				Purchases		Sales		Settlements		Net transfer In (Out) of Level 3 (a)		Balance at End of Period		Change in Unrealized Incl in OCI
			Included in Earnings		Included in AOCI
Assets
Fixed maturity securities available-for-sale:
Asset-backed securities	$	3,959	$	(6)	$	(393)	$	3,269	$	(39)	$	(541)	$	14	$	6,263	$	(426)
Commercial mortgage-backed securities	35		—		(5)		—		—		—		7		37		(4)
Corporates	1,135		1		(187)		714		(20)		(215)		12		1,440		(188)
Hybrids	—		—		—		—		—		—		—		—		—
Municipals	43		—		(14)		—		—		—		—		29		(13)
Residential mortgage-backed securities	—		—		—		316		—		—		(14)		302		—
Foreign Governments	18		—		(2)		—		—		—		—		16		(1)
Investment in unconsolidated affiliates	21		—		2		—		—		—		—		23		2
Short-term	321		—		(1)		20		—		—		(340)		—		(1)
Preferred securities	2		—		(1)		—		—		—		—		1		(1)
Equity securities	9		—		—		2		(1)		—		—		10		—
Other long-term assets:

Available-for-sale embedded derivative	34		(11)		—		—		—		—		—		23		—

Secured borrowing receivable	—		—		—		—		—		—		10		10		—
Credit linked note	23		(1)		(1)		—		(2)		(4)		—		15		—
Subtotal Level 3 assets at fair value	$	5,600	$	(17)	$	(602)	$	4,321	$	(62)	$	(760)	$	(311)	$	8,169	$	(632)
Market risk benefits asset	$	41													$	117
Total Level 3 assets at fair value	$	5,641													$	8,286
Liabilities

FIA embedded derivatives, included in contractholder funds	3,883		(1,382)		—		768		—		(154)		—		3,115		—
Subtotal Total liabilities at Level 3 fair value	$	3,883	$	(1,382)	$	—	$	768	$	—	$	(154)	$	—	$	3,115	$	—
Market risk benefits liability	$	469													$	282
Total Level 3 liabilities at fair value	$	4,352													$	3,397

(a) The net transfers out of Level 3 during the year ended December 31, 2022, were to Level 2.

Valuation Methodologies and Associated Inputs for Financial Instruments Not Carried at Fair Value

The following discussion outlines the methodologies and assumptions used to determine the fair value of our financial instruments not carried at fair value. Considerable judgment is required to develop these assumptions used to measure fair value. Accordingly, the estimates shown are not necessarily indicative of the amounts that would be realized in a one-time, current market exchange of all of our financial instruments.

Mortgage Loans

The fair value of mortgage loans is established using a discounted cash flow method based on internal credit rating, maturity and future income. This yield-based approach is sourced from our third-party vendor. The internal ratings for mortgages in good standing are based on property type, location, market conditions, occupancy, debt service coverage, loan-to-value, quality of tenancy, borrower, and payment record. The inputs used to measure the fair value of our mortgage loans are classified as Level 3 within the fair value hierarchy.

Investments in Unconsolidated affiliates

In our F&G segment, the fair value of Investments in unconsolidated affiliates is determined using NAV as a practical expedient and are included in the NAV column in the table below. In our Title segment, Investments in unconsolidated affiliates are accounted for under the equity method of accounting. In our Title segment, Investments in unconsolidated affiliates were $263 million and $187 million as of December 31, 2023 and December 31, 2022, respectively.

Policy Loans (included within Other long-term investments)

Fair values for policy loans are estimated from a discounted cash flow analysis, using interest rates currently being offered for loans with similar credit risk. Loans with similar characteristics are aggregated for purposes of the calculations, policy loans are classified as Level 3 in the fair value hierarchy.

Company Owned Life Insurance

Company owned life insurance ("COLI") is a life insurance program used to finance certain employee benefit expenses. The fair value of COLI is based on net realizable value, which is generally cash surrender value. COLI is classified as Level 3 within the fair value hierarchy.

Other Invested Assets (included within Other long-term investments)

The fair value of the bank loan is estimated using a discounted cash flow method with the discount rate based on weighted average cost of capital ("WACC"). This yield-based approach is sourced from a third-party vendor and the WACC establishes a market participant discount rate by determining the hypothetical capital structure for the asset should it be underwritten as of each period end. Other invested assets are classified as Level 3 within the fair value hierarchy.

Investment Contracts

Investment contracts include deferred annuities (FIAs and fixed rate annuities), indexed IULs, funding agreements, PRT solutions and immediate annuity contracts without life contingencies. The FIA/IUL embedded derivatives, included in contractholder funds, are excluded as they are carried at fair value. The fair value of the FIA, fixed rate annuity and IUL contracts is based on their cash surrender value (i.e., the cost the Company would incur to extinguish the liability) as these contracts are generally issued without an annuitization date. The fair value of funding agreements and PRT and immediate annuity contracts without life contingencies is derived by calculating a new fair value interest rate using the updated yield curve and treasury spreads as of the respective reporting date. The Company is not required to, and has not, estimated the fair value of the liabilities under contracts that involve significant mortality or morbidity risks, as these liabilities fall within the definition of insurance contracts that are exceptions from financial instruments that require disclosures of fair value.

Other

Federal Home Loan Bank of Atlanta ("FHLB") common stock, Accounts receivable and Notes receivable are carried at cost, which approximates fair value. The carrying amount of FHLB common stock represents the value it can be sold back to the FHLB and is classified as Level 2 within the hierarchy. Accounts receivable and Notes receivable are classified as Level 3 within the fair value hierarchy.

Debt

The fair value of debt is based on quoted market prices. The inputs used to measure the fair value of our outstanding debt are classified as Level 2 within the fair value hierarchy. The carrying value of the F&G Credit Facility at December 31, 2023, approximates fair value as the rates are comparable to those at which we could currently borrow under similar terms. As such, the fair value of the revolving credit facility was classified as a Level 2 measurement.

The following tables provide the carrying value and estimated fair value of our financial instruments that are carried on the accompanying Consolidated Balance Sheets at amounts other than fair value, summarized according to the fair value hierarchy previously described.


	December 31, 2023
	(in millions)
	Level 1		Level 2		Level 3		NAV		Total Estimated Fair Value		Carrying Amount
Assets
FHLB common stock	$	—	$	138	$	—	$	—	$	138	$	138
Commercial mortgage loans	—		—		2,253		—		2,253		2,538
Residential mortgage loans	—		—		2,545		—		2,545		2,798
Investments in unconsolidated affiliates	—		—		7		2,779		2,786		2,786
Policy loans	—		—		71		—		71		71
Other invested assets	17		—		—		42		59		59
Company-owned life insurance	—		—		397		—		397		397

Trade and notes receivables, net of allowance	—		—		442		—		442		442
Total	$	17	$	138	$	5,715	$	2,821	$	8,691	$	9,229

Liabilities
Investment contracts, included in contractholder funds	$	—	$	—	$	40,229	$	—	$	40,229	$	44,540
Debt	—		3,568		—		—		3,568		3,887

Total	$	—	$	3,568	$	40,229	$	—	$	43,797	$	48,427



	December 31, 2022
	(in millions)
	Level 1		Level 2		Level 3		NAV		Total Estimated Fair Value		Carrying Amount
Assets
FHLB common stock	$	—	$	99	$	—	$	—	$	99	$	99
Commercial mortgage loans	—		—		2,083		—		2,083		2,406
Residential mortgage loans	—		—		1,892		—		1,892		2,148
Investments in unconsolidated affiliates	—		—		5		2,427		2,432		2,432
Policy loans	—		—		52		—		52		52
Other invested assets	93		—		16		—		109		109
Company-owned life insurance	—		—		363		—		363		363
Trade and notes receivables, net of allowance	—		—		467		—		467		467
Total	$	93	$	99	$	4,878	$	2,427	$	7,497	$	8,076

Liabilities
Investment contracts, included in contractholder funds	$	—	$	—	$	34,464	$	—	$	34,464	$	38,412
Debt	—		2,776		—		—		2,776		3,238
Total	$	—	$	2,776	$	34,464	$	—	$	37,240	$	41,650

For investments for which NAV is used, we do not have any significant restrictions in our ability to liquidate our positions in these investments, other than obtaining general partner approval, nor do we believe it is probable a price less than NAV would be received in the event of a liquidation.

We review the fair value hierarchy classifications each reporting period. Changes in the observability of the valuation attributes may result in a reclassification of certain financial assets or liabilities. Such reclassifications are reported as transfers in and out of Level 3, or between other levels, at the beginning fair value for the reporting period in which the changes occur. The transfers into and out of Level 3 were related to changes in the primary pricing source and changes in the observability of external information used in determining the fair value.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Business and Summary of Significant Accounting Policies - Earnings Per Share (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Antidilutive securities excluded from computation of EPS, less than, amount (shares)	1,000,000	1,000,000

Schedule III - F&G Supplementary Insurance Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Abstract]
Deferred acquisition costs	$ 2,215	$ 1,411	$ 784
Future policy benefits, losses, claims and loss expenses	7,050	5,021	4,918
Other policy claims and benefits payable	92	109	109
Life insurance premiums and other fees	2,413	1,704	1,407
Interest and investment income	2,211	1,655	1,852
Benefits, claims, losses and settlement expenses	(3,553)	(1,126)	(1,932)
Amortization of deferred policy acquisition costs	(191)	(99)	(46)
Other operating expenses, net of deferrals	$ (146)	$ (102)	$ (105)

F&G Reinsurance

12 Months Ended

Dec. 31, 2023

Reinsurance Disclosures [Abstract]

F&G Reinsurance

The Company reinsures portions of its policy risks with other insurance companies. The use of indemnity reinsurance does not discharge an insurer from liability on the insurance ceded. The insurer is required to pay in full the amount of its insurance liability regardless of whether it is entitled to or able to receive payment from the reinsurer. The portion of risks exceeding the Company's retention limit is reinsured. The Company primarily seeks reinsurance coverage in order to manage loss exposures, to enhance our capital position, to diversify risks and earnings, and to manage new business volume. The Company follows reinsurance accounting when the treaty adequately transfers insurance risk. Otherwise, the Company follows deposit accounting if there is inadequate transfer of insurance risk or if the underlying policy for which risk is being transferred is an investment contract that does not contain insurance risk. Refer to Note A - Business and Summary of Significant Accounting Policies for more information over our accounting policy for reinsurance agreements.


	Year Ended December 31,
	2023				2022				2021
	Net Premiums Earned		Net Benefits Incurred		Net Premiums Earned		Net Benefits Incurred		Net Premiums Earned		Net Benefits Incurred
Direct	$	2,112	$	3,728	$	1,522	$	3,640	$	1,314	$	3,070

Ceded	(105)		(175)		(128)		(2,514)		(137)		(1,138)
Net	$	2,007	$	3,553	$	1,394	$	1,126	$	1,177	$	1,932

Amounts payable or recoverable for reinsurance on paid and unpaid claims are not subject to periodic or maximum limits. No policies issued by the Company have been reinsured with any foreign company, which is controlled, either directly or

indirectly, by a party not primarily engaged in the business of insurance. The Company has not entered into any reinsurance agreements in which the reinsurer may unilaterally cancel any reinsurance for reasons other than non-payment of premiums or other similar credit issues.

The following summarizes our reinsurance recoverable (in millions):

Parent Company/
Principal Reinsurers

Reinsurance Recoverable (a)

Agreement Type

Products
Covered

Accounting

December 31, 2023

December 31, 2022

Aspida Life Re Ltd

6,128

3,121

Coinsurance Funds Withheld

Certain MYGA (b)

Deposit

Wilton Reassurance Company

1,092

1,231

Coinsurance

Block of traditional, IUL and UL (c)

Reinsurance

Somerset Reinsurance Ltd

716

570

Coinsurance Funds Withheld

Certain MYGA (b) and DA

Deposit

Everlake Life Insurance Company

509

—

Coinsurance (d)

Certain MYGA (b) (d)

Deposit

Other (e)

536

505

Reinsurance recoverable, gross of allowance for credit losses

8,981

5,427

Allowance for expected credit loss

(21)

(10)

Reinsurance recoverable, net of allowance for credit losses

8,960

5,417

(a) Reinsurance recoverables do not include unearned ceded premiums that would be recovered in the event of early termination of certain traditional life policies.

(b) As of the years ended December 31, 2023 and 2022, the combined quota share flow reinsurance amongst all reinsurers was 90% and 75%, respectively.

(c) Also includes certain FGL Insurance life insurance policies that are subject to redundant reserves, reported on a statutory basis, under Regulation XXX and Guideline AXXX.

(d) Reinsurance recoverable is collateralized by assets placed in a statutory comfort trust by the reinsurer and maintained for our sole benefit.

(e) Represents all other reinsurers, with no single reinsurer having a carrying value in excess of 5% of total reinsurance recoverable.

The Company incurred risk charge fees of $39 million, $36 million, and $28 million during the years ended December 31, 2023, 2022, and 2021, respectively, in relation to reinsurance agreements.

Credit Losses

The Company estimates expected credit losses on reinsurance recoverables using a probability of default/loss given default model. Significant inputs to the model include the reinsurer's credit risk, expected timing of recovery, industry-wide historical default experience, senior unsecured bond recovery rates, and credit enhancement features.

The expected credit loss reserves were as follows (in millions):


	Years ended
	December 31, 2023		December 31, 2022
Balance at Beginning of Period	$	(10)	$	(20)
Provision for losses	(11)		10
Charge offs	—		—
Balance at End of Period	$	(21)	$	(10)

Concentration of Reinsurance Risk

As indicated above, the Company has a significant concentration of reinsurance risk with third party reinsurers, Aspida Re, Wilton Reinsurance (“Wilton Re”), Somerset and Everlake Life Insurance Company (“Everlake”) that could have a material impact on our financial position in the event that any of these reinsurers fails to perform its obligations under the various reinsurance treaties. We monitor the financial condition and financial strength of individual reinsurers using public ratings (refer to table below) and ratings reports of individual reinsurers to attempt to reduce the risk of default by such reinsurers. In addition, the risk of non-performance is further mitigated with various forms of collateral or collateral arrangements, including secured trusts, funds withheld accounts and irrevocable letters of credit. We believe that all amounts due from Aspida Re, Wilton Re, Somerset and Everlake for periodic treaty settlements, net of any applicable credit loss reserves, are collectible as of December 31, 2023. The following table presents financial strength ratings as of December 31, 2023:

Parent Company/Principal Reinsurers

Financial Strength Rating

AM Best

S&P

Fitch

Moody's

Aspida Life Re Ltd

A-

not rated

Wilton Re

A+

not rated

Somerset Reinsurance Ltd

A-

BBB+

not rated

Everlake

A+

not rated

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment


Property and equipment consist of the following:
	December 31,
	2023		2022
	(In millions)
Furniture, fixtures and equipment	$	163	$	235
Data processing equipment	145		212
Leasehold improvements	121		118
Buildings	95		84
Land	14		14
Other	6		7
Total property and equipment, gross	544		670
Accumulated depreciation and amortization	(376)		(491)
Total property and equipment, net	$	168	$	179

Future Policy Benefits - Liability For Future Policy Benefit Expected Future Policy Benefit Undiscounted (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Liability For Future Policy Benefit, Expected Future Policy Benefit, Discounted [Abstract]
Expected future benefit payments		$ 2,640
Expected future gross premiums		1,043
Traditional Life
Liability for Future Policy Benefit, Expected Future Policy Benefit, Undiscounted [Abstract]
Expected future benefit payments	$ 2,935	3,132
Expected future gross premiums	1,082	1,209
Liability For Future Policy Benefit, Expected Future Policy Benefit, Discounted [Abstract]
Expected future benefit payments	2,075
Expected future gross premiums	789
Immediate Annuities
Liability for Future Policy Benefit, Expected Future Policy Benefit, Undiscounted [Abstract]
Expected future benefit payments	3,291	3,434
Expected future gross premiums	0	0
Liability For Future Policy Benefit, Expected Future Policy Benefit, Discounted [Abstract]
Expected future benefit payments	1,413	1,858
Expected future gross premiums	0	0
PRT
Liability for Future Policy Benefit, Expected Future Policy Benefit, Undiscounted [Abstract]
Expected future benefit payments	6,709	3,569
Expected future gross premiums	0	0
Liability For Future Policy Benefit, Expected Future Policy Benefit, Discounted [Abstract]
Expected future benefit payments	4,350	2,472
Expected future gross premiums	$ 0	$ 0

Derivative Financial Instruments - Carrying Amounts of Derivative Instruments (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Derivative [Line Items]
Total asset derivatives	$ 977	$ 546
Total liability derivatives	4,258	3,115
Call options \| Derivative investments
Derivative [Line Items]
Total asset derivatives	739	244
Interest rate swaps \| Derivative investments
Derivative [Line Items]
Total asset derivatives	57	0
Foreign currency forwards
Derivative [Line Items]
Total asset derivatives	1	0
Other embedded derivatives \| Other long-term investments
Derivative [Line Items]
Total asset derivatives	28	23
Reinsurance related embedded derivatives \| Prepaid expenses and other assets
Derivative [Line Items]
Total asset derivatives	152	279
FIA/ IUL embedded derivatives \| Contractholder funds
Derivative [Line Items]
Total liability derivatives	$ 4,258	$ 3,115

Schedule II - Condensed Financial Information

12 Months Ended

Dec. 31, 2023

Condensed Financial Information Disclosure [Abstract]

Schedule II - Condensed Financial Information

SCHEDULE II

FIDELITY NATIONAL FINANCIAL, INC.

(Parent Company)

BALANCE SHEETS


	December 31,
	2023		2022
	(In millions, except share data)
ASSETS
Cash	$	397	$	406
Short-term investments	487		532
Other long-term investments	—		36
Equity securities, at fair value	—		1
Investment in unconsolidated affiliates	3		3
Notes receivable	268		303
Investments in and amounts due from subsidiaries	7,949		7,290
Property and equipment, net	3		2
Prepaid expenses and other assets	318		244



Total assets	$	9,425	$	8,817
LIABILITIES AND EQUITY
Liabilities:
Accounts payable and other accrued liabilities	$	358	$	291
Income taxes payable	—		—
Deferred tax liability	29		71
Notes payable	2,126		2,123
Total liabilities	2,513		2,485
Equity:

FNF common stock, $0.0001 par value; authorized 600,000,000 shares as of December 31, 2023 and December 31, 2022; outstanding of 273,366,235 and 279,064,457 as of December 31, 2023 and December 31, 2022, respectively, and issued of 329,185,916 and 327,757,349 as of December 31, 2023 and December 31, 2022, respectively	—		—

Preferred stock, $0.0001 par value; authorized 50,000,000 shares; issued and outstanding, none	—		—
Additional paid-in capital	5,913		5,870
Retained earnings	5,244		5,225
Accumulated other comprehensive earnings	(2,119)		(2,870)
Less: Treasury stock, 55,819,681 shares and 48,692,892 shares as of December 31, 2023 and December 31, 2022, respectively, at cost	(2,126)		(1,893)
Total equity of Fidelity National Financial, Inc. common shareholders	6,912		6,332


Total liabilities and equity	$	9,425	$	8,817

SCHEDULE II

FIDELITY NATIONAL FINANCIAL, INC.

(Parent Company)

STATEMENTS OF EARNINGS AND RETAINED EARNINGS


	Year Ended December 31,
	2023		2022		2021
	(In millions, except per share data)
Revenues:
Other fees and revenue	$	33	$	(37)	$	24
Interest and investment income and realized gains	74		43		17
Recognized gains and losses, net	(31)		(42)		12
Total revenues	76		(36)		53
Expenses:
Personnel expenses	70		(11)		54
Other operating expenses	47		15		25
Interest expense	77		92		87
Total expenses	194		96		166
Losses before income tax benefit and equity in earnings of subsidiaries	(118)		(132)		(113)
Income tax benefit	(29)		(33)		(27)
Losses before equity in earnings of subsidiaries	(89)		(99)		(86)
Equity in earnings of subsidiaries	606		1,393		2,875
Earnings from continuing operations	517		1,294		2,789
Equity in earnings of discontinued operations	—		—		8
Net earnings attributable to Fidelity National Financial, Inc. common shareholders	$	517	$	1,294	$	2,797

Retained earnings, beginning of year	$	5,225	$	4,818	$	2,468
Dividends declared	(498)		(490)		(447)
Distribution of F&G to FNF common shareholders	—		(397)		—



Net earnings attributable to Fidelity National Financial, Inc. common shareholders	517		1,294		2,797
Retained earnings, end of year	$	5,244	$	5,225	$	4,818

SCHEDULE II

FIDELITY NATIONAL FINANCIAL, INC.

(Parent Company)

STATEMENTS OF CASH FLOWS


	Year Ended December 31,
	2023		2022		2021
	(In millions)
Cash Flows From Operating Activities:
Net earnings	$	517	$	1,294	$	2,797
Adjustments to reconcile net earnings to net cash provided by operating activities:
Equity in earnings of unconsolidated affiliates	—		—		(6)


Equity in earnings of subsidiaries	(606)		(1,393)		(2,875)
Depreciation and amortization	1		1		1
Stock-based compensation	57		48		43

Net change in income taxes	(262)		748		65
Net (increase) decrease in prepaid expenses and other assets	(72)		41		(14)
Net increase in accounts payable and other accrued liabilities	70		(51)		36
Net cash (used in) provided by operating activities	(295)		688		47
Cash Flows From Investing Activities:
Purchases of investments available for sale	—		—		(52)
Net purchases of short-term investment activities	82		(509)		(6)

Additions to notes receivable	(12)		(87)		(400)
Collection of notes receivable	47		79		120



Net cash provided by (used in) investing activities	117		(517)		(338)
Cash Flows From Financing Activities:

Borrowings	—		—		449
Debt service payments	—		(400)		—

Debt issuance costs	—		—		(6)
Dividends paid	(500)		(489)		(446)
Purchases of treasury stock	(6)		(553)		(463)
Exercise of stock options	15		39		48
Payment for shares withheld for taxes and in treasury	(17)		(15)		(17)

Additional investments in non-controlling interests	(12)		(2)		—


Net dividends from subsidiaries	689		140		1,266
Net cash provided by (used in) financing activities	169		(1,280)		831
Net change in cash and cash equivalents	(9)		(1,109)		540
Cash at beginning of year	406		1,515		975
Cash at end of year	$	397	$	406	$	1,515
See Notes to Financial Statements

SCHEDULE II

FIDELITY NATIONAL FINANCIAL, INC.

(Parent Company)

NOTES TO FINANCIAL STATEMENTS

A. Summary of Significant Accounting Policies

Fidelity National Financial, Inc. transacts substantially all of its business through its subsidiaries. The Parent Company Financial Statements should be read in connection with the aforementioned Consolidated Financial Statements and Notes thereto included elsewhere herein.

B. Notes Payable

Notes payable consist of the following:


	December 31,
	2023		2022
	(In millions)
4.50% Notes, net of discount	$	446	$	445

3.40% Notes, net of discount	644		644
2.45% Notes, net of discount	594		594
3.20% Notes, net of discount	444		443
Revolving credit facility	(2)		(3)

	$	2,126	$	2,123

C. Supplemental Cash Flow Information


	Year Ended December 31,
	2023		2022		2021
	(In millions)
Cash paid during the year:
Interest paid	$	73	$	95	$	81
Income tax payments	213		459		609

D. Cash Dividends Received

We have received cash dividends from subsidiaries and affiliates of $0.4 billion, $0.8 billion, and $0.6 billion during the years ended December 31, 2023, 2022, and 2021, respectively.

E. Subsequent Events

Amendment to our Revolving Credit Facility

Investment of $250 million in F&G

On January 12, 2024, we completed a $250 million preferred stock investment in F&G. F&G will use the net proceeds from the investment to support growth of its assets under management.

Stock will be no more than 1.1111 shares of common stock and no less than 0.9456 shares of common stock per share of Mandatory Convertible Preferred Stock, depending on the value of F&G's common stock.

F& G Reinsurance - Summary of Reinsurance Recoverable (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Effects of Reinsurance [Line Items]
Allowance for expected credit loss	$ (21)	$ (10)	$ (20)
Reinsurance recoverable, net of allowance for credit losses	8,977	5,418
F&G
Effects of Reinsurance [Line Items]
Reinsurance recoverable, gross of allowance for credit losses	8,981	5,427
Allowance for expected credit loss	(21)	(10)
Reinsurance recoverable, net of allowance for credit losses	$ 8,960	$ 5,417
Reinsurance, quota share flow percentage	90.00%	75.00%
Other \| F&G
Effects of Reinsurance [Line Items]
Reinsurance recoverable, gross of allowance for credit losses	$ 536	$ 505
Certain MYGA \| Aspida Life Re Ltd \| F&G
Effects of Reinsurance [Line Items]
Reinsurance recoverable, gross of allowance for credit losses	6,128	3,121
Certain MYGA \| Everlake Life Insurance Company \| F&G
Effects of Reinsurance [Line Items]
Reinsurance recoverable, gross of allowance for credit losses	509	0
Block of traditional, IUL and UL \| Wilton Re \| F&G
Effects of Reinsurance [Line Items]
Reinsurance recoverable, gross of allowance for credit losses	1,092	1,231
Certain MYGA and DA \| Somerset Reinsurance Ltd \| F&G
Effects of Reinsurance [Line Items]
Reinsurance recoverable, gross of allowance for credit losses	$ 716	$ 570

Investments - Schedule of Residential Loans Segregated by Risk Rating Exposure and Non-accrual Loans by Amortized Cost (Details) - Residential Mortgage - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Credit Quality Indicator Current Year [Abstract]
2023	$ 373	$ 771
2022	995	900
2021	877	229
2020	208	223
2019	204	24
Prior	195	33
Total	2,852	2,180
Credit Quality Indicator Prior Year [Abstract]
2022	373	771
2021	995	900
2020	877	229
2019	208	223
2018	204	24
Prior	195	33
Total	2,852	2,180
Current (less than 30 days past due)
Credit Quality Indicator Current Year [Abstract]
2023	373	766
2022	985	884
2021	854	214
2020	192	185
2019	183	23
Prior	192	33
Total	2,779	2,105
Credit Quality Indicator Prior Year [Abstract]
2022	373	766
2021	985	884
2020	854	214
2019	192	185
2018	183	23
Prior	192	33
Total	2,779	2,105
30-89 days past due
Credit Quality Indicator Current Year [Abstract]
2023	0	2
2022	4	7
2021	7	0
2020	3	4
2019	0	0
Prior	2	0
Total	16	13
Credit Quality Indicator Prior Year [Abstract]
2022	0	2
2021	4	7
2020	7	0
2019	3	4
2018	0	0
Prior	2	0
Total	16	13
90 days or more past due
Credit Quality Indicator Current Year [Abstract]
2023	0	3
2022	6	9
2021	16	15
2020	13	34
2019	21	1
Prior	1	0
Total	57	62
Credit Quality Indicator Prior Year [Abstract]
2022	0	3
2021	6	9
2020	16	15
2019	13	34
2018	21	1
Prior	1	0
Total	$ 57	$ 62

Dividends (Details) - $ / shares		12 Months Ended
Dividends (Details) - $ / shares	Feb. 14, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Subsequent Event [Line Items]
Cash dividend per common share (in dollars per share)		$ 1.83	$ 1.77	$ 1.56
Subsequent Event
Subsequent Event [Line Items]
Cash dividend per common share (in dollars per share)	$ 0.48

Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Carrying Amounts of Assets and Liabilities and Estimated at Fair Value on Recurring Basis


	December 31, 2023
	Level 1		Level 2		Level 3		NAV		Fair Value
Assets	(In millions)
Cash and cash equivalents	$	2,767	$	—	$	—	$	—	$	2,767
Fixed maturity securities, available-for-sale:
Asset-backed securities	—		7,220		7,122		—		14,342
Commercial mortgage-backed securities	—		4,457		18		—		4,475
Corporates	25		15,892		1,979		—		17,896
Hybrids	95		523		—		—		618
Municipals	—		1,562		49		—		1,611
Residential mortgage-backed securities	—		2,426		3		—		2,429
U.S. Government	662		16		—		—		678
Foreign Governments	—		308		16		—		324
Equity securities	692		—		15		59		766
Preferred securities	214		399		8		—		621

Derivative investments	—		740		57		—		797
Investments in unconsolidated affiliates	—		—		285		—		285
Short term investments	2,111		8		—		—		2,119
Reinsurance related embedded derivative, included in other assets	—		152		—		—		152
Other long-term investments	—		—		37		—		37

Market risk benefits asset	—		—		88		—		88
Total financial assets at fair value	$	6,566	$	33,703	$	9,677	$	59	$	50,005
Liabilities

Derivatives:
FIA/ IUL embedded derivatives, included in contractholder funds	—		—		4,258		—		4,258
Market risk benefits liability	—		—		403		—		403

Derivative instruments - futures contracts	1		—		—				1

Total financial liabilities at fair value	$	1	$	—	$	4,661	$	—	$	4,662


	December 31, 2022
	Level 1		Level 2		Level 3		NAV		Fair Value
Assets	(In millions)
Cash and cash equivalents	$	2,286	$	—	$	—	$	—	$	2,286
Fixed maturity securities, available-for-sale:
Asset-backed securities	—		5,204		6,263		—		11,467
Commercial mortgage-backed securities	—		3,026		37		—		3,063
Corporates	40		12,857		1,440		—		14,337
Hybrids	93		638		—		—		731
Municipals	—		1,431		29		—		1,460
Residential mortgage-backed securities	—		1,225		302		—		1,527
U.S. Government	260		11		—		—		271
Foreign Governments	—		223		16		—		239



Equity securities	621		—		10		47		678
Preferred securities	320		582		1		—		903

Derivative investments	—		244		—		—		244
Investment in unconsolidated affiliates	—		—		23		—		23
Reinsurance related embedded derivative, included in other assets	—		279		—		—		279
Short term investments	2,590		—		—		—		2,590
Market risk benefits asset	—		—		117		—		117
Other long-term investments	—		—		48		—		48

Total financial assets at fair value	$	6,210	$	25,720	$	8,286	$	47	$	40,263
Liabilities

Derivatives:
FIA/ IUL embedded derivatives, included in contractholder funds	—		—		3,115		—		3,115
Market risk benefits liability	—		—		282		—		282


Total financial liabilities at fair value	$	—	$	—	$	3,397	$	—	$	3,397


	December 31, 2023
	(in millions)
	Level 1		Level 2		Level 3		NAV		Total Estimated Fair Value		Carrying Amount
Assets
FHLB common stock	$	—	$	138	$	—	$	—	$	138	$	138
Commercial mortgage loans	—		—		2,253		—		2,253		2,538
Residential mortgage loans	—		—		2,545		—		2,545		2,798
Investments in unconsolidated affiliates	—		—		7		2,779		2,786		2,786
Policy loans	—		—		71		—		71		71
Other invested assets	17		—		—		42		59		59
Company-owned life insurance	—		—		397		—		397		397

Trade and notes receivables, net of allowance	—		—		442		—		442		442
Total	$	17	$	138	$	5,715	$	2,821	$	8,691	$	9,229

Liabilities
Investment contracts, included in contractholder funds	$	—	$	—	$	40,229	$	—	$	40,229	$	44,540
Debt	—		3,568		—		—		3,568		3,887

Total	$	—	$	3,568	$	40,229	$	—	$	43,797	$	48,427



	December 31, 2022
	(in millions)
	Level 1		Level 2		Level 3		NAV		Total Estimated Fair Value		Carrying Amount
Assets
FHLB common stock	$	—	$	99	$	—	$	—	$	99	$	99
Commercial mortgage loans	—		—		2,083		—		2,083		2,406
Residential mortgage loans	—		—		1,892		—		1,892		2,148
Investments in unconsolidated affiliates	—		—		5		2,427		2,432		2,432
Policy loans	—		—		52		—		52		52
Other invested assets	93		—		16		—		109		109
Company-owned life insurance	—		—		363		—		363		363
Trade and notes receivables, net of allowance	—		—		467		—		467		467
Total	$	93	$	99	$	4,878	$	2,427	$	7,497	$	8,076

Liabilities
Investment contracts, included in contractholder funds	$	—	$	—	$	34,464	$	—	$	34,464	$	38,412
Debt	—		2,776		—		—		2,776		3,238
Total	$	—	$	2,776	$	34,464	$	—	$	37,240	$	41,650

Schedule of Unobservable Inputs Used for Level Three Fair Value Measurements of Financial Instruments on Recurring Basis


	Fair Value at		Valuation Technique	Unobservable Input(s)	Range (Weighted average)
	December 31, 2023
	(in millions)				December 31, 2023
Assets


Asset-backed securities	$	57	Third-Party Valuation	Discount Rate	5.09% - 6.95% (6.00%)




Corporates	787		Third-Party Valuation	Discount Rate	0.00% - 12.87% (6.91%)

Corporates	8		Discounted Cash Flow	Discount Rate	44.00% - 100.00% (75.20%)

Municipals	32		Third-Party Valuation	Discount Rate	6.25% - 6.25% (6.25%)


Residential mortgage-backed securities	3		Third-Party Valuation	Discount Rate	5.46%-5.46% (5.46%)
Foreign Governments	16		Third-Party Valuation	Discount Rate	6.94% - 7.68% (7.45%)



Investment in unconsolidated affiliates	285		Market Comparable Company Analysis	EBITDA Multiple	4.4x - 31.8x (23.2x)
Preferred securities	1		Discounted Cash Flow	Discount rate	100.00%





Equity securities	7		Discounted Cash Flow	Discount rate	11.50% - 11.50% (11.50%)

Other long-term investments:
Available-for-sale embedded derivative	28		Black Scholes Model	Market Value of Fund	100.00%




Market risk benefits asset	88		Discounted Cash Flow	Mortality	100.00% - 100.00% (100.00%)
				Surrender Rates	0.25% - 10.00% (5.22%)
				Partial Withdrawal Rates	—% - 23.26% (2.50%)
				Non-Performance Spread	0.38% - 1.10% (0.96%)
				GMWB Utilization	50.00% - 60.00% (50.81%)
Total financial assets at fair value (a)	$	1,312
Liabilities








Derivatives:
FIA/ IUL embedded derivatives, included in contractholder funds	$	4,258	Discounted Cash Flow	Market Value of Option	0.00% - 18.93% (2.63%)
				Swap rates	3.84% - 5.26% (4.55%)
				Mortality Multiplier	100.00% - 100.00% (100.00%)
				Surrender Rates	0.25% - 70.00% (6.83%)
				Partial Withdrawals	2.00% - 34.48% (2.74%)
				Non-Performance Spread	0.38% - 1.10% (0.96%)
				Option cost	0.07% - 5.48% (2.38%)


Market risk benefits liability	403		Discounted Cash Flow	Mortality	100.00% - 100.00% (100.00%)
				Surrender Rates	0.25% - 10.00% (5.22%)
				Partial Withdrawal Rates	—% - 23.26% (2.50%)
				Non-Performance Spread	0.38% - 1.10% (0.96%)
				GMWB Utilization	50.00% - 60.00% (50.81%)
Total financial liabilities at fair value	$	4,661



	Fair Value at		Valuation Technique	Unobservable Input(s)	Range (Weighted average)
	December 31, 2022
	(In millions)				December 31, 2022
Assets

Asset-backed securities	$	91	Third-Party Valuation	Discount Rate	5.23% - 8.98% (6.07%)




Corporates	796		Third-Party Valuation	Discount Rate	4.75% - 12.45% (7.22%)
Corporates	12		Discounted Cash Flow	Discount Rate	44.00% - 100.00% (77.02%)
Municipals	29		Third-Party Evaluation	Discount Rate	7.62% - 7.62% (7.62%)

Foreign governments	16		Third-Party Evaluation	Discount Rate	5.99% - 6.28% (6.19%)
Investment in unconsolidated affiliates	23		Market Comparable Company Analysis	EBITDA multiple	5x-5.50x
Preferred Securities	1		Discounted Cash Flow	Discount rate	100.00%





Equity securities	4		Discounted Cash Flow	Discount Rate	11.10% - 11.10% (11.10%)

Other long-term investments:
Available-for-sale embedded derivative	23		Black Scholes model	Market value of fund	100.00%


Market risk benefits asset	117		Discounted Cash Flow	Mortality	100.00% - 100.00% (100.00%)
				Surrender Rates	0.25% - 10.00% (4.69%)
				Partial Withdrawal Rates	2.00% - 21.74% (2.49%)
				Non-Performance Spread	0.48% - 1.44% (1.30%)
				GMWB Utilization	50.00% - 60.00% (50.94%)
Total financial assets at fair value (a)	$	1,112
Liabilities
Derivatives:
FIA/ IUL embedded derivatives, included in contractholder funds	$	3,115	Discounted cash flow	Market value of option	0.00% - 23.90% (0.87%)
				Swap rates	3.88% - 4.73% (4.31%)
				Mortality multiplier	100.00% - 100.00% (100.00%)
				Surrender rates	0.25% - 70.00% (6.57%)
				Partial withdrawals	2.00% - 29.41% (2.73%)
				Non-performance spread	0.48% - 1.44% (1.30%)
				Option cost	0.07% - 4.97% (1.89%)
Market risk benefits liability	282		Discounted Cash Flow	Mortality	100.00% - 100.00% (100.00%)
				Surrender rates	0.25% - 10.00% (4.69%)
				Partial withdrawal rates	2.00% - 21.74% (2.49%)
				Non-performance spread	0.48% - 1.44% (1.30%)
				GMWB utilization	50.00% - 60.00% (50.94%)


Total financial liabilities at fair value	$	3,397

Changes in Fair Value of Financial Instruments - Assets


	Year ended December 31, 2023
	(in millions)
	Balance at Beginning of Period			Total Gains (Losses)					Purchases		Sales		Settlements		Net transfer In (Out) of Level 3 (a)		Balance at End of Period		Change in Unrealized Incl in OCI
			Included in Earnings			Included in AOCI
Assets
Fixed maturity securities available-for-sale:
Asset-backed securities	$	6,263		$	(53)		$	186	$	1,830	$	(125)	$	(738)	$	(241)	$	7,122	$	185
Commercial mortgage-backed securities	37			—			2		22		—		—		(43)		18		2
Corporates	1,440			(2)			(21)		654		(1)		(94)		3		1,979		(20)
Hybrids	—			—			—		—		—		—		—		—		—
Municipals	29			—			20		—		—		—		—		49		20
Residential mortgage-backed securities	302			1			7		32		—		(9)		(330)		3		7
Foreign Governments	16			—			—		—		—		—		—		16		—
Investment in unconsolidated affiliates	23			13			—		249		—		—		—		285		—
Short-term	—			—			—		204		(19)		(185)		—		—		—
Derivative instruments	—			57			—		—		—		—		—		57		—
Preferred securities	1			—			—		—		—		—		7		8		1
Equity securities	10			1			1		—		—		—		3		15		—
Other long-term assets:

Available-for-sale embedded derivative	23			—			4		—		—		—		—		27		4


Credit linked note	15			—			—		—		—		(5)		—		10		—


Secured borrowing receivable	10			—			—		—		—		(10)		—		—		—
Subtotal Level 3 assets at fair value	$	8,169		$	17		$	199	$	2,991	$	(145)	$	(1,041)	$	(601)	$	9,589	$	199
Market risk benefits asset	$	117															$	88
Total Level 3 assets at fair value	$	8,286															$	9,677
Liabilities

FIA/ IUL embedded derivatives, included in contractholder funds	3,115			257			—		1,049		—		(163)		—		4,258		—

Subtotal Level 3 liabilities at fair value	$	3,115		$	257		$	—	$	1,049	$	—	$	(163)	$	—	$	4,258	$	—
Market Risk benefits liability	$	282															$	403
Total Level 3 liabilities at fair value	$	3,397															$	4,661



	Year ended December 31, 2022
	Balance at Beginning of Period		Total Gains (Losses)				Purchases		Sales		Settlements		Net transfer In (Out) of Level 3 (a)		Balance at End of Period		Change in Unrealized Incl in OCI
			Included in Earnings		Included in AOCI
Assets
Fixed maturity securities available-for-sale:
Asset-backed securities	$	3,959	$	(6)	$	(393)	$	3,269	$	(39)	$	(541)	$	14	$	6,263	$	(426)
Commercial mortgage-backed securities	35		—		(5)		—		—		—		7		37		(4)
Corporates	1,135		1		(187)		714		(20)		(215)		12		1,440		(188)
Hybrids	—		—		—		—		—		—		—		—		—
Municipals	43		—		(14)		—		—		—		—		29		(13)
Residential mortgage-backed securities	—		—		—		316		—		—		(14)		302		—
Foreign Governments	18		—		(2)		—		—		—		—		16		(1)
Investment in unconsolidated affiliates	21		—		2		—		—		—		—		23		2
Short-term	321		—		(1)		20		—		—		(340)		—		(1)
Preferred securities	2		—		(1)		—		—		—		—		1		(1)
Equity securities	9		—		—		2		(1)		—		—		10		—
Other long-term assets:

Available-for-sale embedded derivative	34		(11)		—		—		—		—		—		23		—

Secured borrowing receivable	—		—		—		—		—		—		10		10		—
Credit linked note	23		(1)		(1)		—		(2)		(4)		—		15		—
Subtotal Level 3 assets at fair value	$	5,600	$	(17)	$	(602)	$	4,321	$	(62)	$	(760)	$	(311)	$	8,169	$	(632)
Market risk benefits asset	$	41													$	117
Total Level 3 assets at fair value	$	5,641													$	8,286
Liabilities

FIA embedded derivatives, included in contractholder funds	3,883		(1,382)		—		768		—		(154)		—		3,115		—
Subtotal Total liabilities at Level 3 fair value	$	3,883	$	(1,382)	$	—	$	768	$	—	$	(154)	$	—	$	3,115	$	—
Market risk benefits liability	$	469													$	282
Total Level 3 liabilities at fair value	$	4,352													$	3,397

(a) The net transfers out of Level 3 during the year ended December 31, 2022, were to Level 2.

Changes in Fair Value of Financial Instruments - Liabilities


	Year ended December 31, 2023
	(in millions)
	Balance at Beginning of Period			Total Gains (Losses)					Purchases		Sales		Settlements		Net transfer In (Out) of Level 3 (a)		Balance at End of Period		Change in Unrealized Incl in OCI
			Included in Earnings			Included in AOCI
Assets
Fixed maturity securities available-for-sale:
Asset-backed securities	$	6,263		$	(53)		$	186	$	1,830	$	(125)	$	(738)	$	(241)	$	7,122	$	185
Commercial mortgage-backed securities	37			—			2		22		—		—		(43)		18		2
Corporates	1,440			(2)			(21)		654		(1)		(94)		3		1,979		(20)
Hybrids	—			—			—		—		—		—		—		—		—
Municipals	29			—			20		—		—		—		—		49		20
Residential mortgage-backed securities	302			1			7		32		—		(9)		(330)		3		7
Foreign Governments	16			—			—		—		—		—		—		16		—
Investment in unconsolidated affiliates	23			13			—		249		—		—		—		285		—
Short-term	—			—			—		204		(19)		(185)		—		—		—
Derivative instruments	—			57			—		—		—		—		—		57		—
Preferred securities	1			—			—		—		—		—		7		8		1
Equity securities	10			1			1		—		—		—		3		15		—
Other long-term assets:

Available-for-sale embedded derivative	23			—			4		—		—		—		—		27		4


Credit linked note	15			—			—		—		—		(5)		—		10		—


Secured borrowing receivable	10			—			—		—		—		(10)		—		—		—
Subtotal Level 3 assets at fair value	$	8,169		$	17		$	199	$	2,991	$	(145)	$	(1,041)	$	(601)	$	9,589	$	199
Market risk benefits asset	$	117															$	88
Total Level 3 assets at fair value	$	8,286															$	9,677
Liabilities

FIA/ IUL embedded derivatives, included in contractholder funds	3,115			257			—		1,049		—		(163)		—		4,258		—

Subtotal Level 3 liabilities at fair value	$	3,115		$	257		$	—	$	1,049	$	—	$	(163)	$	—	$	4,258	$	—
Market Risk benefits liability	$	282															$	403
Total Level 3 liabilities at fair value	$	3,397															$	4,661



	Year ended December 31, 2022
	Balance at Beginning of Period		Total Gains (Losses)				Purchases		Sales		Settlements		Net transfer In (Out) of Level 3 (a)		Balance at End of Period		Change in Unrealized Incl in OCI
			Included in Earnings		Included in AOCI
Assets
Fixed maturity securities available-for-sale:
Asset-backed securities	$	3,959	$	(6)	$	(393)	$	3,269	$	(39)	$	(541)	$	14	$	6,263	$	(426)
Commercial mortgage-backed securities	35		—		(5)		—		—		—		7		37		(4)
Corporates	1,135		1		(187)		714		(20)		(215)		12		1,440		(188)
Hybrids	—		—		—		—		—		—		—		—		—
Municipals	43		—		(14)		—		—		—		—		29		(13)
Residential mortgage-backed securities	—		—		—		316		—		—		(14)		302		—
Foreign Governments	18		—		(2)		—		—		—		—		16		(1)
Investment in unconsolidated affiliates	21		—		2		—		—		—		—		23		2
Short-term	321		—		(1)		20		—		—		(340)		—		(1)
Preferred securities	2		—		(1)		—		—		—		—		1		(1)
Equity securities	9		—		—		2		(1)		—		—		10		—
Other long-term assets:

Available-for-sale embedded derivative	34		(11)		—		—		—		—		—		23		—

Secured borrowing receivable	—		—		—		—		—		—		10		10		—
Credit linked note	23		(1)		(1)		—		(2)		(4)		—		15		—
Subtotal Level 3 assets at fair value	$	5,600	$	(17)	$	(602)	$	4,321	$	(62)	$	(760)	$	(311)	$	8,169	$	(632)
Market risk benefits asset	$	41													$	117
Total Level 3 assets at fair value	$	5,641													$	8,286
Liabilities

FIA embedded derivatives, included in contractholder funds	3,883		(1,382)		—		768		—		(154)		—		3,115		—
Subtotal Total liabilities at Level 3 fair value	$	3,883	$	(1,382)	$	—	$	768	$	—	$	(154)	$	—	$	3,115	$	—
Market risk benefits liability	$	469													$	282
Total Level 3 liabilities at fair value	$	4,352													$	3,397

(a) The net transfers out of Level 3 during the year ended December 31, 2022, were to Level 2.

Future Policy Benefits - Summary Balances and Changes in the Present Value of Expected Net Premiums and Present Value (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Effect of changes in cash flow assumptions			$ 0
Future policy benefits	$ 7,050	$ 5,021	4,918
Less: Reinsurance recoverable				$ 1,115
Traditional Life
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Balance, beginning of year	797	1,020	1,152
Beginning balance of original discount rate	974	1,045	1,131
Effect of actual variances from expected experience		(1)	33	25
Balance adjusted for variances from expectation		973	1,078	1,156
Interest accrual	19	20	22
Net premiums collected	(118)	(124)	(133)
Ending Balance at original discount rate	874	974	1,045
Effect of changes in discount rate assumptions	152	177	25
Balance, end of year	722	797	1,020
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance, beginning of year	2,151	2,772	3,105
Beginning balance of original discount rate	2,665	2,806	2,995
Effect of actual variances from expected experience		(24)	13	(14)
Balance adjusted for variances from expectation		2,641	2,819	2,981
Interest accrual	56	59	62
Benefits payments	(205)	(213)	(237)
Ending Balance at original discount rate	2,492	2,665	2,806
Effect of changes in discount rate assumptions	(421)	(514)	(34)
Balance, end of year	2,071	2,151	2,772
Future policy benefits	1,349	1,354	1,752
Less: Reinsurance recoverable	413	612	749	793
Liability for Future Policy Benefit, after Reinsurance, Total	$ 936	$ 742	$ 1,003
Weighted-average duration of liability for future policyholder benefits (years)	7 years 4 months 9 days	7 years 6 months 29 days	8 years 6 months 14 days
PRT
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance, beginning of year	$ 2,165	$ 1,148	$ 0
Beginning balance of original discount rate	2,475	1,151	0
Effect of changes in cash flow assumptions		(9)	(20)
Effect of actual variances from expected experience		(7)	2	0
Balance adjusted for variances from expectation		2,459	1,133	0
Issuances	2,041	1,418	1,155
Interest accrual	109	50	2
Benefits payments	(258)	(126)	(6)
Ending Balance at original discount rate	4,351	2,475	1,151
Effect of changes in discount rate assumptions	(162)	(310)	(3)
Balance, end of year	4,189	2,165	1,148
Future policy benefits	4,189	2,165	1,148
Less: Reinsurance recoverable	0	0	0
Liability for Future Policy Benefit, after Reinsurance, Total	$ 4,189	$ 2,165	$ 1,148
Weighted-average duration of liability for future policyholder benefits (years)	8 years 2 months 23 days	8 years 1 month 2 days	8 years 9 months
Immediate Annuities
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance, beginning of year	$ 1,429	$ 1,954	$ 2,153
Beginning balance of original discount rate	1,858	1,935	2,040
Effect of changes in cash flow assumptions		0	0
Effect of actual variances from expected experience		(15)	(26)	(47)
Balance adjusted for variances from expectation		1,843	1,909	1,993
Issuances	22	26	18
Interest accrual	51	60	60
Benefits payments	(128)	(137)	(136)
Ending Balance at original discount rate	1,788	1,858	1,935
Effect of changes in discount rate assumptions	(373)	(429)	19
Balance, end of year	1,415	1,429	1,954
Future policy benefits	1,415	1,429	1,954
Less: Reinsurance recoverable	116	118	145	$ 322
Liability for Future Policy Benefit, after Reinsurance, Total	$ 1,299	$ 1,311	$ 1,809
Weighted-average duration of liability for future policyholder benefits (years)	12 years 5 months 19 days	11 years 9 months 3 days	13 years 7 months 9 days

Schedule III - F&G Supplementary Insurance Information

12 Months Ended

Dec. 31, 2023

SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Abstract]

Schedule III - F&G Supplementary Insurance Information

Schedule III

FIDELITY NATIONAL FINANCIAL, INC.

F&G Supplementary Insurance Information

(in millions)


	Year Ended
	December 31, 2023		December 31, 2022		December 31, 2021

F&G Segment:
Deferred acquisition costs	$	2,215	$	1,411	$	784
Future policy benefits, losses, claims and loss expenses	7,050		5,021		4,918
Other policy claims and benefits payable	92		109		109
Life insurance premiums and other fees	2,413		1,704		1,407
Interest and investment income	2,211		1,655		1,852
Benefits, claims, losses and settlement expenses	(3,553)		(1,126)		(1,932)
Amortization of deferred policy acquisition costs	(191)		(99)		(46)
Other operating expenses, net of deferrals	(146)		(102)		(105)

Notes Payable - Narrative (Details) - USD ($)								12 Months Ended
Notes Payable - Narrative (Details) - USD ($)	Feb. 21, 2023	Nov. 22, 2022	Sep. 01, 2022	Sep. 17, 2021	Sep. 15, 2020	Jun. 12, 2020	Apr. 20, 2018	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Feb. 16, 2024	Dec. 06, 2023	Jan. 13, 2023	Jun. 01, 2020	Apr. 22, 2020	May 16, 2019	Aug. 13, 2018
Debt Instrument [Line Items]
Outstanding principal								$ 3,916,000,000
Repayment of principal borrowed								$ 0	$ 400,000,000	$ 0
7.95% Senior Notes Due 2053 \| Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount												$ 345,000,000
Debt instrument, interest rate, stated percentage								7.95%				7.95%
Debt issuance costs, net												$ 9,000,000
7.40% Senior Notes Due 2028 \| Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount													$ 500,000,000
Debt instrument, interest rate, stated percentage								7.40%					7.40%
Debt issuance costs, net													$ 6,000,000
F&G Credit Agreement \| Line of Credit \| SOFR
Debt Instrument [Line Items]
Basis spread on variable rate (as percent)		1.00%
F&G Credit Agreement \| Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Line of credit facility	$ 665,000,000	$ 550,000,000
Debt, period prior to maturity date (days)		91 days
Debt redeemed and any refinancing incurred in connection with prior debt, minimum period after (days)		91 days
Debt period from effective date or certain other conditions are met		3 years
Revolving credit outstanding								$ 365,000,000	550,000,000
Unamortized debt issuance costs									$ 3,000,000
Credit facility increase in borrowing capacity	$ 115,000,000
Repayments of all outstanding indebtedness under term loan credit agreement								185,000,000
Remaining borrowing capacity								$ 300,000,000
F&G Credit Agreement \| Revolving Credit Facility \| Line of Credit \| Subsequent Event
Debt Instrument [Line Items]
Line of credit facility											$ 750,000,000
F&G Credit Agreement \| Revolving Credit Facility \| Line of Credit \| Fed Funds Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as percent)		5.00%
F&G Credit Agreement \| Revolving Credit Facility \| Line of Credit \| Minimum \| Condition Two
Debt Instrument [Line Items]
Basis spread on variable rate (as percent)		1.30%
F&G Credit Agreement \| Revolving Credit Facility \| Line of Credit \| Minimum \| SOFR \| Condition One
Debt Instrument [Line Items]
Basis spread on variable rate (as percent)		0.30%
F&G Credit Agreement \| Revolving Credit Facility \| Line of Credit \| Maximum \| Condition Two
Debt Instrument [Line Items]
Basis spread on variable rate (as percent)		1.80%
F&G Credit Agreement \| Revolving Credit Facility \| Line of Credit \| Maximum \| SOFR \| Condition One
Debt Instrument [Line Items]
Basis spread on variable rate (as percent)		0.80%
5.50% F&G Senior Notes due 2025
Debt Instrument [Line Items]
Proceeds from issuance of senior notes							$ 547,000,000
5.50% F&G Senior Notes due 2025 \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage		5.50%	5.50%
Maturity date, maximum principal amount trigger		$ 150,000,000
Repayment of remaining outstanding principal			$ 400,000,000
5.50% F&G Senior Notes due 2025 \| Senior Notes \| F&G
Debt Instrument [Line Items]
Aggregate principal amount														$ 550,000,000
Debt instrument, interest rate, stated percentage														5.50%
Price as percent of par on offering of unsecured Notes							99.50%
3.20% Notes, net of discount
Debt Instrument [Line Items]
Aggregate principal amount				$ 450,000,000
Debt instrument, interest rate, stated percentage				3.20%
Proceeds from issuance debt				$ 443,000,000
3.20% Notes, net of discount \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage								3.20%
Revolving Credit Facility Due April 2022 \| Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Unamortized debt issuance costs								$ 2,000,000
Remaining borrowing capacity								800,000,000
Outstanding principal								$ 0
Revolving Credit Facility Due April 2022 \| Revolving Credit Facility \| Line of Credit \| Subsequent Event
Debt Instrument [Line Items]
Line of credit facility											$ 800,000,000
2.45% Senior Notes Due March 2031
Debt Instrument [Line Items]
Proceeds from issuance debt					$ 593,000,000
2.45% Senior Notes Due March 2031 \| Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount					$ 600,000,000
Debt instrument, interest rate, stated percentage					2.45%
Term Loan Credit Agreement \| Term Loan
Debt Instrument [Line Items]
Line of credit facility															$ 1,000,000,000
Repayments of all outstanding indebtedness under term loan credit agreement					$ 260,000,000
Repayment of principal borrowed						$ 640,000,000
3.40% Notes due June 15, 2030 \| Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount						$ 650,000,000
Debt instrument, interest rate, stated percentage						3.40%
Proceeds from issuance debt						$ 642,000,000
4.50 % Notes due August 2028
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage																4.50%	4.50%
4.50 % Notes due August 2028 \| Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount																	$ 450,000,000
Debt instrument, interest rate, stated percentage								4.50%								4.50%	4.50%
Price as percent of par on offering of unsecured Notes																	99.252%
Annual interest rate																	4.594%

Accounts Payable and Other Accrued Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounts Payable [Line Items]
Salaries and incentives	$ 373	$ 390
Accrued benefits	437	408
Contingent consideration - acquisitions	49	47
Trade accounts payable	339	156
Accrued recording fees and transfer taxes	15	12
Accrued premium taxes	3	20
Liability for policy and contract claims	92	109
Retained asset account	81	117
Remittances and items not allocated	284	225
Option collateral liabilities	588	178
Other accrued liabilities	387	405
Accounts payable and accrued liabilities	3,009	2,326
URL
Accounts Payable [Line Items]
URL/Deferred revenue	270	166	$ 87
Deferred Revenue
Accounts Payable [Line Items]
URL/Deferred revenue	$ 91	$ 93

Employee Benefit Plans - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of options exercised	$ 8	$ 16	$ 32
Stock-based compensation cost	$ 60	49	42
Weighted average	1 year 9 months
The Omnibus Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 59
The Omnibus Plan \| Restricted Stock \| FNF Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of restricted stock awards granted	43	41	52
Fair value of restricted stock awards vested	$ 51	$ 38	$ 43

Business and Summary of Significant Accounting Policies - Management Estimates (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Sep. 30, 2021
Business Acquisition [Line Items]
Change in total benefits and other changes in policy reserves increase (decrease)	$ 73
Future policy benefits	$ 7,050	$ 5,021	$ 4,918
Change in Accounting Method Accounted for as Change in Estimate
Business Acquisition [Line Items]
Future policy benefits		$ 99		$ (435)

Market Risk Benefits - Reconciliation of Asset and Liability (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Market Risk Benefit [Line Items]
Market risk benefits assets	$ 88	$ 117	$ 41
Market risk benefits liability	403	282	469
Net	315	165	428
Deferred Annuities
Market Risk Benefit [Line Items]
Market risk benefits assets	0	0	0
Market risk benefits liability	1	1	2
Net	1	1	2	$ 1
FIA
Market Risk Benefit [Line Items]
Market risk benefits assets	88	117	41
Market risk benefits liability	402	281	467
Net	$ 314	$ 164	$ 426	$ 478

Fair Value of Financial Instruments - Narrative (Detail) $ in Millions	Dec. 31, 2023 USD ($) $ / Contract	Dec. 31, 2022 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in unconsolidated affiliates	$ 3,334	$ 2,642
Title
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in unconsolidated affiliates	$ 263	$ 187
Credit Linked Note \| Income Approach
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, strike price \| $ / Contract	0

Schedule II - Condensed Financial Information - Statement of Cash Flow (Parent Company) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net earnings attributable to FNF common shareholders	$ 517	$ 1,294	$ 2,797
Adjustments to reconcile net earnings to net cash provided by operating activities:
Equity in earnings of unconsolidated affiliates	(17)	(15)	(64)
Depreciation and amortization	593	491	432
Stock-based compensation cost	60	49	42
Net change in income taxes	(50)	66	140
Net cash provided by (used in) operating activities	6,478	4,355	4,090
Cash Flows From Investing Activities:
Purchases of investments available for sale	(13,985)	(13,148)	(16,014)
Net purchases of short-term investment activities	340	(2,571)	266
Net cash used in investing activities	(9,090)	(10,524)	(7,449)
Cash Flows From Financing Activities:
Debt service payments	0	(400)	0
Dividends paid	(500)	(489)	(446)
Purchases of treasury stock	(6)	(553)	(463)
Exercise of stock options	15	39	48
Payment for shares withheld for taxes and in treasury	(17)	(15)	(17)
Net cash provided by financing activities	3,093	4,095	5,000
Net change in cash and cash equivalents	481	(2,074)	1,641
Cash and cash equivalents at beginning of period	2,286	4,360	2,719
Cash and cash equivalents at end of period	2,767	2,286	4,360
Parent Company
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net earnings attributable to FNF common shareholders	517	1,294	2,797
Adjustments to reconcile net earnings to net cash provided by operating activities:
Equity in earnings of unconsolidated affiliates	0	0	(6)
Equity in earnings of subsidiaries	(606)	(1,393)	(2,875)
Depreciation and amortization	1	1	1
Stock-based compensation cost	57	48	43
Net change in income taxes	(262)	748	65
Net (increase) decrease in prepaid expenses and other assets	(72)	41	(14)
Net increase in accounts payable and other accrued liabilities	70	(51)	36
Net cash provided by (used in) operating activities	(295)	688	47
Cash Flows From Investing Activities:
Purchases of investments available for sale	0	0	(52)
Net purchases of short-term investment activities	82	(509)	(6)
Additions to notes receivable	(12)	(87)	(400)
Collections of notes receivable	47	79	120
Net cash used in investing activities	117	(517)	(338)
Cash Flows From Financing Activities:
Borrowings	0	0	449
Debt service payments	0	(400)	0
Debt issuance costs	0	0	(6)
Dividends paid	(500)	(489)	(446)
Purchases of treasury stock	(6)	(553)	(463)
Exercise of stock options	15	39	48
Payment for shares withheld for taxes and in treasury	(17)	(15)	(17)
Additional investments in non-controlling interests	(12)	(2)	0
Net dividends from subsidiaries	689	140	1,266
Net cash provided by financing activities	169	(1,280)	831
Net change in cash and cash equivalents	(9)	(1,109)	540
Cash and cash equivalents at beginning of period	406	1,515	975
Cash and cash equivalents at end of period	$ 397	$ 406	$ 1,515

Other Intangible Assets - Estimated Amortization Expense for VOBA in Future Fiscal Periods (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 149
2025	139
2026	127
2027	116
2028	105
Thereafter	810
Total	$ 1,446	$ 1,615	$ 1,743

Income Taxes - Narrative (Details) - USD ($)	12 Months Ended
Income Taxes - Narrative (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Valuation Allowance [Line Items]
Deferred tax assets, net	$ 343,000,000	$ 513,000,000
Decrease in deferred tax liability due to investments unrealized losses	266,000,000
Decrease in deferred tax asset, reinsurance receivable	463,000,000
Decrease in deferred tax asset related to life insurance receivables	114,000,000
Operating loss carryforwards	25,000,000
Tax credits	119,000,000	74,000,000
Bermuda corporate income tax net operating loss carryforward	24,000,000	0
Valuation allowance	197,000,000	151,000,000
Unrecognized tax benefits	0	0
Income tax penalties and interest accrued	0	0
Income taxes receivable	26,000,000	26,000,000
F& G Subsidiaries
Valuation Allowance [Line Items]
Deferred tax assets, net	372,000,000	584,000,000
Income taxes receivable	28,000,000	$ 28,000,000
General Business Credit Carryforward
Valuation Allowance [Line Items]
Valuation allowance	28,000,000
Deferred Tax Asset, Capital Loss
Valuation Allowance [Line Items]
Valuation allowance	139,000,000
Valuation allowance, increase (decrease)	(20,000,000)
Bermuda Corporate Income Tax Net Operating Loss Carryforward
Valuation Allowance [Line Items]
Valuation allowance, increase (decrease)	(24,000,000)
Begin to expire in 2023
Valuation Allowance [Line Items]
Operating loss carryforwards	401,000,000
Title
Valuation Allowance [Line Items]
Decrease in deferred tax liability due to investments unrealized losses	11,000,000
Operating loss carryforwards	46,000,000
Operating loss carryforwards, valuation allowance	25,000,000
Title \| Deferred Tax Asset, Capital Loss
Valuation Allowance [Line Items]
Valuation allowance	78,000,000
Valuation allowance, increase (decrease)	11,000,000
Title \| General Business Credit Carryforward
Valuation Allowance [Line Items]
Tax credits	28,000,000
F&G
Valuation Allowance [Line Items]
Decrease in deferred tax liability due to investments unrealized losses	255,000,000
Increase in deferred tax liability, deferred acquisition costs	152,000,000
Increase deferred tax liability, reinsurance receivable	434,000,000
Operating loss carryforwards	355,000,000
F&G \| Deferred Tax Asset, Capital Loss
Valuation Allowance [Line Items]
Valuation allowance	61,000,000
Valuation allowance, increase (decrease)	(31,000,000)
F&G \| General Business Credit Carryforward
Valuation Allowance [Line Items]
Tax credits	79,000,000
F&G \| IRS Section 382 Limited
Valuation Allowance [Line Items]
Operating loss carryforwards	$ 68,000,000

Schedule II - Condensed Financial Information - Balance Sheets (Parent Company) (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
ASSETS
Cash	$ 2,767	$ 2,286
Other long-term investments	2,119	2,590
Investments in unconsolidated affiliates	3,334	2,642
Notes receivable	442	467
Property and equipment, net	168	179
Prepaid expenses and other assets	1,900	2,068
Total assets	80,614	65,143	$ 61,330
Liabilities:
Accounts payable and accrued liabilities	3,009	2,326
Income taxes payable	0	0
Deferred tax liability	29	71
Notes payable	3,887	3,238
Total liabilities	$ 73,154	$ 58,574
Common stock, shares, outstanding (in shares)	273,251,449	272,309,890
Equity [Abstract]
FNF common stock, $0.0001 par value; authorized 600,000,000 shares as of December 31, 2023 and December 31, 2022; outstanding of 273,366,235 and 279,064,457 as of December 31, 2023 and December 31, 2022, respectively, and issued of 329,185,916 and 327,757,349 as of December 31, 2023 and December 31, 2022, respectively	$ 0	$ 0
Preferred stock, $0.0001 par value; authorized 50,000,000 shares; issued and outstanding, none	0	0
Additional paid-in capital	5,913	5,870
Retained earnings	5,244	5,225
Accumulated other comprehensive earnings	(2,119)	(2,870)
Treasury stock	(2,130)	(2,109)
Total Fidelity National Financial, Inc. shareholders’ equity	6,908	6,116
Total liabilities and equity	$ 80,614	$ 65,143
Treasury stock (in shares)	55,934,467	55,447,459
Parent Company
ASSETS
Cash	$ 397	$ 406
Short-term investments	487	532
Other long-term investments	0	36
Equity securities	0	1
Investments in unconsolidated affiliates	3	3
Notes receivable	268	303
Investments in and amounts due from subsidiaries	7,949	7,290
Property and equipment, net	3	2
Prepaid expenses and other assets	318	244
Total assets	9,425	8,817
Liabilities:
Accounts payable and accrued liabilities	358	291
Income taxes payable	0	0
Deferred tax liability	29	71
Notes payable	2,126	2,123
Total liabilities	$ 2,513	$ 2,485
Common stock, shares, outstanding (in shares)	273,366,235	279,064,457
Equity [Abstract]
Preferred stock, $0.0001 par value; authorized 50,000,000 shares; issued and outstanding, none	$ 0	$ 0
Additional paid-in capital	5,913	5,870
Retained earnings	5,244	5,225
Accumulated other comprehensive earnings	(2,119)	(2,870)
Treasury stock	(2,126)	(1,893)
Total Fidelity National Financial, Inc. shareholders’ equity	6,912	6,332
Total liabilities and equity	$ 9,425	$ 8,817
Treasury stock (in shares)	55,819,681	48,692,892
Parent Company \| FNF Common Stock
Equity [Abstract]
FNF common stock, $0.0001 par value; authorized 600,000,000 shares as of December 31, 2023 and December 31, 2022; outstanding of 273,366,235 and 279,064,457 as of December 31, 2023 and December 31, 2022, respectively, and issued of 329,185,916 and 327,757,349 as of December 31, 2023 and December 31, 2022, respectively	$ 0	$ 0

Income Taxes - Reconciliation of Beginning and Ending Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	$ 0	$ 60
Additions based on positions taken in current year	0	1
Reductions related to IRS accepting refund, statute of limitation lapses and audit payments	0	(61)
Ending balance	$ 0	$ 0

Commitments and Contingencies - Schedule of Unfunded Commitments by Invested Asset Class (Details) $ in Millions	Dec. 31, 2023 USD ($)
Limited partnerships
Other Commitments [Line Items]
Unfunded investment commitment	$ 1,735
Whole loans
Other Commitments [Line Items]
Unfunded investment commitment	600
Fixed maturity securities, ABS
Other Commitments [Line Items]
Unfunded investment commitment	244
Direct Lending
Other Commitments [Line Items]
Unfunded investment commitment	667
Other fixed maturity securities, AFS
Other Commitments [Line Items]
Unfunded investment commitment	14
Other assets
Other Commitments [Line Items]
Unfunded investment commitment	421
Commercial mortgage loans
Other Commitments [Line Items]
Unfunded investment commitment	72
Other invested assets
Other Commitments [Line Items]
Unfunded investment commitment	15
Committed amounts included in liabilities
Other Commitments [Line Items]
Unfunded investment commitment	0
Commitment to Invest
Other Commitments [Line Items]
Unfunded investment commitment	$ 3,768

Contractholder Funds (Tables)

12 Months Ended

Dec. 31, 2023

Insurance [Abstract]

Summary of Balances and Changes in Contractholder Funds

The following tables summarize balances of and changes in contractholder funds’ account balances:


	December 31, 2023
	FIA			Fixed rate annuities			Universal Life			FABN (b)		FHLB (b)
	(Dollars in millions)
Balance, beginning of year	$	24,766		$	9,358		$	2,112		$	2,613	$	1,982
Issuances	4,722			5,061			199			—		1,256
Premiums received	103			1			382			—		—
Policy charges (a)	(182)			—			(261)			—		—
Surrenders and withdrawals	(2,005)			(1,142)			(90)			—		—
Benefit payments	(526)			(240)			(27)			(53)		(763)

Interest credited	270			405			76			54		64
Other	16			—			—			(1)		—
Balance, end of year	$	27,164		$	13,443		$	2,391		$	2,613	$	2,539
Embedded derivative adjustment (c)	243			—			84			—		—
Gross Liability, end of period	$	27,407		$	13,443		$	2,475		$	2,613	$	2,539
Less: Reinsurance	(17)			(7,520)			(894)			—		—
Net Liability, after Reinsurance	$	27,390		$	5,923		$	1,581		$	2,613	$	2,539

Weighted-average crediting rate	1.40		%	4.85		%	3.44		%	N/A		N/A
Net amount at risk (d)	N/A			N/A			$	60,389		N/A		N/A
Cash surrender value (e)	$	25,099		$	12,505		$	1,872		N/A		N/A

(a) Contracts included in the contractholder funds are generally charged a premium and/or monthly assessments on the basis of the account balance.

(c) The embedded derivative adjustment reconciles the account balance to the gross GAAP liability and represents the combination of the host contract and the fair value of the embedded derivatives.

(e) These amounts are gross of reinsurance


	December 31, 2022
	FIA			Fixed rate annuities			Universal Life			FABN (b)		FHLB (b)
	(Dollars in millions)
Balance, beginning of year	$	21,997		$	6,367		$	1,907		$	1,904	$	1,543
Issuances	4,462			3,758			167			700		1,192
Premiums received	106			3			295			—		—
Policy charges (a)	(166)			(1)			(209)			—		—
Surrenders and withdrawals	(1,322)			(797)			(74)			—		—
Benefit payments	(485)			(192)			(22)			(35)		(789)

Interest credited	198			220			48			45		36
Other	(24)			—			—			(1)		—
Balance, end of year	$	24,766		$	9,358		$	2,112		$	2,613	$	1,982
Embedded derivative adjustment (c)	(343)			—			15			—		—
Gross Liability, end of period	$	24,423		$	9,358		$	2,127		$	2,613	$	1,982
Less: Reinsurance	(17)			(3,723)			(947)			—		—
Net Liability, after Reinsurance	$	24,406		$	5,635		$	1,180		$	2,613	$	1,982

Weighted-average crediting rate	0.85		%	2.84		%	2.39		%	N/A		N/A
Net amount at risk (d)	N/A			N/A			$	53,348		N/A		N/A
Cash surrender value (e)	$	23,049		$	8,744		$	1,698		N/A		N/A

(a) Contracts included in the contractholder funds are generally charged a premium and/or monthly assessments on the basis of the account balance.

(c) The embedded derivative adjustment reconciles the account balance to the gross GAAP liability and represents the combination of the host contract and the fair value of the embedded derivatives.

(e) These amounts are gross of reinsurance


	December 31, 2021
	FIA			Fixed rate annuities			Universal Life			FABN (b)		FHLB (b)
	(Dollars in millions)
Balance, beginning of year	$	18,703		$	5,142		$	1,696		$	—	$	1,203
Issuances	4,400			1,743			114			1,899		759
Premiums received	103			3			233			—		—
Policy charges (a)	(148)			(1)			(167)			—		—
Surrenders and withdrawals	(1,303)			(543)			(68)			—		—
Benefit payments	(440)			(145)			(19)			(7)		(447)

Interest credited	686			167			118			12		30
Other	(4)			1			—			—		(2)
Balance, end of year	$	21,997		$	6,367		$	1,907		$	1,904	$	1,543
Embedded derivative adjustment (c)	603			—			74			—		—
Gross Liability, end of period	$	22,600		$	6,367		$	1,981		$	1,904	$	1,543
Less: Reinsurance	(17)			(1,692)			(984)			—		—
Net Liability, after Reinsurance	$	22,583		$	4,675		$	997		$	1,904	$	1,543

Weighted-average crediting rate	3.43		%	2.94		%	6.77		%	N/A		N/A
Net amount at risk (d)	N/A			N/A			$	41,326		N/A		N/A
Cash surrender value (e)	$	20,455		$	5,992		$	1,572		N/A		N/A

(a) Contracts included in the contractholder funds are generally charged a premium and/or monthly assessments on the basis of the account balance.

(c) The embedded derivative adjustment reconciles the account balance to the gross GAAP liability and represents the combination of the host contract and the fair value of the embedded derivatives.

(e) These amounts are gross of reinsurance

Schedule Of Reconciliation Of Policyholder Account Balances To Statement Of Financial Position

The following table reconciles contractholder funds’ account balances to the contractholder funds liability in the Consolidated Balance Sheets:


	December 31, 2023		December 31, 2022		December 31, 2021
	(In millions)
FIA	$	27,407	$	24,423	$	22,600
Fixed rate annuities	13,443		9,358		6,367
Immediate annuities	311		332		352
Universal life	2,475		2,127		1,981
Traditional life	5		5		5
Funding Agreement-FABN	2,613		2,613		1,904
FHLB	2,539		1,982		1,543
PRT	5		3		1
Total	$	48,798	$	40,843	$	34,753

Policyholder Account Balance, Guaranteed Minimum Crediting Rate


	December 31, 2023
Range of guaranteed minimum crediting rate	At Guaranteed Minimum		1 Basis Point-50 Basis Points Above		51 Basis Points-150 Basis Points Above		Greater Than 150 Basis Points Above		Total
FIA	(In millions)
0.00%-1.50%	$	22,392	$	1,444	$	526	$	1,953	$	26,315
1.51%-2.50%	196		1		24		250		471
Greater than 2.50%	377		1		—		—		378
Total	$	22,965	$	1,446	$	550	$	2,203	$	27,164

Fixed Rate Annuities
0.00%-1.50%	$	23	$	25	$	1,532	$	10,271	$	11,851
1.51%-2.50%	5		8		23		453		489
Greater than 2.50%	893		2		4		204		1,103
Total	$	921	$	35	$	1,559	$	10,928	$	13,443

Universal Life
0.00%-1.50%	$	1,987	$	5	$	—	$	21	$	2,013
1.51%-2.50%	—		—		—		—		—
Greater than 2.50%	361		16		1		—		378
Total	$	2,348	$	21	$	1	$	21	$	2,391


	December 31, 2022
Range of guaranteed minimum crediting rate	At Guaranteed Minimum		1 Basis Point-50 Basis Points Above		51 Basis Points-150 Basis Points Above		Greater Than 150 Basis Points Above		Total
FIA	(In millions)
0.00%-1.50%	$	22,848	$	801	$	410	$	151	$	24,210
1.51%-2.50%	162		—		1		—		163
Greater than 2.50%	390		—		3		—		393
Total	$	23,400	$	801	$	414	$	151	$	24,766

Fixed Rate Annuities
0.00%-1.50%	$	10	$	32	$	1,871	$	6,379	$	8,292
1.51%-2.50%	9		14		30		1		54
Greater than 2.50%	997		4		4		7		1,012
Total	$	1,016	$	50	$	1,905	$	6,387	$	9,358

Universal Life
0.00%-1.50%	$	1,701	$	3	$	—	$	17	$	1,721
1.51%-2.50%	—		—		—		—		—
Greater than 2.50%	346		44		1		—		391
Total	$	2,047	$	47	$	1	$	17	$	2,112


	December 31, 2021
Range of guaranteed minimum crediting rate	At Guaranteed Minimum		1 Basis Point-50 Basis Points Above		51 Basis Points-150 Basis Points Above		Greater Than 150 Basis Points Above		Total
FIA	(In millions)
0.00%-1.50%	$	20,162	$	803	$	388	$	—	$	21,353
1.51%-2.50%	171		11		25		—		207
Greater than 2.50%	431		3		3		—		437
Total	$	20,764	$	817	$	416	$	—	$	21,997

Fixed Rate Annuities
0.00%-1.50%	$	2	$	28	$	1,928	$	3,219	$	5,177
1.51%-2.50%	9		15		37		1		62
Greater than 2.50%	954		142		25		7		1,128
Total	$	965	$	185	$	1,990	$	3,227	$	6,367

Universal Life
0.00%-1.50%	$	1,486	$	2	$	—	$	13	$	1,501
1.51%-2.50%	—		—		—		—		—
Greater than 2.50%	359		46		1		—		406
Total	$	1,845	$	48	$	1	$	13	$	1,907

Acquisitions

12 Months Ended

Dec. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Acquisitions

TitlePoint

On January 1, 2023, we completed our previously announced acquisition of TitlePoint for $224 million in cash, subject to a customary working capital adjustment.

The acquisition was accounted for as a business combination under FASB Accounting Standards Codification Topic 805, Business Combinations ("Topic 805"). The purchase price has been allocated to TitlePoint's assets acquired based on their fair values as of the acquisition date. Goodwill has been recorded based on the amount that the purchase price exceeds the fair value of the net assets acquired. Goodwill consists primarily of intangible assets that do not qualify for separate recognition. The goodwill recorded is expected to be deductible for tax purposes. We completed our assessment of the fair value of assets acquired and liabilities assumed within the one-year period from the date of acquisition. In connection with the acquisition, we recorded fair value estimates for goodwill, other intangible assets and other assets of $165 million, $54 million and $6 million, respectively, as of December 31, 2023.

The gross carrying value and weighted average estimated useful lives of Other intangible assets acquired in the TitlePoint acquisition consist of the following:


	Gross Carrying Value		Weighted Average Estimated Useful Life (in years)

Other intangible assets:	(In millions)

Customer relationships	$	3	10
Trade name	4		10

Software	47		7
Total Other intangible assets	$	54

AllFirst

On August 9, 2022, we acquired approximately 74% of the outstanding equity of AllFirst for approximately $130 million in cash consideration. On December 19, 2022, we purchased an additional 6% of the outstanding equity of AllFirst for approximately $10 million in cash consideration.

The acquisition was accounted for as a business combination under FASB Accounting Standards Codification Topic 805, Business Combinations ("Topic 805"). The purchase price has been allocated to AllFirst's assets acquired and liabilities assumed based on their fair values as of August 9, 2022. Goodwill has been recorded based on the amount that the purchase price exceeds the fair value of the net assets acquired. Goodwill consists primarily of intangible assets that do not qualify for separate recognition. The goodwill recorded is expected to be deductible for tax purposes. We completed our assessment of the fair value of assets acquired and liabilities assumed within the one-year period from the date of acquisition. We recorded fair value amounts as of the acquisition date for goodwill, other intangibles, other assets, other liabilities and non-controlling interest of $104 million, $55 million, $40 million, $18 million and $46 million, respectively, as of December 31, 2023.

The gross carrying value and weighted average estimated useful lives of Other intangible assets acquired in the AllFirst acquisition consist of the following (dollars in millions):


	Gross Carrying Value		Weighted Average Estimated Useful Life (in years)

Other intangible assets:

Customer relationships	$	46	10
Trade name	7		10
Non-compete agreements	1		5
Software	1		2
Total Other intangible assets	$	55

Investments - Major Sources of Interest and Investment Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Investments [Line Items]
Gross investment income	$ (2,864)	$ (2,088)	$ (2,128)
Investment expense	(257)	(197)	(167)
Interest and investment income	2,607	1,891	1,961
Fixed maturity securities, available-for-sale
Schedule of Investments [Line Items]
Gross investment income	(1,911)	(1,489)	(1,267)
Equity securities
Schedule of Investments [Line Items]
Gross investment income	(33)	(31)	(23)
Preferred securities
Schedule of Investments [Line Items]
Gross investment income	(52)	(67)	(63)
Mortgage loans
Schedule of Investments [Line Items]
Gross investment income	(229)	(186)	(131)
Invested cash and short-term investments
Schedule of Investments [Line Items]
Gross investment income	(151)	(61)	(7)
Limited partnerships
Schedule of Investments [Line Items]
Gross investment income	(231)	(110)	(589)
Tax deferred property exchange income
Schedule of Investments [Line Items]
Gross investment income	(166)	(103)	(16)
Other investments
Schedule of Investments [Line Items]
Gross investment income	$ (91)	$ (41)	$ (32)

Investments - Fair Value and Gross Unrealized Losses of Available-for-Sale Securities (Details) $ in Millions	Dec. 31, 2023 USD ($) security	Dec. 31, 2022 USD ($) security
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Values, Less than 12 months	$ 5,841	$ 21,860
Gross Unrealized Losses Less than 12 months	(302)	(2,667)
Fair Value, 12 Months or longer	20,908	8,463
Gross Unrealized Losses, 12 months or longer	(3,291)	(1,964)
Total Fair Value	26,749	30,323
Total Gross Unrealized Losses	$ (3,593)	$ (4,631)
Total number of available-for-sale securities in an unrealized loss position less than twelve months \| security	1,035	3,114
Total number of available-for-sale securities in an unrealized loss position twelve months or longer \| security	2,846	1,296
Total number of available-for-sale securities in an unrealized loss position \| security	3,881	4,410
Asset-backed securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Values, Less than 12 months	$ 1,707	$ 7,001
Gross Unrealized Losses Less than 12 months	(56)	(410)
Fair Value, 12 Months or longer	5,835	3,727
Gross Unrealized Losses, 12 months or longer	(404)	(360)
Total Fair Value	7,542	10,728
Total Gross Unrealized Losses	(460)	(770)
Commercial mortgage-backed securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Values, Less than 12 months	819	2,079
Gross Unrealized Losses Less than 12 months	(53)	(169)
Fair Value, 12 Months or longer	1,922	475
Gross Unrealized Losses, 12 months or longer	(235)	(116)
Total Fair Value	2,741	2,554
Total Gross Unrealized Losses	(288)	(285)
Corporates
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Values, Less than 12 months	2,387	9,913
Gross Unrealized Losses Less than 12 months	(134)	(1,735)
Fair Value, 12 Months or longer	10,739	3,523
Gross Unrealized Losses, 12 months or longer	(2,283)	(1,330)
Total Fair Value	13,126	13,436
Total Gross Unrealized Losses	(2,417)	(3,065)
Hybrids
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Values, Less than 12 months	60	628
Gross Unrealized Losses Less than 12 months	(2)	(83)
Fair Value, 12 Months or longer	483	3
Gross Unrealized Losses, 12 months or longer	(51)	(1)
Total Fair Value	543	631
Total Gross Unrealized Losses	(53)	(84)
Municipals
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Values, Less than 12 months	399	998
Gross Unrealized Losses Less than 12 months	(49)	(180)
Fair Value, 12 Months or longer	920	352
Gross Unrealized Losses, 12 months or longer	(179)	(113)
Total Fair Value	1,319	1,350
Total Gross Unrealized Losses	(228)	(293)
Residential mortgage-backed securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Values, Less than 12 months	336	992
Gross Unrealized Losses Less than 12 months	(5)	(51)
Fair Value, 12 Months or longer	662	184
Gross Unrealized Losses, 12 months or longer	(89)	(22)
Total Fair Value	998	1,176
Total Gross Unrealized Losses	(94)	(73)
U.S. Government
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Values, Less than 12 months	84	130
Gross Unrealized Losses Less than 12 months	0	(7)
Fair Value, 12 Months or longer	159	140
Gross Unrealized Losses, 12 months or longer	(9)	(8)
Total Fair Value	243	270
Total Gross Unrealized Losses	(9)	(15)
Foreign Governments
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Fair Values, Less than 12 months	49	119
Gross Unrealized Losses Less than 12 months	(3)	(32)
Fair Value, 12 Months or longer	188	59
Gross Unrealized Losses, 12 months or longer	(41)	(14)
Total Fair Value	237	178
Total Gross Unrealized Losses	$ (44)	$ (46)

Segment Information

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Segment Information

Summarized financial information concerning our reportable segments is shown in the following tables.

As of and for the year ended December 31, 2023:


	Title		F&G		Corporate and Other		Total
	(In millions)
Title premiums	$	4,592	$	—	$	—	$	4,592
Other revenues	2,117		2,413		187		4,717
Revenues from external customers	6,709		2,413		187		9,309
Interest and investment income, including recognized gains and losses	329		2,087		27		2,443
Total revenues	7,038		4,500		214		11,752
Depreciation and amortization	154		412		27		593
Interest expense	—		97		77		174
Earnings (loss) from continuing operations before income taxes and equity in earnings of unconsolidated affiliates	883		(35)		(155)		693
Income tax expense (benefit)	181		23		(12)		192
Earnings (loss) before equity in earnings (loss) of unconsolidated affiliates	702		(58)		(143)		501
Equity in earnings of unconsolidated affiliates	17		—		—		17
Net earnings (loss) from continuing operations	$	719	$	(58)	$	(143)	$	518
Assets	$	7,949	$	70,186	$	2,479	$	80,614
Goodwill	$	2,789	$	1,749	$	292	$	4,830

As of and for the year ended December 31, 2022:


	Title		F&G		Corporate and Other		Total
	(In millions)
Title premiums	$	6,834	$	—	$	—	$	6,834
Other revenues	2,502		1,704		127		4,333
Revenues from external customers	9,336		1,704		127		11,167
Interest and investment income, including recognized gains and losses	(230)		645		(17)		398
Total revenues	9,106		2,349		110		11,565
Depreciation and amortization	142		324		25		491
Interest expense	—		29		86		115
Earnings (loss) before income taxes and equity in earnings of unconsolidated affiliates	1,090		793		(153)		1,730
Income tax expense (benefit)	298		158		(17)		439
Earnings (loss) before equity in earnings of unconsolidated affiliates	792		635		(136)		1,291
Equity in earnings of unconsolidated affiliates	15		—		—		15
Net earnings (loss)	$	807	$	635	$	(136)	$	1,306
Assets	$	8,295	$	54,637	$	2,211	$	65,143
Goodwill	$	2,620	$	1,749	$	266	$	4,635

As of and for the year ended December 31, 2021:


	Title		F&G		Corporate and Other		Total
	(In millions)
Title premiums	$	8,553	$	—	$	—	$	8,553
Other revenues	3,228		1,407		172		4,807
Revenues from external customers	11,781		1,407		172		13,360
Interest and investment income, including recognized gains and losses	(284)		2,567		12		2,295
Total revenues	11,497		3,974		184		15,655
Depreciation and amortization	138		271		23		432
Interest expense	—		29		85		114
Earnings (loss) before income taxes and equity in earnings of unconsolidated affiliates	2,136		1,552		(130)		3,558
Income tax expense (benefit)	511		320		(18)		813
Earnings (loss) before equity in earnings of unconsolidated affiliates	1,625		1,232		(112)		2,745
Equity in earnings of unconsolidated affiliates	58		—		6		64
Net earnings (loss)	$	1,683	$	1,232	$	(106)	$	2,809
Assets	$	9,663	$	49,371	$	2,296	$	61,330
Goodwill	$	2,517	$	1,749	$	266	$	4,532

The activities in our segments include the following:

•Title. This segment consists of the operations of our title insurance underwriters and related businesses. This segment provides core title insurance and escrow and other title-related services including trust activities, trustee sales guarantees, and home warranty products. This segment also includes our transaction services business, which includes other title-related services used in the production and management of mortgage loans, including mortgage loans that experience default.

•F&G. This segment primarily consists of the operations of our annuities and life insurance related businesses. This segment issues a broad portfolio of annuity and life products, including deferred annuities (fixed indexed and fixed rate annuities), immediate annuities and indexed universal life insurance. This segment also provides funding agreements and pension risk transfer solutions.

•Corporate and Other. This segment consists of the operations of the parent holding company, our real estate technology subsidiaries and our remaining real estate brokerage businesses. This segment also includes certain other unallocated corporate overhead expenses and eliminations of revenues and expenses between it and our Title segment.

Refer to Note L Revenue Recognition for a description of our accounting for our various revenue streams.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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-Paragraph 32
-Subparagraph (f)
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Revenue Recognition - Contract Balances, Information about Receivables and Deferred Revenue (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Trade receivables	$ 317	$ 349
Policy period	1 year
Revenue recognized	$ 84	98
Deferred Revenue
Disaggregation of Revenue [Line Items]
Deferred revenue (contract liabilities)	$ 91	$ 93

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

F&G Reinsurance - Effect of Reinsurance on Premiums Earned, Benefits Incurred and Reserve Changes (Detail) - USD ($) $ in Millions	7 Months Ended	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Premiums Earned, Net [Abstract]
Direct		$ 2,567	$ 1,882	$ 1,595
Ceded		(154)	(178)	(188)
Net		2,413	1,704	1,407
Traditional Life Insurance Premiums
Premiums Earned, Net [Abstract]
Direct	$ 1,314	2,112	1,522
Ceded	(137)	(105)	(128)
Net		2,007	1,394	1,177
Policyholder Benefits and Claims Incurred [Abstract]
Direct	3,070	3,728	3,640
Ceded	$ (1,138)	(175)	(2,514)
Net		$ 3,553	$ 1,126	$ 1,932

Investments - Carrying Value and Maximum Loss Exposure of Unconsolidated VIEs (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Schedule of Investments [Line Items]
Carrying Value	$ 23,908	$ 18,107
Maximum Loss Exposure	27,152	21,434
Investments in unconsolidated affiliates
Schedule of Investments [Line Items]
Carrying Value	3,071	2,427
Maximum Loss Exposure	4,806	4,030
Fixed maturity securities
Schedule of Investments [Line Items]
Carrying Value	20,837	15,680
Maximum Loss Exposure	$ 22,346	$ 17,404

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Revenue Recognition

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Disaggregation of Revenue

Our revenue consists of:


			Year Ended December 31,
				2023		2022		2021
Revenue Stream	Income Statement Classification	Segment		Total Revenue
Revenue from insurance contracts:				(In millions)
Direct title insurance premiums	Direct title insurance premiums	Title		$	1,982	$	2,858	$	3,571
Agency title insurance premiums	Agency title insurance premiums	Title		2,610		3,976		4,982
Life insurance premiums, insurance and investment product fees, and other (1)	Escrow, title-related and other fees	F&G		2,413		1,704		1,407
Home warranty	Escrow, title-related and other fees	Title		143		165		185
Total revenue from insurance contracts				7,148		8,703		10,145
Revenue from contracts with customers:
Escrow fees	Escrow, title-related and other fees	Title		766		980		1,395
Other title-related fees and income	Escrow, title-related and other fees	Title		633		752		888
ServiceLink, excluding title premiums, escrow fees, and subservicing fees	Escrow, title-related and other fees	Title		313		342		396

Real estate technology	Escrow, title-related and other fees	Corporate and other		151		158		142


Total revenue from contracts with customers				1,863		2,232		2,821
Other revenue:
Loan subservicing revenue	Escrow, title-related and other fees	Title		262		263		364
Other	Escrow, title-related and other fees	Corporate and other		36		(31)		30
Interest and investment income	Interest and investment income	Various		2,607		1,891		1,961
Recognized gains and losses, net	Recognized gains and losses, net	Various		(164)		(1,493)		334
Total revenues	Total revenues			$	11,752	$	11,565	$	15,655
(1) Includes $1,964, $1,362 and 1,146 of life-contingent pension risk transfer premiums in 2023, 2022 and 2021, respectively.

Our Direct title insurance premiums are recognized as revenue at the time of closing of the underlying transaction as the earnings process is then considered complete. Regulation of title insurance rates varies by state. Premiums are charged to customers based on rates predetermined in coordination with each states' respective Department of Insurance. Cash associated with such revenue is typically collected at closing of the underlying real estate transaction. Premium revenues from agency title operations are recognized when the underlying title order and transaction closing, if applicable, are complete.

Revenues from our home warranty business are generated from contracts with customers to provide warranty for major home appliances. Substantially all of our home warranty contracts are one year in length and revenue is recognized ratably over the term of the contract.

Escrow fees and Other title-related fees and income in our Title segment are closely related to Direct title insurance premiums and are primarily associated with managing the closing of real estate transactions including the processing of funds on behalf of the transaction participants, gathering and recording the required closing documents, providing notary and home inspection services, and other real estate or title-related activities. Revenue is primarily recognized upon closing of the underlying real estate transaction or completion of services. Cash associated with such revenue is typically collected at closing.

Revenues from ServiceLink, excluding its title premiums, escrow fees and loan subservicing fees primarily include revenues from real estate appraisal services and foreclosure processing and facilitation services. Revenues from real estate appraisal services are recognized when all appraisal work is complete, a final report is issued to the client and the client is billed. Revenues from foreclosure processing and facilitation services are primarily recognized upon completion of the services and when billing to the client is complete.

Life insurance premiums in our F&G segment reflect premiums for life-contingent PRT, traditional life insurance products and life-contingent immediate annuity products, which are recognized as revenue when due from the policyholder. We have ceded the majority of our traditional life business to unaffiliated third-party reinsurers. While the base contract has been reinsured, we continue to retain the return of premium rider. Insurance and investment product fees and other consist primarily of the cost of insurance on IUL policies, UREV on IUL policies, policy rider fees primarily on FIA policies and surrender charges assessed against policy withdrawals in excess of the policyholder's allowable penalty-free amounts.

Premium and annuity deposit collections for FIA, fixed rate annuities, immediate annuities and PRT without life contingency, and amounts received for funding agreements are reported in the financial statements as deposit liabilities (i.e., contractholder funds) instead of as sales or revenues. Similarly, cash payments to customers are reported as decreases in the liability for contractholder funds and not as expenses. Sources of revenues for products accounted for as deposit liabilities include net investment income, surrender, cost of insurance and other charges deducted from contractholder funds, and net realized gains (losses) on investments. Components of expenses for products accounted for as deposit liabilities are interest-sensitive and index product benefits (primarily interest credited to account balances or the hedging cost of providing index credits to the policyholder), amortization of DAC, DSI, and VOBA, other operating costs and expenses, and income taxes.

Premiums, annuity deposits (net of reinsurance and reinsurance recoverable) and funding agreements, which are not included as revenues in the accompanying Consolidated Statements of Earnings, collected by product type were as follows:


	Year ended
	December 31, 2023		December 31, 2022		December 31, 2021
Product Type	(In millions)
Fixed indexed annuities	$	4,738	$	4,483	$	4,420
Fixed rate annuities	1,147		1,522		878
Funding agreements (FABN/FHLB)	1,256		1,891		2,658

Life insurance and other (a)	646		446		329
Total	$	7,787	$	8,342	$	8,285

(a) Life insurance and other primarily includes indexed universal life insurance.

Real estate technology revenues are primarily comprised of subscription fees for use of software provided to real estate professionals. Subscriptions are only offered on a month-by-month basis and fees are billed monthly. Revenue is recognized in the month services are provided.

Loan subservicing revenues are generated by certain subsidiaries of ServiceLink and are associated with the servicing of mortgage loans on behalf of its customers. Revenue is recognized when the underlying work is performed and billed. Loan subservicing revenues are subject to the recognition requirements of ASC Topic 860.

Interest and investment income consists primarily of interest payments received on fixed maturity security holdings and dividends received on equity and preferred security holdings along with the investment income of limited partnerships.

We do not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less, primarily related to revenue from our home warranty business, and (ii) contracts for which we recognize revenue at the amount to which we have the right to invoice for services performed.

Contract Balances

The following table provides information about trade receivables and deferred revenue:


	December 31, 2023		December 31, 2022
	(In millions)
Trade receivables	$	317	$	349
Deferred revenue (contract liabilities)	91		93

Deferred revenue is recorded primarily for our home warranty contracts. Revenues from home warranty products are recognized over the life of the policy, which is primarily one year. The unrecognized portion is recorded as deferred revenue in accounts payable and other accrued liabilities in the Consolidated Balance Sheets. During the years ended December 31, 2023 and 2022, we recognized $84 million and $98 million of revenue, respectively, which was included in deferred revenue at the beginning of the respective period.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

Investments - Schedule of Investment in CMLs by Loan to Value and Debt Service Coverage Ratios (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Credit Quality Indicator Prior Year [Abstract]
Loans under development, amortized cost		$ 9
Loans under development, fair value		9
Commercial Mortgage
Schedule of Investments [Line Items]
Loans	$ 2,528	$ 2,407
% of Total	100.00%	100.00%
Credit Quality Indicator Current Year [Abstract]
2023	$ 213	$ 341
2022	288	1,300
2021	1,256	488
2020	512	0
2019	0	0
Prior	259	278
Total	2,528	2,407
Credit Quality Indicator Prior Year [Abstract]
2022	213	341
2021	288	1,300
2020	1,256	488
2019	512	0
2018	0	0
Prior	259	278
Total	2,528	2,407
Loans under development, amortized cost	22
Loans under development, fair value	22
Commercial Mortgage \| Total Estimated Fair Value
Schedule of Investments [Line Items]
Loans	$ 2,231	$ 2,074
% of Total	100.00%	100.00%
Credit Quality Indicator Current Year [Abstract]
Total	$ 2,231	$ 2,074
Credit Quality Indicator Prior Year [Abstract]
Total	2,231	2,074
Commercial Mortgage \| Less than 50.00%
Schedule of Investments [Line Items]
Loans	$ 533	$ 526
% of Total	21.00%	22.00%
Credit Quality Indicator Current Year [Abstract]
2023	$ 85	$ 70
2022	17	120
2021	77	207
2020	232	0
2019	0	0
Prior	122	129
Total	533	526
Credit Quality Indicator Prior Year [Abstract]
2022	85	70
2021	17	120
2020	77	207
2019	232	0
2018	0	0
Prior	122	129
Total	533	526
Commercial Mortgage \| Less than 50.00% \| Total Estimated Fair Value
Schedule of Investments [Line Items]
Loans	$ 510	$ 490
% of Total	23.00%	24.00%
Credit Quality Indicator Current Year [Abstract]
Total	$ 510	$ 490
Credit Quality Indicator Prior Year [Abstract]
Total	510	490
Commercial Mortgage \| 50.00% to 59.99%
Schedule of Investments [Line Items]
Loans	$ 764	$ 706
% of Total	30.00%	29.00%
Credit Quality Indicator Current Year [Abstract]
2023	$ 53	$ 149
2022	149	268
2021	267	158
2020	158	0
2019	0	0
Prior	137	131
Total	764	706
Credit Quality Indicator Prior Year [Abstract]
2022	53	149
2021	149	268
2020	267	158
2019	158	0
2018	0	0
Prior	137	131
Total	764	706
Commercial Mortgage \| 50.00% to 59.99% \| Total Estimated Fair Value
Schedule of Investments [Line Items]
Loans	$ 679	$ 615
% of Total	30.00%	30.00%
Credit Quality Indicator Current Year [Abstract]
Total	$ 679	$ 615
Credit Quality Indicator Prior Year [Abstract]
Total	679	615
Commercial Mortgage \| 60.00% to 74.99%
Schedule of Investments [Line Items]
Loans	$ 1,216	$ 1,157
% of Total	48.00%	48.00%
Credit Quality Indicator Current Year [Abstract]
2023	$ 69	$ 113
2022	113	912
2021	912	123
2020	122	0
2019	0	0
Prior	0	9
Total	1,216	1,157
Credit Quality Indicator Prior Year [Abstract]
2022	69	113
2021	113	912
2020	912	123
2019	122	0
2018	0	0
Prior	0	9
Total	1,216	1,157
Commercial Mortgage \| 60.00% to 74.99% \| Total Estimated Fair Value
Schedule of Investments [Line Items]
Loans	$ 1,028	$ 955
% of Total	46.00%	45.00%
Credit Quality Indicator Current Year [Abstract]
Total	$ 1,028	$ 955
Credit Quality Indicator Prior Year [Abstract]
Total	1,028	955
Commercial Mortgage \| 75.00% to 84.99%
Schedule of Investments [Line Items]
Loans	$ 15	$ 18
% of Total	1.00%	1.00%
Credit Quality Indicator Current Year [Abstract]
2023	$ 6	$ 9
2022	9	0
2021	0	0
2020	0	0
2019	0	0
Prior	0	9
Total	15	18
Credit Quality Indicator Prior Year [Abstract]
2022	6	9
2021	9	0
2020	0	0
2019	0	0
2018	0	0
Prior	0	9
Total	15	18
Commercial Mortgage \| 75.00% to 84.99% \| Total Estimated Fair Value
Schedule of Investments [Line Items]
Loans	$ 14	$ 14
% of Total	1.00%	1.00%
Credit Quality Indicator Current Year [Abstract]
Total	$ 14	$ 14
Credit Quality Indicator Prior Year [Abstract]
Total	14	14
Greater than 1.25 \| Commercial Mortgage
Schedule of Investments [Line Items]
Loans	2,443	2,371
Credit Quality Indicator Current Year [Abstract]
2023	154	329
2022	276	1,300
2021	1,256	488
2020	512	0
2019	0	0
Prior	245	254
Total	2,443	2,371
Credit Quality Indicator Prior Year [Abstract]
2022	154	329
2021	276	1,300
2020	1,256	488
2019	512	0
2018	0	0
Prior	245	254
Total	2,443	2,371
Greater than 1.25 \| Commercial Mortgage \| Less than 50.00%
Schedule of Investments [Line Items]
Loans	519	511
Credit Quality Indicator Current Year [Abstract]
Total	519	511
Credit Quality Indicator Prior Year [Abstract]
Total	519	511
Greater than 1.25 \| Commercial Mortgage \| 50.00% to 59.99%
Schedule of Investments [Line Items]
Loans	764	706
Credit Quality Indicator Current Year [Abstract]
Total	764	706
Credit Quality Indicator Prior Year [Abstract]
Total	764	706
Greater than 1.25 \| Commercial Mortgage \| 60.00% to 74.99%
Schedule of Investments [Line Items]
Loans	1,160	1,154
Credit Quality Indicator Current Year [Abstract]
Total	1,160	1,154
Credit Quality Indicator Prior Year [Abstract]
Total	1,160	1,154
Greater than 1.25 \| Commercial Mortgage \| 75.00% to 84.99%
Schedule of Investments [Line Items]
Loans	0	0
Credit Quality Indicator Current Year [Abstract]
Total	0	0
Credit Quality Indicator Prior Year [Abstract]
Total	0	0
Greater than 1.00 but less than 1.25 \| Commercial Mortgage
Schedule of Investments [Line Items]
Loans	66	7
Credit Quality Indicator Current Year [Abstract]
2023	59	3
2022	3	0
2021	0	0
2020	0	0
2019	0	0
Prior	4	4
Total	66	7
Credit Quality Indicator Prior Year [Abstract]
2022	59	3
2021	3	0
2020	0	0
2019	0	0
2018	0	0
Prior	4	4
Total	66	7
Greater than 1.00 but less than 1.25 \| Commercial Mortgage \| Less than 50.00%
Schedule of Investments [Line Items]
Loans	4	4
Credit Quality Indicator Current Year [Abstract]
Total	4	4
Credit Quality Indicator Prior Year [Abstract]
Total	4	4
Greater than 1.00 but less than 1.25 \| Commercial Mortgage \| 50.00% to 59.99%
Schedule of Investments [Line Items]
Loans	0	0
Credit Quality Indicator Current Year [Abstract]
Total	0	0
Credit Quality Indicator Prior Year [Abstract]
Total	0	0
Greater than 1.00 but less than 1.25 \| Commercial Mortgage \| 60.00% to 74.99%
Schedule of Investments [Line Items]
Loans	56	3
Credit Quality Indicator Current Year [Abstract]
Total	56	3
Credit Quality Indicator Prior Year [Abstract]
Total	56	3
Greater than 1.00 but less than 1.25 \| Commercial Mortgage \| 75.00% to 84.99%
Schedule of Investments [Line Items]
Loans	6	0
Credit Quality Indicator Current Year [Abstract]
Total	6	0
Credit Quality Indicator Prior Year [Abstract]
Total	6	0
Greater than 1.00 \| Commercial Mortgage
Schedule of Investments [Line Items]
Loans	19	29
Credit Quality Indicator Current Year [Abstract]
Total	19	29
Credit Quality Indicator Prior Year [Abstract]
Total	19	29
Greater than 1.00 \| Commercial Mortgage \| Less than 50.00%
Schedule of Investments [Line Items]
Loans	10	11
Credit Quality Indicator Current Year [Abstract]
Total	10	11
Credit Quality Indicator Prior Year [Abstract]
Total	10	11
Greater than 1.00 \| Commercial Mortgage \| 50.00% to 59.99%
Schedule of Investments [Line Items]
Loans	0	0
Credit Quality Indicator Current Year [Abstract]
Total	0	0
Credit Quality Indicator Prior Year [Abstract]
Total	0	0
Greater than 1.00 \| Commercial Mortgage \| 60.00% to 74.99%
Schedule of Investments [Line Items]
Loans	0	0
Credit Quality Indicator Current Year [Abstract]
Total	0	0
Credit Quality Indicator Prior Year [Abstract]
Total	0	0
Greater than 1.00 \| Commercial Mortgage \| 75.00% to 84.99%
Schedule of Investments [Line Items]
Loans	9	18
Credit Quality Indicator Current Year [Abstract]
Total	9	18
Credit Quality Indicator Prior Year [Abstract]
Total	9	18
Less than 1.00 \| Commercial Mortgage
Schedule of Investments [Line Items]
Loans	19	29
Credit Quality Indicator Current Year [Abstract]
2023	0	9
2022	9	0
2021	0	0
2020	0	0
2019	0	0
Prior	10	20
Total	19	29
Credit Quality Indicator Prior Year [Abstract]
2022	0	9
2021	9	0
2020	0	0
2019	0	0
2018	0	0
Prior	10	20
Total	$ 19	$ 29

Business and Summary of Significant Accounting Policies - Contract Holder Funds, Future Policy Benefits and Secured Trust Deposits (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
NPR, capped percentage	100.00%
Market risk benefit, attributed fee ratio capped percentage	100.00%
Secured trust deposits	$ 731	$ 862

Acquisitions - Carrying Value and Estimated Useful Lives (Details) - USD ($) $ in Millions	Jan. 01, 2023	Aug. 09, 2022	Dec. 31, 2023
TitlePoint
Property, Plant and Equipment [Line Items]
Gross Carrying Value	$ 54		$ 54
TitlePoint \| Customer relationships
Property, Plant and Equipment [Line Items]
Gross Carrying Value	$ 3
Weighted average useful life (years)	10 years
TitlePoint \| Trade Names [Member]
Property, Plant and Equipment [Line Items]
Gross Carrying Value	$ 4
Weighted average useful life (years)	10 years
TitlePoint \| Software
Property, Plant and Equipment [Line Items]
Gross Carrying Value	$ 47
Weighted average useful life (years)	7 years
AllFirst
Property, Plant and Equipment [Line Items]
Gross Carrying Value		$ 55	$ 55
AllFirst \| Customer relationships
Property, Plant and Equipment [Line Items]
Gross Carrying Value		$ 46
Weighted average useful life (years)		10 years
AllFirst \| Trade Names [Member]
Property, Plant and Equipment [Line Items]
Gross Carrying Value		$ 7
Weighted average useful life (years)		10 years
AllFirst \| Noncompete Agreements
Property, Plant and Equipment [Line Items]
Gross Carrying Value		$ 1
Weighted average useful life (years)		5 years
AllFirst \| Software
Property, Plant and Equipment [Line Items]
Gross Carrying Value		$ 1
Weighted average useful life (years)		2 years

Recent Accounting Pronouncements - Summary of Balance of and Changes in FPB due to Adoption of ASU 2018-12 (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Liability for future policy benefit				$ 4,128
Less: Reinsurance recoverable				1,115
As adjusted
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Balance, net of reinsurance			$ 3,013
As Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Liability for future policy benefit				4,005
Cumulative effect of retrospective adoption
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Liability for future policy benefit				(78)
Effect of remeasurement of liability at current discount rate
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Liability for future policy benefit				201
Immediate Annuities
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Liability for future policy benefit				2,175
Less: Reinsurance recoverable	$ 116	$ 118	145	322
Immediate Annuities \| As adjusted
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Balance, net of reinsurance			1,853
Immediate Annuities \| As Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Liability for future policy benefit				1,861
Immediate Annuities \| Cumulative effect of retrospective adoption
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Liability for future policy benefit				201
Immediate Annuities \| Effect of remeasurement of liability at current discount rate
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Liability for future policy benefit				113
Traditional Life
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Liability for future policy benefit				1,953
Less: Reinsurance recoverable	$ 413	$ 612	749	793
Traditional Life \| As adjusted
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Balance, net of reinsurance			$ 1,160
Traditional Life \| As Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Liability for future policy benefit				2,144
Traditional Life \| Cumulative effect of retrospective adoption
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Liability for future policy benefit				(279)
Traditional Life \| Effect of remeasurement of liability at current discount rate
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Liability for future policy benefit				$ 88

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Gross Carrying Value and Weighted Average Useful Lives of Property and Equipment and Other Intangible Assets Acquired

The gross carrying value and weighted average estimated useful lives of Other intangible assets acquired in the TitlePoint acquisition consist of the following:


	Gross Carrying Value		Weighted Average Estimated Useful Life (in years)

Other intangible assets:	(In millions)

Customer relationships	$	3	10
Trade name	4		10

Software	47		7
Total Other intangible assets	$	54

The gross carrying value and weighted average estimated useful lives of Other intangible assets acquired in the AllFirst acquisition consist of the following (dollars in millions):


	Gross Carrying Value		Weighted Average Estimated Useful Life (in years)

Other intangible assets:

Customer relationships	$	46	10
Trade name	7		10
Non-compete agreements	1		5
Software	1		2
Total Other intangible assets	$	55

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash Flows From Operating Activities:
Net earnings	$ 518	$ 1,306	$ 2,817
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	593	491	432
Equity in earnings of unconsolidated affiliates	(17)	(15)	(64)
Loss (gain) on sales of investments and other assets and asset impairments, net	542	533	(588)
Loss on sale of businesses	0	0	14
Interest credited/index credits to contractholder account balances	1,409	(560)	573
Change in market risk benefits, net	95	(182)	(44)
Deferred policy acquisition costs and deferred sales inducements	(1,084)	(814)	(675)
Charges assessed to contractholders for mortality and administration	(255)	(221)	(191)
Non-cash lease costs	136	142	139
Operating lease payments	(153)	(154)	(150)
Distributions from unconsolidated affiliates, return on investment	122	151	106
Stock-based compensation cost	60	49	42
Change in NAV of limited partnerships, net	(220)	(109)	(589)
Change in valuation of derivatives, equity and preferred securities, net	(388)	947	253
Changes in assets and liabilities, net of effects from acquisitions:
Change in reinsurance recoverable	78	276	59
Change in future policy benefits	1,325	1,071	627
Change in funds withheld from reinsurers	3,386	2,056	850
Net decrease (increase) in trade receivables	37	178	(120)
Net (decrease) increase in reserve for title claim losses	(40)	(73)	260
Net change in income taxes	(50)	66	140
Net change in other assets and other liabilities	384	(783)	199
Net cash provided by (used in) operating activities	6,478	4,355	4,090
Cash Flows From Investing Activities:
Proceeds from calls and maturities of investment securities	5,875	6,340	9,796
Fundings of notes receivable	(19)	(99)	(19)
Additions to property and equipment and capitalized software	(132)	(138)	(131)
Purchases of investment securities	(13,985)	(13,148)	(16,014)
Net proceeds (purchases of) from sales and maturities of short-term investment securities	340	(2,571)	266
Other acquisitions/disposals of businesses, net of cash acquired/disposed	(299)	(180)	(100)
Additional investments in unconsolidated affiliates	(1,296)	(1,077)	(1,746)
Distributions from unconsolidated affiliates, return of investment	423	335	491
Net other investing activities	3	14	8
Net cash used in investing activities	(9,090)	(10,524)	(7,449)
Cash Flows From Financing Activities:
Borrowings	6	550	0
Debt offering	845	0	449
F&G Credit Agreement repayments, net	(185)	0	0
Debt costs/equity issuance additions	(16)	(4)	(6)
Debt service payments	0	(400)	0
Dividends paid	(500)	(489)	(446)
Subsidiary dividends paid to non-controlling interest shareholders	(32)	(20)	(19)
Exercise of stock options	15	39	48
Net change in secured trust deposits	(132)	(72)	224
Purchase of additional share in consolidated subsidiaries	(19)	(15)	0
Payment of contingent consideration for prior period acquisitions	(10)	(6)	(5)
Payment for shares withheld for taxes and in treasury	(17)	(15)	(17)
Contractholder account deposits	7,787	8,530	8,166
Contractholder account withdrawals	(4,625)	(3,450)	(2,931)
F&G repurchases of F&G stock	(18)	0	0
Purchases of treasury stock	(6)	(553)	(463)
Net cash provided by financing activities	3,093	4,095	5,000
Net increase (decrease) in cash and cash equivalents	481	(2,074)	1,641
Cash and cash equivalents at beginning of period	2,286	4,360	2,719
Cash and cash equivalents at end of period	$ 2,767	$ 2,286	$ 4,360

Future Policy Benefits - Weighted Average Rates (Details)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Traditional Life
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	2.33%	2.32%	2.29%
Current discount rate	5.03%	5.37%	2.41%
Immediate Annuities
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	3.14%	3.07%	3.04%
Current discount rate	4.98%	5.21%	3.07%
PRT
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	4.61%	3.20%	1.20%
Current discount rate	5.03%	5.40%	2.79%

Contractholder Funds - Narrative (Details) $ in Millions	12 Months Ended
Contractholder Funds - Narrative (Details) $ in Millions	Dec. 31, 2023 USD ($)
Insurance [Abstract]
Change in total benefits and other changes in policy reserves increase (decrease)	$ 73

Income Taxes - Effective Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Federal statutory rate	21.00%	21.00%	21.00%
State income taxes, net of federal benefit	2.40%	2.00%	1.40%
Stock compensation	(0.20%)	(0.10%)	(0.20%)
Tax credits	(1.80%)	(0.70%)	(0.20%)
Valuation allowance for deferred tax assets	5.00%	5.40%	(0.40%)
Benefit on Capital Loss Carryback	0.00%	(1.30%)	0.00%
Officers Compensation	1.20%	0.40%	0.20%
Non-deductible expenses and other, net	0.10%	(1.30%)	1.00%
Effective tax rate	27.70%	25.40%	22.80%

Contractholder Funds - Reconciliation to Condensed Consolidated Balance Sheets (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Policyholder Account Balance [Line Items]
Contractholder funds	$ 48,798	$ 40,843	$ 34,753
FIA
Policyholder Account Balance [Line Items]
Contractholder funds	27,407	24,423	22,600
Fixed Rate Annuities
Policyholder Account Balance [Line Items]
Contractholder funds	13,443	9,358	6,367
Immediate Annuities
Policyholder Account Balance [Line Items]
Contractholder funds	311	332	352
Universal Life
Policyholder Account Balance [Line Items]
Contractholder funds	2,475	2,127	1,981
Traditional Life
Policyholder Account Balance [Line Items]
Contractholder funds	5	5	5
Funding Agreements, FABN
Policyholder Account Balance [Line Items]
Contractholder funds	2,613	2,613	1,904
Federal Home Loan Bank Funding Agreements
Policyholder Account Balance [Line Items]
Contractholder funds	2,539	1,982	1,543
PRT
Policyholder Account Balance [Line Items]
Contractholder funds	$ 5	$ 3	$ 1

Schedule IV - F&G Reinsurance (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Life insurance in force
Gross Amount	$ 8,448	$ 6,296	$ 4,895
Ceded to other companies	(1,436)	(1,524)	(1,642)
Assumed from other companies	0	0	0
Net Amount	$ 7,012	$ 4,772	$ 3,253
Percentage of amount assumed of net	0.00%	0.00%	0.00%
Premiums Earned, Net [Abstract]
Gross Amount	$ 2,567	$ 1,882	$ 1,595
Ceded to other companies	(154)	(178)	(188)
Assumed from other companies	0	0	0
Net	$ 2,413	$ 1,704	$ 1,407
Percentage of amount assumed of net	0.00%	0.00%	0.00%
Life Insurance Premiums
Premiums Earned, Net [Abstract]
Gross Amount	$ 148	$ 160	$ 168
Ceded to other companies	(105)	(128)	(137)
Assumed from other companies	0	0	0
Net	$ 43	$ 32	$ 31
Percentage of amount assumed of net	0.00%	0.00%	0.00%
Life-contingent PRT Premiums
Premiums Earned, Net [Abstract]
Gross Amount	$ 1,964	$ 1,362	$ 1,146
Ceded to other companies	0	0	0
Assumed from other companies	0	0	0
Net	$ 1,964	$ 1,362	$ 1,146
Percentage of amount assumed of net	0.00%	0.00%	0.00%
Annuity product charges
Premiums Earned, Net [Abstract]
Gross Amount	$ 455	$ 360	$ 281
Ceded to other companies	(49)	(50)	(51)
Assumed from other companies	0	0
Net	$ 406	$ 310	$ 230
Percentage of amount assumed of net	0.00%	0.00%	0.00%

Revenue Recognition (Tables) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

Our revenue consists of:


			Year Ended December 31,
				2023		2022		2021
Revenue Stream	Income Statement Classification	Segment		Total Revenue
Revenue from insurance contracts:				(In millions)
Direct title insurance premiums	Direct title insurance premiums	Title		$	1,982	$	2,858	$	3,571
Agency title insurance premiums	Agency title insurance premiums	Title		2,610		3,976		4,982
Life insurance premiums, insurance and investment product fees, and other (1)	Escrow, title-related and other fees	F&G		2,413		1,704		1,407
Home warranty	Escrow, title-related and other fees	Title		143		165		185
Total revenue from insurance contracts				7,148		8,703		10,145
Revenue from contracts with customers:
Escrow fees	Escrow, title-related and other fees	Title		766		980		1,395
Other title-related fees and income	Escrow, title-related and other fees	Title		633		752		888
ServiceLink, excluding title premiums, escrow fees, and subservicing fees	Escrow, title-related and other fees	Title		313		342		396

Real estate technology	Escrow, title-related and other fees	Corporate and other		151		158		142


Total revenue from contracts with customers				1,863		2,232		2,821
Other revenue:
Loan subservicing revenue	Escrow, title-related and other fees	Title		262		263		364
Other	Escrow, title-related and other fees	Corporate and other		36		(31)		30
Interest and investment income	Interest and investment income	Various		2,607		1,891		1,961
Recognized gains and losses, net	Recognized gains and losses, net	Various		(164)		(1,493)		334
Total revenues	Total revenues			$	11,752	$	11,565	$	15,655
(1) Includes $1,964, $1,362 and 1,146 of life-contingent pension risk transfer premiums in 2023, 2022 and 2021, respectively.

Information about Trade Receivables and Deferred Revenue

The following table provides information about trade receivables and deferred revenue:


	December 31, 2023		December 31, 2022
	(In millions)
Trade receivables	$	317	$	349
Deferred revenue (contract liabilities)	91		93

Premium, Annuity Deposits and Funding Agreements (Net of Reinsurance) By Type


	Year ended
	December 31, 2023		December 31, 2022		December 31, 2021
Product Type	(In millions)
Fixed indexed annuities	$	4,738	$	4,483	$	4,420
Fixed rate annuities	1,147		1,522		878
Funding agreements (FABN/FHLB)	1,256		1,891		2,658

Life insurance and other (a)	646		446		329
Total	$	7,787	$	8,342	$	8,285

(a) Life insurance and other primarily includes indexed universal life insurance.

Revenue from contract with customer

$ 1,863

$ 2,232

$ 2,821

- Definition

Tabular disclosure of type of deposit liability.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (a)
-Publisher SEC

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
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-Section 1406
-Paragraph (a)
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
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Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
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Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
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Reference 15: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
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-Section 1406
-Paragraph (f)
-Subparagraph (2)(i)(iv)
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+ Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
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-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Recent Accounting Pronouncements

12 Months Ended

Dec. 31, 2023

Accounting Changes and Error Corrections [Abstract]

Recent Accounting Pronouncements

Adopted Pronouncements

In August 2018, the Financial Accounting Standards Board (“FASB”) issued ASU 2018-12, as clarified and amended by ASU 2019-09, Financial Services-Insurance: Effective Date and ASU 2020-11, Financial Services-Insurance: Effective Date and Early Application, effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. This update introduced the following requirements: assumptions used to measure cash flows for traditional and limited-payment contracts must be reviewed at least annually with the effect of changes in those assumptions being recognized in the statement of earnings; the discount rate applied to measure the liability for future policy benefits and limited-payment contracts must be updated at each reporting date with the effect of changes in the rate being recognized in accumulated other comprehensive income (loss) (“AOCI”); Market risk benefits (“MRB”) associated with deposit contracts must be measured at fair value, with the effect of the change in the fair value recognized in earnings, except for the change attributable to instrument-specific credit risk, which is recognized in AOCI; deferred acquisition costs are no longer required to be amortized in proportion to premiums, gross profits, or gross margins; instead, those balances must be amortized on a constant level basis over the expected term of the related contracts; deferred acquisition costs must be written off for unexpected contract terminations; and disaggregated roll forwards of beginning to ending balances of the liability for future policyholder benefits ("FPBs"), contractholder funds, MRBs, separate account liabilities and deferred acquisition costs, as well as information about significant inputs, judgments, assumptions, and methods used in measurement are required to be disclosed. We adopted this standard, which required the new guidance be applied as of the beginning of the earliest period presented or January 1, 2021, referred to as the transition date, and elected the full retrospective transition method. As a result of adoption, the Company recorded a cumulative-effect adjustment, which increased opening 2021 retained earnings by $75 million, net of tax.

The following table summarizes the balance of and changes in the FPB on January 1, 2021, due to adoption of ASU 2018-12:


	Immediate annuities		Traditional Life		Total (3)

Balance, December 31, 2020	$	1,861	$	2,144	$	4,005


Cumulative effect of retrospective adoption (1)	201		(279)		(78)
Effect of remeasurement of liability at current discount rate (2)	113		88		201
Balance, January 1, 2021	$	2,175	$	1,953	$	4,128
Less: Reinsurance Recoverable	322		793		1,115
Balance, January 1, 2021, net of reinsurance	$	1,853	$	1,160	$	3,013

(1) Adjustments for the cumulative effect of adoption of the new measurement guidance under the full retrospective method for contract issue years from the FNF Acquisition Date through December 31, 2020, net of the effects of any change in the DPL.
(2) The remeasurement of the liability at the current discount rate is reflected as an adjustment to opening AOCI upon the adoption of ASU 2018-12.
(3) PRT was not written as of the transition date, January 1, 2021, and as a result is not presented in the transition adjustment roll forward.

The following table summarizes the balance of and changes in VOBA on January 1, 2021 due to adoption of ASU 2018-12 (in millions):


	FIA		Fixed rate annuities		Immediate annuities		Universal Life		Traditional Life		Total
Balance, December 31, 2020	$	1,208	$	15	$	86	$	139	$	18	$	1,466
Adjustment for reversal of AOCI adjustments (1)	208		24		—		29		(29)		232
Cumulative effect of retrospective adoption (2)	(14)		7		(5)		(9)		(1)		(22)
Transition opening balance adjustment (3)	69		2		145		5		43		264
Balance, January 1, 2021	$	1,471	$	48	$	226	$	164	$	31	$	1,940

(1) Prior period "shadow" adjustments in AOCI have been reversed upon the adoption of ASU 2018-12 from opening AOCI.
(2) Adjustments for the cumulative effect of adoption of the simplified amortization methodology under the full retrospective method from the FNF Acquisition Date through December 31, 2020.
(3) Adjustments for the change in VOBA due to the full retrospective adjustment of carrying amounts of acquired contracts as of the FNF Acquisition Date due to the adoption of ASU 2018-12.

The following table summarizes the balance of and changes in DAC on January 1, 2021, due to adoption of ASU 2018-12 (in millions):


	FIA		Fixed rate annuities		Universal Life		Total
Balance, December 31, 2020	$	167	$	14	$	41	$	222
Adjustment for reversal of AOCI adjustments (1)	15		2		8		25
Cumulative effect of retrospective adoption (2)	(1)		—		(1)		(2)
Balance, January 1, 2021	$	181	$	16	$	48	$	245

(1) Prior period "shadow" adjustments in AOCI have been reversed upon the adoption of ASU 2018-12 from opening AOCI.
(2) Adjustments for the cumulative effect of adoption of the simplified amortization methodology under the full retrospective method for contract issue years from the FNF Acquisition Date through December 31, 2020.

The following table summarizes the balance of and changes in DSI on January 1, 2021, due to adoption of ASU 2018-12 (in millions):


	FIA		Total
Balance, December 31, 2020	$	36	$	36
Adjustment for reversal of AOCI adjustments (1)	5		5
Cumulative effect of retrospective adoption (2)	4		4
Balance, January 1, 2021	$	45	$	45

(1) Prior period "shadow" adjustments in AOCI have been reversed upon the adoption of ASU 2018-12 from opening AOCI.
(2) Adjustments for the cumulative effect of adoption of the simplified amortization methodology under the full retrospective method for contract issue years from the FNF Acquisition Date through December 31, 2020.

The following table summarizes the balance of and changes in URL on January 1, 2021, due to adoption of ASU 2018-12:


	Universal Life		Total
Balance, December 31, 2020	$	2	$	2
Adjustment for reversal of AOCI adjustments (1)	25		25
Cumulative effect of retrospective adoption (2)	2		2
Balance, January 1, 2021	$	29	$	29

(1) Prior period "shadow" adjustments in AOCI have been reversed upon the adoption of ASU 2018-12 from opening AOCI.
(2) Adjustments for the cumulative effect of adoption of the simplified amortization methodology under the full retrospective method for contract issue years from the FNF Acquisition Date through December 31, 2020.

The following table summarizes the balance of and changes in the asset and liability position of MRBs on January 1, 2021, due to adoption of ASU 2018-12:


	FIA		Fixed rate annuities		Total
Balance, December 31, 2020 - Carrying amount of MRBs under prior guidance (1)	$	531	$	—	$	531
Adjustment for reversal of AOCI adjustments (2)	(116)		—		(116)
Cumulative effect of the changes in the instrument-specific credit risk between the original contract issuance date and the transition date (3)	159		—		159
Remaining cumulative difference (exclusive of the instrument specific credit risk change) between December 31, 2020 carrying amount and fair value measurement for the MRBs (4)	(96)		1		(95)
Balance, January 1, 2021 - Market risk benefits at fair value	$	478	$	1	$	479
Less: Reinsurance Recoverable	—		—		—
Balance, January 1, 2021, net of reinsurance	$	478	$	1	$	479

(1) The pre-adoption balance as of December 31, 2020 balance for MRBs represents the contract features that meet the definition of an MRB under ASU 2018-12 and the related carrying amount of those features prior to the ASU. Those contract features were previously accounted for at fair value as a derivative or embedded derivative under ASC 815 or as an additional liability for annuitization benefits or death or other insurance benefits under ASC 944.
(2) Prior period "shadow" adjustments in AOCI have been reversed upon the adoption of ASU 2018-12 from opening AOCI.
(3) The cumulative effective of the change in instrument-specific credit risk between the FNF Acquisition Date or, if later, the original contract issuance date and the transition date to ASU 2018-12, which is recorded as an adjustment to opening AOCI.
(4) The cumulative difference (exclusive of instrument-specific credit risk change) between the pre-adoption carrying amount and the fair value measurement for MRBs is recorded as an adjustment to opening retained earnings.

The following table presents the effect of transition adjustments on Equity on January 1, 2021 due to the adoption of ASU 2018-12 (in millions):


	January 1, 2021
	Retained Earnings		AOCI
Contractholder funds	$	101	$	115
MRB	30		(160)
FPB	(14)		(159)
VOBA	(21)		233
DAC	(1)		5
Increase to Equity, gross of tax	$	95	$	34
Tax impact	20		9
Increase to Equity, net of tax	$	75	$	25

For MRBs, the transition adjustment reflected within the Consolidated Statements of Comprehensive Earnings relates to the cumulative effect of changes in the instrument-specific credit risk between contract issue date and transition date. The remaining difference between the fair value and carrying amount of the MRBs at transition, excluding the amounts recorded in the Consolidated Statements of Comprehensive Earnings, was recorded as an adjustment to Retained Earnings as of the transition date.

For the FPB, the net transition adjustment is primarily related to the difference in the discount rate used pre-transition and the discount rate at January 1, 2021, partially offset by the removal of provisions for adverse deviation from the cash flow assumptions used in the FPB calculation. At transition, we did not identify any instances, at the cohort level, where net premiums exceeded gross premiums.

Before the adoption of ASU 2018-12, VOBA was amortized consistent with DAC, which was amortized over the lives of the policies in relation to the expected emergence of estimated gross profits (“EGPs”). Based on our historical practice of using consistent amortization methods for VOBA and DAC, we elected to change the amortization method for VOBA associated with fixed rate annuities, FIAs, and IUL/Universal Life (“UL”) products to maintain consistency with the amortization method for DAC. At transition, VOBA associated with these product types is amortized on a constant level basis for the grouped contracts over the expected term of the related contracts to approximate straight-line amortization. Additionally, at transition, shadow adjustments previously recorded in the Consolidated Statements of Comprehensive Earnings, consistent with the historic amortization of DAC, have been removed.

For DAC, DSI and URL, we removed shadow adjustments previously recorded in the Consolidated Statements of Comprehensive Earnings for the impact of unrealized gains and losses that were included in the pre-transition expected gross profits amortization calculation as of the transition date.

In March 2022, the FASB issued ASU 2022-02, Financial Instruments-Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures. The amendments in this update eliminate the Troubled Debt Restructuring ("TDR") recognition and measurement guidance for creditors and, instead, require that an entity evaluate whether the modification represents a new loan or a continuation of an existing loan. The amendments also enhance existing disclosure requirements and introduce new requirements related to certain modifications of receivables made to borrowers experiencing financial difficulty. Additionally, these amendments require that an entity disclose current-period gross write-offs by year of origination for financing receivables and net investment in leases within the scope of Subtopic 326-20. The guidance is effective for entities that have adopted ASU 2016-13 Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments (Topic 326) for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, though early adoption is permitted. We adopted this standard as of January 1, 2023, and it did not have a material impact on our Consolidated Financial Statements and related disclosures upon adoption.

Pronouncements Not Yet Adopted

In June 2022, the FASB issued ASU 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions. The amendments in this update affect all entities that have investments in equity securities measured at fair value that are subject to a contractual sale restriction and clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The amendments also clarify that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction. Additionally, the amendments require the following disclosures for equity securities subject to contractual sale restrictions: the fair value of equity securities subject to contractual sale restrictions reflected in the balance sheet, the nature and remaining duration of the restriction(s), and the circumstances that could cause a lapse in the restriction(s). The amendments in this update do not change the principles of fair value measurement, rather, they clarify those

principles when measuring the fair value of an equity security subject to a contractual sale restriction and improve current GAAP by reducing diversity in practice, reducing the cost and complexity in measuring fair value, and increasing comparability of financial information across reporting entities that hold those investments. The amendments in this update are effective for public business entities for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years, though early adoption is permitted. We do not expect this guidance to have a material impact on our Consolidated Financial Statements and related disclosures upon adoption. We do not currently plan to early adopt this standard.

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The amendments in this update improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expense categories that are regularly provided to the chief operating decision maker (CODM) and included in each reported measure of a segment’s profit or loss. In addition, the amendments enhance interim disclosure requirements that are currently required annually, clarify circumstances in which an entity can disclose multiple segment measures of profit or loss, and contain other disclosure requirements. The amendments in this update are incremental to the current requirements of Topic 280 and do not change how a public entity identifies its operating segments, aggregates those operating segments, or applies the quantitative thresholds to determine its reportable segments. The enhanced segment disclosure requirements apply retrospectively to all prior periods presented in the financial statements. The significant segment expense and other segment item amounts disclosed in prior periods shall be based on the significant segment expense categories identified and disclosed in the period of adoption. The amendments in this update are effective for all public entities for fiscal years beginning after December 15, 2023, and interim periods beginning after December 15, 2024. Early adoption is permitted, and the updates must be applied retrospectively to all periods presented in the financial statements. We do not currently expect to early adopt this standard and are in the process of assessing its impact on our disclosures upon adoption.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The amendments in this update enhance the transparency of the income tax disclosures by expanding on the disclosures required annually. The amendments require entities to disclose in their rate reconciliation table additional categories of information about federal, state, and foreign income taxes, in addition to providing details about the reconciling items in some categories if above a quantitative threshold. Additionally, the amendments require annual disclosure of income taxes paid (net of refunds received) disaggregated by jurisdiction based on a quantitative threshold. The amendments in this update are effective for public business entities for annual periods beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The amendments should be applied on a prospective basis, and retrospective application is permitted. We do not currently expect to early adopt this standard and are in the process of assessing its impact on our disclosures upon adoption.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
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-Section 65
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Future Policy Benefits - Reconciliation of Net FPB to the Condensed Consolidated Balance Sheets (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	$ 7,050	$ 5,021	$ 4,918
Traditional Life
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	1,349	1,354	1,752
Immediate Annuities
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	1,415	1,429	1,954
Deferred profit liability	87	69	57	$ 22
PRT
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	4,189	2,165	1,148
Deferred profit liability	10	4	7	$ 0
Immediate annuities DPL
Liability for Future Policy Benefit, Activity [Line Items]
Deferred profit liability	87	69	57
PRT DPL
Liability for Future Policy Benefit, Activity [Line Items]
Deferred profit liability	$ 10	$ 4	$ 7

Income Taxes - Components Deferred Tax Asset and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Deferred Tax Assets:
Employee benefit accruals	$ 116	$ 104
Net operating loss carryforwards	84	38
Derivatives	0	67
Tax credits	119	74
Investment securities	686	952
Capital loss carryover	38	8
Life insurance and claim related adjustments	547	433
Funds held under reinsurance agreements	500	37
Bermuda corporate income tax net operating loss carryforward	24	0
Market Risk Benefits	61	32
Other	26	36
Total gross deferred tax asset	2,201	1,781
Less: valuation allowance	197	151
Total deferred tax asset	2,004	1,630
Deferred tax liabilities:
Title plant	(53)	(53)
Amortization of goodwill and intangible assets	(98)	(117)
Other	(8)	(2)
Depreciation	(29)	(32)
Partnerships	(152)	(122)
Value of business acquired	(304)	(339)
Deferred acquisition costs	(361)	(209)
Transition reserve on new reserve method	(17)	(25)
Funds held under reinsurance agreements	(621)	(187)
Title Insurance reserve discounting	(18)	(31)
Total deferred tax liability	(1,661)	(1,117)
Net deferred tax asset	$ 343	$ 513

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Income tax expense (benefit) on continuing operations consists of the following:


	Year Ended December 31,
	2023		2022		2021
	(In millions)
Current	$	241	$	331	$	656
Deferred	(49)		108		157
	$	192	$	439	$	813

Schedule of Components of Income Tax Expense (Benefit)

Total income tax expense was allocated as follows:


	Year Ended December 31,
	2023		2022		2021
	(In millions)
Net earnings from continuing operations	$	192	$	439	$	813

Other comprehensive earnings (loss):
Unrealized gain (loss) on investments and other financial instruments	275		(1,198)		(160)
Unrealized gain (loss) on foreign currency translation and cash flow hedging	2		(4)		—
Changes in current discount rate - future policy benefits	(50)		203		33
Changes in instrument - specific credit risk - market risk benefits	(9)		18		3
F&G 15% Distribution	(35)		9		—
Minimum pension liability adjustment	—		2		(2)
Total income tax expense (benefit) allocated to other comprehensive earnings	183		(970)		(126)

Total income tax expense (benefit)	$	375	$	(531)	$	687

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the federal statutory rate to our effective tax rate is as follows:


	Year Ended December 31,
	2023		2022		2021
Federal statutory rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal benefit	2.4		2.0		1.4



Stock compensation	(0.2)		(0.1)		(0.2)
Tax credits	(1.8)		(0.7)		(0.2)



Valuation allowance for deferred tax assets	5.0		5.4		(0.4)





Benefit on Capital Loss Carryback	—		(1.3)		—

Officers Compensation	1.2		0.4		0.2
Non-deductible expenses and other, net	0.1		(1.3)		1.0
Effective tax rate	27.7	%	25.4	%	22.8	%

Schedule of Deferred Tax Assets and Liabilities

The significant components of deferred tax assets and liabilities consist of the following:


	December 31,
	2023		2022
	(In millions)
Deferred Tax Assets:
Employee benefit accruals	$	116	$	104

Net operating loss carryforwards	84		38

Derivatives	—		67



Tax credits	119		74

Investment securities	686		952
Capital loss carryover	38		8

Life insurance and claim related adjustments	547		433
Funds held under reinsurance agreements	500		37
Market Risk Benefits	61		32
Bermuda corporate income tax net operating loss carryforward	24		—

Other	26		36
Total gross deferred tax asset	2,201		1,781
Less: valuation allowance	197		151
Total deferred tax asset	$	2,004	$	1,630
Deferred Tax Liabilities:
Title plant	$	(53)	$	(53)
Amortization of goodwill and intangible assets	(98)		(117)

Other	(8)		(2)

Depreciation	(29)		(32)
Partnerships	(152)		(122)
Value of business acquired	(304)		(339)


Deferred acquisition costs	(361)		(209)
Transition reserve on new reserve method	(17)		(25)
Funds held under reinsurance agreements	(621)		(187)
Title Insurance reserve discounting	(18)		(31)


Total deferred tax liability	$	(1,661)	$	(1,117)
Net deferred tax asset	$	343	$	513

Reconciliation of Beginning and Ending Unrecognized Tax Benefits

A reconciliation of the beginning and ending unrecognized tax benefits is as follows (in millions):


	Year ended December 31,
	2023		2022


Beginning balance	$	—	$	60

Additions based on positions taken in current year	—		1
Reductions related to IRS accepting refund, statute of limitation lapses and audit payments	—		(61)

Ending balance	$	—	$	—

Supplemental Cash Flow Information - Additional (Details)		12 Months Ended
	Dec. 01, 2022	Dec. 31, 2022	Dec. 31, 2021
Dividends Payable [Line Items]
Dividend to shareholders, pro rata percentage of common stock		15.00%	15.00%
F&G \| Fidelity National Financial Inc.
Dividends Payable [Line Items]
Dividend to shareholders, pro rata percentage of common stock	15.00%

Investments - Narrative (Details)	12 Months Ended
Investments - Narrative (Details)	Dec. 31, 2023 USD ($) loan	Dec. 31, 2022 USD ($) loan	Dec. 31, 2021 USD ($)
Debt Securities, Available-for-sale [Line Items]
Non-income producing investment fair value	$ 47,000,000	$ 27,000,000
Accrued interest receivable	481,000,000	365,000,000
FHLB collateral pledged	4,345,000,000	3,387,000,000
Available for sale securities, allowance for credit losses	42,000,000	39,000,000
Available-for-sale, securities in unrealized loss position, allowance for credit loss	$ 0
Commercial mortgage loans, percentage of investments	6.00%
DSC ratio, amortization period	25 years
Mortgage loans past due 90 days	$ 57,000,000	71,000,000
Gross investment income	2,864,000,000	2,088,000,000	$ 2,128,000,000
Reinsurance agreement, recognized gains (losses)	$ (123,000,000)	381,000,000	15,000,000
Debt Securities, Available-for-Sale, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration]	Prepaid expenses and other assets
Funds Withheld for Reinsurance
Debt Securities, Available-for-sale [Line Items]
Gross investment income	$ 339,000,000	$ 109,000,000	$ 53,000,000
90 days or more past due
Debt Securities, Available-for-sale [Line Items]
Mortgage loans in process of foreclosure	$ 41,000,000
Residential Mortgage
Debt Securities, Available-for-sale [Line Items]
Percentage of total investments	7.00%	5.00%
Loan charge offs	$ 0
Mortgage loans past due 90 days	57,000,000	$ 62,000,000
Commercial Mortgage
Debt Securities, Available-for-sale [Line Items]
Mortgage loans past due 90 days	$ 0	$ 9,000,000
United States
Debt Securities, Available-for-sale [Line Items]
Residential mortgage loans, location percentage	100.00%
Commercial mortgage loans
Debt Securities, Available-for-sale [Line Items]
Number of loans delinquent in principal or interest payments \| loan	0	0
Mortgage loans \| 90 days or more past due
Debt Securities, Available-for-sale [Line Items]
Mortgage loans in process of foreclosure		$ 38,000,000
Mortgage loans \| Residential Mortgage
Debt Securities, Available-for-sale [Line Items]
Allowance for expected credit loss, probability of loss/default model, projected loss, forecast period	2 years
Allowance for credit loss, probability of loss/default, using market historical loss experience, period	3 years
Mortgage loans \| Commercial Mortgage
Debt Securities, Available-for-sale [Line Items]
Allowance for expected credit loss, probability of loss/default model, projected loss, forecast period	2 years
Allowance for credit loss, probability of loss/default, using market historical loss experience, period	3 years
Fixed maturity securities, available-for-sale
Debt Securities, Available-for-sale [Line Items]
Assets held by insurance regulators	$ 141,000,000	$ 17,870,000,000

Employee Benefit Plans - F&G Omnibus Incentive Plan (Details) - shares	Jun. 01, 2020	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock outstanding (in shares)		1,875,395
F&G Omnibus Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for grant (in shares)	2,096,429
Options outstanding (in shares)		643,623	1,172,607	1,527,936	2,002,690
F&G Omnibus Plan \| Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for grant (in shares)	2,411,585
Award vesting period	3 years
Expiration period	7 years
F&G Omnibus Plan \| Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock outstanding (in shares)		181,479

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Dividends	12 Months Ended
Dividends	Dec. 31, 2023
Equity [Abstract]
Dividends	Dividends On February 14, 2024, our Board of Directors declared cash dividends of $0.48 per share, payable on March 29, 2024, to FNF common shareholders of record as of March 15, 2024. During the years ended December 31, 2023, 2022, and 2021 we declared dividends on our common stock of $1.83, $1.77, and $1.56 respectively.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 14
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
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-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 505
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-Name Accounting Standards Codification
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 505
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

+ Details

Other Intangible Assets - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
VOBA amortization	$ 169	$ 180	$ 195
DAC amortization	(186)	(99)	(46)
DSI amortization	22	14	7
Amortization of intangible assets	152	$ 134	$ 136
Expected amortization, 2024	126
Expected amortization, 2025	101
Expected amortization, 2026	78
Expected amortization, 2027	61
Expected amortization, 2028	$ 47

Employee Benefit Plans - Restricted Stock Activity (Details) - Restricted Stock - FNF Common Stock - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
The Omnibus Plan
Shares:
Restricted shares outstanding at beginning of period (in shares)	1,841,544	1,639,226	1,716,555
Granted (in shares)	966,093	994,548	772,189
Canceled (in shares)	(23,975)		(7,577)
Vested (in shares)	(908,267)	(792,230)	(841,941)
Restricted shares outstanding at end of period (in shares)	1,875,395	1,841,544	1,639,226
Weighted Average Grant Date Fair Value (in dollars per share):
Weighted average grant date fair value outstanding at beginning of period (USD per share)	$ 41.59	$ 41.97	$ 36.26
Granted (USD per share)	44.44	40.83	48.27
Canceled (USD per share)	41.42		37.20
Vested (USD per share)	40.26	41.44	36.15
Weighted average grant date fair value outstanding at end of period (USD per share)	$ 43.69	$ 41.59	$ 41.97
F&G Omnibus Plan
Shares:
Restricted shares outstanding at beginning of period (in shares)	501,548	718,641	449,870
Granted (in shares)	0	0	311,081
Canceled (in shares)	(15,965)	(78,551)	(12,437)
Vested (in shares)	(304,104)	(138,542)	(29,873)
Restricted shares outstanding at end of period (in shares)	181,479	501,548	718,641
Weighted Average Grant Date Fair Value (in dollars per share):
Weighted average grant date fair value outstanding at beginning of period (USD per share)	$ 42.31	$ 40.24	$ 34.11
Granted (USD per share)	0	0	48.28
Canceled (USD per share)	45.63	37.79	33.40
Vested (USD per share)	42.87	34.11	34.59
Weighted average grant date fair value outstanding at end of period (USD per share)	$ 41.08	$ 42.31	$ 40.24

Segment Information - Schedule of Segment Reporting Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Title premiums	$ 4,592	$ 6,834	$ 8,553
Escrow, title-related and other fees	4,717	4,333	4,807
Revenues from external customers	9,309	11,167	13,360
Interest and investment income, including recognized gains and losses	2,443	398	2,295
Total revenues	11,752	11,565	15,655
Depreciation and amortization	593	491	432
Interest expense	174	115	114
Earnings (loss) from continuing operations before income taxes and equity in earnings of unconsolidated affiliates	693	1,730	3,558
Income tax expense (benefit)	192	439	813
Earnings before equity in earnings of unconsolidated affiliates	501	1,291	2,745
Equity in earnings (loss) of unconsolidated affiliates	17	15	64
Earnings from continuing operations	518	1,306	2,809
Assets	80,614	65,143	61,330
Goodwill	4,830	4,635	4,532
Title \| Operating Segments
Segment Reporting Information [Line Items]
Title premiums	4,592	6,834	8,553
Escrow, title-related and other fees	2,117	2,502	3,228
Revenues from external customers	6,709	9,336	11,781
Interest and investment income, including recognized gains and losses	329	(230)	(284)
Total revenues	7,038	9,106	11,497
Depreciation and amortization	154	142	138
Interest expense	0	0	0
Earnings (loss) from continuing operations before income taxes and equity in earnings of unconsolidated affiliates	883	1,090	2,136
Income tax expense (benefit)	181	298	511
Earnings before equity in earnings of unconsolidated affiliates	702	792	1,625
Equity in earnings (loss) of unconsolidated affiliates	17	15	58
Earnings from continuing operations	719	807	1,683
Assets	7,949	8,295	9,663
Goodwill	2,789	2,620	2,517
F&G \| Operating Segments
Segment Reporting Information [Line Items]
Title premiums	0	0	0
Escrow, title-related and other fees	2,413	1,704	1,407
Revenues from external customers	2,413	1,704	1,407
Interest and investment income, including recognized gains and losses	2,087	645	2,567
Total revenues	4,500	2,349	3,974
Depreciation and amortization	412	324	271
Interest expense	97	29	29
Earnings (loss) from continuing operations before income taxes and equity in earnings of unconsolidated affiliates	(35)	793	1,552
Income tax expense (benefit)	23	158	320
Earnings before equity in earnings of unconsolidated affiliates	(58)	635	1,232
Equity in earnings (loss) of unconsolidated affiliates	0	0	0
Earnings from continuing operations	(58)	635	1,232
Assets	70,186	54,637	49,371
Goodwill	1,749	1,749	1,749
Corporate and Other \| Operating Segments
Segment Reporting Information [Line Items]
Title premiums	0	0	0
Escrow, title-related and other fees	187	127	172
Revenues from external customers	187	127	172
Interest and investment income, including recognized gains and losses	27	(17)	12
Total revenues	214	110	184
Depreciation and amortization	27	25	23
Interest expense	77	86	85
Earnings (loss) from continuing operations before income taxes and equity in earnings of unconsolidated affiliates	(155)	(153)	(130)
Income tax expense (benefit)	(12)	(17)	(18)
Earnings before equity in earnings of unconsolidated affiliates	(143)	(136)	(112)
Equity in earnings (loss) of unconsolidated affiliates	0	0	6
Earnings from continuing operations	(143)	(136)	(106)
Assets	2,479	2,211	2,296
Goodwill	$ 292	$ 266	$ 266

Financial Instruments with Off-Balance Sheet Risk and Concentration of Risk

12 Months Ended

Dec. 31, 2023

Risks and Uncertainties [Abstract]

Financial Instruments with Off-Balance Sheet Risk and Concentration of Risk

In the normal course of business, we and certain of our subsidiaries enter into off-balance sheet credit arrangements associated with certain aspects of the title insurance business and other activities.

We generate a significant amount of title insurance premiums in Texas, California, Florida, Pennsylvania and Illinois. Title insurance premiums as a percentage of the total title insurance premiums written from those five states are detailed as follows:


	2023		2022		2021
Texas	14.3	%	15.0	%	13.0	%
California	13.0	%	12.0	%	14.6	%
Florida	10.7	%	10.6	%	9.3	%
Illinois	6.0	%	5.3	%	5.1	%
Pennsylvania	4.9	%	5.2	%	5.1	%

Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash equivalents, short-term investments, and trade receivables.

We place cash equivalents and short-term investments with high credit quality financial institutions and, by policy, limit the amount of credit exposure with any one financial institution. Investments in commercial paper of industrial firms and financial institutions are rated investment grade by nationally recognized rating agencies.

Concentrations of credit risk with respect to trade receivables are limited because a large number of geographically diverse customers make up our customer base, thus spreading the trade receivables credit risk. We control credit risk through monitoring procedures.

Fair Value of Financial Instruments - Quantitative Information of Unobservable Inputs Used for Level Three Fair Value Measurements of Financial Instruments on Recurring Basis (Detail) $ in Millions	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value	$ 1,312	$ 1,112
Liabilities, fair value	4,661	3,397
Valuation, Market Approach \| Broker quoted/Market Comparable
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value	8,365	7,174
FIA embedded derivatives, included in contractholder funds \| Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Liabilities, fair value	$ 4,258	$ 3,115
FIA embedded derivatives, included in contractholder funds \| Discounted Cash Flow \| Surrender Rates \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
FIA/ IUL embedded derivatives, included in contractholder funds	0.0025	0.0025
FIA embedded derivatives, included in contractholder funds \| Discounted Cash Flow \| Surrender Rates \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
FIA/ IUL embedded derivatives, included in contractholder funds	0.7000	0.7000
FIA embedded derivatives, included in contractholder funds \| Discounted Cash Flow \| Surrender Rates \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
FIA/ IUL embedded derivatives, included in contractholder funds	0.0683	0.0657
FIA embedded derivatives, included in contractholder funds \| Discounted Cash Flow \| Partial Withdrawals \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
FIA/ IUL embedded derivatives, included in contractholder funds	0.0200	0.0200
FIA embedded derivatives, included in contractholder funds \| Discounted Cash Flow \| Partial Withdrawals \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
FIA/ IUL embedded derivatives, included in contractholder funds	0.3448	0.2941
FIA embedded derivatives, included in contractholder funds \| Discounted Cash Flow \| Partial Withdrawals \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
FIA/ IUL embedded derivatives, included in contractholder funds	0.0274	0.0273
FIA embedded derivatives, included in contractholder funds \| Discounted Cash Flow \| Non-Performance Spread \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
FIA/ IUL embedded derivatives, included in contractholder funds	0.0038	0.0048
FIA embedded derivatives, included in contractholder funds \| Discounted Cash Flow \| Non-Performance Spread \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
FIA/ IUL embedded derivatives, included in contractholder funds	0.0110	0.0144
FIA embedded derivatives, included in contractholder funds \| Discounted Cash Flow \| Non-Performance Spread \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
FIA/ IUL embedded derivatives, included in contractholder funds	0.0096	0.0130
FIA embedded derivatives, included in contractholder funds \| Discounted Cash Flow \| Market Value of Option \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
FIA/ IUL embedded derivatives, included in contractholder funds	0.0000	0.0000
FIA embedded derivatives, included in contractholder funds \| Discounted Cash Flow \| Market Value of Option \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
FIA/ IUL embedded derivatives, included in contractholder funds	0.1893	0.2390
FIA embedded derivatives, included in contractholder funds \| Discounted Cash Flow \| Market Value of Option \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
FIA/ IUL embedded derivatives, included in contractholder funds	0.0263	0.0087
FIA embedded derivatives, included in contractholder funds \| Discounted Cash Flow \| Mortality Multiplier \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
FIA/ IUL embedded derivatives, included in contractholder funds	1.0000	1.0000
FIA embedded derivatives, included in contractholder funds \| Discounted Cash Flow \| Mortality Multiplier \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
FIA/ IUL embedded derivatives, included in contractholder funds	1.0000	1.0000
FIA embedded derivatives, included in contractholder funds \| Discounted Cash Flow \| Mortality Multiplier \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
FIA/ IUL embedded derivatives, included in contractholder funds	1.0000	1.0000
FIA embedded derivatives, included in contractholder funds \| Discounted Cash Flow \| Option cost \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
FIA/ IUL embedded derivatives, included in contractholder funds	0.0007	0.0007
FIA embedded derivatives, included in contractholder funds \| Discounted Cash Flow \| Option cost \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
FIA/ IUL embedded derivatives, included in contractholder funds	0.0548	0.0497
FIA embedded derivatives, included in contractholder funds \| Discounted Cash Flow \| Option cost \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
FIA/ IUL embedded derivatives, included in contractholder funds	0.0238	0.0189
FIA embedded derivatives, included in contractholder funds \| Discounted Cash Flow \| Swap rates \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
FIA/ IUL embedded derivatives, included in contractholder funds	0.0384	0.0388
FIA embedded derivatives, included in contractholder funds \| Discounted Cash Flow \| Swap rates \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
FIA/ IUL embedded derivatives, included in contractholder funds	0.0526	0.0473
FIA embedded derivatives, included in contractholder funds \| Discounted Cash Flow \| Swap rates \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
FIA/ IUL embedded derivatives, included in contractholder funds	0.0455	0.0431
Asset-backed securities \| Third-Party Valuation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value	$ 57	$ 91
Asset-backed securities \| Third-Party Valuation \| Discount rate \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	0.0509	0.0523
Asset-backed securities \| Third-Party Valuation \| Discount rate \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	0.0695	0.0898
Asset-backed securities \| Third-Party Valuation \| Discount rate \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	0.0600	0.0607
Corporates \| Third-Party Valuation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value	$ 787	$ 796
Corporates \| Third-Party Valuation \| Discount rate \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	0.0000	0.0475
Corporates \| Third-Party Valuation \| Discount rate \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	0.1287	0.1245
Corporates \| Third-Party Valuation \| Discount rate \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	0.0691	0.0722
Corporates \| Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value	$ 8	$ 12
Corporates \| Discounted Cash Flow \| Discount rate \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	0.4400	0.4400
Corporates \| Discounted Cash Flow \| Discount rate \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	1.0000	1.0000
Corporates \| Discounted Cash Flow \| Discount rate \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	0.7520	0.7702
States, municipalities and political subdivisions \| Third-Party Valuation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value	$ 32	$ 29
States, municipalities and political subdivisions \| Third-Party Valuation \| Discount rate \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	0.0625	0.0762
States, municipalities and political subdivisions \| Third-Party Valuation \| Discount rate \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	0.0625	0.0762
States, municipalities and political subdivisions \| Third-Party Valuation \| Discount rate \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	0.0625	0.0762
Residential mortgage-backed securities \| Third-Party Valuation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value	$ 3
Residential mortgage-backed securities \| Third-Party Valuation \| Discount rate \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	0.0546
Residential mortgage-backed securities \| Third-Party Valuation \| Discount rate \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	0.0546
Residential mortgage-backed securities \| Third-Party Valuation \| Discount rate \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	0.0546
Foreign Governments \| Third-Party Valuation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value	$ 16	$ 16
Foreign Governments \| Third-Party Valuation \| Discount rate \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	0.0694	0.0599
Foreign Governments \| Third-Party Valuation \| Discount rate \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	0.0768	0.0628
Foreign Governments \| Third-Party Valuation \| Discount rate \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	0.0745	0.0619
Investment in unconsolidated affiliates \| Valuation, Market Approach \| EBITDA multiple \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity Method Investment, Measurement Input	4.4
Investment in unconsolidated affiliates \| Valuation, Market Approach \| EBITDA multiple \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity Method Investment, Measurement Input	31.8
Investment in unconsolidated affiliates \| Valuation, Market Approach \| EBITDA multiple \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity Method Investment, Measurement Input	23.2
Investment in unconsolidated affiliates \| Affiliate \| Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value	$ 285	$ 23
Investment in unconsolidated affiliates \| Affiliate \| Valuation, Market Approach \| EBITDA multiple \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investment in unconsolidated affiliates		5
Investment in unconsolidated affiliates \| Affiliate \| Valuation, Market Approach \| EBITDA multiple \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investment in unconsolidated affiliates		5.50
Preferred securities \| Affiliate \| Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value	$ 1	$ 1
Preferred securities \| Affiliate \| Discounted Cash Flow \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity/ Preferred securities	1.0000	1.0000
Equity securities \| Affiliate \| Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value	$ 7	$ 4
Equity securities \| Affiliate \| Discounted Cash Flow \| Discount rate \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity/ Preferred securities	0.1150	0.1110
Equity securities \| Affiliate \| Discounted Cash Flow \| Discount rate \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity/ Preferred securities	0.1150	0.1110
Equity securities \| Affiliate \| Discounted Cash Flow \| Discount rate \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity/ Preferred securities	0.1150	0.1110
Available-for-sale embedded derivative \| Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value	$ 28	$ 23
Available-for-sale embedded derivative \| Black Scholes model \| Market Value of Fund
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale embedded derivative	1.0000	1.0000
Market risk benefits asset \| Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value	$ 88	$ 117
Market risk benefits asset \| Discounted Cash Flow \| Mortality \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	1.0000	1.0000
Market risk benefits asset \| Discounted Cash Flow \| Mortality \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	1.0000	1.0000
Market risk benefits asset \| Discounted Cash Flow \| Mortality \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	1.0000	1.0000
Market risk benefits asset \| Discounted Cash Flow \| Surrender Rates \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.0025	0.0025
Market risk benefits asset \| Discounted Cash Flow \| Surrender Rates \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.1000	0.1000
Market risk benefits asset \| Discounted Cash Flow \| Surrender Rates \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.0522	0.0469
Market risk benefits asset \| Discounted Cash Flow \| Partial Withdrawals \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0	0.0200
Market risk benefits asset \| Discounted Cash Flow \| Partial Withdrawals \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.2326	0.2174
Market risk benefits asset \| Discounted Cash Flow \| Partial Withdrawals \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.0250	0.0249
Market risk benefits asset \| Discounted Cash Flow \| Non-Performance Spread \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.0038	0.0048
Market risk benefits asset \| Discounted Cash Flow \| Non-Performance Spread \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.0110	0.0144
Market risk benefits asset \| Discounted Cash Flow \| Non-Performance Spread \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.0096	0.0130
Market risk benefits asset \| Discounted Cash Flow \| GMWB Utilization \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.5000	0.5000
Market risk benefits asset \| Discounted Cash Flow \| GMWB Utilization \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.6000	0.6000
Market risk benefits asset \| Discounted Cash Flow \| GMWB Utilization \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.5081	0.5094
Market Risk benefits liability \| Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Liabilities, fair value	$ 403	$ 282
Market Risk benefits liability \| Discounted Cash Flow \| Mortality \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	1.0000	1.0000
Market Risk benefits liability \| Discounted Cash Flow \| Mortality \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	1.0000	1.0000
Market Risk benefits liability \| Discounted Cash Flow \| Mortality \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	1.0000	1.0000
Market Risk benefits liability \| Discounted Cash Flow \| Surrender Rates \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.0025	0.0025
Market Risk benefits liability \| Discounted Cash Flow \| Surrender Rates \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.1000	0.1000
Market Risk benefits liability \| Discounted Cash Flow \| Surrender Rates \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.0522	0.0469
Market Risk benefits liability \| Discounted Cash Flow \| Partial Withdrawals \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0	0.0200
Market Risk benefits liability \| Discounted Cash Flow \| Partial Withdrawals \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.2326	0.2174
Market Risk benefits liability \| Discounted Cash Flow \| Partial Withdrawals \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.0250	0.0249
Market Risk benefits liability \| Discounted Cash Flow \| Non-Performance Spread \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.0038	0.0048
Market Risk benefits liability \| Discounted Cash Flow \| Non-Performance Spread \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.0110	0.0144
Market Risk benefits liability \| Discounted Cash Flow \| Non-Performance Spread \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.0096	0.0130
Market Risk benefits liability \| Discounted Cash Flow \| GMWB Utilization \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.5000	0.5000
Market Risk benefits liability \| Discounted Cash Flow \| GMWB Utilization \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.6000	0.6000
Market Risk benefits liability \| Discounted Cash Flow \| GMWB Utilization \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Market risk benefit	0.5081	0.5094