First American Financial 2026年季度报告

(Mark One)☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934For the quarterly period ended June 30, 2026OR☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934For the transition period from ______ to ______Commission file number: 001-34580 FIRST AMERICAN FINANCIALCORPORATION (Exact name of registrant as specified in its charter) 1 First American Way, Santa Ana, California92707-5913(Address of principal executive offices)(Zip Code) Securities registered pursuant to Section 12(b) of the Act: Name of each exchange on which registeredNew York Stock Exchange Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) ofthe Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrantwas required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or forsuch shorter period that the registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer,a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,”“accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the ExchangeAct. Large accelerated filer☒Accelerated filer☐Non-accelerated filer☐Smaller reporting company☐Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extendedtransition period for complying with any new or revised financial accounting standards provided pursuant to Section13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒ Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latestpracticable date. On July 20, 2026 there were 102.1 million shares of common stock outstanding. FIRST AMERICAN FINANCIAL CORPORATIONAND SUBSIDIARY COMPANIESINFORMATION INCLUDED IN REPORT PART I: FINANCIAL INFORMATION Item 1.Financial Statements (unaudited)A. Condensed Consolidated Balance Sheets as of June 30, 2026 andDecember 31, 20255B. Condensed Consolidated Statements of Income for the three and sixmonths ended June 30, 2026 and 20256C. Condensed Consolidated Statements of Comprehensive Income for thethree and six months ended June 30, 2026 and 20257D. Condensed Consolidated Statements of Stockholders’ Equity for each ofthe quarters within the six months ended June 30, 2026 and 20258E. Condensed Consolidated Statements of Cash Flows for the three and sixmonths ended June 30, 2026 and 202510F. Notes to Condensed Consolidated Financial Statements11Item 2.Management’s Discussion and Analysis of Financial Condition and Resultsof Operations32Item 3.Quantitative and Qualitative Disclosures About Market Risk41Item 4.Controls and Procedures41PART II: OTHER INFORMATIONItem 1.Legal Proceedings42Item1A.Risk Factors42Item 2.Unregistered Sales of Equity Securities and Use of Proceeds43Item 3.Defaults Upon Senior Securities43Item 4.Mine Safety Disclosures43Item 5.Other Information43Item 6.Exhibits44 THISQUARTERLY REPORT ON FORM 10-Q CONTAINS FORWARD-LOOKINGSTATEMENTS WITHIN THE MEANING OF SECTION 27A OF THE SECURITIES ACT OF1933, AS AMENDED, AND SECTION 21E OF THE SECURITIES EXCHANGE ACT OF 1934,AS AMENDED. THESE FORWARD-LOOKING STATEMENTS CAN BE IDENTIFIED BY THEFACT THAT THEY DO NOT RELATE STRICTLY TO HISTORICAL OR CURRENT FACTS ANDMAY CONTAIN THE WORDS “BELIEVE,” “ANTICIPATE,” “EXPECT,” “INTEND,” “PLAN,”“PREDICT,” “ESTIMATE,” “PROJECT,” “WILL BE,” “WILL CONTINUE,” “WILL LIKELYRESULT,” OR OTHER SIMILAR WORDS AND PHRASES OR FUTURE OR CONDITIONALVERBS SUCH AS “WILL,” “MAY,” “MIGHT,” “SHOULD,” “WOULD,” OR “COULD.”THESEFORWARD-LOOKINGSTATEMENTSINCLUDE,WITHOUTLIMITATION,STATEMENTSREGARDINGFUTUREOPERATIONS,PERFORMANCE,FINANCIALCONDITION,PROSPECTS,PLANS AND STRATEGIES.THESE FORWARD-LOOKINGSTATEMENTS ARE BASED ON CURRENT EXPECTATIONS AND ASSUMPTIONS THAT MAYPROVE TO BE INCORRECT. RISKSAND UNCERTAINTIES EXIST THAT MAY CAUSE RESULTS TO DIFFERMATERIALLY FROM THOSE SET FORTH IN THESE FORWARD-LOOKING STATEMENTS.FACTORS THAT COULD CAUSE THE ANTICIPATED RESULTS TO DIFFER FROM THOSEDESCRIBEDINTHEFORWARD-LOOKINGSTATEMENTSINCLUDE,WITHOUTLIMITATION: •INTEREST RATE FLUCTUATIONS;•CHANGES IN CONDITIONS OF THE REAL ESTATE MARKETS;•VOLATILITY IN THE CAPITAL MARKETS;•UNFAVORABLE ECONOMIC CONDITIONS;•IMPAIRMENTS IN THE COMPANY’S GOODWILL OR OTHER INTANGIBLEASSETS;•FAILURES AT FINANCIAL INSTITUTIONS WHERE THE COMPANY DEPOSITSFUNDS;•R