First American Financial Corp (FAF) [Rocket]

In millions, except per share items	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15	Dec-31-14
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Corporate, Non-Segment	362.0	21.0	22.0
Title Insurance and Services	8,320.0	6,535.0	5,676.0	5,282.8	5,293.2	5,134.1	4,788.1	4,304.4
Specialty Insurance	541.0	532.0	506.0	469.3	465.0	435.8	393.8	368.7
Corporate	362.0	21.0	22.0		15.3	5.9		6.4
Total revenues [+]	9,221.0	7,086.0	6,202.0	5,747.8	5,772.4	5,575.8	5,175.5	4,677.9
Net interest income	1.0		2.0	0.1	0.6	0.1	0.0	10.5
Net investment income	215.0	221.0	316.0	230.3	162.4	126.1	100.6	71.0
Revenue growth [+]	30.1%	14.3%	7.9%	-0.4%	3.5%	7.7%	10.6%	-5.6%
Corporate, Non-Segment	1623.8%	-4.5%
Title Insurance and Services	27.3%	15.1%	7.4%	-0.2%	3.1%	7.2%	11.2%	-6.5%
Specialty Insurance	1.7%	5.1%	7.8%	0.9%	6.7%	10.7%	6.8%	8.6%
Corporate	1623.8%	-4.5%			157.8%			-50.7%
Cost of goods sold	2,350.0	1,941.0	1,806.0	1,748.9	1,723.5	1,655.2	1,594.9	1,435.6
Gross profit	6,871.0	5,145.0	4,396.0	3,998.9	4,048.8	3,920.7	3,580.5	3,242.3
Gross margin	74.5%	72.6%	70.9%	69.6%	70.1%	70.3%	69.2%	69.3%
Selling, general and administrative [+]	2,987.0	2,184.0	1,874.0	1,799.8	1,863.4	1,801.6	1,656.7	1,472.1
Sales and marketing	2,987.0	2,184.0	1,874.0	1,799.8	1,863.4	1,801.6	1,656.7	1,472.1
Other operating expenses	2,012.0	1,777.0	1,440.0	1,422.6	1,576.1	1,510.3	1,376.3	1,314.9
EBITDA [+]	1,872.0	1,184.0	1,082.0	776.4	609.4	608.8	547.5	455.4
EBITDA growth	58.1%	9.4%	39.4%	27.4%	0.1%	11.2%	20.2%	121.2%
EBITDA margin	20.3%	16.7%	17.4%	13.5%	10.6%	10.9%	10.6%	9.7%
Depreciation	107.0	106.0	101.0	95.5	100.0	83.6	76.3	73.0
EBITA	1,765.0	1,078.0	981.0	680.9	509.4	525.2	471.2	382.4
EBITA margin	19.1%	15.2%	15.8%	11.8%	8.8%	9.4%	9.1%	8.2%
Amortization of intangibles	51.0	43.0	28.0	30.4	28.1	15.4	9.3	12.6
EBIT [+]	1,714.0	1,035.0	953.0	650.5	481.3	509.8	461.9	369.8
EBIT growth	65.6%	8.6%	46.5%	35.2%	-5.6%	10.4%	24.9%	182.5%
EBIT margin	18.6%	14.6%	15.4%	11.3%	8.3%	9.1%	8.9%	7.9%
Non-recurring items [+]		55.0
Asset impairment		55.0
Interest expense	72.0	57.0	48.0	41.0	36.0	32.2	29.1	19.2
Interest expense	72.0	57.0	48.0	41.0	36.0	32.2	29.1	19.2
Pre-tax income	1,642.0	923.0	905.0	609.5	445.3	477.6	432.8	350.6
Income taxes	393.0	223.0	195.0	133.6	23.5	134.1	143.9	116.3
Tax rate	23.9%	24.2%	21.5%	21.9%	5.3%	28.1%	33.3%	33.2%
Minority interest	8.0	4.0	3.0	1.4	-1.2	0.5	0.8	0.7
Net income	1,241.0	696.0	707.0	474.5	423.0	343.0	288.1	233.5
Net margin	13.5%	9.8%	11.4%	8.3%	7.3%	6.2%	5.6%	5.0%

Basic EPS [+]	$11.18	$6.18	$6.25	$4.21	$3.79	$3.10	$2.66	$2.18
Growth	81.0%	-1.2%	48.4%	11.2%	22.1%	16.8%	21.6%	25.4%
Diluted EPS [+]	$11.14	$6.16	$6.22	$4.19	$3.76	$3.09	$2.62	$2.15
Growth	80.9%	-0.9%	48.4%	11.3%	21.9%	17.6%	22.1%	25.8%

Dividends per share [+]	$1.94	$1.78	$1.68	$1.60	$1.44	$1.20	$1.00	$0.84
Growth	9.0%	6.0%	5.0%	11.1%	20.0%	20.0%	19.0%	75.0%

Shares outstanding (basic) [+]	111.0	112.7	113.1	112.6	111.7	110.5	108.4	106.9
Growth	-1.5%	-0.4%	0.4%	0.8%	1.0%	2.0%	1.4%	-0.1%
Shares outstanding (diluted) [+]	111.4	113.0	113.7	113.3	112.4	111.2	109.8	108.7
Growth	-1.4%	-0.6%	0.4%	0.8%	1.2%	1.2%	1.0%	-0.4%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.