FNF — what changed in the latest 10-Q
A section-by-section comparison of FNF's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-05-08 vs the prior 10-Q · 2025-11-10
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +81 | −94 | ~67 | 67 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~1 | 0 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 1 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Legal proceedings
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-05-08
Following a decline in inflation in 2024, the Federal Reserve reduced the target range for the federal funds rate to 4.25%–4.50%, where it remained as of March 31, 2025. After additional rate cuts during 2025, the Federal Reserve maintained the federal funds rate at a target range of 3.50%–3.75% as …
Earnings before income taxes and equity in earnings of unconsolidated affiliates498 111
Total revenues increased by $497 million in the three months ended March 31, 2026 compared to the corresponding period in 2025.
Net earnings increased by $238 million in the three months ended March 31, 2026 compared to corresponding period in 2025.
Income tax expense was $175 million and $29 million in the three months ended March 31, 2026 and 2025, respectively. Income tax expense attributable to increases in our valuation allowance were $17 million and $4 million in the three months ended March 31, 2026 and 2025, respectively. Income tax exp…
Text removed vs the prior filing · source: 10-Q · 2025-11-10
On June 11, 2025, the Company effected a redomestication of the Company from the State of Delaware to the State of Nevada (the “Redomestication”). As of June 11, 2025, the affairs of the Company ceased to be governed by the Delaware General Corporation Law and the Company adopted a new certificate o…
Following a decline in inflation in 2024, the Federal Reserve reduced the benchmark rate to a range of 4.25% and 4.50% as of December 31, 2024. The Federal Reserve further reduced the benchmark rate to a range of 4.00% and 4.25% in September 2025. Average interest rates for a 30-year fixed rate mort…
Three months ended September 30,Nine months ended September 30,
Earnings before income taxes and equity in earnings of unconsolidated affiliates453 313 946 1,102
Total revenues increased by $427 million in the three months ended September 30, 2025 and increased by $334 million in the nine months ended September 30, 2025 as compared to the corresponding periods in 2024.
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice