Index First American Profile Financial Highlights Letter to Stockholders First American's Strength in Numbers Title Information and Services Real Estate Information and Services Consumer Information and Services Management's Discussion and Analysis Selected Financial Data Common Stock Prices and Dividends Quarterly Financial Data Consolidated Balance Sheets Consolidated Statements of Income Consolidated Statements of Stockholders' Equity Consolidated Statements of Cash Flows Notes to Consolidated Financial Statements Report of Independent Accountants Officers Board of Directors Primary Companies Stockholder Information Back Cover

 SELECTED FINANCIAL DATA

	Year Ended December 31
(in thousands, except percentages, per share amounts and employee data)	2001					2000		1999		1998		1997
Revenues	$	3,750,723		$	2,934,255	$	2,988,169	$	2,943,880	$	1,962,001
Income before cumulative effect of a change in
accounting for tax service contracts (Note A)	$	167,268		$	82,223	$	88,643	$	201,527	$	67,765
Cumulative effect of a change in accounting for
tax service contracts (Note A)		–			–	$	(55,640	)	–		–
Net income	$	167,268		$	82,223	$	33,003	$	201,527	$	67,765
Total assets	$	2,837,263		$	2,199,737	$	2,116,414	$	1,852,731	$	1,220,377
Notes and contracts payable	$	415,341		$	219,838	$	196,815	$	143,466	$	51,720
Mandatorily redeemable preferred securities	$	100,000		$	100,000	$	100,000	$	100,000	$	100,000
Stockholders’ equity	$	1,104,452		$	870,237	$	815,991	$	762,265	$	442,783
Return on average stockholders’ equity (Note B)		16.9	%		9.8	%	10.9	%	33.4	%	16.4	%
Cash dividends on common shares	$	18,210		$	15,256	$	15,840	$	13,894	$	14,035
Per share of common stock (Note C) —
Basic:
Income before cumulative effect of a change
in accounting for tax service contracts	$	2.51		$	1.29	$	1.37	$	3.35	$	1.19
Cumulative effect of a change in accounting
for tax service contracts		–			–		(.86	)	–		–
Net income	$	2.51		$	1.29	$	.51	$	3.35	$	1.19
Diluted:
Income before cumulative effect of a change
in accounting for tax service contracts	$	2.27		$	1.24	$	1.34	$	3.21	$	1.16
Cumulative effect of a change in accounting
for tax service contracts		–			–		(.84	)	–		–
Net income	$	2.27		$	1.24	$	.50	$	3.21	$	1.16
Stockholders’ equity	$	16.08		$	13.62	$	12.54	$	12.08	$	7.74
Cash dividends	$	.27		$	.24	$	.24	$	.23	$	.25
Number of common shares outstanding —
Weighted average during the year:
Basic		66,568			63,680		64,669		60,194		57,092
Diluted		75,834			66,050		66,351		62,720		58,482
End of year		68,694			63,887		65,068		63,120		57,186
Title orders opened (Note D)		1,930			1,241		1,334		1,585		1,173
Title orders closed (Note D)		1,405			975		1,120		1,210		886
Number of employees		22,597			20,346		20,065		19,669		13,156

All consolidated results reflect the 1999 acquisition of NAIG accounted for under the pooling-of-interests method of accounting.
Note A	—	See Note 1 to the consolidated financial statements for a description of the change in accounting for tax service contracts.
Note B	—	Return on average stockholders’ equity for 1999 excludes the cumulative effect of a change in accounting for tax service contracts from both net income and stockholders’ equity.
Note C	—	Per share information relating to net income is based on weighted-average number of shares outstanding for the years presented. Per share information relating tostockholders’ equity is based on shares outstanding at the end of each year.
Note D	—	Title order volumes are those processed by the direct title operations of the Company and do not include orders processed by agents.