Erie Indemnity Company (ERIE) Financial Statements (2024 and earlier)

Company Profile

Business Address 100 ERIE INSURANCE PL
ERIE, PA 16530
State of Incorp. PA
Fiscal Year End December 31
Industry (SIC) 6411 - Insurance Agents, Brokers, and Service (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments8224381835681
Cash and cash equivalents      266
Short-term investments8224381835414
Restricted cash and investments      
Receivables625525479497469458
Other undisclosed current assets22323024621738730
Total current assets:9307797647328911,169
Noncurrent Assets
Long-term investments and receivables1,0221,0031,054973725381
Long-term investments963943995911725381
Accounts and financing receivable, after allowance for credit loss58615962  
Deferred income tax assets   01217
Other noncurrent assets434349409762
Other undisclosed noncurrent assets477414375359286167
Total noncurrent assets:1,5421,4611,4781,3851,125609
TOTAL ASSETS:2,4722,2392,2422,1172,0161,778
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:176166138151135111
Interest and dividends payable52484542
Employee-related liabilities2112
Accrued liabilities418358271262263242
Other undisclosed accounts payable and accrued liabilities(242)(192)(186)(161)(174)(174)
Deferred revenue4137353736
Debt   2222
Deferred compensation liability111213171113
Contract with customer, liability34
Other undisclosed current liabilities481451443421404387
Total current liabilities:709665631628588547
Noncurrent Liabilities
Long-term debt and lease obligation   92949698
Long-term debt, excluding current maturities   92949698
Liabilities, other than long-term debt100126177208199160
Deferred revenue2018181918
Contract with customer, liability18
Deferred compensation liability, classified211415151413
Deferred income tax liabilities1114   
Liability, pension and other postretirement and postemployment benefits2651130164146117
Other liabilities22291492212
Total noncurrent liabilities:100126269301295258
Total liabilities:809791900929883805
Equity
Equity, attributable to parent, including:1,6631,4481,3421,1881,133974
Treasury stock, value(1,169)(1,169)(1,168)(1,164)(1,159)(1,158)
Additional paid in capital161616161616
Accumulated other comprehensive loss(13)(7)(25)(78)(117)(130)
Retained earnings2,8042,5832,4952,3942,3782,231
Other undisclosed equity, attributable to parent252524201514
Total equity:1,6631,4481,3421,1881,133974
TOTAL LIABILITIES AND EQUITY:2,4722,2392,2422,1172,0161,778

Income Statement (P&L) ($ in millions)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues3,2692,8402,6342,5362,4772,382
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
    (0)  
Gross profit:3,2692,8402,6342,5362,4772,382
Operating expenses(2,749)(2,464)(2,316)(2,198)(2,120)(2,038)
Other undisclosed operating income    0  
Operating income:520376318338357344
Nonoperating income12062314029
Investment income, nonoperating(0)(1)67334026
Other nonoperating income (expense)132(5)(2)04
Interest and debt expense  (2)(4)(1)(1)(2)
Income from continuing operations before equity method investments, income taxes:533375376369397371
Other undisclosed income from continuing operations before income taxes292    
Income from continuing operations before income taxes:562376376369397371
Income tax expense(116)(78)(79)(75)(80)(83)
Income from continuing operations:446299298293317288
Income before gain (loss) on sale of properties:298293317288
Net income available to common stockholders, diluted:446299298293317288

Comprehensive Income ($ in millions)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:446299298293317288
Other comprehensive income (loss) (43)978925245
Other undisclosed comprehensive loss      
Comprehensive income:403395386319319334
Other undisclosed comprehensive income (loss), net of tax, attributable to parent37(79)(36)1311(20)
Comprehensive income, net of tax, attributable to parent:440316351332330314

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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