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)
Annual | Quarterly

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments24381835681287
Cash and cash equivalents     266216
Short-term investments2438183541471
Receivables525479497469458473
Other undisclosed current assets2302462173873042
Total current assets:7797647328911,169802
Noncurrent Assets
Long-term investments and receivables1,0031,054973725381733
Long-term investments943995911725381733
Accounts and financing receivable, after allowance for credit loss615962   
Deferred income tax assets  01217✕✕
Other noncurrent assets434940976229
Other undisclosed noncurrent assets414375359286167103
Total noncurrent assets:1,4611,4781,3851,125609864
TOTAL ASSETS:2,2392,2422,1172,0161,7781,666
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:166138151135111105
Interest and dividends payable✕✕5248454239
Employee-related liabilities✕✕21120
Accrued liabilities358271262263242228
Other undisclosed accounts payable and accrued liabilities(192)(186)(161)(174)(174)(163)
Deferred revenue37353736✕✕
Debt  2222 
Deferred compensation liability121317111316
Liability for uncertainty in income taxes      2
Contract with customer, liability✕✕✕✕✕34✕
Other undisclosed current liabilities451443421404387387
Total current liabilities:665631628588547510
Noncurrent Liabilities
Long-term debt and lease obligation  9294969875
Long-term debt, excluding current maturities  9294969875
Liabilities, other than long-term debt126177208199160224
Deferred revenue18181918✕✕
Contract with customer, liability✕✕✕✕✕18✕
Deferred compensation liability, classified141515141314
Deferred income tax liabilities14   ✕✕
Liability, pension and other postretirement and postemployment benefits51130164146117208
Other liabilities2914922121
Total noncurrent liabilities:126269301295258299
Total liabilities:791900929883805809
Equity
Equity, attributable to parent, including:1,4481,3421,1881,133974857
Treasury stock, value(1,169)(1,168)(1,164)(1,159)(1,158)(1,156)
Additional paid in capital161616161616
Accumulated other comprehensive loss(7)(25)(78)(117)(130)(156)
Retained earnings2,5832,4952,3942,3782,2312,141
Other undisclosed equity, attributable to parent252420151412
Total equity:1,4481,3421,1881,133974857
TOTAL LIABILITIES AND EQUITY:2,2392,2422,1172,0161,7781,666

Income Statement (P&L) ($ in millions)
Annual | Quarterly

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues2,8402,6342,5362,4772,3821,692
Financial services revenue✕✕✕✕✕✕1,692
Cost of revenue
(Provision for Loan, Lease, and Other Losses)		   (0)   
Gross profit:2,8402,6342,5362,4772,3821,692
Operating expenses(2,464)(2,316)(2,198)(2,120)(2,038)(1,403)
Other undisclosed operating income   0   
Operating income:376318338357344288
Nonoperating income06231402929
Investment income, nonoperating(1)6733402629
Other nonoperating income (expense)2(5)(2)04 
Interest and debt expense (2)(4)(1)(1)(2)(1)
Income from continuing operations before equity method investments, income taxes:375376369397371316
Other undisclosed income from continuing operations before income taxes2     
Income from continuing operations before income taxes:376376369397371316
Income tax expense(78)(79)(75)(80)(83)(119)
Income from continuing operations:299298293317288197
Income before gain (loss) on sale of properties:✕✕298293317288197
Net income available to common stockholders, diluted:299298293317288197

Comprehensive Income ($ in millions)
Annual | Quarterly

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:299298293317288197
Other comprehensive income (loss)978925245(10)
Comprehensive income:395386319319334187
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(79)(36)1311(20)2
Comprehensive income, net of tax, attributable to parent:316351332330314189

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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