Markel Corporation (MKL) Financial Statements (2023 and earlier)
Company Profile
| Business Address |
4521 HIGHWOODS PARKWAY GLEN ALLEN, VA 23060-6148 |
| State of Incorp. | VA |
| Fiscal Year End | December 31 |
| Industry (SIC) | 6331 - Fire, Marine, and Casualty Insurance (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)Annual | Quarterly
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 14,802 | 13,370 | 11,860 | 8,813 | 4,359 | 4,075 | 4,272 | ||
| Cash and cash equivalents | 3,978 | 4,342 | 3,073 | 2,014 | 2,198 | 1,739 | 2,630 | ||
| Short-term investments | 10,824 | 9,028 | 8,787 | 6,799 | 2,161 | 2,336 | 1,642 | ||
| Inventory, net of allowances, customer advances and progress billings | 529 | 413 | 303 | ||||||
| Inventory | 529 | 413 | 303 | ||||||
| Total current assets: | 15,332 | 13,783 | 12,163 | 8,813 | 4,359 | 4,075 | 4,272 | ||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 233 | ✕ | ✕ | ✕ | ✕ | ||||
| Property, plant and equipment | 1,100 | 632 | 589 | 552 | 502 | 412 | 431 | ||
| Long-term investments and receivables | 460 | ||||||||
| Long-term investments | 460 | ||||||||
| Intangible assets, net (including goodwill) | 4,722 | 4,387 | 4,047 | 3,964 | 3,133 | 1,865 | 1,960 | ||
| Goodwill | 2,899 | 2,605 | 2,309 | 2,238 | 1,777 | 1,142 | 1,168 | ||
| Intangible assets, net (excluding goodwill) | 1,822 | 1,783 | 1,738 | 1,726 | 1,356 | 723 | 792 | ||
| Total noncurrent assets: | 6,281 | 5,019 | 4,868 | 4,516 | 3,635 | 2,277 | 2,391 | ||
| Other undisclosed assets | 26,836 | 22,908 | 20,443 | 19,978 | 24,811 | 19,523 | 18,278 | ||
| TOTAL ASSETS: | 48,449 | 41,710 | 37,474 | 33,306 | 32,805 | 25,875 | 24,941 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Noncurrent Liabilities | |||||||||
| Other undisclosed liabilities | 33,270 | 28,650 | 26,218 | 24,032 | 23,137 | 17,334 | 17,038 | ||
| Total liabilities: | 33,270 | 28,650 | 26,218 | 24,032 | 23,137 | 17,334 | 17,038 | ||
| Temporary equity, carrying amount | 461 | 246 | 178 | 174 | 166 | 74 | 63 | ||
| Stockholders' equity | |||||||||
| Stockholders' equity attributable to parent | 14,695 | 12,800 | 11,071 | 9,081 | 9,504 | 8,461 | 7,834 | ||
| Preferred stock | 592 | 592 | |||||||
| Common stock | 3,441 | 3,428 | 3,405 | 3,393 | 3,382 | 3,369 | 3,342 | ||
| Accumulated other comprehensive income (loss) | 238 | 584 | 209 | (95) | 2,346 | 1,566 | 1,355 | ||
| Retained earnings | 10,424 | 8,195 | 7,457 | 5,782 | 3,777 | 3,526 | 3,137 | ||
| Stockholders' equity attributable to noncontrolling interest | 23 | 15 | 8 | 20 | (3) | 6 | 6 | ||
| Total stockholders' equity: | 14,718 | 12,815 | 11,078 | 9,100 | 9,502 | 8,467 | 7,841 | ||
| TOTAL LIABILITIES AND EQUITY: | 48,449 | 41,710 | 37,474 | 33,306 | 32,805 | 25,875 | 24,941 | ||
Income Statement (P&L) ($ in millions) Annual | Quarterly
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 12,846 | 9,735 | 9,526 | 6,841 | 6,062 | 5,612 | 5,370 | |
| Premiums earned, net | 6,503 | 5,612 | 5,050 | 4,712 | ✕ | ✕ | ✕ | |
| Financial services revenue | ✕ | ✕ | ✕ | ✕ | 4,248 | 3,866 | 3,824 | |
| Other income | 1,413 | 1,308 | 1,087 | |||||
| Cost of revenue | (8,453) | (7,513) | (6,123) | (5,665) | (3,716) | (2,774) | (2,624) | |
| Deferred policy acquisition costs, amortization expense | (1,419) | (1,229) | (1,100) | (1,009) | (894) | (782) | (745) | |
| Gross profit: | 4,394 | 2,222 | 3,404 | 1,176 | 2,346 | 2,838 | 2,746 | |
| Operating expenses | (1,150) | (948) | (926) | (1,136) | (2,126) | (2,034) | (1,885) | |
| Operating income: | 3,244 | 1,274 | 2,477 | 40 | 220 | 804 | 860 | |
| Nonoperating income (expense) (Foreign Currency Transaction Gain (Loss), before Tax) | 72 | (96) | (2) | 107 | ||||
| Interest and debt expense | (184) | (178) | (189) | (154) | (132) | (174) | (118) | |
| Income (loss) from continuing operations before income taxes: | 3,132 | 1,000 | 2,286 | (8) | 87 | 630 | 742 | |
| Income tax expense (benefit) | (684) | (169) | (486) | (122) | 313 | (169) | (153) | |
| Net income (loss): | 2,448 | 832 | 1,799 | (130) | 401 | 460 | 589 | |
| Net income (loss) attributable to noncontrolling interest | (23) | (16) | (9) | 2 | (5) | (5) | (6) | |
| Net income (loss) attributable to parent: | 2,425 | 816 | 1,790 | (128) | 395 | 456 | 583 | |
| Preferred stock dividends and other adjustments | (36) | (18) | 1 | (5) | (34) | (15) | 4 | |
| Net income (loss) available to common stockholders, diluted: | 2,389 | 798 | 1,792 | (133) | 362 | 440 | 587 | |
Comprehensive Income ($ in millions)Annual | Quarterly
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 2,448 | 832 | 1,799 | (130) | 401 | 460 | 589 | |
| Other comprehensive income (loss) | (347) | 376 | 303 | (248) | 780 | 211 | (350) | |
| Comprehensive income (loss): | 2,101 | 1,207 | 2,103 | (378) | 1,181 | 672 | 239 | |
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | (23) | (16) | (9) | 2 | (6) | (5) | (6) | |
| Comprehensive income (loss), net of tax, attributable to parent: | 2,078 | 1,192 | 2,094 | (376) | 1,175 | 667 | 233 | |
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.