Erie Indemnity Company (ERIE) financial statements (2020 and earlier)

Company profile

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

Balance sheet (Statement of financial position) ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments356812872452453,737452
Cash and cash equivalents 266216189183514452
Short-term investments354147156623,223 
Receivables469458473384360  
Other undisclosed current assets38730423730  
Total current assets:8911,1698026666353,737452
Noncurrent Assets
Long-term investments and receivables7253817337406519791,086
Long-term investments7253817337156269791,086
Due from related parties   2525  
Intangible assets, net (including goodwill)    47 
Intangible assets, net (excluding goodwill)    47  
Deferred income tax assets17
Other noncurrent assets9762292021  
Other undisclosed noncurrent assets28616710312353  
Total noncurrent assets:1,1256098648837729791,086
Other undisclosed assets     13,04215,138
TOTAL ASSETS:2,0161,7781,6661,5491,40717,75816,676
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:13511110588276  
Accounts payable    47  
Accrued liabilities263242228211196  
Employee-related liabilities12020  
Interest and dividends payable4542393634  
Other undisclosed accounts payable and accrued liabilities(174)(174)(163)(161)   
Deferred revenue36
Debt22     
Deferred compensation liability1113162021  
Liability for uncertainty in income taxes  2    
Contract with customer, liability34
Other undisclosed current liabilities404387387362148  
Total current liabilities:588547510470446  
Noncurrent Liabilities
Long-term debt and lease obligation96987525   
Long-term debt, excluding current maturities96987525   
Liabilities, other than long-term debt19916022423819218994
Pension and other postretirement defined benefit plans, liabilities94
Deferred revenue18
Contract with customer, liability18
Deferred compensation liability, classified1413141317  
Liability, pension and other postretirement and postemployment benefits146117208223174189
Other liabilities2212122  
Total noncurrent liabilities:29525829926219218994
Other undisclosed liabilities     9,5869,032
Total liabilities:8838058097326389,7759,126
Stockholders' equity
Stockholders' equity attributable to parent, including:1,133974857817770703734
Treasury stock, value(1,159)(1,158)(1,156)(1,156)(1,155)  
Additional paid in capital1616161616  
Accumulated other comprehensive loss(117)(130)(156)(121)(97)  
Retained earnings2,3782,2312,1412,0661,994  
Other undisclosed stockholders' equity attributable to parent1514121211703734
Stockholders' equity attributable to noncontrolling interest     7,2806,816
Total stockholders' equity:1,1339748578177707,9837,550
TOTAL LIABILITIES AND EQUITY:2,0161,7781,6661,5491,40717,75816,676

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

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues2,4772,3821,6921,5971,5066,1246,271
Financial services revenue1,6921,5971,5065,3764,898
Cost of revenue     (4,807)(3,467)
Deferred policy acquisition costs, amortization expense     (849)778
Financial services costs   (3,958)(3,467)
Gross profit:2,4772,3821,6921,5971,5061,3172,804
Operating expenses(2,120)(2,038)(1,403)(1,304)(1,273)  
Operating income:3573442882922331,3172,804
Nonoperating income (expense)4029292834(4) 
Investment income, nonoperating4026292834(4) 
Interest and debt expense(1)(2)(1)(0)   
Income from continuing operations before equity method investments, income taxes:3973713163202661,3132,804
Income from equity method investments     113161
Other undisclosed loss from continuing operations before income taxes     (596)(1,398)
Income from continuing operations before income taxes:3973713163202668301,567
Income tax expense(80)(83)(119)(110)(92)(257)(519)
Net income:3172881972101755731,048
Net loss attributable to noncontrolling interest     (405)(885)
Net income available to common stockholders, diluted:317288197210175168163

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income:3172881972101755731,048
Other comprehensive income (loss)245(10)(38)39(60)(144)
Other undisclosed comprehensive income     60 
Comprehensive income:319334187173213573904
Comprehensive income (loss), net of tax, attributable to noncontrolling interest     (464)667
Other undisclosed comprehensive income (loss), net of tax, attributable to parent11(20)213(18) (1,334)
Comprehensive income, net of tax, attributable to parent:330314189186196109237

Statements sources

The financial statements are based on the company's filings with the 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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