Erie Indemnity Company (ERIE) Financial Statements (2023 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)

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 investments381835681287245245
Cash and cash equivalents   266216189183
Short-term investments381835414715662
Receivables479497469458473384360
Other undisclosed current assets24621738730423730
Total current assets:7647328911,169802666635
Noncurrent Assets
Long-term investments and receivables1,054973725381733740651
Long-term investments995911725381733715626
Accounts and financing receivable, after allowance for credit loss5962     
Due from related parties     2525
Intangible assets, net (including goodwill)      47
Intangible assets, net (excluding goodwill)      47
Deferred income tax assets01217
Other noncurrent assets49409762292021
Other undisclosed noncurrent assets37535928616710312353
Total noncurrent assets:1,4781,3851,125609864883772
TOTAL ASSETS:2,2422,1172,0161,7781,6661,5491,407
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:13815113511110588276
Accounts payable      47
Accrued liabilities271262263242228211196
Employee-related liabilities2112020
Interest and dividends payable52484542393634
Other undisclosed accounts payable and accrued liabilities(186)(161)(174)(174)(163)(161) 
Deferred revenue353736
Debt2222   
Deferred compensation liability13171113162021
Liability for uncertainty in income taxes    2  
Contract with customer, liability34
Other undisclosed current liabilities443421404387387362148
Total current liabilities:631628588547510470446
Noncurrent Liabilities
Long-term debt and lease obligation929496987525 
Long-term debt, excluding current maturities929496987525 
Liabilities, other than long-term debt177208199160224238192
Deferred revenue181918
Contract with customer, liability18
Deferred compensation liability, classified15151413141317
Liability, pension and other postretirement and postemployment benefits130164146117208223174
Other liabilities1492212122
Total noncurrent liabilities:269301295258299262192
Total liabilities:900929883805809732638
Stockholders' equity
Stockholders' equity attributable to parent, including:1,3421,1881,133974857817770
Treasury stock, value(1,168)(1,164)(1,159)(1,158)(1,156)(1,156)(1,155)
Additional paid in capital16161616161616
Accumulated other comprehensive loss(25)(78)(117)(130)(156)(121)(97)
Retained earnings2,4952,3942,3782,2312,1412,0661,994
Other undisclosed stockholders' equity attributable to parent24201514121211
Total stockholders' equity:1,3421,1881,133974857817770
TOTAL LIABILITIES AND EQUITY:2,2422,1172,0161,7781,6661,5491,407

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues2,6342,5362,4772,3821,6921,5971,506
Financial services revenue1,6921,5971,506
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
 (0)     
Gross profit:2,6342,5362,4772,3821,6921,5971,506
Operating expenses(2,316)(2,198)(2,120)(2,038)(1,403)(1,304)(1,273)
Other undisclosed operating income 0     
Operating income:318338357344288292233
Nonoperating income62314029292834
Investment income, nonoperating67334026292834
Interest and debt expense(4)(1)(1)(2)(1)(0) 
Income from continuing operations before income taxes:376369397371316320266
Income tax expense(79)(75)(80)(83)(119)(110)(92)
Net income available to common stockholders, diluted:298293317288197210175

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income:298293317288197210175
Other comprehensive income (loss)8925245(10)(38)39
Comprehensive income:386319319334187173213
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(36)1311(20)213(18)
Comprehensive income, net of tax, attributable to parent:351332330314189186196

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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