Markel Corporation (MKL) financial statements (2022 and earlier)

Company profile

Business Address 4521 HIGHWOODS PARKWAY
GLEN ALLEN, VA 23060-6148
State of Incorp. VA
Fiscal Year End December 31
SIC 6331 - Fire, Marine, and Casualty Insurance (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 investments14,80213,37011,8608,8134,3594,0754,272
Cash and cash equivalents3,9784,3423,0732,0142,1981,7392,630
Short-term investments10,8249,0288,7876,7992,1612,3361,642
Inventory, net of allowances, customer advances and progress billings529413303    
Inventory529413303    
Total current assets:15,33213,78312,1638,8134,3594,0754,272
Noncurrent Assets
Operating lease, right-of-use asset  233
Property, plant and equipment1,100632589552502412431
Long-term investments and receivables460      
Long-term investments460      
Intangible assets, net (including goodwill)4,7224,3874,0473,9643,1331,8651,960
Goodwill2,8992,6052,3092,2381,7771,1421,168
Intangible assets, net (excluding goodwill)1,8221,7831,7381,7261,356723792
Total noncurrent assets:6,2815,0194,8684,5163,6352,2772,391
Other undisclosed assets26,83622,90820,44319,97824,81119,52318,278
TOTAL ASSETS:48,44941,71037,47433,30632,80525,87524,941
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Other undisclosed liabilities33,27028,65026,21824,03223,13717,33417,038
Total liabilities:33,27028,65026,21824,03223,13717,33417,038
Temporary equity, carrying amount4612461781741667463
Stockholders' equity
Stockholders' equity attributable to parent14,69512,80011,0719,0819,5048,4617,834
Preferred stock592592     
Common stock3,4413,4283,4053,3933,3823,3693,342
Accumulated other comprehensive income (loss)238584209(95)2,3461,5661,355
Retained earnings10,4248,1957,4575,7823,7773,5263,137
Stockholders' equity attributable to noncontrolling interest2315820(3)66
Total stockholders' equity:14,71812,81511,0789,1009,5028,4677,841
TOTAL LIABILITIES AND EQUITY:48,44941,71037,47433,30632,80525,87524,941

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
Revenues12,8469,7359,5266,8416,0625,6125,370
Premiums earned, net6,5035,6125,0504,712
Financial services revenue4,2483,8663,824
Other income    1,4131,3081,087
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:4,3942,2223,4041,1762,3462,8382,746
Operating expenses(1,150)(948)(926)(1,136)(2,126)(2,034)(1,885)
Operating income:3,2441,2742,47740220804860
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:3,1321,0002,286(8)87630742
Income tax expense (benefit)(684)(169)(486)(122)313(169)(153)
Net income (loss):2,4488321,799(130)401460589
Net income (loss) attributable to noncontrolling interest(23)(16)(9)2(5)(5)(6)
Net income (loss) attributable to parent:2,4258161,790(128)395456583
Preferred stock dividends and other adjustments(36)(18)1(5)(34)(15)4
Net income (loss) available to common stockholders, diluted:2,3897981,792(133)362440587

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 (loss):2,4488321,799(130)401460589
Other comprehensive income (loss)(347)376303(248)780211(350)
Comprehensive income (loss):2,1011,2072,103(378)1,181672239
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:2,0781,1922,094(376)1,175667233

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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