Markel Corporation (MKL) financial statements (2021 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)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments13,37011,8608,8134,3594,0754,2723,555
Cash and cash equivalents4,3423,0732,0142,1981,7392,6301,960
Short-term investments9,0288,7876,7992,1612,3361,6421,595
Inventory, net of allowances, customer advances and progress billings413303     
Inventory413303     
Total current assets:13,78312,1638,8134,3594,0754,2723,555
Noncurrent Assets
Operating lease, right-of-use asset 233
Property, plant and equipment632589552502412431421
Intangible assets, net (including goodwill)4,3874,0473,9643,1331,8651,9601,752
Goodwill2,6052,3092,2381,7771,1421,1681,049
Intangible assets, net (excluding goodwill)1,7831,7381,7261,356723792703
Total noncurrent assets:5,0194,8684,5163,6352,2772,3912,173
Other undisclosed assets22,90820,44319,97824,81119,52318,27819,472
TOTAL ASSETS:41,71037,47433,30632,80525,87524,94125,200
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Other undisclosed liabilities28,65026,21824,03223,13717,33417,03817,537
Total liabilities:28,65026,21824,03223,13717,33417,03817,537
Temporary equity, carrying amount246178174166746361
Stockholders' equity
Stockholders' equity attributable to parent12,80011,0719,0819,5048,4617,8347,595
Preferred stock592      
Common stock3,4283,4053,3933,3823,3693,3423,308
Accumulated other comprehensive income (loss)584209(95)2,3461,5661,3551,705
Retained earnings8,1957,4575,7823,7773,5263,1372,582
Stockholders' equity attributable to noncontrolling interest15820(3)667
Total stockholders' equity:12,81511,0789,1009,5028,4677,8417,602
TOTAL LIABILITIES AND EQUITY:41,71037,47433,30632,80525,87524,94125,200

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

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues9,7359,5266,8416,0625,6125,3705,134
Premiums earned, net5,6125,0504,712
Financial services revenue4,2483,8663,8243,841
Other income   1,4131,3081,087
Cost of revenue(7,513)(6,123)(5,665)(3,716)(2,774)(2,624)(2,801)
Deferred policy acquisition costs, amortization expense(1,229)(1,100)(1,009)(894)(782)(745)(655)
Financial services costs 362331423
Gross profit:2,2223,4041,1762,3462,8382,7462,333
Operating expenses(948)(926)(1,136)(2,126)(2,034)(1,885)(1,775)
Operating income:1,2742,47740220804860558
Nonoperating income (expense)(96)(2)107   411
Investment income, nonoperating      411
Foreign currency transaction gain (loss), before tax(96)(2)107    
Interest and debt expense(178)(189)(154)(132)(174)(118)(117)
Income (loss) from continuing operations before equity method investments, income taxes:1,0002,286(8)87630742852
Income from equity method investments      5
Other undisclosed loss from continuing operations before income taxes      (416)
Income (loss) from continuing operations before income taxes:1,0002,286(8)87630742440
Income tax expense (benefit)(169)(486)(122)313(169)(153)(117)
Net income (loss):8321,799(130)401460589324
Net income (loss) attributable to noncontrolling interest(16)(9)2(5)(5)(6)(3)
Net income (loss) attributable to parent:8161,790(128)395456583321
Preferred stock dividends and other adjustments(18)1(5)(34)(15)4(8)
Net income (loss) available to common stockholders, diluted:7981,792(133)362440587313

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income (loss):8321,799(130)401460589324
Other comprehensive income (loss)376303(248)780211(350)615
Comprehensive income (loss):1,2072,103(378)1,181672239938
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(16)(9)2(6)(5)(6)(3)
Comprehensive income (loss), net of tax, attributable to parent:1,1922,094(376)1,175667233936

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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