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)

12/31/2019
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 investments11,8608,8134,3594,0754,2723,5553,431
Cash and cash equivalents3,0732,0142,1981,7392,6301,9601,979
Short-term investments8,7876,7992,1612,3361,6421,5951,452
Inventory, net of allowances, customer advances and progress billings303     
Inventory303      
Total current assets:12,1638,8134,3594,0754,2723,5553,431
Noncurrent Assets
Operating lease, right-of-use asset233
Property, plant and equipment589552502412431421348
Intangible assets, net (including goodwill)4,0473,9643,1331,8651,9601,7521,533
Goodwill2,3092,2381,7771,1421,1681,049968
Intangible assets, net (excluding goodwill)1,7381,7261,356723792703565
Total noncurrent assets:4,8684,5163,6352,2772,3912,1731,881
Other undisclosed assets20,44319,97824,81119,52318,27819,47218,644
TOTAL ASSETS:37,47433,30632,80525,87524,94125,20023,956
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Other undisclosed liabilities26,21824,03223,13717,33417,03817,53717,205
Total liabilities:26,21824,03223,13717,33417,03817,53717,205
Temporary equity, carrying amount17817416674636172
Stockholders' equity
Stockholders' equity attributable to parent11,0719,0819,5048,4617,8347,5956,674
Common stock3,4053,3933,3823,3693,3423,3083,289
Accumulated other comprehensive income (loss)209(95)2,3461,5661,3551,7051,090
Retained earnings7,4575,7823,7773,5263,1372,5822,295
Stockholders' equity attributable to noncontrolling interest820(3)6674
Total stockholders' equity:11,0789,1009,5028,4677,8417,6026,678
TOTAL LIABILITIES AND EQUITY:37,47433,30632,80525,87524,94125,20023,956

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
Revenues9,5266,8416,0625,6125,3705,1344,323
Premiums earned, net5,0504,712
Financial services revenue4,2483,8663,8243,8413,232
Other income  1,4131,3081,087
Cost of revenue(6,123)(5,665)(3,716)(2,774)(2,624)(2,801)(3,113)
Deferred policy acquisition costs, amortization expense(1,100)(1,009)(894)(782)(745)(655)472
Financial services costs 362331423 
Gross profit:3,4041,1762,3462,8382,7462,3331,210
Operating expenses(926)(1,136)(2,126)(2,034)(1,885)(1,775)(735)
Operating income:2,47740220804860558476
Nonoperating income (expense)(2)107   411396
Investment income, nonoperating     411396
Foreign currency transaction gain (loss), before tax(2)107     
Interest and debt expense(189)(154)(132)(174)(118)(117)(114)
Income (loss) from continuing operations before equity method investments, income taxes:2,286(8)87630742852757
Income from equity method investments     522
Other undisclosed loss from continuing operations before income taxes     (416)(418)
Income (loss) from continuing operations before income taxes:2,286(8)87630742440362
Income tax expense (benefit)(486)(122)313(169)(153)(117)(78)
Net income (loss):1,799(130)401460589324284
Net income (loss) attributable to noncontrolling interest(9)2(5)(5)(6)(3)(3)
Net income (loss) attributable to parent:1,790(128)395456583321281
Preferred stock dividends and other adjustments1(5)(34)(15)4(8)2
Net income (loss) available to common stockholders, diluted:1,792(133)362440587313283

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 (loss):1,799(130)401460589324284
Other comprehensive income (loss)303(248)780211(350)615178
Comprehensive income (loss):2,103(378)1,181672239938462
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(9)2(6)(5)(6)(3)3
Other undisclosed comprehensive loss, net of tax, attributable to parent      (6)
Comprehensive income (loss), net of tax, attributable to parent:2,094(376)1,175667233936459

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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