ProAssurance Corporation (PRA) financial statements (2022 and earlier)

Company profile

Business Address 100 BROOKWOOD PLACE
BIRMINGHAM, AL 35209
State of Incorp. DE
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 investments6197228138321,037947683
Cash and cash equivalents14421617580134117241
Short-term investments475506638751903829442
Total current assets:6197228138321,037947683
Noncurrent Assets
Operating lease, right-of-use asset201921
Property, plant and equipment30313031323238
Long-term investments and receivables1024739 331341312
Long-term investments1024739 331341312
Intangible assets, net (including goodwill)196181352364377380396
Goodwill5050211211211211211
Intangible assets, net (excluding goodwill)147131142154166169185
Regulated entity, other noncurrent assets112122 
Deferred costs40312724   
Deferred income tax assets1185744
Total noncurrent assets:506367516421741754746
Other undisclosed assets5,0663,5663,4773,3483,1513,3643,479
TOTAL ASSETS:6,1914,6554,8064,6014,9295,0654,908
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Other undisclosed liabilities4,7633,3063,2943,0783,3343,2662,950
Total liabilities:4,7633,3063,2943,0783,3343,2662,950
Stockholders' equity
Stockholders' equity attributable to parent1,4281,3491,5121,5231,5951,7991,958
Common stock1111111
Treasury stock, value(416)(416)(416)(417)(418)(420)(420)
Additional paid in capital393388385385383377365
Accumulated other comprehensive income (loss)167537(17)151724
Retained earnings1,4341,3011,5061,5721,6141,8241,988
Total stockholders' equity:1,4281,3491,5121,5231,5951,7991,958
TOTAL LIABILITIES AND EQUITY:6,1914,6554,8064,6014,9295,0654,908

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
Revenues1,1248751,000886866870772
Premiums earned, net972793848819
Cost of revenue(863)(772)(869)(698)(565)(443)(411)
Policyholder benefits and claims incurred, net(752)(661)(754)(593)
Deferred policy acquisition costs, amortization expense(111)(111)(115)(105)(96)  
Financial services costs(469)(443)(411)
Gross profit:262103131188301427361
Operating expenses(158)(288)(138)(134)(140)  
Operating income (loss):104(186)(8)54161427361
Nonoperating income
(Investment Income, Nonoperating)
74      
Interest and debt expense(20)(16)(17)(16)(17)(15)(15)
Income (loss) from continuing operations before equity method investments, income taxes:159(201)(24)38144412347
Other undisclosed loss from continuing operations before income taxes(12)(16)(5)(9)(16)(236)(218)
Income (loss) from continuing operations before income taxes:147(217)(29)29129176129
Income tax expense (benefit)(2)413018(21)(25)(13)
Net income (loss) available to common stockholders, diluted:144(176)147107151116

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):144(176)147107151116
Other comprehensive income (loss)(59)3854(35)(2)(6)(34)
Comprehensive income (loss), net of tax, attributable to parent:85(137)551210514582

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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