United Fire Group, Inc (UFCS) financial statements (2021 and earlier)

Company profile

Business Address 118 SECOND AVE SE
CEDAR RAPIDS, IA 52401
State of Incorp.
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 investments295435326119131124112
Cash and cash equivalents88121649611110691
Short-term investments20731526223201721
Total current assets:295435326119131124112
Noncurrent Assets
Operating lease, right-of-use asset1915
Property, plant and equipment1301179769565349
Long-term investments and receivables69783749685450
Long-term investments69783749685450
Intangible assets, net (including goodwill)7232324252626
Goodwill 151515151515
Intangible assets, net (excluding goodwill)7789101011
Total noncurrent assets:225233158142148133126
Other undisclosed assets2,5502,3452,3333,9223,7763,6343,619
TOTAL ASSETS:3,0703,0132,8174,1834,0553,8903,857
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Liabilities, other than long-term debt2521     
Deferred income tax liabilities2521
Total noncurrent liabilities:2521     
Other undisclosed liabilities2,2202,0821,9283,2103,1133,0113,039
Total liabilities:2,2452,1031,9283,2103,1133,0113,039
Stockholders' equity
Stockholders' equity attributable to parent825910888973942879817
Common stock0000000
Additional paid in capital202200203196216207203
Accumulated other comprehensive income (loss)6713(30)1681098091
Retained earnings556697715609616591524
Total stockholders' equity:825910888973942879817
TOTAL LIABILITIES AND EQUITY:3,0703,0132,8174,1834,0553,8903,857

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
Revenues1,0691,2011,0701,0531,1371,035942
Premiums earned, net1,0551,0871,037
Financial services revenue9971,023931828
Cost of revenue(869)(830)(732)(726)(764)(624)(771)
Policyholder benefits and claims incurred, net(869)(830)(732)
Deferred policy acquisition costs, amortization expense      (167)
Financial services costs(726)(684)(549)(536)
Gross profit:199371339327373411171
Operating expenses(158)(137)(141)(104)(103)(103)(102)
Operating income:4123419722327030869
Nonoperating income
(Investment Income, Nonoperating)
      106
Other undisclosed loss from continuing operations before equity method investments, income taxes      (98)
Income from continuing operations before equity method investments, income taxes:4123419722327030876
Other undisclosed loss from continuing operations before income taxes(210)(217)(206)(208)(211)(187) 
Income (loss) from continuing operations before income taxes:(170)17(9)165912176
Income tax expense (benefit)57(2)1129(9)(32)(17)
Income (loss) from continuing operations:(113)15245508959
Income (loss) from discontinued operations  (2)6   
Net income (loss):(113)15051508959
Other undisclosed net income attributable to parent  27    
Net income (loss) available to common stockholders, diluted:(113)152851508959

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):(113)15051508959
Other comprehensive income (loss)23(16)32(21)3616(45)
Comprehensive income (loss):(90)(2)32308510515
Other undisclosed comprehensive income (loss), net of tax, attributable to parent3160(19)49(7)(27)49
Comprehensive income (loss), net of tax, attributable to parent:(59)581379797863

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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