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)

12/31/2019
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 investments435326119131124112103
Cash and cash equivalents12164961111069192
Short-term investments3152622320172111
Total current assets:435326119131124112103
Noncurrent Assets
Operating lease, right-of-use asset15
Property, plant and equipment117976956534947
Long-term investments and receivables78374968545045
Long-term investments78374968545045
Intangible assets, net (including goodwill)23232425262627
Goodwill15151515151515
Intangible assets, net (excluding goodwill)78910101112
Total noncurrent assets:233158142148133126119
Other undisclosed assets2,3452,3333,9223,7763,6343,6193,499
TOTAL ASSETS:3,0132,8174,1834,0553,8903,8573,721
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Liabilities, other than long-term debt21      
Deferred income tax liabilities21
Total noncurrent liabilities:21      
Other undisclosed liabilities2,0821,9283,2103,1133,0113,0392,938
Total liabilities:2,1031,9283,2103,1133,0113,0392,938
Stockholders' equity
Stockholders' equity attributable to parent910888973942879817783
Common stock0000000
Additional paid in capital200203196216207203212
Accumulated other comprehensive income (loss)13(30)168109809187
Retained earnings697715609616591524484
Total stockholders' equity:910888973942879817783
TOTAL LIABILITIES AND EQUITY:3,0132,8174,1834,0553,8903,8573,721

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
Revenues1,2011,0701,0531,1371,035942877
Premiums earned, net1,0871,037
Financial services revenue9971,023931828755
Cost of revenue(830)(732)(726)(764)(624)(771)(459)
Policyholder benefits and claims incurred, net(830)(732)
Deferred policy acquisition costs, amortization expense     (167)154
Financial services costs(726)(684)(549)(536)(459)
Gross profit:371339327373411171418
Operating expenses(137)(141)(104)(103)(103)(102) 
Operating income:23419722327030869418
Nonoperating income
(Investment Income, Nonoperating)
     106113
Other undisclosed loss from continuing operations before equity method investments, income taxes     (98)(429)
Income from continuing operations before equity method investments, income taxes:23419722327030876102
Other undisclosed loss from continuing operations before income taxes(217)(206)(208)(211)(187)  
Income (loss) from continuing operations before income taxes:17(9)165912176102
Income tax expense (benefit)(2)1129(9)(32)(17)(26)
Income from continuing operations:1524550895976
Income (loss) from discontinued operations (2)6    
Net income:1505150895976
Other undisclosed net income attributable to parent 27     
Net income available to common stockholders, diluted:15285150895976

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:1505150895976
Other comprehensive income (loss)(16)32(21)3616(45) 
Comprehensive income (loss):(2)3230851051576
Other undisclosed comprehensive income (loss), net of tax, attributable to parent60(19)49(7)(27)49(8)
Comprehensive income, net of tax, attributable to parent:58137979786368

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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