EMC INSURANCE GROUP INC. EMCI Income Statement

Emc insurance group inc. (EMCI)

Income statement / Quarterly

Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
REVENUES
Premiums Earned, Net, Property and Casualty
168,133	167,302	167,743	163,708	157,946	155,786	157,644	155,190	149,837	144,487	151,044	152,181	146,446	142,737	141,142	145,788	144,605	138,731	135,374	138,316	133,952	133,080	135,457	132,362	127,189	120,497	117,270	121,544	110,270	109,759	111,767	107,416	100,931	96,286	97,284	96,431
Net Investment Income
12,951	12,763	12,537	11,951	11,778	11,371	11,800	11,501	11,171	11,007	11,607	11,474	12,179	12,230	11,636	11,299	11,441	11,206	12,031	11,503	11,076	11,855	10,994	10,544	11,040	10,443	10,870	10,968	11,148	11,156	11,227	11,331	11,473	12,078	12,235	12,662
Net realized investment gains, excluding impairment losses on securities available-for-sale
-	-	-	-	-	-	-	-	-	-	-	-917	1,904	-654	-5,214	8,126	3,321	1,401	1,135	171	2,343	1,578	5,185	1,010	175	2,689	450	-153	-1,012	8,918	2,998	1,390	2,370	8,504	2,116	731
Total other-than-temporary impairment losses on securities available-for-sale
-	-	-	-	-	-	-	-	-	-	-	275	270	431	188	628	47	618	1	561	0	316	38	3	0	21	37	22	126	0	131	4,912	584	245	-366	-1,576
Portion of other-than-temporary impairment losses on fixed maturity securities available-for-sale reclassified from other comprehensive income (before taxes)
-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	86	-	0	0
Net impairment losses on securities available-for-sale
-	-	-	-	-	-	-	-	-	-	-	275	270	431	188	628	47	618	1	561	0	316	38	3	0	21	37	22	126	0	-	-4,912	-670	-	0	-1,576
Gain (Loss) on Investments
4,258	22,643	-41,134	11,135	-5,860	-5,393	4,390	-594	3,387	-627	4,717	-1,192	1,634	-1,085	-5,402	7,498	3,274	783	1,134	-390	2,343	1,262	5,146	1,007	175	2,668	413	-176	-1,138	8,918	2,866	-3,521	1,700	8,258	1,749	-845
Other Income
1,557	1,535	2,440	2,331	2,773	1,615	1,764	1,099	1,031	870	5,839	-85	77	-11	103	519	-512	1,615	1,305	1,230	362	34	-132	194	163	235	147	224	222	238	189	198	236	203	229	220
Total revenues
186,899	204,243	141,586	189,125	166,637	163,379	175,598	167,196	165,426	155,737	173,207	162,378	160,336	153,871	147,479	165,104	158,808	152,335	149,844	150,659	147,733	146,231	151,465	144,109	138,567	133,843	128,702	132,562	120,503	130,073	126,051	115,423	114,341	116,827	111,498	108,467
LOSSES AND EXPENSES
Losses and settlement expenses (affiliated $102,691 and $110,570)
122,517	104,969	116,163	111,277	119,091	110,628	98,880	119,576	107,228	96,285	90,795	108,173	102,820	85,109	90,133	102,685	102,133	75,785	84,007	106,652	105,846	88,969	83,510	88,234	88,968	72,574	70,423	79,324	88,399	65,240	76,473	91,360	101,770	73,369	67,572	71,152
Dividends to policyholders (all affiliated)
3,384	2,771	2,049	2,654	2,386	2,120	2,426	46	2,416	2,722	2,508	3,944	3,495	3,853	1,213	3,555	37	2,900	2,987	2,588	2,213	1,716	2,117	4,219	2,333	2,194	1,735	2,982	2,260	1,651	1,174	1,713	-144	2,512	1,905	1,518
Amortization of deferred policy acquisition costs (affiliated $29,892 and $26,917)
32,684	29,970	30,299	28,783	29,429	27,292	28,136	26,430	27,533	26,811	27,663	26,845	27,567	26,328	23,361	26,139	27,243	25,441	24,352	24,957	25,118	24,615	25,225	23,670	23,565	22,267	21,818	22,611	20,631	19,214	20,975	19,671	19,222	17,449	21,590	22,641
Other underwriting expenses (affiliated $22,715 and $22,920)
23,715	22,592	22,594	20,924	22,451	22,855	20,352	20,799	20,133	20,634	22,287	17,606	17,557	16,971	18,067	16,045	16,785	17,521	13,885	13,907	13,604	15,430	17,346	17,331	15,055	16,021	15,569	15,761	14,330	15,257	12,940	12,484	13,905	15,185	9,422	9,134
Interest Expense To Affiliates
170	171	171	170	171	142	84	84	85	84	84	84	85	84	84	84	85	84	84	84	85	84	83	84	85	131	225	225	225	225	225	225	225	225	225	225
Other Cost and Expense, Operating
2,788	1,485	1,180	873	831	870	1,133	701	802	761	674	679	725	649	698	675	650	667	664	588	597	528	352	1,003	612	147	434	906	168	586	541	176	1,023	932	965	300
Total losses and expenses
185,258	161,958	172,456	164,681	174,359	163,907	151,011	167,636	158,197	147,297	144,011	157,331	152,249	132,994	133,556	149,183	146,933	122,398	125,979	148,776	147,463	131,342	128,635	134,544	130,618	113,334	110,206	121,811	126,015	102,175	112,329	125,630	136,001	109,674	101,682	104,972
Income (loss) before income tax expense (benefit)
1,641	42,285	-30,870	24,444	-7,722	-528	24,587	-440	7,229	8,440	29,196	5,047	8,087	20,877	13,923	15,921	11,875	29,937	23,865	1,883	270	14,889	22,830	9,564	7,949	20,509	18,496	10,750	-5,511	27,898	13,722	-10,206	-21,660	7,153	9,816	3,495
INCOME TAX EXPENSE (BENEFIT)
Current
1,540	4,259	-2,704	3,584	-3,311	1,206	6,086	-2,197	2,069	2,046	6,621	1,448	2,374	7,618	3,017	3,081	3,308	9,205	4,432	-1,452	198	4,102	4,953	3,875	2,602	5,496	3,043	2,852	-1,917	7,614	228	-3,108	-8,555	1,617	2,055	382
Deferred
-1,184	4,495	-6,621	1,712	584	-1,658	-7,683	1,011	-344	-410	1,283	-530	-415	-1,395	1,011	1,651	-181	402	3,279	1,106	-942	192	2,041	-1,509	-865	740	2,454	-423	-1,018	1,059	3,494	-1,523	-202	-203	302	-185
Total income tax expense (benefit)
356	8,754	-9,325	5,296	-2,727	-452	-1,597	-1,186	1,725	1,636	7,904	918	1,959	6,223	4,028	4,732	3,127	9,607	7,711	-346	-744	4,294	6,995	2,365	1,737	6,236	5,498	2,429	-2,935	8,674	3,722	-4,631	-8,758	1,413	2,357	197
Net income (loss)
1,285	33,531	-21,545	19,148	-4,995	-76	26,184	746	5,504	6,804	21,292	4,129	6,128	14,654	9,895	11,189	8,748	20,330	16,154	2,229	1,014	10,595	15,834	7,199	6,212	14,273	12,997	8,321	-2,576	19,223	9,999	-5,574	-12,902	5,739	7,458	3,298
Net income (loss) per common share - basic and diluted
0.06	1.55	-1.00	0.89	-0.24	0.00	1.23	0.03	0.26	0.32	1.01	0.20	0.29	0.70	0.47	0.54	0.42	1.00	0.53	0.11	0.05	0.79	0.09	0.55	0.48	1.10	1.01	0.65	-0.20	1.49	0.78	-0.43	-1.00	0.44	0.57	0.25
Dividend per common share
0.23	0.23	-	0.22	0.22	0.22	-	0.21	0.21	0.21	-	0.19	0.19	0.19	-	0.17	0.16	0.16	-	0.15	0.15	0.23	-	0.21	0.21	0.21	-	0.20	0.20	0.20	-	0.19	0.19	0.19	0.18	0.18
Average number of common shares outstanding - basic and diluted (in shares)
21,670	21,638	21,609	21,556	21,529	21,501	21,417	21,356	21,276	21,254	21,132	21,060	20,989	20,842	20,755	20,684	20,611	20,436	27,001	20,267	20,206	13,348	39,386	13,131	13,055	12,946	12,894	12,889	12,883	12,879	12,870	12,886	12,958	12,935	12,979	13,129