| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities | |||||||||||
Management fee received | |||||||||||
1,845,075 | 1,751,247 | 1,627,558 | 1,536,699 | 1,454,902 | 1,348,885 | 1,240,311 | - | - | - | - | - |
Administrative services reimbursements received | |||||||||||
588,255 | 574,698 | 0 | - | - | - | - | - | - | - | - | - |
Service agreement fee received | |||||||||||
27,627 | 28,677 | 29,149 | 29,200 | 29,997 | 30,929 | 30,930 | 31,000 | 33,000 | 34,000 | 35,000 | 32,000 |
Premiums collected | |||||||||||
- | - | - | - | - | - | - | 4,594,000 | 4,276,000 | 4,055,000 | 3,964,000 | 3,843,000 |
Net investment income received | |||||||||||
34,511 | 37,489 | 31,281 | 26,796 | 25,999 | 22,846 | 21,517 | 471,000 | 458,000 | 445,000 | 421,000 | 453,000 |
Limited partnership distributions | |||||||||||
1,931 | 7,173 | 5,128 | 17,837 | 14,112 | 15,327 | 27,050 | 164,000 | 166,000 | 122,000 | 81,000 | 315,000 |
Decrease in reimbursements collected from affiliates | |||||||||||
0 | 0 | 4,720 | -247 | -7,775 | 7,472 | -6,435 | - | - | - | - | - |
Commissions paid to agents | |||||||||||
895,563 | 853,758 | 800,627 | 756,713 | 725,714 | 665,154 | 617,086 | 617,000 | 583,000 | 532,000 | 535,000 | 534,000 |
Agents bonuses paid | |||||||||||
115,795 | 134,314 | 122,743 | 113,859 | 96,749 | 83,436 | 64,597 | - | - | - | - | - |
Salaries and wages paid | |||||||||||
186,460 | 182,537 | 171,547 | 160,985 | 155,303 | 153,459 | 147,059 | - | - | - | - | - |
Pension contributions and employee benefits paid | |||||||||||
42,728 | 115,525 | 89,981 | 44,250 | 40,993 | 48,516 | 40,844 | - | - | - | - | - |
General operating expenses paid | |||||||||||
236,128 | 208,036 | 199,084 | 176,029 | 190,301 | 178,452 | 152,456 | - | - | - | - | - |
Administrative services expenses paid | |||||||||||
582,528 | 580,338 | 0 | - | - | - | - | - | - | - | - | - |
Losses paid | |||||||||||
- | - | - | - | - | - | - | 2,818,000 | 2,953,000 | 2,398,000 | 2,241,000 | 2,201,000 |
Loss expenses paid | |||||||||||
- | - | - | - | - | - | - | 464,000 | 439,000 | 419,000 | 405,000 | 384,000 |
Other underwriting and acquisition costs paid | |||||||||||
- | - | - | - | - | - | - | 557,000 | 531,000 | 517,000 | 552,000 | 530,000 |
Income taxes paid | |||||||||||
72,817 | 58,814 | 106,250 | 104,607 | 106,347 | 95,485 | 86,193 | 227,000 | 67,000 | 69,000 | -121,000 | 273,000 |
Interest paid | |||||||||||
853 | 2,377 | 1,038 | 0 | - | - | - | - | - | - | - | 1,000 |
Net cash provided by operating activities | |||||||||||
364,527 | 263,585 | 197,126 | 254,336 | 217,378 | 186,013 | 218,008 | 577,000 | 360,000 | 721,000 | 889,000 | 720,000 |
Cash flows from investing activities | |||||||||||
Purchase of investments: | |||||||||||
Available-for-sale securities | |||||||||||
956,818 | 392,895 | 391,181 | 369,811 | 228,308 | 250,789 | 242,676 | 2,112,000 | 1,801,000 | 1,760,000 | 1,938,000 | 1,784,000 |
Equity securities | |||||||||||
66,760 | 4,087 | - | - | - | - | - | - | - | - | - | - |
Preferred stock | |||||||||||
- | - | - | - | - | - | - | 172,000 | 119,000 | 179,000 | 176,000 | 244,000 |
Common stock | |||||||||||
- | - | - | - | - | - | - | 1,807,000 | 1,742,000 | 1,495,000 | 1,450,000 | 2,232,000 |
Limited partnerships | |||||||||||
48 | 243 | 410 | 578 | 928 | 1,123 | 2,907 | 100,000 | 209,000 | 165,000 | 174,000 | - |
Other investments | |||||||||||
1,032 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Proceeds from investments: | |||||||||||
Available-for-sale securities sales | |||||||||||
687,347 | 235,323 | 144,317 | 89,498 | 102,286 | 116,401 | 159,524 | 881,000 | 631,000 | 562,000 | 510,000 | 790,000 |
Available-for-sale securities maturities/calls | |||||||||||
303,798 | 134,396 | 194,980 | 146,285 | 112,705 | 119,679 | - | 1,169,000 | 950,000 | 1,009,000 | 734,000 | 1,002,000 |
Equity securities | |||||||||||
16,109 | 4,162 | - | - | - | - | - | - | - | - | - | - |
Preferred stock | |||||||||||
- | - | - | - | - | - | - | 154,000 | 113,000 | 135,000 | 210,000 | 263,000 |
Trading securities | |||||||||||
- | - | - | 5,171 | - | 0 | - | 1,733,000 | 1,652,000 | 1,376,000 | 1,394,000 | 2,151,000 |
Limited partnerships | |||||||||||
3,722 | 3,387 | 10,768 | 16,113 | 26,735 | 28,613 | 29,054 | 201,000 | 163,000 | 142,000 | 15,000 | 396,000 |
Purchase of fixed assets | |||||||||||
102,039 | 56,297 | 28,927 | 25,208 | 12,556 | 19,473 | 10,750 | 33,000 | 11,000 | 33,000 | 14,000 | 9,000 |
Proceeds from disposal of fixed assets | |||||||||||
777 | 6,014 | 0 | 0 | - | - | - | - | - | - | - | - |
Loans to agents | |||||||||||
17,611 | 42,594 | 9,153 | 5,215 | - | - | - | - | - | - | - | - |
Collections on agent loans | |||||||||||
7,921 | 6,436 | 4,943 | 6,801 | - | - | - | - | - | - | - | - |
Repayment of note receivable from Erie Family Life Insurance | |||||||||||
0 | 25,000 | 0 | 0 | - | - | - | - | - | - | - | - |
Sale of and returns on limited partnerships | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 40,000 |
Net distributions on agent loans | |||||||||||
- | - | - | - | -688 | -1,595 | -2,523 | -1,000 | 1,000 | -3,000 | 2,000 | 4,000 |
Net cash (used in) provided by investing activities | |||||||||||
-124,634 | -81,398 | -74,663 | -136,944 | 622 | -5,097 | -65,232 | -85,000 | -375,000 | -405,000 | -890,000 | -425,000 |
Net distributions on life policy loans | |||||||||||
- | - | - | - | - | - | - | 0 | 1,000 | 0 | -1,000 | -2,000 |
Cash flows from financing activities | |||||||||||
Annuity deposits and interest | |||||||||||
- | - | - | - | - | - | - | 92,000 | 95,000 | 111,000 | 183,000 | 191,000 |
Annuity surrenders and withdrawals | |||||||||||
- | - | - | - | - | - | - | 83,000 | 81,000 | 79,000 | 129,000 | 147,000 |
Universal life deposits and interest | |||||||||||
- | - | - | - | - | - | - | 23,000 | 29,000 | 38,000 | 39,000 | 21,000 |
Universal life surrenders | |||||||||||
- | - | - | - | - | - | - | 10,000 | 16,000 | 35,000 | 39,000 | 12,000 |
Purchase of treasury stock | |||||||||||
- | - | - | - | - | 19,692 | 31,721 | 70,000 | 155,000 | 57,000 | 3,000 | 102,000 |
Dividends paid to shareholders | |||||||||||
167,651 | 156,474 | 145,765 | 135,985 | 126,858 | 118,526 | 83,618 | 229,000 | 102,000 | 98,000 | 93,000 | 92,000 |
Net (payments) proceeds from long-term borrowings | |||||||||||
-1,920 | 24,983 | 49,951 | 24,776 | - | - | - | - | - | - | - | - |
Decrease in collateral from securities lending | |||||||||||
- | - | - | - | - | - | - | - | - | - | 285,000 | -361,000 |
Redemption of securities lending collateral | |||||||||||
- | - | - | - | - | - | - | - | - | - | 285,000 | -361,000 |
Proceeds from bank line of credit | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 75,000 |
Payments on bank line of credit | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 75,000 |
Net cash used in financing activities | |||||||||||
-169,571 | -131,491 | -95,814 | -111,209 | -126,858 | -138,218 | -115,339 | -277,000 | -230,000 | -120,000 | -42,000 | -141,000 |
Net (decrease) increase in cash and cash equivalents | |||||||||||
70,322 | 50,696 | 26,649 | 6,183 | 91,142 | 42,698 | 37,437 | 215,000 | -245,000 | 196,000 | -43,000 | 154,000 |
Supplemental disclosure of noncash transactions | |||||||||||
Operating lease assets obtained in exchange for new operating lease liabilities | |||||||||||
35,483 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Supplemental disclosure of noncash transactions | |||||||||||
Transfer of investments from limited partnerships to equity securities | |||||||||||
3,310 | 0 | 0 | 4,464 | - | - | - | - | - | - | - | - |
Liability incurred to purchase fixed assets | |||||||||||
6,800 | 8,453 | 0 | 0 | - | - | - | - | - | - | - | - |