Erie indemnity company (ERIE)
Income statement / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09Dec'08
Operating revenue
Revenue from Contract with Customer, Excluding Assessed Tax

2,477

2,382

1,691

1,596

1,505

6,124

6,271

5,512

4,824

4,890

4,255

2,651

Operating expenses
Commissions

-

-

-

-

847

-

-

-

-

-

-

-

Salaries and employee benefits

-

-

-

-

226

-

-

-

-

-

-

-

All other operating expenses

-

-

-

-

198

-

-

-

-

-

-

-

Operating expenses

2,119

2,037

1,401

1,303

1,272

-

-

-

-

-

-

-

Operating income

357

344

290

293

232

-

-

-

-

-

-

-

Investment income
Premiums earned

-

-

-

-

-

5,344

4,898

4,493

4,214

3,987

3,869

3,834

Net investment income

33

30

24

20

17

446

422

438

433

433

433

438

Net realized investment (losses) gains

6

-2

1

-

-

-

-

-

-

-

-

-

Net realized investment gains (losses)

-

-

-

0

0

193

771

418

-4

313

412

-1,026

Net impairment losses recognized in earnings

0

1

0

0

1

4

13

0

2

6

126

571

Equity in losses of limited partnerships

0

-0

2

7

16

113

161

131

149

128

-369

-58

Total investment income

39

25

28

27

33

-

-

-

-

-

-

-

Interest expense, net

0

2

1

0

-

-

-

-

-

-

-

-

Other income

0

3

-1

-1

-

-

-

-

-

-

-

34

Insurance losses and loss expenses

-

-

-

-

-

3,958

3,467

3,480

3,444

2,900

2,728

2,582

Policy acquisition and underwriting expenses

-

-

-

-

-

1,336

1,237

1,133

1,022

969

1,003

908

Goodwill impairment

-

-

-

-

-

-

-

-

-

22

-

-

Total benefits and expenses

-

-

-

-

-

5,294

4,704

4,613

4,466

3,891

3,731

3,490

Income before income taxes

396

371

315

320

266

830

1,567

899

358

999

524

-839

Income tax expense

79

83

118

109

91

257

519

280

90

339

78

-223

Net income (loss)

-

-

-

-

-

573

1,048

619

268

660

446

-616

Less: Net (loss) income attributable to noncontrolling interest in consolidated entity  Exchange

-

-

-

-

-

405

885

459

99

498

338

-685

Net Income (Loss) Attributable to Parent

316

288

196

210

174

168

163

160

169

162

108

69

Management fee revenue - policy issuance and renewal services, net
Revenue from Contract with Customer, Excluding Assessed Tax

1,810

1,719

1,662

1,567

1,475

-

-

-

-

-

-

-

Operating expenses

1,537

1,457

1,401

1,303

-

-

-

-

-

-

-

-

Management fee revenue - administrative services, net
Revenue from Contract with Customer, Excluding Assessed Tax

57

53

0

-

-

-

-

-

-

-

-

-

Administrative services reimbursement revenue
Revenue from Contract with Customer, Excluding Assessed Tax

582

580

0

-

-

-

-

-

-

-

-

-

Operating expenses

582

580

0

-

-

-

-

-

-

-

-

-

Service agreement revenue
Revenue from Contract with Customer, Excluding Assessed Tax

27

28

29

29

29

32

32

32

34

35

36

-

Indemnity
Net Investment Income

-

-

-

-

-

16

15

-

-

-

-

-

Net realized investment gains (losses)

-

-

-

-

-

1

1

-

-

-

-

-

Net impairment losses recognized in earnings

-

-

-

-

-

0

0

-

-

-

-

-

Equity in earnings of limited partnerships

-

-

-

-

-

11

22

-

-

-

-

-

Income (loss) from operations before income taxes and noncontrolling interest

-

-

-

-

-

251

247

-

-

-

-

-

Income Tax Expense (Benefit)

-

-

-

-

-

83

84

-

-

-

-

-

Net income (loss) attributable to Indemnity

-

-

-

-

-

168

163

-

-

-

-

-

Class A common stock
Earnings Per Share, Basic

6.80

6.19

4.23

4.52

-

-

-

-

-

-

-

-

Earnings Per Share, Diluted

6.06

5.51

3.76

4.01

-

-

-

-

-

-

-

-

Weighted Average Number of Shares Outstanding, Basic

46

46

46

46

-

-

-

-

-

-

-

-

Weighted Average Number of Shares Outstanding, Diluted

52

52

52

52

-

-

-

-

-

-

-

-

Class B Common Stock
Earnings Per Share, Basic

1,020.00

928.00

635.00

678.00

-

-

-

-

-

-

-

-

Earnings Per Share, Diluted

1,020.00

928.00

634.00

677.00

-

-

-

-

-

-

-

-

Class B common stock
Weighted Average Number of Shares Outstanding, Basic

0

0

0

0

-

-

-

-

-

-

-

-

Weighted Average Number of Shares Outstanding, Diluted

0

0

0

0

-

-

-

-

-

-

-

-