MARKEL CORPORATION MKL Income Statement

Markel corporation (MKL)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	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	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
OPERATING REVENUES
Premiums Earned, Net
1,330,709	1,346,323	1,300,032	1,199,461	1,203,977	1,227,532	1,185,323	1,148,184	1,151,021	1,131,940	1,099,862	1,033,574	982,602	983,081	974,244	950,859	957,686	958,650	963,675	957,557	943,650	971,931	954,007	965,599	949,375	962,487	919,723	784,819	564,587	573,939	530,537	513,056	529,596	516,825	509,203	490,201	463,111	466,743	435,355	416,688	412,135	448,398	455,214
Net investment income
88,243	112,493	113,382	111,831	114,182	114,505	106,307	105,387	108,016	101,553	104,489	99,299	100,368	93,793	93,147	94,996	91,294	82,692	87,060	90,586	92,875	93,250	91,096	92,169	86,715	88,585	86,192	77,979	64,617	74,273	64,438	63,602	79,794	67,125	62,199	64,253	70,099	71,092	68,652	64,384	68,402	66,298	64,070
Other-than-temporary impairment losses recognized in other comprehensive income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	138	3,168	-	0	0	-3	566	-1,487	-3,757
Other-than-temporary impairment losses recognized in net income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9,984	4,875	-	5,943	0	3,913	2,351	22,432	8,006
Other-than-temporary impairment losses
-	-	-	-	-	-	-	-	-	328	3,444	604	3,213	6,275	0	3,675	8,405	21,108	18,281	0	5,092	926	2,851	1,007	0	-	0	4,589	-	-	3,159	992	-	-	9,846	1,707	-	5,943	0	3,916	1,785	23,919	11,763
Net realized investment gains
9,738	-2,246	150	-67	681	-2,890	-496	-7,642	-946	15,348	11,814	4,829	15,183	-11,205	27,416	20,916	29,584	130,619	3,574	6,105	10,663	18,217	7,046	8,127	17,394	-	11,238	16,135	-	-	8,390	9,208	-	-	22,823	6,219	-	76,929	-8,782	-1,484	-18,094	7,338	7,430
Change in fair value of equity securities
-1,691,179	533,980	31,994	425,720	611,510	-843,032	426,571	112,891	-122,052	-18,808	-48,377	13,402	8,895	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net investment gains (losses)
-1,700,000	531,734	32,144	425,653	612,191	-845,922	426,075	105,249	-122,998	-3,788	-40,007	17,627	20,865	-689	27,416	17,241	21,179	109,511	-14,707	6,105	5,571	17,291	4,195	7,120	17,394	22,451	11,238	11,546	17,917	6,237	5,231	8,216	11,909	10,434	12,839	1,344	11,240	14,266	8,782	-2,429	15,743	-29,770	-15,436
Products revenues
352,161	372,408	386,708	501,676	348,794	368,487	362,577	472,323	294,136	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Services and other revenues
245,994	218,571	200,792	200,495	193,344	178,250	155,667	155,870	145,296	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other revenues
-	-	-	-	-	-	-	-	-	-	341,804	330,993	307,916	-	336,475	312,841	306,023	269,607	306,736	250,357	260,058	253,283	249,988	194,083	186,171	206,262	174,512	157,425	172,743	153,506	165,569	108,373	111,836	90,716	91,847	91,370	77,144	59,805	48,565	36,771	40,439	15,423	18,584
Total Operating Revenues
335,666	2,581,529	2,033,058	2,439,116	2,472,488	1,042,852	2,235,949	1,987,013	1,575,471	1,662,267	1,506,148	1,481,493	1,411,751	1,428,625	1,431,282	1,375,937	1,376,182	1,420,460	1,342,764	1,304,605	1,302,154	1,335,755	1,299,286	1,258,971	1,239,655	1,279,785	1,191,665	1,031,769	819,864	807,955	765,775	693,247	733,135	685,100	676,088	647,168	621,594	611,906	561,354	515,414	536,719	500,349	522,432
OPERATING EXPENSES
Losses and loss adjustment expenses
1,076,348	773,190	752,134	678,120	687,746	869,573	736,846	599,178	615,118	655,632	1,075,432	522,978	611,719	485,819	579,405	511,556	473,964	470,819	484,737	536,194	446,995	478,792	570,966	610,406	542,303	552,599	533,372	442,406	287,896	340,994	303,459	221,094	288,521	282,343	306,632	306,683	314,328	209,984	224,840	251,235	260,170	237,331	286,139
Underwriting, acquisition and insurance expenses
495,163	485,346	475,219	462,316	455,212	459,590	441,961	451,570	424,390	417,944	396,972	401,270	373,278	384,336	372,521	375,580	364,688	369,124	365,619	379,652	340,685	388,897	350,493	365,987	355,505	368,418	352,126	363,095	228,673	234,150	231,841	224,784	238,697	208,668	202,316	196,845	202,350	207,462	181,640	179,106	156,668	193,087	166,394
Products expenses
314,071	356,277	354,404	425,138	319,426	351,248	341,718	450,585	269,697	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Services and other expenses
217,556	176,919	153,358	170,796	174,606	80,613	132,024	129,854	132,433	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of intangible assets
37,858	35,975	35,695	36,300	40,668	29,671	27,795	29,641	28,823	27,308	18,654	18,026	16,770	17,059	17,010	17,204	17,260	18,444	18,914	16,949	14,640	16,635	13,505	13,488	13,999	17,468	16,848	11,292	9,615	8,434	7,959	8,315	8,804	6,705	6,023	5,555	6,008	5,107	3,903	3,856	3,958	1,435	1,434
Impairment of goodwill and intangible assets
-	-	0	0	-	-	0	14,904	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other expenses
-	-	-	-	-	-	-	-	-	-	344,996	298,756	282,633	-	309,713	277,909	275,093	282,819	290,749	242,236	231,001	256,568	231,193	184,942	182,168	203,886	166,566	140,759	152,317	134,786	145,339	97,719	100,404	90,776	70,302	79,473	68,495	58,850	41,074	32,969	35,397	14,193	16,211
Total Operating Expenses
2,140,996	1,827,707	1,770,810	1,772,670	1,677,658	1,974,989	1,680,344	1,675,732	1,470,461	1,483,569	1,836,054	1,241,030	1,284,400	1,214,954	1,278,649	1,182,249	1,131,005	1,141,206	1,160,019	1,175,031	1,033,321	1,140,892	1,166,157	1,174,823	1,093,975	1,142,371	1,068,912	957,552	678,501	718,364	688,598	551,912	636,426	588,492	585,273	588,556	591,181	481,403	451,457	467,166	456,193	446,046	470,178
Operating Income (Loss)
-1,805,330	753,822	262,248	666,446	794,830	-932,137	555,605	311,281	105,010	178,698	-329,906	240,463	127,351	213,671	152,633	193,688	245,177	279,254	182,745	129,574	268,833	194,863	133,129	84,148	145,680	137,414	122,753	74,217	141,363	89,591	77,177	141,335	96,709	96,608	90,815	58,612	30,413	130,503	109,897	48,248	80,526	54,303	52,254
Interest expense
45,030	42,665	47,465	41,267	40,290	39,490	37,961	36,702	40,059	35,438	31,814	31,797	33,402	32,206	33,152	33,697	30,841	29,637	30,064	29,288	29,312	28,306	29,648	29,789	29,699	31,250	30,619	28,561	23,574	23,694	24,692	22,209	22,167	21,736	23,656	21,898	18,962	18,772	18,598	18,334	17,959	12,280	11,842
Net foreign exchange gains (losses)
78,301	-59,266	53,850	25,015	-21,864	41,171	1,383	86,158	-22,114	394	1,772	879	95	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on early extinguishment of debt
-	-	-6,700	-	-	-	0	-	-	-	-	-	-	-	0	-44,100	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income (Loss) Before Income Taxes
-1,772,059	641,010	261,928	650,194	732,676	-930,456	519,027	360,737	42,837	143,654	-359,948	209,545	94,044	180,212	119,481	115,891	214,336	249,617	152,681	100,286	239,521	166,557	103,481	54,359	115,981	106,164	92,134	45,656	117,789	65,897	52,485	119,126	74,542	74,872	67,159	36,714	11,451	111,731	91,299	29,914	62,567	42,023	40,412
Income tax (expense) benefit
-370,683	129,497	57,975	143,711	155,163	-177,082	109,999	81,150	108,431	-295,672	-98,913	58,118	23,004	47,509	36,060	35,218	50,690	51,344	48,271	7,833	45,515	48,335	26,657	13,218	28,480	7,225	25,167	16,980	28,526	7,804	811	28,358	16,829	22,565	12,490	5,065	1,590	-28,718	28,142	8,997	19,361	-17,188	7,382
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
-1,401,376	511,513	203,953	506,483	577,513	-753,374	409,028	279,587	-65,594	439,326	-261,035	151,427	71,040	132,703	83,421	80,673	163,646	198,273	104,410	92,453	194,006	118,222	76,824	41,141	87,501	98,939	66,967	28,676	89,263	58,093	51,674	90,768	57,713	52,307	54,669	31,649	9,861	140,449	63,157	20,917	43,206	59,211	33,030
Net income attributable to noncontrolling interests
4,387	409	-1,684	9,185	1,086	-1,831	-410	1,356	-1,288	4,445	-1,894	1,767	1,171	-23	-375	1,876	3,276	381	1,891	1,084	3,014	627	1,021	1,073	-215	175	1,368	920	361	1,301	2,021	1,081	460	2,131	1,405	1,335	1,589	306	-93	86	637	85	232
Net Income (Loss) Attributable to Parent
-1,405,763	511,104	205,637	497,298	576,427	-751,543	409,438	278,231	-64,306	434,881	-259,141	149,660	69,869	132,726	83,796	78,797	160,370	197,892	102,519	91,369	190,992	117,595	75,803	40,068	87,716	98,764	65,599	27,756	88,902	56,792	49,653	89,687	57,253	50,176	53,264	30,314	8,272	140,143	63,250	20,831	42,569	59,126	32,798
OTHER COMPREHENSIVE INCOME
Net holding gains arising during the period
64,377	-29,988	48,315	128,467	152,331	64,744	-91,002	-98,145	-116,922	209,543	227,447	190,069	160,280	-135,733	23,098	149,406	238,890	18,216	-149,266	-230,142	121,022	339,639	-7,532	208,332	147,296	118,072	84,564	-158,690	181,599	20,369	100,630	-8,029	153,455	147,445	-90,330	64,403	20,321	-19,504	167,638	-49,927	97,441	271,933	121,385
Change in unrealized other-than-temporary impairment losses on fixed maturities arising during the period
-	-	-	-	-	-	-	-	-	-	-	-	-	-75	17	-44	67	-49	8	48	-167	-55	-123	-15	20	101	219	70	-249	24	128	-130	138	-2,286	-189	-1,644	176	-66	295	-170	-731	2,059	3,082
Reclassification adjustments for net gains (losses) included in net income (loss)
-1,187	1,908	-203	-803	246	-2,353	-10,573	5,891	-814	9,698	5,207	222	9,169	220	9,758	10,567	12,983	72,445	-6,000	4,984	9,053	10,409	4,990	4,818	5,944	12,964	7,654	7,957	12,255	3,897	6,484	5,739	7,931	7,055	7,995	827	6,464	13,448	5,744	3,099	10,540	-7,665	-13,447
Change in net unrealized gains on available-for-sale investments, net of taxes
65,564	-31,896	48,518	129,270	152,085	67,097	-80,429	-104,036	-116,108	199,845	222,240	189,847	151,111	-135,878	13,323	138,883	225,840	-54,180	-143,274	-235,174	112,136	329,285	-12,399	203,529	141,332	105,007	76,691	-166,717	169,593	16,448	94,018	-13,638	145,386	142,676	-98,136	65,220	13,681	-32,886	161,599	-52,856	87,632	277,539	131,750
Change in foreign currency translation adjustments, net of taxes
-12,734	6,360	-4,606	-3,749	2,377	3,473	-14,471	-10,450	4,953	-9,321	16,263	1,962	1,545	-5,563	-8,349	-8,121	10,329	-6,995	-10,854	10,385	-21,814	-12,602	-27,223	6,671	913	-212	1,709	-10,459	-1,181	-1,393	3,266	-3,162	2,823	1,347	-8,133	156	2,439	-4,371	129	-2,259	4,219	6,066	6,938
Change in net actuarial pension loss, net of taxes
0	-2,704	-462	-515	-1,361	-600	-509	-568	-664	-3,868	-773	-902	-716	20,347	-390	-394	-463	1,759	-475	-469	-463	15,714	-320	-325	-319	-2,919	-410	-366	-370	-5,177	-522	-482	-483	9,847	-379	-355	346	-3,785	350	336	350	-2,872	383
Total Other Comprehensive Income
52,830	-22,832	44,374	126,036	155,823	71,170	-94,391	-113,918	-110,491	194,392	239,276	192,711	153,372	-161,788	5,364	131,156	236,632	-62,934	-153,653	-224,320	90,785	300,969	-39,302	210,525	142,564	107,714	78,810	-176,810	168,782	20,232	97,806	-16,318	148,692	133,484	-105,890	65,731	16,466	-35,544	162,078	-54,779	92,201	280,733	139,071
Comprehensive Income (Loss)
-1,348,546	488,681	248,327	632,519	733,336	-682,204	314,637	165,669	-176,085	633,718	-21,759	344,138	224,412	-29,085	88,785	211,829	400,278	135,339	-49,243	-131,867	284,791	419,191	37,522	251,666	230,065	206,653	145,777	-148,134	258,045	78,325	149,480	74,450	206,405	185,791	-51,221	97,380	26,327	104,905	225,235	-33,862	135,407	339,944	172,101
Comprehensive income attributable to noncontrolling interests
4,263	437	-1,742	9,189	1,091	-1,831	-469	1,333	-1,246	4,471	-1,890	1,781	1,173	-35	-376	1,887	3,284	355	1,900	1,058	2,984	620	1,020	1,078	-208	203	1,368	920	361	1,338	2,026	1,034	460	2,095	1,405	1,335	1,589	306	-93	41	868	85	232
Comprehensive Income (Loss) to Shareholders
-1,352,809	488,244	250,069	623,330	732,245	-680,373	315,106	164,336	-174,839	629,247	-19,869	342,357	223,239	-29,050	89,161	209,942	396,994	134,984	-51,143	-132,925	281,807	418,571	36,502	250,588	230,273	206,450	144,409	-149,054	257,684	76,987	147,454	73,416	205,945	183,696	-52,626	96,045	24,738	104,599	225,328	-33,903	134,539	339,859	171,869
NET INCOME (LOSS) PER SHARE
Earnings Per Share, Basic
-100.60	36.37	13.97	36.10	42.81	-53.87	28.56	20.01	-4.25	30.46	-18.82	10.34	3.91	9.14	5.62	5.44	11.21	14.23	7.43	6.76	13.57	8.10	5.33	2.67	6.28	6.11	4.69	2.24	9.53	6.25	5.33	8.44	5.94	5.19	5.50	3.12	0.85	14.35	6.49	2.13	4.34	6.02	3.34
Earnings Per Share, Diluted
-100.60	36.29	13.95	36.07	42.76	-53.77	28.50	19.97	-4.25	30.42	-18.82	10.31	3.90	9.11	5.60	5.41	11.15	14.14	7.39	6.72	13.49	8.06	5.30	2.66	6.25	6.07	4.67	2.24	9.50	6.23	5.32	8.42	5.92	5.16	5.48	3.11	0.85	14.34	6.48	2.12	4.33	6.02	3.34