SAFETY INSURANCE GROUP, INC. SAFT Income Statement

Safety insurance group, inc. (SAFT)

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	Sep'10	Jun'10
Revenues
Net earned premiums
197,895	199,450	198,410	196,426	194,491	198,461	196,968	194,125	192,033	196,361	195,524	192,824	189,711	192,001	190,712	187,393	185,654	186,571	186,582	182,447	182,564	182,478	180,277	178,150	175,970	173,635	172,246	169,550	166,439	165,370	162,493	159,070	155,536	153,748	151,254	148,720	144,646	139,190	136,143
Net investment income
10,710	12,393	11,947	10,574	11,751	11,949	11,120	10,188	10,531	10,445	9,503	9,715	9,095	10,178	8,967	9,641	9,627	9,710	9,950	10,317	10,557	11,012	10,809	9,909	10,573	12,917	10,023	9,727	10,387	10,319	10,142	10,500	9,909	9,344	10,081	9,470	10,165	10,108	10,857
Earnings from partnership investments
1,339	506	-139	735	835	376	1,188	487	4,864	849	351	769	113	96	802	1,409	878	-	859	577	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net realized losses on investments
-631	1,463	1,194	483	-164	278	53	1,589	1,306	1,210	2,717	567	1,542	631	4,891	360	-323	-397	-310	-173	411	-486	284	379	20	478	657	140	402	749	153	617	456	1,658	1,844	1,277	-419	363	-178
Change in net unrealized gains on equity investments
-29,988	6,286	-387	3,754	11,801	-12,575	2,444	-2,711	-3,482	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net impairment losses on investments (a)
-	492	123	54	220	-	228	-	-	-	256	-	-	369	0	137	292	362	434	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Credit loss expense
2,510	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Finance and other service income
4,229	4,293	4,371	4,084	4,085	4,412	4,362	4,292	4,467	4,700	4,690	4,374	4,309	4,421	4,713	4,284	4,285	4,569	4,623	4,434	4,507	4,763	4,749	4,508	4,524	4,763	4,768	4,584	4,568	4,784	4,743	4,521	4,505	4,639	4,856	4,470	4,405	4,770	4,576
Total revenue
181,044	223,899	215,273	216,002	222,579	202,901	215,907	207,970	209,719	213,565	212,529	208,249	204,770	206,958	210,085	202,950	199,829	201,042	201,270	197,602	198,039	198,645	196,119	192,946	191,087	191,793	187,694	184,001	181,796	181,222	177,531	174,708	170,406	169,389	168,035	163,937	158,797	154,431	151,398
Expenses
Losses and loss adjustment expenses
120,746	126,460	134,966	122,393	126,027	117,949	116,693	113,227	137,644	134,616	123,792	117,049	128,430	127,349	124,961	115,144	125,979	128,288	128,931	147,026	208,324	127,186	119,742	108,550	120,888	119,445	109,183	106,976	112,145	115,033	106,445	102,695	98,044	119,281	111,545	114,184	121,630	88,455	87,776
Underwriting, operating and related expenses
63,082	61,949	60,845	60,908	60,434	61,718	62,496	61,573	60,856	64,793	62,994	60,979	59,670	61,141	58,406	57,513	55,957	56,020	53,624	52,198	52,097	56,820	54,378	54,418	53,407	55,253	52,940	51,467	50,098	53,536	50,054	48,010	48,538	47,004	45,453	44,071	42,629	44,229	42,257
Interest expense
47	23	22	23	22	23	22	23	22	23	22	23	22	23	22	23	22	23	22	23	22	23	22	23	22	23	23	21	22	22	22	22	22	22	23	21	22	22	22
Total expenses
183,875	188,432	195,833	183,324	186,483	179,690	179,211	174,823	198,522	199,432	186,808	178,051	188,122	188,513	183,389	172,680	181,958	184,331	182,577	199,247	260,443	184,029	174,142	162,991	174,317	174,721	162,146	158,464	162,265	168,591	156,521	150,727	146,604	166,307	157,021	158,276	164,281	132,706	130,055
(Loss) income before income taxes
-2,831	35,467	19,440	32,678	36,096	23,211	36,696	33,147	11,197	14,133	25,721	30,198	16,648	18,445	26,696	30,270	17,871	16,711	18,693	-1,645	-62,404	14,616	21,977	29,955	16,770	17,072	25,548	25,537	19,531	12,631	21,010	23,981	23,802	3,082	11,014	5,661	-5,484	21,725	21,343
Income tax (benefit) expense
-841	7,365	3,821	6,744	6,150	4,865	7,788	6,331	2,072	2,824	7,767	9,093	4,629	6,492	8,099	8,905	5,201	6,421	6,712	-592	-27,333	4,246	6,541	8,532	4,645	5,420	7,892	7,478	5,547	3,060	6,676	7,025	6,593	-1,679	2,204	1,576	-1,530	6,258	6,254
Net (loss) income
-1,990	28,102	15,619	25,934	29,946	18,346	28,908	26,816	9,125	11,309	17,954	21,105	12,019	11,953	18,597	21,365	12,670	10,290	11,981	-1,053	-35,071	10,370	15,436	21,423	12,125	11,652	17,656	18,059	13,984	9,571	14,334	16,956	17,209	4,761	8,810	4,085	-3,954	15,467	15,089
(Loss) earnings per weighted average common share:
Basic (in dollars per share)
-0.13	1.83	1.02	1.70	1.97	1.21	1.90	1.77	0.60	0.74	1.19	1.40	0.80	0.79	1.24	1.42	0.84	0.71	0.80	-0.07	-2.37	0.71	1.03	1.40	0.79	0.76	1.15	1.17	0.91	0.62	0.94	1.11	1.13	0.31	0.58	0.27	-0.26	1.03	1.00
Diluted (in dollars per share)
-0.13	1.82	1.01	1.68	1.95	1.20	1.88	1.75	0.60	0.74	1.18	1.39	0.79	0.79	1.23	1.41	0.84	0.71	0.80	-0.07	-2.37	0.69	1.03	1.40	0.79	0.76	1.14	1.17	0.91	0.62	0.94	1.11	1.13	0.31	0.58	0.27	-0.26	1.03	1.00
Cash dividends paid per common share (in dollars per share)
0.90	0.90	0.90	0.80	0.80	0.80	0.80	0.80	0.80	0.80	0.80	0.70	0.70	0.70	0.70	0.70	0.70	0.70	0.70	0.70	0.70	0.70	0.70	0.60	0.60	0.60	0.60	0.60	0.60	0.60	0.60	0.50	0.50	0.50	0.50	0.50	0.50	0.50	0.40
Number of shares used in computing earnings per share:
Basic (in shares)
15,230	15,222	15,220	15,220	15,140	15,092	15,091	15,090	15,045	15,021	15,021	15,020	14,980	14,960	14,960	14,960	14,903	14,882	14,880	14,879	14,824	14,720	14,804	15,132	15,194	14,579	15,369	15,380	15,339	15,321	15,312	15,302	15,217	15,187	15,187	15,184	15,100	15,018	15,113
Diluted (in shares)
15,347	15,338	15,360	15,346	15,305	15,264	15,250	15,213	15,191	15,168	15,161	15,114	15,096	15,075	15,076	15,041	14,936	14,855	14,907	14,879	14,824	14,831	14,910	15,213	15,255	14,641	15,429	15,421	15,356	15,327	15,319	15,309	15,225	15,209	15,195	15,198	15,100	15,036	15,130