UNITED FIRE GROUP INC UFCS Income Statement

United fire group inc (UFCS)

Income statement / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09
Revenues
Net premiums earned
1,086,972	1,037,451	997,492	936,131	851,695	828,330	754,846	694,994	586,783	469,473	478,498
Investment income, net of investment expenses
60,414	52,894	51,190	55,284	46,559	104,609	112,799	111,905	109,494	111,685	106,075
Net realized investment gains (losses)
Other-than-temporary impairment charges
-	-	-	-	-	0	139	4	395	459	18,307
All other net realized gains (includes reclassifications for net unrealized gains on available-for-sale securities of $4,520 in 2016; $4,513 in 2015; and $5,085 in 2014 previously included in accumulated other comprehensive income)
-	-	-	-	-	7,270	8,834	5,457	6,835	8,948	5,128
Realized Investment Gains (Losses)
53,779	-20,179	4,055	4,947	1,124	7,270	8,695	5,453	6,440	8,489	-13,179
Other income (loss)
-	-	-	-	-107	1,685	702	891	2,291	1,425	799
Total revenues
1,201,165	1,070,166	1,052,737	996,362	899,271	941,894	877,042	813,243	705,008	591,072	572,193
Benefits, Losses and Expenses
Losses and loss settlement expenses
830,172	731,611	725,713	652,433	520,087	536,243	458,814	459,706	430,389	309,796	382,494
Increase in liability for future policy benefits
-	-	-	-	-	36,623	37,625	43,095	32,567	27,229	23,897
Amortization of deferred policy acquisition costs
216,699	206,232	207,746	202,892	180,183	167,449	153,677	141,834	153,176	113,371	114,893
Other underwriting expenses (includes reclassifications for employee benefit costs of $1,072 in 2020 and $1,124 in 2019; previously included in accumulated other comprehensive income)
137,415	141,473	103,628	83,540	83,631	94,871	89,861	81,125	58,757	39,305	39,298
Disaster charges and other related expenses, net of recoveries
-	-	-	-	-	-	-	-	-	-	-1,335
Interest on policyholders accounts
-	-	-	-	-	30,245	35,163	41,409	42,834	42,988	41,652
Total benefits, losses and expenses
1,184,286	1,079,316	1,037,087	938,865	783,901	865,431	775,140	767,169	717,723	532,689	600,899
Income (loss) before income taxes
16,879	-9,150	15,650	57,497	115,370	76,463	101,902	46,074	-12,715	58,383	-28,706
Federal income tax expense (benefit) (includes reclassifications of $250 in 2020 and $217 in 2019; previously included in accumulated other comprehensive income)
2,059	-11,405	-29,220	8,379	30,050	17,326	25,762	5,862	-12,726	10,870	-18,265
Net income from continuing operations
14,820	2,255	44,870	49,118	85,320	-	-	-	-	-	-
Income (loss) from discontinued operations, net of taxes
0	-1,912	6,153	786	3,806	-	-	-	-	-	-
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax
0	27,307	0	0	-	-	-	-	-	-	-
Net Income (Loss) Attributable to Parent
14,820	27,650	51,023	49,904	89,126	59,137	76,140	40,212	11	47,513	-10,441
Other comprehensive income (loss)
Change in net unrealized appreciation on investments
70,127	-50,985	72,251	13,017	-28,185	55,888	-35,489	34,436	40,795	39,577	-
Change in liability for underfunded employee benefit plans
20,924	-25,513	26,122	-30,045	-8,714	47,685	-24,066	15,922	27,528	8,097	-
Other comprehensive income, before tax and reclassification adjustments
49,203	-25,472	46,129	43,062	-19,471	8,203	-11,423	18,514	13,267	-	-
Income tax effect
10,334	-5,349	17,540	15,072	-6,814	2,871	-3,998	6,477	4,540	-	-
Other comprehensive income (loss), after tax, before reclassification adjustments
38,869	-20,123	28,589	27,990	-12,657	5,332	-7,425	12,037	8,727	-	-
Reclassification adjustment for net realized investment (gains) losses included in income
-1,521	-784	6,390	4,520	4,513	5,085	6,812	4,102	7,369	-	-
Reclassification adjustment for employee benefit costs included in expense
4,497	6,642	5,408	5,486	7,468	3,072	5,868	4,971	2,570	2,209	-
Reclassification adjustment for net realized gains included in income
-1,521	-784	6,390	4,520	4,513	-	-	-	-	-8,489	-
Reclassification adjustment for employee benefit costs included in expense
4,497	6,642	5,408	5,486	7,468	-	-	-	-	2,209	-
Total reclassification adjustments, before tax
-6,018	-7,426	982	-966	-2,955	2,013	944	-869	4,799	-	-
Income tax effect
-1,263	-1,559	344	-338	-1,034	704	331	-304	1,680	8,869	-
Total reclassification adjustments, after tax
-4,755	-5,867	638	-628	-1,921	1,309	613	-565	3,119	-	-
Other comprehensive income, before tax
-	-	-	-	-	-	-	-	-	25,200	-
Other comprehensive income, after tax
-	-	-	-	-	-	-	-	-	16,331	-
Comprehensive income (loss)
58,444	13,394	78,974	78,522	78,390	63,160	68,102	52,814	5,619	63,844	-
Weighted average common shares outstanding (in shares)
25,138	25,006	25,103	25,335	25,047	25,230	25,325	25,447	25,878	26,318	26,590
Earnings per common share from continuing operations:
Basic (in dollars per share)
0.59	0.09	1.79	1.94	3.41	-	-	-	-	-	-
Diluted (in dollars per share)
0.58	0.09	1.75	1.90	3.38	-	-	-	-	-	-
Earnings (loss) per common share:
Earnings Per Share, Basic
0.59	1.11	2.03	1.97	3.56	2.34	3.01	1.58	0.00	1.81	-0.39
Earnings Per Share, Diluted
0.58	1.08	1.99	1.93	3.53	2.32	2.98	1.58	0.00	1.80	-0.39
Cash dividends declared per common share (in dollars per share)
-	-	-	-	-	-	-	-	-	0.60	0.60