United fire group inc (UFCS)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
Revenues
Net premiums earned

268,849

273,230

274,942

276,486

262,314

270,684

264,747

256,853

245,167

260,068

255,758

245,222

236,444

201,877

239,469

253,487

241,298

169,878

239,421

229,225

213,171

221,141

212,021

201,827

193,341

197,443

194,219

186,367

176,817

186,870

176,531

170,090

161,503

161,665

158,704

152,210

114,204

119,158

117,082

Investment income, net of investment expenses

2,363

16,491

13,291

14,120

16,512

8,961

13,192

17,249

13,492

12,629

13,792

12,184

12,585

-5,474

14,027

24,507

22,224

-27,646

24,050

25,792

24,363

27,407

22,837

27,603

26,762

30,038

27,278

29,019

26,464

25,345

28,665

28,749

29,146

27,764

26,926

27,741

27,063

27,084

28,291

Net realized investment gains (losses)
Other-than-temporary impairment charges

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

139

-

-

0

0

4

0

-

0

0

-

0

117

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)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

887

1,474

894

2,708

2,194

1,445

1,329

4,151

1,909

795

1,300

568

2,794

-

1,219

1,124

-

1,322

2,463

Realized Investment Gains (Losses)

-93,407

3,653

9,822

13,591

26,713

-27,583

13,971

1,297

-7,864

658

67

1,081

2,249

-833

2,129

1,596

2,055

-

966

769

-

-

-

-

-

-

1,190

-

-

795

1,300

564

2,794

1,444

1,219

1,124

2,653

1,322

2,346

Other income (loss)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

183

108

-425

123

132

63

430

113

535

607

68

337

182

115

307

85

243

256

681

725

729

156

340

295

Total revenues

177,805

293,374

298,055

304,197

305,539

252,062

291,910

275,399

250,795

273,355

269,617

258,487

251,278

195,279

255,625

279,773

265,685

140,309

264,560

255,918

238,484

250,452

235,865

232,673

222,904

228,994

223,024

219,719

205,305

213,317

206,581

199,646

193,699

191,554

187,574

181,804

144,076

147,904

148,014

Benefits, Losses and Expenses
Losses and loss settlement expenses

186,503

234,171

211,752

220,009

164,240

204,070

193,667

189,146

144,728

157,357

223,208

188,596

156,552

160,590

169,303

180,412

142,128

98,790

144,526

150,362

126,409

113,944

154,346

142,716

125,237

109,741

131,168

120,435

97,470

141,700

119,756

106,766

91,484

97,535

120,861

135,811

76,182

89,312

72,757

Increase in liability for future policy benefits

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

16,002

12,552

-

12,784

12,096

7,623

10,173

10,552

8,077

7,821

11,105

8,415

9,869

8,236

14,786

9,815

8,356

10,138

7,338

9,167

7,880

8,182

7,218

7,375

Amortization of deferred policy acquisition costs

54,452

54,857

54,828

54,795

52,219

54,025

51,758

50,810

49,639

52,901

52,986

51,398

50,461

47,836

52,240

52,585

50,231

44,657

48,697

44,357

42,472

43,075

44,644

40,196

39,534

40,121

38,767

36,708

38,081

36,937

36,167

34,179

34,551

40,376

43,022

43,732

26,046

28,491

27,922

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)

41,849

33,045

36,003

33,964

34,403

35,479

33,887

37,252

34,855

33,728

25,817

22,824

21,259

11,968

20,047

24,772

26,753

10,390

26,161

23,546

23,534

26,002

21,665

20,776

26,428

22,551

21,654

23,308

22,348

18,094

20,496

20,541

21,994

13,879

14,101

14,720

16,057

10,468

10,973

Interest on policyholders accounts

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,138

5,247

-

5,568

6,024

6,615

6,903

7,503

7,852

7,987

8,137

8,625

9,081

9,320

9,799

10,327

10,627

10,656

10,610

10,897

10,657

10,670

10,923

10,647

Total benefits, losses and expenses

282,804

322,073

302,583

308,768

250,862

293,574

279,312

277,208

229,222

243,986

302,011

262,818

228,272

181,455

241,590

278,909

236,911

103,127

237,736

236,385

206,653

200,097

238,710

219,617

207,007

191,655

208,629

199,401

175,455

221,316

196,561

180,469

168,823

169,738

198,048

212,800

137,137

146,412

129,674

Income (loss) before income taxes

-104,999

-28,699

-4,528

-4,571

54,677

-41,512

12,598

-1,809

21,573

29,369

-32,394

-4,331

23,006

13,824

14,035

864

28,774

37,182

26,824

19,533

31,831

50,355

-2,845

13,056

15,897

37,339

14,395

20,318

29,850

-7,999

10,020

19,177

24,876

21,816

-10,474

-30,996

6,939

1,492

18,340

Federal income tax expense (benefit) (includes reclassifications of $250 in 2020 and $217 in 2019; previously included in accumulated other comprehensive income)

-32,465

-5,536

-2,186

-375

10,156

-12,176

1,528

-1,966

1,209

-15,890

-13,312

-4,440

4,422

1,875

2,407

-2,250

6,347

10,093

7,290

4,515

8,152

15,559

-3,170

2,371

2,566

10,813

2,670

4,822

7,457

-5,581

1,290

4,461

5,692

4,925

-5,698

-13,082

1,129

-1,431

4,409

Net income from continuing operations

-

-

-2,342

-4,196

-

-29,336

11,070

157

20,364

45,259

-19,082

109

18,584

-

11,628

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income (loss) from discontinued operations, net of taxes

-

-

0

0

-

0

0

0

-1,912

734

1,218

2,849

1,352

-

740

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax

-

-

0

0

-

0

0

0

27,307

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net Income (Loss) Attributable to Parent

-72,534

-23,163

-2,342

-4,196

44,521

-29,336

11,070

157

45,759

45,993

-17,864

2,958

19,936

11,995

12,368

3,114

22,427

30,895

19,534

15,018

23,679

34,796

325

10,685

13,331

26,526

11,725

15,496

22,393

-2,418

8,730

14,716

19,184

16,891

-4,776

-17,914

5,810

2,923

13,931

Other comprehensive income (loss)
Change in net unrealized appreciation on investments

7,168

-7,233

15,410

28,596

33,354

22,417

-15,389

-6,199

-51,814

7,637

18,995

30,653

14,966

-70,751

-9,440

49,332

43,876

-3,054

-2,008

-36,237

13,114

17,121

-12,410

27,108

24,069

2,087

-282

-51,782

14,488

-7,462

19,404

8,891

13,603

24,904

-7,048

21,439

1,500

-

-

Change in net unrealized appreciation on investments for which an allowance for a credit loss has been recorded

-1,593

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in liability for underfunded employee benefit plans

0

20,924

0

0

0

-25,513

0

0

0

26,122

0

0

0

-30,045

0

0

0

-8,714

0

0

0

47,685

0

0

0

-24,066

0

0

0

15,922

0

0

0

-

-

-

-

-

-

Other comprehensive income, before tax and reclassification adjustments

5,575

-28,157

15,410

28,596

33,354

47,930

-15,389

-6,199

-51,814

-18,485

18,995

30,653

14,966

-40,706

-9,440

49,332

43,876

5,660

-2,008

-36,237

13,114

-30,564

-12,410

27,108

24,069

26,153

-282

-51,782

14,488

-23,384

19,404

8,891

13,603

-

-

-

-

-

-

Income tax effect

1,171

-5,912

3,237

6,004

7,005

10,065

-3,232

-1,301

-10,881

-5,075

6,648

10,729

5,238

-14,248

-3,304

17,267

15,357

1,981

-703

-12,682

4,590

-10,698

-4,344

9,488

8,425

9,154

-107

-18,115

5,070

-8,011

6,616

3,111

4,761

-

-

-

-

-

-

Other comprehensive income (loss), after tax, before reclassification adjustments

4,404

-22,245

12,173

22,592

26,349

37,865

-12,157

-4,898

-40,933

-13,410

12,347

19,924

9,728

-26,458

-6,136

32,065

28,519

3,679

-1,305

-23,555

8,524

-19,866

-8,066

17,620

15,644

16,999

-175

-33,667

9,418

-15,373

12,788

5,780

8,842

-

-

-

-

-

-

Reclassification adjustment for net realized investment (gains) losses included in income

-121

-1,778

130

37

90

-129

-496

-196

37

591

419

1,975

3,405

-146

2,320

700

1,646

-202

1,825

995

1,895

1,012

985

1,606

1,482

542

617

4,417

1,236

-

91

788

-

-

-

-

-

-

-

Reclassification adjustment for employee benefit costs included in expense

1,072

1,125

1,124

1,124

1,124

1,660

1,661

1,661

1,660

1,352

1,352

1,352

1,352

1,373

1,371

1,371

1,371

1,867

1,867

1,867

1,867

768

768

768

768

1,468

1,915

1,243

1,242

1,511

1,085

1,732

643

-

-

-

-

-

-

Reclassification adjustment for net realized gains included in income

-121

-1,778

130

37

90

-129

-496

-196

37

591

419

1,975

3,405

-

2,320

700

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,117

788

-2,794

-

-1,219

-1,124

-

-

-

Reclassification adjustment for employee benefit costs included in expense

1,072

1,125

1,124

1,124

1,124

1,660

1,661

1,661

1,660

1,352

1,352

1,352

1,352

-

1,371

1,371

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,085

1,732

643

-

-643

-732

-2,653

-

-

Total reclassification adjustments, before tax

-1,193

-2,903

-994

-1,087

-1,034

-1,789

-2,157

-1,857

-1,623

-761

-933

623

2,053

-1,519

949

-671

275

-2,069

-42

-872

28

244

217

838

714

-926

-1,298

3,174

-6

-1,082

-994

-944

2,151

-

-

-

-

-

-

Income tax effect

-250

-608

-209

-229

-217

-375

-453

-390

-341

-266

-327

219

718

-532

332

-234

96

-724

-15

-305

10

85

76

293

250

-323

-455

1,111

-2

-377

-348

-331

752

-3,100

-2,795

7,366

209

-

-

Total reclassification adjustments, after tax

-943

-2,295

-785

-858

-817

-1,414

-1,704

-1,467

-1,282

-495

-606

404

1,335

-987

617

-437

179

-1,345

-27

-567

18

159

141

545

464

-603

-843

2,063

-4

-705

-646

-613

1,399

-

-

-

-

-

-

Adjustment for costs included in employee benefit expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

554

-

-

Other comprehensive income, before tax

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-7,624

21,047

-599

-

-

Other comprehensive income, after tax

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-4,829

13,681

-390

-

-

Comprehensive income (loss)

-67,187

-43,113

10,616

19,254

71,687

9,943

617

-3,274

6,108

33,078

-4,911

22,478

28,329

-13,476

5,615

35,616

50,767

35,919

18,256

-7,970

32,185

14,771

-7,882

27,760

28,511

44,128

12,393

-20,234

31,815

-17,086

22,164

21,109

26,627

14,037

-9,605

-4,233

5,420

-

-

Weighted average common shares outstanding (in shares)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

25,366

25,209

25,108

25,067

25,023

24,990

25,032

25,188

25,330

25,372

25,400

25,359

25,297

25,245

25,386

25,423

25,476

25,505

25,494

25,722

26,101

26,195

26,279

26,356,353

Weighted Average Number of Shares Outstanding, Diluted

25,014

-

25,176

25,210

25,604

-

25,626

25,611

25,458

-

24,960

25,624

25,854

-

25,815

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Earnings per common share from continuing operations:
Basic (in dollars per share)

-

-

-0.09

-0.17

-

-1.18

0.44

0.01

0.82

1.82

-0.77

0.01

0.73

-

0.46

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Diluted (in dollars per share)

-

-

-0.09

-0.17

-

-1.15

0.43

0.01

0.80

1.79

-0.77

0.01

0.72

-

0.45

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Earnings (loss) per common share:
Earnings Per Share, Basic

-2.90

-0.92

-0.09

-0.17

1.77

-1.18

0.44

0.01

1.84

1.85

-0.72

0.12

0.78

0.47

0.49

0.12

0.89

1.23

0.78

0.60

0.95

1.38

0.01

0.42

0.53

1.05

0.46

0.61

0.89

-0.09

0.34

0.58

0.75

0.66

-0.19

-0.69

0.22

0.11

0.53

Earnings Per Share, Diluted

-2.90

-0.90

-0.09

-0.17

1.74

-1.16

0.43

0.01

1.80

1.82

-0.72

0.12

0.77

0.45

0.48

0.12

0.88

1.23

0.77

0.59

0.94

1.37

0.01

0.42

0.52

1.04

0.45

0.61

0.88

-0.09

0.34

0.58

0.75

0.66

-0.19

-0.69

0.22

0.11

0.53

Cash dividends declared per common share (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.15

0.15

0.15

-

0.15

0.15

0.15

0.15

0.15