United fire group inc (UFCS)
Income statement / TTM
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

1,093,507

1,086,972

1,084,426

1,074,231

1,054,598

1,037,451

1,026,835

1,017,846

1,006,215

997,492

939,301

923,012

931,277

936,131

904,132

904,084

879,822

851,695

902,958

875,558

848,160

828,330

804,632

786,830

771,370

754,846

744,273

726,585

710,308

694,994

669,789

651,962

634,082

586,783

544,276

502,654

0

0

0

Investment income, net of investment expenses

46,265

60,414

52,884

52,785

55,914

52,894

56,562

57,162

52,097

51,190

33,087

33,322

45,645

55,284

33,112

43,135

44,420

46,559

101,612

100,399

102,210

104,609

107,240

111,681

113,097

112,799

108,106

109,493

109,223

111,905

114,324

112,585

111,577

109,494

108,814

110,179

0

0

0

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

4

4

4

0

-

0

0

-

0

0

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)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,963

7,270

7,241

7,676

9,119

8,834

8,184

8,155

4,572

5,457

5,881

5,705

0

-

0

0

-

0

0

Realized Investment Gains (Losses)

-66,341

53,779

22,543

26,692

14,398

-20,179

8,062

-5,842

-6,058

4,055

2,564

4,626

5,141

4,947

6,746

5,386

0

-

0

0

-

-

-

-

-

-

0

-

-

5,453

6,102

6,021

6,581

6,440

6,318

7,445

0

0

0

Other income (loss)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-11

-62

-107

748

738

1,141

1,685

1,323

1,547

1,194

702

941

689

750

891

1,265

1,905

2,391

2,291

1,950

1,520

0

0

0

Total revenues

1,073,431

1,201,165

1,159,853

1,153,708

1,124,910

1,070,166

1,091,459

1,069,166

1,052,254

1,052,737

974,661

960,669

981,955

996,362

941,392

950,327

926,472

899,271

1,009,414

980,719

957,474

941,894

920,436

907,595

894,641

877,042

861,365

844,922

824,849

813,243

791,480

772,473

754,631

705,008

661,358

621,798

0

0

0

Benefits, Losses and Expenses
Losses and loss settlement expenses

852,435

830,172

800,071

781,986

751,123

731,611

684,898

714,439

713,889

725,713

728,946

675,041

666,857

652,433

590,633

565,856

535,806

520,087

535,241

545,061

537,415

536,243

532,040

508,862

486,581

458,814

490,773

479,361

465,692

459,706

415,541

416,646

445,691

430,389

422,166

374,062

0

0

0

Increase in liability for future policy benefits

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

59,780

55,874

-

42,676

40,444

36,425

36,623

37,555

35,418

37,210

37,625

41,306

42,706

41,193

43,095

35,647

34,999

34,523

32,567

32,447

30,655

0

0

0

Amortization of deferred policy acquisition costs

218,932

216,699

215,867

212,797

208,812

206,232

205,108

206,336

206,924

207,746

202,681

201,935

203,122

202,892

199,713

196,170

187,942

180,183

178,601

174,548

170,387

167,449

164,495

158,618

155,130

153,677

150,493

147,893

145,364

141,834

145,273

152,128

161,681

153,176

141,291

126,191

0

0

0

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)

144,861

137,415

139,849

137,733

141,021

141,473

139,722

131,652

117,224

103,628

81,868

76,098

78,046

83,540

81,962

88,076

86,850

83,631

99,243

94,747

91,977

94,871

91,420

91,409

93,941

89,861

85,404

84,246

81,479

81,125

76,910

70,515

64,694

58,757

55,346

52,218

0

0

0

Interest on policyholders accounts

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

21,426

22,312

-

25,110

27,045

28,873

30,245

31,479

32,601

33,830

35,163

36,825

38,527

40,073

41,409

42,220

42,790

42,820

42,834

43,147

42,897

0

0

0

Total benefits, losses and expenses

1,216,228

1,184,286

1,155,787

1,132,516

1,100,956

1,079,316

1,029,728

1,052,427

1,038,037

1,037,087

974,556

914,135

930,226

938,865

860,537

856,683

814,159

783,901

880,871

881,845

865,077

865,431

856,989

826,908

806,692

775,140

804,801

792,733

773,801

767,169

715,591

717,078

749,409

717,723

694,397

626,023

0

0

0

Income (loss) before income taxes

-142,797

16,879

4,066

21,192

23,954

-9,150

61,731

16,739

14,217

15,650

105

46,534

51,729

57,497

80,855

93,644

112,313

115,370

128,543

98,874

92,397

76,463

63,447

80,687

87,949

101,902

56,564

52,189

51,048

46,074

75,889

55,395

5,222

-12,715

-33,039

-4,225

0

0

0

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

-40,562

2,059

-4,581

-867

-2,458

-11,405

-15,119

-29,959

-32,433

-29,220

-11,455

4,264

6,454

8,379

16,597

21,480

28,245

30,050

35,516

25,056

22,912

17,326

12,580

18,420

20,871

25,762

9,368

7,988

7,627

5,862

16,368

9,380

-8,163

-12,726

-19,082

-8,975

0

0

0

Net income from continuing operations

-

-

8,647

22,059

-

2,255

76,850

46,698

46,650

44,870

11,239

0

0

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income (loss) from discontinued operations, net of taxes

-

-

0

0

-

-1,912

-1,178

40

2,889

6,153

6,159

0

0

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

0

0

-

27,307

27,307

27,307

27,307

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net Income (Loss) Attributable to Parent

-102,235

14,820

8,647

22,059

26,412

27,650

102,979

74,045

76,846

51,023

17,025

47,257

47,413

49,904

68,804

75,970

87,874

89,126

93,027

73,818

69,485

59,137

50,867

62,267

67,078

76,140

47,196

44,201

43,421

40,212

59,521

46,015

13,385

11

-13,957

4,750

0

0

0

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

43,941

70,127

99,777

68,978

34,183

-50,985

-65,765

-31,381

5,471

72,251

-6,137

-34,572

-15,893

13,017

80,714

88,146

2,577

-28,185

-8,010

-18,412

44,933

55,888

40,854

52,982

-25,908

-35,489

-45,038

-25,352

35,321

34,436

66,802

40,350

52,898

40,795

0

0

0

-

-

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

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in liability for underfunded employee benefit plans

20,924

20,924

-25,513

-25,513

-25,513

-25,513

26,122

26,122

26,122

26,122

-30,045

-30,045

-30,045

-30,045

-8,714

-8,714

-8,714

-8,714

47,685

47,685

47,685

47,685

-24,066

-24,066

-24,066

-24,066

15,922

15,922

15,922

15,922

0

0

0

-

-

-

-

-

-

Other comprehensive income, before tax and reclassification adjustments

21,424

49,203

125,290

94,491

59,696

-25,472

-91,887

-57,503

-20,651

46,129

23,908

-4,527

14,152

43,062

89,428

96,860

11,291

-19,471

-55,695

-66,097

-2,752

8,203

64,920

77,048

-1,842

-11,423

-60,960

-41,274

19,399

18,514

0

0

0

-

-

-

-

-

-

Income tax effect

4,500

10,334

26,311

19,842

12,537

-5,349

-20,489

-10,609

1,421

17,540

8,367

-1,585

4,953

15,072

31,301

33,902

3,953

-6,814

-19,493

-23,134

-964

2,871

22,723

26,960

-643

-3,998

-21,163

-14,440

6,786

6,477

0

0

0

-

-

-

-

-

-

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

16,924

38,869

98,979

74,649

47,159

-20,123

-71,398

-46,894

-22,072

28,589

15,541

-2,942

9,199

27,990

58,127

62,958

7,338

-12,657

-36,202

-42,963

-1,788

5,332

42,197

50,088

-1,199

-7,425

-39,797

-26,834

12,613

12,037

0

0

0

-

-

-

-

-

-

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

-1,732

-1,521

128

-498

-731

-784

-64

851

3,022

6,390

5,653

7,554

6,279

4,520

4,464

3,969

4,264

4,513

5,727

4,887

5,498

5,085

4,615

4,247

7,058

6,812

6,361

6,532

0

-

0

0

-

-

-

-

-

-

-

Reclassification adjustment for employee benefit costs included in expense

4,445

4,497

5,032

5,569

6,106

6,642

6,334

6,025

5,716

5,408

5,429

5,448

5,467

5,486

5,980

6,476

6,972

7,468

6,369

5,270

4,171

3,072

3,772

4,919

5,394

5,868

5,911

5,081

5,570

4,971

0

0

0

-

-

-

-

-

-

Reclassification adjustment for net realized gains included in income

-1,732

-1,521

128

-498

-731

-784

-64

851

3,022

6,390

8,119

8,400

0

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

-

-

-

Reclassification adjustment for employee benefit costs included in expense

4,445

4,497

5,032

5,569

6,106

6,642

6,334

6,025

5,716

5,408

5,427

5,446

0

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

Total reclassification adjustments, before tax

-6,177

-6,018

-4,904

-6,067

-6,837

-7,426

-6,398

-5,174

-2,694

982

224

2,106

812

-966

-1,516

-2,507

-2,708

-2,955

-642

-383

1,327

2,013

843

-672

1,664

944

788

1,092

-3,026

-869

0

0

0

-

-

-

-

-

-

Income tax effect

-1,296

-1,263

-1,030

-1,274

-1,435

-1,559

-1,450

-1,324

-715

344

78

737

284

-338

-530

-877

-948

-1,034

-225

-134

464

704

296

-235

583

331

277

384

-1,058

-304

-3,027

-5,474

2,223

1,680

0

0

0

-

-

Total reclassification adjustments, after tax

-4,881

-4,755

-3,874

-4,793

-5,402

-5,867

-4,948

-3,850

-1,979

638

146

1,369

528

-628

-986

-1,630

-1,760

-1,921

-417

-249

863

1,309

547

-437

1,081

613

511

708

-1,968

-565

0

0

0

-

-

-

-

-

-

Adjustment for costs included in employee benefit expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

Other comprehensive income, before tax

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

Other comprehensive income, after tax

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

Comprehensive income (loss)

-80,430

58,444

111,500

101,501

78,973

13,394

36,529

31,001

56,753

78,974

32,420

42,946

56,084

78,522

127,917

140,558

96,972

78,390

57,242

31,104

66,834

63,160

92,517

112,792

64,798

68,102

6,888

16,659

58,002

52,814

83,937

52,168

26,826

5,619

0

0

0

-

-

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