$ERIE
ERIE INDEMNITY CO Stock $erie

$erie Overview Financials Valuation SEC Filings Company Website

2016 Q1 Form 10-Q Financial Statement

#000092262116000077 Filed on April 28, 2016

Income Statement

Concept	2016 Q1	2015 Q4	2015 Q1
Revenue	$374.7M	$356.4M	$350.8M
YoY Change	6.81%	5.67%	7.54%
Cost Of Revenue			$1.060B
YoY Change			2.51%
Gross Profit			-$709.2M
YoY Change			0.2%
Gross Profit Margin			-202.14%
Selling, General & Admin	$53.30M	$56.00M	$55.00M
YoY Change	-3.09%	-107.18%	-82.87%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses	$307.1M	$314.5M	$298.4M
YoY Change	2.9%	4.21%	11.42%
Operating Profit	$67.67M		$52.43M
YoY Change	29.06%		-105.37%
Interest Expense	$2.900M	$5.200M	$6.700M
YoY Change	-56.72%	-101.25%	-95.79%
% of Operating Profit	4.29%		12.78%
Other Income/Expense, Net
YoY Change
Pretax Income	$70.22M	$46.08M	$58.97M
YoY Change	19.09%	22.06%	-15.79%
Income Tax	$24.33M	$16.00M	$20.14M
% Of Pretax Income	34.64%	34.72%	34.15%
Net Earnings	$45.90M	$30.13M	$38.83M
YoY Change	18.19%	19.12%	-16.06%
Net Earnings / Revenue	12.25%	8.46%	11.07%
Basic Earnings Per Share
Diluted Earnings Per Share	$874.3K	$386.4K	$737.6K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept	2016 Q1	2015 Q4	2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$163.0M	$245.0M	$420.0M
YoY Change	-61.19%	58.06%	10.82%
Cash & Equivalents	$105.3M	$182.9M	$57.61M
Short-Term Investments	$57.00M	$62.00M
Other Short-Term Assets	$37.00M	$25.00M
YoY Change		-3.85%
Inventory
Prepaid Expenses
Receivables	$358.0M	$354.0M
Other Receivables	$0.00	$11.00M
Total Short-Term Assets	$558.0M	$635.1M	$420.0M
YoY Change	32.85%	19.11%	10.82%
LONG-TERM ASSETS
Property, Plant & Equipment	$59.00M	$59.00M
YoY Change		-6.35%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$82.91M	$88.54M	$915.0M
YoY Change	-90.94%	-21.38%	-16.67%
Other Assets	$19.65M	$20.97M	$1.319B
YoY Change	-98.51%	-2.59%	8.29%
Total Long-Term Assets	$782.7M	$772.2M	$17.57B
YoY Change	-95.55%	-1.76%	6.17%
TOTAL ASSETS
Total Short-Term Assets	$558.0M	$635.1M	$420.0M
Total Long-Term Assets	$782.7M	$772.2M	$17.57B
Total Assets	$1.341B	$1.407B	$17.99B
YoY Change	-92.55%	6.68%	6.27%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$79.00M	$46.53M
YoY Change		29.8%
Accrued Expenses	$32.00M	$149.0M
YoY Change		16.41%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$371.8M	$445.7M	$8.638B
YoY Change	-95.7%	11.38%	4.86%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$0.00	$0.00
YoY Change
Other Long-Term Liabilities	$1.500M	$1.580M	$724.0M
YoY Change	-99.79%	41.96%	41.68%
Total Long-Term Liabilities	$1.500M	$1.580M	$724.0M
YoY Change	-99.79%	41.96%	41.68%
TOTAL LIABILITIES
Total Short-Term Liabilities	$371.8M	$445.7M	$8.638B
Total Long-Term Liabilities	$1.500M	$1.580M	$724.0M
Total Liabilities	$555.8M	$637.8M	$9.856B
YoY Change	-94.36%	3.53%	6.66%
SHAREHOLDERS EQUITY
Retained Earnings	$2.006B	$1.994B
YoY Change		2.34%
Common Stock	$16.31M	$16.31M
YoY Change		-0.04%
Preferred Stock
YoY Change
Treasury Stock (at cost)	$1.155B	$1.155B
YoY Change		0.79%
Treasury Stock Shares	22.11M shares	22.11M shares
Shareholders Equity	$784.9M	$769.5M	$710.0M
YoY Change
Total Liabilities & Shareholders Equity	$1.341B	$1.407B	$17.99B
YoY Change	-92.55%	6.68%	6.27%

Cashflow Statement

Concept	2016 Q1	2015 Q4	2015 Q1
OPERATING ACTIVITIES
Net Income	$45.90M	$30.13M	$38.83M
YoY Change	18.19%	19.12%	-16.06%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities	-$21.80M	$86.40M	-$15.30M
YoY Change	42.48%	-123.8%	-128.33%
INVESTING ACTIVITIES
Capital Expenditures	-$3.500M	-$5.400M	-$2.400M
YoY Change	45.83%	-156.84%	-60.0%
Acquisitions
YoY Change
Other Investing Activities	-$18.40M	$11.50M	$15.30M
YoY Change	-220.26%	-97.78%	-117.19%
Cash From Investing Activities	-$21.80M	$6.100M	$12.80M
YoY Change	-270.31%	-98.84%	-113.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net			$0.00
YoY Change			-100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-34.00M	-31.80M	-31.70M
YoY Change	7.26%	-35.37%	-0.94%
NET CHANGE
Cash From Operating Activities	-21.80M	86.40M	-15.30M
Cash From Investing Activities	-21.80M	6.100M	12.80M
Cash From Financing Activities	-34.00M	-31.80M	-31.70M
Net Change In Cash	-77.60M	60.70M	-34.20M
YoY Change	126.9%	-47.54%	-53.15%
FREE CASH FLOW
Cash From Operating Activities	-$21.80M	$86.40M	-$15.30M
Capital Expenditures	-$3.500M	-$5.400M	-$2.400M
Free Cash Flow	-$18.30M	$91.80M	-$12.90M
YoY Change	41.86%	-124.64%	-121.5%

Facts In Submission

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CY2015Q4	us-gaap	Liabilities Liabilities	637793000	USD
CY2016Q1	us-gaap	Liabilities Liabilities	555757000	USD
CY2015Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	1407296000	USD
CY2016Q1	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	1340624000	USD
CY2015Q4	us-gaap	Liabilities Current LiabilitiesCurrent	445699000	USD
CY2016Q1	us-gaap	Liabilities Current LiabilitiesCurrent	371758000	USD
CY2015Q1	us-gaap	Net Cash Provided By Used In Continuing Operations NetCashProvidedByUsedInContinuingOperations	-34140000	USD
CY2016Q1	us-gaap	Net Cash Provided By Used In Continuing Operations NetCashProvidedByUsedInContinuingOperations	-77607000	USD
CY2015Q1	us-gaap	Net Cash Provided By Used In Financing Activities Continuing Operations NetCashProvidedByUsedInFinancingActivitiesContinuingOperations	-31714000	USD
CY2016Q1	us-gaap	Net Cash Provided By Used In Financing Activities Continuing Operations NetCashProvidedByUsedInFinancingActivitiesContinuingOperations	-33996000	USD
CY2015Q1	us-gaap	Net Cash Provided By Used In Investing Activities Continuing Operations NetCashProvidedByUsedInInvestingActivitiesContinuingOperations	12825000	USD
CY2016Q1	us-gaap	Net Cash Provided By Used In Investing Activities Continuing Operations NetCashProvidedByUsedInInvestingActivitiesContinuingOperations	-21849000	USD
CY2015Q1	us-gaap	Net Cash Provided By Used In Operating Activities Continuing Operations NetCashProvidedByUsedInOperatingActivitiesContinuingOperations	-15251000	USD
CY2016Q1	us-gaap	Net Cash Provided By Used In Operating Activities Continuing Operations NetCashProvidedByUsedInOperatingActivitiesContinuingOperations	-21762000	USD
CY2015Q1	us-gaap	Net Income Loss NetIncomeLoss	38833000	USD
CY2016Q1	us-gaap	Net Income Loss NetIncomeLoss	45895000	USD
CY2015Q1	us-gaap	Net Investment Income NetInvestmentIncome	4541000	USD
CY2016Q1	us-gaap	Net Investment Income NetInvestmentIncome	4662000	USD
CY2015Q4	us-gaap	Notes Receivable Related Parties Noncurrent NotesReceivableRelatedPartiesNoncurrent	25000000	USD
CY2016Q1	us-gaap	Notes Receivable Related Parties Noncurrent NotesReceivableRelatedPartiesNoncurrent	25000000	USD
CY2015Q1	us-gaap	Operating Expenses OperatingExpenses	298401000	USD
CY2016Q1	us-gaap	Operating Expenses OperatingExpenses	307063000	USD
CY2015Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	52430000	USD
CY2016Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	67665000	USD
CY2015Q4	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	20968000	USD
CY2016Q1	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	19647000	USD
CY2016Q1	us-gaap	Other Commitment OtherCommitment	19100000	USD
CY2016Q1	us-gaap	Other Commitments Description OtherCommitmentsDescription	Contractual commitments to invest in limited partnership investments, consisting of private equity securities, mezzanine debt securities, and real estate activities.
CY2015Q1	us-gaap	Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent	100000	USD
CY2016Q1	us-gaap	Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent	3465000	USD
CY2015Q1	us-gaap	Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent	100000	USD
CY2016Q1	us-gaap	Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent	3465000	USD
CY2015Q1	us-gaap	Other Cost And Expense Operating OtherCostAndExpenseOperating	49665000	USD
CY2016Q1	us-gaap	Other Cost And Expense Operating OtherCostAndExpenseOperating	45060000	USD
CY2015Q4	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	1580000	USD
CY2016Q1	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	1500000	USD
CY2015Q4	us-gaap	Other Postretirement Defined Benefit Plan Liabilities Noncurrent OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent	1234000	USD
CY2016Q1	us-gaap	Other Postretirement Defined Benefit Plan Liabilities Noncurrent OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent	1072000	USD
CY2015Q1	us-gaap	Other Than Temporary Impairment Losses Investments Availableforsale Securities OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities	120000	USD
CY2016Q1	us-gaap	Other Than Temporary Impairment Losses Investments Availableforsale Securities OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities	345000	USD
CY2015Q1	us-gaap	Other Than Temporary Impairment Losses Investments Portion In Other Comprehensive Income Loss Before Tax Including Portion Attributable To Noncontrolling Interest Availableforsale Securities OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossBeforeTaxIncludingPortionAttributableToNoncontrollingInterestAvailableforsaleSecurities	0	USD
CY2016Q1	us-gaap	Other Than Temporary Impairment Losses Investments Portion In Other Comprehensive Income Loss Before Tax Including Portion Attributable To Noncontrolling Interest Availableforsale Securities OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossBeforeTaxIncludingPortionAttributableToNoncontrollingInterestAvailableforsaleSecurities	0	USD
CY2015Q1	us-gaap	Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net Availableforsale Securities OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNetAvailableforsaleSecurities	120000	USD
CY2016Q1	us-gaap	Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net Availableforsale Securities OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNetAvailableforsaleSecurities	345000	USD
CY2015Q1	us-gaap	Payments For Commissions PaymentsForCommissions	169821000	USD
CY2016Q1	us-gaap	Payments For Commissions PaymentsForCommissions	172625000	USD
CY2015Q1	us-gaap	Payments For Other Operating Activities PaymentsForOtherOperatingActivities	61715000	USD
CY2016Q1	us-gaap	Payments For Other Operating Activities PaymentsForOtherOperatingActivities	52220000	USD
CY2015Q1	us-gaap	Payments For Proceeds From Loans Receivable PaymentsForProceedsFromLoansReceivable	644000	USD
CY2016Q1	us-gaap	Payments For Proceeds From Loans Receivable PaymentsForProceedsFromLoansReceivable	-1008000	USD
CY2015Q1	us-gaap	Payments For Proceeds From Productive Assets PaymentsForProceedsFromProductiveAssets	2428000	USD
CY2016Q1	us-gaap	Payments For Proceeds From Productive Assets PaymentsForProceedsFromProductiveAssets	3496000	USD
CY2015Q1	us-gaap	Payments Of Dividends Common Stock PaymentsOfDividendsCommonStock	31714000	USD
CY2016Q1	us-gaap	Payments Of Dividends Common Stock PaymentsOfDividendsCommonStock	33996000	USD
CY2015Q1	us-gaap	Payments To Acquire Available For Sale Securities PaymentsToAcquireAvailableForSaleSecurities	30725000	USD
CY2016Q1	us-gaap	Payments To Acquire Available For Sale Securities PaymentsToAcquireAvailableForSaleSecurities	67557000	USD
CY2015Q1	us-gaap	Payments To Acquire Limited Partnership Interests PaymentsToAcquireLimitedPartnershipInterests	89000	USD
CY2016Q1	us-gaap	Payments To Acquire Limited Partnership Interests PaymentsToAcquireLimitedPartnershipInterests	103000	USD
CY2015Q1	us-gaap	Payments To Employees PaymentsToEmployees	42486000	USD
CY2016Q1	us-gaap	Payments To Employees PaymentsToEmployees	45732000	USD
CY2015Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	24697000	USD
CY2016Q1	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	37164000	USD
CY2015Q1	us-gaap	Proceeds From Fees Received ProceedsFromFeesReceived	7597000	USD
CY2016Q1	us-gaap	Proceeds From Fees Received ProceedsFromFeesReceived	7270000	USD
CY2015Q1	us-gaap	Proceeds From Interest And Dividends Received ProceedsFromInterestAndDividendsReceived	6374000	USD
CY2016Q1	us-gaap	Proceeds From Interest And Dividends Received ProceedsFromInterestAndDividendsReceived	6182000	USD
CY2015Q1	us-gaap	Proceeds From Limited Partnership Investments ProceedsFromLimitedPartnershipInvestments	9157000	USD
CY2016Q1	us-gaap	Proceeds From Limited Partnership Investments ProceedsFromLimitedPartnershipInvestments	1792000	USD
CY2015Q1	us-gaap	Proceeds From Sale And Maturity Of Available For Sale Securities ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities	37554000	USD
CY2016Q1	us-gaap	Proceeds From Sale And Maturity Of Available For Sale Securities ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities	46507000	USD
CY2015Q1	us-gaap	Realized Investment Gains Losses RealizedInvestmentGainsLosses	-240000	USD
CY2016Q1	us-gaap	Realized Investment Gains Losses RealizedInvestmentGainsLosses	-1088000	USD
CY2015Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	1993976000	USD
CY2016Q1	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	2005875000	USD
CY2015Q1	us-gaap	Revenues Revenues	350831000	USD
CY2016Q1	us-gaap	Revenues Revenues	374728000	USD
CY2015Q4	us-gaap	Stockholders Equity StockholdersEquity	769503000	USD
CY2016Q1	us-gaap	Stockholders Equity StockholdersEquity	784867000	USD
CY2015Q4	us-gaap	Stockholders Equity Before Treasury Stock StockholdersEquityBeforeTreasuryStock	1915593000	USD
CY2016Q1	us-gaap	Stockholders Equity Before Treasury Stock StockholdersEquityBeforeTreasuryStock	1930957000	USD
CY2016Q1	us-gaap	Trading Securities Equity TradingSecuritiesEquity	2955000	USD
CY2015Q4	us-gaap	Treasury Stock Shares TreasuryStockShares	22110132	shares
CY2016Q1	us-gaap	Treasury Stock Shares TreasuryStockShares	22110132	shares
CY2015Q4	us-gaap	Treasury Stock Value TreasuryStockValue	1155108000	USD
CY2016Q1	us-gaap	Treasury Stock Value TreasuryStockValue	1155108000	USD
CY2016Q1	us-gaap	Nature Of Operations NatureOfOperations	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Note 1.  Nature of Operations</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Erie Indemnity Company ("Indemnity", "we", "us", "our") is a publicly held Pennsylvania business corporation that has since its incorporation in 1925 served as the attorney-in-fact for the subscribers (policyholders) at the Erie Insurance Exchange ("Exchange").  The Exchange, which also commenced business in 1925, is a Pennsylvania-domiciled reciprocal insurer that writes property and casualty insurance. We function solely as the management company and all insurance operations are performed by the Exchange.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our primary function, as attorney-in-fact, is to perform certain services for the Exchange relating to the sales, underwriting, and issuance of policies on behalf of the Exchange.  This is done in accordance with a subscriber’s agreement (a limited power of attorney) executed individually by each subscriber (policyholder), which appoints us as their common attorney-in-fact to transact certain business on their behalf and to manage the affairs of the Exchange.  Pursuant to the subscriber’s agreement and for its services as attorney-in-fact, we earn a management fee calculated as a percentage of the direct and assumed premiums written by the Exchange.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our results of operations are tied to the growth and financial condition of the Exchange. If any events occurred that impaired the Exchange’s ability to grow or sustain its financial condition, including but not limited to reduced financial strength ratings, disruption in the independent agency relationships, significant catastrophe losses, or products not meeting customer demands, the Exchange could find it more difficult to retain its existing business and attract new business. A decline in the business of the Exchange almost certainly would have as a consequence a decline in the total premiums paid and a correspondingly adverse effect on the amount of the management fees we receive. We also have an exposure to a concentration of credit risk related to the unsecured receivables due from the Exchange for its management fee. See Note 11, "Concentrations of Credit Risk" contained within this report.</font></div></div>
CY2016Q1	us-gaap	Prior Period Reclassification Adjustment Description PriorPeriodReclassificationAdjustmentDescription	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain prior period amounts have been reclassified on the statements of financial position to conform to the current period presentation. These reclassifications had no effect on the previously reported results of operations.</font></div></div>
CY2016Q1	us-gaap	Use Of Estimates UseOfEstimates	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ from those estimates.</font></div></div>

Files In Submission

Name	View Source	Status
0000922621-16-000077-index-headers.html	Edgar Link	pending
0000922621-16-000077-index.html	Edgar Link	pending
0000922621-16-000077.txt	Edgar Link	pending
0000922621-16-000077-xbrl.zip	Edgar Link	pending
erie-20160331.xml	Edgar Link	completed
erie-20160331.xsd	Edgar Link	pending
erie-20160331_cal.xml	Edgar Link	unprocessable
erie-20160331_def.xml	Edgar Link	unprocessable
erie-20160331_lab.xml	Edgar Link	unprocessable
erie-20160331_pre.xml	Edgar Link	unprocessable
erie10-q03312016.htm	Edgar Link	pending
ex-10203312016.htm	Edgar Link	pending
ex-31103312016.htm	Edgar Link	pending
ex-31203312016.htm	Edgar Link	pending
ex-3203312016.htm	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable
Financial_Report.xlsx	Edgar Link	pending
R1.htm	Edgar Link	pending
R10.htm	Edgar Link	pending
R11.htm	Edgar Link	pending
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report.css	Edgar Link	pending
Show.js	Edgar Link	pending

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$ERIE
ERIE INDEMNITY CO Stock $erie

2016 Q1 Form 10-Q Financial Statement

#000092262116000077 Filed on April 28, 2016

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$ERIE ERIE INDEMNITY CO Stock $erie

2016 Q1 Form 10-Q Financial Statement

#000092262116000077 Filed on April 28, 2016

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$ERIE
ERIE INDEMNITY CO Stock $erie