2016 Form 10-K Financial Statement

#000092262117000008 Filed on February 23, 2017

View on sec.gov

Income Statement

Concept 2016 2015 Q4 2015 Q3
Revenue $1.597B $356.4M $396.6M
YoY Change 6.05% 5.67% 7.3%
Cost Of Revenue $939.0M
YoY Change 0.43%
Gross Profit -$542.4M
YoY Change -4.07%
Gross Profit Margin -136.74%
Selling, General & Admin $213.4M $56.00M $58.30M
YoY Change -5.87% -107.18% -82.9%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $15.10M
YoY Change -5.03%
% of Gross Profit
Operating Expenses $1.303B $314.5M $328.3M
YoY Change 2.37% 4.21% 6.42%
Operating Profit $293.5M $68.29M
YoY Change 26.22% -107.81%
Interest Expense $101.0K $5.200M $7.700M
YoY Change -99.71% -101.25% -94.83%
% of Operating Profit 0.03% 11.28%
Other Income/Expense, Net -$1.164M
YoY Change
Pretax Income $320.1M $46.08M $75.51M
YoY Change 20.22% 22.06% 9.92%
Income Tax $109.7M $16.00M $25.95M
% Of Pretax Income 34.28% 34.72% 34.36%
Net Earnings $210.4M $30.13M $49.56M
YoY Change 20.43% 19.12% 5.68%
Net Earnings / Revenue 13.18% 8.46% 12.5%
Basic Earnings Per Share
Diluted Earnings Per Share $3.597M $386.4K $943.0K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2016 2015 Q4 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $245.0M $245.0M $618.0M
YoY Change 0.0% 58.06% 63.06%
Cash & Equivalents $189.0M $182.9M $122.1M
Short-Term Investments $56.00M $62.00M
Other Short-Term Assets $30.00M $25.00M
YoY Change 20.0% -3.85%
Inventory
Prepaid Expenses
Receivables $385.0M $354.0M
Other Receivables $5.000M $11.00M
Total Short-Term Assets $666.0M $635.1M $618.0M
YoY Change 4.88% 19.11% 63.06%
LONG-TERM ASSETS
Property, Plant & Equipment $69.00M $59.00M
YoY Change 16.95% -6.35%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $715.0M $88.54M $927.0M
YoY Change 14.22% -21.38% -13.61%
Other Assets $74.00M $20.97M $1.430B
YoY Change 19.35% -2.59% 14.4%
Total Long-Term Assets $883.0M $772.2M $17.50B
YoY Change 14.38% -1.76% 1.73%
TOTAL ASSETS
Total Short-Term Assets $666.0M $635.1M $618.0M
Total Long-Term Assets $883.0M $772.2M $17.50B
Total Assets $1.549B $1.407B $18.12B
YoY Change 10.09% 6.68% 3.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $88.00M $46.53M
YoY Change 87.23% 29.8%
Accrued Expenses $115.0M $149.0M
YoY Change -22.82% 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 $470.0M $445.7M $8.880B
YoY Change 5.38% 11.38% 2.9%
LONG-TERM LIABILITIES
Long-Term Debt $25.00M $0.00 $0.00
YoY Change
Other Long-Term Liabilities $238.0M $1.580M $827.0M
YoY Change 23.96% 41.96% 27.82%
Total Long-Term Liabilities $263.0M $1.580M $827.0M
YoY Change 36.98% 41.96% 27.82%
TOTAL LIABILITIES
Total Short-Term Liabilities $470.0M $445.7M $8.880B
Total Long-Term Liabilities $263.0M $1.580M $827.0M
Total Liabilities $732.0M $637.8M $9.990B
YoY Change 14.73% 3.53% 2.55%
SHAREHOLDERS EQUITY
Retained Earnings $1.994B
YoY Change 2.34%
Common Stock $16.31M
YoY Change -0.04%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.155B
YoY Change 0.79%
Treasury Stock Shares 22.11M shares
Shareholders Equity $817.0M $769.5M $750.0M
YoY Change
Total Liabilities & Shareholders Equity $1.549B $1.407B $18.12B
YoY Change 10.09% 6.68% 3.05%

Cashflow Statement

Concept 2016 2015 Q4 2015 Q3
OPERATING ACTIVITIES
Net Income $210.4M $30.13M $49.56M
YoY Change 20.43% 19.12% 5.68%
Depreciation, Depletion And Amortization $15.10M
YoY Change -5.03%
Cash From Operating Activities $254.3M $86.40M $89.10M
YoY Change 17.0% -123.8% -70.69%
INVESTING ACTIVITIES
Capital Expenditures -$25.20M -$5.400M -$1.900M
YoY Change 100.0% -156.84% -84.17%
Acquisitions
YoY Change
Other Investing Activities -$111.7M $11.50M -$10.00M
YoY Change -946.21% -97.78% -94.71%
Cash From Investing Activities -$136.9M $6.100M -$11.90M
YoY Change -22116.72% -98.84% -94.08%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$111.2M -31.80M -31.70M
YoY Change -12.34% -35.37% 32.08%
NET CHANGE
Cash From Operating Activities $254.3M 86.40M 89.10M
Cash From Investing Activities -$136.9M 6.100M -11.90M
Cash From Financing Activities -$111.2M -31.80M -31.70M
Net Change In Cash $6.183M 60.70M 45.50M
YoY Change -93.22% -47.54% -42.41%
FREE CASH FLOW
Cash From Operating Activities $254.3M $86.40M $89.10M
Capital Expenditures -$25.20M -$5.400M -$1.900M
Free Cash Flow $279.5M $91.80M $91.00M
YoY Change 21.55% -124.64% -71.2%

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AvailableforsaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositions1
253
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
49049000 USD
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
91747000 USD
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
182889000 USD
CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
189072000 USD
CY2014 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
108903000 USD
CY2015 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
195515000 USD
CY2016 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
185849000 USD
CY2014 us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
ContractuallySpecifiedServicingFeesLateFeesAndAncillaryFeesEarnedInExchangeForServicingFinancialAssets
30929000 USD
CY2015 us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
ContractuallySpecifiedServicingFeesLateFeesAndAncillaryFeesEarnedInExchangeForServicingFinancialAssets
29997000 USD
CY2016 us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
ContractuallySpecifiedServicingFeesLateFeesAndAncillaryFeesEarnedInExchangeForServicingFinancialAssets
29200000 USD
CY2014 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
87064000 USD
CY2015 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
106155000 USD
CY2016 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
109727000 USD
CY2015Q4 us-gaap Deferred Compensation Liability Classified Noncurrent
DeferredCompensationLiabilityClassifiedNoncurrent
16580000 USD
CY2016Q4 us-gaap Deferred Compensation Liability Classified Noncurrent
DeferredCompensationLiabilityClassifiedNoncurrent
13233000 USD
CY2015Q4 us-gaap Deferred Compensation Liability Current
DeferredCompensationLiabilityCurrent
20877000 USD
CY2016Q4 us-gaap Deferred Compensation Liability Current
DeferredCompensationLiabilityCurrent
19675000 USD
CY2014 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-3305000 USD
CY2015 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-14584000 USD
CY2016 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-2000 USD
CY2015Q4 us-gaap Deferred Tax Assets Gross Noncurrent
DeferredTaxAssetsGrossNoncurrent
73763000 USD
CY2016Q4 us-gaap Deferred Tax Assets Gross Noncurrent
DeferredTaxAssetsGrossNoncurrent
89223000 USD
CY2015Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
40686000 USD
CY2016Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
53889000 USD
CY2015Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
546000 USD
CY2016Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
81000 USD
CY2015Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Other
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsOther
19945000 USD
CY2016Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Other
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsOther
19106000 USD
CY2015Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0 USD
CY2016Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0 USD
CY2015Q4 us-gaap Deferred Tax Liabilities Gross Noncurrent
DeferredTaxLiabilitiesGrossNoncurrent
33077000 USD
CY2016Q4 us-gaap Deferred Tax Liabilities Gross Noncurrent
DeferredTaxLiabilitiesGrossNoncurrent
35334000 USD
CY2015Q4 us-gaap Deferred Tax Liabilities Investments
DeferredTaxLiabilitiesInvestments
1360000 USD
CY2016Q4 us-gaap Deferred Tax Liabilities Investments
DeferredTaxLiabilitiesInvestments
1657000 USD
CY2015Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
1123000 USD
CY2016Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
1467000 USD
CY2015Q4 us-gaap Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
6929000 USD
CY2016Q4 us-gaap Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
8120000 USD
CY2015Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
17843000 USD
CY2016Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
18493000 USD
CY2015Q4 us-gaap Defined Benefit Pension Plan Liabilities Current
DefinedBenefitPensionPlanLiabilitiesCurrent
389000 USD
CY2016Q4 us-gaap Defined Benefit Pension Plan Liabilities Current
DefinedBenefitPensionPlanLiabilitiesCurrent
2288000 USD
CY2015Q4 us-gaap Defined Benefit Pension Plan Liabilities Noncurrent
DefinedBenefitPensionPlanLiabilitiesNoncurrent
172700000 USD
CY2016Q4 us-gaap Defined Benefit Pension Plan Liabilities Noncurrent
DefinedBenefitPensionPlanLiabilitiesNoncurrent
221827000 USD
CY2015Q4 us-gaap Defined Benefit Plan Accumulated Benefit Obligation
DefinedBenefitPlanAccumulatedBenefitObligation
583432000 USD
CY2016Q4 us-gaap Defined Benefit Plan Accumulated Benefit Obligation
DefinedBenefitPlanAccumulatedBenefitObligation
657969000 USD
CY2015Q4 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Before Tax
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTax
153470000 USD
CY2016Q4 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Before Tax
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTax
191301000 USD
CY2015Q4 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Net Gains Losses Before Tax
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetGainsLossesBeforeTax
-148865000 USD
CY2016Q4 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Net Gains Losses Before Tax
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetGainsLossesBeforeTax
-185278000 USD
CY2015Q4 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Net Prior Service Cost Credit Before Tax
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetPriorServiceCostCreditBeforeTax
4605000 USD
CY2016Q4 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Net Prior Service Cost Credit Before Tax
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetPriorServiceCostCreditBeforeTax
6023000 USD
CY2015 us-gaap Defined Benefit Plan Actual Return On Plan Assets
DefinedBenefitPlanActualReturnOnPlanAssets
-1042000 USD
CY2016 us-gaap Defined Benefit Plan Actual Return On Plan Assets
DefinedBenefitPlanActualReturnOnPlanAssets
38028000 USD
CY2015 us-gaap Defined Benefit Plan Actuarial Gain Loss
DefinedBenefitPlanActuarialGainLoss
60774000 USD
CY2016 us-gaap Defined Benefit Plan Actuarial Gain Loss
DefinedBenefitPlanActuarialGainLoss
-43032000 USD
CY2014 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-6344000 USD
CY2015 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-14031000 USD
CY2016 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-8111000 USD
CY2014 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
712000 USD
CY2015 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
670000 USD
CY2016 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
696000 USD
CY2015Q4 us-gaap Defined Benefit Plan Amounts Recognized In Balance Sheet
DefinedBenefitPlanAmountsRecognizedInBalanceSheet
-173089000 USD
CY2016Q4 us-gaap Defined Benefit Plan Amounts Recognized In Balance Sheet
DefinedBenefitPlanAmountsRecognizedInBalanceSheet
-224115000 USD
CY2014Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
736705000 USD
CY2015Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
724580000 USD
CY2016Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
816659000 USD
CY2016 us-gaap Defined Benefit Plan Benefit Obligation Period Increase Decrease
DefinedBenefitPlanBenefitObligationPeriodIncreaseDecrease
92100000 USD
CY2015 us-gaap Defined Benefit Plan Benefits Paid
DefinedBenefitPlanBenefitsPaid
12539000 USD
CY2016 us-gaap Defined Benefit Plan Benefits Paid
DefinedBenefitPlanBenefitsPaid
14393000 USD
CY2015 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
17284000 USD
CY2016 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
17418000 USD
CY2016Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Five Fiscal Years Thereafter
DefinedBenefitPlanExpectedFutureBenefitPaymentsFiveFiscalYearsThereafter
181837000 USD
CY2016Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Next Twelve Months
DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths
18943000 USD
CY2016Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Five
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFive
26246000 USD
CY2016Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Four
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFour
23369000 USD
CY2016Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Three
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearThree
20778000 USD
CY2016Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Two
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearTwo
18672000 USD
CY2014 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
31419000 USD
CY2015 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
35921000 USD
CY2016 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
39520000 USD
CY2014Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
547788000 USD
CY2015Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
551491000 USD
CY2016Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
592544000 USD
CY2015Q4 us-gaap Defined Benefit Plan Funded Status Of Plan
DefinedBenefitPlanFundedStatusOfPlan
-173089000 USD
CY2016Q4 us-gaap Defined Benefit Plan Funded Status Of Plan
DefinedBenefitPlanFundedStatusOfPlan
-224115000 USD
CY2016 us-gaap Defined Benefit Plan Future Amortization Of Gain Loss
DefinedBenefitPlanFutureAmortizationOfGainLoss
-9300000 USD
CY2016 us-gaap Defined Benefit Plan Future Amortization Of Prior Service Cost Credit
DefinedBenefitPlanFutureAmortizationOfPriorServiceCostCredit
800000 USD
CY2014 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
28112000 USD
CY2015 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
30755000 USD
CY2016 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
33125000 USD
CY2014 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
26259000 USD
CY2015 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
39968000 USD
CY2016 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
30613000 USD
CY2015Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Accumulated Benefit Obligation
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateAccumulatedBenefitObligation
583432000 USD
CY2016Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Accumulated Benefit Obligation
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateAccumulatedBenefitObligation
657969000 USD
CY2015Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Fair Value Of Plan Assets
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateFairValueOfPlanAssets
551491000 USD
CY2016Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Fair Value Of Plan Assets
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateFairValueOfPlanAssets
592544000 USD
CY2015Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Projected Benefit Obligation
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateProjectedBenefitObligation
724580000 USD
CY2016Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Projected Benefit Obligation
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateProjectedBenefitObligation
816659000 USD
CY2015 us-gaap Defined Benefit Plan Plan Amendments
DefinedBenefitPlanPlanAmendments
0 USD
CY2016 us-gaap Defined Benefit Plan Plan Amendments
DefinedBenefitPlanPlanAmendments
2114000 USD
CY2014 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
22510000 USD
CY2015 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
30433000 USD
CY2016 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
28201000 USD
CY2014 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
10700000 USD
CY2015 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
11600000 USD
CY2016 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
12100000 USD
CY2014 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
15700000 USD
CY2015 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
15900000 USD
CY2016 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
15100000 USD
CY2015Q4 us-gaap Dividends Payable Current
DividendsPayableCurrent
33996000 USD
CY2016Q4 us-gaap Dividends Payable Current
DividendsPayableCurrent
36441000 USD
CY2014 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
15327000 USD
CY2015 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
14112000 USD
CY2016 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
17837000 USD
CY2015Q4 us-gaap Equity Method Investments
EquityMethodInvestments
88535000 USD
CY2016Q4 us-gaap Equity Method Investments
EquityMethodInvestments
58159000 USD
CY2014 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
251264000 USD
CY2015Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
58969000 USD
CY2015Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
85688000 USD
CY2015Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
75509000 USD
CY2015Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
46083000 USD
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
266249000 USD
CY2016Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
70224000 USD
CY2016Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
93163000 USD
CY2016Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
86581000 USD
CY2016Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
70123000 USD
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
320091000 USD
CY2014 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
10929000 USD
CY2015 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
16983000 USD
CY2016 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
7025000 USD
CY2014 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
83759000 USD
CY2015 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
91571000 USD
CY2016 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
109725000 USD
CY2014 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
87943000 USD
CY2015 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
93187000 USD
CY2016 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
112032000 USD
CY2014 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-1595000 USD
CY2015 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
669000 USD
CY2016 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-37000 USD
CY2014 us-gaap Income Tax Reconciliation Tax Exempt Income
IncomeTaxReconciliationTaxExemptIncome
2589000 USD
CY2015 us-gaap Income Tax Reconciliation Tax Exempt Income
IncomeTaxReconciliationTaxExemptIncome
2285000 USD
CY2016 us-gaap Income Tax Reconciliation Tax Exempt Income
IncomeTaxReconciliationTaxExemptIncome
2270000 USD
CY2014 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
95485000 USD
CY2015 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
106347000 USD
CY2016 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
104607000 USD
CY2015Q4 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
11947000 USD
CY2016Q4 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
5260000 USD
CY2014 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1753000 USD
CY2015 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
3633000 USD
CY2016 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
11144000 USD
CY2014 us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
34778000 USD
CY2015 us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
12835000 USD
CY2016 us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
30485000 USD
CY2014 us-gaap Increase Decrease In Accrued Investment Income Receivable
IncreaseDecreaseInAccruedInvestmentIncomeReceivable
915000 USD
CY2015 us-gaap Increase Decrease In Accrued Investment Income Receivable
IncreaseDecreaseInAccruedInvestmentIncomeReceivable
-47000 USD
CY2016 us-gaap Increase Decrease In Accrued Investment Income Receivable
IncreaseDecreaseInAccruedInvestmentIncomeReceivable
846000 USD
CY2014 us-gaap Increase Decrease In Deferred Compensation
IncreaseDecreaseInDeferredCompensation
6149000 USD
CY2015 us-gaap Increase Decrease In Deferred Compensation
IncreaseDecreaseInDeferredCompensation
-1526000 USD
CY2016 us-gaap Increase Decrease In Deferred Compensation
IncreaseDecreaseInDeferredCompensation
-4561000 USD
CY2014 us-gaap Increase Decrease In Due From Related Parties Current
IncreaseDecreaseInDueFromRelatedPartiesCurrent
7472000 USD
CY2015 us-gaap Increase Decrease In Due From Related Parties Current
IncreaseDecreaseInDueFromRelatedPartiesCurrent
-7775000 USD
CY2016 us-gaap Increase Decrease In Due From Related Parties Current
IncreaseDecreaseInDueFromRelatedPartiesCurrent
-247000 USD
CY2014 us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
8421000 USD
CY2015 us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
499000 USD
CY2016 us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
-6687000 USD
CY2014 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1747000 USD
CY2015 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1193000 USD
CY2016 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
4674000 USD
CY2014 us-gaap Increase Decrease In Prepaid Pension Costs
IncreaseDecreaseInPrepaidPensionCosts
-557000 USD
CY2015 us-gaap Increase Decrease In Prepaid Pension Costs
IncreaseDecreaseInPrepaidPensionCosts
-20307000 USD
CY2016 us-gaap Increase Decrease In Prepaid Pension Costs
IncreaseDecreaseInPrepaidPensionCosts
-10524000 USD
CY2015 us-gaap Increase Decrease In Reserve For Commissions Expense And Taxes
IncreaseDecreaseInReserveForCommissionsExpenseAndTaxes
-5624000 USD
CY2016 us-gaap Increase Decrease In Reserve For Commissions Expense And Taxes
IncreaseDecreaseInReserveForCommissionsExpenseAndTaxes
-15017000 USD
CY2014 us-gaap Insurance Agency Management Fee
InsuranceAgencyManagementFee
1376190000 USD
CY2015 us-gaap Insurance Agency Management Fee
InsuranceAgencyManagementFee
1475511000 USD
CY2014 us-gaap Increase Decrease In Reserve For Commissions Expense And Taxes
IncreaseDecreaseInReserveForCommissionsExpenseAndTaxes
-20596000 USD
CY2016 us-gaap Insurance Agency Management Fee
InsuranceAgencyManagementFee
1567431000 USD
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
61309000 USD
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
57376000 USD
CY2016Q4 us-gaap Net Income Loss
NetIncomeLoss
45786000 USD
CY2016 us-gaap Net Income Loss
NetIncomeLoss
210366000 USD
CY2014 us-gaap Insurance Commissions
InsuranceCommissions
783017000 USD
CY2015 us-gaap Insurance Commissions
InsuranceCommissions
847880000 USD
CY2016 us-gaap Insurance Commissions
InsuranceCommissions
893800000 USD
CY2014 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
16930000 USD
CY2015 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
18676000 USD
CY2016 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
21737000 USD
CY2016 us-gaap Interest Expense
InterestExpense
101000 USD
CY2014 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
394000 USD
CY2015 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
885000 USD
CY2016 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
1190000 USD
CY2014 us-gaap Investment Income Nonoperating
InvestmentIncomeNonoperating
28417000 USD
CY2015 us-gaap Investment Income Nonoperating
InvestmentIncomeNonoperating
33708000 USD
CY2016 us-gaap Investment Income Nonoperating
InvestmentIncomeNonoperating
27828000 USD
CY2014 us-gaap Labor And Related Expense
LaborAndRelatedExpense
206690000 USD
CY2015 us-gaap Labor And Related Expense
LaborAndRelatedExpense
226713000 USD
CY2016 us-gaap Labor And Related Expense
LaborAndRelatedExpense
213356000 USD
CY2014 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
15700000 USD
CY2015 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
12200000 USD
CY2016 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
14300000 USD
CY2015Q4 us-gaap Liabilities
Liabilities
637793000 USD
CY2016Q4 us-gaap Liabilities
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CY2015Q4 us-gaap Liabilities And Stockholders Equity
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CY2016Q4 us-gaap Liabilities And Stockholders Equity
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CY2016Q4 us-gaap Liabilities Current
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CY2015 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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622000 USD
CY2016 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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CY2016 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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CY2014 us-gaap Net Income Loss
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CY2015 us-gaap Net Income Loss
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CY2015 us-gaap Net Investment Income
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CY2016 us-gaap Net Investment Income
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25000000 USD
CY2016Q4 us-gaap Notes Receivable Related Parties Noncurrent
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25000000 USD
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20096000 USD
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16900000 USD
CY2016 us-gaap Other Commitments Description
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Contractual commitments to invest in limited partnership investments, consisting of private equity securities, mezzanine debt securities, and real estate activities.
CY2014 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
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823000 USD
CY2015 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
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CY2016 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
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CY2015 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
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CY2016 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
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24560000 USD
CY2015 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
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670000 USD
CY2016 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
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696000 USD
CY2014 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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-58602000 USD
CY2015 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2016 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2015 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
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CY2016 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
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37831000 USD
CY2015 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Net Unamortized Gain Loss Arising During Period Before Tax
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23810000 USD
CY2016 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Net Unamortized Gain Loss Arising During Period Before Tax
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-14031000 USD
CY2016 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
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CY2015 us-gaap Other Cost And Expense Operating
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197111000 USD
CY2015Q4 us-gaap Other Liabilities Noncurrent
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1580000 USD
CY2016Q4 us-gaap Other Liabilities Noncurrent
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1863000 USD
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1234000 USD
CY2016Q4 us-gaap Other Postretirement Defined Benefit Plan Liabilities Noncurrent
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756000 USD
CY2014 us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
105000 USD
CY2015 us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
1558000 USD
CY2016 us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
416000 USD
CY2014 us-gaap Other Than Temporary Impairment Losses Investments Portion In Other Comprehensive Income Loss Before Tax Including Portion Attributable To Noncontrolling Interest Availableforsale Securities
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0 USD
CY2015 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
CY2016 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
CY2014 us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNetAvailableforsaleSecurities
105000 USD
CY2015 us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNetAvailableforsaleSecurities
1558000 USD
CY2016 us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNetAvailableforsaleSecurities
416000 USD
CY2014 us-gaap Payments For Commissions
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CY2015 us-gaap Payments For Commissions
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CY2016 us-gaap Payments For Commissions
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CY2014 us-gaap Payments For Other Operating Activities
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178452000 USD
CY2015 us-gaap Payments For Other Operating Activities
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176029000 USD
CY2014 us-gaap Payments For Proceeds From Loans Receivable
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CY2014 us-gaap Payments For Proceeds From Productive Assets
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19692000 USD
CY2015 us-gaap Payments For Repurchase Of Common Stock
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0 USD
CY2016 us-gaap Payments For Repurchase Of Common Stock
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CY2014 us-gaap Payments Of Dividends Common Stock
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118526000 USD
CY2015 us-gaap Payments Of Dividends Common Stock
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126858000 USD
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135985000 USD
CY2014 us-gaap Payments To Acquire Available For Sale Securities
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250789000 USD
CY2015 us-gaap Payments To Acquire Available For Sale Securities
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CY2016 us-gaap Payments To Acquire Available For Sale Securities
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369811000 USD
CY2014 us-gaap Payments To Acquire Limited Partnership Interests
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1123000 USD
CY2015 us-gaap Payments To Acquire Limited Partnership Interests
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928000 USD
CY2016 us-gaap Payments To Acquire Limited Partnership Interests
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578000 USD
CY2014 us-gaap Payments To Employees
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CY2015 us-gaap Payments To Employees
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CY2016 us-gaap Payments To Employees
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160985000 USD
CY2015Q4 us-gaap Prepaid Expense And Other Assets Current
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24697000 USD
CY2016Q4 us-gaap Prepaid Expense And Other Assets Current
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CY2015 us-gaap Proceeds From Fees Received
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CY2016 us-gaap Proceeds From Fees Received
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CY2014 us-gaap Proceeds From Interest And Dividends Received
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CY2014 us-gaap Proceeds From Limited Partnership Investments
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CY2016 us-gaap Proceeds From Limited Partnership Investments
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CY2014 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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CY2015 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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CY2016 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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CY2016 us-gaap Proceeds From Repayments Of Secured Debt
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CY2014 us-gaap Proceeds From Sale Of Available For Sale Securities
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CY2015 us-gaap Proceeds From Sale Of Available For Sale Securities
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102286000 USD
CY2016 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
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CY2014 us-gaap Proceeds From Sale Of Trading Securities Heldforinvestment
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CY2015 us-gaap Proceeds From Sale Of Trading Securities Heldforinvestment
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0 USD
CY2016 us-gaap Proceeds From Sale Of Trading Securities Heldforinvestment
ProceedsFromSaleOfTradingSecuritiesHeldforinvestment
5171000 USD
CY2014 us-gaap Realized Gain Loss On Marketable Securities And Cost Method Investments Excluding Other Than Temporary Impairments And Other Investments
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1057000 USD
CY2015 us-gaap Realized Gain Loss On Marketable Securities And Cost Method Investments Excluding Other Than Temporary Impairments And Other Investments
RealizedGainLossOnMarketableSecuritiesAndCostMethodInvestmentsExcludingOtherThanTemporaryImpairmentsAndOtherInvestments
492000 USD
CY2016 us-gaap Realized Gain Loss On Marketable Securities And Cost Method Investments Excluding Other Than Temporary Impairments And Other Investments
RealizedGainLossOnMarketableSecuritiesAndCostMethodInvestmentsExcludingOtherThanTemporaryImpairmentsAndOtherInvestments
672000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
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1993976000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
2065911000 USD
CY2014 us-gaap Revenues
Revenues
1407119000 USD
CY2015Q1 us-gaap Revenues
Revenues
350831000 USD
CY2015Q2 us-gaap Revenues
Revenues
401660000 USD
CY2015Q3 us-gaap Revenues
Revenues
396637000 USD
CY2015Q4 us-gaap Revenues
Revenues
356380000 USD
CY2015 us-gaap Revenues
Revenues
1505508000 USD
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Revenues
374728000 USD
CY2016Q2 us-gaap Revenues
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423884000 USD
CY2016Q3 us-gaap Revenues
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418406000 USD
CY2016Q4 us-gaap Revenues
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379613000 USD
CY2016 us-gaap Revenues
Revenues
1596631000 USD
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StockholdersEquity
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769503000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
816910000 USD
CY2015Q4 us-gaap Stockholders Equity Before Treasury Stock
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1915593000 USD
CY2016Q4 us-gaap Stockholders Equity Before Treasury Stock
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1963000000 USD
CY2015Q4 us-gaap Treasury Stock Common Shares
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CY2016Q4 us-gaap Treasury Stock Common Value
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CY2016 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.&#160; Nature of Operations</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</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").&#160; 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;">&#160;</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.&#160; This is done in accordance with a subscriber&#8217;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.&#160; Pursuant to the subscriber&#8217;s agreement and for its services as attorney-in-fact,&#160;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;">The services we provide to the Exchange are related to the sales, underwriting and issuance of policies. The sales related services we provide include agent compensation and certain sales and advertising support services. Agent compensation includes scheduled commissions to agents based upon premiums written as well as additional commissions and bonuses to agents, which are earned by achieving targeted measures. Agent compensation comprised approximately </font><font style="font-family:inherit;font-size:10pt;">69%</font><font style="font-family:inherit;font-size:10pt;"> of our </font><font style="font-family:inherit;font-size:10pt;">2016</font><font style="font-family:inherit;font-size:10pt;"> expenses. The underwriting services we provide include underwriting and policy processing and comprised approximately </font><font style="font-family:inherit;font-size:10pt;">10%</font><font style="font-family:inherit;font-size:10pt;"> of our </font><font style="font-family:inherit;font-size:10pt;">2016</font><font style="font-family:inherit;font-size:10pt;"> expenses. The remaining services we provide include customer service and administrative support. </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We also provide information technology services that support all the functions listed above that comprised approximately </font><font style="font-family:inherit;font-size:10pt;">9%</font><font style="font-family:inherit;font-size:10pt;"> of our </font><font style="font-family:inherit;font-size:10pt;">2016</font><font style="font-family:inherit;font-size:10pt;"> expenses. </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;">By virtue of its legal structure as a reciprocal insurer, the Exchange does not have the ability to enter into contractual relationships and therefore Indemnity serves as the attorney-in-fact on behalf of the Exchange for all claims handling services, investment management services, and certain other common overhead and service department functions in accordance with the subscriber&#8217;s agreement. The amounts Indemnity incurs on behalf of the Exchange in this capacity are reimbursed to Indemnity from the Exchange at cost. See Note 13, "Related Party" contained within this report. </font></div><div style="line-height:120%;text-align:left;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&#8217;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 14, "Concentrations of Credit Risk" contained within this report.</font></div></div>
CY2016 us-gaap Revenue Recognition Services Management Fees
RevenueRecognitionServicesManagementFees
<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;text-decoration:underline;">Recognition of management fee revenue</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We earn management fees from the Exchange for providing certain sales, underwriting, and policy issuance services.&#160; Pursuant to the subscriber&#8217;s agreements with the policyholders at the Exchange, we may retain up to </font><font style="font-family:inherit;font-size:10pt;">25%</font><font style="font-family:inherit;font-size:10pt;"> of all direct and assumed premiums written by the Exchange.&#160; Management fee revenue is calculated by multiplying the management fee rate by the direct and assumed premiums written by the Exchange. The Exchange issues policies with annual terms only.&#160; Management fees are recorded as revenue upon policy issuance or renewal, as substantially all of the services required to be performed by us have been satisfied at that time.&#160; Certain activities are performed and related costs are incurred by us subsequent to policy issuance in connection with the services provided to the Exchange; however, these activities are inconsequential and perfunctory.</font></div></div>
CY2016 us-gaap Revenue Recognition Services Refundable Fees For Services
RevenueRecognitionServicesRefundableFeesForServices
<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;text-decoration:underline;">Recognition of service agreement revenue</font></div><div style="line-height:120%;padding-bottom:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Service agreement revenue consists of service charges we collect from policyholders for providing multiple payment plans on policies written by the Exchange.&#160; Service charges, which are flat dollar charges for each installment billed beyond the first installment, are recognized as revenue when bills are rendered to the policyholder.</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#160;</font><font style="font-family:inherit;font-size:10pt;"> Service agreement revenue also includes late payment and policy reinstatement fees.</font></div></div>
CY2016 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;text-decoration:underline;">Use of estimates</font><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><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
0000922621-17-000008-index-headers.html Edgar Link pending
0000922621-17-000008-index.html Edgar Link pending
0000922621-17-000008.txt Edgar Link pending
0000922621-17-000008-xbrl.zip Edgar Link pending
erie-20161231.xml Edgar Link completed
erie-20161231.xsd Edgar Link pending
erie-20161231_cal.xml Edgar Link unprocessable
erie-20161231_def.xml Edgar Link unprocessable
erie-20161231_lab.xml Edgar Link unprocessable
erie-20161231_pre.xml Edgar Link unprocessable
erie10-k12312016.htm Edgar Link pending
erie10-k12_chartx32104a01.jpg Edgar Link pending
ex-1017712312016.htm Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
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report.css Edgar Link pending
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