$ERIE
ERIE INDEMNITY CO Stock $erie

$erie Overview Financials Valuation SEC Filings Company Website

2018 Q3 Form 10-Q Financial Statement

#000092262118000046 Filed on October 25, 2018

Income Statement

Concept	2018 Q3	2017 Q4	2017 Q3
Revenue	$7.930M	$401.4M	$442.5M
YoY Change	-98.21%	5.74%	5.76%
Cost Of Revenue	$515.4M	$342.8M	$361.3M
YoY Change	42.65%
Gross Profit	$96.70M	$58.60M	$81.20M
YoY Change	19.09%
Gross Profit Margin	1219.42%	14.6%	18.35%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses	$515.4M	$342.8M	$361.3M
YoY Change	42.68%	6.15%	7.47%
Operating Profit	$96.70M	-$284.2M	$81.24M
YoY Change	19.03%		-1.24%
Interest Expense	$709.0K	$438.0K	$377.0K
YoY Change	88.06%	333.66%	-91.23%
% of Operating Profit	0.73%		0.46%
Other Income/Expense, Net	$54.00K	-$700.0K	-$415.0K
YoY Change	-113.01%
Pretax Income	$104.5M	$64.64M	$88.87M
YoY Change	17.56%	-7.82%	2.64%
Income Tax	$24.03M	$22.50M	$30.32M
% Of Pretax Income	23.0%	34.81%	34.12%
Net Earnings	$80.45M	$32.05M	$58.54M
YoY Change	37.41%	-29.99%	2.03%
Net Earnings / Revenue	1014.45%	7.99%	13.23%
Basic Earnings Per Share
Diluted Earnings Per Share	$1.377M	$549.7K	$1.002M
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept	2018 Q3	2017 Q4	2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments	$349.7M	$287.0M	$250.0M
YoY Change	39.89%	17.14%	30.21%
Cash & Equivalents	$244.7M	$215.7M	$184.6M
Short-Term Investments	$105.0M	$71.00M	$65.00M
Other Short-Term Assets	$44.00M	$35.00M	$36.00M
YoY Change	22.22%	16.67%	20.0%
Inventory
Prepaid Expenses
Receivables	$470.0M	$425.0M	$435.0M
Other Receivables	$25.00M	$55.00M	$0.00
Total Short-Term Assets	$888.9M	$801.9M	$720.7M
YoY Change	23.34%	20.49%	14.8%
LONG-TERM ASSETS
Property, Plant & Equipment	$122.0M	$83.00M	$75.00M
YoY Change	62.67%	20.29%	29.31%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$37.09M	$45.12M	$49.45M
YoY Change	-25.0%	-22.42%	-25.02%
Other Assets	$62.54M	$28.79M	$29.42M
YoY Change	112.54%	43.28%	50.3%
Total Long-Term Assets	$870.6M	$864.0M	$910.8M
YoY Change	-4.4%	-2.2%	6.24%
TOTAL ASSETS
Total Short-Term Assets	$888.9M	$801.9M	$720.7M
Total Long-Term Assets	$870.6M	$864.0M	$910.8M
Total Assets	$1.760B	$1.666B	$1.631B
YoY Change	7.85%	7.55%	9.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$113.0M	$105.0M	$99.00M
YoY Change	14.14%	19.32%	4.21%
Accrued Expenses	$79.00M	$123.0M	$93.00M
YoY Change	-15.05%	6.96%	9.41%
Deferred Revenue	$34.09M
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due	$1.395M	$0.00
YoY Change
Total Short-Term Liabilities	$544.5M	$509.9M	$483.4M
YoY Change	12.64%	8.58%	6.65%
LONG-TERM LIABILITIES
Long-Term Debt	$98.33M	$74.73M	$49.73M
YoY Change	97.72%	201.74%
Other Long-Term Liabilities	$9.828M	$1.899M	$1.509M
YoY Change	551.29%	1.93%	-14.41%
Total Long-Term Liabilities	$108.2M	$76.63M	$51.24M
YoY Change	111.07%	187.76%	2806.58%
TOTAL LIABILITIES
Total Short-Term Liabilities	$544.5M	$509.9M	$483.4M
Total Long-Term Liabilities	$108.2M	$76.63M	$51.24M
Total Liabilities	$838.5M	$808.5M	$756.3M
YoY Change	10.87%	10.45%	17.06%
SHAREHOLDERS EQUITY
Retained Earnings	$2.211B	$2.141B	$2.122B
YoY Change	4.22%	3.63%	3.16%
Common Stock	$16.46M	$16.47M	$16.47M
YoY Change	-0.07%	1.04%	1.04%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$921.0M	$857.3M	$875.2M
YoY Change
Total Liabilities & Shareholders Equity	$1.760B	$1.666B	$1.631B
YoY Change	7.85%	7.55%	9.86%

Cashflow Statement

Concept	2018 Q3	2017 Q4	2017 Q3
OPERATING ACTIVITIES
Net Income	$80.45M	$32.05M	$58.54M
YoY Change	37.41%	-29.99%	2.03%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities	$132.7M	$76.80M	$80.80M
YoY Change	64.23%	-22.19%	-23.12%
INVESTING ACTIVITIES
Capital Expenditures	-$30.60M	-$10.90M	-$8.000M
YoY Change	282.5%	-26.35%	158.06%
Acquisitions
YoY Change
Other Investing Activities	-$16.80M	-$23.30M	$3.600M
YoY Change	-566.67%	-8.63%	-106.9%
Cash From Investing Activities	-$47.30M	-$34.30M	-$4.500M
YoY Change	951.11%	-14.89%	-91.86%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-39.20M	-11.40M	-36.50M
YoY Change	7.4%	23.91%	7.35%
NET CHANGE
Cash From Operating Activities	132.7M	76.80M	80.80M
Cash From Investing Activities	-47.30M	-34.30M	-4.500M
Cash From Financing Activities	-39.20M	-11.40M	-36.50M
Net Change In Cash	46.20M	31.10M	39.80M
YoY Change	16.08%	-36.79%	151.9%
FREE CASH FLOW
Cash From Operating Activities	$132.7M	$76.80M	$80.80M
Capital Expenditures	-$30.60M	-$10.90M	-$8.000M
Free Cash Flow	$163.3M	$87.70M	$88.80M
YoY Change	83.9%	-22.73%	-17.93%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
	dei	Amendment Flag AmendmentFlag	false
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q3
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2018
	dei	Document Period End Date DocumentPeriodEndDate	2018-09-30
	dei	Document Type DocumentType	10-Q
	dei	Entity Central Index Key EntityCentralIndexKey	0000922621
	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
	dei	Entity Filer Category EntityFilerCategory	Large Accelerated Filer
	dei	Entity Registrant Name EntityRegistrantName	ERIE INDEMNITY CO
	dei	Entity Small Business EntitySmallBusiness	false
	erie	Administrative Services Expenses Paid AdministrativeServicesExpensesPaid	427852000	USD
	erie	Administrative Services Reimbursements Received AdministrativeServicesReimbursementsReceived	428071000	USD
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	us-gaap	Gain Loss On Investments Excluding Other Than Temporary Impairments GainLossOnInvestmentsExcludingOtherThanTemporaryImpairments	-497000	USD
	erie	Fair Value Assets Level1 To Level2 Transfers Amount During Period FairValueAssetsLevel1ToLevel2TransfersAmountDuringPeriod	0	USD
	us-gaap	Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognized In Earnings OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSaleRecognizedInEarnings	646000	USD
	us-gaap	Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognized In Earnings OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSaleRecognizedInEarnings	600000	USD
	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
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	erie	Insurance Agency Management Fee Percent InsuranceAgencyManagementFeePercent	0.25
	erie	Payments For Agent Bonuses PaymentsForAgentBonuses	118862000	USD
	erie	Payments For Agent Bonuses PaymentsForAgentBonuses	130657000	USD
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	erie	Pension Contributionsand Paymentsfor Other Labor Related Expenses PensionContributionsandPaymentsforOtherLaborRelatedExpenses	62837000	USD
	erie	Pension Contributionsand Paymentsfor Other Labor Related Expenses PensionContributionsandPaymentsforOtherLaborRelatedExpenses	106718000	USD
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	erie	Proceeds From Insurance Agency Management Fees Received ProceedsFromInsuranceAgencyManagementFeesReceived	1309769000	USD
	erie	Proceedsfrom Saleof Securities Equity ProceedsfromSaleofSecuritiesEquity	4159000	USD
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	us-gaap	Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	0.35
CY2018Q3	us-gaap	Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	0.21
	us-gaap	Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	0.21
	us-gaap	Equity Method Investment Dividends Or Distributions EquityMethodInvestmentDividendsOrDistributions	2993000	USD
	us-gaap	Equity Method Investment Dividends Or Distributions EquityMethodInvestmentDividendsOrDistributions	6008000	USD
CY2017Q4	us-gaap	Equity Method Investments EquityMethodInvestments	45122000	USD
CY2018Q3	us-gaap	Equity Method Investments EquityMethodInvestments	37088000	USD
CY2018Q3	us-gaap	Equity Securities Fv Ni EquitySecuritiesFvNi	12511000	USD
CY2017Q3	us-gaap	Gain Loss On Investments Excluding Other Than Temporary Impairments GainLossOnInvestmentsExcludingOtherThanTemporaryImpairments	899000	USD
	us-gaap	Gain Loss On Investments Excluding Other Than Temporary Impairments GainLossOnInvestmentsExcludingOtherThanTemporaryImpairments	1539000	USD
CY2018Q3	us-gaap	Gain Loss On Investments Excluding Other Than Temporary Impairments GainLossOnInvestmentsExcludingOtherThanTemporaryImpairments	0	USD
CY2017Q3	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	88865000	USD
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	251054000	USD
CY2018Q3	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	104471000	USD
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	288678000	USD
CY2017Q3	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	1537000	USD
	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	1899000	USD
CY2018Q3	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	772000	USD
	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	361000	USD
CY2017Q3	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	30322000	USD
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	86108000	USD
CY2018Q3	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	24025000	USD
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	62768000	USD
	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	70504000	USD
	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	29208000	USD
CY2017Q4	us-gaap	Income Taxes Receivable IncomeTaxesReceivable	29900000	USD
CY2018Q3	us-gaap	Income Taxes Receivable IncomeTaxesReceivable	0	USD
	us-gaap	Increase Decrease In Due From Related Parties Current IncreaseDecreaseInDueFromRelatedPartiesCurrent	7335000	USD
CY2017Q3	us-gaap	Interest And Dividend Income Operating InterestAndDividendIncomeOperating	6170000	USD
	us-gaap	Interest And Dividend Income Operating InterestAndDividendIncomeOperating	19259000	USD
CY2018Q3	us-gaap	Interest And Dividend Income Operating InterestAndDividendIncomeOperating	7930000	USD
	us-gaap	Interest And Dividend Income Operating InterestAndDividendIncomeOperating	22621000	USD
CY2017Q3	us-gaap	Interest Expense InterestExpense	377000	USD
	us-gaap	Interest Expense InterestExpense	800000	USD
CY2018Q3	us-gaap	Interest Expense InterestExpense	709000	USD
	us-gaap	Interest Expense InterestExpense	1864000	USD
	us-gaap	Interest Paid Net InterestPaidNet	705000	USD
	us-gaap	Interest Paid Net InterestPaidNet	1820000	USD
CY2017Q3	us-gaap	Investment Income Investment Expense InvestmentIncomeInvestmentExpense	188000	USD
	us-gaap	Investment Income Investment Expense InvestmentIncomeInvestmentExpense	1057000	USD
CY2018Q3	us-gaap	Investment Income Investment Expense InvestmentIncomeInvestmentExpense	271000	USD
	us-gaap	Investment Income Investment Expense InvestmentIncomeInvestmentExpense	1038000	USD
CY2017Q3	us-gaap	Investment Income Nonoperating InvestmentIncomeNonoperating	8418000	USD
	us-gaap	Investment Income Nonoperating InvestmentIncomeNonoperating	21458000	USD
CY2018Q3	us-gaap	Investment Income Nonoperating InvestmentIncomeNonoperating	8431000	USD
	us-gaap	Investment Income Nonoperating InvestmentIncomeNonoperating	20801000	USD
CY2017Q4	us-gaap	Liabilities Liabilities	808515000	USD
CY2018Q3	us-gaap	Liabilities Liabilities	838480000	USD
CY2017Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	1665859000	USD
CY2018Q3	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	1759503000	USD
CY2017Q4	us-gaap	Liabilities Current LiabilitiesCurrent	509906000	USD
CY2018Q3	us-gaap	Liabilities Current LiabilitiesCurrent	544508000	USD
CY2017Q4	us-gaap	Long Term Debt Current LongTermDebtCurrent	0	USD
CY2018Q3	us-gaap	Long Term Debt Current LongTermDebtCurrent	1395000	USD
CY2017Q4	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	74728000	USD
CY2018Q3	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	98332000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-84363000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-92372000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-40415000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-52975000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	120334000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	174314000	USD
CY2017Q3	us-gaap	Net Income Loss NetIncomeLoss	58543000	USD
	us-gaap	Net Income Loss NetIncomeLoss	164946000	USD
CY2018Q3	us-gaap	Net Income Loss NetIncomeLoss	80446000	USD
	us-gaap	Net Income Loss NetIncomeLoss	225910000	USD
CY2017Q3	us-gaap	Net Investment Income NetInvestmentIncome	5982000	USD
	us-gaap	Net Investment Income NetInvestmentIncome	18202000	USD
CY2018Q3	us-gaap	Net Investment Income NetInvestmentIncome	7659000	USD
	us-gaap	Net Investment Income NetInvestmentIncome	21583000	USD
CY2017Q4	us-gaap	Notes Receivable Related Parties Current NotesReceivableRelatedPartiesCurrent	25000000	USD
CY2018Q3	us-gaap	Notes Receivable Related Parties Current NotesReceivableRelatedPartiesCurrent	25000000	USD
CY2017Q3	us-gaap	Operating Expenses OperatingExpenses	361253000	USD
	us-gaap	Operating Expenses OperatingExpenses	1058745000	USD
CY2018Q3	us-gaap	Operating Expenses OperatingExpenses	515431000	USD
	us-gaap	Operating Expenses OperatingExpenses	1536159000	USD
CY2017Q3	us-gaap	Operating Income Loss OperatingIncomeLoss	81239000	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	231627000	USD
CY2018Q3	us-gaap	Operating Income Loss OperatingIncomeLoss	96695000	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	269585000	USD
CY2017Q4	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	28793000	USD
CY2018Q3	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	62539000	USD
CY2018Q3	us-gaap	Other Commitment OtherCommitment	13900000	USD
	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.
CY2017Q3	us-gaap	Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent	-167000	USD
	us-gaap	Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent	2446000	USD
CY2018Q3	us-gaap	Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent	-492000	USD
	us-gaap	Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent	-6470000	USD
CY2017Q4	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	1476000	USD
CY2018Q3	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	9828000	USD
CY2017Q3	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-415000	USD
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-1231000	USD
CY2018Q3	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	54000	USD
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	156000	USD
CY2017Q4	us-gaap	Other Postretirement Defined Benefit Plan Liabilities Noncurrent OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent	423000	USD
CY2018Q3	us-gaap	Other Postretirement Defined Benefit Plan Liabilities Noncurrent OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent	69000	USD
CY2017Q3	us-gaap	Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognized In Earnings OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSaleRecognizedInEarnings	0	USD
CY2017Q3	us-gaap	Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognized In Earnings OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSaleRecognizedInEarnings	0	USD
	us-gaap	Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognized In Earnings OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSaleRecognizedInEarnings	200000	USD
	us-gaap	Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognized In Earnings OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSaleRecognizedInEarnings	182000	USD
CY2018Q3	us-gaap	Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognized In Earnings OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSaleRecognizedInEarnings	0	USD
CY2018Q3	us-gaap	Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognized In Earnings OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSaleRecognizedInEarnings	0	USD
CY2017Q3	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
CY2018Q3	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
	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
	us-gaap	Payments For Commissions PaymentsForCommissions	597700000	USD
	us-gaap	Payments For Commissions PaymentsForCommissions	639574000	USD
	us-gaap	Payments For Other Operating Activities PaymentsForOtherOperatingActivities	167985000	USD
	us-gaap	Payments For Other Operating Activities PaymentsForOtherOperatingActivities	144759000	USD
	us-gaap	Payments For Proceeds From Loans Receivable PaymentsForProceedsFromLoansReceivable	4185000	USD
	us-gaap	Payments For Proceeds From Loans Receivable PaymentsForProceedsFromLoansReceivable	37271000	USD
	us-gaap	Payments For Proceeds From Productive Assets PaymentsForProceedsFromProductiveAssets	18036000	USD
	us-gaap	Payments For Proceeds From Productive Assets PaymentsForProceedsFromProductiveAssets	48667000	USD
	us-gaap	Payments Of Dividends Common Stock PaymentsOfDividendsCommonStock	109324000	USD
	us-gaap	Payments Of Dividends Common Stock PaymentsOfDividendsCommonStock	117355000	USD
	us-gaap	Payments To Acquire Available For Sale Securities PaymentsToAcquireAvailableForSaleSecurities	292702000	USD
	us-gaap	Payments To Acquire Available For Sale Securities Debt PaymentsToAcquireAvailableForSaleSecuritiesDebt	194773000	USD
	us-gaap	Payments To Acquire Limited Partnership Interests PaymentsToAcquireLimitedPartnershipInterests	330000	USD
	us-gaap	Payments To Acquire Limited Partnership Interests PaymentsToAcquireLimitedPartnershipInterests	217000	USD
	us-gaap	Payments To Employees PaymentsToEmployees	128071000	USD
	us-gaap	Payments To Employees PaymentsToEmployees	136868000	USD
CY2017Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	34890000	USD
CY2018Q3	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	44014000	USD
	us-gaap	Proceeds From Fees Received ProceedsFromFeesReceived	21781000	USD
	us-gaap	Proceeds From Fees Received ProceedsFromFeesReceived	21297000	USD
	us-gaap	Proceeds From Interest And Dividends Received ProceedsFromInterestAndDividendsReceived	23593000	USD
	us-gaap	Proceeds From Interest And Dividends Received ProceedsFromInterestAndDividendsReceived	26625000	USD
	us-gaap	Proceeds From Limited Partnership Investments ProceedsFromLimitedPartnershipInvestments	7986000	USD
	us-gaap	Proceeds From Limited Partnership Investments ProceedsFromLimitedPartnershipInvestments	3046000	USD
	us-gaap	Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities	146434000	USD
	us-gaap	Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities	98922000	USD
	us-gaap	Proceeds From Repayments Of Secured Debt ProceedsFromRepaymentsOfSecuredDebt	24961000	USD
	us-gaap	Proceeds From Repayments Of Secured Debt ProceedsFromRepaymentsOfSecuredDebt	24983000	USD
	us-gaap	Proceeds From Sale Of Available For Sale Securities ProceedsFromSaleOfAvailableForSaleSecurities	120418000	USD
	us-gaap	Proceeds From Sale Of Available For Sale Securities Debt ProceedsFromSaleOfAvailableForSaleSecuritiesDebt	125913000	USD
CY2017Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	2140853000	USD
CY2018Q3	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	2211013000	USD
CY2018Q1	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	2102527000	USD
CY2017Q3	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	442492000	USD
	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	1290372000	USD
CY2018Q3	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	612126000	USD
	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	1805744000	USD
CY2018Q3	us-gaap	Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1 RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1	P4Y0M0D
CY2017Q4	us-gaap	Stockholders Equity StockholdersEquity	857344000	USD
CY2018Q3	us-gaap	Stockholders Equity StockholdersEquity	921023000	USD
CY2017Q4	us-gaap	Stockholders Equity Before Treasury Stock StockholdersEquityBeforeTreasuryStock	2003434000	USD
CY2018Q3	us-gaap	Stockholders Equity Before Treasury Stock StockholdersEquityBeforeTreasuryStock	2067113000	USD
CY2017Q4	us-gaap	Treasury Stock Common Shares TreasuryStockCommonShares	22110132	shares
CY2018Q3	us-gaap	Treasury Stock Common Shares TreasuryStockCommonShares	22110132	shares
CY2017Q4	us-gaap	Treasury Stock Common Value TreasuryStockCommonValue	1155668000	USD
CY2018Q3	us-gaap	Treasury Stock Common Value TreasuryStockCommonValue	1157310000	USD
	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 policy issuance and renewal services on behalf of the subscribers at the Exchange. We also act as attorney-in-fact on behalf of the Exchange with respect to all claims handling and investment management services, as well as the service provider for all claims handling, life insurance, and investment management services for its insurance subsidiaries, collectively referred to as "administrative services". Acting as attorney-in-fact in these </font><font style="font-family:inherit;font-size:10pt;">two</font><font style="font-family:inherit;font-size:10pt;"> capacities 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.  Pursuant to the subscriber's agreement for acting as attorney-in-fact in these </font><font style="font-family:inherit;font-size:10pt;">two</font><font style="font-family:inherit;font-size:10pt;"> capacities, 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%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The policy issuance and renewal 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. The underwriting services we provide include underwriting and policy processing. The remaining services we provide include customer service and administrative support. We also provide information technology services that support all the functions listed above. Included in these expenses are allocations of costs for departments that support these policy issuance and renewal functions.</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;">By virtue of its legal structure as a reciprocal insurer, the Exchange does not have any employees or officers. Therefore, it enters into contractual relationships by and through an attorney-in-fact. Indemnity serves as the attorney-in-fact on behalf of the Exchange with respect to its administrative services. The Exchange's insurance subsidiaries also utilize Indemnity for these services in accordance with the service agreements between each of the subsidiaries and Indemnity. Claims handling services include costs incurred in the claims process, including the adjustment, investigation, defense, recording and payment functions. Life insurance management services include costs incurred in the management and processing of life insurance business. Investment management services are related to investment trading activity, accounting and all other functions attributable to the investment of funds. Included in these expenses are allocations of costs for departments that support these administrative functions. The amounts incurred for these services are reimbursed to Indemnity at cost in accordance with the subscriber's agreement and the service agreements. State insurance regulations require that intercompany service agreements and any material amendments be approved in advance by the state insurance department. </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’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 12, "Concentrations of Credit Risk".</font></div></div>
	us-gaap	Prior Period Reclassification Adjustment Description PriorPeriodReclassificationAdjustmentDescription	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Reclassifications</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain amounts previously reported in the 2017 financial statements have been reclassified for comparative purposes to conform to the current period’s presentation.  One of the reclassifications resulted from new accounting guidance and only affected the Statements of Operations.  Most notably, "Commissions", "Salaries and employee benefits", and "All other operating expenses" have been combined within "Cost of operations - policy issuance and renewal services" in the Statements of Operations (see Note 3, "Revenue").  This reclassification had no effect on previously reported net income.</font></div></div>
	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></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

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ERIE INDEMNITY CO Stock $erie

2018 Q3 Form 10-Q Financial Statement

#000092262118000046 Filed on October 25, 2018

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$ERIE ERIE INDEMNITY CO Stock $erie

2018 Q3 Form 10-Q Financial Statement

#000092262118000046 Filed on October 25, 2018

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$ERIE
ERIE INDEMNITY CO Stock $erie