$ERIE
ERIE INDEMNITY CO Stock $erie

$erie Overview Financials Valuation SEC Filings Company Website

2019 Q1 Form 10-Q Financial Statement

#000092262119000014 Filed on May 02, 2019

Income Statement

Concept	2019 Q1	2018 Q1
Revenue	$8.767M	$572.2M
YoY Change	-98.47%	43.29%
Cost Of Revenue	$508.0M	$494.6M
YoY Change	2.71%
Gross Profit	$86.10M	$77.60M
YoY Change	10.95%
Gross Profit Margin	982.09%	13.56%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses	$508.0M	$494.6M
YoY Change	2.71%	48.81%
Operating Profit	$86.12M	$77.57M
YoY Change	11.03%	15.88%
Interest Expense	$449.0K	$553.0K
YoY Change	-18.81%	233.13%
% of Operating Profit	0.52%	0.71%
Other Income/Expense, Net	$9.795M	$44.00K
YoY Change	22161.36%	-110.76%
Pretax Income	$95.52M	$83.22M
YoY Change	14.77%	14.07%
Income Tax	$20.20M	$17.46M
% Of Pretax Income	21.15%	20.98%
Net Earnings	$75.31M	$65.76M
YoY Change	14.53%	37.35%
Net Earnings / Revenue	859.03%	11.49%
Basic Earnings Per Share
Diluted Earnings Per Share	$1.289M	$1.127M
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept	2019 Q1	2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$452.0M	$216.2M
YoY Change	109.08%	15.0%
Cash & Equivalents	$312.0M	$119.6M
Short-Term Investments	$140.0M	$96.57M
Other Short-Term Assets	$50.00M	$43.00M
YoY Change	16.28%	10.26%
Inventory
Prepaid Expenses
Receivables	$460.0M	$422.0M
Other Receivables	$0.00	$39.00M
Total Short-Term Assets	$962.4M	$720.7M
YoY Change	33.53%	15.19%
LONG-TERM ASSETS
Property, Plant & Equipment	$173.0M	$88.00M
YoY Change	96.59%	27.54%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$30.04M	$44.11M
YoY Change	-31.91%	-18.99%
Other Assets	$92.86M	$45.30M
YoY Change	104.99%	113.44%
Total Long-Term Assets	$837.1M	$852.7M
YoY Change	-1.84%	-1.34%
TOTAL ASSETS
Total Short-Term Assets	$962.4M	$720.7M
Total Long-Term Assets	$837.1M	$852.7M
Total Assets	$1.799B	$1.573B
YoY Change	14.36%	5.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$111.0M	$96.00M
YoY Change	15.63%	17.07%
Accrued Expenses	$39.00M	$30.00M
YoY Change	30.0%	-9.09%
Deferred Revenue	$34.12M	$31.95M
YoY Change	6.78%
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due	$1.891M
YoY Change
Total Short-Term Liabilities	$502.5M	$447.6M
YoY Change	12.26%	10.74%
LONG-TERM LIABILITIES
Long-Term Debt	$97.38M	$74.73M
YoY Change	30.32%	201.89%
Other Long-Term Liabilities	$27.75M	$1.029M
YoY Change	2597.18%	-65.38%
Total Long-Term Liabilities	$125.1M	$75.76M
YoY Change	65.19%	173.24%
TOTAL LIABILITIES
Total Short-Term Liabilities	$502.5M	$447.6M
Total Long-Term Liabilities	$125.1M	$75.76M
Total Liabilities	$785.7M	$733.3M
YoY Change	7.14%	11.08%
SHAREHOLDERS EQUITY
Retained Earnings	$2.265B	$2.103B
YoY Change	7.72%	1.21%
Common Stock	$16.48M	$16.46M
YoY Change	0.13%	1.04%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$1.014B	$840.2M
YoY Change
Total Liabilities & Shareholders Equity	$1.799B	$1.573B
YoY Change	14.36%	5.6%

Cashflow Statement

Concept	2019 Q1	2018 Q1
OPERATING ACTIVITIES
Net Income	$75.31M	$65.76M
YoY Change	14.53%	37.35%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities	$24.24M	-$40.23M
YoY Change	-160.25%	14.54%
INVESTING ACTIVITIES
Capital Expenditures	-$17.40M	-$8.700M
YoY Change	100.0%	141.67%
Acquisitions
YoY Change
Other Investing Activities	$81.20M	-$8.000M
YoY Change	-1115.0%	128.57%
Cash From Investing Activities	$63.76M	-$16.74M
YoY Change	-480.89%	136.39%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-$42.37M	-$39.13M
YoY Change	8.29%	7.34%
NET CHANGE
Cash From Operating Activities	$24.24M	-$40.23M
Cash From Investing Activities	$63.76M	-$16.74M
Cash From Financing Activities	-$42.37M	-$39.13M
Net Change In Cash	$45.63M	-$96.09M
YoY Change	-147.48%	22.17%
FREE CASH FLOW
Cash From Operating Activities	$24.24M	-$40.23M
Capital Expenditures	-$17.40M	-$8.700M
Free Cash Flow	$41.64M	-$31.53M
YoY Change	-232.06%	0.03%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2019Q1	dei	Amendment Flag AmendmentFlag	false
CY2019Q1	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2019Q1	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q1
CY2019Q1	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2019
CY2019Q1	dei	Document Period End Date DocumentPeriodEndDate	2019-03-31
CY2019Q1	dei	Document Type DocumentType	10-Q
CY2019Q1	dei	Entity Central Index Key EntityCentralIndexKey	0000922621
CY2019Q1	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2019Q1	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
CY2019Q1	dei	Entity Filer Category EntityFilerCategory	Large Accelerated Filer
CY2019Q1	dei	Entity Registrant Name EntityRegistrantName	ERIE INDEMNITY CO
CY2019Q1	dei	Entity Small Business EntitySmallBusiness	false
CY2018Q1	erie	Administrative Services Expenses Paid AdministrativeServicesExpensesPaid	146935000	USD
CY2019Q1	erie	Administrative Services Expenses Paid AdministrativeServicesExpensesPaid	143046000	USD
CY2018Q1	erie	Administrative Services Reimbursements Received AdministrativeServicesReimbursementsReceived	150422000	USD
CY2019Q1	erie	Administrative Services Reimbursements Received AdministrativeServicesReimbursementsReceived	148308000	USD
CY2018Q4	erie	Agent Bonuses Payable Current AgentBonusesPayableCurrent	103462000	USD
CY2019Q1	erie	Agent Bonuses Payable Current AgentBonusesPayableCurrent	26129000	USD
CY2018Q4	erie	Common Stock Issued Director Stock Trust CommonStockIssuedDirectorStockTrust	11535000	USD
CY2019Q1	erie	Common Stock Issued Director Stock Trust CommonStockIssuedDirectorStockTrust	12689000	USD
CY2018Q1	erie	Deferred Compensation Under Rabbi Trust Plans DeferredCompensationUnderRabbiTrustPlans	0	USD
CY2019Q1	erie	Deferred Compensation Under Rabbi Trust Plans DeferredCompensationUnderRabbiTrustPlans	0	USD
CY2018Q4	erie	Finite Lived Intangible Assets And Property Plant And Equipment Net FiniteLivedIntangibleAssetsAndPropertyPlantAndEquipmentNet	130832000	USD
CY2019Q1	erie	Finite Lived Intangible Assets And Property Plant And Equipment Net FiniteLivedIntangibleAssetsAndPropertyPlantAndEquipmentNet	144652000	USD
CY2019Q1	erie	Insurance Agency Management Fee Percent InsuranceAgencyManagementFeePercent	0.25
CY2018Q1	erie	Net Treasury Stock Value Acquired Held And Reissued NetTreasuryStockValueAcquiredHeldAndReissued	9000	USD
CY2019Q1	erie	Net Treasury Stock Value Acquired Held And Reissued NetTreasuryStockValueAcquiredHeldAndReissued	-24000	USD
CY2018Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	266417000	USD
CY2018Q1	erie	Payments For Agent Bonuses PaymentsForAgentBonuses	122607000	USD
CY2019Q1	erie	Payments For Agent Bonuses PaymentsForAgentBonuses	104689000	USD
CY2018Q1	erie	Pension Contributionsand Paymentsfor Other Labor Related Expenses PensionContributionsandPaymentsforOtherLaborRelatedExpenses	49199000	USD
CY2019Q1	erie	Pension Contributionsand Paymentsfor Other Labor Related Expenses PensionContributionsandPaymentsforOtherLaborRelatedExpenses	10875000	USD
CY2018Q1	erie	Proceeds From Insurance Agency Management Fees Received ProceedsFromInsuranceAgencyManagementFeesReceived	418897000	USD
CY2019Q1	erie	Proceeds From Insurance Agency Management Fees Received ProceedsFromInsuranceAgencyManagementFeesReceived	433735000	USD
CY2019Q1	erie	Revenue Performance Obligation Numberof Performance Obligations RevenuePerformanceObligationNumberofPerformanceObligations	2	Obligations
CY2018Q4	us-gaap	Accounts Payable And Accrued Liabilities Current AccountsPayableAndAccruedLiabilitiesCurrent	111291000	USD
CY2019Q1	us-gaap	Accounts Payable And Accrued Liabilities Current AccountsPayableAndAccruedLiabilitiesCurrent	123179000	USD
CY2018Q4	us-gaap	Accounts Receivable Related Parties Current AccountsReceivableRelatedPartiesCurrent	449873000	USD
CY2018Q4	us-gaap	Accounts Receivable Related Parties Current AccountsReceivableRelatedPartiesCurrent	449900000	USD
CY2019Q1	us-gaap	Accounts Receivable Related Parties Current AccountsReceivableRelatedPartiesCurrent	456135000	USD
CY2019Q1	us-gaap	Accounts Receivable Related Parties Current AccountsReceivableRelatedPartiesCurrent	456100000	USD
CY2018Q4	us-gaap	Accrued Income Taxes Current AccruedIncomeTaxesCurrent	0	USD
CY2019Q1	us-gaap	Accrued Income Taxes Current AccruedIncomeTaxesCurrent	11946000	USD
CY2018Q4	us-gaap	Accrued Investment Income Receivable AccruedInvestmentIncomeReceivable	5263000	USD
CY2019Q1	us-gaap	Accrued Investment Income Receivable AccruedInvestmentIncomeReceivable	4220000	USD
CY2018Q4	us-gaap	Accrued Sales Commission Current AccruedSalesCommissionCurrent	241573000	USD
CY2019Q1	us-gaap	Accrued Sales Commission Current AccruedSalesCommissionCurrent	253002000	USD
CY2018Q4	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	-130284000	USD
CY2019Q1	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	-123574000	USD
CY2018Q4	us-gaap	Additional Paid In Capital Common Stock AdditionalPaidInCapitalCommonStock	16459000	USD
CY2019Q1	us-gaap	Additional Paid In Capital Common Stock AdditionalPaidInCapitalCommonStock	16483000	USD
CY2018Q4	us-gaap	Assets Assets	1778327000	USD
CY2019Q1	us-gaap	Assets Assets	1799456000	USD
CY2018Q4	us-gaap	Assets Current AssetsCurrent	1168946000	USD
CY2019Q1	us-gaap	Assets Current AssetsCurrent	962391000	USD
CY2019Q1	us-gaap	Available For Sale Debt Securities Amortized Cost Basis AvailableForSaleDebtSecuritiesAmortizedCostBasis	676847000	USD
CY2019Q1	us-gaap	Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost	133675000	USD
CY2019Q1	us-gaap	Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue	132586000	USD
CY2019Q1	us-gaap	Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost	320044000	USD
CY2019Q1	us-gaap	Available For Sale Securities Debt Maturities After One Through Five Years Fair Value AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue	319564000	USD
CY2019Q1	us-gaap	Available For Sale Securities Debt Maturities After Ten Years Amortized Cost AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost	99794000	USD
CY2019Q1	us-gaap	Available For Sale Securities Debt Maturities After Ten Years Fair Value AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue	99569000	USD
CY2019Q1	us-gaap	Available For Sale Securities Debt Maturities Within One Year Amortized Cost AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost	123334000	USD
CY2019Q1	us-gaap	Available For Sale Securities Debt Maturities Within One Year Fair Value AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue	123200000	USD
CY2019Q1	us-gaap	Available For Sale Securities Debt Securities AvailableForSaleSecuritiesDebtSecurities	674919000	USD
CY2018Q4	us-gaap	Available For Sale Securities Debt Securities Current AvailableForSaleSecuritiesDebtSecuritiesCurrent	402339000	USD
CY2019Q1	us-gaap	Available For Sale Securities Debt Securities Current AvailableForSaleSecuritiesDebtSecuritiesCurrent	139994000	USD
CY2018Q4	us-gaap	Available For Sale Securities Debt Securities Noncurrent AvailableForSaleSecuritiesDebtSecuritiesNoncurrent	346184000	USD
CY2019Q1	us-gaap	Available For Sale Securities Debt Securities Noncurrent AvailableForSaleSecuritiesDebtSecuritiesNoncurrent	534925000	USD
CY2017Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	215721000	USD
CY2018Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	119627000	USD
CY2019Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	312045000	USD
CY2018Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-96094000	USD
CY2019Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	45628000	USD
CY2018Q1	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	60331000	USD
CY2019Q1	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	82021000	USD
CY2018Q4	us-gaap	Contract With Customer Liability Current ContractWithCustomerLiabilityCurrent	33854000	USD
CY2019Q1	us-gaap	Contract With Customer Liability Current ContractWithCustomerLiabilityCurrent	34116000	USD
CY2018Q4	us-gaap	Contract With Customer Liability Noncurrent ContractWithCustomerLiabilityNoncurrent	17873000	USD
CY2019Q1	us-gaap	Contract With Customer Liability Noncurrent ContractWithCustomerLiabilityNoncurrent	17907000	USD
CY2018Q1	us-gaap	Cumulative Effect Of New Accounting Principle In Period Of Adoption CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	-38392000	USD
CY2018Q4	us-gaap	Deferred Compensation Liability Classified Noncurrent DeferredCompensationLiabilityClassifiedNoncurrent	13075000	USD
CY2019Q1	us-gaap	Deferred Compensation Liability Classified Noncurrent DeferredCompensationLiabilityClassifiedNoncurrent	16817000	USD
CY2018Q4	us-gaap	Deferred Compensation Liability Current DeferredCompensationLiabilityCurrent	13107000	USD
CY2019Q1	us-gaap	Deferred Compensation Liability Current DeferredCompensationLiabilityCurrent	10346000	USD
CY2018Q4	us-gaap	Deferred Tax Assets Liabilities Net DeferredTaxAssetsLiabilitiesNet	24101000	USD
CY2019Q1	us-gaap	Deferred Tax Assets Liabilities Net DeferredTaxAssetsLiabilitiesNet	22180000	USD
CY2018Q4	us-gaap	Defined Benefit Pension Plan Liabilities Noncurrent DefinedBenefitPensionPlanLiabilitiesNoncurrent	116866000	USD
CY2019Q1	us-gaap	Defined Benefit Pension Plan Liabilities Noncurrent DefinedBenefitPensionPlanLiabilitiesNoncurrent	123270000	USD
CY2018Q1	us-gaap	Defined Benefit Plan Amortization Of Gains Losses DefinedBenefitPlanAmortizationOfGainsLosses	-3202000	USD
CY2019Q1	us-gaap	Defined Benefit Plan Amortization Of Gains Losses DefinedBenefitPlanAmortizationOfGainsLosses	-1278000	USD
CY2018Q1	us-gaap	Defined Benefit Plan Amortization Of Prior Service Cost Credit DefinedBenefitPlanAmortizationOfPriorServiceCostCredit	338000	USD
CY2019Q1	us-gaap	Defined Benefit Plan Amortization Of Prior Service Cost Credit DefinedBenefitPlanAmortizationOfPriorServiceCostCredit	349000	USD
CY2018Q1	us-gaap	Defined Benefit Plan Expected Return On Plan Assets DefinedBenefitPlanExpectedReturnOnPlanAssets	12815000	USD
CY2019Q1	us-gaap	Defined Benefit Plan Expected Return On Plan Assets DefinedBenefitPlanExpectedReturnOnPlanAssets	11871000	USD
CY2018Q1	us-gaap	Defined Benefit Plan Interest Cost DefinedBenefitPlanInterestCost	8846000	USD
CY2019Q1	us-gaap	Defined Benefit Plan Interest Cost DefinedBenefitPlanInterestCost	9827000	USD
CY2018Q1	us-gaap	Defined Benefit Plan Net Periodic Benefit Cost DefinedBenefitPlanNetPeriodicBenefitCost	9084000	USD
CY2019Q1	us-gaap	Defined Benefit Plan Net Periodic Benefit Cost DefinedBenefitPlanNetPeriodicBenefitCost	8046000	USD
CY2018Q1	us-gaap	Defined Benefit Plan Service Cost DefinedBenefitPlanServiceCost	9513000	USD
CY2019Q1	us-gaap	Defined Benefit Plan Service Cost DefinedBenefitPlanServiceCost	8463000	USD
CY2018Q4	us-gaap	Dividends Payable Current DividendsPayableCurrent	41910000	USD
CY2019Q1	us-gaap	Dividends Payable Current DividendsPayableCurrent	41913000	USD
CY2018Q1	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.210
CY2019Q1	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.212
CY2018Q1	us-gaap	Equity Method Investment Dividends Or Distributions EquityMethodInvestmentDividendsOrDistributions	426000	USD
CY2019Q1	us-gaap	Equity Method Investment Dividends Or Distributions EquityMethodInvestmentDividendsOrDistributions	1225000	USD
CY2018Q4	us-gaap	Equity Method Investments EquityMethodInvestments	34821000	USD
CY2019Q1	us-gaap	Equity Method Investments EquityMethodInvestments	30038000	USD
CY2018Q4	us-gaap	Equity Securities Fv Ni EquitySecuritiesFvNi	11853000	USD
CY2019Q1	us-gaap	Equity Securities Fv Ni EquitySecuritiesFvNi	12410000	USD
CY2018Q1	us-gaap	Gain Loss On Investments Excluding Other Than Temporary Impairments GainLossOnInvestmentsExcludingOtherThanTemporaryImpairments	-465000	USD
CY2019Q1	us-gaap	Gain Loss On Investments Excluding Other Than Temporary Impairments GainLossOnInvestmentsExcludingOtherThanTemporaryImpairments	2503000	USD
CY2018Q1	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	83221000	USD
CY2019Q1	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	95515000	USD
CY2018Q1	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	-192000	USD
CY2019Q1	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	-1147000	USD
CY2018Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	17463000	USD
CY2019Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	20204000	USD
CY2018Q1	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	276000	USD
CY2019Q1	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	-138000	USD
CY2018Q4	us-gaap	Income Taxes Receivable IncomeTaxesReceivable	8162000	USD
CY2019Q1	us-gaap	Income Taxes Receivable IncomeTaxesReceivable	0	USD
CY2018Q1	us-gaap	Interest And Dividend Income Operating InterestAndDividendIncomeOperating	7260000	USD
CY2019Q1	us-gaap	Interest And Dividend Income Operating InterestAndDividendIncomeOperating	8767000	USD
CY2018Q1	us-gaap	Interest Expense InterestExpense	553000	USD
CY2019Q1	us-gaap	Interest Expense InterestExpense	449000	USD
CY2018Q1	us-gaap	Interest Paid Net InterestPaidNet	550000	USD
CY2019Q1	us-gaap	Interest Paid Net InterestPaidNet	448000	USD
CY2018Q1	us-gaap	Investment Income Investment Expense InvestmentIncomeInvestmentExpense	440000	USD
CY2019Q1	us-gaap	Investment Income Investment Expense InvestmentIncomeInvestmentExpense	250000	USD
CY2018Q1	us-gaap	Investment Income Nonoperating InvestmentIncomeNonoperating	6163000	USD
CY2019Q1	us-gaap	Investment Income Nonoperating InvestmentIncomeNonoperating	9795000	USD
CY2018Q4	us-gaap	Liabilities Liabilities	804655000	USD
CY2019Q1	us-gaap	Liabilities Liabilities	785652000	USD
CY2018Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	1778327000	USD
CY2019Q1	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	1799456000	USD
CY2018Q4	us-gaap	Liabilities Current LiabilitiesCurrent	547067000	USD
CY2019Q1	us-gaap	Liabilities Current LiabilitiesCurrent	502522000	USD
CY2018Q4	us-gaap	Long Term Debt Current LongTermDebtCurrent	1870000	USD
CY2019Q1	us-gaap	Long Term Debt Current LongTermDebtCurrent	1891000	USD
CY2018Q4	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	97860000	USD
CY2019Q1	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	97382000	USD
CY2018Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-39125000	USD
CY2019Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-42370000	USD
CY2018Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-16739000	USD
CY2019Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	63758000	USD
CY2018Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-40230000	USD
CY2019Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	24240000	USD
CY2018Q1	us-gaap	Net Income Loss NetIncomeLoss	65758000	USD
CY2019Q1	us-gaap	Net Income Loss NetIncomeLoss	75311000	USD
CY2018Q1	us-gaap	Net Investment Income NetInvestmentIncome	6820000	USD
CY2019Q1	us-gaap	Net Investment Income NetInvestmentIncome	8517000	USD
CY2018Q1	us-gaap	Operating Expenses OperatingExpenses	494593000	USD
CY2019Q1	us-gaap	Operating Expenses OperatingExpenses	507984000	USD
CY2018Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	77567000	USD
CY2019Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	86122000	USD
CY2019Q1	us-gaap	Operating Lease Cost OperatingLeaseCost	3600000	USD
CY2019Q1	us-gaap	Operating Lease Liability OperatingLeaseLiability	29055000	USD
CY2019Q1	us-gaap	Operating Lease Liability OperatingLeaseLiability	32100000	USD
CY2019Q1	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	12466000	USD
CY2019Q1	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	16589000	USD
CY2019Q1	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	28611000	USD
CY2019Q1	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	32700000	USD
CY2019Q1	us-gaap	Proceeds From Limited Partnership Investments ProceedsFromLimitedPartnershipInvestments	2411000	USD
CY2018Q1	us-gaap	Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities	28473000	USD
CY2018Q4	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	61590000	USD
CY2019Q1	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	92860000	USD
CY2019Q1	us-gaap	Other Commitment OtherCommitment	9800000	USD
CY2018Q1	us-gaap	Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent	-5427000	USD
CY2019Q1	us-gaap	Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent	5478000	USD
CY2018Q1	us-gaap	Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent	0	USD
CY2019Q1	us-gaap	Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent	-1232000	USD
CY2018Q1	us-gaap	Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent	-5427000	USD
CY2019Q1	us-gaap	Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent	6710000	USD
CY2018Q4	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	11914000	USD
CY2019Q1	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	27754000	USD
CY2018Q1	us-gaap	Other Nonoperating Income OtherNonoperatingIncome	44000	USD
CY2019Q1	us-gaap	Other Nonoperating Income OtherNonoperatingIncome	47000	USD
CY2018Q1	us-gaap	Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognized In Earnings OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSaleRecognizedInEarnings	0	USD
CY2018Q1	us-gaap	Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognized In Earnings OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSaleRecognizedInEarnings	0	USD
CY2019Q1	us-gaap	Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognized In Earnings OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSaleRecognizedInEarnings	100000	USD
CY2019Q1	us-gaap	Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognized In Earnings OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSaleRecognizedInEarnings	78000	USD
CY2018Q1	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
CY2019Q1	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
CY2018Q1	us-gaap	Payments For Commissions PaymentsForCommissions	192803000	USD
CY2019Q1	us-gaap	Payments For Commissions PaymentsForCommissions	204633000	USD
CY2018Q1	us-gaap	Payments For Other Operating Activities PaymentsForOtherOperatingActivities	59033000	USD
CY2019Q1	us-gaap	Payments For Other Operating Activities PaymentsForOtherOperatingActivities	60439000	USD
CY2018Q1	us-gaap	Payments Of Dividends Common Stock PaymentsOfDividendsCommonStock	39116000	USD
CY2019Q1	us-gaap	Payments Of Dividends Common Stock PaymentsOfDividendsCommonStock	41910000	USD
CY2018Q1	us-gaap	Payments To Acquire Available For Sale Securities Debt PaymentsToAcquireAvailableForSaleSecuritiesDebt	77263000	USD
CY2019Q1	us-gaap	Payments To Acquire Available For Sale Securities Debt PaymentsToAcquireAvailableForSaleSecuritiesDebt	220811000	USD
CY2018Q1	us-gaap	Payments To Acquire Limited Partnership Interests PaymentsToAcquireLimitedPartnershipInterests	31000	USD
CY2019Q1	us-gaap	Payments To Acquire Limited Partnership Interests PaymentsToAcquireLimitedPartnershipInterests	9000	USD
CY2018Q1	us-gaap	Payments To Acquire Loans Receivable PaymentsToAcquireLoansReceivable	19310000	USD
CY2019Q1	us-gaap	Payments To Acquire Loans Receivable PaymentsToAcquireLoansReceivable	6233000	USD
CY2018Q1	us-gaap	Payments To Acquire Marketable Securities PaymentsToAcquireMarketableSecurities	1035000	USD
CY2019Q1	us-gaap	Payments To Acquire Marketable Securities PaymentsToAcquireMarketableSecurities	0	USD
CY2018Q1	us-gaap	Payments To Acquire Productive Assets PaymentsToAcquireProductiveAssets	8691000	USD
CY2019Q1	us-gaap	Payments To Acquire Productive Assets PaymentsToAcquireProductiveAssets	17411000	USD
CY2018Q1	us-gaap	Payments To Employees PaymentsToEmployees	54668000	USD
CY2019Q1	us-gaap	Payments To Employees PaymentsToEmployees	50840000	USD
CY2018Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	36892000	USD
CY2019Q1	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	49997000	USD
CY2018Q1	us-gaap	Proceeds From Collection Of Loans Receivable ProceedsFromCollectionOfLoansReceivable	1436000	USD
CY2019Q1	us-gaap	Proceeds From Collection Of Loans Receivable ProceedsFromCollectionOfLoansReceivable	2313000	USD
CY2018Q1	us-gaap	Proceeds From Fees Received ProceedsFromFeesReceived	7145000	USD
CY2019Q1	us-gaap	Proceeds From Fees Received ProceedsFromFeesReceived	6692000	USD
CY2018Q1	us-gaap	Proceeds From Interest And Dividends Received ProceedsFromInterestAndDividendsReceived	8951000	USD
CY2019Q1	us-gaap	Proceeds From Interest And Dividends Received ProceedsFromInterestAndDividendsReceived	9112000	USD
CY2018Q1	us-gaap	Proceeds From Limited Partnership Investments ProceedsFromLimitedPartnershipInvestments	910000	USD
CY2019Q1	us-gaap	Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities	154343000	USD
CY2018Q1	us-gaap	Proceeds From Sale And Maturity Of Marketable Securities ProceedsFromSaleAndMaturityOfMarketableSecurities	1055000	USD
CY2019Q1	us-gaap	Proceeds From Sale And Maturity Of Marketable Securities ProceedsFromSaleAndMaturityOfMarketableSecurities	0	USD
CY2018Q1	us-gaap	Proceeds From Sale Of Available For Sale Securities Debt ProceedsFromSaleOfAvailableForSaleSecuritiesDebt	57717000	USD
CY2019Q1	us-gaap	Proceeds From Sale Of Available For Sale Securities Debt ProceedsFromSaleOfAvailableForSaleSecuritiesDebt	149155000	USD
CY2018Q1	us-gaap	Repayments Of Secured Debt RepaymentsOfSecuredDebt	9000	USD
CY2019Q1	us-gaap	Repayments Of Secured Debt RepaymentsOfSecuredDebt	460000	USD
CY2018Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	2231417000	USD
CY2019Q1	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	2264815000	USD
CY2018Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	572160000	USD
CY2019Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	594106000	USD
CY2018Q1	us-gaap	Right Of Use Asset Obtained In Exchange For Operating Lease Liability RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability	0	USD
CY2019Q1	us-gaap	Right Of Use Asset Obtained In Exchange For Operating Lease Liability RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability	32515000	USD
CY2017Q4	us-gaap	Stockholders Equity StockholdersEquity	857344000	USD
CY2018Q1	us-gaap	Stockholders Equity StockholdersEquity	840155000	USD
CY2018Q4	us-gaap	Stockholders Equity StockholdersEquity	973672000	USD
CY2019Q1	us-gaap	Stockholders Equity StockholdersEquity	1013804000	USD
CY2018Q4	us-gaap	Stockholders Equity Before Treasury Stock StockholdersEquityBeforeTreasuryStock	2119762000	USD
CY2019Q1	us-gaap	Stockholders Equity Before Treasury Stock StockholdersEquityBeforeTreasuryStock	2159894000	USD
CY2018Q4	us-gaap	Treasury Stock Common Shares TreasuryStockCommonShares	22110132	shares
CY2019Q1	us-gaap	Treasury Stock Common Shares TreasuryStockCommonShares	22110132	shares
CY2018Q4	us-gaap	Treasury Stock Common Value TreasuryStockCommonValue	1157625000	USD
CY2019Q1	us-gaap	Treasury Stock Common Value TreasuryStockCommonValue	1158779000	USD
CY2019Q1	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;">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. </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 affiliated 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 and cost reimbursements. See Note 13, "Concentrations of Credit Risk".</font></div></div>
CY2019Q1	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

Name	View Source	Status
0000922621-19-000014-index-headers.html	Edgar Link	pending
0000922621-19-000014-index.html	Edgar Link	pending
0000922621-19-000014.txt	Edgar Link	pending
0000922621-19-000014-xbrl.zip	Edgar Link	pending
erie-20190331.xml	Edgar Link	completed
erie-20190331.xsd	Edgar Link	pending
erie-20190331_cal.xml	Edgar Link	unprocessable
erie-20190331_def.xml	Edgar Link	unprocessable
erie-20190331_lab.xml	Edgar Link	unprocessable
erie-20190331_pre.xml	Edgar Link	unprocessable
erie10-q03312019.htm	Edgar Link	pending
ex-10103312019.htm	Edgar Link	pending
ex-31103312019.htm	Edgar Link	pending
ex-31203312019.htm	Edgar Link	pending
ex-3203312019.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
R12.htm	Edgar Link	pending
R13.htm	Edgar Link	pending
R14.htm	Edgar Link	pending
R15.htm	Edgar Link	pending
R16.htm	Edgar Link	pending
R17.htm	Edgar Link	pending
R18.htm	Edgar Link	pending
R19.htm	Edgar Link	pending
R2.htm	Edgar Link	pending
R20.htm	Edgar Link	pending
R21.htm	Edgar Link	pending
R22.htm	Edgar Link	pending
R23.htm	Edgar Link	pending
R24.htm	Edgar Link	pending
R25.htm	Edgar Link	pending
R26.htm	Edgar Link	pending
R27.htm	Edgar Link	pending
R28.htm	Edgar Link	pending
R29.htm	Edgar Link	pending
R3.htm	Edgar Link	pending
R30.htm	Edgar Link	pending
R31.htm	Edgar Link	pending
R32.htm	Edgar Link	pending
R33.htm	Edgar Link	pending
R34.htm	Edgar Link	pending
R35.htm	Edgar Link	pending
R36.htm	Edgar Link	pending
R37.htm	Edgar Link	pending
R38.htm	Edgar Link	pending
R39.htm	Edgar Link	pending
R4.htm	Edgar Link	pending
R40.htm	Edgar Link	pending
R41.htm	Edgar Link	pending
R42.htm	Edgar Link	pending
R43.htm	Edgar Link	pending
R44.htm	Edgar Link	pending
R45.htm	Edgar Link	pending
R46.htm	Edgar Link	pending
R47.htm	Edgar Link	pending
R48.htm	Edgar Link	pending
R49.htm	Edgar Link	pending
R5.htm	Edgar Link	pending
R50.htm	Edgar Link	pending
R51.htm	Edgar Link	pending
R52.htm	Edgar Link	pending
R53.htm	Edgar Link	pending
R54.htm	Edgar Link	pending
R55.htm	Edgar Link	pending
R56.htm	Edgar Link	pending
R57.htm	Edgar Link	pending
R58.htm	Edgar Link	pending
R59.htm	Edgar Link	pending
R6.htm	Edgar Link	pending
R60.htm	Edgar Link	pending
R61.htm	Edgar Link	pending
R7.htm	Edgar Link	pending
R8.htm	Edgar Link	pending
R9.htm	Edgar Link	pending
report.css	Edgar Link	pending
Show.js	Edgar Link	pending

Create your account

Find Stocks Worth Researching

Deeply Understand Businesses

Value Businesses Intelligently

$ERIE
ERIE INDEMNITY CO Stock $erie

2019 Q1 Form 10-Q Financial Statement

#000092262119000014 Filed on May 02, 2019

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$ERIE ERIE INDEMNITY CO Stock $erie

2019 Q1 Form 10-Q Financial Statement

#000092262119000014 Filed on May 02, 2019

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$ERIE
ERIE INDEMNITY CO Stock $erie