2020 Q1 Form 10-Q Financial Statement

#000092262120000021 Filed on May 07, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $8.618M $8.767M
YoY Change -1.7% -98.47%
Cost Of Revenue $531.0M $508.0M
YoY Change 4.53% 2.71%
Gross Profit $85.70M $86.10M
YoY Change -0.46% 10.95%
Gross Profit Margin 994.43% 982.09%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $531.0M $508.0M
YoY Change 4.54% 2.71%
Operating Profit $85.69M $86.12M
YoY Change -0.5% 11.03%
Interest Expense $3.000K $449.0K
YoY Change -99.33% -18.81%
% of Operating Profit 0.0% 0.52%
Other Income/Expense, Net -$9.195M $9.795M
YoY Change -193.87% 22161.36%
Pretax Income $76.13M $95.52M
YoY Change -20.3% 14.77%
Income Tax $16.80M $20.20M
% Of Pretax Income 22.07% 21.15%
Net Earnings $59.33M $75.31M
YoY Change -21.23% 14.53%
Net Earnings / Revenue 688.4% 859.03%
Basic Earnings Per Share
Diluted Earnings Per Share $1.015M $1.289M
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $263.5M $452.0M
YoY Change -41.72% 109.08%
Cash & Equivalents $228.6M $312.0M
Short-Term Investments $34.82M $140.0M
Other Short-Term Assets $59.00M $50.00M
YoY Change 18.0% 16.28%
Inventory
Prepaid Expenses
Receivables $482.2M $460.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $810.1M $962.4M
YoY Change -15.83% 33.53%
LONG-TERM ASSETS
Property, Plant & Equipment $259.0M $173.0M
YoY Change 49.71% 96.59%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $22.49M $30.04M
YoY Change -25.12% -31.91%
Other Assets $32.62M $92.86M
YoY Change -64.87% 104.99%
Total Long-Term Assets $1.147B $837.1M
YoY Change 37.08% -1.84%
TOTAL ASSETS
Total Short-Term Assets $810.1M $962.4M
Total Long-Term Assets $1.147B $837.1M
Total Assets $1.957B $1.799B
YoY Change 8.78% 14.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $119.0M $111.0M
YoY Change 7.21% 15.63%
Accrued Expenses $41.00M $39.00M
YoY Change 5.13% 30.0%
Deferred Revenue $35.81M $34.12M
YoY Change 4.97% 6.78%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $2.000M $1.891M
YoY Change 5.76%
Total Short-Term Liabilities $541.7M $502.5M
YoY Change 7.8% 12.26%
LONG-TERM LIABILITIES
Long-Term Debt $95.34M $97.38M
YoY Change -2.09% 30.32%
Other Long-Term Liabilities $19.43M $27.75M
YoY Change -29.98% 2597.18%
Total Long-Term Liabilities $114.8M $125.1M
YoY Change -8.28% 65.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $541.7M $502.5M
Total Long-Term Liabilities $114.8M $125.1M
Total Liabilities $840.5M $785.7M
YoY Change 6.98% 7.14%
SHAREHOLDERS EQUITY
Retained Earnings $2.391B $2.265B
YoY Change 5.57% 7.72%
Common Stock $16.49M $16.48M
YoY Change 0.02% 0.13%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.117B $1.014B
YoY Change
Total Liabilities & Shareholders Equity $1.957B $1.799B
YoY Change 8.78% 14.36%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income $59.33M $75.31M
YoY Change -21.23% 14.53%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $20.08M $24.24M
YoY Change -17.17% -160.25%
INVESTING ACTIVITIES
Capital Expenditures -$21.10M -$17.40M
YoY Change 21.26% 100.0%
Acquisitions
YoY Change
Other Investing Activities -$61.70M $81.20M
YoY Change -175.99% -1115.0%
Cash From Investing Activities -$82.75M $63.76M
YoY Change -229.79% -480.89%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$45.42M -$42.37M
YoY Change 7.2% 8.29%
NET CHANGE
Cash From Operating Activities $20.08M $24.24M
Cash From Investing Activities -$82.75M $63.76M
Cash From Financing Activities -$45.42M -$42.37M
Net Change In Cash -$108.1M $45.63M
YoY Change -336.9% -147.48%
FREE CASH FLOW
Cash From Operating Activities $20.08M $24.24M
Capital Expenditures -$21.10M -$17.40M
Free Cash Flow $41.18M $41.64M
YoY Change -1.11% -232.06%

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35405000 USD
CY2019Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
154343000 USD
CY2020Q1 erie Proceedsfrom Saleand Maturityof Equity Securities
ProceedsfromSaleandMaturityofEquitySecurities
13446000 USD
CY2019Q1 erie Proceedsfrom Saleand Maturityof Equity Securities
ProceedsfromSaleandMaturityofEquitySecurities
0 USD
CY2020Q1 us-gaap Proceeds From Limited Partnership Investments
ProceedsFromLimitedPartnershipInvestments
328000 USD
CY2019Q1 us-gaap Proceeds From Limited Partnership Investments
ProceedsFromLimitedPartnershipInvestments
2411000 USD
CY2020Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
21086000 USD
CY2019Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
17411000 USD
CY2020Q1 us-gaap Payments To Acquire Loans Receivable
PaymentsToAcquireLoansReceivable
1803000 USD
CY2019Q1 us-gaap Payments To Acquire Loans Receivable
PaymentsToAcquireLoansReceivable
6233000 USD
CY2020Q1 us-gaap Proceeds From Collection Of Loans Receivable
ProceedsFromCollectionOfLoansReceivable
1943000 USD
CY2019Q1 us-gaap Proceeds From Collection Of Loans Receivable
ProceedsFromCollectionOfLoansReceivable
2313000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-82749000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
63758000 USD
CY2020Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
44940000 USD
CY2019Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
41910000 USD
CY2020Q1 us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
-481000 USD
CY2019Q1 us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
-460000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-45421000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-42370000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-108093000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
45628000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
336739000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
266417000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
228646000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
312045000 USD
CY2020Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1333000 USD
CY2019Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
32515000 USD
CY2020Q1 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
767000 USD
CY2019Q1 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
0 USD
CY2020Q1 us-gaap Nature Of Operations
NatureOfOperations
Nature of Operations<div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div><div style="line-height:120%;font-size:10pt;"><span 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. </span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div><div style="line-height:120%;font-size:10pt;"><span 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 </span><span style="font-family:inherit;font-size:10pt;"><span>two</span></span><span 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 </span><span style="font-family:inherit;font-size:10pt;"><span>two</span></span><span 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.</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span 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.</span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span 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. </span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span 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". </span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;text-decoration:underline;">Coronavirus ("COVID-19") pandemic</span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On March 11, 2020, the World Health Organization declared the outbreak of the coronavirus ("COVID-19") a global pandemic.  The impacts of the pandemic have resulted in recessionary conditions in the economy and significant volatility in the financial markets. The Exchange will likely experience constraints on premium growth due to the economic conditions, and has announced planned future rate reductions to provide financial relief to policyholders, which will impact our management fee revenue.  See also Note 15, "Subsequent Events".  </span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div>The economic conditions resulting from the COVID-19 pandemic may negatively impact the collectability of the Exchange’s premiums receivable, however no such impact has been noted through the date of this report. We have experienced unrealized losses and impairment losses on our investment portfolio in the first quarter of 2020 as a result of the volatility in the financial markets. We are unable to predict the duration or extent of the business disruption or the financial impact given the ongoing development of the pandemic and its impacts on the economy and financial markets.
CY2020Q1 erie Revenue Performance Obligation Numberof Performance Obligations
RevenuePerformanceObligationNumberofPerformanceObligations
2 Obligations
CY2020Q1 erie Revenue Performance Obligation Numberof Performance Obligations
RevenuePerformanceObligationNumberofPerformanceObligations
2 Obligations
CY2020Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;text-decoration:underline;">Use of estimates</span></div><div style="line-height:120%;font-size:10pt;"><span 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.</span></div>
CY2020Q1 erie Insurance Agency Management Fee Percent
InsuranceAgencyManagementFeePercent
0.25
CY2020Q1 erie Insurance Agency Management Fee Percent
InsuranceAgencyManagementFeePercent
0.25
CY2020Q1 erie Revenue Performance Obligation Numberof Performance Obligations
RevenuePerformanceObligationNumberofPerformanceObligations
2 Obligations
CY2020Q1 erie Revenue Recognition Management Fee Returned Premium Cancellation Allowance
RevenueRecognitionManagementFeeReturnedPremiumCancellationAllowance
3500000 USD
CY2019Q1 erie Revenue Recognition Management Fee Returned Premium Cancellation Allowance
RevenueRecognitionManagementFeeReturnedPremiumCancellationAllowance
900000 USD
CY2020Q1 erie Revenue Performance Obligation Numberof Performance Obligations
RevenuePerformanceObligationNumberofPerformanceObligations
2 Obligations
CY2020Q1 erie Revenue Performance Obligation Numberof Performance Obligations
RevenuePerformanceObligationNumberofPerformanceObligations
2 Obligations
CY2019Q1 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
250000 USD
CY2020Q1 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
8618000 USD
CY2019Q1 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
8767000 USD
CY2020Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
27108000 USD
CY2020Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
26764000 USD
CY2020Q1 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
344995000 USD
CY2020Q1 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
333389000 USD
CY2020Q1 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost
134580000 USD
CY2020Q1 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
125505000 USD
CY2020Q1 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost
272635000 USD
CY2020Q1 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
265995000 USD
CY2020Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
779318000 USD
CY2020Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
751653000 USD
CY2020Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
1000000.0 USD
CY2020Q1 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
600000 USD
CY2020Q1 us-gaap Net Investment Income
NetInvestmentIncome
8369000 USD
CY2019Q1 us-gaap Net Investment Income
NetInvestmentIncome
8517000 USD
CY2020Q1 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
249000 USD
CY2020Q1 us-gaap Debt And Equity Securities Gain Loss
DebtAndEquitySecuritiesGainLoss
-10806000 USD
CY2019Q1 us-gaap Debt And Equity Securities Gain Loss
DebtAndEquitySecuritiesGainLoss
2503000 USD
CY2020Q1 erie Debt Securities Availableforsale Sellbefore Recovery
DebtSecuritiesAvailableforsaleSellbeforeRecovery
2242000 USD
CY2019Q1 erie Debt Securities Availableforsale Sellbefore Recovery
DebtSecuritiesAvailableforsaleSellbeforeRecovery
78000 USD
CY2020Q1 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Not Previously Recorded
DebtSecuritiesAvailableForSaleAllowanceForCreditLossNotPreviouslyRecorded
641000 USD
CY2019Q1 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Not Previously Recorded
DebtSecuritiesAvailableForSaleAllowanceForCreditLossNotPreviouslyRecorded
0 USD
CY2020Q1 erie Available For Sale Debt Securities Impairment Loss
AvailableForSaleDebtSecuritiesImpairmentLoss
2883000 USD
CY2019Q1 erie Available For Sale Debt Securities Impairment Loss
AvailableForSaleDebtSecuritiesImpairmentLoss
78000 USD
CY2020Q1 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
170000 USD
CY2019Q1 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
0 USD
CY2020Q1 erie Available For Sale Debt Securities And Financing Receivables Impairment Loss
AvailableForSaleDebtSecuritiesAndFinancingReceivablesImpairmentLoss
3053000 USD
CY2019Q1 erie Available For Sale Debt Securities And Financing Receivables Impairment Loss
AvailableForSaleDebtSecuritiesAndFinancingReceivablesImpairmentLoss
78000 USD
CY2020Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
3400000 USD
CY2019Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
3600000 USD
CY2020Q1 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
10873000 USD
CY2019Q1 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
8463000 USD
CY2020Q1 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
9395000 USD
CY2019Q1 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
9827000 USD
CY2020Q1 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
12353000 USD
CY2019Q1 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
11871000 USD
CY2020Q1 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
336000 USD
CY2019Q1 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
349000 USD
CY2020Q1 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-3031000 USD
CY2019Q1 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-1278000 USD
CY2020Q1 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
11282000 USD
CY2019Q1 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
8046000 USD
CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.221
CY2019Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.212
CY2020Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
6800000 USD
CY2020Q1 erie Valuation Allowance Deferred Tax Asset Increasedueto Unrealized Losses
ValuationAllowanceDeferredTaxAssetIncreaseduetoUnrealizedLosses
5800000 USD
CY2020Q1 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
1000000.0 USD
CY2020Q1 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.012
CY2020Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
482200000 USD
CY2019Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
468600000 USD

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