2021 Q1 Form 10-Q Financial Statement

#000092262121000022 Filed on April 29, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $17.99M $8.618M
YoY Change 108.73% -1.7%
Cost Of Revenue $554.1M $531.0M
YoY Change 4.35% 4.53%
Gross Profit $76.10M $85.70M
YoY Change -11.2% -0.46%
Gross Profit Margin 423.06% 994.43%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $554.1M $531.0M
YoY Change 4.34% 4.54%
Operating Profit $76.10M $85.69M
YoY Change -11.2% -0.5%
Interest Expense $1.009M $3.000K
YoY Change 33533.33% -99.33%
% of Operating Profit 1.33% 0.0%
Other Income/Expense, Net $17.99M -$9.195M
YoY Change -295.63% -193.87%
Pretax Income $92.56M $76.13M
YoY Change 21.58% -20.3%
Income Tax $18.99M $16.80M
% Of Pretax Income 20.52% 22.07%
Net Earnings $73.57M $59.33M
YoY Change 24.0% -21.23%
Net Earnings / Revenue 408.97% 688.4%
Basic Earnings Per Share
Diluted Earnings Per Share $1.260M $1.015M
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $152.0M $263.5M
YoY Change -42.29% -41.72%
Cash & Equivalents $135.2M $228.6M
Short-Term Investments $16.85M $34.82M
Other Short-Term Assets $62.00M $59.00M
YoY Change 5.08% 18.0%
Inventory
Prepaid Expenses
Receivables $481.5M $482.2M
Other Receivables $0.00 $0.00
Total Short-Term Assets $701.9M $810.1M
YoY Change -13.35% -15.83%
LONG-TERM ASSETS
Property, Plant & Equipment $282.0M $259.0M
YoY Change 8.88% 49.71%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $994.0M $22.49M
YoY Change 4319.35% -25.12%
Other Assets $44.27M $32.62M
YoY Change 35.71% -64.87%
Total Long-Term Assets $1.397B $1.147B
YoY Change 21.77% 37.08%
TOTAL ASSETS
Total Short-Term Assets $701.9M $810.1M
Total Long-Term Assets $1.397B $1.147B
Total Assets $2.099B $1.957B
YoY Change 7.23% 8.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $168.0M $119.0M
YoY Change 41.18% 7.21%
Accrued Expenses $31.00M $41.00M
YoY Change -24.39% 5.13%
Deferred Revenue $35.80M $35.81M
YoY Change -0.03% 4.97%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $2.053M $2.000M
YoY Change 2.65% 5.76%
Total Short-Term Liabilities $571.4M $541.7M
YoY Change 5.49% 7.8%
LONG-TERM LIABILITIES
Long-Term Debt $93.31M $95.34M
YoY Change -2.13% -2.09%
Other Long-Term Liabilities $17.06M $19.43M
YoY Change -12.2% -29.98%
Total Long-Term Liabilities $110.4M $114.8M
YoY Change -3.84% -8.28%
TOTAL LIABILITIES
Total Short-Term Liabilities $571.4M $541.7M
Total Long-Term Liabilities $110.4M $114.8M
Total Liabilities $891.0M $840.5M
YoY Change 6.0% 6.98%
SHAREHOLDERS EQUITY
Retained Earnings $2.419B $2.391B
YoY Change 1.18% 5.57%
Common Stock $16.50M $16.49M
YoY Change 0.05% 0.02%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.208B $1.117B
YoY Change
Total Liabilities & Shareholders Equity $2.099B $1.957B
YoY Change 7.23% 8.78%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $73.57M $59.33M
YoY Change 24.0% -21.23%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $33.48M $20.08M
YoY Change 66.77% -17.17%
INVESTING ACTIVITIES
Capital Expenditures -$11.10M -$21.10M
YoY Change -47.39% 21.26%
Acquisitions
YoY Change
Other Investing Activities $300.0K -$61.70M
YoY Change -100.49% -175.99%
Cash From Investing Activities -$10.83M -$82.75M
YoY Change -86.91% -229.79%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$48.70M -$45.42M
YoY Change 7.22% 7.2%
NET CHANGE
Cash From Operating Activities $33.48M $20.08M
Cash From Investing Activities -$10.83M -$82.75M
Cash From Financing Activities -$48.70M -$45.42M
Net Change In Cash -$26.05M -$108.1M
YoY Change -75.9% -336.9%
FREE CASH FLOW
Cash From Operating Activities $33.48M $20.08M
Capital Expenditures -$11.10M -$21.10M
Free Cash Flow $44.58M $41.18M
YoY Change 8.27% -1.11%

Facts In Submission

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ProceedsFromSaleOfEquitySecurities
13446000 USD
CY2021Q1 us-gaap Proceeds From Sale And Maturity Of Other Investments
ProceedsFromSaleAndMaturityOfOtherInvestments
819000 USD
CY2020Q1 us-gaap Proceeds From Sale And Maturity Of Other Investments
ProceedsFromSaleAndMaturityOfOtherInvestments
328000 USD
CY2021Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
11146000 USD
CY2020Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
21086000 USD
CY2021Q1 us-gaap Payments To Acquire Loans Receivable
PaymentsToAcquireLoansReceivable
997000 USD
CY2020Q1 us-gaap Payments To Acquire Loans Receivable
PaymentsToAcquireLoansReceivable
1803000 USD
CY2021Q1 us-gaap Proceeds From Collection Of Loans Receivable
ProceedsFromCollectionOfLoansReceivable
2138000 USD
CY2020Q1 us-gaap Proceeds From Collection Of Loans Receivable
ProceedsFromCollectionOfLoansReceivable
1943000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-10828000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-82749000 USD
CY2021Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
48200000 USD
CY2020Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
44940000 USD
CY2021Q1 us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
-502000 USD
CY2020Q1 us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
-481000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-48702000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-45421000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-26048000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-108093000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
161240000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
336739000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
135192000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
228646000 USD
CY2021Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
68000 USD
CY2020Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1333000 USD
CY2021Q1 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
17098000 USD
CY2020Q1 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
767000 USD
CY2021Q1 us-gaap Nature Of Operations
NatureOfOperations
Nature of Operations<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 two 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 two capacities, we earn a management fee calculated as a percentage of the direct and affiliated assumed premiums written by the Exchange.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 12, "Concentrations of Credit Risk". </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Coronavirus ("COVID-19") pandemic</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In March 2020, the outbreak of the coronavirus ("COVID-19") was declared a global pandemic. The uncertainty resulting from COVID-19 continues to evolve and the pandemic’s ultimate impact and duration remain uncertain at this time. The Exchange’s previously announced rate reductions that became effective in the second half of 2020 will likely continue to constrain the Exchange’s premium growth in the short-term which will impact our management fee revenue. </span></div>The economic conditions resulting from the COVID-19 pandemic may negatively impact the collectability of the Exchange's premiums receivable, however no significant impact has been noted through the date of this report. 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.
CY2021Q1 erie Revenue Performance Obligation Numberof Performance Obligations
RevenuePerformanceObligationNumberofPerformanceObligations
2 obligation
CY2021Q1 erie Revenue Performance Obligation Numberof Performance Obligations
RevenuePerformanceObligationNumberofPerformanceObligations
2 obligation
CY2021Q1 us-gaap Use Of Estimates
UseOfEstimates
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Use of estimates</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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>
CY2021Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
ReclassificationsCertain amounts previously reported have been reclassified for comparative purposes to conform to the current period’s presentation. "Federal income taxes recoverable" is now included in "Prepaid expenses and other current assets" in the Statements of Financial Position. “Equity in earnings (losses) of limited partnerships” is now included in “Net investment income” in the Statements of Operations. The reclassifications had no effect on previously reported net income.
CY2021Q1 erie Insurance Agency Management Fee Percent
InsuranceAgencyManagementFeePercent
0.25
CY2021Q1 erie Insurance Agency Management Fee Percent
InsuranceAgencyManagementFeePercent
0.25
CY2021Q1 erie Revenue Performance Obligation Numberof Performance Obligations
RevenuePerformanceObligationNumberofPerformanceObligations
2 obligation
CY2021Q1 erie Revenue Performance Obligation Numberof Performance Obligations
RevenuePerformanceObligationNumberofPerformanceObligations
2 obligation
CY2021Q1 erie Revenue Performance Obligation Numberof Performance Obligations
RevenuePerformanceObligationNumberofPerformanceObligations
2 obligation
CY2021Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
899942000 USD
CY2021Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
21767000 USD
CY2021Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
3387000 USD
CY2021Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
918322000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
898790000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
31569000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
2123000 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
928236000 USD
CY2021Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
16625000 USD
CY2021Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
16813000 USD
CY2021Q1 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
421401000 USD
CY2021Q1 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
433929000 USD
CY2021Q1 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost
187492000 USD
CY2021Q1 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
189327000 USD
CY2021Q1 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost
274424000 USD
CY2021Q1 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
278253000 USD
CY2021Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
899942000 USD
CY2021Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
918322000 USD
CY2021Q1 us-gaap Debt And Equity Securities Gain Loss
DebtAndEquitySecuritiesGainLoss
804000 USD
CY2020Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
1100000 USD
CY2021Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
1100000 USD
CY2020Q1 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
100000 USD
CY2020Q4 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
200000 USD
CY2021Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
9046000 USD
CY2020Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-3705000 USD
CY2021Q1 erie Interest And Dividend Income Operating And Equity Method Investment Dividends Or Distributions
InterestAndDividendIncomeOperatingAndEquityMethodInvestmentDividendsOrDistributions
17422000 USD
CY2020Q1 erie Interest And Dividend Income Operating And Equity Method Investment Dividends Or Distributions
InterestAndDividendIncomeOperatingAndEquityMethodInvestmentDividendsOrDistributions
4913000 USD
CY2021Q1 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
325000 USD
CY2020Q1 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
249000 USD
CY2021Q1 erie Net Investment Income And Income Loss From Equity Method Investments
NetInvestmentIncomeAndIncomeLossFromEquityMethodInvestments
17097000 USD
CY2020Q1 erie Net Investment Income And Income Loss From Equity Method Investments
NetInvestmentIncomeAndIncomeLossFromEquityMethodInvestments
4664000 USD
CY2020Q1 us-gaap Debt And Equity Securities Gain Loss
DebtAndEquitySecuritiesGainLoss
-10806000 USD
CY2021Q1 erie Debt Securities Availableforsale Sellbefore Recovery
DebtSecuritiesAvailableforsaleSellbeforeRecovery
0 USD
CY2020Q1 erie Debt Securities Availableforsale Sellbefore Recovery
DebtSecuritiesAvailableforsaleSellbeforeRecovery
2242000 USD
CY2021Q1 us-gaap Debt Securities Available For Sale Change In Present Value Expense Reversal
DebtSecuritiesAvailableForSaleChangeInPresentValueExpenseReversal
-87000 USD
CY2020Q1 us-gaap Debt Securities Available For Sale Change In Present Value Expense Reversal
DebtSecuritiesAvailableForSaleChangeInPresentValueExpenseReversal
641000 USD
CY2021Q1 erie Available For Sale Debt Securities Impairment Loss
AvailableForSaleDebtSecuritiesImpairmentLoss
-87000 USD
CY2020Q1 erie Available For Sale Debt Securities Impairment Loss
AvailableForSaleDebtSecuritiesImpairmentLoss
2883000 USD
CY2021Q1 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
0 USD
CY2020Q1 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
170000 USD
CY2021Q1 erie Available For Sale Debt Securities And Financing Receivables Impairment Loss
AvailableForSaleDebtSecuritiesAndFinancingReceivablesImpairmentLoss
-87000 USD
CY2020Q1 erie Available For Sale Debt Securities And Financing Receivables Impairment Loss
AvailableForSaleDebtSecuritiesAndFinancingReceivablesImpairmentLoss
3053000 USD
CY2021Q1 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
13260000 USD
CY2020Q1 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
10873000 USD
CY2021Q1 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
9206000 USD
CY2020Q1 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
9395000 USD
CY2021Q1 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
12569000 USD
CY2020Q1 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
12353000 USD
CY2021Q1 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
357000 USD
CY2020Q1 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
336000 USD
CY2021Q1 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-4027000 USD
CY2020Q1 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-3031000 USD
CY2021Q1 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
14281000 USD
CY2020Q1 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
11282000 USD
CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.205
CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.221
CY2020Q1 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.012
CY2021Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
481500000 USD
CY2020Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
494600000 USD

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