2021 Q2 Form 10-Q Financial Statement

#000092262121000036 Filed on July 29, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $16.42M $7.686M
YoY Change 113.61% -7.27%
Cost Of Revenue $595.0M $565.8M
YoY Change 5.15% 2.67%
Gross Profit $85.07M $91.20M
YoY Change -6.73% -5.59%
Gross Profit Margin 518.12% 1186.57%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $595.0M $565.8M
YoY Change 5.15% 2.67%
Operating Profit $85.07M $91.19M
YoY Change -6.72% -5.61%
Interest Expense $1.039M $2.000K
YoY Change 51850.0% -99.26%
% of Operating Profit 1.22% 0.0%
Other Income/Expense, Net $16.42M $11.55M
YoY Change 42.11% 19.7%
Pretax Income $99.90M $102.5M
YoY Change -2.52% -3.35%
Income Tax $20.87M $20.51M
% Of Pretax Income 20.89% 20.01%
Net Earnings $79.03M $81.98M
YoY Change -3.6% -6.58%
Net Earnings / Revenue 481.36% 1066.58%
Basic Earnings Per Share
Diluted Earnings Per Share $1.353M $1.404M
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $176.9M $285.1M
YoY Change -37.96% -28.62%
Cash & Equivalents $156.0M $257.7M
Short-Term Investments $20.86M $27.41M
Other Short-Term Assets $59.57M $61.00M
YoY Change -2.34% 45.24%
Inventory
Prepaid Expenses
Receivables $504.0M $506.7M
Other Receivables $0.00 $0.00
Total Short-Term Assets $746.8M $859.2M
YoY Change -13.08% -8.32%
LONG-TERM ASSETS
Property, Plant & Equipment $280.4M $266.0M
YoY Change 5.41% 33.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.010B $15.46M
YoY Change 6430.04% -49.04%
Other Assets $48.65M $32.70M
YoY Change 48.77% -63.49%
Total Long-Term Assets $1.417B $1.224B
YoY Change 15.79% 28.48%
TOTAL ASSETS
Total Short-Term Assets $746.8M $859.2M
Total Long-Term Assets $1.417B $1.224B
Total Assets $2.164B $2.083B
YoY Change 3.88% 10.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $150.3M $127.0M
YoY Change 18.38% 12.39%
Accrued Expenses $62.69M $71.00M
YoY Change -11.7% 12.7%
Deferred Revenue $35.74M $36.63M
YoY Change -2.41% 3.54%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $2.064M $1.998M
YoY Change 3.3% 4.39%
Total Short-Term Liabilities $591.9M $589.1M
YoY Change 0.46% 10.04%
LONG-TERM LIABILITIES
Long-Term Debt $92.80M $94.85M
YoY Change -2.17% -2.08%
Other Long-Term Liabilities $17.87M $14.90M
YoY Change 19.95% -54.53%
Total Long-Term Liabilities $110.7M $109.7M
YoY Change 0.84% -15.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $591.9M $589.1M
Total Long-Term Liabilities $110.7M $109.7M
Total Liabilities $918.5M $888.7M
YoY Change 3.36% 7.57%
SHAREHOLDERS EQUITY
Retained Earnings $2.450B $2.428B
YoY Change 0.9% 5.07%
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 $1.245B $1.194B
YoY Change
Total Liabilities & Shareholders Equity $2.164B $2.083B
YoY Change 3.88% 10.22%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income $79.03M $81.98M
YoY Change -3.6% -6.58%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $94.22M $107.2M
YoY Change -12.11% 18.85%
INVESTING ACTIVITIES
Capital Expenditures -$17.10M -$16.30M
YoY Change 4.89% -3.55%
Acquisitions
YoY Change
Other Investing Activities -$7.614M -$16.30M
YoY Change -53.29% 246.81%
Cash From Investing Activities -$24.71M -$32.70M
YoY Change -24.43% 51.39%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -48.71M -45.50M
YoY Change 7.06% 7.31%
NET CHANGE
Cash From Operating Activities 94.22M 107.2M
Cash From Investing Activities -24.71M -32.70M
Cash From Financing Activities -48.71M -45.50M
Net Change In Cash 20.80M 29.00M
YoY Change -28.28% 10.69%
FREE CASH FLOW
Cash From Operating Activities $94.22M $107.2M
Capital Expenditures -$17.10M -$16.30M
Free Cash Flow $111.3M $123.5M
YoY Change -9.86% 15.31%

Facts In Submission

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DeferredCompensationUnderRabbiTrustPlans
0 USD
CY2020Q2 erie Distributions From Rabbi Trust Plans
DistributionsFromRabbiTrustPlans
0 USD
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
1194139000 USD
erie Proceeds From Insurance Agency Management Fees Received
ProceedsFromInsuranceAgencyManagementFeesReceived
985317000 USD
erie Proceeds From Insurance Agency Management Fees Received
ProceedsFromInsuranceAgencyManagementFeesReceived
937962000 USD
erie Administrative Services Reimbursements Received
AdministrativeServicesReimbursementsReceived
301509000 USD
erie Administrative Services Reimbursements Received
AdministrativeServicesReimbursementsReceived
279689000 USD
us-gaap Proceeds From Fees Received
ProceedsFromFeesReceived
11981000 USD
us-gaap Proceeds From Fees Received
ProceedsFromFeesReceived
13108000 USD
erie Proceeds From Interest And Dividends Received And Equity Method Investment Dividends Or Distributions
ProceedsFromInterestAndDividendsReceivedAndEquityMethodInvestmentDividendsOrDistributions
18735000 USD
erie Proceeds From Interest And Dividends Received And Equity Method Investment Dividends Or Distributions
ProceedsFromInterestAndDividendsReceivedAndEquityMethodInvestmentDividendsOrDistributions
18749000 USD
us-gaap Payments For Commissions
PaymentsForCommissions
464550000 USD
us-gaap Payments For Commissions
PaymentsForCommissions
448622000 USD
erie Payments For Agent Bonuses
PaymentsForAgentBonuses
115678000 USD
erie Payments For Agent Bonuses
PaymentsForAgentBonuses
100185000 USD
us-gaap Payments To Employees
PaymentsToEmployees
113452000 USD
us-gaap Payments To Employees
PaymentsToEmployees
100360000 USD
erie Paymentsfor Other Labor Related Expenses
PaymentsforOtherLaborRelatedExpenses
16567000 USD
erie Paymentsfor Other Labor Related Expenses
PaymentsforOtherLaborRelatedExpenses
15962000 USD
us-gaap Payments For Other Operating Activities
PaymentsForOtherOperatingActivities
126373000 USD
us-gaap Payments For Other Operating Activities
PaymentsForOtherOperatingActivities
133422000 USD
erie Administrative Services Expenses Paid
AdministrativeServicesExpensesPaid
310617000 USD
erie Administrative Services Expenses Paid
AdministrativeServicesExpensesPaid
298046000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
40503000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
25625000 USD
us-gaap Interest Paid Net
InterestPaidNet
2082000 USD
us-gaap Interest Paid Net
InterestPaidNet
4000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
127720000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
127282000 USD
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
168671000 USD
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
198192000 USD
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
28408000 USD
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
44407000 USD
us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
605000 USD
us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
622000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
59203000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
68977000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
99788000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
58722000 USD
erie Proceeds From Sale Of Equity Securities
ProceedsFromSaleOfEquitySecurities
29856000 USD
erie Proceeds From Sale Of Equity Securities
ProceedsFromSaleOfEquitySecurities
35684000 USD
us-gaap Proceeds From Sale And Maturity Of Other Investments
ProceedsFromSaleAndMaturityOfOtherInvestments
869000 USD
us-gaap Proceeds From Sale And Maturity Of Other Investments
ProceedsFromSaleAndMaturityOfOtherInvestments
577000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
28197000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
37426000 USD
us-gaap Payments To Acquire Loans Receivable
PaymentsToAcquireLoansReceivable
2930000 USD
us-gaap Payments To Acquire Loans Receivable
PaymentsToAcquireLoansReceivable
2313000 USD
us-gaap Proceeds From Collection Of Loans Receivable
ProceedsFromCollectionOfLoansReceivable
3584000 USD
us-gaap Proceeds From Collection Of Loans Receivable
ProceedsFromCollectionOfLoansReceivable
3577000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-35511000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-115423000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
96400000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
89881000 USD
erie Revenue Performance Obligation Numberof Performance Obligations
RevenuePerformanceObligationNumberofPerformanceObligations
2 obligation
erie Revenue Performance Obligation Numberof Performance Obligations
RevenuePerformanceObligationNumberofPerformanceObligations
2 obligation
us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
-1011000 USD
us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
-979000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-97411000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-90860000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-5202000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-79001000 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
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
156038000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
257738000 USD
erie Transfer Between Investment Categories
TransferBetweenInvestmentCategories
0 USD
erie Transfer Between Investment Categories
TransferBetweenInvestmentCategories
4188000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
977000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
3440000 USD
us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
13024000 USD
us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
814000 USD
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>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. 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.
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>
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.
erie Insurance Agency Management Fee Percent
InsuranceAgencyManagementFeePercent
0.25
erie Insurance Agency Management Fee Percent
InsuranceAgencyManagementFeePercent
0.25
erie Revenue Performance Obligation Numberof Performance Obligations
RevenuePerformanceObligationNumberofPerformanceObligations
2 obligation
CY2021Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P4Y
CY2021Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
10600000 USD
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
23900000 USD
CY2020Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
10300000 USD
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
23400000 USD
erie Revenue Performance Obligation Numberof Performance Obligations
RevenuePerformanceObligationNumberofPerformanceObligations
2 obligation
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1249000 USD
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2542 shares
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
491
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost
270558000 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
276092000 USD
CY2021Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
915034000 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
936798000 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
20580000 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
20856000 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
429579000 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
442409000 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost
194317000 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
197441000 USD
CY2021Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
915034000 USD
CY2021Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
23634000 USD
CY2021Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1870000 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
936798000 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
CY2021Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
1100000 USD
CY2020Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
1100000 USD
CY2021Q2 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
CY2021Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
6151000 USD
CY2020Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-2329000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
15197000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-6034000 USD
CY2021Q2 erie Interest And Dividend Income Operating And Equity Method Investment Dividends Or Distributions
InterestAndDividendIncomeOperatingAndEquityMethodInvestmentDividendsOrDistributions
13992000 USD
CY2020Q2 erie Interest And Dividend Income Operating And Equity Method Investment Dividends Or Distributions
InterestAndDividendIncomeOperatingAndEquityMethodInvestmentDividendsOrDistributions
5357000 USD
erie Interest And Dividend Income Operating And Equity Method Investment Dividends Or Distributions
InterestAndDividendIncomeOperatingAndEquityMethodInvestmentDividendsOrDistributions
31414000 USD
erie Interest And Dividend Income Operating And Equity Method Investment Dividends Or Distributions
InterestAndDividendIncomeOperatingAndEquityMethodInvestmentDividendsOrDistributions
10270000 USD
CY2021Q2 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
342000 USD
CY2020Q2 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
313000 USD
us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
667000 USD
us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
562000 USD
CY2021Q2 erie Net Investment Income And Income Loss From Equity Method Investments
NetInvestmentIncomeAndIncomeLossFromEquityMethodInvestments
13650000 USD
CY2020Q2 erie Net Investment Income And Income Loss From Equity Method Investments
NetInvestmentIncomeAndIncomeLossFromEquityMethodInvestments
5044000 USD
erie Net Investment Income And Income Loss From Equity Method Investments
NetInvestmentIncomeAndIncomeLossFromEquityMethodInvestments
30747000 USD
erie Net Investment Income And Income Loss From Equity Method Investments
NetInvestmentIncomeAndIncomeLossFromEquityMethodInvestments
9708000 USD
CY2021Q2 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
1075000 USD
CY2020Q2 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
1721000 USD
us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
2998000 USD
us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
2795000 USD
CY2021Q2 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
678000 USD
CY2020Q2 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
1366000 USD
us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
1118000 USD
us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
1825000 USD
CY2021Q2 us-gaap Debt Securities Available For Sale Gain Loss
DebtSecuritiesAvailableForSaleGainLoss
397000 USD
CY2020Q2 us-gaap Debt Securities Available For Sale Gain Loss
DebtSecuritiesAvailableForSaleGainLoss
355000 USD
us-gaap Debt Securities Available For Sale Gain Loss
DebtSecuritiesAvailableForSaleGainLoss
1880000 USD
us-gaap Debt Securities Available For Sale Gain Loss
DebtSecuritiesAvailableForSaleGainLoss
970000 USD
CY2021Q2 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
2371000 USD
CY2020Q2 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
6170000 USD
us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
1692000 USD
us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
-5252000 USD
CY2021Q2 us-gaap Gain Loss On Sale Of Other Investments
GainLossOnSaleOfOtherInvestments
1000 USD
CY2020Q2 us-gaap Gain Loss On Sale Of Other Investments
GainLossOnSaleOfOtherInvestments
1000 USD
us-gaap Gain Loss On Sale Of Other Investments
GainLossOnSaleOfOtherInvestments
1000 USD
us-gaap Gain Loss On Sale Of Other Investments
GainLossOnSaleOfOtherInvestments
2000 USD
CY2021Q2 us-gaap Debt And Equity Securities Gain Loss
DebtAndEquitySecuritiesGainLoss
2769000 USD
CY2020Q2 us-gaap Debt And Equity Securities Gain Loss
DebtAndEquitySecuritiesGainLoss
6526000 USD
us-gaap Debt And Equity Securities Gain Loss
DebtAndEquitySecuritiesGainLoss
3573000 USD
us-gaap Debt And Equity Securities Gain Loss
DebtAndEquitySecuritiesGainLoss
-4280000 USD
CY2021Q2 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
2371000 USD
CY2020Q2 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
6170000 USD
us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
1692000 USD
us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
-5252000 USD
CY2021Q2 us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
128000 USD
CY2020Q2 us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
1357000 USD
us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
-293000 USD
us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
-2157000 USD
CY2021Q2 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
2243000 USD
CY2020Q2 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
4813000 USD
us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
1985000 USD
us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
-3095000 USD
CY2021Q2 erie Debt Securities Availableforsale Sellbefore Recovery
DebtSecuritiesAvailableforsaleSellbeforeRecovery
0 USD
CY2020Q2 erie Debt Securities Availableforsale Sellbefore Recovery
DebtSecuritiesAvailableforsaleSellbeforeRecovery
0 USD
erie Debt Securities Availableforsale Sellbefore Recovery
DebtSecuritiesAvailableforsaleSellbeforeRecovery
0 USD
erie Debt Securities Availableforsale Sellbefore Recovery
DebtSecuritiesAvailableforsaleSellbeforeRecovery
2242000 USD
CY2021Q2 us-gaap Debt Securities Available For Sale Change In Present Value Expense Reversal
DebtSecuritiesAvailableForSaleChangeInPresentValueExpenseReversal
1000 USD
CY2020Q2 us-gaap Debt Securities Available For Sale Change In Present Value Expense Reversal
DebtSecuritiesAvailableForSaleChangeInPresentValueExpenseReversal
17000 USD
us-gaap Debt Securities Available For Sale Change In Present Value Expense Reversal
DebtSecuritiesAvailableForSaleChangeInPresentValueExpenseReversal
-86000 USD
us-gaap Debt Securities Available For Sale Change In Present Value Expense Reversal
DebtSecuritiesAvailableForSaleChangeInPresentValueExpenseReversal
658000 USD
CY2021Q2 erie Available For Sale Debt Securities Impairment Loss Recovery
AvailableForSaleDebtSecuritiesImpairmentLossRecovery
1000 USD
CY2020Q2 erie Available For Sale Debt Securities Impairment Loss Recovery
AvailableForSaleDebtSecuritiesImpairmentLossRecovery
17000 USD
erie Available For Sale Debt Securities Impairment Loss Recovery
AvailableForSaleDebtSecuritiesImpairmentLossRecovery
-86000 USD
erie Available For Sale Debt Securities Impairment Loss Recovery
AvailableForSaleDebtSecuritiesImpairmentLossRecovery
2900000 USD
CY2021Q2 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
0 USD
CY2020Q2 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
0 USD
us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
0 USD
us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
170000 USD
CY2021Q2 erie Available For Sale Debt Securities And Financing Receivables Impairment Loss Recovery Net
AvailableForSaleDebtSecuritiesAndFinancingReceivablesImpairmentLossRecoveryNet
1000 USD
CY2020Q2 erie Available For Sale Debt Securities And Financing Receivables Impairment Loss Recovery Net
AvailableForSaleDebtSecuritiesAndFinancingReceivablesImpairmentLossRecoveryNet
17000 USD
erie Available For Sale Debt Securities And Financing Receivables Impairment Loss Recovery Net
AvailableForSaleDebtSecuritiesAndFinancingReceivablesImpairmentLossRecoveryNet
-86000 USD
erie Available For Sale Debt Securities And Financing Receivables Impairment Loss Recovery Net
AvailableForSaleDebtSecuritiesAndFinancingReceivablesImpairmentLossRecoveryNet
3070000 USD
CY2021Q2 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
13260000 USD
CY2020Q2 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
10874000 USD
us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
26520000 USD
us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
21747000 USD
CY2021Q2 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
9206000 USD
CY2020Q2 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
9394000 USD
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
18412000 USD
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
18789000 USD
CY2021Q2 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
12568000 USD
CY2020Q2 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
12353000 USD
us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
25137000 USD
us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
24706000 USD
CY2021Q2 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
357000 USD
CY2020Q2 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
335000 USD
us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
714000 USD
us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
671000 USD
CY2021Q2 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-4026000 USD
CY2020Q2 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-3031000 USD
us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-8053000 USD
us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-6062000 USD
CY2021Q2 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
14281000 USD
CY2020Q2 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
11281000 USD
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
28562000 USD
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
22563000 USD
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.209
CY2020Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.200
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.207
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.209
CY2020Q2 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.009
CY2021Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
504000000.0 USD
CY2020Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
494600000 USD

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