2022 Q1 Form 10-Q Financial Statement

#000092262122000027 Filed on April 28, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $3.009M $17.99M
YoY Change -83.27% 108.73%
Cost Of Revenue $587.8M $554.1M
YoY Change 6.08% 4.35%
Gross Profit $84.31M $76.10M
YoY Change 10.79% -11.2%
Gross Profit Margin 2801.99% 423.06%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $587.8M $554.1M
YoY Change 6.09% 4.34%
Operating Profit $84.31M $76.10M
YoY Change 10.8% -11.2%
Interest Expense $999.0K $1.009M
YoY Change -0.99% 33533.33%
% of Operating Profit 1.18% 1.33%
Other Income/Expense, Net $473.0K $17.99M
YoY Change -97.37% -295.63%
Pretax Income $86.80M $92.56M
YoY Change -6.22% 21.58%
Income Tax $18.18M $18.99M
% Of Pretax Income 20.94% 20.52%
Net Earnings $68.62M $73.57M
YoY Change -6.72% 24.0%
Net Earnings / Revenue 2280.46% 408.97%
Basic Earnings Per Share
Diluted Earnings Per Share $1.175M $1.260M
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $187.5M $152.0M
YoY Change 23.3% -42.29%
Cash & Equivalents $141.3M $135.2M
Short-Term Investments $46.16M $16.85M
Other Short-Term Assets $78.88M $62.00M
YoY Change 27.22% 5.08%
Inventory
Prepaid Expenses
Receivables $478.8M $481.5M
Other Receivables $0.00 $0.00
Total Short-Term Assets $751.3M $701.9M
YoY Change 7.04% -13.35%
LONG-TERM ASSETS
Property, Plant & Equipment $396.1M $282.0M
YoY Change 40.45% 8.88%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $955.2M $994.0M
YoY Change -3.9% 4319.35%
Other Assets $49.80M $44.27M
YoY Change 12.49% 35.71%
Total Long-Term Assets $1.473B $1.397B
YoY Change 5.39% 21.77%
TOTAL ASSETS
Total Short-Term Assets $751.3M $701.9M
Total Long-Term Assets $1.473B $1.397B
Total Assets $2.224B $2.099B
YoY Change 5.94% 7.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $186.4M $168.0M
YoY Change 10.94% 41.18%
Accrued Expenses $31.51M $31.00M
YoY Change 1.64% -24.39%
Deferred Revenue $34.87M $35.80M
YoY Change -2.59% -0.03%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $2.132M $2.053M
YoY Change 3.85% 2.65%
Total Short-Term Liabilities $601.3M $571.4M
YoY Change 5.23% 5.49%
LONG-TERM LIABILITIES
Long-Term Debt $91.18M $93.31M
YoY Change -2.29% -2.13%
Other Long-Term Liabilities $26.60M $17.06M
YoY Change 55.9% -12.2%
Total Long-Term Liabilities $117.8M $110.4M
YoY Change 6.71% -3.84%
TOTAL LIABILITIES
Total Short-Term Liabilities $601.3M $571.4M
Total Long-Term Liabilities $117.8M $110.4M
Total Liabilities $889.7M $891.0M
YoY Change -0.15% 6.0%
SHAREHOLDERS EQUITY
Retained Earnings $2.512B $2.419B
YoY Change 3.85% 1.18%
Common Stock $16.48M $16.50M
YoY Change -0.09% 0.05%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.334B $1.208B
YoY Change
Total Liabilities & Shareholders Equity $2.224B $2.099B
YoY Change 5.94% 7.23%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income $68.62M $73.57M
YoY Change -6.72% 24.0%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $23.55M $33.48M
YoY Change -29.65% 66.77%
INVESTING ACTIVITIES
Capital Expenditures -$15.46M -$11.10M
YoY Change 39.26% -47.39%
Acquisitions
YoY Change
Other Investing Activities $1.726M $300.0K
YoY Change 475.33% -100.49%
Cash From Investing Activities -$13.73M -$10.83M
YoY Change 26.82% -86.91%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$52.22M -$48.70M
YoY Change 7.22% 7.22%
NET CHANGE
Cash From Operating Activities $23.55M $33.48M
Cash From Investing Activities -$13.73M -$10.83M
Cash From Financing Activities -$52.22M -$48.70M
Net Change In Cash -$42.40M -$26.05M
YoY Change 62.76% -75.9%
FREE CASH FLOW
Cash From Operating Activities $23.55M $33.48M
Capital Expenditures -$15.46M -$11.10M
Free Cash Flow $39.01M $44.58M
YoY Change -12.5% 8.27%

Facts In Submission

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ProceedsFromSaleOfEquitySecurities
8984000 USD
CY2021Q1 erie Proceeds From Sale Of Equity Securities
ProceedsFromSaleOfEquitySecurities
16326000 USD
CY2022Q1 us-gaap Proceeds From Sale And Maturity Of Other Investments
ProceedsFromSaleAndMaturityOfOtherInvestments
371000 USD
CY2021Q1 us-gaap Proceeds From Sale And Maturity Of Other Investments
ProceedsFromSaleAndMaturityOfOtherInvestments
819000 USD
CY2022Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
15458000 USD
CY2021Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
11146000 USD
CY2022Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
30000 USD
CY2021Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 USD
CY2022Q1 us-gaap Payments To Acquire Loans Receivable
PaymentsToAcquireLoansReceivable
5195000 USD
CY2021Q1 us-gaap Payments To Acquire Loans Receivable
PaymentsToAcquireLoansReceivable
997000 USD
CY2022Q1 us-gaap Proceeds From Collection Of Loans Receivable
ProceedsFromCollectionOfLoansReceivable
2220000 USD
CY2021Q1 us-gaap Proceeds From Collection Of Loans Receivable
ProceedsFromCollectionOfLoansReceivable
2138000 USD
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-13732000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-10828000 USD
CY2022Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
51693000 USD
CY2021Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
48200000 USD
CY2022Q1 us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
-525000 USD
CY2021Q1 us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
-502000 USD
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-52218000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-48702000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-42397000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-26048000 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
183702000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
161240000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
141305000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
135192000 USD
CY2022Q1 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
17673000 USD
CY2021Q1 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
17098000 USD
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1008000 USD
CY2021Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
68000 USD
CY2022Q1 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 and pandemic conditions have created an inflationary environment which may impact estimated loss reserves and future premium rates of the Exchange. The uncertainty resulting from COVID-19 and subsequent resulting conditions continues to evolve and the ultimate impact and duration remains 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 impact on the economy and financial markets.
CY2022Q1 erie Revenue Performance Obligation Numberof Performance Obligations
RevenuePerformanceObligationNumberofPerformanceObligations
2 obligation
CY2022Q1 erie Revenue Performance Obligation Numberof Performance Obligations
RevenuePerformanceObligationNumberofPerformanceObligations
2 obligation
CY2022Q1 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>
CY2022Q1 erie Insurance Agency Management Fee Percent
InsuranceAgencyManagementFeePercent
0.25
CY2022Q1 erie Insurance Agency Management Fee Percent
InsuranceAgencyManagementFeePercent
0.25
CY2022Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P4Y
CY2022Q1 erie Revenue Performance Obligation Numberof Performance Obligations
RevenuePerformanceObligationNumberofPerformanceObligations
2 obligation
CY2022Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
12700000 USD
CY2021Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
13300000 USD
CY2022Q1 erie Revenue Performance Obligation Numberof Performance Obligations
RevenuePerformanceObligationNumberofPerformanceObligations
2 obligation
CY2021Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
938279000 USD
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
12861000 USD
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
5055000 USD
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
946085000 USD
CY2022Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
46013000 USD
CY2022Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
46104000 USD
CY2022Q1 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
401680000 USD
CY2022Q1 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
392696000 USD
CY2022Q1 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost
204733000 USD
CY2022Q1 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
200244000 USD
CY2022Q1 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost
297158000 USD
CY2022Q1 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
284276000 USD
CY2022Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
949584000 USD
CY2022Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
923320000 USD
CY2022Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
1000000 USD
CY2021Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
1000000 USD
CY2022Q1 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
200000 USD
CY2021Q4 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
100000 USD
CY2022Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
2775000 USD
CY2021Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
9046000 USD
CY2022Q1 erie Interest And Dividend Income Operating And Income Loss From Equity Method Investments
InterestAndDividendIncomeOperatingAndIncomeLossFromEquityMethodInvestments
10906000 USD
CY2021Q1 erie Interest And Dividend Income Operating And Income Loss From Equity Method Investments
InterestAndDividendIncomeOperatingAndIncomeLossFromEquityMethodInvestments
17422000 USD
CY2022Q1 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
402000 USD
CY2021Q1 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
325000 USD
CY2022Q1 erie Net Investment Income And Income Loss From Equity Method Investments
NetInvestmentIncomeAndIncomeLossFromEquityMethodInvestments
10504000 USD
CY2021Q1 erie Net Investment Income And Income Loss From Equity Method Investments
NetInvestmentIncomeAndIncomeLossFromEquityMethodInvestments
17097000 USD
CY2022Q1 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
491000 USD
CY2021Q1 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
1923000 USD
CY2022Q1 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
2571000 USD
CY2021Q1 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
440000 USD
CY2022Q1 us-gaap Debt Securities Available For Sale Gain Loss
DebtSecuritiesAvailableForSaleGainLoss
-2080000 USD
CY2021Q1 us-gaap Debt Securities Available For Sale Gain Loss
DebtSecuritiesAvailableForSaleGainLoss
1483000 USD
CY2022Q1 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
-5201000 USD
CY2021Q1 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
-679000 USD
CY2022Q1 us-gaap Gain Loss On Sale Of Other Investments
GainLossOnSaleOfOtherInvestments
2000 USD
CY2021Q1 us-gaap Gain Loss On Sale Of Other Investments
GainLossOnSaleOfOtherInvestments
0 USD
CY2022Q1 us-gaap Debt And Equity Securities Gain Loss
DebtAndEquitySecuritiesGainLoss
-7279000 USD
CY2021Q1 us-gaap Debt And Equity Securities Gain Loss
DebtAndEquitySecuritiesGainLoss
804000 USD
CY2022Q1 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
-5201000 USD
CY2021Q1 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
-679000 USD
CY2022Q1 us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
-280000 USD
CY2021Q1 us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
-289000 USD
CY2022Q1 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
-4921000 USD
CY2021Q1 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
-390000 USD
CY2022Q1 erie Debt Securities Availableforsale Sellbefore Recovery
DebtSecuritiesAvailableforsaleSellbeforeRecovery
70000 USD
CY2021Q1 erie Debt Securities Availableforsale Sellbefore Recovery
DebtSecuritiesAvailableforsaleSellbeforeRecovery
0 USD
CY2022Q1 us-gaap Debt Securities Available For Sale Change In Present Value Expense Reversal
DebtSecuritiesAvailableForSaleChangeInPresentValueExpenseReversal
146000 USD
CY2021Q1 us-gaap Debt Securities Available For Sale Change In Present Value Expense Reversal
DebtSecuritiesAvailableForSaleChangeInPresentValueExpenseReversal
-87000 USD
CY2022Q1 erie Available For Sale Debt Securities And Financing Receivables Impairment Loss Recovery Net
AvailableForSaleDebtSecuritiesAndFinancingReceivablesImpairmentLossRecoveryNet
-216000 USD
CY2021Q1 erie Available For Sale Debt Securities And Financing Receivables Impairment Loss Recovery Net
AvailableForSaleDebtSecuritiesAndFinancingReceivablesImpairmentLossRecoveryNet
87000 USD
CY2022Q1 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
12560000 USD
CY2021Q1 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
13260000 USD
CY2022Q1 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
9941000 USD
CY2021Q1 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
9206000 USD
CY2022Q1 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
13639000 USD
CY2021Q1 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
12569000 USD
CY2022Q1 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
361000 USD
CY2021Q1 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
357000 USD
CY2022Q1 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-1830000 USD
CY2021Q1 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-4027000 USD
CY2022Q1 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
11053000 USD
CY2021Q1 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
14281000 USD
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.209
CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.205
CY2022Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
478800000 USD
CY2021Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
479100000 USD

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