$SAFT
SAFETY INSURANCE GROUP INC

2011 Q4 Form 10-Q Financial Statement

#000110465911062109 Filed on November 08, 2011

View on sec.gov

Income Statement

Concept 2011 Q4 2011 Q3 2010 Q3
Revenue $169.4M $168.0M $154.4M
YoY Change 6.87% 8.81% 4.13%
Cost Of Revenue $111.5M $88.46M
YoY Change 26.1%
Gross Profit $56.49M $65.98M
YoY Change -14.38%
Gross Profit Margin 33.62% 42.72%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.400M $2.900M $3.100M
YoY Change 33.33% -6.45% 6.9%
% of Gross Profit 5.13% 4.7%
Operating Expenses $166.3M $157.0M $132.7M
YoY Change 18.45% 18.31% 6.76%
Operating Profit -$100.5M -$66.72M
YoY Change 50.64%
Interest Expense $0.00 $23.00K $22.00K
YoY Change 4.55%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $3.100M $11.01M $21.73M
YoY Change -82.87% -49.3% -9.48%
Income Tax -$1.700M $2.204M $6.258M
% Of Pretax Income -54.84% 20.01% 28.81%
Net Earnings $4.800M $8.810M $15.47M
YoY Change -63.08% -43.04% -9.02%
Net Earnings / Revenue 2.83% 5.24% 10.02%
Basic Earnings Per Share $0.31 $0.58 $1.03
Diluted Earnings Per Share $0.31 $0.58 $1.03
COMMON SHARES
Basic Shares Outstanding 15.19M shares 15.19M shares 15.02M shares
Diluted Shares Outstanding 15.20M shares 15.04M shares

Balance Sheet

Concept 2011 Q4 2011 Q3 2010 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $37.89M $44.27M $90.88M
Short-Term Investments
Other Short-Term Assets $14.00M $12.60M $11.90M
YoY Change 12.0% 5.88% -19.05%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $22.40M $24.80M $14.60M
YoY Change 27.27% 69.86% -0.68%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.122B $1.115B $1.077B
YoY Change 1.98% 3.49% 1.11%
Other Assets $0.00 $0.00
YoY Change -100.0%
Total Long-Term Assets $1.450B $1.464B $1.466B
YoY Change 1.99% -0.08% 1.73%
TOTAL ASSETS
Total Short-Term Assets $22.40M $24.80M $14.60M
Total Long-Term Assets $1.450B $1.464B $1.466B
Total Assets $1.472B $1.489B $1.480B
YoY Change 2.3% 0.61% 1.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $52.00M $53.60M $55.40M
YoY Change -4.06% -3.25% 0.73%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $22.40M $23.40M $18.50M
YoY Change 42.68% 26.49%
Total Long-Term Liabilities $22.40M $23.40M $18.50M
YoY Change 42.68% 26.49%
TOTAL LIABILITIES
Total Short-Term Liabilities $52.00M $53.60M $55.40M
Total Long-Term Liabilities $22.40M $23.40M $18.50M
Total Liabilities $816.2M $833.9M $820.7M
YoY Change 3.84% 1.61% -1.71%
SHAREHOLDERS EQUITY
Retained Earnings $518.9M $521.8M
YoY Change -3.1%
Common Stock $157.3M $156.2M
YoY Change 3.86%
Preferred Stock
YoY Change
Treasury Stock (at cost) $55.57M $55.57M
YoY Change 0.08%
Treasury Stock Shares 1.729M shares 1.729M shares
Shareholders Equity $656.3M $655.3M $659.4M
YoY Change
Total Liabilities & Shareholders Equity $1.472B $1.489B $1.480B
YoY Change 2.3% 0.61% 1.7%

Cashflow Statement

Concept 2011 Q4 2011 Q3 2010 Q3
OPERATING ACTIVITIES
Net Income $4.800M $8.810M $15.47M
YoY Change -63.08% -43.04% -9.02%
Depreciation, Depletion And Amortization $4.400M $2.900M $3.100M
YoY Change 33.33% -6.45% 6.9%
Cash From Operating Activities $19.00M $14.40M $28.60M
YoY Change -5.94% -49.65% -1.38%
INVESTING ACTIVITIES
Capital Expenditures -$1.600M -$700.0K -$500.0K
YoY Change 0.0% 40.0% 400.0%
Acquisitions
YoY Change
Other Investing Activities -$16.20M -$17.20M $29.90M
YoY Change -74.33% -157.53% 806.06%
Cash From Investing Activities -$17.80M -$18.00M $29.40M
YoY Change -72.49% -161.22% 818.75%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -7.600M -7.700M -7.100M
YoY Change 24.59% 8.45% -55.06%
NET CHANGE
Cash From Operating Activities 19.00M 14.40M 28.60M
Cash From Investing Activities -17.80M -18.00M 29.40M
Cash From Financing Activities -7.600M -7.700M -7.100M
Net Change In Cash -6.400M -11.30M 50.90M
YoY Change -87.35% -122.2% 210.37%
FREE CASH FLOW
Cash From Operating Activities $19.00M $14.40M $28.60M
Capital Expenditures -$1.600M -$700.0K -$500.0K
Free Cash Flow $20.60M $15.10M $29.10M
YoY Change -5.5% -48.11% 0.0%

Facts In Submission

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dei Document Period End Date
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dei Document Fiscal Year Focus
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dei Document Type
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dei Amendment Flag
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dei Entity Registrant Name
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SAFETY INSURANCE GROUP INC
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us-gaap Other Comprehensive Income Reclassification Adjustment For Sale Of Securities Included In Net Income Net Of Tax
OtherComprehensiveIncomeReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeNetOfTax
192000 USD
CY2011Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease
6601000 USD
CY2010Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease
6302000 USD
CY2011Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
4200000 USD
CY2010Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
3520000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
6801000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
9287000 USD
CY2011Q3 us-gaap Other Comprehensive Income Reclassification Adjustment For Sale Of Securities Included In Net Income Tax
OtherComprehensiveIncomeReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeTax
646000 USD
CY2010Q3 us-gaap Other Comprehensive Income Reclassification Adjustment For Sale Of Securities Included In Net Income Tax
OtherComprehensiveIncomeReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeTax
126000 USD
us-gaap Other Comprehensive Income Reclassification Adjustment For Sale Of Securities Included In Net Income Tax
OtherComprehensiveIncomeReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeTax
946000 USD
us-gaap Other Comprehensive Income Reclassification Adjustment For Sale Of Securities Included In Net Income Tax
OtherComprehensiveIncomeReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeTax
103000 USD
us-gaap Increase Decrease In Deferred Policy Acquisition Costs
IncreaseDecreaseInDeferredPolicyAcquisitionCosts
6683000 USD
us-gaap Increase Decrease In Loss And Loss Adjustment Expense Reserve
IncreaseDecreaseInLossAndLossAdjustmentExpenseReserve
6054000 USD
us-gaap Increase Decrease In Unearned Premiums
IncreaseDecreaseInUnearnedPremiums
39112000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-15267000 USD
us-gaap Increase Decrease In Reinsurance Payables
IncreaseDecreaseInReinsurancePayables
5393000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
7704000 USD
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
255905000 USD
us-gaap Payments To Acquire Available For Sale Securities Equity
PaymentsToAcquireAvailableForSaleSecuritiesEquity
12512000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
200650000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
74162000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Equity
ProceedsFromSaleOfAvailableForSaleSecuritiesEquity
6235000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2828000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
900000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
-4000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
22729000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
43000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-21876000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
168000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
18477000 USD
us-gaap Increase Decrease In Reinsurance Recoverable
IncreaseDecreaseInReinsuranceRecoverable
3285000 USD
us-gaap Increase Decrease In Prepaid Reinsurance Premiums
IncreaseDecreaseInPrepaidReinsurancePremiums
173000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-2290000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-852000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
21114000 USD
us-gaap Increase Decrease In Reinsurance Recoverable
IncreaseDecreaseInReinsuranceRecoverable
-8299000 USD
us-gaap Increase Decrease In Prepaid Reinsurance Premiums
IncreaseDecreaseInPrepaidReinsurancePremiums
-1806000 USD
us-gaap Increase Decrease In Deferred Policy Acquisition Costs
IncreaseDecreaseInDeferredPolicyAcquisitionCosts
7679000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
3892000 USD
us-gaap Increase Decrease In Loss And Loss Adjustment Expense Reserve
IncreaseDecreaseInLossAndLossAdjustmentExpenseReserve
26640000 USD
us-gaap Increase Decrease In Unearned Premiums
IncreaseDecreaseInUnearnedPremiums
40327000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-16353000 USD
us-gaap Increase Decrease In Reinsurance Payables
IncreaseDecreaseInReinsurancePayables
6280000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-2223000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
518000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
90000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
19573000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
5814000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-24779000 USD
CY2009Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
74470000 USD
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
215205000 USD
us-gaap Payments To Acquire Available For Sale Securities Equity
PaymentsToAcquireAvailableForSaleSecuritiesEquity
5874000 USD
us-gaap Proceeds From Sale Of Other Investments
ProceedsFromSaleOfOtherInvestments
68000 USD
us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
9196000 USD
us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
9227000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
4836000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
10159000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
174953000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
54932000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Equity
ProceedsFromSaleOfAvailableForSaleSecuritiesEquity
2079000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
803000 USD
us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
5060000 USD
us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
0 USD
us-gaap Proceeds From Sale Of Other Investments
ProceedsFromSaleOfOtherInvestments
94000 USD
us-gaap Gain Loss On Sale Of Other Investments
GainLossOnSaleOfOtherInvestments
-2702000 USD
us-gaap Gain Loss On Sale Of Other Investments
GainLossOnSaleOfOtherInvestments
-295000 USD
CY2010Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
90883000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
3975000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
16413000 USD
us-gaap Increase Decrease In Interest And Dividends Receivable
IncreaseDecreaseInInterestAndDividendsReceivable
851000 USD
us-gaap Increase Decrease In Interest And Dividends Receivable
IncreaseDecreaseInInterestAndDividendsReceivable
821000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
21015000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
31033000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
9000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-9000 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
0 USD

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