$UFCS
UNITED FIRE GROUP INC

2011 Q2 Form 10-Q Financial Statement

#000010119911000026 Filed on August 05, 2011

View on sec.gov

Income Statement

Concept 2011 Q2 2010 Q2
Revenue $181.8M $148.0M
YoY Change 22.83% 0.28%
Cost Of Revenue $135.8M $72.76M
YoY Change 86.66%
Gross Profit $45.99M $75.26M
YoY Change -38.89%
Gross Profit Margin 25.3% 50.84%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $43.73M $27.92M
YoY Change 56.62% 3002.44%
% of Gross Profit 95.08% 37.1%
Operating Expenses $212.8M $129.7M
YoY Change 64.07% -10.92%
Operating Profit -$166.8M -$54.44M
YoY Change 206.39%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$31.00M $18.34M
YoY Change -269.01% -260.88%
Income Tax -$13.08M $4.409M
% Of Pretax Income 24.04%
Net Earnings -$17.91M $13.93M
YoY Change -228.59% -362.85%
Net Earnings / Revenue -9.85% 9.41%
Basic Earnings Per Share -$0.69 $0.53
Diluted Earnings Per Share -$0.69 $0.53
COMMON SHARES
Basic Shares Outstanding 26.10M shares 26.36B shares
Diluted Shares Outstanding 26.10M shares

Balance Sheet

Concept 2011 Q2 2010 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $177.4M $156.8M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $24.40M $16.70M
YoY Change 46.11% 0.6%
LONG-TERM ASSETS
Property, Plant & Equipment $36.93M $21.80M
YoY Change 69.4% 20.44%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.867B $2.458B
YoY Change 16.67% 11.57%
Other Assets
YoY Change
Total Long-Term Assets $3.598B $3.040B
YoY Change 18.34% 8.97%
TOTAL ASSETS
Total Short-Term Assets $24.40M $16.70M
Total Long-Term Assets $3.598B $3.040B
Total Assets $3.622B $3.057B
YoY Change 18.5% 8.92%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $133.2M $79.50M
YoY Change 67.55% 1.66%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $133.2M $154.5M
YoY Change -13.79% 97.57%
LONG-TERM LIABILITIES
Long-Term Debt $82.90M $0.00
YoY Change
Other Long-Term Liabilities $15.60M
YoY Change
Total Long-Term Liabilities $98.50M $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $133.2M $154.5M
Total Long-Term Liabilities $98.50M $0.00
Total Liabilities $2.917B $2.351B
YoY Change 24.1% 9.18%
SHAREHOLDERS EQUITY
Retained Earnings $396.0M
YoY Change
Common Stock $218.5M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $704.8M $705.9M
YoY Change
Total Liabilities & Shareholders Equity $3.622B $3.057B
YoY Change 18.5% 8.92%

Cashflow Statement

Concept 2011 Q2 2010 Q2
OPERATING ACTIVITIES
Net Income -$17.91M $13.93M
YoY Change -228.59% -362.85%
Depreciation, Depletion And Amortization $43.73M $27.92M
YoY Change 56.62% 3002.44%
Cash From Operating Activities $9.500M $13.80M
YoY Change -31.16% -50.0%
INVESTING ACTIVITIES
Capital Expenditures $100.0K $600.0K
YoY Change -83.33% -137.5%
Acquisitions
YoY Change
Other Investing Activities -$200.0K -$600.0K
YoY Change -66.67% -93.75%
Cash From Investing Activities $0.00 $100.0K
YoY Change -100.0% -100.9%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.100M -1.200M
YoY Change -275.0% -103.95%
NET CHANGE
Cash From Operating Activities 9.500M 13.80M
Cash From Investing Activities 0.000 100.0K
Cash From Financing Activities 2.100M -1.200M
Net Change In Cash 11.60M 12.70M
YoY Change -8.66% -72.92%
FREE CASH FLOW
Cash From Operating Activities $9.500M $13.80M
Capital Expenditures $100.0K $600.0K
Free Cash Flow $9.400M $13.20M
YoY Change -28.79% -54.79%

Facts In Submission

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8477000 USD
us-gaap Proceeds From Annuities And Investment Certificates
ProceedsFromAnnuitiesAndInvestmentCertificates
71489000 USD
us-gaap Proceeds From Annuities And Investment Certificates
ProceedsFromAnnuitiesAndInvestmentCertificates
70669000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
23000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
139000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
316235000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
192888000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
709000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
1603000 USD
us-gaap Proceeds From Payments For Trading Securities
ProceedsFromPaymentsForTradingSecurities
-2104000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
79900000 USD
us-gaap Proceeds From Sale Maturity And Collection Of Shortterm Investments
ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments
1554000 USD
us-gaap Proceeds From Sale Maturity And Collection Of Shortterm Investments
ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments
3200000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
3402000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
21367000 USD
CY2010Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
21554000 USD
CY2011Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
36929000 USD
CY2011Q2 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
1124000 USD
CY2010Q2 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
2346000 USD
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
3777000 USD
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
5072000 USD
CY2010Q4 us-gaap Reinsurance Recoverables
ReinsuranceRecoverables
46731000 USD
CY2011Q2 us-gaap Reinsurance Recoverables
ReinsuranceRecoverables
124840000 USD
us-gaap Repayments Of Annuities And Investment Certificates
RepaymentsOfAnnuitiesAndInvestmentCertificates
57263000 USD
us-gaap Repayments Of Annuities And Investment Certificates
RepaymentsOfAnnuitiesAndInvestmentCertificates
55437000 USD
CY2010Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
415981000 USD
CY2011Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
396037000 USD
us-gaap Revenues
Revenues
325880000 USD
us-gaap Revenues
Revenues
293139000 USD
CY2010Q2 us-gaap Revenues
Revenues
148014000 USD
CY2011Q2 us-gaap Revenues
Revenues
181804000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
939000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
878000 USD
us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
8255000 shares
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
323597000 shares
CY2010Q4 us-gaap Stockholders Equity
StockholdersEquity
716424000 USD
CY2011Q2 us-gaap Stockholders Equity
StockholdersEquity
704773000 USD
CY2010Q4 us-gaap Trading Securities
TradingSecurities
12886000 USD
CY2011Q2 us-gaap Trading Securities
TradingSecurities
15058000 USD
CY2011Q2 us-gaap Trading Securities Cost
TradingSecuritiesCost
14763000 USD
CY2010Q4 us-gaap Trading Securities Cost
TradingSecuritiesCost
12322000 USD
CY2011Q2 us-gaap Unearned Premiums
UnearnedPremiums
302133000 USD
CY2010Q4 us-gaap Unearned Premiums
UnearnedPremiums
200341000 USD
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26395593000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26148438000 shares
CY2010Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26356353000 shares
CY2011Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26101842 shares
CY2011Q2 ufcs Accrued Expenses And Other Liabilities
AccruedExpensesAndOtherLiabilities
133217000 USD
CY2010Q4 ufcs Accrued Expenses And Other Liabilities
AccruedExpensesAndOtherLiabilities
78439000 USD
ufcs All Other Realized Gains
AllOtherRealizedGains
5531000 USD
CY2011Q2 ufcs All Other Realized Gains
AllOtherRealizedGains
1124000 USD
CY2010Q2 ufcs All Other Realized Gains
AllOtherRealizedGains
2463000 USD
ufcs All Other Realized Gains
AllOtherRealizedGains
3777000 USD
CY2010Q4 ufcs Goodwill And Intangible Assets
GoodwillAndIntangibleAssets
0 USD
CY2011Q2 ufcs Goodwill And Intangible Assets
GoodwillAndIntangibleAssets
31681000 USD
ufcs Increase Decrease In Accrued Expenses And Other Liabilities
IncreaseDecreaseInAccruedExpensesAndOtherLiabilities
25493000 USD
ufcs Increase Decrease In Accrued Expenses And Other Liabilities
IncreaseDecreaseInAccruedExpensesAndOtherLiabilities
-4377000 USD
ufcs Payments To Acquire Short Term And Other Investments
PaymentsToAcquireShortTermAndOtherInvestments
3308000 USD
ufcs Payments To Acquire Short Term And Other Investments
PaymentsToAcquireShortTermAndOtherInvestments
1706000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2011
dei Document Period End Date
DocumentPeriodEndDate
2011-06-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000101199
CY2011Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
25880210 shares
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
UNITED FIRE & CASUALTY CO
dei Trading Symbol
TradingSymbol
UFCS

Files In Submission

Name View Source Status
0000101199-11-000026-index-headers.html Edgar Link pending
0000101199-11-000026-index.html Edgar Link pending
0000101199-11-000026.txt Edgar Link pending
0000101199-11-000026-xbrl.zip Edgar Link pending
exhibit311063011.htm Edgar Link pending
exhibit312063011.htm Edgar Link pending
exhibit321063011.htm Edgar Link pending
exhibit322063011.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
form10q063011.pdf Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R3.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
ufcs-20110630.xml Edgar Link completed
ufcs-20110630.xsd Edgar Link pending
ufcs-20110630_cal.xml Edgar Link unprocessable
ufcs-20110630_def.xml Edgar Link unprocessable
ufcs-20110630_lab.xml Edgar Link unprocessable
ufcs-20110630_pre.xml Edgar Link unprocessable
ufcs-2011630x10q2.htm Edgar Link pending
ufglogo2010.jpg Edgar Link pending