2011 Q4 Form 10-Q Financial Statement

#000010119911000039 Filed on November 07, 2011

View on sec.gov

Income Statement

Concept 2011 Q4 2011 Q3 2010 Q3
Revenue $191.6M $187.6M $147.9M
YoY Change 27.7% 26.82% -1.86%
Cost Of Revenue $120.9M $89.31M
YoY Change 35.32%
Gross Profit $66.71M $58.59M
YoY Change 13.86%
Gross Profit Margin 35.57% 39.61%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.000M $43.02M $28.49M
YoY Change 328.57% 51.0% 3065.67%
% of Gross Profit 64.49% 48.63%
Operating Expenses $169.7M $198.0M $146.4M
YoY Change 25.42% 35.25% -13.93%
Operating Profit -$131.3M -$87.81M
YoY Change 49.52%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $21.82M -$10.47M $1.492M
YoY Change 48.41% -802.01% -108.02%
Income Tax $4.900M -$5.698M -$1.431M
% Of Pretax Income 22.46% -95.91%
Net Earnings $16.89M -$4.776M $2.923M
YoY Change 46.88% -263.39% -128.66%
Net Earnings / Revenue 8.82% -2.55% 1.98%
Basic Earnings Per Share $0.66 -$0.19 $0.11
Diluted Earnings Per Share $0.66 -$0.19 $0.11
COMMON SHARES
Basic Shares Outstanding 25.50M shares 25.72M shares 26.28M shares
Diluted Shares Outstanding 25.72M shares

Balance Sheet

Concept 2011 Q4 2011 Q3 2010 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $144.5M $154.5M $147.8M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $26.70M $26.90M $20.40M
YoY Change 50.0% 31.86% -17.74%
LONG-TERM ASSETS
Property, Plant & Equipment $45.64M $45.04M $21.70M
YoY Change 111.77% 107.58% 6.37%
Goodwill
YoY Change
Intangibles $15.71M
YoY Change
Long-Term Investments $2.908B $2.867B $2.533B
YoY Change 17.12% 13.21% 9.67%
Other Assets
YoY Change
Total Long-Term Assets $3.592B $3.578B $3.096B
YoY Change 20.16% 15.56% 5.1%
TOTAL ASSETS
Total Short-Term Assets $26.70M $26.90M $20.40M
Total Long-Term Assets $3.592B $3.578B $3.096B
Total Assets $3.619B $3.605B $3.117B
YoY Change 20.33% 15.67% 4.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $138.2M $129.8M $77.10M
YoY Change 76.28% 68.35% 4.61%
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 $138.2M $129.8M $154.9M
YoY Change 76.28% -16.2% -4.79%
LONG-TERM LIABILITIES
Long-Term Debt $45.00M $53.00M $0.00
YoY Change
Other Long-Term Liabilities $15.60M $15.60M
YoY Change
Total Long-Term Liabilities $60.60M $68.60M $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $138.2M $129.8M $154.9M
Total Long-Term Liabilities $60.60M $68.60M $0.00
Total Liabilities $2.923B $2.919B $2.389B
YoY Change 27.58% 22.19% 4.33%
SHAREHOLDERS EQUITY
Retained Earnings $400.5M $387.4M
YoY Change -3.73%
Common Stock $213.1M $212.6M
YoY Change -4.65%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $696.1M $685.5M $727.4M
YoY Change
Total Liabilities & Shareholders Equity $3.619B $3.605B $3.117B
YoY Change 20.33% 15.67% 4.9%

Cashflow Statement

Concept 2011 Q4 2011 Q3 2010 Q3
OPERATING ACTIVITIES
Net Income $16.89M -$4.776M $2.923M
YoY Change 46.88% -263.39% -128.66%
Depreciation, Depletion And Amortization $3.000M $43.02M $28.49M
YoY Change 328.57% 51.0% 3065.67%
Cash From Operating Activities $19.80M $13.80M $12.80M
YoY Change 32.89% 7.81% -14.67%
INVESTING ACTIVITIES
Capital Expenditures -$8.500M -$5.600M -$1.500M
YoY Change 1316.67% 273.33% -53.13%
Acquisitions
YoY Change
Other Investing Activities -$18.70M -$18.60M -$31.90M
YoY Change -119.58% -41.69% -16.27%
Cash From Investing Activities -$27.20M -$24.20M -$33.40M
YoY Change -128.66% -27.54% -19.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.600M -12.50M 11.50M
YoY Change -96.65% -208.7% -76.81%
NET CHANGE
Cash From Operating Activities 19.80M 13.80M 12.80M
Cash From Investing Activities -27.20M -24.20M -33.40M
Cash From Financing Activities -2.600M -12.50M 11.50M
Net Change In Cash -10.00M -22.90M -9.100M
YoY Change -130.96% 151.65% -139.06%
FREE CASH FLOW
Cash From Operating Activities $19.80M $13.80M $12.80M
Capital Expenditures -$8.500M -$5.600M -$1.500M
Free Cash Flow $28.30M $19.40M $14.30M
YoY Change 82.58% 35.66% -21.43%

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119158000 USD
CY2011Q3 us-gaap Premiums Earned Net
PremiumsEarnedNet
158704000 USD
us-gaap Premiums Earned Net
PremiumsEarnedNet
425118000 USD
us-gaap Premiums Earned Net
PremiumsEarnedNet
350548000 USD
CY2011Q3 us-gaap Premiums Receivable Allowance For Doubtful Accounts
PremiumsReceivableAllowanceForDoubtfulAccounts
976000 USD
CY2010Q4 us-gaap Premiums Receivable Allowance For Doubtful Accounts
PremiumsReceivableAllowanceForDoubtfulAccounts
1001000 USD
CY2010Q4 us-gaap Premiums Receivable At Carrying Value
PremiumsReceivableAtCarryingValue
124459000 USD
CY2011Q3 us-gaap Premiums Receivable At Carrying Value
PremiumsReceivableAtCarryingValue
185987000 USD
CY2010Q4 us-gaap Prepaid Reinsurance Premiums
PrepaidReinsurancePremiums
1586000 USD
CY2011Q3 us-gaap Prepaid Reinsurance Premiums
PrepaidReinsurancePremiums
7301000 USD
us-gaap Proceeds From Annuities And Investment Certificates
ProceedsFromAnnuitiesAndInvestmentCertificates
111621000 USD
us-gaap Proceeds From Annuities And Investment Certificates
ProceedsFromAnnuitiesAndInvestmentCertificates
128257000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
54000 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
323859000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
438472000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
1050000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
2553000 USD
us-gaap Proceeds From Payments For Trading Securities
ProceedsFromPaymentsForTradingSecurities
-835000 USD
us-gaap Proceeds From Payments For Trading Securities
ProceedsFromPaymentsForTradingSecurities
-1604000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
0 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
4385000 USD
us-gaap Proceeds From Sale Maturity And Collection Of Shortterm Investments
ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments
4583000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
21871000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
3402000 USD
CY2010Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
21554000 USD
CY2011Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
45044000 USD
CY2010Q3 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
1322000 USD
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
4996000 USD
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
6394000 USD
CY2011Q3 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
1219000 USD
CY2010Q4 us-gaap Reinsurance Recoverables
ReinsuranceRecoverables
46731000 USD
CY2011Q3 us-gaap Reinsurance Recoverables
ReinsuranceRecoverables
126559000 USD
us-gaap Repayments Of Annuities And Investment Certificates
RepaymentsOfAnnuitiesAndInvestmentCertificates
86507000 USD
us-gaap Repayments Of Annuities And Investment Certificates
RepaymentsOfAnnuitiesAndInvestmentCertificates
81936000 USD
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
29900000 USD
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
0 USD
CY2010Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
415981000 USD
CY2011Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
387419000 USD
CY2010Q3 us-gaap Revenues
Revenues
147904000 USD
us-gaap Revenues
Revenues
441043000 USD
us-gaap Revenues
Revenues
513454000 USD
CY2011Q3 us-gaap Revenues
Revenues
187574000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1295000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1384000 USD
us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
8255000 shares
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
701140000 shares
CY2010Q4 us-gaap Stockholders Equity
StockholdersEquity
716424000 USD
CY2011Q3 us-gaap Stockholders Equity
StockholdersEquity
685457000 USD
CY2010Q4 us-gaap Trading Securities
TradingSecurities
12886000 USD
CY2011Q3 us-gaap Trading Securities
TradingSecurities
13916000 USD
CY2011Q3 us-gaap Trading Securities Cost
TradingSecuritiesCost
14079000 USD
CY2010Q4 us-gaap Trading Securities Cost
TradingSecuritiesCost
12322000 USD
CY2011Q3 us-gaap Unearned Premiums
UnearnedPremiums
300291000 USD
CY2010Q4 us-gaap Unearned Premiums
UnearnedPremiums
200341000 USD
CY2011Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25722572 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26356431 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26004923 shares
CY2010Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26279382 shares
CY2011Q3 ufcs Accrued Expenses And Other Liabilities
AccruedExpensesAndOtherLiabilities
129773000 USD
CY2010Q4 ufcs Accrued Expenses And Other Liabilities
AccruedExpensesAndOtherLiabilities
78439000 USD
CY2010Q3 ufcs All Other Realized Gains
AllOtherRealizedGains
1322000 USD
ufcs All Other Realized Gains
AllOtherRealizedGains
6853000 USD
CY2011Q3 ufcs All Other Realized Gains
AllOtherRealizedGains
1219000 USD
ufcs All Other Realized Gains
AllOtherRealizedGains
4996000 USD
ufcs Changes In Stockholders Equity Accounts Excluding Net Income Loss
ChangesInStockholdersEquityAccountsExcludingNetIncomeLoss
-14087000 USD
CY2010Q4 ufcs Goodwill And Intangible Assets
GoodwillAndIntangibleAssets
0 USD
CY2011Q3 ufcs Goodwill And Intangible Assets
GoodwillAndIntangibleAssets
31531000 USD
ufcs Increase Decrease In Accrued Expenses And Other Liabilities
IncreaseDecreaseInAccruedExpensesAndOtherLiabilities
-6174000 USD
ufcs Increase Decrease In Accrued Expenses And Other Liabilities
IncreaseDecreaseInAccruedExpensesAndOtherLiabilities
21795000 USD
ufcs Payments To Acquire Short Term And Other Investments
PaymentsToAcquireShortTermAndOtherInvestments
2907000 USD
ufcs Payments To Acquire Short Term And Other Investments
PaymentsToAcquireShortTermAndOtherInvestments
4708000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2011
dei Document Period End Date
DocumentPeriodEndDate
2011-09-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000101199
CY2011Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
25502667 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
0000101199-11-000039-index-headers.html Edgar Link pending
0000101199-11-000039-index.html Edgar Link pending
0000101199-11-000039.txt Edgar Link pending
0000101199-11-000039-xbrl.zip Edgar Link pending
exhibit311093011.htm Edgar Link pending
exhibit312093011.htm Edgar Link pending
exhibit321093011.htm Edgar Link pending
exhibit322093011.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
form10q093011.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-20110930.xml Edgar Link completed
ufcs-20110930.xsd Edgar Link pending
ufcs-20110930_cal.xml Edgar Link unprocessable
ufcs-20110930_def.xml Edgar Link unprocessable
ufcs-20110930_lab.xml Edgar Link unprocessable
ufcs-20110930_pre.xml Edgar Link unprocessable
ufcs-2011930x10q3.htm Edgar Link pending
ufglogo2010.jpg Edgar Link pending