Erie Indemnity (ERIE) FY2012 results: revenue $5.5 billion, up 14.3% on the year
Erie Indemnity Co. (ERIE) reported revenue of $5.5 billion for fiscal 2012, the year ended 31 December 2012, up 14.3% on the year before. Net income was $160 million, down 5.3%. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2013.
Revenue
$5.5 billion
+14.3% on the year
FY2008FY2012
Operating margin
16.3%
7.4% a year earlier
FY2008FY2012
Net income
$160 million
-5.3% on the year
FY2008FY2012
Diluted EPS
n/a
FY2008FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
5,512
4,824
4,890
+14.3%
Operating income
899
358
999
+151.1%
Operating margin
16.3%
7.4%
20.4%
Pre-tax income
899
358
999
+151.1%
Income tax
280
90.0
339
+211.1%
Effective tax rate
31.1%
25.1%
33.9%
Net income
160
169
162
-5.3%
Net margin
2.9%
3.5%
3.3%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
577
360
721
+60.3%
Capital expenditure
33.0
11.0
33.0
+200.0%
Free cash flow
544
349
688
+55.9%
Free cash flow margin
9.9%
7.2%
14.1%
Cash from investing
n/a
n/a
-405
Cash from financing
n/a
n/a
-120
Buybacks
70.0
155
57.0
-54.8%
Dividends paid
229
102
98.0
+124.5%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
642
781
912
-17.8%
Non-controlling interest
6,149
5,512
5,422
+11.6%
Other liabilities
8,650
8,055
8,010
+7.4%
Total liabilities and equity
15,441
14,348
14,344
+7.6%
Securities held for sale or to maturity
8,159
7,840
7,543
+4.1%
Cash and equivalents
11.6
185
430
-93.7%
Other assets
7,270
6,323
6,371
+15.0%
Total assets
15,441
14,348
14,344
+7.6%
10-K for the year ended 31 December 2012, filed 26 February 2013: the filing.