Erie Indemnity (ERIE) FY2013 results: revenue $1.3 billion, down 76.5% on the year
Erie Indemnity Co. (ERIE) reported revenue of $1.3 billion for fiscal 2013, the year ended 31 December 2013, down 76.5% on the year before. Net income was $163 million, up 1.6%. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2014.
Revenue
$1.3 billion
-76.5% on the year
FY2008FY2013
Operating margin
16.1%
16.3% a year earlier
FY2008FY2013
Net income
$163 million
+1.6% on the year
FY2008FY2013
Diluted EPS
n/a
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
1,297
5,512
4,824
-76.5%
Operating income
209
899
358
-76.7%
Operating margin
16.1%
16.3%
7.4%
Pre-tax income
247
899
358
-72.6%
Income tax
84.0
280
90.0
-70.0%
Effective tax rate
34.1%
31.1%
25.1%
Net income
163
160
169
+1.6%
Net margin
12.5%
2.9%
3.5%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
n/a
577
360
Capital expenditure
10.8
33.0
11.0
-67.4%
Free cash flow
n/a
544
349
Free cash flow margin
n/a
9.9%
7.2%
Depreciation and amortisation
15.0
n/a
n/a
Buybacks
31.7
70.0
155
-54.7%
Dividends paid
83.6
229
102
-63.5%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
734
642
781
+14.3%
Non-controlling interest
6,816
6,149
5,512
+10.8%
Other liabilities
9,126
8,650
8,055
+5.5%
Total liabilities and equity
16,676
15,441
14,348
+8.0%
Intangible assets
40.6
n/a
n/a
Securities held for sale or to maturity
8,688
8,159
7,840
+6.5%
Cash and equivalents
49.0
11.6
185
+322.4%
Other assets
7,898
7,270
6,323
+8.6%
Total assets
16,676
15,441
14,348
+8.0%
10-K for the year ended 31 December 2013, filed 27 February 2014: the filing.