Erie Indemnity (ERIE) FY2014 results: revenue $1.4 billion, up 8.5% on the year
Erie Indemnity Co. (ERIE) reported revenue of $1.4 billion for fiscal 2014, the year ended 31 December 2014, up 8.5% on the year before. Net income was $168 million, up 3.0%. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2015.
Revenue
$1.4 billion
+8.5% on the year
FY2008FY2014
Operating margin
15.8%
16.1% a year earlier
FY2008FY2014
Net income
$168 million
+3.0% on the year
FY2008FY2014
Diluted EPS
n/a
FY2008FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
1,407
1,297
5,512
+8.5%
Operating income
223
209
899
+6.5%
Operating margin
15.8%
16.1%
16.3%
Pre-tax income
251
247
899
+1.9%
Income tax
83.8
84.0
280
-0.3%
Effective tax rate
33.3%
34.1%
31.1%
Net income
168
163
160
+3.0%
Net margin
11.9%
12.5%
2.9%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
n/a
n/a
577
Capital expenditure
19.5
10.8
33.0
+81.1%
Free cash flow
n/a
n/a
544
Free cash flow margin
n/a
n/a
9.9%
Depreciation and amortisation
15.7
15.0
n/a
+4.7%
Buybacks
19.7
31.7
70.0
-37.9%
Dividends paid
119
83.6
229
+41.7%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
703
734
642
-4.2%
Non-controlling interest
7,280
6,816
6,149
+6.8%
Other liabilities
n/a
9,126
8,650
Total liabilities and equity
1,319
16,676
15,441
-92.1%
Intangible assets
42.6
40.6
n/a
+4.9%
Investments
590
n/a
n/a
Securities held for sale or to maturity
n/a
8,688
8,159
Cash and equivalents
91.7
49.0
11.6
+87.1%
Other assets
595
7,898
7,270
-92.5%
Total assets
1,319
16,676
15,441
-92.1%
10-K for the year ended 31 December 2014, filed 26 February 2015: the filing.