Erie Indemnity (ERIE) FY2015 results: revenue $1.5 billion, up 7.0% on the year
Erie Indemnity Co. (ERIE) reported revenue of $1.5 billion for fiscal 2015, the year ended 31 December 2015, up 7.0% on the year before. Net income was $175 million, up 4.3%. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2016.
Revenue
$1.5 billion
+7.0% on the year
FY2008FY2015
Operating margin
15.4%
15.8% a year earlier
FY2008FY2015
Net income
$175 million
+4.3% on the year
FY2008FY2015
Diluted EPS
n/a
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
1,506
1,407
1,297
+7.0%
Operating income
233
223
209
+4.4%
Operating margin
15.4%
15.8%
16.1%
Pre-tax income
266
251
247
+6.0%
Income tax
91.6
83.8
84.0
+9.3%
Effective tax rate
34.4%
33.3%
34.1%
Net income
175
168
163
+4.3%
Net margin
11.6%
11.9%
12.5%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
217
n/a
n/a
Capital expenditure
12.6
19.5
10.8
-35.5%
Free cash flow
205
n/a
n/a
Free cash flow margin
13.6%
n/a
n/a
Cash from investing
0.6
n/a
n/a
Cash from financing
-127
n/a
n/a
Depreciation and amortisation
15.9
15.7
15.0
+1.3%
Buybacks
0.0
19.7
31.7
Dividends paid
127
119
83.6
+7.0%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
770
703
734
+9.5%
Non-controlling interest
n/a
7,280
6,816
Other liabilities
638
n/a
9,126
Total liabilities and equity
1,407
1,319
16,676
+6.7%
Intangible assets
46.8
42.6
40.6
+9.8%
Investments
600
590
n/a
+1.7%
Securities held for sale or to maturity
n/a
n/a
8,688
Cash and equivalents
183
91.7
49.0
+99.3%
Other assets
578
595
7,898
-2.9%
Total assets
1,407
1,319
16,676
+6.7%
10-K for the year ended 31 December 2015, filed 25 February 2016: the filing.