Erie Indemnity (ERIE) FY2016 results: revenue $1.6 billion, up 6.1% on the year
Erie Indemnity Co. (ERIE) reported revenue of $1.6 billion for fiscal 2016, the year ended 31 December 2016, up 6.1% on the year before. Net income was $210 million, up 20.4%. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2017.
Revenue
$1.6 billion
+6.1% on the year
FY2009FY2016
Operating margin
18.4%
15.4% a year earlier
FY2009FY2016
Net income
$210 million
+20.4% on the year
FY2009FY2016
Diluted EPS
n/a
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
1,597
1,506
1,407
+6.1%
Operating income
294
233
223
+26.2%
Operating margin
18.4%
15.4%
15.8%
Interest expense
0.1
n/a
n/a
Pre-tax income
320
266
251
+20.2%
Income tax
110
91.6
83.8
+19.8%
Effective tax rate
34.3%
34.4%
33.3%
Net income
210
175
168
+20.4%
Net margin
13.2%
11.6%
11.9%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
254
217
n/a
+17.0%
Capital expenditure
25.2
12.6
19.5
+100.8%
Free cash flow
229
205
n/a
+11.9%
Free cash flow margin
14.4%
13.6%
n/a
Cash from investing
-137
0.6
n/a
Cash from financing
-111
-127
n/a
Depreciation and amortisation
15.1
15.9
15.7
-5.0%
Buybacks
0.0
0.0
19.7
Dividends paid
136
127
119
+7.2%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
817
770
703
+6.2%
Non-controlling interest
n/a
n/a
7,280
Debt
24.8
n/a
n/a
Other liabilities
707
638
n/a
+10.9%
Total liabilities and equity
1,549
1,407
1,319
+10.1%
Intangible assets
n/a
46.8
42.6
Investments
713
600
590
+18.9%
Cash and equivalents
189
183
91.7
+3.4%
Other assets
647
578
595
+11.9%
Total assets
1,549
1,407
1,319
+10.1%
10-K for the year ended 31 December 2016, filed 23 February 2017: the filing.