Erie Indemnity (ERIE) FY2017 results: revenue $1.7 billion, up 6.0% on the year
Erie Indemnity Co. (ERIE) reported revenue of $1.7 billion for fiscal 2017, the year ended 31 December 2017, up 6.0% on the year before. Net income was $197 million, down 6.4%, and diluted earnings per share $3.76. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2018.
Revenue
$1.7 billion
+6.0% on the year
FY2010FY2017
Operating margin
17.2%
18.4% a year earlier
FY2010FY2017
Net income
$197 million
-6.4% on the year
FY2010FY2017
Diluted EPS
$3.76
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
1,692
1,597
1,506
+6.0%
Operating income
290
294
233
-1.1%
Operating margin
17.2%
18.4%
15.4%
Interest expense
1.2
0.1
n/a
+1,125.7%
Pre-tax income
316
320
266
-1.4%
Income tax
119
110
91.6
+8.2%
Effective tax rate
37.6%
34.3%
34.4%
Net income
197
210
175
-6.4%
Net margin
11.6%
13.2%
11.6%
Diluted EPS
$3.76
n/a
n/a
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
197
254
217
-22.5%
Capital expenditure
28.9
25.2
12.6
+14.8%
Free cash flow
168
229
205
-26.6%
Free cash flow margin
9.9%
14.4%
13.6%
Cash from investing
-74.7
-137
0.6
Cash from financing
-95.8
-111
-127
Depreciation and amortisation
14.8
15.1
15.9
-2.0%
Buybacks
n/a
0.0
0.0
Dividends paid
146
136
127
+7.2%
Diluted shares, weighted
52m
n/a
n/a
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
857
817
770
+4.9%
Debt
74.7
24.8
n/a
+201.7%
Other liabilities
734
707
638
+3.7%
Total liabilities and equity
1,666
1,549
1,407
+7.5%
Intangible assets
n/a
n/a
46.8
Investments
759
713
600
+6.4%
Cash and equivalents
216
189
183
+14.1%
Other assets
691
647
578
+6.9%
Total assets
1,666
1,549
1,407
+7.5%
10-K for the year ended 31 December 2017, filed 22 February 2018: the filing.