XML 23 R4.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Income and Comprehensive Income - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenues      
Net premiums earned (includes affiliated reinsurance of $212,591,341, $192,861,276 and $204,708,630 - see note 3) $ 776,015,201 $ 742,040,339 $ 756,078,400
Investment income, net of investment expenses 31,125,631 29,504,466 29,514,955
Installment payment fees 2,416,873 3,063,097 4,134,749
Lease income 430,800 434,089 443,750
Net investment gains (includes $382,602, $572,106 and $147,236 accumulated other comprehensive income reclassification) 6,477,286 2,777,919 21,984,617
Equity in earnings of Donegal Financial Services Corporation 0 0 295,000
Total revenues 816,465,791 777,819,910 812,451,471
Expenses      
Net losses and loss expenses (includes affiliated reinsurance of $131,367,599, $87,374,791 and $103,218,679 - see note 3) 520,709,542 459,764,293 506,387,664
Amortization of deferred policy acquisition costs 128,733,000 119,072,000 122,443,000
Other underwriting expenses 129,367,893 125,862,651 114,561,741
Policyholder dividends 5,198,515 7,394,310 8,978,406
Interest 895,605 1,196,406 1,579,299
Other, net 1,222,728 1,257,747 1,420,331
Total expenses 786,127,283 714,547,407 755,370,441
Income before income tax expense 30,338,508 63,272,503 57,081,030
Income tax expense (includes $80,346, $120,142 and $30,920 income tax expense from reclassification items) 5,084,334 10,457,251 9,929,286
Net income 25,254,174 52,815,252 47,151,744
Statements of Comprehensive Income      
Net income 25,254,174 52,815,252 47,151,744
Unrealized (loss) gain on securities:      
Unrealized holding (loss) gain arising during the period, net of income tax (benefit) expense of ($2,008,078), $2,944,892 and $3,947,082 (7,544,805) 11,078,406 14,848,545
Reclassification adjustment for gains included in net income, net of income tax expense of $80,346, $120,142 and $30,920 (302,256) (451,964) (116,316)
Other comprehensive (loss) income (7,847,061) 10,626,442 14,732,229
Comprehensive income $ 17,407,113 $ 63,441,694 $ 61,883,973
Class A Common Stock [Member]      
Basic earnings per common share:      
Basic (in dollars per share) $ 0.83 $ 1.84 $ 1.68
Diluted earnings per common share:      
Diluted (in dollars per share) 0.83 1.83 1.67
Class B Common Stock [Member]      
Basic earnings per common share:      
Basic (in dollars per share) 0.74 1.65 1.51
Diluted earnings per common share:      
Diluted (in dollars per share) $ 0.74 $ 1.65 $ 1.51