The following tables summarize the components of the Consolidated Statements of Operations by reportable business segment:



	Erie Insurance Group
(in millions)	Three months ended September 30, 2014
	Management operations		Property and casualty insurance operations		Life insurance operations			Investment operations			Eliminations			Consolidated
Premiums earned/life policy revenue			$	1,333	$	22					$	0		$	1,355
Net investment income								$	118		(3		)	115
Net realized investment losses								(85		)				(85		)
Net impairment losses recognized in earnings								(1		)				(1		)
Equity in earnings of limited partnerships								34						34
Management fee revenue	$	362									(362		)	—
Service agreement and other revenue	8				0									8
Total revenues	370		1,333		22			66			(365		)	1,426
Cost of management operations	308										(308		)	—
Insurance losses and loss expenses			908		28						(1		)	935
Policy acquisition and underwriting expenses			387		10						(56		)	341
Total benefits and expenses	308		1,295		38			—			(365		)	1,276
Income (loss) before income taxes	62		38		(16		)	66			—			150
Provision for income taxes	22		13		(5		)	12			—			42
Net income (loss)	$	40	$	25	$	(11	)	$	54		$	—		$	108



	Erie Insurance Group
(in millions)	Three months ended September 30, 2013
	Management operations		Property and casualty insurance operations		Life insurance operations			Investment operations			Eliminations			Consolidated
Premiums earned/life policy revenue			$	1,221	$	21					$	(1	)	$	1,241
Net investment income								$	111		(2		)	109
Net realized investment gains								191						191
Net impairment losses recognized in earnings								(9		)				(9		)
Equity in earnings of limited partnerships								37						37
Management fee revenue	$	333									(333		)	—
Service agreement and other revenue	8				0									8
Total revenues	341		1,221		21			330			(336		)	1,577
Cost of management operations	281										(281		)	—
Insurance losses and loss expenses			841		28						(1		)	868
Policy acquisition and underwriting expenses			356		9						(54		)	311
Total benefits and expenses	281		1,197		37			—			(336		)	1,179
Income (loss) before income taxes	60		24		(16		)	330			—			398
Provision for income taxes	21		8		(5		)	107			—			131
Net income (loss)	$	39	$	16	$	(11	)	$	223		$	—		$	267



	Erie Insurance Group
(in millions)	Nine months ended September 30, 2014
	Management operations		Property and casualty insurance operations			Life insurance operations			Investment operations			Eliminations			Consolidated
Premiums earned/life policy revenue			$	3,899		$	64					$	(1	)	$	3,962
Net investment income									$	346		(11		)	335
Net realized investment gains									104						104
Net impairment losses recognized in earnings									(1		)				(1		)
Equity in earnings of limited partnerships									111						111
Management fee revenue	$	1,047										(1,047		)	—
Service agreement and other revenue	23					1									24
Total revenues	1,070		3,899			65			560			(1,059		)	4,535
Cost of management operations	882											(882		)	—
Insurance losses and loss expenses			3,016			83						(4		)	3,095
Policy acquisition and underwriting expenses			1,132			28						(173		)	987
Total benefits and expenses	882		4,148			111			—			(1,059		)	4,082
Income (loss) before income taxes	188		(249		)	(46		)	560			—			453
Provision for income taxes	66		(87		)	(16		)	170			—			133
Net income (loss)	$	122	$	(162	)	$	(30	)	$	390		$	—		$	320



	Erie Insurance Group
(in millions)	Nine months ended September 30, 2013
	Management operations		Property and casualty insurance operations		Life insurance operations			Investment operations			Eliminations			Consolidated
Premiums earned/life policy revenue			$	3,573	$	60					$	(2	)	$	3,631
Net investment income								$	324		(8		)	316
Net realized investment gains								501						501
Net impairment losses recognized in earnings								(10		)				(10		)
Equity in earnings of limited partnerships								112						112
Management fee revenue	$	965									(965		)	—
Service agreement and other revenue	23				1									24
Total revenues	988		3,573		61			927			(975		)	4,574
Cost of management operations	820										(820		)	—
Insurance losses and loss expenses			2,495		80						(4		)	2,571
Policy acquisition and underwriting expenses			1,032		25						(151		)	906
Total benefits and expenses	820		3,527		105			—			(975		)	3,477
Income (loss) before income taxes	168		46		(44		)	927			—			1,097
Provision for income taxes	59		16		(15		)	303			—			363
Net income (loss)	$	109	$	30	$	(29	)	$	624		$	—		$	734