Quarterly Results of Operations (unaudited)

12 Months Ended

Dec. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results of Operations (unaudited)

Note 23.   Quarterly Results of Operations (unaudited)

	Erie Insurance Group
	Year ended December 31, 2014
(in millions, except per share data)	First quarter		Second quarter		Third quarter		Fourth quarter		Year
Revenues	$	1,511	$	1,598	$	1,426	$	1,589	$	6,124
Benefits and expenses	1,355		1,451		1,276		1,212		5,294
Income from operations before income taxes and noncontrolling interest	156		147		150		377		830
Net income	109		103		108		253		573
Less: Net income attributable to noncontrolling interest in consolidated entity – Exchange	63		54		61		227		405
Net income attributable to Indemnity	$	46	$	49	$	47	$	26	$	168
Earnings per share (1)
Net income attributable to Indemnity per share
Class A common stock – basic	$	0.99	$	1.05	$	1.01	$	0.54	$	3.59
Class A common stock – diluted	$	0.88	$	0.94	$	0.90	$	0.48	$	3.18
Class B common stock – basic	$	149	$	158	$	151	$	81	$	539
Class B common stock – diluted	$	149	$	158	$	151	$	81	$	538

(1) The cumulative sum of quarterly basic and diluted net income per share amounts may not equal total basic and diluted net income per share for the year due to differences in weighted average shares and equivalent shares outstanding for each of the periods presented.

	Erie Insurance Group
	Year ended December 31, 2013
(in millions, except per share data)	First quarter		Second   quarter		Third  quarter		Fourth  quarter		Year
Revenues	$	1,571	$	1,426	$	1,577	$	1,697	$	6,271
Benefits and expenses	1,135		1,163		1,179		1,227		4,704
Income from operations before income taxes and noncontrolling interest	436		263		398		470		1,567
Net income	290		177		267		314		1,048
Less: Net income attributable to noncontrolling interest in consolidated entity – Exchange	253		133		221		278		885
Net income attributable to Indemnity	$	37	$	44	$	46	$	36	$	163
Earnings per share (1)
Net income attributable to Indemnity per share
Class A common stock – basic	$	0.78	$	0.95	$	0.98	$	0.75	$	3.46
Class A common stock – diluted	$	0.69	$	0.84	$	0.87	$	0.67	$	3.08
Class B common stock – basic	$	117	$	142	$	147	$	113	$	520
Class B common stock – diluted	$	117	$	142	$	147	$	113	$	519

(1) The cumulative sum of quarterly basic and diluted net income per share amounts may not equal total basic and diluted net income per share for the year due to differences in weighted average shares and equivalent shares outstanding for each of the periods presented.