Reconciliation of Shareholders' Equity

6 Months Ended

Jun. 30, 2011

Reconciliation of Shareholders' Equity

Reconciliation of Shareholders' Equity

Note 11.  Reconciliation of Shareholders’ Equity

A reconciliation of shareholders’ equity follows for the year-to-date December 31, 2010 and June 30, 2011:

(in millions, except per share data)	Indemnity shareholders’			Exchange noncontrolling	Erie  Insurance
		interest		interest	Group
Balance at December 31, 2009		$902		$4,823	$5,725
Comprehensive income:
Net income		162		498	660
Other comprehensive income, net of tax:
Unrealized gains on securities		9		101	110
Reclassification of unrealized gain on sale of P&C affiliated subsidiaries		(15	)	–	(15	)
Postretirement plans:
Amortization of prior service cost		0		–	0
Amortization of net actuarial loss		2		–	2
Net actuarial loss during year		(6	)	–	(6	)
Loss due to plan changes during year		0		–	0
Curtailment/settlement loss arising during year		0		–	0
Postretirement plans		(4	)	–	(4	)
Other comprehensive (loss) income, net of tax		(10	)	101	91
Reclassification of unrealized gain on sale of P&C affiliated subsidiaries, net of tax		15		–	15
Comprehensive income		167		599	766
Purchase of treasury stock		(58	)	–	(58	)
Dividends declared:
Class A $1.995 per share		(99	)	–	(99	)
Class B $293.25 per share		0		–	0
Balance at December 31, 2010		$912		$5,422	$6,334
Comprehensive income:
Net income		96		71	167
Other comprehensive income, net of tax:
Unrealized (loss) gains on securities		(1	)	23	22
Reclassification of unrealized gain on sale of EFL		(9	)	–	(9	)
Other comprehensive (loss) income, net of tax		(10	)	23	13
Reclassification of unrealized gain on sale of EFL, net of tax		9		–	9
Comprehensive income		95		94	189
Purchase of treasury stock		(90	)	–	(90	)
Dividends declared:
Class A - $1.03 per share		(51	)	–	(51	)
Class B - $154.50 per share		0		–	0
Balance at June 30, 2011		$866		$5,516	$6,382