Reconciliation of Shareholders' Equity

9 Months Ended

Sep. 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 September 30, 2011:

(in millions, except per share data)	Indemnity shareholders’ interest	Exchange noncontrolling interest	Erie Insurance 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 (loss)	143	(156)	(13	)
Other comprehensive income, net of tax:
Unrealized loss on securities	(2)	(13)	(15	)
Reclassification of unrealized gain on sale of EFL	(9)	–	(9	)
Other comprehensive loss, net of tax	(11)	(13)	(24	)
Reclassification of unrealized gain on sale of EFL, net of tax	9	–	9
Comprehensive income (loss)	141	(169)	(28	)
Purchase of treasury stock	(131)	–	(131	)
Dividends declared:
Class A $1.545 per share	(77)	–	(77	)
Class B $231.75 per share	0	–	0
Balance at September 30, 2011	$845	$5,253	$6,098