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Quarterly Results of Operations (unaudited) (Tables)
 12 Months Ended
Dec. 31, 2011
Quarterly Results of Operations (unaudited)  
Schedule of quarterly results of operations (unaudited)

 

 

 

 

Erie Insurance Group

 

 

 

Year ended December 31, 2011

 

(in millions, except per share data)

 

First
quarter

 

Second
quarter

 

Third
quarter

 

Fourth
quarter

 

Year

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$

1,365

 

$

1,245

 

$

796

 

$

1,418

 

$4,824

 

Benefits and expenses

 

953

 

1,419

 

1,101

 

993

 

4,466

 

Income (loss) from operations before income taxes and noncontrolling interest

 

412

 

(174

)

(305

)

425

 

358

 

Net income (loss)

 

274

 

(107

)

(180

)

281

 

268

 

Less: Net income (loss) attributable to noncontrolling interest in consolidated entity – Exchange

 

230

 

(159

)

(227

)

255

 

99

 

Net income attributable to Indemnity

 

$

44

 

$

52

 

$

47

 

$

26

 

$

169

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share (1)

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to Indemnity per share

 

 

 

 

 

 

 

 

 

 

 

Class A common stock – basic

 

$

0.88

 

$

1.05

 

$

0.97

 

$

0.55

 

$

3.45

 

Class A common stock – diluted

 

$

0.78

 

$

0.94

 

$

0.87

 

$

0.49

 

$

3.08

 

Class B common stock – basic and diluted

 

$

126.48

 

$

158.33

 

$

146.67

 

$

81.76

 

$

522.47

 

 

(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, 2010

 

(in millions, except per share data)

 

First

quarter

 

 Second

  quarter

 

 Third

 quarter

 

 Fourth

 quarter

 

Year

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$

1,216

 

$

916

 

$

1,357

 

$

1,401

 

$

4,890

 

Benefits and expenses

 

988

 

967

 

952

 

984

 

3,891

 

Income (loss) from operations before income taxes and noncontrolling interest

 

228

 

(51

)

405

 

417

 

999

 

Net income (loss)

 

162

 

(31

)

275

 

254

 

660

 

Less: Net income (loss) attributable to noncontrolling interest in consolidated entity – Exchange

 

115

 

(80

)

221

 

242

 

498

 

Net income attributable to Indemnity

 

$

47

 

$

49

 

$

54

 

$

12

 

$

162

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share (1)

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to Indemnity per share

 

 

 

 

 

 

 

 

 

 

 

Class A common stock – basic

 

$

0.92

 

$

0.96

 

$

1.05

 

$

0.25

 

$

3.18

 

Class A common stock – diluted

 

$

0.82

 

$

0.86

 

$

0.94

 

$

0.22

 

$

2.85

 

Class B common stock – basic and diluted

 

$

132.83

 

$

138.21

 

$

150.87

 

$

40.93

 

$

462.83

 

 

(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.