Shareholders' Equity and Noncontrolling Interest

3 Months Ended

Mar. 31, 2012

Shareholders' Equity and Noncontrolling Interest

Shareholders' Equity and Noncontrolling Interest

Note 11.  Shareholders’ Equity and Noncontrolling Interest

A reconciliation of the beginning and ending balances of shareholders’ equity and noncontrolling interest is presented as follows for the year ended December 31, 2011 and for the three months ended March 31, 2012:

	Erie Insurance Group
(in millions, except per share data)	Indemnity shareholder interest		Exchange noncontrolling interest		Erie Insurance Group
Balance at December 31, 2010	$912		$5,422		$6,334
Net income	169		99		268
Change in other comprehensive loss, net of tax	(52	)	(9	)	(61	)
Realized gain on sale of life affiliate, net of tax	8		–		8
Net purchase of treasury stock	(154	)	–		(154	)
Dividends declared:
Class A $2.0975 per share	(101	)	–		(101	)
Class B $314.625 per share	(1	)	–		(1	)
Balance at December 31, 2011	$781		$5,512		$6,293
Net income	36		318		354
Change in other comprehensive income, net of tax	2		70		72
Net purchase of treasury stock	(17	)	–		(17	)
Dividends declared:
Class A $0.5525 per share	(26	)	–		(26	)
Class B $82.875 per share	0		–		0
Balance at March 31, 2012	$776		$5,900		$6,676