ERIE INDEMNITY CO
For the period ended Dec 31, 2023. Filed Feb 26, 2024.
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FY2023 · Filed Feb 26, 2024
ERIE$272.09+0.6%Stored close · as of Nov 10, 2026
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Statements of Financial Position - December 31, 202 and
STATEMENTS OF FINANCIAL POSITION
At December 31, 2023 and 2022
| 2023 | 2022 | |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents (includes restricted cash of $12,542 and $11,932, respectively) | $144,055 | $142,090 |
| Available-for-sale securities | 82,017 | 24,267 |
| Receivables from Erie Insurance Exchange and affiliates, net | 625,338 | 524,937 |
| Prepaid expenses and other current assets | 69,321 | 79,201 |
| Accrued investment income | 9,458 | 8,301 |
| Total current assets | 930,189 | 778,796 |
| Available-for-sale securities, net | 879,224 | 870,394 |
| Equity securities | 84,253 | 72,560 |
| Fixed assets, net | 442,610 | 413,874 |
| Agent loans, net | 58,434 | 60,537 |
| Defined benefit pension plan | 34,320 | 0 |
| Other assets, net | 42,934 | 43,295 |
| Total assets | $2,471,964 | $2,239,456 |
| Liabilities and shareholders' equity | ||
| Current liabilities: | ||
| Commissions payable | $353,709 | $300,028 |
| Agent incentive compensation | 68,077 | 95,166 |
| Accounts payable and accrued liabilities | 175,622 | 165,915 |
| Dividends payable | 59,377 | 55,419 |
| Contract liability | 41,210 | 36,547 |
| Deferred executive compensation | 10,982 | 12,036 |
| Total current liabilities | 708,977 | 665,111 |
| Defined benefit pension plans | 26,260 | 51,224 |
| Contract liability | 19,910 | 17,895 |
| Deferred executive compensation | 20,936 | 13,724 |
| Deferred income taxes, net | 11,481 | 14,075 |
| Other long-term liabilities | 21,565 | 29,019 |
| Total liabilities | 809,129 | 791,048 |
| Shareholders' equity | ||
| Class A common stock, stated value $0.0292 per share; 74,996,930 shares authorized; 68,299,200 shares issued; 46,189,068 shares outstanding | 1,992 | 1,992 |
| Class B common stock, convertible at a rate of 2,400 Class A shares for one Class B share, stated value $70 per share; 3,070 shares authorized; 2,542 shares issued and outstanding | 178 | 178 |
| Additional paid-in-capital | 16,466 | 16,481 |
| Accumulated other comprehensive loss | (13,400) | (7,414) |
| Retained earnings | 2,803,689 | 2,583,261 |
| Total contributed capital and retained earnings | 2,808,925 | 2,594,498 |
| Treasury stock, at cost; 22,110,132 shares held | (1,169,165) | (1,168,949) |
| Deferred compensation | 23,075 | 22,859 |
| Total shareholders' equity | 1,662,835 | 1,448,408 |
| Total liabilities and shareholders' equity | $2,471,964 | $2,239,456 |
See accompanying notes to Financial Statements.
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