Mercury Insurance 2009 Annual Report Download - page 80
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MERCURY GENERAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in thousands, except per share data)
Year Ended December 31,
2009 2008 2007
Revenues:
Net premiums earned .................................... $2,625,133 $2,808,839 $2,993,877
Net investment income ................................... 144,949 151,280 158,911
Net realized investment gains (losses) ....................... 346,444 (550,520) 20,808
Other ................................................. 4,967 4,597 5,154
Total revenues ...................................... 3,121,493 2,414,196 3,178,750
Expenses:
Losses and loss adjustment expenses ........................ 1,782,233 2,060,409 2,036,644
Policy acquisition costs ................................... 543,307 624,854 659,671
Other operating expenses ................................. 217,683 174,828 158,810
Interest ................................................ 6,729 4,966 8,589
Total expenses ...................................... 2,549,952 2,865,057 2,863,714
Income (loss) before income taxes .......................... 571,541 (450,861) 315,036
Income tax expense (benefit) .................................. 168,469 (208,742) 77,204
Net income (loss) ....................................... $ 403,072 $ (242,119) $ 237,832
Net income (loss) per share:
Basic ................................................. $ 7.36 $ (4.42) $ 4.35
Diluted ................................................ $ 7.32 $ (4.42) $ 4.34
See accompanying notes to consolidated financial statements.
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