Mercury Insurance 2010 Annual Report Download - page 72
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MERCURY GENERAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Amounts in thousands)
December 31,
2010 2009
ASSETS
Investments, at fair value:
Fixed maturities trading (amortized cost $2,617,656; $2,673,079) ............ $2,652,280 $2,704,561
Equity securities trading (cost $336,757; $308,941) ....................... 359,606 286,131
Short-term investments (cost $143,378; $156,126) ........................ 143,371 156,165
Total investments .............................................. 3,155,257 3,146,857
Cash ................................................................. 181,388 185,505
Receivables:
Premiums ......................................................... 280,980 276,788
Accrued investment income .......................................... 36,885 37,405
Other ............................................................ 10,076 13,689
Total receivables ............................................... 327,941 327,882
Deferred policy acquisition costs .......................................... 170,579 175,866
Fixed assets, net ........................................................ 196,505 201,862
Current income taxes .................................................... 25,719 27,268
Deferred income taxes ................................................... 26,499 36,139
Goodwill ............................................................. 42,850 42,850
Other intangible assets, net ............................................... 60,124 66,823
Other assets ........................................................... 16,502 21,581
Total assets ................................................... $4,203,364 $4,232,633
LIABILITIES AND SHAREHOLDERS’ EQUITY
Losses and loss adjustment expenses ....................................... $1,034,205 $1,053,334
Unearned premiums .................................................... 833,379 844,540
Notes payable ......................................................... 267,210 271,397
Accounts payable and accrued expenses ..................................... 106,662 114,469
Other liabilities ........................................................ 167,093 177,947
Total liabilities ................................................ 2,408,549 2,461,687
Commitments and contingencies
Shareholders’ equity:
Common stock without par or stated value:
Authorized 70,000 shares; issued and outstanding 54,803; 54,777 ........ 74,188 72,589
Additional paid in capital ............................................ 78 0
Accumulated other comprehensive loss ................................. (740) (597)
Retained earnings .................................................. 1,721,289 1,698,954
Total shareholders’ equity ........................................ 1,794,815 1,770,946
Total liabilities and shareholders’ equity ............................ $4,203,364 $4,232,633
See accompanying notes to consolidated financial statements.
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