Mercury Insurance 2010 Annual Report Download - page 73
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MERCURY GENERAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in thousands, except per share data)
Year Ended December 31,
2010 2009 2008
Revenues:
Net premiums earned .................................... $2,566,685 $2,625,133 $2,808,839
Net investment income ................................... 143,814 144,949 151,280
Net realized investment gains (losses) ....................... 57,089 346,444 (550,520)
Other ................................................. 8,297 4,967 4,597
Total revenues ...................................... 2,775,885 3,121,493 2,414,196
Expenses:
Losses and loss adjustment expenses ........................ 1,825,766 1,782,233 2,060,409
Policy acquisition costs ................................... 505,565 543,307 624,854
Other operating expenses ................................. 255,358 217,683 174,828
Interest ................................................ 6,806 6,729 4,966
Total expenses ...................................... 2,593,495 2,549,952 2,865,057
Income (loss) before income taxes .......................... 182,390 571,541 (450,861)
Income tax expense (benefit) .................................. 30,192 168,469 (208,742)
Net income (loss) ....................................... $ 152,198 $ 403,072 $ (242,119)
Net income (loss) per share:
Basic ................................................. $ 2.78 $ 7.36 $ (4.42)
Diluted ................................................ $ 2.78 $ 7.32 $ (4.42)
See accompanying notes to consolidated financial statements.
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