Mercury Insurance 2012 Annual Report Download - page 112

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See accompanying notes to condensed financial information.
See accompanying Report of Independent Registered Public Accounting Firm
S-5
SCHEDULE II, Continued
MERCURY GENERAL CORPORATION
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
STATEMENTS OF OPERATIONS
Year Ended December 31,
2012 2011 2010
(Amounts in thousands)
Revenues:
Net investment income $ 1,114 $ 1,411 $ 951
Net realized investment gains (losses) 697 (1,866) 1,420
Total revenues 1,811 (455) 2,371
Expenses:
Other operating expenses 1,688 2,267 12,945
Interest 0 1,341 2,180
Total expenses 1,688 3,608 15,125
Income (loss) before income taxes and equity in net income of
subsidiaries 123 (4,063)(12,754)
Income tax expense (benefit) 1,800 (684)(3,507)
Loss before equity in net income of subsidiaries (1,677)(3,379)(9,247)
Equity in net income of subsidiaries 118,588 194,543 161,445
Net income $ 116,911 $ 191,164 $ 152,198
STATEMENTS OF COMPREHENSIVE INCOME
Year Ended December 31,
2012 2011 2010
(Amounts in thousands)
Net income $ 116,911 $ 191,164 $ 152,198
Other comprehensive income (loss), before tax:
Gains (losses) on hedging instrument 0 1,139 (220)
Other comprehensive income (loss), before tax 0 1,139 (220)
Income tax expense (benefit) related to gains (losses) on hedging instrument 0 399 (77)
Other comprehensive income (loss), net of tax: 0 740 (143)
Comprehensive income $ 116,911 $ 191,904 $ 152,055