Mercury Insurance 2012 Annual Report Download - page 75
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See accompanying notes to consolidated financial statements.
54
MERCURY GENERAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in thousands)
December 31,
2012 2011
ASSETS
Investments, at fair value:
Fixed maturity securities (amortized cost $2,270,903; $2,345,620) $ 2,408,354 $ 2,445,589
Equity securities (cost $475,959; $388,417) 477,088 380,388
Short-term investments (cost $294,607; $236,433) 294,653 236,444
Total investments 3,180,095 3,062,421
Cash 158,183 211,393
Receivables:
Premiums 345,387 288,799
Accrued investment income 31,109 32,541
Other 17,756 11,320
Total receivables 394,252 332,660
Deferred policy acquisition costs 185,910 171,430
Fixed assets, net 161,940 177,760
Current income taxes 7,058 0
Deferred income taxes 0 6,511
Goodwill 42,796 42,850
Other intangible assets, net 47,589 53,749
Other assets 11,863 11,232
Total assets $ 4,189,686 $ 4,070,006
LIABILITIES AND SHAREHOLDERS’ EQUITY
Losses and loss adjustment expenses $ 1,036,123 $ 985,279
Unearned premiums 920,429 843,427
Notes payable 140,000 140,000
Accounts payable and accrued expenses 96,220 94,743
Current income taxes 0 67
Deferred income taxes 445 0
Other liabilities 153,972 149,007
Total liabilities 2,347,189 2,212,523
Commitments and contingencies
Shareholders’ equity:
Common stock without par value or stated value:
Authorized 70,000 shares; issued and outstanding 54,922; 54,856 79,380 76,634
Additional paid-in capital 0 538
Retained earnings 1,763,117 1,780,311
Total shareholders’ equity 1,842,497 1,857,483
Total liabilities and shareholders’ equity $ 4,189,686 $ 4,070,006