Mercury Insurance 2013 Annual Report Download - page 106

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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,
2013 2012 2011
(Amounts in thousands)
Revenues:
Net investment income $ 1,293 $ 1,114 $ 1,411
Net realized investment gains (losses) 3,416 697 (1,866)
Total revenues 4,709 1,811 (455)
Expenses:
Other operating expenses 2,924 1,688 2,267
Interest 318 0 1,341
Total expenses 3,242 1,688 3,608
Income (loss) before income taxes and equity in net income of
subsidiaries 1,467 123 (4,063)
Income tax expense (benefit) 3,310 1,800 (684)
Loss before equity in net income of subsidiaries (1,843)(1,677)(3,379)
Equity in net income of subsidiaries 113,986 118,588 194,543
Net income $ 112,143 $ 116,911 $ 191,164
STATEMENTS OF COMPREHENSIVE INCOME
Year Ended December 31,
2013 2012 2011
(Amounts in thousands)
Net income $ 112,143 $ 116,911 $ 191,164
Other comprehensive income, before tax:
Gains on hedging instrument 0 0 1,139
Other comprehensive income, before tax 0 0 1,139
Income tax expense related to gains on hedging instrument 0 0 399
Other comprehensive income, net of tax: 0 0 740
Comprehensive income $ 112,143 $ 116,911 $ 191,904