Mercury Insurance 2013 Annual Report Download - page 68

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See accompanying notes to consolidated financial statements.
53
MERCURY GENERAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in thousands)
December 31,
2013 2012
ASSETS
Investments, at fair value:
Fixed maturity securities (amortized cost $2,523,042; $2,270,903) $ 2,560,653 $ 2,408,354
Equity securities (cost $223,933; $475,959) 281,883 477,088
Short-term investments (cost $315,886; $294,607) 315,776 294,653
Total investments 3,158,312 3,180,095
Cash 266,508 158,183
Receivables:
Premiums 366,075 345,387
Accrued investment income 36,120 31,109
Other 23,029 17,756
Total receivables 425,224 394,252
Deferred policy acquisition costs 194,466 185,910
Fixed assets, net 156,716 161,940
Current income taxes 0 7,058
Deferred income taxes 15,220 0
Goodwill 42,796 42,796
Other intangible assets, net 41,603 47,589
Other assets 14,336 11,863
Total assets $ 4,315,181 $ 4,189,686
LIABILITIES AND SHAREHOLDERS’ EQUITY
Losses and loss adjustment expenses $ 1,038,984 $ 1,036,123
Unearned premiums 953,527 920,429
Notes payable 190,000 140,000
Accounts payable and accrued expenses 127,663 96,220
Current income taxes 11,856 0
Deferred income taxes 0 445
Other liabilities 170,665 153,972
Total liabilities 2,492,695 2,347,189
Commitments and contingencies
Shareholders’ equity:
Common stock without par value or stated value:
Authorized 70,000 shares; issued and outstanding 54,975; 54,922 81,591 79,380
Additional paid-in capital 411 0
Retained earnings 1,740,484 1,763,117
Total shareholders’ equity 1,822,486 1,842,497
Total liabilities and shareholders’ equity $ 4,315,181 $ 4,189,686