Mercury Insurance 2015 Annual Report Download - page 69
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See accompanying notes to consolidated financial statements.
57
MERCURY GENERAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in thousands)
December 31,
2015 2014
ASSETS
Investments, at fair value:
Fixed maturity securities (amortized cost $2,804,275; $2,503,494) $ 2,880,003 $ 2,618,400
Equity securities (cost $313,528; $387,851) 315,362 412,880
Short-term investments (cost $185,353; $373,180) 185,277 372,542
Total investments 3,380,642 3,403,822
Cash 264,221 289,907
Receivables:
Premiums 436,621 390,009
Accrued investment income 42,747 38,737
Other 21,925 21,202
Total receivables 501,293 449,948
Deferred policy acquisition costs 201,762 197,202
Fixed assets, net 157,131 158,976
Current income taxes 9,041 503
Deferred income taxes 23,231 —
Goodwill 42,796 42,796
Other intangible assets, net 31,702 35,623
Other assets 16,826 21,512
Total assets $ 4,628,645 $ 4,600,289
LIABILITIES AND SHAREHOLDERS’ EQUITY
Losses and loss adjustment expenses $ 1,146,688 $ 1,091,797
Unearned premiums 1,049,314 999,798
Notes payable 290,000 290,000
Accounts payable and accrued expenses 122,571 130,887
Deferred income taxes — 5,333
Other liabilities 199,187 207,028
Total liabilities 2,807,760 2,724,843
Commitments and contingencies
Shareholders’ equity:
Common stock without par value or stated value:
Authorized 70,000 shares; issued and outstanding 55,164; 55,121 90,985 88,705
Additional paid-in capital 8,870 3,804
Retained earnings 1,721,030 1,782,937
Total shareholders’ equity 1,820,885 1,875,446
Total liabilities and shareholders’ equity $ 4,628,645 $ 4,600,289