Mercury Insurance 2015 Annual Report Download - page 70
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See accompanying notes to consolidated financial statements.
58
MERCURY GENERAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
Year Ended December 31,
2015 2014 2013
Revenues:
Net premiums earned $ 2,957,897 $ 2,796,195 $ 2,698,187
Net investment income 126,299 125,723 124,538
Net realized investment (losses) gains (83,807) 81,184 (11,422)
Other 8,911 8,671 9,738
Total revenues 3,009,300 3,011,773 2,821,041
Expenses:
Losses and loss adjustment expenses 2,145,495 1,986,122 1,962,690
Policy acquisition costs 539,231 526,208 505,517
Other operating expenses 250,839 249,381 219,478
Interest 3,168 2,637 1,260
Total expenses 2,938,733 2,764,348 2,688,945
Income before income taxes 70,567 247,425 132,096
Income tax (benefit) expense (3,912) 69,476 19,953
Net income $ 74,479 $ 177,949 $ 112,143
Net income per share:
Basic $ 1.35 $ 3.23 $ 2.04
Diluted $ 1.35 $ 3.23 $ 2.04