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Protective Insurance Corp (PTVCA/B)
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| Income Statement |
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Annual | Quarterly | TTM |
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| In millions, except per share items | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 | Dec-31-14 | Dec-31-13 |
| | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
| Revenues: |
| Property and Casualty Insurance Segment | 468.7 | 495.6 | 439.2 | | | | | |
| Property and Casualty Insurance | | | | 371.2 | 319.0 | 280.3 | 261.6 | 252.7 |
| Reinsurance | | | | | | | 36.9 | 50.0 |
| Total revenues | 468.7 | 495.6 | 439.2 | 371.2 | 319.0 | 280.3 | 292.0 | 291.0 |
| Revenue growth | -5.4% | 12.8% | 18.3% | 16.4% | 13.8% | -4.0% | 0.4% | 11.0% |
| Loss and loss adjustment expenses | 319.0 | 348.5 | 345.9 | 247.5 | 186.5 | 155.8 | 159.6 | 150.7 |
| Policy acquisition costs | 79.9 | 81.7 | 78.1 | 70.6 | 51.6 | 50.3 | 48.9 | 47.4 |
| Other underwriting costs | 66.0 | 60.0 | 46.6 | 37.2 | 41.7 | 42.6 | 37.8 | 35.3 |
| Investment expenses | 2.4 | 2.7 | 3.0 | 2.3 | 2.5 | 2.6 | 2.5 | 2.5 |
| Other operating expenses | -4.9 | -5.9 | 9.5 | 3.5 | -6.3 | -5.0 | -1.1 | 0.2 |
| EBITDA | 67.4 | 70.5 | 17.2 | 63.3 | 66.7 | 39.0 | 49.2 | 59.2 |
| EBITDA margin | 14.4% | 14.2% | 3.9% | 17.0% | 20.9% | 13.9% | 16.8% | 20.3% |
| Depreciation | 5.9 | 6.1 | 6.1 | 5.8 | 5.5 | -16.3 | -20.3 | -22.3 |
| EBITA | 61.5 | 64.5 | 11.1 | 57.5 | 61.1 | 55.3 | 69.5 | 81.5 |
| EBITA margin | 13.1% | 13.0% | 2.5% | 15.5% | 19.2% | 19.7% | 23.8% | 28.0% |
| Amortization of intangibles | 55.2 | 55.8 | 55.0 | 47.4 | 18.1 | 21.3 | 25.1 | 26.6 |
| EBIT | 6.4 | 8.7 | -43.9 | 10.1 | 43.1 | 34.0 | 44.4 | 54.9 |
| EBIT margin | 1.4% | 1.8% | -10.0% | 2.7% | 13.5% | 12.1% | 15.2% | 18.9% |
| Pre-tax income | 6.4 | 8.7 | -43.9 | 10.1 | 43.1 | 34.0 | 44.4 | 54.9 |
| Income taxes | 1.9 | 1.3 | -9.8 | -8.2 | 14.1 | 10.7 | 14.7 | 18.3 |
| Tax rate | 29.9% | 15.3% | 22.3% | | 32.8% | 31.4% | 33.1% | 33.4% |
| Net income | 4.5 | 7.3 | -34.1 | 18.3 | 28.9 | 23.3 | 29.7 | 36.6 |
| Net margin | 1.0% | 1.5% | -7.8% | 4.9% | 9.1% | 8.3% | 10.2% | 12.6% |
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| Basic EPS | $0.32 | $0.51 | ($2.28) | $1.22 | $1.92 | $1.55 | $1.99 | $2.45 |
| Diluted EPS | $0.31 | $0.50 | ($2.28) | $1.21 | $1.92 | $1.55 | $1.98 | $2.45 |
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| Shares outstanding (basic) | 14.1 | 14.5 | 15.0 | 15.1 | 15.1 | 15.0 | 15.0 | 14.9 |
| Shares outstanding (diluted) | 14.3 | 14.6 | 15.0 | 15.1 | 15.1 | 15.0 | 15.0 | 14.9 |
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| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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