Erie Indemnity Co (Erie Indemnity Co) Interest Coverage : No Debt ⁽¹⁾ (As of Dec. 2023)

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What is Erie Indemnity Co Interest Coverage?

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's EBIT by its Interest Expense. Erie Indemnity Co's EBIT for the three months ended in Dec. 2023 was $140 Mil. Erie Indemnity Co's Interest Expense for the three months ended in Dec. 2023 was $0 Mil. Erie Indemnity Co has no debt. The higher the ratio, the stronger the company's financial strength is.

Good Sign:

Erie Indemnity Co has no debt.

(1) Note: For Interest Coverage, "No debt" indicates no long-term debt. An indication of "No Debt" does not necessarily mean that the company has no long-term debt obligations; it could be due to missing data in the quarterly or annual report. Use caution when interpreting this information.

The historical rank and industry rank for Erie Indemnity Co's Interest Coverage or its related term are showing as below:

ERIE' s Interest Coverage Range Over the Past 10 Years
Min: 92.09 Med: 484.78 Max: No Debt
Current: No Debt

ERIE's Interest Coverage is ranked better than
99.38% of 323 companies
in the Insurance industry
Industry Median: 13.52 vs ERIE: No Debt

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Erie Indemnity Co Interest Coverage Historical Data

The historical data trend for Erie Indemnity Co's Interest Coverage can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Note: For Interest Coverage, "No debt" indicates no long-term debt. An indication of "No Debt" does not necessarily mean that the company has no long-term debt obligations; it could be due to missing data in the quarterly or annual report. Use caution when interpreting this information.

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Erie Indemnity Co Interest Coverage Chart

Erie Indemnity Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Coverage

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464.44

505.12

92.09

188.38

No Debt

Erie Indemnity Co Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Interest Coverage	Get a 7-Day Free Trial															No Debt	No Debt	No Debt	No Debt	No Debt

Competitive Comparison of Erie Indemnity Co's Interest Coverage

For the Insurance Brokers subindustry, Erie Indemnity Co's Interest Coverage, along with its competitors' market caps and Interest Coverage data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Erie Indemnity Co's Interest Coverage Distribution in the Insurance Industry

For the Insurance industry and Financial Services sector, Erie Indemnity Co's Interest Coverage distribution charts can be found below:

* The bar in red indicates where Erie Indemnity Co's Interest Coverage falls into.

Erie Indemnity Co Interest Coverage Calculation

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income (EBIT) by its Interest Expense:

If Interest Expense is negative and EBIT is positive, then

Interest Coverage

-1

EBIT

Interest Expense

Else if Interest Expense is negative and EBIT is negative, then

The company did not have earnings to cover the interest expense.

Else if Interest Expense is 0 and Long-Term Debt & Capital Lease Obligation is 0, then

The company had no debt ⁽¹⁾.

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Erie Indemnity Co's Interest Coverage for the fiscal year that ended in Dec. 2023 is calculated as

Here, for the fiscal year that ended in Dec. 2023, Erie Indemnity Co's Interest Expense was $0 Mil. Its EBIT was $562 Mil. And its Long-Term Debt & Capital Lease Obligation was $0 Mil.

Erie Indemnity Co had no debt ⁽¹⁾.

Erie Indemnity Co's Interest Coverage for the quarter that ended in Dec. 2023 is calculated as

Here, for the three months ended in Dec. 2023, Erie Indemnity Co's Interest Expense was $0 Mil. Its EBIT was $140 Mil. And its Long-Term Debt & Capital Lease Obligation was $0 Mil.

Erie Indemnity Co had no debt ⁽¹⁾.

The higher the ratio, the stronger the company's Financial Strength is.

Erie Indemnity Co (NAS:ERIE) Interest Coverage Explanation

Ben Graham requires that a company has a minimum interest coverage of 5 with the companies he invested. If the interest coverage is less than 2, the company is burdened by debt. Any business slow or recession may drag the company into a situation where it cannot pay the interest on its debt.

Interest Coverage is an important factor when GuruFocus ranks a company's overage Financial Strength .

Erie Indemnity Co Interest Coverage Related Terms

Thank you for viewing the detailed overview of Erie Indemnity Co's Interest Coverage provided by GuruFocus.com. Please click on the following links to see related term pages.

Erie Indemnity Co (Erie Indemnity Co) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Insurance » Erie Indemnity Co (NAS:ERIE) » Definitions » Interest Coverage

Comparable Companies

Traded in Other Exchanges

EI2:Germany

Address

100 Erie Insurance Place, Erie, PA, USA, 16530

Website

https://www.erieinsurance.com

Erie Indemnity Co primarily performs services on behalf of the Erie Insurance Exchange relating to sales, underwriting, and issuance of policies. Erie Indemnity's results are tied to the performance of the Insurance Exchange, which principally provides automobile and homeowners insurance for individuals, along with multiperil, workers' compensation, and commercial automobile insurance for its commercial clients. Erie Indemnity's management fee is typically 25% of the Exchange's premiums, and this accounts for all of Erie Indemnity's revenue. The company operates exclusively in the United States.

Executives

Marc Cipriani	officer: Senior Vice President	100 ERIE INSURANCE PLACE, ERIE PA 16530
Sean Dugan	officer: Executive Vice President	100 ERIE INSURANCE PLACE, ERIE PA 16530
Parthasarathy Srinivasa	officer: EVP, Chief Information Officer	100 ERIE INSURANCE PLACE, ERIE PA 16530
Jorie L Novacek	officer: SVP, Controller	100 ERIE INSURANCE PLACE, ERIE PA 16530
Thomas B Hagen	director	230 WEST 6TH STREET, ERIE PA 16507-1319
Eugene C Connell	director	785 HUNTINGTON DRIVE, ERIE PA 16505
Elizabeth A Vorsheck	director, 10 percent owner	6252 COMMERCIAL WAY PMB 140, BROOKSVILLE FL 34613
Brian W. Bolash	officer: SVP,Secretary,General Counsel	100 ERIE INSURANCE PLACE, ERIE PA 16530
Borneman J Ralph Jr	director	NATIONAL PENN BANCSHARES INC, PHILADELPHIA & READING AVENUES, BOYERTOWN PA 19512
Hudson Brian Arden Sr.	director	2407 PARK DRIVE, HARRISBURG PA 17110
Louis F Colaizzo	officer: Senior Vice President	100 ERIE INSURANCE PLACE, ERIE PA 16530
Salvatore Correnti	director	8518 SOUTHFIELDS CIRCLE, LUTHERVILLE MD 21093
Timothy G Necastro	officer: President & CEO, Designate	100 ERIE INSURANCE PL, ERIE PA 16530
Luann Datesh	director	333 OAK FOREST DRIVE, PITTSBURGH PA 15216
Robert C Wilburn	director	110 WASHINGTON AVENUE #1711, MIAMI BEACH FL 33139