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SAFETY INSURANCE GROUP INC (SAFT)
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| Income Statement |
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Annual | Quarterly | TTM |
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| In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 |
| | 8-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
| Revenues | 797.6 | 884.9 | 846.2 | 877.8 | 836.5 | 839.1 | 819.8 | 798.0 |
| Revenue growth | -9.9% | 4.6% | -3.6% | 4.9% | -0.3% | 2.4% | 2.7% | 2.5% |
| Loss and loss adjustment expenses | 492.0 | 461.7 | 404.6 | 509.8 | 485.5 | 503.9 | 493.4 | 612.6 |
| Policy acquisition costs | | 146.6 | 147.0 | 147.9 | 146.6 | 144.7 | 141.5 | 138.2 |
| Other underwriting costs | | | | | | | | |
| Investment expenses | | 3.4 | 3.1 | 3.1 | 2.9 | 2.7 | 3.0 | 2.6 |
| Other operating expenses | 245.5 | 108.5 | 116.4 | 93.1 | 97.1 | 101.0 | 88.5 | 73.1 |
| EBITDA | | 175.9 | 189.3 | 134.2 | 115.1 | 98.8 | 103.1 | -19.7 |
| EBITDA margin | | 19.9% | 22.4% | 15.3% | 13.8% | 11.8% | 12.6% | -2.5% |
| Depreciation | | 11.1 | 14.1 | 10.4 | 10.7 | 12.0 | 9.8 | 8.9 |
| EBIT | 60.1 | 164.8 | 175.2 | 123.8 | 104.3 | 86.8 | 93.4 | -28.6 |
| EBIT margin | 7.5% | 18.6% | 20.7% | 14.1% | 12.5% | 10.3% | 11.4% | -3.6% |
| Interest expense | 0.5 | 0.5 | 0.4 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 |
| Interest expense | 0.5 | 0.5 | 0.4 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 |
| Pre-tax income | 59.6 | 164.3 | 174.8 | 123.7 | 104.3 | 86.7 | 93.3 | -28.6 |
| Income taxes | 13.0 | 33.6 | 36.6 | 24.1 | 21.1 | 24.3 | 28.7 | -14.8 |
| Tax rate | 21.9% | 20.4% | 20.9% | 19.5% | 20.2% | 28.0% | 30.8% | 51.6% |
| Earnings from continuing ops | 46.6 | 130.7 | 138.2 | 99.6 | 83.2 | 62.4 | 64.6 | -13.9 |
| Earnings from discontinued ops | 0.0 | | | | | | | |
| Net income | 46.6 | 130.7 | 138.2 | 99.6 | 83.2 | 62.4 | 64.6 | -13.9 |
| Net margin | 5.8% | 14.8% | 16.3% | 11.3% | 9.9% | 7.4% | 7.9% | -1.7% |
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| Basic EPS | $3.17 | $8.81 | $9.21 | $6.55 | $5.52 | $4.16 | $4.32 | ($0.93) |
| Diluted EPS | $3.15 | $8.76 | $9.14 | $6.49 | $5.46 | $4.12 | $4.30 | ($0.93) |
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| Shares outstanding (basic) | 14.7 | 14.8 | 15.0 | 15.2 | 15.1 | 15.0 | 14.9 | 14.9 |
| Shares outstanding (diluted) | 14.8 | 14.9 | 15.1 | 15.3 | 15.2 | 15.1 | 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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