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Exhibit 99.2

Erie Indemnity Company
Statements of Operations
(dollars in thousands, except per share data)
Three months ended December 31,Twelve months ended December 31,
2021202020212020
(Unaudited)
Operating revenue
Management fee revenue - policy issuance and renewal services$450,286 $429,698 $1,913,166 $1,841,794 
Management fee revenue - administrative services14,301 14,969 58,286 59,463 
Administrative services reimbursement revenue165,350 158,206 638,483 609,435 
Service agreement revenue5,994 6,379 24,042 25,797 
Total operating revenue635,931 609,252 2,633,977 2,536,489 
Operating expenses
Cost of operations - policy issuance and renewal services408,747 385,994 1,677,397 1,588,897 
Cost of operations - administrative services165,350 158,206 638,483 609,435 
Total operating expenses574,097 544,200 2,315,880 2,198,332 
Operating income
61,834 65,052 318,097 338,157 
Investment income
Net investment income12,572 9,400 62,177 29,753 
Net realized and unrealized investment (losses) gains(237)4,757 4,946 6,392 
Net impairment (losses) recoveries recognized in earnings(7)(86)209 (3,278)
Total investment income
12,328 14,071 67,332 32,867 
Interest expense, net1,050 723 4,132 731 
Other expense3,285 190 4,893 1,778 
Income before income taxes69,827 78,210 376,404 368,515 
Income tax expense14,785 15,425 78,544 75,211 
Net income
$55,042 $62,785 $297,860 $293,304 
Earnings Per Share
Net income per share
Class A common stock – basic$1.18 $1.35 $6.40 $6.30 
Class A common stock – diluted$1.05 $1.20 $5.69 $5.61 
Class B common stock – basic and diluted$177 $202 $959 $945 
Weighted average shares outstanding – Basic
Class A common stock46,189,068 49,189,001 46,188,806 46,188,659 
Class B common stock2,542 2,542 2,542 2,542 
Weighted average shares outstanding – Diluted
Class A common stock52,305,628 52,315,670 52,307,302 52,313,360 
Class B common stock2,542 2,542 2,542 2,542 
Dividends declared per share
Class A common stock$1.110 $3.035 $4.215 $5.930 
Class B common stock$166.50 $455.25 $632.25 $889.50 


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Erie Indemnity Company
Statements of Financial Position
(in thousands)
December 31, 2021December 31, 2020
Assets
Current assets:
Cash and cash equivalents$183,702 $161,240 
Available-for-sale securities38,396 17,697 
Equity securities0 19 
Receivables from Erie Insurance Exchange and affiliates, net479,123 494,637 
Prepaid expenses and other current assets56,206 52,561 
Accrued investment income6,303 6,146 
Total current assets763,730 732,300 
Available-for-sale securities, net907,689 910,539 
Equity securities87,743 94,071 
Fixed assets, net374,802 265,341 
Agent loans, net58,683 62,449 
Deferred income taxes, net145 12,341 
Other assets49,265 40,081 
Total assets$2,242,057 $2,117,122 
Liabilities and shareholders' equity
Current liabilities:
Commissions payable$270,746 $262,338 
Agent bonuses120,437 110,158 
Accounts payable and accrued liabilities138,317 150,706 
Dividends payable51,693 48,200 
Contract liability34,935 36,917 
Deferred executive compensation12,637 17,319 
Current portion of long-term borrowings2,098 2,031 
Total current liabilities630,863 627,669 
Defined benefit pension plan130,383 164,346 
Long-term borrowings91,734 93,833 
Contract liability17,686 18,878 
Deferred executive compensation14,571 14,904 
Other long-term liabilities14,342 9,444 
Total liabilities899,579 929,074 
Shareholders' equity1,342,478 1,188,048 
Total liabilities and shareholders' equity$2,242,057 $2,117,122 


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