10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
PROGRESSIVE CORP/OH/ | ||
Ticker: PGR Fiscal Year: 2011 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2011 10-K (Filed: Feb 28, 2012) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2011 | Dec 31, 2010 | |
| Assets | ||
| Investments - Available-for-sale, at fair value: | ||
| Fixed maturities (amortized cost: $11,455.7 and $11,630.8) | $ 11,759,300 | 11,850,000 |
| Equity securities: | ||
| Nonredeemable preferred stocks (cost: $473.7 and $601.3) | 806,300 | 1,157,600 |
| Common equities (cost: $1,431.0 and $1,021.7) | 1,845,600 | 1,425,000 |
| Short-term investments (amortized cost: $1,551.8 and $1,090.8) | 1,551,800 | 1,090,800 |
| Total investments at fair value | 15,963,000 [1] | 15,523,400 |
| Cash | 155,700 | 158,900 |
| Accrued investment income | 105,700 | 109,300 |
| Premiums receivable, net of allowance for doubtful accounts of $124.2 and $114.9 | 2,929,800 | 2,738,400 |
| Reinsurance recoverables, including $32.3 and $37.4 on paid losses and loss adjustment expenses | 818,000 | 741,500 |
| Prepaid Reinsurance Premiums | 69,800 | 88,100 |
| Deferred acquisition costs | 433,600 | 417,200 |
| Income taxes | 208,000 | 189,000 |
| Property and equipment, net of accumulated depreciation of $573.8 and $564.3 | 911,300 | 932,600 |
| Other assets | 249,900 | 251,900 |
| Total assets | 21,844,800 | 21,150,300 |
| Liabilities and Shareholders' Equity | ||
| Unearned premiums | 4,579,400 | 4,353,800 |
| Loss and loss adjustment expense reserves | 7,245,800 | 7,071,000 |
| Accounts payable, accrued expenses, and other liabilities | 1,770,800 [2] | 1,718,400 |
| Debt | 2,442,100 [3] | 1,958,200 |
| Total liabilities | 16,038,100 | 15,101,400 |
| Common Shares, $1.00 par value (authorized 900.0; issued 797.7, including treasury shares of 184.7 and 135.3) | 613,000 | 662,400 |
| Paid-in capital | 1,006,200 | 1,007,100 |
| Retained earnings | 3,495,000 | 3,595,700 |
| Accumulated other comprehensive income, net of tax: | ||
| Net non-credit related OTTI losses, adjusted for valuation changes | (5,400) | (1,800) |
| Other net unrealized gains (losses) on securities | 688,200 | 769,100 |
| Total net unrealized gains (losses) on securities | 682,800 | 767,300 |
| Net unrealized gains on forecasted transactions | 7,900 | 14,700 |
| Foreign currency translation adjustment | 1,800 | 1,700 |
| Total accumulated other comprehensive income | 692,500 | 783,700 |
| Total shareholders' equity | 5,806,700 | 6,048,900 |
| Total liabilities and shareholders' equity | 21,844,800 | 21,150,300 |
| [3] Consists of both short- and long-term debt. See Note 4 - Debt for further discussion. | ||
| [1] Excludes $46.9 million and $46.3 million at December 31, 2011 and 2010, respectively, of net unsettled security transactions included in other assets. | The total fair value of the portfolio includes $2.0 billion and $2.2 billion at December 31, 2011 and 2010, respectively, of securities held in a consolidated, non-insurance subsidiary of the holding company, net of any unsettled security transactions. | ||
| [2] See Note 12 - Litigation and Note 13 - Commitments and Contingencies for further discussion. | ||
| External Links | |
| PROGRESSIVE CORP/OH/ (PGR) Fiscal Year 2011 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |