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: 2013 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2013 10-K (Filed: Feb 26, 2014) | ||
(In Thousands, except shares in actual) | ||
As of | As of | |
Dec 31, 2013 | Dec 31, 2012 | |
Assets | ||
Investments - Available-for-sale, at fair value: | ||
Fixed maturities (amortized cost: $13,415.3 and $11,373.9) | $ 13,540,400 | 11,774,100 |
Equity securities: | ||
Nonredeemable preferred stocks (cost: $445.7 and $404.0) | 711,200 | 812,400 |
Common equities (cost: $1,451.1 and $1,370.3) | 2,530,500 | 1,899,000 |
Short-term investments (amortized cost: $1,272.6 and $1,990.0) | 1,272,600 | 1,990,000 |
Total investments at fair value | 18,054,700 | 16,475,500 |
Cash | 75,100 | 179,100 |
Accrued investment income | 89,800 | 90,000 |
Premiums receivable, net of allowance for doubtful accounts of $142.4 and $138.6 | 3,310,700 | 3,183,700 |
Reinsurance recoverables, including $44.3 and $38.9 on paid losses and loss adjustment expenses | 1,090,200 | 901,000 |
Prepaid reinsurance premiums | 74,900 | 66,300 |
Deferred acquisition costs | 447,600 | 434,500 |
Property and equipment, net of accumulated depreciation of $680.4 and $625.0 | 960,900 | 933,700 |
Net deferred income taxes | 0 | 109,400 |
Other assets | 304,300 | 321,500 |
Total assets | 24,408,200 | 22,694,700 |
Liabilities and Shareholders' Equity | ||
Unearned premiums | 5,174,500 | 4,930,700 |
Loss and loss adjustment expense reserves | 8,479,700 | 7,838,400 |
Net deferred income taxes | 28,400 | 0 |
Dividends Payable | 890,200 | 172,000 |
Accounts payable, accrued expenses, and other liabilities | 1,785,000 | 1,683,500 [1] |
Debt | 1,860,900 | 2,063,100 [2] |
Total liabilities | 18,218,700 | 16,687,700 |
Common shares, $1.00 par value (authorized 900.0; issued 797.6 and 797.7, including treasury shares of 201.8 and 193.1) | 595,800 | 604,600 |
Paid-in capital | 1,142,000 | 1,077,000 |
Retained earnings | 3,500,000 | 3,454,400 |
Accumulated other comprehensive income, net of tax: | ||
Net non-credit related OTTI losses, adjusted for valuation changes | 0 | (300) |
Other net unrealized gains (losses) on securities | 947,000 | 863,000 |
Total net unrealized gains (losses) on securities | 947,000 | 862,700 |
Net unrealized gains on forecasted transactions | 4,100 | 6,100 |
Foreign currency translation adjustment | 600 | 2,200 |
Total accumulated other comprehensive income | 951,700 | 871,000 |
Total shareholders' equity | 6,189,500 | 6,007,000 |
Total liabilities and shareholders' equity | 24,408,200 | 22,694,700 |
[1] See Note 12 Litigation and Note 13 Commitments and Contingencies for further discussion. | ||
[2] Consists of both short- and long-term debt. See Note 4 Debt for further discussion. |
External Links | |
PROGRESSIVE CORP/OH/ (PGR) Fiscal Year 2013 | |
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 |