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: 2014 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2014 10-K (Filed: Mar 2, 2015) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2014 | Dec 31, 2013 | |
| Assets | ||
| Investments - Available-for-sale, at fair value: | ||
| Fixed maturities (amortized cost: $13,374.2 and $13,415.3) | $ 13,549,200 | 13,540,400 |
| Equity securities: | ||
| Nonredeemable preferred stocks (cost: $590.4 and $445.7) | 827,500 | 711,200 |
| Common equities (cost: $1,289.2 and $1,451.1) | 2,492,300 | 2,530,500 |
| Short-term investments (amortized cost: $2,149.0 and $1,272.6) | 2,149,000 | 1,272,600 |
| Total investments at fair value | 19,018,000 | 18,054,700 |
| Cash | 108,400 | 75,100 |
| Accrued investment income | 87,300 | 89,800 |
| Premiums receivable, net of allowance for doubtful accounts of $152.2 and $142.4 | 3,537,500 | 3,310,700 |
| Reinsurance recoverables, including $46.0 and $44.3 on paid losses and loss adjustment expenses | 1,231,900 | 1,090,200 |
| Prepaid reinsurance premiums | 85,300 | 74,900 |
| Deferred acquisition costs | 457,200 | 447,600 |
| Property and equipment, net of accumulated depreciation of $731.0 and $680.4 | 960,600 | 960,900 |
| Other assets | 301,400 | 304,300 |
| Total assets | 25,787,600 | 24,408,200 |
| Liabilities and Shareholders' Equity | ||
| Unearned premiums | 5,440,100 | 5,174,500 |
| Loss and loss adjustment expense reserves | 8,857,400 | 8,479,700 |
| Net deferred income taxes | 98,900 | 28,400 |
| Dividends payable | 404,100 | 890,200 |
| Accounts payable, accrued expenses, and other liabilities | 1,893,800 [1] | 1,785,000 |
| Debt | 2,164,700 | 1,860,900 [2] |
| Total liabilities | 18,859,000 | 18,218,700 |
| Common shares, $1.00 par value (authorized 900.0; issued 797.6, including treasury shares of 209.8 and 201.8) | 587,800 | 595,800 |
| Paid-in capital | 1,184,300 | 1,142,000 |
| Retained earnings | 4,133,400 | 3,500,000 |
| Accumulated other comprehensive income, net of tax: | ||
| Net non-credit related OTTI losses, adjusted for valuation changes | 0 | 0 |
| Other net unrealized gains (losses) on securities | 1,021,900 | 947,000 |
| Total net unrealized gains (losses) on securities | 1,021,900 | 947,000 |
| Net unrealized gains on forecasted transactions | 1,500 | 4,100 |
| Foreign currency translation adjustment | (300) | 600 |
| Total accumulated other comprehensive income | 1,023,100 | 951,700 |
| Total shareholders' equity | 6,928,600 | 6,189,500 |
| Total liabilities and shareholders' equity | 25,787,600 | 24,408,200 |
| [1] See Note 12 Litigation and Note 13 Commitments and Contingencies for further discussion. | ||
| [2] Consists of long-term debt. See Note 4 Debt for further discussion. | ||
| External Links | |
| PROGRESSIVE CORP/OH/ (PGR) Fiscal Year 2014 | |
| 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 |