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: 2015 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2015 10-K (Filed: Feb 29, 2016) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2015 | Dec 31, 2014 | |
| Assets | ||
| Investments - Available-for-sale, at fair value: | ||
| Fixed maturities (amortized cost: $15,347.9 and $13,374.2) | $ 15,332,200 | 13,549,200 |
| Equity securities: | ||
| Nonredeemable preferred stocks (cost: $674.2 and $590.4) | 782,600 | 827,500 |
| Common equities (cost: $1,494.3 and $1,289.2) | 2,650,500 | 2,492,300 |
| Short-term investments (amortized cost: $2,172.0 and $2,149.0) | 2,172,000 | 2,149,000 |
| Total investments at fair value | 20,937,300 | 19,018,000 [1] |
| Cash | 224,400 | 108,400 |
| Accrued investment income | 102,200 | 87,300 |
| Premiums receivable, net of allowance for doubtful accounts of $164.8 and $152.2 | 3,987,700 | 3,537,500 |
| Reinsurance recoverables, including $46.1 and $46.0 on paid losses and loss adjustment expenses | 1,488,800 | 1,231,900 |
| Prepaid reinsurance premiums | 199,300 | 85,300 |
| Deferred acquisition costs | 564,100 | 457,200 |
| Property and equipment, net of accumulated depreciation of $778.3 and $731.0 | 1,037,200 | 960,600 |
| Intangible Assets, Net (Excluding Goodwill) | 494,900 | 11,300 |
| Other assets | 335,800 | 288,500 |
| Goodwill | 447,600 | 1,600 |
| Total assets | 29,819,300 | 25,787,600 |
| Liabilities and Shareholders' Equity | ||
| Unearned premiums | 6,621,800 | 5,440,100 |
| Loss and loss adjustment expense reserves | 10,039,000 | 8,857,400 |
| Net deferred income taxes | 109,300 | 98,900 |
| Dividends payable | 519,200 | 404,100 |
| Accounts payable, accrued expenses, and other liabilities | 2,067,800 | 1,893,800 |
| Debt, Long-term and Short-term, Combined Amount | 2,707,900 | 2,164,700 |
| Total liabilities | 22,065,000 | 18,859,000 |
| Redeemable Noncontrolling Interest, Equity, Carrying Amount | 464,900 | 0 |
| Common shares, $1.00 par value (authorized 900.0; issued 797.6, including treasury shares of 214.0 and 209.8) | 583,600 | 587,800 |
| Paid-in capital | 1,218,800 | 1,184,300 |
| Retained earnings | 4,686,600 | 4,133,400 |
| Accumulated other comprehensive income, net of tax: | ||
| Total net unrealized gains (losses) on securities | 809,000 | 1,021,900 |
| Net unrealized gains on forecasted transactions | (8,200) | 1,500 |
| Foreign currency translation adjustment | (1,500) | (300) |
| Stockholders' Equity Attributable to Noncontrolling Interest | 1,100 | 0 |
| Total accumulated other comprehensive income | 800,400 | 1,023,100 |
| Total shareholders' equity | 7,289,400 | 6,928,600 |
| Total liabilities and shareholders' equity | 29,819,300 | 25,787,600 |
| [1] The total fair value of the portfolio included $1.3 billion and $1.9 billion at December 31, 2015 and 2014, respectively, of securities held in a consolidated, non-insurance subsidiary of the holding company, net of any unsettled security transactions. | Our portfolio reflects the effect of unsettled security transactions and collateral on open derivative positions; at December 31, 2015, $23.1 million was included in "other assets," compared to $31.3 million in "other liabilities" at December 31, 2014. | ||
| External Links | |
| PROGRESSIVE CORP/OH/ (PGR) Fiscal Year 2015 | |
| 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 |