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: 2016 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2016 10-K (Filed: Mar 1, 2017) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2016 | Dec 31, 2015 | |
| Assets | ||
| Investments - Available-for-sale, at fair value: | ||
| Fixed maturities (amortized cost: $16,287.1 and $15,347.9) | $ 16,243,800 | 15,332,200 |
| Equity securities: | ||
| Nonredeemable preferred stocks (cost: $734.2 and $674.2) | 853,500 | 782,600 |
| Common equities (cost: $1,437.5 and $1,494.3) | 2,812,400 | 2,650,500 |
| Short-term investments (amortized cost: $3,572.9 and $2,172.0) | 3,572,900 | 2,172,000 |
| Total investments | 23,482,600 | 20,937,300 |
| Cash | 211,500 | 224,100 |
| Restricted cash | 14,900 | 300 [1] |
| Accrued investment income | 103,900 | 102,200 |
| Premiums receivable, net of allowance for doubtful accounts of $186.8 and $164.8 | 4,509,200 | 3,987,700 |
| Reinsurance recoverables, including $83.8 and $46.1 on paid losses and loss adjustment expenses | 1,884,800 | 1,488,800 |
| Prepaid reinsurance premiums | 170,500 | 199,300 |
| Deferred acquisition costs | 651,200 | 564,100 |
| Property and equipment, net of accumulated depreciation of $845.8 and $778.3 | 1,177,100 | 1,037,200 |
| Goodwill | 449,400 | 447,600 |
| Intangible assets, net of accumulated amortization of $109.5 and $47.4 | 432,800 | 494,900 |
| Other assets | 339,600 | 335,800 |
| Total assets | 33,427,500 | 29,819,300 |
| Liabilities | ||
| Unearned premiums | 7,468,300 | 6,621,800 |
| Loss and loss adjustment expense reserves | 11,368,000 | 10,039,000 |
| Net deferred income taxes | 111,300 | 109,300 |
| Dividends payable | 395,400 | 519,200 |
| Accounts payable, accrued expenses, and other liabilities | 2,495,500 | 2,067,800 [2] |
| Debt | 3,148,200 | 2,707,900 [3] |
| Total liabilities | 24,986,700 | 22,065,000 |
| Redeemable noncontrolling interest (NCI) | 483,700 | 464,900 [4] |
| Shareholders' Equity | ||
| Common shares, $1.00 par value (authorized 900.0; issued 797.5 and 797.6 including treasury shares of 217.6 and 214.0) | 579,900 | 583,600 |
| Paid-in capital | 1,303,400 | 1,218,800 |
| Retained earnings | 5,140,400 | 4,686,600 |
| Accumulated other comprehensive income: | ||
| Net unrealized gains (losses) on securities | 939,600 | 809,000 |
| Net unrealized losses on forecasted transactions | (9,400) | (8,200) |
| Foreign currency translation adjustment | (1,100) | (1,500) |
| Accumulated other comprehensive (income) loss attributable to NCI | 4,300 | 1,100 |
| Total accumulated other comprehensive income attributable to Progressive | 933,400 | 800,400 |
| Total shareholders equity | 7,957,100 | 7,289,400 |
| Total liabilities, redeemable NCI, and shareholders equity | 33,427,500 | 29,819,300 |
| [1] See Note 1 Reporting and Accounting Policies - Supplemental Cash Flow information for further discussion. | ||
| [2] See Note 12 Litigation and Note 13 Commitments and Contingencies for further discussion. | ||
| [3] Consists of both short-term and long-term debt. See Note 4 Debt for further discussion. | ||
| [4] See Note 15 Redeemable Noncontrolling Interest for further discussion. | ||
| External Links | |
| PROGRESSIVE CORP/OH/ (PGR) Fiscal Year 2016 | |
| 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 |