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: 2017 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2017 10-K (Filed: Feb 27, 2018) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2017 | Dec 31, 2016 | |
| Assets | ||
| Investments Available-for-sale, at fair value: | ||
| Fixed maturities (amortized cost: $20,209.9 and $16,287.1) | $ 20,201,700 | 16,243,800 |
| Equity securities: | ||
| Nonredeemable preferred stocks (cost: $698.6 and $734.2) | 803,800 | 853,500 |
| Common equities (cost: $1,499.0 and $1,437.5) | 3,399,800 | 2,812,400 |
| Short-term investments (amortized cost: $2,869.4 and $3,572.9) | 2,869,400 | 3,572,900 |
| Total investments | 27,274,700 | 23,482,600 |
| Cash | 265,000 | 211,500 |
| Restricted Cash | 10,300 | 14,900 |
| Total Cash, Cash Equivalents, and Restricted Cash | 275,300 | 226,400 |
| Accrued investment income | 119,700 | 103,900 |
| Premiums receivable, net of allowance for doubtful accounts of $210.9 and $186.8 | 5,422,500 | 4,509,200 |
| Reinsurance recoverables, including $103.3 and $83.8 on paid losses and loss adjustment expenses | 2,273,400 | 1,884,800 |
| Prepaid reinsurance premiums | 203,300 | 170,500 |
| Deferred acquisition costs | 780,500 | 651,200 |
| Property and equipment, net of accumulated depreciation of $940.6 and $845.8 | 1,119,600 | 1,177,100 |
| Goodwill | 452,700 | 449,400 |
| Intangible assets, net of accumulated amortization of $175.7 and $109.5 | 366,600 | 432,800 |
| Other assets | 412,900 | 339,600 |
| Total assets | 38,701,200 | 33,427,500 |
| Liabilities | ||
| Unearned premiums | 8,903,500 | 7,468,300 |
| Loss and loss adjustment expense reserves | 13,086,900 | 11,368,000 |
| Net deferred income taxes | 135,000 | 111,300 |
| Dividends payable | 655,100 | 395,400 |
| Accounts payable, accrued expenses, and other liabilities | 2,825,900 | 2,495,500 [1] |
| Debt | 3,306,300 [2] | 3,148,200 |
| Total liabilities | 28,912,700 | 24,986,700 |
| Redeemable noncontrolling interest (NCI) | 503,700 [3] | 483,700 |
| Shareholders Equity | ||
| Common shares, $1.00 par value (authorized 900.0; issued 797.5 including treasury shares of 215.8 and 217.6) | 581,700 | 579,900 |
| Paid-in capital | 1,389,200 | 1,303,400 |
| Retained earnings | 6,031,700 | 5,140,400 |
| Accumulated other comprehensive income: | ||
| Net unrealized gains (losses) on securities | 1,295,000 | 939,600 |
| Net unrealized losses on forecasted transactions | (14,800) | (9,400) |
| Foreign currency translation adjustment | 0 | (1,100) |
| Accumulated other comprehensive (income) loss attributable to NCI | 2,000 | 4,300 |
| Total accumulated other comprehensive income attributable to Progressive | 1,282,200 | 933,400 |
| Total shareholders equity | 9,284,800 | 7,957,100 |
| Total liabilities, redeemable NCI, and shareholders equity | 38,701,200 | 33,427,500 |
| [1] See Note 12 Litigation and Note 13 Commitments and Contingencies for further discussion. | ||
| [2] Consists of both short-term and long-term debt. See Note 4 Debt for further discussion. | ||
| [3] See Note 15 Redeemable Noncontrolling Interest for further discussion. | ||
| External Links | |
| PROGRESSIVE CORP/OH/ (PGR) Fiscal Year 2017 | |
| 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 |