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: 2018 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2018 10-K (Filed: Feb 27, 2019) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2018 | Dec 31, 2017 | |
| Assets | ||
| Fixed maturities (amortized cost: $28,255.9 and $20,209.9) | $ 28,111,500 | |
| Short-term investments (amortized cost: $1,795.9 and $2,869.4) | 1,795,900 | |
| Fixed maturities (amortized cost: $28,255.9 and $20,209.9) | 29,907,400 | |
| Nonredeemable preferred stocks (cost: $1,002.6 and $698.6) | 1,033,900 | |
| Common equities (cost: $1,148.9 and $1,499.0) | 2,626,100 | |
| Total equity securities | 3,660,000 | |
| Total investments | 33,567,400 | |
| Fixed maturities (amortized cost: $28,255.9 and $20,209.9) | 20,201,700 | |
| Short-term investments (amortized cost: $1,795.9 and $2,869.4) | 2,869,400 | |
| Total available-for-sale securities | 23,071,100 | |
| Nonredeemable preferred stocks (cost: $1,002.6 and $698.6) | 803,800 | |
| Common equities (cost: $1,148.9 and $1,499.0) | 3,399,800 | |
| Total equity securities | 4,203,600 | |
| Total investments | 27,274,700 | |
| Cash and cash equivalents | 69,500 | 265,000 |
| Restricted cash | 5,500 | 10,300 |
| Total cash, cash equivalents, and restricted cash | 75,000 | 275,300 |
| Accrued investment income | 190,800 | 119,700 |
| Premiums receivable, net of allowance for doubtful accounts of $252.1 and $210.9 | 6,497,100 | 5,422,500 |
| Reinsurance recoverables | 2,696,100 | 2,273,400 |
| Prepaid reinsurance premiums | 309,700 | 203,300 |
| Deferred acquisition costs | 951,600 | 780,500 |
| Property and equipment, net of accumulated depreciation of $1,033.2 and $940.6 | 1,131,700 | 1,119,600 |
| Goodwill | 452,700 | 452,700 |
| Intangible assets, net of accumulated amortization of $247.7 and $175.7 | 294,600 | 366,600 |
| Net deferred income taxes | 43,200 | 0 |
| Other assets | 365,100 | 412,900 |
| Total assets | 46,575,000 | 38,701,200 |
| Liabilities | ||
| Unearned premiums | 10,686,500 | 8,903,500 |
| Loss and loss adjustment expense reserves | 15,400,800 | 13,086,900 |
| Net deferred income taxes | 0 | 135,000 |
| Accounts payable, accrued expenses, and other liabilities | 5,046,500 [1] | 3,481,000 |
| Debt | 4,404,900 [2] | 3,306,300 |
| Total liabilities | 35,538,700 | 28,912,700 |
| Redeemable noncontrolling interest (NCI) | 214,500 [3] | 503,700 |
| Shareholders Equity | ||
| Serial Preferred Shares, Series B, no par value (cumulative, liquidation preference $1,000 per share) (authorized, issued, and outstanding 0.5 and 0) | 493,900 | 0 |
| Common shares, $1.00 par value (authorized 900.0; issued 797.5, including treasury shares of 214.3 and 215.8) | 583,200 | 581,700 |
| Paid-in capital | 1,479,000 | 1,389,200 |
| Retained earnings | 8,386,600 | 6,031,700 |
| Accumulated other comprehensive income: | ||
| Net unrealized gains (losses) on securities | (105,600) | 1,295,000 |
| Net unrealized losses on forecasted transactions | (17,200) | (14,800) |
| Accumulated other comprehensive (income) loss attributable to NCI | 1,900 | 2,000 |
| Total accumulated other comprehensive income attributable to Progressive | (120,900) | 1,282,200 |
| Total shareholders equity | 10,821,800 | 9,284,800 |
| Total liabilities, redeemable NCI, and shareholders equity | 46,575,000 | 38,701,200 |
| [3] See Note 15 Redeemable Noncontrolling Interest for further discussion. | ||
| [1] See Note 12 Litigation, Note 13 Commitments and Contingencies, and Note 14 Dividends for further discussion. | ||
| [2] Consists of long-term debt. See Note 4 Debt for further discussion. | ||
| External Links | |
| PROGRESSIVE CORP/OH/ (PGR) Fiscal Year 2018 | |
| 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 |