10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
| ||||||||||||||
|
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
PROGRESSIVE CORP/OH/ | ||
Ticker: PGR Fiscal Year: 2019 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2019 10-K (Filed: Mar 2, 2020) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2019 | Dec 31, 2018 | |
| Assets | ||
| Fixed maturities (amortized cost: $32,643.1 and $28,255.9) | $ 33,110,300 | 28,111,500 |
| Short-term investments (amortized cost: $1,798.8 and $1,795.9) | 1,798,800 | 1,795,900 |
| Total available-for-sale securities | 34,909,100 | 29,907,400 |
| Nonredeemable preferred stocks (cost: $971.3 and $1,002.6) | 1,038,900 | 1,033,900 |
| Common equities (cost: $1,125.5 and $1,148.9) | 3,306,300 | 2,626,100 |
| Total equity securities | 4,345,200 | 3,660,000 |
| Total investments | 39,254,300 | 33,567,400 |
| Cash and cash equivalents | 226,200 | 69,500 |
| Restricted cash | 1,200 | 5,500 |
| Total cash, cash equivalents, and restricted cash | 227,400 | 75,000 |
| Accrued investment income | 181,300 | 190,800 |
| Premiums receivable, net of allowance for doubtful accounts of $283.2 and $252.1 | 7,507,300 | 6,497,100 |
| Reinsurance recoverables | 3,378,900 | 2,696,100 |
| Prepaid reinsurance premiums | 626,500 | 309,700 |
| Deferred acquisition costs | 1,056,500 | 951,600 |
| Property and equipment, net of accumulated depreciation of $1,138.1 and $1,033.2 | 1,213,700 | 1,131,700 |
| Goodwill | 452,700 | 452,700 |
| Intangible assets, net of accumulated amortization of $314.0 and $247.7 | 228,300 | 294,600 |
| Net deferred income taxes | 0 | 43,200 |
| Other assets | 768,400 | 365,100 |
| Total assets | 54,895,300 | 46,575,000 |
| Liabilities | ||
| Unearned premiums | 12,388,800 | 10,686,500 |
| Loss and loss adjustment expense reserves | 18,105,400 | 15,400,800 |
| Net deferred income taxes | 132,500 | 0 |
| Accounts payable, accrued expenses, and other liabilities | 5,962,700 | 5,046,500 [1] |
| Debt | 4,407,100 | 4,404,900 |
| Total liabilities | 40,996,500 | 35,538,700 |
| Redeemable noncontrolling interest (NCI) | 225,600 [2] | 214,500 |
| Shareholders Equity | ||
| Serial Preferred Shares, Series B, no par value (cumulative, liquidation preference $1,000 per share) (authorized, issued, and outstanding 0.5) | 493,900 | 493,900 |
| Common shares, $1.00 par value (authorized 900.0; issued 797.5, including treasury shares of 212.9 and 214.3) | 584,600 | 583,200 |
| Paid-in capital | 1,573,400 | 1,479,000 |
| Retained earnings | 10,679,600 | 8,386,600 |
| Accumulated other comprehensive income (loss): | ||
| Net unrealized gains (losses) on fixed-maturity securities | 360,800 | (105,600) |
| Net unrealized losses on forecasted transactions | (16,400) | (17,200) |
| Accumulated other comprehensive (income) loss attributable to NCI | (2,700) | 1,900 |
| Total accumulated other comprehensive income (loss) attributable to Progressive | 341,700 | (120,900) |
| Total shareholders equity | 13,673,200 | 10,821,800 |
| Total liabilities, redeemable NCI, and shareholders equity | 54,895,300 | 46,575,000 |
| [1] See Note 1 Reporting and Accounting Policies for commitments and contingencies and Note 12 Litigation for further discussion. | ||
| [2] See Note 15 Redeemable Noncontrolling Interest for further discussion. | ||
| External Links | |
| PROGRESSIVE CORP/OH/ (PGR) Fiscal Year 2019 | |
| 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 |