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: 2020 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2020 10-K (Filed: Mar 1, 2021) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2020 | Dec 31, 2019 | |
| Assets | ||
| Fixed maturities (amortized cost: $35,589.1 and $32,643.1) | $ 36,810,900 | 33,110,300 |
| Short-term investments (amortized cost: $5,218.5 and $1,798.8) | 5,218,500 | 1,798,800 |
| Total available-for-sale securities | 42,029,400 | 34,909,100 |
| Nonredeemable preferred stocks | 1,447,900 | 1,038,900 |
| Common equities | 4,053,000 | 3,306,300 |
| Total equity securities | 5,500,900 | 4,345,200 |
| Total investments | 47,530,300 | 39,254,300 |
| Cash and cash equivalents | 76,500 | 226,200 |
| Restricted cash | 0 | 1,200 |
| Total cash, cash equivalents, and restricted cash | 76,500 | 227,400 |
| Accrued investment income | 176,400 | 181,300 |
| Premiums receivable, net of allowance for credit losses of $356.2 and $283.2 | 8,160,100 | 7,507,300 |
| Reinsurance recoverables | 4,019,400 | 3,378,900 |
| Prepaid reinsurance premiums | 368,100 | 626,500 |
| Deferred acquisition costs | 1,237,200 | 1,056,500 |
| Property and equipment, net of accumulated depreciation of $1,291.4 and $1,138.1 | 1,106,000 | 1,213,700 |
| Goodwill | 452,700 | 452,700 |
| Intangible assets, net of accumulated amortization of $326.1 and $314.0 | 171,400 | 228,300 |
| Other assets | 800,200 | 783,600 |
| Total assets | 64,098,300 | 54,910,500 |
| Liabilities | ||
| Unearned premiums | 13,437,500 | 12,388,800 |
| Loss and loss adjustment expense reserves | 20,265,800 | 18,105,400 |
| Deferred Tax Liability, Federal Tax | 310,000 | 118,000 |
| Dividends payable on common shares | 2,694,500 | 1,375,400 |
| Accounts payable, accrued expenses, and other liabilities1 | 4,955,800 | 4,617,000 [1] |
| Debt | 5,396,100 [2] | 4,407,100 |
| Total liabilities | 47,059,700 | 41,011,700 |
| Redeemable noncontrolling interest (NCI) | 0 [3] | 225,600 |
| Shareholders Equity | ||
| Serial Preferred Shares, Series B, no par value (cumulative, liquidation preference of $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 212.3 and 212.9) | 585,200 | 584,600 |
| Paid-in capital | 1,672,900 | 1,573,400 |
| Retained earnings | 13,354,900 | 10,679,600 |
| Accumulated other comprehensive income (loss): | ||
| Net unrealized gains (losses) on fixed-maturity securities | 947,300 | 360,800 |
| Net unrealized losses on forecasted transactions | (15,600) | (16,400) |
| Accumulated other comprehensive income attributable to NCI | 0 | (2,700) |
| Total accumulated other comprehensive income (loss) attributable to Progressive | 931,700 | 341,700 |
| Total shareholders equity | 17,038,600 | 13,673,200 |
| Total liabilities, redeemable NCI, and shareholders equity | 64,098,300 | 54,910,500 |
| [1] See Note 1 Reporting and Accounting Policies for Commitments and Contingencies and Note 12 Litigation 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 2020 | |
| 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 |