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: 2021 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2021 10-K (Filed: Feb 28, 2022) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2021 | Dec 31, 2020 | |
| Assets | ||
| Fixed maturities (amortized cost: $43,794.2 and $35,589.1) | $ 43,873,100 | 36,810,900 |
| Short-term investments (amortized cost: $942.6 and $5,218.5) | 942,600 | 5,218,500 |
| Total available-for-sale securities | 44,815,700 | 42,029,400 |
| Nonredeemable preferred stocks (cost: $1,571.8 and $1,333.7) | 1,639,900 | 1,422,900 |
| Common equities (cost: $1,264.1 and $1,212.3) | 5,058,500 | 4,078,000 |
| Total equity securities | 6,698,400 | 5,500,900 |
| Total investments | 51,514,100 | 47,530,300 |
| Cash and cash equivalents | 187,100 | 76,500 |
| Restricted cash and cash equivalents | 15,000 | 0 |
| Total cash, cash equivalents, restricted cash, and restricted cash equivalents | 202,100 | 76,500 |
| Accrued investment income | 181,700 | 176,400 |
| Premiums receivable, net of allowance for credit losses of $280.4 and $356.2 | 9,399,500 | 8,160,100 |
| Reinsurance recoverables | 4,980,500 | 4,019,400 |
| Prepaid reinsurance premiums | 457,600 | 368,100 |
| Deferred acquisition costs | 1,355,600 | 1,237,200 |
| Property and equipment, net of accumulated depreciation of $1,407.4 and $1,291.4 | 1,137,300 | 1,106,000 |
| Goodwill | 452,700 | 452,700 |
| Intangible assets, net of accumulated amortization of $383.8 and $326.1 | 117,300 | 171,400 |
| Other assets | 1,333,900 | 800,200 |
| Total assets | 71,132,300 | 64,098,300 |
| Liabilities | ||
| Unearned premiums | 15,615,800 | 13,437,500 |
| Loss and loss adjustment expense reserves | 26,164,100 | 20,265,800 |
| Net federal deferred income taxes | 152,900 | 310,000 |
| Dividends Payable | 58,500 | 2,694,500 |
| Accounts payable, accrued expenses, and other liabilities | 6,010,600 [1] | 4,955,800 |
| Debt | 4,898,800 [2] | 5,396,100 |
| Total liabilities | 52,900,700 | 47,059,700 |
| 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 797.6 and 797.5, including treasury shares of 213.2 and 212.3) | 584,400 | 585,200 |
| Paid-in capital | 1,772,900 | 1,672,900 |
| Retained earnings | 15,339,700 | 13,354,900 |
| Accumulated other comprehensive income (loss): | ||
| Net unrealized gains (losses) on fixed-maturity securities | 56,200 | 947,300 |
| Net unrealized losses on forecasted transactions | (14,900) | (15,600) |
| Foreign currency translation adjustment | (600) | 0 |
| Total accumulated other comprehensive income (loss) | 40,700 | 931,700 |
| Total shareholders equity | 18,231,600 | 17,038,600 |
| Total liabilities and shareholders equity | 71,132,300 | 64,098,300 |
| [1] See Note 1 Reporting and Accounting Policies for Commitments and Contingencies and Note 12 Litigation for further discussion. | ||
| [2] Consists of long-term debt. See Note 4 Debt for further discussion. | ||
| External Links | |
| PROGRESSIVE CORP/OH/ (PGR) Fiscal Year 2021 | |
| 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 |