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: 2012 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2012 10-K (Filed: Feb 26, 2013) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | |
| Cash Flows From Operating Activities | |||
| Net income | $ 902,300 | 1,015,500 | 1,068,300 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation | 94,400 | 88,500 | 83,100 |
| Amortization of fixed-income securities | 186,700 | 233,000 | 229,200 |
| Amortization of equity-based compensation | 63,400 | 50,500 | 45,900 |
| Net realized (gains) losses on securities | (306,800) | (102,600) | (96,100) |
| Net (gains) losses on disposition of property and equipment | 7,100 | 8,700 | 2,300 |
| (Gains) losses on extinguishment of debt | 1,800 | 100 | (6,400) |
| Changes in: | |||
| Premiums receivable | (253,800) | (191,400) | (283,600) |
| Reinsurance recoverables | (83,000) | (76,500) | (176,700) |
| Prepaid reinsurance premiums | 3,500 | 18,300 | (18,800) |
| Deferred acquisition costs | (900) | (16,400) | (15,000) |
| Income taxes | 19,800 | 28,400 | 48,100 |
| Unearned premiums | 351,100 | 225,600 | 180,800 |
| Loss and loss adjustment expense reserves | 592,600 | 174,800 | 418,000 |
| Accounts payable, accrued expenses, and other liabilities | 123,600 | 35,500 | 210,200 |
| Other, net | (10,400) | 5,900 | (10,000) |
| Net cash provided by operating activities | 1,691,400 | 1,497,900 | 1,679,300 |
| Cash Flows From Investing Activities | |||
| Purchases: | |||
| Fixed maturities | (5,199,200) | (6,032,400) | (4,491,700) |
| Equity securities | (463,100) | (582,000) | (511,400) |
| Sales: | |||
| Fixed maturities | 3,705,600 | 4,442,600 | 3,055,800 |
| Equity securities | 793,000 | 423,500 | 241,900 |
| Maturities, paydowns, calls, and other: | |||
| Fixed maturities | 1,488,900 | 1,540,900 | 1,341,100 |
| Equity securities | 16,000 | 0 | 0 |
| Net purchases of short-term investments - other | (438,200) | (461,000) | (11,500) |
| Net unsettled security transactions | (44,000) | (600) | (54,000) |
| Purchases of property and equipment | (127,700) | (78,900) | (64,700) |
| Sales of property and equipment | 3,800 | 3,000 | 8,000 |
| Net cash provided by (used in) investing activities | (264,900) | (744,900) | (486,500) |
| Cash Flows From Financing Activities | |||
| Proceeds from exercise of stock options | 500 | 22,400 | 27,200 |
| Tax benefit from exercise/vesting of equity-based compensation | 5,800 | 6,400 | 14,000 |
| Net proceeds from debt issuance | 0 | 491,900 | 0 |
| Payment of debt | (350,000) | 0 | 0 |
| Reacquisition of debt | (32,500) | (15,000) | (214,300) |
| Dividends paid to shareholders | (853,700) | (263,600) | (763,700) |
| Acquisition of treasury shares | (174,200) | (997,800) | (258,600) |
| Net cash used in financing activities | (1,404,100) | (755,700) | (1,195,400) |
| Effect of exchange rate changes on cash | 1,000 | (500) | 800 |
| Increase (decrease) in cash | 23,400 | (3,200) | (1,800) |
| Cash, beginning of year | 155,700 | 158,900 | |
| Cash, End of year | 179,100 | 155,700 | 158,900 |
| External Links | |
| PROGRESSIVE CORP/OH/ (PGR) Fiscal Year 2012 | |
| 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 |