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: 2013 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 26, 2014) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Cash Flows From Operating Activities | |||
| Net income | $ 1,165,400 | 902,300 | 1,015,500 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation | 101,300 | 94,400 | 88,500 |
| Amortization of fixed-income securities | 134,000 | 186,700 | 233,000 |
| Amortization of equity-based compensation | 64,900 | 63,400 | 50,500 |
| Net realized (gains) losses on securities | (318,400) | (306,800) | (102,600) |
| Net (gains) losses on disposition of property and equipment | 5,600 | 7,100 | 8,700 |
| (Gains) losses on extinguishment of debt | 4,300 | 1,800 | 100 |
| Changes in: | |||
| Premiums receivable | (127,400) | (253,800) | (191,400) |
| Reinsurance recoverables | (189,200) | (83,000) | (76,500) |
| Prepaid reinsurance premiums | (8,600) | 3,500 | 18,300 |
| Deferred acquisition costs | (13,100) | (900) | (16,400) |
| Income taxes | 57,800 | 19,800 | 28,400 |
| Unearned premiums | 244,800 | 351,100 | 225,600 |
| Loss and loss adjustment expense reserves | 641,600 | 592,600 | 174,800 |
| Accounts payable, accrued expenses, and other liabilities | 165,000 | 123,600 | 35,500 |
| Other, net | (28,100) | (10,400) | 5,900 |
| Net cash provided by operating activities | 1,899,900 | 1,691,400 | 1,497,900 |
| Cash Flows From Investing Activities | |||
| Purchases: | |||
| Fixed maturities | (7,100,600) | (5,199,200) | (6,032,400) |
| Equity securities | (322,200) | (463,100) | (582,000) |
| Sales: | |||
| Fixed maturities | 3,083,900 | 3,705,600 | 4,442,600 |
| Equity securities | 369,200 | 793,000 | 423,500 |
| Maturities, paydowns, calls, and other: | |||
| Fixed maturities | 1,859,600 | 1,488,900 | 1,540,900 |
| Equity securities | 21,500 | 16,000 | 0 |
| Net sales (purchases) of short-term investments | 716,600 | (438,200) | (461,000) |
| Net unsettled security transactions | 152,200 | (44,000) | (600) |
| Purchases of property and equipment | (140,400) | (127,700) | (78,900) |
| Sales of property and equipment | 3,700 | 3,800 | 3,000 |
| Net cash provided by (used in) investing activities | (1,356,500) | (264,900) | (744,900) |
| Cash Flows From Financing Activities | |||
| Proceeds from exercise of stock options | 0 | 500 | 22,400 |
| Tax benefit from exercise/vesting of equity-based compensation | 10,300 | 5,800 | 6,400 |
| Net proceeds from debt issuance | 0 | 0 | 491,900 |
| Payment of debt | (150,000) | (350,000) | 0 |
| Reacquisition of debt | (58,100) | (32,500) | (15,000) |
| Dividends paid to shareholders | (175,600) | (853,700) | (263,600) |
| Acquisition of treasury shares | (273,400) | (174,200) | (997,800) |
| Net cash used in financing activities | (646,800) | (1,404,100) | (755,700) |
| Effect of exchange rate changes on cash | (600) | 1,000 | (500) |
| Increase (decrease) in cash | (104,000) | 23,400 | (3,200) |
| Cash, Beginning of year | 179,100 | 155,700 | |
| Cash, End of year | 75,100 | 179,100 | 155,700 |
| External Links | |
| PROGRESSIVE CORP/OH/ (PGR) Fiscal Year 2013 | |
| 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 |