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: 2015 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 29, 2016) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Cash flow hedge gain reclassification from accumulated other comprehensive income to net realized gains/losses on securities | $ 1,300,500 | 1,281,000 | 1,165,400 |
| Cash Flows From Operating Activities | |||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation | 103,700 | 97,100 | 101,300 |
| Amortization of Intangible Assets | 46,800 | 0 | 0 |
| Amortization of fixed-income securities | 98,400 | 78,200 | 134,000 |
| Amortization of equity-based compensation | 66,200 | 51,400 | 64,900 |
| Net realized (gains) losses on securities | (112,700) | (224,200) | (318,400) |
| Net (gains) losses on disposition of property and equipment | 2,000 | 5,400 | 5,600 |
| (Gains) losses on extinguishment of debt | 900 | 4,800 | 4,300 |
| Changes in: | |||
| Premiums receivable | (421,100) | (227,100) | (127,400) |
| Reinsurance recoverables | (202,600) | (141,700) | (189,200) |
| Prepaid reinsurance premiums | 32,500 | (10,400) | (8,600) |
| Deferred acquisition costs | (42,300) | (9,600) | (13,100) |
| Income taxes | (107,200) | 97,500 | 57,800 |
| Unearned premiums | 632,400 | 266,400 | 244,800 |
| Loss and loss adjustment expense reserves | (917,700) | (378,000) | (641,600) |
| Accounts payable, accrued expenses, and other liabilities | 37,900 | 92,000 | 165,000 |
| Other, net | (60,200) | (13,200) | (28,100) |
| Net cash provided by operating activities | 2,292,900 | 1,725,600 | 1,899,900 |
| Cash Flows From Investing Activities | |||
| Purchases: | |||
| Fixed maturities | (9,311,100) | (7,967,500) | (7,100,600) |
| Equity securities | (647,100) | (369,700) | (322,200) |
| Sales: | |||
| Fixed maturities | 4,913,500 | 5,637,500 | 3,083,900 |
| Equity securities | 402,400 | 560,100 | 369,200 |
| Maturities, paydowns, calls, and other: | |||
| Fixed maturities | 3,579,500 | 2,296,600 | 1,859,600 |
| Equity securities | 12,000 | 14,300 | 21,500 |
| Net sales (purchases) of short-term investments | 20,500 | (876,000) | 716,600 |
| Net unsettled security transactions | (8,200) | (30,000) | 152,200 |
| Purchases of property and equipment | (130,700) | (108,100) | (140,400) |
| Sales of property and equipment | 10,600 | 5,900 | 3,700 |
| Payments to Acquire Businesses, Net of Cash Acquired | (752,700) | 0 | 0 |
| Payments to Acquire Additional Interest in Subsidiaries | (12,600) | 0 | 0 |
| Net cash used in investing activities | (1,923,900) | (836,900) | (1,356,500) |
| Cash Flows From Financing Activities | |||
| Proceeds from exercise of equity options | 200 | 0 | 0 |
| Tax benefit from exercise/vesting of equity-based compensation | 16,800 | 12,800 | 10,300 |
| Net proceeds from debt issuance | 382,000 | 344,700 | 0 |
| Payment of debt | (20,400) | 0 | (150,000) |
| Reacquisition of debt | (19,300) | (48,900) | (58,100) |
| Dividends paid to shareholders | (403,600) | (892,600) | (175,600) |
| Acquisition of treasury shares | (208,500) | (271,400) | (273,400) |
| Net cash used in financing activities | (252,800) | (855,400) | (646,800) |
| Effect of exchange rate changes on cash | (200) | 0 | (600) |
| Increase (decrease) in cash | 116,000 | 33,300 | (104,000) |
| Cash, Beginning of year | 108,400 | 75,100 | |
| Cash, End of year | 224,400 | 108,400 | 75,100 |
| External Links | |
| PROGRESSIVE CORP/OH/ (PGR) Fiscal Year 2015 | |
| 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 |