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: 2009 | |||
Statement Of Income Insurance Based Revenue | |||
Period Ending Dec 31, 2009 10-K (Filed: Mar 1, 2010) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | |
| Revenues | |||
| Net premiums earned | $ 14,012,800 | 13,631,400 | 13,877,400 |
| Investment income | 507,000 | 637,700 | 680,800 |
| Net realized gains (losses) on securities: | |||
| Other-than-temporary impairment (OTTI) losses: | |||
| Total OTTI losses | (80,900) | 0 | 0 |
| Less: portion of OTTI losses recognized in other comprehensive income | 40,100 | 0 | 0 |
| Net impairment losses recognized in earnings | (40,800) | 0 | 0 |
| Net realized gains (losses) on securities | 67,900 | (1,445,100) | 106,300 |
| Total net realized gains (losses) on securities | 27,100 | (1,445,100) | 106,300 |
| Service revenues | 16,700 | 16,100 | 22,300 |
| Total revenues | 14,563,600 | 12,840,100 | 14,686,800 |
| Expenses | |||
| Losses and loss adjustment expenses | 9,904,900 | 10,015,000 | 9,926,200 |
| Policy acquisition costs | 1,364,600 | 1,358,100 | 1,399,900 |
| Other underwriting expenses | 1,567,700 | 1,523,400 | 1,526,200 |
| Investment expenses | 11,100 | 8,800 | 12,400 |
| Service expenses | 19,400 | 20,400 | 20,500 |
| Interest expense | 139,000 | 136,700 | 108,600 |
| Total expenses | 13,006,700 | 13,062,400 | 12,993,800 |
| Net Income (Loss) | |||
| Income (loss) before income taxes | 1,556,900 | (222,300) | 1,693,000 |
| Provision (benefit) for income taxes | 499,400 | (152,300) | 510,500 |
| Net income (loss) | 1,057,500 | (70,000) | 1,182,500 |
| Computation of Earnings Per Share | |||
| Basic: | |||
| Average shares outstanding | 666,800 | 668,000 | 710,400 |
| Per share | 1.59 | (0.10) | 1.66 |
| Diluted: | |||
| Average shares outstanding | 666,800 | 668,000 | 710,400 |
| Net effect of dilutive stock-based compensation | 5,400 | 5,900 | 8,100 |
| Total equivalent shares | 672,200 | 673,900 | 718,500 |
| Per share | 1.57 [1] | (0.10) | 1.65 |
| [1] For 2008, amount represents basic earnings per share since diluted earnings per share was antidilutive due to the net loss for the year. | |||
| External Links | |
| PROGRESSIVE CORP/OH/ (PGR) Fiscal Year 2009 | |
| 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 |