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: 2010 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2010 10-K (Filed: Mar 1, 2011) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | |
| Revenues | |||
| Net premiums earned | $ 14,314,800 | 14,012,800 | 13,631,400 |
| Investment income | 520,100 | 507,000 | 637,700 |
| Net realized gains (losses) on securities: | |||
| Other-than-temporary impairment (OTTI) losses: | |||
| Total OTTI losses | (19,100) | (80,900) | 0 |
| Non-credit losses, net of credit losses recognized on previously recorded non-credit OTTI losses | 5,200 | 40,100 | 0 |
| Net impairment losses recognized in earnings | (13,900) | (40,800) | 0 |
| Net realized gains (losses) on securities | 110,000 | 67,900 | (1,445,100) |
| Total net realized gains (losses) on securities | 96,100 | 27,100 | (1,445,100) |
| Service revenues | 25,900 | 16,700 | 16,100 |
| Net gain on extinguishment of debt | 6,400 | 0 | 0 |
| Total revenues | 14,963,300 | 14,563,600 | 12,840,100 |
| Expenses | |||
| Losses and loss adjustment expenses | 10,131,300 | 9,904,900 | 10,015,000 |
| Policy acquisition costs | 1,359,900 | 1,364,600 | 1,358,100 |
| Other underwriting expenses | 1,740,100 | 1,567,700 | 1,523,400 |
| Investment expenses | 11,900 | 11,100 | 8,800 |
| Service expenses | 21,400 | 19,400 | 20,400 |
| Interest expense | 133,500 | 139,000 | 136,700 |
| Total expenses | 13,398,100 | 13,006,700 | 13,062,400 |
| Net Income (Loss) | |||
| Income (loss) before income taxes | 1,565,200 | 1,556,900 | (222,300) |
| Provision (benefit) for income taxes | 496,900 | 499,400 | (152,300) |
| Net income (loss) | 1,068,300 | 1,057,500 | (70,000) |
| Computation of Earnings Per Share | |||
| Basic: | |||
| Average shares outstanding | 657,900 | 666,800 | 668,000 |
| Per share | 1.62 | 1.59 | (0.10) |
| Diluted: | |||
| Average shares outstanding | 657,900 | 666,800 | 668,000 |
| Net effect of dilutive stock-based compensation | 5,400 | 5,400 | 5,900 |
| Total equivalent shares | 663,300 | 672,200 | 673,900 |
| Per share | 1.61 [1] | 1.57 | (0.10) |
| [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 2010 | |
| 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 |