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: 2012 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2012 10-K (Filed: Feb 26, 2013) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | |
| Revenues | |||
| Net premiums earned | $ 16,018,000 | 14,902,800 | 14,314,800 |
| Investment income | 443,000 | 480,000 | 520,100 |
| Net realized gains (losses) on securities: | |||
| Other-than-temporary impairment (OTTI) losses: | |||
| Total OTTI losses | (7,300) | (6,000) | (19,100) |
| Non-credit losses, net of credit losses recognized on previously recorded non-credit OTTI losses | (700) | 500 | 5,200 |
| Net impairment losses recognized in earnings | (8,000) | (5,500) | (13,900) |
| Net realized gains (losses) on securities | 314,800 | 108,100 | 110,000 |
| Total net realized gains (losses) on securities | 306,800 | 102,600 | 96,100 |
| Fees and other revenues | 281,800 | 266,500 | 252,200 |
| Service revenues | 36,100 | 22,800 | 25,900 |
| Gains (losses) on extinguishment of debt | (1,800) | (100) | 6,400 |
| Total revenues | 17,083,900 | 15,774,600 | 15,215,500 |
| Expenses | |||
| Losses and loss adjustment expenses | 11,948,000 | 10,634,800 | 10,131,300 |
| Policy acquisition costs | 1,436,600 | 1,399,200 | 1,359,900 |
| Other underwriting expenses | 2,206,300 | 2,088,000 | 1,992,300 |
| Investment expenses | 15,400 | 13,500 | 11,900 |
| Service expenses | 36,100 | 19,400 | 21,400 |
| Interest expense | 123,800 | 132,700 | 133,500 |
| Total expenses | 15,766,200 | 14,287,600 | 13,650,300 |
| Net Income | |||
| Income before income taxes | 1,317,700 | 1,487,000 | 1,565,200 |
| Provision for income taxes | 415,400 | 471,500 | 496,900 |
| Net income | 902,300 | 1,015,500 | 1,068,300 |
| Other Comprehensive Income (Loss), Net of Tax: | |||
| Net unrealized gains (losses) on securities: | |||
| Net non-credit related OTTI losses, adjusted for valuation changes | 5,100 | (3,600) | 13,900 |
| Other net unrealized gains (losses) on securities | 174,800 | (80,900) | 323,200 |
| Total net unrealized gains (losses) on securities | 179,900 | (84,500) | 337,100 |
| Net unrealized gains on forecasted transactions | (1,800) | (6,800) | (6,900) |
| Foreign currency translation adjustment | 400 | 100 | 300 |
| Other comprehensive income (loss) | 178,500 | (91,200) | 330,500 |
| Comprehensive income | 1,080,800 | 924,300 | 1,398,800 |
| Computation of Net Income Per Share | |||
| Average shares outstanding - Basic | 603,300 | 632,300 | 657,900 |
| Net effect of dilutive stock-based compensation | 4,500 | 4,600 | 5,400 |
| Total equivalent shares - Diluted | 607,800 | 636,900 | 663,300 |
| Basic: Net income per share | 1.50 | 1.61 | 1.62 |
| Diluted: Net income per share | 1.48 | 1.59 | 1.61 |
| 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 |