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: 2017 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 27, 2018) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Revenues | |||
| Net premiums earned | $ 25,729,900 | 22,474,000 | 19,899,100 |
| Investment income | 563,100 | 478,900 | 454,600 |
| Net realized gains (losses) on securities: | |||
| Net impairment losses recognized in earnings | (64,500) | (86,800) | (23,800) |
| Net realized gains (losses) on securities | 114,100 | 137,900 | 136,500 |
| Total net realized gains (losses) on securities | 49,600 | 51,100 | 112,700 |
| Fees and other revenues | 370,600 | 332,500 | 302,000 |
| Service revenues | 126,800 | 103,300 | 86,300 |
| Other (gains) losses | (1,000) | 1,600 | (900) |
| Total revenues | 26,839,000 | 23,441,400 | 20,853,800 |
| Expenses | |||
| Losses and loss adjustment expenses | 18,808,000 | 16,879,600 | 14,342,000 |
| Policy acquisition costs | 2,124,900 | 1,863,800 | 1,651,800 |
| Other underwriting expenses | 3,480,700 | 2,972,000 | 2,712,100 |
| Investment expenses | 23,900 | 22,400 | 22,800 |
| Service expenses | 109,500 | 92,000 | 77,500 |
| Interest expense | 153,100 | 140,900 | 136,000 |
| Total expenses | 24,700,100 | 21,970,700 | 18,942,200 |
| Net Income | |||
| Income before income taxes | 2,138,900 | 1,470,700 | 1,911,600 |
| Provision for income taxes | 540,800 | 413,500 | 611,100 |
| Net income | 1,598,100 | 1,057,200 | 1,300,500 |
| Net (income) loss attributable to noncontrolling interest (NCI) | (5,900) | (26,200) | (32,900) |
| Net income attributable to Progressive | 1,592,200 | 1,031,000 | 1,267,600 |
| Other Comprehensive Income (Loss) | |||
| Changes in: | |||
| Total net unrealized gains on securities | 355,400 | 130,600 | (212,900) |
| Net unrealized losses on forecasted transactions | (5,400) | (1,200) | (9,700) |
| Foreign currency translation adjustment | 1,100 | 400 | (1,200) |
| Other comprehensive income (loss) | 351,100 | 129,800 | (223,800) |
| Other comprehensive (income) loss attributable to NCI | (2,300) | 3,200 | 1,100 |
| Comprehensive income attributable to Progressive | 1,941,000 | 1,164,000 | 1,044,900 |
| Computation of Per Share Earnings Attributable to Progressive | |||
| Average shares outstanding Basic | 580,800 | 581,700 | 585,500 |
| Net effect of dilutive stock-based compensation | 4,900 | 3,300 | 3,700 |
| Total average equivalent shares Diluted | 585,700 | 585,000 | 589,200 |
| Basic: Earnings per share (usd per share) | 2.74 | 1.77 | 2.16 |
| Diluted: Earnings per share (usd per share) | 2.72 | 1.76 | 2.15 |
| External Links | |
| PROGRESSIVE CORP/OH/ (PGR) Fiscal Year 2017 | |
| 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 |