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 Comprehensive Income | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 29, 2016) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Revenues | |||
| Net premiums earned | $ 19,899,100 | 18,398,500 | 17,103,400 |
| Investment income | 454,600 | 408,400 | 422,000 |
| Net realized gains (losses) on securities: | |||
| Other-than-temporary impairment (OTTI) losses: | |||
| Total OTTI losses | (23,800) | (7,900) | (6,000) |
| Non-credit losses, net of credit losses recognized on previously recorded non-credit OTTI losses | 0 | 0 | (100) |
| Net impairment losses recognized in earnings | (23,800) | (7,900) | (6,100) |
| Net realized gains (losses) on securities | 136,500 | 232,100 | 324,500 |
| Total net realized gains (losses) on securities | 112,700 | 224,200 | 318,400 |
| Fees and other revenues | 302,000 | 309,100 | 291,800 |
| Service revenues | 86,300 | 56,000 | 39,600 |
| Gains (losses) on extinguishment of debt | (900) | (4,800) | (4,300) |
| Total revenues | 20,853,800 | 19,391,400 | 18,170,900 |
| Expenses | |||
| Losses and loss adjustment expenses | 14,342,000 | 13,306,200 | 12,472,400 |
| Policy acquisition costs | 1,651,800 | 1,524,000 | 1,451,800 |
| Other underwriting expenses | 2,712,100 | 2,467,100 | 2,350,900 |
| Investment expenses | 22,800 | 18,900 | 18,800 |
| Service expenses | 77,500 | 50,900 | 38,800 |
| Interest expense | 136,000 | 116,900 | 118,200 |
| Total expenses | 18,942,200 | 17,484,000 | 16,450,900 |
| Net Income | |||
| Income before income taxes | 1,911,600 | 1,907,400 | 1,720,000 |
| Provision for income taxes | 611,100 | 626,400 | 554,600 |
| 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 |
| Net Income (Loss) Attributable to Noncontrolling Interest | 32,900 | 0 | 0 |
| Net income attributable to Progressive | 1,267,600 | 1,281,000 | 1,165,400 |
| Other Comprehensive Income (Loss), Net of Tax: | |||
| Net unrealized gains (losses) on securities: | |||
| Net non-credit related OTTI losses, adjusted for valuation changes | 0 | 0 | 300 |
| Other net unrealized gains (losses) on securities | (212,900) | 74,900 | 84,000 |
| Total net unrealized gains (losses) on securities | (212,900) | 74,900 | 84,300 |
| Net unrealized gains on forecasted transactions | (9,700) | (2,600) | (2,000) |
| Foreign currency translation adjustment | (1,200) | (900) | (1,600) |
| Other comprehensive income (loss) | (223,800) | 71,400 | 80,700 |
| Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest | (1,100) | 0 | 0 |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | 1,044,900 | 1,352,400 | 1,246,100 |
| Computation of Net Income Per Share | |||
| Average shares outstanding - Basic (shares) | 585,500 | 590,600 | 599,100 |
| Net effect of dilutive stock-based compensation (shares) | 3,700 | 4,200 | 4,500 |
| Total equivalent shares - Diluted (shares) | 589,200 | 594,800 | 603,600 |
| Basic: Net income per share (USD per share) | 2.16 | 2.17 | 1.95 |
| Diluted: Net income per share (USD per share) | 2.15 | 2.15 | 1.93 |
| 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 |