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: 2016 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2016 10-K (Filed: Mar 1, 2017) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Revenues | |||
| Net premiums earned | $ 22,474,000 | 19,899,100 | 18,398,500 |
| Investment income | 478,900 | 454,600 | 408,400 |
| Net realized gains (losses) on securities: | |||
| Net impairment losses recognized in earnings | 86,800 | 23,800 | 7,900 |
| Net realized gains (losses) on securities | 137,900 | 136,500 | 232,100 |
| Total net realized gains (losses) on securities | 51,100 | 112,700 | 224,200 |
| Fees and other revenues | 332,500 | 302,000 | 309,100 |
| Service revenues | 103,300 | 86,300 | 56,000 |
| Gains (losses) on extinguishment of debt | 1,600 | (900) | (4,800) |
| Total revenues | 23,441,400 | 20,853,800 | 19,391,400 |
| Expenses | |||
| Losses and loss adjustment expenses | 16,879,600 | 14,342,000 | 13,306,200 |
| Policy acquisition costs | 1,863,800 | 1,651,800 | 1,524,000 |
| Other underwriting expenses | 2,972,000 | 2,712,100 | 2,467,100 |
| Investment expenses | 22,400 | 22,800 | 18,900 |
| Service expenses | 92,000 | 77,500 | 50,900 |
| Interest expense | 140,900 | 136,000 | 116,900 |
| Total expenses | 21,970,700 | 18,942,200 | 17,484,000 |
| Net Income | |||
| Income before income taxes | 1,470,700 | 1,911,600 | 1,907,400 |
| Provision for income taxes | 413,500 | 611,100 | 626,400 |
| Net income | 1,057,200 | 1,300,500 | 1,281,000 |
| Net (income) loss attributable to noncontrolling interest (NCI) | (26,200) | (32,900) | 0 |
| Net income attributable to Progressive | 1,031,000 | 1,267,600 | 1,281,000 |
| Other Comprehensive Income (Loss) | |||
| Changes in: | |||
| Total net unrealized gains (losses) on securities | 130,600 | (212,900) | 74,900 |
| Net unrealized losses on forecasted transactions | (1,200) | (9,700) | (2,600) |
| Foreign currency translation adjustment | 400 | (1,200) | (900) |
| Other comprehensive income (loss) | 129,800 | (223,800) | 71,400 |
| Other comprehensive (income) loss attributable to NCI | 3,200 | 1,100 | 0 |
| Comprehensive income attributable to Progressive | 1,164,000 | 1,044,900 | 1,352,400 |
| Computation of Per Share Earnings Attributable to Progressive | |||
| Average shares outstanding Basic | 581,700 | 585,500 | 590,600 |
| Net effect of dilutive stock-based compensation | 3,300 | 3,700 | 4,200 |
| Total average equivalent shares Diluted | 585,000 | 589,200 | 594,800 |
| Basic: Earnings per share (usd per share) | 1.77 | 2.16 | 2.17 |
| Basic: Earnings per share (usd per share | 1.76 | 2.15 | 2.15 |
| External Links | |
| PROGRESSIVE CORP/OH/ (PGR) Fiscal Year 2016 | |
| 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 |