Progressive corp/oh/ (PGR)
Income statement / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09Dec'08Dec'07
Revenues
Net premiums earned

36,192

30,933

25,729

22,474

19,899

18,398

17,103

16,018

14,902

14,314

14,012

13,631

13,877

Investment income

1,042

820

563

478

454

408

422

443

480

520

507

637

680

Net realized gains (losses) on securities:
Debt and Equity Securities, Realized Gain (Loss), Excluding Other-than-temporary Impairment

334

170

115

155

-

-

-

-

-

-

-

-

-

Debt and Equity Securities, Unrealized Gain (Loss), Excluding Other-than-temporary Impairment

757

-507

-1

-17

-

-

-

-

-

-

-

-

-

Less: portion of OTTI losses recognized in other comprehensive income

-

-

-

-

-

-

-

-

-

-

-

-

0

Gain (Loss) on Sale of Securities, Net

-

-

-

-

136

232

324

314

108

110

67

-1,445

106

Net impairment losses recognized in earnings

63

68

64

86

23

7

6

8

5

13

40

0

0

Total net realized gains (losses) on securities

1,029

-405

49

51

112

224

318

306

102

96

27

-1,445

106

Total OTTI losses

-

-

-

-

-

-

6

7

6

19

80

0

0

Non-credit losses, net of credit losses recognized on previously recorded non-credit OTTI losses

-

-

-

-

-

-

0

0

-0

-5

-40

0

-

Fees and other revenues

563

472

370

332

302

309

291

281

266

252

-

-

-

Service revenues

195

158

126

103

86

56

39

36

22

25

16

16

22

Other Nonoperating Gains (Losses)

0

0

-1

1

-0

-4

-4

-1

-0

6

0

0

-

Revenues

39,022

31,979

26,839

23,441

20,853

19,391

18,170

17,083

15,774

15,215

14,563

12,840

14,686

Expenses
Losses and loss adjustment expenses

25,470

21,721

18,808

16,879

14,342

13,306

12,472

11,948

10,634

10,131

9,904

10,015

9,926

Policy acquisition costs

3,023

2,573

2,124

1,863

1,651

1,524

1,451

1,436

1,399

1,359

1,364

1,358

1,399

Other underwriting expenses

4,975

4,195

3,480

2,972

2,712

2,467

2,350

2,206

2,088

1,992

1,567

1,523

1,526

Investment Income, Investment Expense

24

24

23

22

22

18

18

15

13

11

11

8

12

Service expenses

178

134

109

92

77

50

38

36

19

21

19

20

20

Interest expense

189

166

153

140

136

116

118

123

132

133

139

136

108

Total expenses

33,862

28,815

24,700

21,970

18,942

17,484

16,450

15,766

14,287

13,650

13,006

13,062

12,993

Net Income
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest

5,160

3,163

2,138

1,470

1,911

1,907

1,720

1,317

1,487

1,565

1,556

-222

1,693

Provision for income taxes

1,180

542

540

413

611

626

554

415

471

496

499

-152

510

Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

3,980

2,621

1,598

1,057

1,300

1,281

1,165

-

-

-

-

-

-

Net Income (Loss) Attributable to Noncontrolling Interest

9

5

5

26

32

0

0

-

-

-

-

-

-

Net Income (Loss) Attributable to Parent

3,970

2,615

1,592

1,031

1,267

1,281

1,165

902

1,015

1,068

1,057

-70

1,182

Other Comprehensive Income (Loss)
Changes in:
Other net unrealized gains (losses) on securities

-

-

-

-

-

-

84

174

-80

323

712

-

-

Net non-credit related OTTI losses, adjusted for valuation changes

-

-

-

-

-

-

0

5

-3

13

-15

-

-

Total net unrealized gains (losses) on fixed-maturity securities

466

-99

355

130

-212

74

84

179

-84

337

696

-

-

Net unrealized losses on forecasted transactions

0

0

-5

-1

-9

-2

-2

-1

-6

-6

-3

-

-

Foreign currency translation adjustment

0

0

1

0

-1

-0

-1

0

0

0

1

-

-

Other comprehensive income (loss)

467

-98

351

129

-223

71

80

178

-91

330

694

-

-

Other comprehensive (income) loss attributable to NCI

4

-3

2

-3

-1

0

0

-

-

-

-

-

-

Comprehensive income attributable to Progressive

4,432

2,520

1,941

1,164

1,044

1,352

1,246

1,080

924

1,398

1,752

-

-

Computation of Earnings Per Common Share
Less: Preferred share dividends

26

21

0

0

-

-

-

-

-

-

-

-

-

Net Income (Loss) Available to Common Stockholders, Basic

3,943

2,593

1,592

1,031

-

-

-

-

-

-

-

-

-

Average common shares outstanding - Basic

583

582

580

581

585

590

599

603

632

657

666

668

710

Average shares outstanding

583

582

580

581

585

-

-

-

-

-

-

668

710

Net effect of dilutive stock-based compensation

3

4

4

3

3

4

4

4

4

5

5

5

8

Total average equivalent common shares - Diluted

587

586

585

585

589

594

603

607

636

663

672

673

718

Basic: Earnings per common share

6.75

4.45

2.74

1.77

2.16

2.17

1.95

1.50

1.61

1.62

1.59

-0.10

1.66

Diluted: Earnings per common share

6.72

4.42

2.72

1.76

2.15

2.15

1.93

1.48

1.59

1.61

1.57

-0.10

1.65