PROGRESSIVE CORP/OH/ PGR Income Statement

Progressive corp/oh/ (PGR)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Dec'09	Sep'09	Jun'09	Mar'09	Sep'08	Jun'08
Revenues
Net premiums earned
9,430	9,895	9,012	8,824	8,459	8,194	7,930	7,634	7,174	6,845	6,544	6,313	6,026	5,871	5,723	5,561	5,317	5,166	5,070	4,995	4,666	4,942	4,540	4,513	4,402	4,344	4,303	4,277	4,179	4,105	4,054	3,996	3,861	3,776	3,740	3,719	3,665	3,623	3,599	3,590	3,501	3,719	3,445	3,441	3,406	3,416	3,411
Investment income
241	264	263	261	252	244	218	192	166	152	142	138	129	126	119	114	118	118	117	113	105	104	101	99	103	111	107	102	100	106	109	112	114	118	117	120	123	128	131	130	129	130	122	122	131	163	165
Net realized gains (losses) on securities:
Debt and Equity Securities, Realized Gain (Loss), Excluding Other-than-temporary Impairment
315	149	71	67	46	-35	108	-9	107	-	19	45	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Debt and Equity Securities, Unrealized Gain (Loss), Excluding Other-than-temporary Impairment
-868	221	31	112	392	-502	95	53	-155	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Less: portion of OTTI losses recognized in other comprehensive income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Gain (Loss) on Sale of Securities, Net
-	-	-	-	-	-	-	-	-	-	-	-	52	-	40	32	17	20	-2	77	40	34	38	40	119	79	29	134	80	63	172	0	78	30	-51	28	101	78	29	-30	33	48	46	45	-73	-1,373	-44
Net impairment losses recognized in earnings
0	0	38	0	24	35	22	11	0	6	43	13	1	25	61	0	0	0	13	1	7	7	0	0	0	2	1	1	0	1	0	5	0	0	1	2	1	0	2	8	3	3	7	30	0	0	0
Total net realized gains (losses) on securities
-553	369	65	179	414	-572	182	32	-48	-9	-24	32	51	22	-20	32	17	19	-15	76	33	26	38	40	119	77	27	132	80	62	171	-4	77	29	-52	26	99	77	26	-39	30	45	38	15	-73	-1,373	-44
Unrealized Gain (Loss) on Hybrid Instrument, Net
-	-	-	-	-	-	-	-	-	-	-0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total OTTI losses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	2	1	1	0	1	0	5	0	0	1	3	1	0	1	7	9	6	20	53	0	0	0
Non-credit losses, net of credit losses recognized on previously recorded non-credit OTTI losses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0	0	0	0	0	0	0	-0	0	0	0	0	-6	-	-12	-23	-	-	-
Fees and other revenues
153	160	138	134	130	129	122	116	103	100	96	88	85	84	86	82	78	74	79	74	73	86	75	74	72	76	76	70	68	68	78	69	65	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Service revenues
51	50	51	50	42	38	42	42	34	32	33	32	28	25	26	26	25	22	23	23	17	17	15	14	9	9	11	10	8	7	9	10	8	6	5	6	5	11	4	5	4	4	4	4	3	3	4
Other Nonoperating Gains (Losses)
-	-	-	-	-	-	-	-	-	-1	0	0	0	0	0	1	0	-	-0	0	-	-	-4	-	-	-	-4	-	-	0	-0	-1	-0	0	-0	0	0	-	6	-	-	-	0	-	-	-	-
Revenues
9,323	10,741	9,530	9,450	9,300	8,035	8,495	8,018	7,430	7,119	6,791	6,605	6,321	6,129	5,935	5,819	5,557	5,401	5,273	5,283	4,895	5,176	4,766	4,741	4,707	4,618	4,521	4,593	4,437	4,350	4,423	4,183	4,126	4,197	3,811	3,872	3,893	4,093	3,769	3,686	3,665	3,900	3,611	3,583	3,468	2,210	3,536
Expenses
Losses and loss adjustment expenses
6,155	7,147	6,426	6,138	5,759	5,951	5,523	5,375	4,870	4,879	5,050	4,614	4,263	4,325	4,398	4,243	3,913	3,701	3,654	3,617	3,368	3,539	3,291	3,269	3,205	3,205	3,164	3,117	2,985	3,073	3,068	3,043	2,762	2,716	2,749	2,660	2,508	2,621	2,543	2,543	2,423	2,645	2,459	2,462	2,337	2,517	2,471
Policy acquisition costs
782	822	751	738	710	684	662	630	596	567	540	514	502	489	475	458	440	431	423	417	379	405	375	374	369	365	363	364	358	355	357	364	359	354	350	348	346	345	342	338	333	360	333	334	336	339	340
Other underwriting expenses
1,409	1,332	1,240	1,231	1,171	1,072	1,095	1,046	980	912	877	845	845	709	739	766	755	691	707	662	650	635	609	611	610	581	602	581	585	525	542	562	576	706	460	466	454	660	459	446	426	397	401	390	377	391	379
Investment Income, Investment Expense
5	6	5	6	6	6	5	6	6	5	5	6	5	7	4	5	4	6	4	5	5	4	3	6	4	4	5	4	4	4	3	3	4	2	4	3	3	3	0	4	3	3	2	2	2	2	2
Service expenses
47	46	48	45	38	32	35	37	29	27	28	27	25	23	23	23	21	20	20	20	15	14	13	12	9	8	11	10	8	8	9	9	8	5	5	4	4	5	5	5	5	4	5	4	4	6	5
Interest expense
48	47	47	47	47	46	42	41	36	35	37	43	36	37	35	34	34	34	34	34	32	29	30	29	26	26	30	30	30	30	30	30	31	36	33	31	31	31	31	35	35	35	35	34	33	34	34
Total expenses
8,448	9,402	8,520	8,207	7,732	7,792	7,365	7,137	6,519	6,428	6,540	6,051	5,680	5,592	5,676	5,532	5,170	4,887	4,844	4,758	4,452	4,629	4,324	4,304	4,225	4,193	4,176	4,107	3,974	3,997	4,011	4,015	3,742	3,822	3,602	3,515	3,348	3,667	3,382	3,373	3,227	3,446	3,239	3,229	3,091	3,291	3,234
Net Income
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest
874	1,338	1,010	1,243	1,567	242	1,130	880	910	691	251	554	641	537	258	287	387	514	429	525	443	546	441	437	481	425	345	486	463	353	412	167	384	375	208	357	545	426	387	312	438	454	372	353	376	-1,080	302
Provision for income taxes
175	264	166	264	484	-17	200	178	181	111	36	181	211	139	53	92	128	164	142	156	147	176	145	144	160	125	112	161	154	104	135	49	126	118	57	112	182	127	125	101	143	149	102	103	144	-396	87
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
699	1,074	843	979	1,082	259	930	701	729	580	214	372	430	398	205	194	258	349	286	368	295	-	296	293	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Income (Loss) Attributable to Noncontrolling Interest
6	3	1	-0	4	-4	1	-3	11	4	-9	5	6	14	6	4	0	19	8	5	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Income (Loss) Attributable to Parent
692	1,070	841	979	1,078	264	928	704	718	576	224	367	424	383	198	190	258	330	278	363	295	370	296	293	321	299	232	324	308	249	277	118	257	256	150	245	362	299	261	211	295	305	269	250	232	-684	215
Other Comprehensive Income (Loss)
Changes in:
Other net unrealized gains (losses) on securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0	81	57	-154	99	-34	60	-51	199	116	-280	53	30	-	-	-	-	-	-	-	-	-	-
Net non-credit related OTTI losses, adjusted for valuation changes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0	0	1	0	3	0	-1	-2	-0	-	-	-	-	-	-	-	-	-	-
Total net unrealized gains (losses) on fixed-maturity securities
62	-170	58	277	301	144	-39	-50	-154	54	75	92	132	-117	87	91	69	31	-130	-149	35	51	-65	88	-0	81	57	-154	99	-33	62	-50	202	116	-282	51	29	-	-	-	-	-	-	-	-	-	-
Net unrealized losses on forecasted transactions
0	0	0	0	0	0	0	0	0	0	0	-8	2	-0	-0	-0	-0	-0	-0	-0	-8	-0	-0	-1	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-4	-0	-0	-	-	-	-	-	-	-	-	-	-
Foreign currency translation adjustment
-	-	-	-	-	-	-	-	-	0	0	-0	0	-0	0	-0	0	0	-0	0	-0	-1	-0	0	0	-0	-0	-0	-0	0	0	-0	0	-0	-0	0	0	-	-	-	-	-	-	-	-	-	-
Other comprehensive income (loss)
63	-170	58	277	301	144	-38	-49	-154	55	76	84	135	-118	87	91	69	31	-131	-150	26	50	-66	87	-0	80	56	-155	98	-34	62	-52	202	115	-286	50	29	-	-	-	-	-	-	-	-	-	-
Other comprehensive (income) loss attributable to NCI
0	-1	0	2	2	1	-0	-0	-4	-0	0	1	0	-5	-1	1	2	0	1	-2	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Comprehensive income attributable to Progressive
755	902	899	1,254	1,377	407	890	654	567	632	299	450	558	270	287	280	325	361	145	216	321	420	229	381	320	380	289	169	407	215	339	66	459	372	-136	296	391	-	-	-	-	-	-	-	-	-	-
Computation of Earnings Per Common Share
Less: Preferred share dividends
6	6	6	6	6	6	6	6	1	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Income (Loss) Available to Common Stockholders, Basic
686	1,064	835	972	1,071	257	921	697	716	576	224	367	424	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Average common shares outstanding - Basic
584	584	584	583	583	582	582	582	582	581	581	580	580	579	581	582	583	583	585	585	587	587	589	591	593	597	598	599	600	600	601	604	606	606	626	643	651	654	655	660	661	662	666	669	668	666	667
Average shares outstanding
584	584	584	583	583	582	582	582	582	581	581	580	580	-	581	582	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	655	660	661	-	666	669	668	666	667
Net effect of dilutive stock-based compensation
2	4	3	3	3	5	3	3	3	9	4	3	3	5	3	2	2	3	3	3	3	4	3	4	3	5	4	4	3	5	4	4	3	5	4	4	4	5	5	5	5	6	6	5	3	6	6
Total average equivalent common shares - Diluted
586	588	587	586	586	588	586	585	585	590	585	583	583	584	584	585	585	587	589	589	591	592	593	595	597	602	603	603	604	605	606	608	610	612	631	647	655	659	661	665	666	669	672	674	672	672	673
Basic: Earnings per common share
1.17	1.81	1.43	1.67	1.84	0.44	1.58	1.20	1.23	0.99	0.39	0.63	0.73	0.66	0.34	0.33	0.44	0.56	0.48	0.62	0.50	0.63	0.50	0.50	0.54	0.51	0.39	0.54	0.51	0.42	0.46	0.20	0.42	0.43	0.24	0.38	0.56	0.45	0.40	0.32	0.45	0.47	0.40	0.37	0.35	-1.03	0.32
Diluted: Earnings per common share
1.17	1.81	1.42	1.66	1.83	0.44	1.57	1.19	1.22	0.98	0.38	0.63	0.73	0.65	0.34	0.33	0.44	0.56	0.47	0.62	0.50	0.62	0.50	0.49	0.54	0.49	0.39	0.54	0.51	0.41	0.46	0.19	0.42	0.42	0.24	0.38	0.55	0.45	0.40	0.32	0.44	0.45	0.40	0.37	0.35	-1.03	0.32
Dividends declared per share
-	-	-	-	-	-	-	-	-	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	0.00	0.00