PROGRESSIVE CORP/OH/ PGR Income Statement

Progressive corp/oh/ (PGR)

Income statement / TTM

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
37,163	36,192	34,491	33,409	32,219	30,933	29,584	28,198	26,877	25,729	24,755	23,934	23,183	22,474	21,769	21,116	20,550	19,899	19,675	19,144	18,662	18,398	17,800	17,562	17,326	17,103	16,864	16,616	16,335	16,018	15,689	15,375	15,099	14,902	14,749	14,608	14,479	14,314	14,410	14,256	14,107	14,012	13,709	13,675	0	0	0
Investment income
1,030	1,042	1,021	976	907	820	728	653	600	563	537	513	489	478	471	469	468	454	440	424	410	408	416	421	424	422	416	418	428	443	454	463	471	480	489	503	513	520	522	513	505	507	539	582	0	0	0
Net realized gains (losses) on securities:
Debt and Equity Securities, Realized Gain (Loss), Excluding Other-than-temporary Impairment
603	334	150	186	109	170	225	162	170	-	181	203	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Debt and Equity Securities, Unrealized Gain (Loss), Excluding Other-than-temporary Impairment
-503	757	34	98	40	-507	0	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Less: portion of OTTI losses recognized in other comprehensive income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Gain (Loss) on Sale of Securities, Net
-	-	-	-	-	-	-	-	-	-	-	-	190	-	110	67	113	136	150	190	153	232	277	269	363	324	308	451	317	314	281	57	85	108	156	236	177	110	80	98	175	67	-1,354	-1,445	0	0	0
Net impairment losses recognized in earnings
39	63	97	81	92	68	39	60	63	64	82	101	87	86	62	14	15	23	31	17	15	7	2	4	5	6	5	3	7	8	7	8	5	5	5	5	12	13	16	22	43	40	37	30	0	0	0
Total net realized gains (losses) on securities
61	1,029	87	204	57	-405	157	-49	-50	49	81	85	85	51	48	53	97	112	119	173	137	224	275	264	357	318	303	447	309	306	274	49	80	102	151	230	165	96	64	75	131	27	-1,392	-1,475	0	0	0
Unrealized Gain (Loss) on Hybrid Instrument, Net
-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total OTTI losses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5	6	4	3	7	7	6	7	5	6	5	6	11	19	26	44	90	80	74	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	1	1	-0	-0	-0	-0	1	-5	-17	-41	0	-	0	0	-	-	-
Fees and other revenues
587	563	533	517	498	472	442	416	389	370	354	345	338	332	322	314	307	302	313	310	310	309	299	299	296	291	283	286	285	281	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Service revenues
204	195	183	174	166	158	151	142	132	126	120	113	106	103	100	97	94	86	80	72	63	56	48	44	41	39	38	36	36	36	34	30	25	22	28	27	26	25	18	18	17	16	15	15	0	0	0
Other Nonoperating Gains (Losses)
-	-	-	-	-	-	-	-	-	-1	0	0	1	1	0	0	0	-	0	0	-	-	0	-	-	-	0	-	-	-1	-1	-1	-0	-0	6	0	0	-	0	-	-	-	0	-	-	-	-
Revenues
39,045	39,022	36,316	35,281	33,848	31,979	31,063	29,359	27,947	26,839	25,848	24,992	24,205	23,441	22,713	22,052	21,516	20,853	20,628	20,120	19,579	19,391	18,834	18,589	18,441	18,170	17,902	17,805	17,394	17,083	16,930	16,317	16,007	15,774	15,671	15,629	15,443	15,215	15,022	14,864	14,761	14,563	12,873	12,798	0	0	0
Expenses
Losses and loss adjustment expenses
25,866	25,470	24,275	23,372	22,609	21,721	20,648	20,175	19,415	18,808	18,253	17,601	17,229	16,879	16,256	15,512	14,886	14,342	14,179	13,817	13,468	13,306	12,972	12,844	12,692	12,472	12,340	12,244	12,171	11,948	11,590	11,271	10,889	10,634	10,539	10,333	10,216	10,131	10,155	10,071	9,991	9,904	9,777	9,788	0	0	0
Policy acquisition costs
3,095	3,023	2,884	2,795	2,688	2,573	2,457	2,334	2,218	2,124	2,046	1,981	1,926	1,863	1,806	1,754	1,712	1,651	1,624	1,576	1,534	1,524	1,484	1,472	1,461	1,451	1,441	1,435	1,435	1,436	1,435	1,428	1,412	1,399	1,390	1,383	1,373	1,359	1,374	1,366	1,361	1,364	1,343	1,350	0	0	0
Other underwriting expenses
5,213	4,975	4,715	4,571	4,386	4,195	4,035	3,817	3,615	3,480	3,278	3,140	3,061	2,972	2,954	2,921	2,817	2,712	2,656	2,557	2,507	2,467	2,413	2,406	2,375	2,350	2,294	2,234	2,215	2,206	2,388	2,306	2,209	2,088	2,041	2,040	2,020	1,992	1,729	1,672	1,616	1,567	1,562	1,539	0	0	0
Investment Income, Investment Expense
23	24	24	24	24	24	23	23	24	23	25	24	23	22	21	21	22	22	20	19	20	18	18	19	18	18	18	16	16	15	14	14	14	13	14	10	11	11	11	14	12	11	10	10	0	0	0
Service expenses
188	178	164	151	142	134	129	122	112	109	105	99	96	92	89	86	83	77	71	64	57	50	44	42	39	38	38	37	36	36	33	28	23	19	19	19	20	21	20	20	20	19	20	20	0	0	0
Interest expense
190	189	188	182	177	166	156	151	153	153	154	152	143	140	137	137	137	136	131	128	122	116	113	113	114	118	122	122	122	123	129	132	133	132	127	126	129	133	137	140	140	139	137	136	0	0	0
Total expenses
34,578	33,862	32,252	31,097	30,028	28,815	27,450	26,626	25,539	24,700	23,863	22,999	22,480	21,970	21,265	20,434	19,660	18,942	18,684	18,164	17,710	17,484	17,047	16,899	16,702	16,450	16,254	16,090	15,998	15,766	15,591	15,182	14,681	14,287	14,133	13,913	13,771	13,650	13,429	13,286	13,142	13,006	12,851	12,846	0	0	0
Net Income
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest
4,467	5,160	4,063	4,183	3,820	3,163	3,612	2,733	2,408	2,138	1,985	1,992	1,724	1,470	1,447	1,617	1,855	1,911	1,943	1,956	1,868	1,907	1,786	1,689	1,738	1,720	1,647	1,715	1,396	1,317	1,339	1,135	1,325	1,487	1,537	1,716	1,671	1,565	1,593	1,578	1,619	1,556	21	-47	0	0	0
Provision for income taxes
871	1,180	898	932	846	542	671	507	510	540	569	585	496	413	438	527	592	611	623	626	613	626	576	542	560	554	533	556	443	415	429	352	415	471	479	547	536	496	519	495	498	499	-46	-61	0	0	0
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
3,596	3,980	3,165	3,251	2,974	2,621	2,941	2,226	1,897	1,598	1,415	1,406	1,228	1,057	1,009	1,090	1,263	1,300	1,246	1,253	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Income (Loss) Attributable to Noncontrolling Interest
11	9	1	0	-1	5	14	3	11	5	16	32	31	26	30	32	33	32	13	5	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Income (Loss) Attributable to Parent
3,584	3,970	3,164	3,250	2,975	2,615	2,926	2,222	1,885	1,592	1,399	1,373	1,197	1,031	978	1,057	1,230	1,267	1,307	1,325	1,255	1,281	1,210	1,146	1,178	1,165	1,114	1,159	953	902	909	783	910	1,015	1,058	1,168	1,135	1,068	1,074	1,082	1,120	1,057	68	13	0	0	0
Other Comprehensive Income (Loss)
Changes in:
Other net unrealized gains (losses) on securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-15	84	-31	-29	74	174	325	-16	88	-80	0	0	0	-	-	-	-	-	-	-	-	-	-
Net non-credit related OTTI losses, adjusted for valuation changes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	2	2	5	5	2	0	-3	0	0	0	-	-	-	-	-	-	-	-	-	-
Total net unrealized gains (losses) on fixed-maturity securities
228	466	780	683	356	-99	-188	-74	68	355	182	194	193	130	279	62	-178	-212	-192	-127	110	74	104	227	-15	84	-31	-26	76	179	330	-13	88	-84	0	0	0	-	-	-	-	-	-	-	-	-	-
Net unrealized losses on forecasted transactions
0	0	0	0	0	0	0	0	-7	-5	-5	-6	1	-1	-1	-1	-1	-9	-9	-10	-11	-2	-2	-2	-2	-2	-1	-1	-1	-1	-2	-6	-6	-6	0	0	0	-	-	-	-	-	-	-	-	-	-
Foreign currency translation adjustment
-	-	-	-	-	-	-	-	-	1	0	0	0	0	0	-0	-0	-1	-2	-1	-1	-0	-0	-0	-1	-1	-1	-0	-0	0	0	-0	0	0	0	0	0	-	-	-	-	-	-	-	-	-	-
Other comprehensive income (loss)
228	467	781	684	357	-98	-187	-72	61	351	177	188	195	129	279	61	-180	-223	-204	-139	98	71	101	224	-18	80	-34	-28	74	178	328	-20	82	-91	0	0	0	-	-	-	-	-	-	-	-	-	-
Other comprehensive (income) loss attributable to NCI
2	4	7	6	3	-3	-5	-4	-2	2	-2	-4	-4	-3	2	5	1	-1	-1	-2	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Comprehensive income attributable to Progressive
3,810	4,432	3,938	3,929	3,329	2,520	2,744	2,154	1,950	1,941	1,579	1,566	1,396	1,164	1,255	1,113	1,048	1,044	1,103	1,188	1,353	1,352	1,312	1,371	1,159	1,246	1,080	1,130	1,028	1,080	1,238	762	992	924	0	0	0	-	-	-	-	-	-	-	-	-	-
Computation of Earnings Per Common Share
Less: Preferred share dividends
26	26	26	26	26	21	14	7	1	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Income (Loss) Available to Common Stockholders, Basic
3,557	3,943	3,137	3,224	2,948	2,593	2,912	2,214	1,884	1,592	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
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