Progressive Corporation (The) (PGR) financial statements (2021 and earlier)

Company profile

Business Address 6300 WILSON MILLS RD
MAYFIELD VILLAGE, OH 44143
State of Incorp. OH
Fiscal Year End December 31
SIC 6331 - Fire, Marine, and Casualty Insurance (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments2,0251,8653,1343,7842,3962,2571,348
Cash and cash equivalents2267026521222410875
Short-term investments1,7991,7962,8693,5732,1722,1491,273
Disposal group, including discontinued operation33395999 
Total current assets:2,0581,9053,1403,7932,4052,2661,348
Noncurrent Assets
Operating lease, right-of-use asset188
Property, plant and equipment1,2141,1321,1201,1771,037961961
Intangible assets, net (including goodwill)681747819882943 
Goodwill453453453449448  
Intangible assets, net (excluding goodwill)228295367433495  
Deferred costs273239295259233207 
Total noncurrent assets:2,3562,1182,2342,3182,2131,168961
Other undisclosed assets50,48242,55333,32727,31625,20122,35422,100
TOTAL ASSETS:54,89546,57538,70133,42829,81925,78824,408
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Other undisclosed liabilities40,99735,53928,91324,98722,06518,85918,219
Total liabilities:40,99735,53928,91324,98722,06518,85918,219
Temporary equity, carrying amount226215504484465  
Stockholders' equity
Stockholders' equity attributable to parent, including:13,67310,8229,2857,9577,2896,9296,190
Additional paid in capital1,5731,4791,3891,3031,2191,1841,142
Accumulated other comprehensive income (loss)342(121)1,2829338001,023952
Retained earnings10,6808,3876,0325,1404,6874,1333,500
Other undisclosed stockholders' equity attributable to parent1,0791,077582580584588596
Total stockholders' equity:13,67310,8229,2857,9577,2896,9296,190
TOTAL LIABILITIES AND EQUITY:54,89546,57538,70133,42829,81925,78824,408

Income statement (P&L) ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues39,02231,97926,83923,44120,85419,39118,171
Financial services revenue25,73022,47419,89918,631 
Cost of revenue(3,023)(2,574)(2,125)(1,864)(1,652)(1,201)1,452
Deferred policy acquisition costs, amortization expense(3,023)(2,574)(2,125)(1,864)(1,652)(1,524)1,452
Financial services costs   323 
Gross profit:35,99929,40524,71421,57819,20218,19019,623
Operating expenses(4,975)(4,196)(3,481)(2,972)(2,712)(3,218)(690)
Operating income:31,02425,21021,23318,60616,49014,97218,933
Nonoperating income (expense)
(Investment Income, Nonoperating)
(25)(24)(24)(22)(23)17038
Interest and debt expense(190)(167)(153)(141)(136)(122)(118)
Other undisclosed loss from continuing operations before equity method investments, income taxes(25,649)(21,855)(18,918)(16,972)(14,420)(13,113)(17,133)
Income from continuing operations before income taxes:5,1603,1642,1391,4711,9121,9071,720
Income tax expense(1,180)(543)(541)(414)(611)(626)(555)
Net income:3,9802,6211,5981,0571,3011,2811,165
Net loss attributable to noncontrolling interest(10)(6)(6)(26)(33)  
Net income attributable to parent:3,9702,6151,5921,0311,2681,2811,165
Preferred stock dividends and other adjustments(27)(21)     
Net income available to common stockholders, diluted:3,9432,5941,5921,0311,2681,2811,165

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income:3,9802,6211,5981,0571,3011,2811,165
Other comprehensive income (loss)  (0)133(224)7181
Other undisclosed comprehensive loss(3,513)(2,720)(1,247)(1,060)   
Comprehensive income (loss):467(99)3511301,0771,3521,246
Comprehensive loss, net of tax, attributable to noncontrolling interest(14)(2)(8)(23)(32)  
Other undisclosed comprehensive income, net of tax, attributable to parent3,9802,6211,5981,057   
Comprehensive income, net of tax, attributable to parent:4,4332,5201,9411,1641,0451,3521,246

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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