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)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments5,2952,0251,8653,1343,7842,3962,257
Cash and cash equivalents7722670265212224108
Short-term investments5,2191,7991,7962,8693,5732,1722,149
Disposal group, including discontinued operation5733395999
Total current assets:5,3522,0581,9053,1403,7932,4052,266
Noncurrent Assets
Operating lease, right-of-use asset166188
Property, plant and equipment1,1061,2141,1321,1201,1771,037961
Intangible assets, net (including goodwill)624681747819882943 
Goodwill453453453453449448 
Intangible assets, net (excluding goodwill)171228295367433495 
Deferred costs301273239295259233207
Total noncurrent assets:2,1972,3562,1182,2342,3182,2131,168
Other undisclosed assets56,55050,48242,55333,32727,31625,20122,354
TOTAL ASSETS:64,09854,89546,57538,70133,42829,81925,788
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Other undisclosed liabilities47,06040,99735,53928,91324,98722,06518,859
Total liabilities:47,06040,99735,53928,91324,98722,06518,859
Temporary equity, carrying amount 226215504484465 
Stockholders' equity
Stockholders' equity attributable to parent, including:17,03913,67310,8229,2857,9577,2896,929
Additional paid in capital1,6731,5731,4791,3891,3031,2191,184
Accumulated other comprehensive income (loss)932342(121)1,2829338001,023
Retained earnings13,35510,6808,3876,0325,1404,6874,133
Other undisclosed stockholders' equity attributable to parent1,0791,0791,077582580584588
Total stockholders' equity:17,03913,67310,8229,2857,9577,2896,929
TOTAL LIABILITIES AND EQUITY:64,09854,89546,57538,70133,42829,81925,788

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

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues42,65839,02231,97926,83923,44120,85419,391
Financial services revenue25,73022,47419,89918,631
Cost of revenue(3,273)(3,023)(2,574)(2,125)(1,864)(1,652)(1,201)
Deferred policy acquisition costs, amortization expense(3,273)(3,023)(2,574)(2,125)(1,864)(1,652)(1,524)
Financial services costs   323
Gross profit:39,38535,99929,40524,71421,57819,20218,190
Operating expenses(5,570)(4,975)(4,196)(3,481)(2,972)(2,712)(3,218)
Operating income:33,81531,02425,21021,23318,60616,49014,972
Nonoperating income (expense)
(Investment Income, Nonoperating)
(20)(25)(24)(24)(22)(23)170
Interest and debt expense(217)(190)(167)(153)(141)(136)(122)
Other undisclosed loss from continuing operations before equity method investments, income taxes(26,405)(25,649)(21,855)(18,918)(16,972)(14,420)(13,113)
Income from continuing operations before income taxes:7,1735,1603,1642,1391,4711,9121,907
Income tax expense(1,469)(1,180)(543)(541)(414)(611)(626)
Net income:5,7053,9802,6211,5981,0571,3011,281
Net loss attributable to noncontrolling interest (10)(6)(6)(26)(33) 
Net income attributable to parent:5,7053,9702,6151,5921,0311,2681,281
Preferred stock dividends and other adjustments(27)(27)(21)    
Net income available to common stockholders, diluted:5,6783,9432,5941,5921,0311,2681,281

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income:5,7053,9802,6211,5981,0571,3011,281
Other comprehensive income (loss)   (0)133(224)71
Other undisclosed comprehensive loss(5,117)(3,513)(2,720)(1,247)(1,060)  
Comprehensive income (loss):587467(99)3511301,0771,352
Comprehensive loss, net of tax, attributable to noncontrolling interest (14)(2)(8)(23)(32) 
Other undisclosed comprehensive income, net of tax, attributable to parent5,7053,9802,6211,5981,057  
Comprehensive income, net of tax, attributable to parent:6,2924,4332,5201,9411,1641,0451,352

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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