Progressive Corporation (The) (PGR) financial statements (2022 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)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,1305,2952,0251,8653,1343,7842,396
Cash and cash equivalents1877722670265212224
Short-term investments9435,2191,7991,7962,8693,5732,172
Disposal group, including discontinued operation11573339599
Total current assets:1,1415,3522,0581,9053,1403,7932,405
Noncurrent Assets
Operating lease, right-of-use asset173166188
Property, plant and equipment1,1371,1061,2141,1321,1201,1771,037
Intangible assets, net (including goodwill)570624681747819882943
Goodwill453453453453453449448
Intangible assets, net (excluding goodwill)117171228295367433495
Deferred costs326301273239295259233
Total noncurrent assets:2,2062,1972,3562,1182,2342,3182,213
Other undisclosed assets67,78656,55050,48242,55333,32727,31625,201
TOTAL ASSETS:71,13264,09854,89546,57538,70133,42829,819
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Other undisclosed liabilities52,90147,06040,99735,53928,91324,98722,065
Total liabilities:52,90147,06040,99735,53928,91324,98722,065
Temporary equity, carrying amount  226215504484465
Stockholders' equity
Stockholders' equity attributable to parent, including:18,23217,03913,67310,8229,2857,9577,289
Additional paid in capital1,7731,6731,5731,4791,3891,3031,219
Accumulated other comprehensive income (loss)41932342(121)1,282933800
Retained earnings15,34013,35510,6808,3876,0325,1404,687
Other undisclosed stockholders' equity attributable to parent1,0781,0791,0791,077582580584
Total stockholders' equity:18,23217,03913,67310,8229,2857,9577,289
TOTAL LIABILITIES AND EQUITY:71,13264,09854,89546,57538,70133,42829,819

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues47,70242,65839,02231,97926,83923,44120,854
Financial services revenue25,73022,47419,899
Cost of revenue
(Deferred Policy Acquisition Costs, Amortization Expense)
(3,713)(3,273)(3,023)(2,574)(2,125)(1,864)(1,652)
Gross profit:43,98939,38535,99929,40524,71421,57819,202
Operating expenses(7,848)(5,570)(4,975)(4,196)(3,481)(2,972)(2,712)
Operating income:36,14133,81531,02425,21021,23318,60616,490
Nonoperating expense
(Investment Income, Nonoperating)
(26)(20)(25)(24)(24)(22)(23)
Interest and debt expense(219)(217)(190)(167)(153)(141)(136)
Other undisclosed loss from continuing operations before equity method investments, income taxes(31,687)(26,405)(25,649)(21,855)(18,918)(16,972)(14,420)
Income from continuing operations before income taxes:4,2107,1735,1603,1642,1391,4711,912
Income tax expense(859)(1,469)(1,180)(543)(541)(414)(611)
Net income:3,3515,7053,9802,6211,5981,0571,301
Net loss attributable to noncontrolling interest  (10)(6)(6)(26)(33)
Net income attributable to parent:3,3515,7053,9702,6151,5921,0311,268
Preferred stock dividends and other adjustments(27)(27)(27)(21)   
Net income available to common stockholders, diluted:3,3245,6783,9432,5941,5921,0311,268

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income:3,3515,7053,9802,6211,5981,0571,301
Other comprehensive income (loss)    (0)133(224)
Other undisclosed comprehensive loss(4,242)(5,117)(3,513)(2,720)(1,247)(1,060) 
Comprehensive income (loss):(891)587467(99)3511301,077
Comprehensive loss, net of tax, attributable to noncontrolling interest  (14)(2)(8)(23)(32)
Other undisclosed comprehensive income, net of tax, attributable to parent3,3515,7053,9802,6211,5981,057 
Comprehensive income, net of tax, attributable to parent:2,4606,2924,4332,5201,9411,1641,045

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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