← PROGRESSIVE CORP/OH/
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Net Income (Loss) Attributable to Parent | $1.0b | $1.6b | $2.6b | $4.0b | $5.7b | $3.4b | $721.5m | $3.9b | $8.5b | $11.3b | |
| Net Income (Loss) Available to Common Stockholders, Basic | $1.1b | $1.6b | $2.6b | $3.9b | $5.7b | $3.3b | $694.6m | $3.9b | $8.5b | $11.3b | |
| Net Income (Loss) Attributable to Noncontrolling Interest | $26.2m | $5.9m | $5.7m | $9.7m | $0 | $0 | — | — | — | — | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $1.1b | $1.6b | $2.6b | $4.0b | $5.7b | $3.4b | — | — | — | — | |
| Amortization of Intangible Assets | $62.1m | $66.2m | $72.0m | $66.3m | $56.9m | $57.7m | $31.0m | $14.2m | — | — | |
| Amortization of equity-based compensation | $85.2m | $95.4m | $77.2m | $90.2m | $89.4m | $100.7m | $122.7m | $121.3m | $122.0m | $132.0m | |
| Deferred Policy Acquisition Costs, Amortization Expense | $1.9b | $2.1b | $2.6b | $3.0b | $3.3b | $3.7b | $3.9b | $4.7b | $5.4b | $6.1b | |
| Depreciation | $137.4m | $169.9m | $190.4m | $239.8m | $274.9m | $279.7m | $305.6m | $285.5m | $284.0m | $313.0m | |
| Net amortization (accretion) of fixed-income securities | $77.2m | $86.2m | $34.3m | $33.3m | $100.9m | $130.3m | ($25.2m) | $41.4m | ($30.0m) | ($124.0m) | |
| Goodwill, Impairment Loss | $0 | — | — | — | — | — | $224.8m | $0 | $0 | — | |
| Share-based Payment Arrangement, Expense | — | — | — | — | — | — | — | — | — | $132.0m | |
| Gain (Loss) on Disposition of Business | ($4.5m) | $0 | $0 | — | — | — | — | — | — | — | |
| Gain (Loss) on Disposition of Property Plant Equipment | ($6.6m) | ($7.2m) | ($32.1m) | ($11.0m) | ($12.5m) | $3.6m | $600k | ($36.2m) | ($13.0m) | ($16.0m) | |
| Gain (Loss) on Extinguishment of Debt | $1.6m | — | — | — | — | — | — | — | — | — | |
| Income Tax Expense (Benefit) | $413.5m | $540.8m | $542.6m | $1.2b | $1.5b | $859.1m | $200.6m | $1.0b | $2.2b | $2.9b | |
| Additional Financial Items | |||||||||||
| Accounts payable, accrued expenses, and other liabilities | $308.9m | $400.0m | $746.6m | $611.6m | $328.9m | $399.7m | $199.5m | $699.6m | $1.2b | $1.6b | |
| Acquisition of treasury shares acquired in open market | ($167.4m) | ($4.9m) | ($400k) | ($6.9m) | ($42.9m) | ($155.8m) | ($22.3m) | ($45.7m) | ($13.0m) | ($74.0m) | |
| Acquisition of treasury shares for equity award tax liabilities | ($25.1m) | ($57.6m) | ($78.6m) | ($84.4m) | ($68.7m) | ($67.2m) | ($76.7m) | ($95.0m) | ($121.0m) | ($92.0m) | |
| Debt Securities, Available-for-sale, Allowance for Credit Loss, Not Previously Recorded | — | — | — | — | $0 | $0 | $0 | $0 | $0 | $0 | |
| Debt Securities, Available-for-sale, Realized Gain (Loss) | — | — | — | — | — | — | ($579.4m) | ($249.1m) | ($441.0m) | $157.0m | |
| Debt Securities, Trading, Gain (Loss) | — | — | $0 | — | — | — | — | — | — | — | |
| Debt and Equity Securities, Gain (Loss) | — | — | ($405.5m) | $1.0b | $1.6b | $1.5b | ($1.9b) | $353.1m | $264.0m | $727.0m | |
| Debt and Equity Securities, Realized Gain (Loss) | — | — | — | — | — | — | $196.5m | $13.7m | ($414.0m) | $248.0m | |
| Debt and Equity Securities, Unrealized Gain (Loss) | — | — | — | — | — | — | ($2.1b) | $348.4m | $679.0m | $480.0m | |
| Deferred acquisition costs | ($103.8m) | ($129.3m) | ($171.1m) | ($104.9m) | ($180.7m) | ($118.4m) | ($188.8m) | ($143.0m) | ($274.0m) | ($83.0m) | |
| Equity Securities, FV-NI, Gain (Loss) | — | — | ($232.4m) | — | $750.1m | $1.3b | ($1.2b) | $544.2m | $645.0m | $553.0m | |
| Equity Securities, FV-NI, Realized Gain (Loss) | — | — | $265.1m | $86.7m | $43.6m | $375.8m | $775.9m | $241.2m | ($9.0m) | $91.0m | |
| Equity Securities, FV-NI, Unrealized Gain (Loss) | — | — | ($497.5m) | $739.9m | $706.5m | $907.6m | ($2.0b) | $303.0m | $654.0m | $462.0m | |
| Equity securities | $0 | $50.0m | $26.6m | $49.9m | $113.8m | $223.1m | $83.6m | $65.2m | $110.0m | $275.0m | |
| Fixed maturities | $4.9b | $5.2b | $5.1b | $6.1b | $7.1b | $7.0b | $5.4b | $5.0b | $7.0b | $8.5b | |
| Goodwill | $449.4m | $452.7m | $452.7m | $452.7m | $452.7m | $452.7m | $227.9m | $227.9m | $228.0m | — | |
| Income taxes | ($55.7m) | ($172.6m) | ($158.7m) | $227.2m | ($23.1m) | ($86.0m) | ($515.3m) | $181.2m | ($358.0m) | ($200.0m) | |
| Liability for Unpaid Claims and Claims Adjustment Expense, Incurred Claims | $16.9b | $18.8b | $21.7b | $25.5b | $25.1b | $33.6b | $38.1b | $45.7b | $49.1b | $54.0b | |
| Loss and loss adjustment expense reserves | $1.3b | $1.7b | $2.3b | $2.7b | $2.2b | $4.8b | $4.2b | $4.0b | $4.7b | $4.3b | |
| Net change in unsettled security transactions | — | — | — | — | $83.6m | $47.9m | ($177.8m) | ($11.2m) | $171.0m | $75.0m | |
| Net realized (gains) losses on securities | ($51.1m) | ($49.6m) | $405.5m | ($1.0b) | ($1.6b) | ($1.5b) | $1.9b | ($353.1m) | ($264.0m) | ($727.0m) | |
| Other, net | ($106.4m) | ($134.8m) | ($57.7m) | ($260.8m) | ($2.9m) | $26.1m | ($104.7m) | ($255.0m) | ($301.0m) | ($98.0m) | |
| Premiums receivable | ($518.5m) | ($913.2m) | ($1.1b) | ($1.0b) | ($652.8m) | ($1.1b) | ($1.0b) | ($1.5b) | ($2.4b) | ($993.0m) | |
| Prepaid reinsurance premiums | $48.8m | ($32.8m) | ($106.4m) | ($316.8m) | $258.4m | ($74.9m) | $162.1m | $45.7m | ($99.0m) | $152.0m | |
| Proceeds from Stock Options Exercised | $0 | $500k | $3.3m | $1.6m | $7.3m | $0 | $0 | — | — | — | |
| Realized Investment Gains (Losses) | $51.1m | $49.6m | ($405.5m) | $1.0b | $1.6b | $1.5b | ($1.9b) | $353.1m | $264.0m | $727.0m | |
| Redemption of preferred shares | — | — | — | — | — | — | $0 | $0 | ($500.0m) | $0 | |
| Reinsurance recoverables | ($388.2m) | ($388.6m) | ($422.7m) | ($682.8m) | ($640.5m) | ($508.7m) | ($851.6m) | $738.2m | $329.0m | $682.0m | |
| Unearned premiums | $830.7m | $1.4b | $1.8b | $1.7b | $1.0b | $2.1b | $1.7b | $2.8b | $3.7b | $1.4b | |
| Derivative, Gain (Loss) on Derivative, Net | — | — | $0 | — | $1.4m | $0 | $0 | — | — | — | |
| Gain (Loss) on Derivative Instruments, Net, Pretax | ($20.0m) | $0 | — | — | — | — | — | — | — | — | |
| Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | — | $200k | ($800k) | ($800k) | ($800k) | — | — | — | — | — | |
| Net Cash Provided by (Used in) Operating Activities | $2.7b | $3.8b | $6.3b | $6.3b | $6.9b | $7.8b | $6.8b | $10.6b | $15.1b | $17.5b | |
| Cash flows from investing activities: | |||||||||||
| Payments to Acquire Property, Plant, and Equipment | $215.0m | $155.7m | $266.0m | $363.5m | $223.5m | $243.5m | $292.0m | $252.0m | $285.0m | $348.0m | |
| Payments to Acquire Businesses, Net of Cash Acquired | $0 | — | $0 | $0 | — | $313.2m | $0 | $0 | — | — | |
| Net (purchases) sales of short-term investments | ($1.4b) | $727.6m | $1.1b | $31.5m | ($3.4b) | $4.4b | ($1.9b) | $1.2b | $1.2b | ($9.3b) | |
| Net Cash Provided by (Used in) Investing Activities | ($2.5b) | ($3.4b) | ($7.3b) | ($4.3b) | ($6.1b) | ($3.1b) | ($8.0b) | ($10.8b) | ($13.7b) | ($14.5b) | |
| Cash flows from financing activities: | |||||||||||
| Net proceeds from debt issuance | $495.6m | $841.1m | $1.1b | $0 | $986.3m | $0 | $1.5b | $496.3m | $0 | $0 | |
| Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale | — | — | — | — | — | $7.0b | $5.4b | $5.0b | $7.0b | $8.5b | |
| Repayments of Long-term Debt | $25.5m | $49.0m | — | — | — | $500.0m | $0 | $0 | — | — | |
| Payments for Repurchase of Common Stock | $192.5m | — | — | — | — | — | — | — | — | — | |
| Payments of Ordinary Dividends, Common Stock | $519.0m | $395.4m | $654.9m | $1.6b | $1.6b | $3.7b | $234.0m | $234.0m | $674.0m | $2.9b | |
| Dividends Payable | $395.4m | $655.1m | $1.5b | — | $2.7b | $58.5m | — | — | — | $8.0b | |
| Dividends paid to common shareholders | $519 | $395 | $655 | ($2k) | ($2k) | ($4k) | ($234) | ($234) | ($674) | ($3k) | |
| Dividends paid to preferred shareholders | $0 | $0 | ($13.5m) | ($26.8m) | ($26.8m) | ($26.8m) | ($26.8m) | ($43.6m) | ($8.0m) | $0 | |
| Net Cash Provided by (Used in) Financing Activities | ($250.4m) | ($300.9m) | $846.7m | ($1.8b) | ($938.8m) | ($4.5b) | $1.1b | $78.0m | ($1.3b) | ($3.0b) | |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $2.0m | $48.9m | $0 | $0 | ($150.9m) | $125.6m | $18.8m | ($121.3m) | $54.0m | ($16.0m) | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $2.0m | $48.9m | ($200.3m) | $152.4m | ($150.9m) | $125.6m | $18.8m | ($121.3m) | $54.0m | ($16.0m) | |
| Increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents | $2.0m | $48.9m | ($200.3m) | $152.4m | ($150.9m) | $125.6m | $18.8m | ($121.3m) | $54.0m | ($16.0m) | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $2.0m | $275.3m | $75.0m | $227.4m | $76.5m | $202.1m | $220.9m | $99.6m | $154.0m | $138.0m | |
| Cash, cash equivalents, restricted cash, and restricted cash equivalents – beginning of year | $226.4m | $275.3m | $75.0m | $227.4m | $76.5m | $202.1m | $220.9m | $99.6m | $154.0m | $138.0m | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | — | — | — | — | — | $224.0m | $228.9m | $264.9m | $276.0m | $276.0m | |
| Income Taxes Paid, Net | — | — | — | — | — | — | — | — | — | $3.1b |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.