Overview Financials News + Filings Key Docs Charts Ownership Insiders
|
|
PROGRESSIVE CORP (PGR)
|
|
| Income Statement |
|
|
|
|
Annual | Quarterly | TTM |
|
| In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 |
| | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
| Revenues: |
| Underwriting Operations | 49,241.2 | 44,368.7 | 39,261.6 | 36,192.4 | 30,933.3 | 25,729.9 | 22,474.0 | 19,899.1 |
| Commercial Lines | | | | 36,192.4 | 30,933.3 | 25,729.9 | 22,474.0 | 19,899.5 |
| Investments | | 2,370.1 | 2,566.6 | 2,071.2 | 415.0 | 612.7 | 530.0 | |
| Fees & Other Revenues | 722.1 | 691.8 | 603.5 | 563.7 | 472.2 | 370.6 | 332.5 | 302.0 |
| Other | | 271.4 | 226.4 | | | | | |
| Total revenues | 49,610.7 | 47,702.0 | 42,658.1 | 39,022.3 | 31,979.0 | 26,839.0 | 23,441.4 | 20,853.8 |
| Revenue growth | 4.0% | 11.8% | 9.3% | 22.0% | 19.2% | 14.5% | 12.4% | 7.5% |
| Loss and loss adjustment expenses | 38,122.7 | 33,627.6 | 25,121.8 | 25,470.5 | 21,721.0 | 18,808.0 | 16,879.6 | 14,342.0 |
| Policy acquisition costs | 3,917.0 | 3,712.8 | 3,273.2 | 3,023.2 | 2,573.7 | 2,124.9 | 1,863.8 | 1,651.8 |
| Other underwriting costs | 5,859.6 | 5,654.7 | 5,570.0 | 4,975.1 | 4,195.8 | 3,480.7 | 2,972.0 | 2,712.1 |
| Investment expenses | 24.3 | 25.5 | 20.0 | 24.6 | 24.3 | 23.9 | 22.4 | 22.8 |
| Other operating expenses | 521.5 | 252.8 | 1,282.9 | 178.9 | 288.1 | 255.8 | 231.2 | 209.5 |
| EBITDA | 1,727.0 | 4,766.0 | 7,722.0 | 5,656.1 | 3,272.0 | 2,113.0 | 1,375.2 | 1,787.1 |
| EBITDA margin | 3.5% | 10.0% | 18.1% | 14.5% | 10.2% | 7.9% | 5.9% | 8.6% |
| Depreciation | 305.6 | 279.7 | 274.9 | 239.8 | 190.4 | 169.9 | 137.4 | 103.7 |
| EBITA | 1,421.4 | 4,486.3 | 7,447.1 | 5,416.3 | 3,081.6 | 1,943.1 | 1,237.8 | 1,683.4 |
| EBITA margin | 2.9% | 9.4% | 17.5% | 13.9% | 9.6% | 7.2% | 5.3% | 8.1% |
| Amortization of intangibles | 31.0 | 57.7 | 56.9 | 66.3 | 72.0 | 66.2 | 62.1 | 46.8 |
| EBIT | 1,390.4 | 4,428.6 | 7,390.2 | 5,350.0 | 3,009.6 | 1,876.9 | 1,175.7 | 1,636.6 |
| EBIT margin | 2.8% | 9.3% | 17.3% | 13.7% | 9.4% | 7.0% | 5.0% | 7.8% |
| Interest income, net [+] | 243.5 | 218.6 | 217.0 | 189.7 | -12.5 | -12.6 | -5.0 | -7.1 |
| Interest expense | 243.5 | 218.6 | 217.0 | 189.7 | 12.5 | 6.8 | 1.7 | 4.0 |
| Interest income | 487.0 | 437.2 | 434.0 | 379.4 | | -5.8 | -3.3 | -3.1 |
| Other income (expense), net | | | | | | 115.7 | 155.8 | 143.0 |
| Pre-tax income | 922.1 | 4,210.0 | 7,173.2 | 5,160.3 | 3,163.6 | 2,138.9 | 1,470.7 | 1,911.6 |
| Income taxes | 200.6 | 859.1 | 1,468.6 | 1,180.3 | 542.6 | 540.8 | 413.5 | 611.1 |
| Tax rate | 21.8% | 20.4% | 20.5% | 22.9% | 17.2% | 25.3% | 28.1% | 32.0% |
| Minority interest | | | | 9.7 | 5.7 | 5.9 | 26.2 | 32.9 |
| Net income | 694.6 | 3,324.0 | 5,677.7 | 3,943.4 | 2,593.9 | 1,592.2 | 1,031.0 | 1,267.6 |
| Net margin | 1.4% | 7.0% | 13.3% | 10.1% | 8.1% | 5.9% | 4.4% | 6.1% |
| |
| Basic EPS | $1.19 | $5.69 | $9.71 | $6.75 | $4.45 | $2.74 | $1.77 | $2.16 |
| Diluted EPS | $1.18 | $5.66 | $9.66 | $6.72 | $4.42 | $2.72 | $1.76 | $2.15 |
| |
| Shares outstanding (basic) | 584.4 | 584.5 | 584.9 | 583.8 | 582.4 | 580.8 | 581.7 | 585.5 |
| Shares outstanding (diluted) | 587.1 | 587.1 | 587.6 | 587.2 | 586.7 | 585.7 | 585.0 | 589.2 |
| |
| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
|