EX-11 21 pgr-20171231exhibit11.htm EXHIBIT 11 Exhibit


Exhibit 11


THE PROGRESSIVE CORPORATION
COMPUTATION OF EARNINGS PER SHARE
(millions - except per share amounts)
 
 
 
 
 
 
 
 
 
Years Ended December 31,
 
 
2017

 
2016

 
2015

Net income attributable to Progressive
 
$
1,592.2

 
$
1,031.0

 
$
1,267.6

 
 
 
 
 
 
 
Computation of Per Share Earnings Attributable to Progressive
 
 
 
 
 
 
Average shares outstanding - Basic
 
580.8

 
581.7

 
585.5

Net effect of dilutive stock-based compensation
 
4.9

 
3.3

 
3.7

Total equivalent shares - Diluted
 
585.7

 
585.0

 
589.2

 
 
 
 
 
 
 
Basic: Earnings per share
 
$
2.74

 
$
1.77

 
$
2.16

Diluted: Earnings per share
 
$
2.72

 
$
1.76

 
$
2.15