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Consolidated Statements of Comprehensive Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenues        
Net premiums earned $ 8,824.7 $ 7,634.2 $ 17,284.5 $ 14,808.2
Investment income 261.3 192.1 514.2 358.4
Net realized gains (losses) on securities:        
Net realized gains (losses) on security sales 67.5 (9.6) 113.6 97.4
Net holding period gains (losses) on securities 112.4 53.5 505.1 (101.7)
Net impairment losses recognized in earnings 0.0 (11.1) (24.3) (11.1)
Total net realized gains (losses) on securities 179.9 32.8 594.4 (15.4)
Fees and other revenues 134.8 116.0 265.0 219.8
Service revenues 50.0 42.9 92.6 77.1
Total revenues 9,450.7 8,018.0 18,750.7 15,448.1
Expenses        
Losses and loss adjustment expenses 6,138.1 5,375.3 11,897.1 10,246.1
Policy acquisition costs 738.6 630.8 1,449.2 1,227.0
Other underwriting expenses 1,231.5 1,046.9 2,402.7 2,027.1
Investment expenses 6.2 6.2 12.4 12.2
Service expenses 45.3 37.0 83.4 66.3
Interest expense 47.4 41.7 94.8 78.5
Total expenses 8,207.1 7,137.9 15,939.6 13,657.2
Net Income        
Income before income taxes 1,243.6 880.1 2,811.1 1,790.9
Provision for income taxes 264.6 178.9 749.3 359.9
Net income 979.0 701.2 2,061.8 1,431.0
Net (income) loss attributable to noncontrolling interest (NCI) 0.4 3.0 (4.0) (8.8)
Net income attributable to Progressive 979.4 704.2 2,057.8 1,422.2
Other Comprehensive Income (Loss)        
Total net unrealized gains (losses) on fixed-maturity securities 277.4 (50.1) 578.5 (204.6)
Net unrealized losses on forecasted transactions 0.2 0.2 0.4 0.4
Other comprehensive income (loss) 277.6 (49.9) 578.9 (204.2)
Other comprehensive (income) loss attributable to NCI (2.6) 0.6 (4.9) 4.6
Comprehensive income attributable to Progressive 1,254.4 654.9 2,631.8 1,222.6
Computation of Earnings Per Common Share        
Net income attributable to Progressive 979.4 704.2 2,057.8 1,422.2
Less: Preferred share dividends 6.7 6.7 13.4 7.9
Net Income (Loss) Available to Common Stockholders, Basic $ 972.7 $ 697.5 $ 2,044.4 $ 1,414.3
Average common shares outstanding - Basic 583.6 582.0 583.5 582.0
Net effect of dilutive stock-based compensation 3.3 3.8 3.2 3.6
Total average equivalent common shares - Diluted 586.9 585.8 586.7 585.6
Basic: Earnings per common share $ 1.67 $ 1.20 $ 3.50 $ 2.43
Diluted: Earnings per common share $ 1.66 $ 1.19 $ 3.48 $ 2.42