PROGRESSIVE CORP/OH/ (PGR) FY2024 Annual Balance Sheet

PROGRESSIVE CORP/OH/ (PGR) FY2024 Annual Balance Sheet

Balance sheet as of 2024-12-31. The chart shows assets, liabilities and equity at that date.

Assets

105,745,000,000 US dollars

Liabilities

80,154,000,000 US dollars

Equity

25,591,000,000 US dollars

Fixed maturities (amortized cost: $77,126 and $62,442)

75,332,000,000 US dollars

Premiums receivable, net of allowance for credit losses of $460 and $369

14,369,000,000 US dollars

Reinsurance recoverables

4,765,000,000 US dollars

Common equities (cost: $745 and $706)

3,575,000,000 US dollars

Deferred acquisition costs

1,961,000,000 US dollars

Other assets

1,559,000,000 US dollars

Net federal deferred income taxes

954,000,000 US dollars

Property and equipment, net of accumulated depreciation of $1,461 and $1,655

790,000,000 US dollars

Nonredeemable preferred stocks (cost: $756 and $977)

728,000,000 US dollars

Short-term investments (amortized cost: $615 and $1,790)

615,000,000 US dollars

Accrued investment income

594,000,000 US dollars

Prepaid reinsurance premiums

349,000,000 US dollars

Cash and cash equivalents

143,000,000 US dollars

Restricted cash and cash equivalents

11,000,000 US dollars

Loss and loss adjustment expense reserves

39,057,000,000 US dollars

Unearned premiums

23,858,000,000 US dollars

Accounts payable, accrued expenses, and other liabilities

10,346,000,000 US dollars

Debt

6,893,000,000 US dollars

Retained earnings

24,283,000,000 US dollars

Paid-in capital

2,145,000,000 US dollars

Common shares, $1.00 par value (authorized 900; issued 798, including treasury shares of 212 and 213)

586,000,000 US dollars

Serial Preferred Shares, Series B, no par value (cumulative, liquidation preference of $1,000 per share) (authorized, issued, and outstanding 0 and 0.5)

0 US dollars

Net unrealized gains (losses) on fixed-maturity securities

negative 1,408,000,000 US dollars

Net unrealized losses on forecasted transactions

negative 14,000,000 US dollars

Foreign currency translation adjustment

negative 1,000,000 US dollars

Gross equity (calculated)

27,014,000,000 US dollars. Net equity plus the magnitudes of its negative contributions equals gross positive equity. The negative contributions enter this reconciliation as add-backs; their filed signs stay negative.

Chart connections

• Assets equal liabilities plus consolidated equity. Consolidated equity includes noncontrolling interests when reported.
• Treasury shares and other negative equity contributions reduce equity.