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Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Cash Flows From Operating Activities    
Net income $ 614.7 $ 633.2
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 46.7 49.0
Amortization of fixed-income securities 38.1 76.8
Amortization of equity-based compensation 29.8 35.1
Net realized (gains) losses on securities (159.8) (213.5)
Net (gains) losses on disposition of property and equipment 3.3 2.0
Changes in:    
Premiums receivable (255.4) (218.4)
Reinsurance recoverables (44.8) (61.2)
Prepaid reinsurance premiums (14.9) (13.3)
Deferred acquisition costs (31.4) (33.6)
Income taxes 53.6 43.0
Unearned premiums 407.7 393.5
Loss and loss adjustment expense reserves 160.1 248.0
Accounts payable, accrued expenses, and other liabilities 164.0 168.6
Other, net 29.5 28.0
Net cash provided by operating activities 1,041.2 1,137.2
Purchases:    
Fixed maturities (3,332.1) (4,262.6)
Equity securities (176.7) (208.2)
Sales:    
Fixed maturities 3,329.3 1,872.2
Equity securities 446.4 242.1
Maturities, paydowns, calls, and other:    
Fixed maturities 1,117.8 862.1
Equity securities 14.2 0
Net sales (purchases) of short-term investments (1,846.0) 430.6
Net unsettled security transactions 174.5 207.9
Purchases of property and equipment (44.7) (69.5)
Sales of property and equipment 3.1 1.6
Net cash used in investing activities (314.2) (923.8)
Cash Flows From Financing Activities    
Tax benefit from vesting of equity-based compensation 10.7 7.4
Proceeds from Issuance of Debt 344.7 0
Dividends paid to shareholders (892.6) [1] (175.6) [1]
Acquisition of treasury shares (140.0) (126.7)
Net cash used in financing activities (677.2) (294.9)
Effect of exchange rate changes on cash 1.2 (0.7)
Increase (decrease) in cash 51.0 (82.2)
Cash, Beginning of year 75.1 179.1
Cash, End of year $ 126.1 $ 96.9
[1] Progressive maintains an annual dividend program. See Note 8 - Dividends for further discussion.