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Consolidated Statements of Comprehensive Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenues        
Net premiums earned $ 7,634.2 $ 6,313.3 $ 14,808.2 $ 12,340.0
Period over prior year period percent change in net premiums earned 21.00%   20.00%  
Investment income $ 192.1 138.8 $ 358.4 268.0
Period over prior year period percent change in investment income 38.00%   34.00%  
Net realized gains (losses) on securities:        
Gross Realized Gain (Loss), excluding Holding Period and OTTI $ (9.6) 45.5 $ 97.4 97.6
Net Holding Period Realized Gain (Loss) 53.5 0.4 (101.7) 1.2
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net (11.1) (13.8) (11.1) (14.8)
Total net realized gains (losses) on securities $ 32.8 32.1 $ (15.4) 84.0
Period Over Prior Year Period, Percent Increase (Decrease), Net Realized Gains (Losses) On Security Sales (121.00%)   0.00%  
Period Over Prior Year Period, Percent Increase (Decrease), Net Impairment Losses Recognized In Earnings (20.00%)   (25.00%)  
Period Over Prior Year Period, Percent Increase (Decrease), Total Net Realized Gains (Losses) On Securities 2.00%   (118.00%)  
Fees and other revenues $ 116.0 88.8 $ 219.8 174.0
Period over prior year period percent change in fees and other revenues 31.00%   26.00%  
Service revenues $ 42.9 32.7 $ 77.1 61.2
Period over prior year period percent change in service revenues 31.00%   26.00%  
Other gains (losses) $ 0.0 0.0 $ 0.0 0.2
Period Over Prior Year Period, Percent Increase (Decrease), Other Gains (Losses)     (100.00%)  
Total revenues $ 8,018.0 6,605.7 $ 15,448.1 12,927.4
Period over prior year period percent change in total revenues 21.00%   19.00%  
Expenses        
Losses and loss adjustment expenses $ 5,375.3 4,614.9 $ 10,246.1 8,878.3
Period over prior year period percent change in losses and loss adjustment expenses 16.00%   15.00%  
Policy acquisition costs $ 630.8 514.2 $ 1,227.0 1,017.1
Period over prior year period percent change in policy acquisition costs 23.00%   21.00%  
Other underwriting expenses $ 1,046.9 845.0 $ 2,027.1 1,690.6
Period over prior year period percent change in other underwriting expenses 24.00%   20.00%  
Investment expenses $ 6.2 6.6 $ 12.2 12.2
Period over prior year period percent change in investment expenses (6.00%)   0.00%  
Service expenses $ 37.0 27.0 $ 66.3 52.9
Period over prior year period percent change in service expenses 37.00%   25.00%  
Interest expense $ 41.7 43.4 $ 78.5 80.2
Period over prior year period percent change in interest expense (4.00%)   (2.00%)  
Total expenses $ 7,137.9 6,051.1 $ 13,657.2 11,731.3
Period over prior year period percent change in total expenses 18.00%   16.00%  
Net Income        
Income before income taxes $ 880.1 554.6 $ 1,790.9 1,196.1
Period over prior year period percent change in income before income taxes 59.00%   50.00%  
Provision for income taxes $ 178.9 181.9 $ 359.9 393.1
Period over prior year period percent change in provision for income taxes (2.00%)   (8.00%)  
Net income $ 701.2 372.7 $ 1,431.0 803.0
Period over prior year period percent change in net income 88.00%   78.00%  
Net (income) loss attributable to noncontrolling interest (NCI) $ 3.0 (5.1) $ (8.8) (11.1)
Period over prior year period percent change in net (income) loss attributable to noncontrolling interest (159.00%)   (21.00%)  
Net income attributable to Progressive $ 704.2 367.6 $ 1,422.2 791.9
Period over prior year period percent change in net income attributable to Progressive 92.00%   80.00%  
Other Comprehensive Income (Loss)        
Total net unrealized gains (losses) on securities $ (50.1) 92.6 $ (204.6) 225.0
Period over prior year period percent change in total net unrealized gains (losses) on securities (154.00%)   (191.00%)  
Net unrealized losses on forecasted transactions $ 0.2 (8.0) $ 0.4 (5.7)
Period Over Prior Year Period, Percent Increase (Decrease), Unrealized Gain (Loss) On Forecasted Transactions (103.00%)   (107.00%)  
Foreign currency translation adjustment $ 0.0 (0.1) $ 0.0 0.2
Period over prior year period percent change in foreign currency translation adjustment (100.00%)   (100.00%)  
Other comprehensive income (loss) $ (49.9) 84.5 $ (204.2) 219.5
Period over prior year period percent change in other comprehensive income (159.00%)   (193.00%)  
Other comprehensive (income) loss attributable to NCI $ 0.6 (1.3) $ 4.6 (2.2)
Period over prior year period change in Comprehensive (income) loss attributable to NCI (146.00%)   (309.00%)  
Comprehensive income attributable to Progressive $ 654.9 450.8 $ 1,222.6 1,009.2
Period over prior year period percent change in comprehensive income 45.00%   21.00%  
Computation of Per Share Earnings Available to Progressive Common Shareholders        
Net income attributable to Progressive $ 704.2 367.6 $ 1,422.2 791.9
Period over prior year period percent change in net income attributable to Progressive 92.00%   80.00%  
Preferred Stock Dividends, Income Statement Impact $ 6.7 0.0 $ 7.9 0.0
Net Income (Loss) Available to Common Stockholders, Basic $ 697.5 $ 367.6 $ 1,414.3 $ 791.9
Period Over Prior Year Period, Percent Increase (Decrease), Net Income (Loss) Available to Common Stockholders 90.00%   79.00%  
Average common shares outstanding - Basic 582.0 580.5 582.0 580.4
Period over prior year period percent change in average shares outstanding - basic 0.00%   0.00%  
Net effect of dilutive stock-based compensation 3.8 3.3 3.6 3.1
Period over prior year period percent change in net effect of dilutive stock-based compensation 15.00%   16.00%  
Total average equivalent common shares - Diluted 585.8 583.8 585.6 583.5
Period over prior year period percent change in total equivalent shares - diluted 0.00%   0.00%  
Basic: Earnings per common share $ 1.20 $ 0.63 $ 2.43 $ 1.36
Period over prior year period percent change in basic: earnings per share 89.00%   78.00%  
Diluted: Earnings per common share $ 1.19 0.63 $ 2.42 1.36
Period over prior year period percent change in diluted: earnings per share 89.00%   78.00%  
Dividends declared per share [1] $ 0 $ 0 $ 0 $ 0
[1] Progressive maintains an annual variable common share dividend program. See Note 9 – Dividends for further discussion.