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Consolidated Statements of Comprehensive Income - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues      
Net premiums earned $ 36,192.4 $ 30,933.3 $ 25,729.9
Investment income 1,042.0 820.5 563.1
Net realized gains (losses) on securities:      
Net realized gains (losses) on security sales 334.6 170.7  
Net holding period gains (losses) on securities 757.9 (507.9)  
Net impairment losses recognized in earnings (63.3) (68.3) (64.5)
Total net realized gains (losses) on securities 1,029.2 (405.5)  
Net realized gains (losses) on security sales     115.7
Net holding period gains (losses) on securities     (1.6)
Total net realized gains (losses) on securities     49.6
Fees and other revenues 563.7 472.2 370.6
Service revenues 195.0 158.5 126.8
Other gains (losses) 0.0 0.0 (1.0)
Total revenues 39,022.3 31,979.0 26,839.0
Expenses      
Losses and loss adjustment expenses 25,470.5 21,721.0 18,808.0
Policy acquisition costs 3,023.2 2,573.7 2,124.9
Other underwriting expenses 4,975.1 4,195.8 3,480.7
Investment expenses 24.6 24.3 23.9
Service expenses 178.9 134.1 109.5
Interest expense 189.7 166.5 153.1
Total expenses 33,862.0 28,815.4 24,700.1
Net Income      
Income before income taxes 5,160.3 3,163.6 2,138.9
Provision for income taxes 1,180.3 542.6 540.8
Net income 3,980.0 2,621.0 1,598.1
Net (income) loss attributable to noncontrolling interest (NCI) (9.7) (5.7) (5.9)
Net income attributable to Progressive 3,970.3 2,615.3 1,592.2
Changes in:      
Total net unrealized gains (losses) on fixed-maturity securities 466.4 (99.3) 355.4
Net unrealized losses on forecasted transactions 0.8 0.8 (5.4)
Foreign currency translation adjustment 0.0 0.0 1.1
Other comprehensive income (loss) 467.2 (98.5) 351.1
Other comprehensive (income) loss attributable to NCI (4.6) 3.3 (2.3)
Comprehensive income attributable to Progressive 4,432.9 2,520.1 1,941.0
Computation of Earnings Per Common Share      
Net income attributable to Progressive 3,970.3 2,615.3 1,592.2
Less: Preferred share dividends 26.9 21.4 0.0
Net income available to common shareholders $ 3,943.4 $ 2,593.9 $ 1,592.2
Average common shares outstanding - Basic 583.8 582.4 580.8
Net effect of dilutive stock-based compensation 3.4 4.3 4.9
Total average equivalent common shares - Diluted 587.2 586.7 585.7
Basic: Earnings per share (usd per share) $ 6.75 $ 4.45 $ 2.74
Diluted: Earnings per share (usd per share) $ 6.72 $ 4.42 $ 2.72