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Consolidated Statements of Comprehensive Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Revenues    
Net premiums earned $ 10,420.2 $ 9,430.7
Investment income 220.2 241.2
Net realized gains (losses) on securities:    
Net realized gains (losses) on security sales 143.8 315.2
Net holding period gains (losses) on securities 441.5 (868.8)
Total net realized gains (losses) on securities 585.3 (553.6)
Fees and other revenues 165.7 153.5
Service revenues 53.8 51.6
Total revenues 11,445.2 9,323.4
Expenses    
Losses and loss adjustment expenses 7,110.5 6,155.2
Policy acquisition costs 874.4 782.8
Other underwriting expenses 1,481.1 1,409.9
Investment expenses 5.6 5.3
Service expenses 49.3 47.5
Interest expense 56.4 48.0
Total expenses 9,577.3 8,448.7
Net Income    
Income before income taxes 1,867.9 874.7
Provision for income taxes 387.9 175.6
Net income 1,480.0 699.1
Net income attributable to noncontrolling interest (NCI) 0.0 (6.4)
Net income attributable to Progressive 1,480.0 692.7
Other Comprehensive Income (Loss)    
Total net unrealized gains (losses) on fixed-maturity securities (539.6) 62.8
Net unrealized losses on forecasted transactions 0.2 0.2
Other comprehensive income (loss) (539.4) 63.0
Other comprehensive income attributable to NCI 0.0 (0.5)
Comprehensive income attributable to Progressive 940.6 755.2
Computation of Earnings Per Common Share    
Net income attributable to Progressive 1,480.0 692.7
Less: Preferred share dividends 6.7 6.7
Net income available to common shareholders $ 1,473.3 $ 686.0
Average common shares outstanding - Basic 584.9 584.7
Net effect of dilutive stock-based compensation 2.0 2.2
Total average equivalent common shares - Diluted 586.9 586.9
Basic: Earnings per common share $ 2.52 $ 1.17
Diluted: Earnings per common share $ 2.51 $ 1.17