前进保险Progressive (PGR) 2016年年度报告「NYSE」.pdf

1、2016 Annual Report to ShareholdersTHE PROGRESSIVE CORPORATIONTHE PROGRESSIVE CORPORATION2016 ANNUAL REPORT TO SHAREHOLDERSAnnual ReportApp.-A-1The Progressive Corporation and SubsidiariesConsolidated Statements of Comprehensive IncomeFor the years ended December 31,(millions except per share amounts

2、)201620152014RevenuesNet premiums earned$22,474.0$19,899.1$18,398.5Investment income478.9454.6408.4Net realized gains(losses)on securities:Net impairment losses recognized in earnings(86.8)(23.8)(7.9)Net realized gains(losses)on securities137.9136.5232.1Total net realized gains(losses)on securities5

3、1.1112.7224.2Fees and other revenues332.5302.0309.1Service revenues103.386.356.0Gains(losses)on extinguishment of debt1.6(0.9)(4.8)Total revenues23,441.420,853.819,391.4ExpensesLosses and loss adjustment expenses16,879.614,342.013,306.2Policy acquisition costs1,863.81,651.81,524.0Other underwriting

4、expenses2,972.02,712.12,467.1Investment expenses22.422.818.9Service expenses92.077.550.9Interest expense140.9136.0116.9Total expenses21,970.718,942.217,484.0Net IncomeIncome before income taxes1,470.71,911.61,907.4Provision for income taxes413.5611.1626.4Net income1,057.21,300.51,281.0Net(income)los

5、s attributable to noncontrolling interest(NCI)(26.2)(32.9)0Net income attributable to Progressive$1,031.0$1,267.6$1,281.0Other Comprehensive Income(Loss)Changes in:Total net unrealized gains(losses)on securities$130.6$(212.9)$74.9Net unrealized losses on forecasted transactions(1.2)(9.7)(2.6)Foreign

6、 currency translation adjustment0.4(1.2)(0.9)Other comprehensive income(loss)129.8(223.8)71.4Other comprehensive(income)loss attributable to NCI3.21.10Comprehensive income attributable to Progressive$1,164.0$1,044.9$1,352.4Computation of Per Share Earnings Attributable to ProgressiveAverage shares o