前进保险Progressive (PGR) 2015年年度报告「NYSE」.pdf

1、THE PROGRESSIVE CORPORATION2015 Annual Report to ShareholdersTHE PROGRESSIVE CORPORATION2015 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、)201520142013RevenuesNet premiums earned$19,899.1$18,398.5$17,103.4Investment income454.6408.4422.0Net realized gains(losses)on securities:Other-than-temporary impairment(OTTI)losses:Total OTTI losses(23.8)(7.9)(6.0)Non-credit losses,net of credit losses recognized on previouslyrecorded non-credit O

3、TTI losses00(0.1)Net impairment losses recognized in earnings(23.8)(7.9)(6.1)Net realized gains(losses)on securities136.5232.1324.5Total net realized gains(losses)on securities112.7224.2318.4Fees and other revenues302.0309.1291.8Service revenues86.356.039.6Gains(losses)on extinguishment of debt(0.9)

4、(4.8)(4.3)Total revenues20,853.819,391.418,170.9ExpensesLosses and loss adjustment expenses14,342.013,306.212,472.4Policy acquisition costs1,651.81,524.01,451.8Other underwriting expenses2,712.12,467.12,350.9Investment expenses22.818.918.8Service expenses77.550.938.8Interest expense136.0116.9118.2To

5、tal expenses18,942.217,484.016,450.9Net IncomeIncome before income taxes1,911.61,907.41,720.0Provision for income taxes611.1626.4554.6Net income1,300.51,281.01,165.4Net income attributable to noncontrolling interest(NCI),net of tax32.900Net income attributable to Progressive$1,267.6$1,281.0$1,165.4O

6、ther Comprehensive Income(Loss),Net of TaxChanges in:Net unrealized gains(losses)on securities:Net non-credit related OTTI losses,adjusted for valuation changes$0$0$0.3Other net unrealized gains(losses)on securities(212.9)74.984.0Total net unrealized gains(losses)on securities(212.9)74.984.3Net unre