前进保险Progressive (PGR) 2013年年度报告「NYSE」.pdf

1、The Progressive Corporation2013 Annual Report to ShareholdersThe Progressive Corporation and SubsidiariesConsolidated Statements of Comprehensive IncomeFor the years ended December 31,(millions except per share amounts)201320122011RevenuesNet premiums earned$17,103.4$16,018.0$14,902.8Investment inco

2、me422.0443.0480.0Net realized gains(losses)on securities:Other-than-temporary impairment(OTTI)losses:Total OTTI losses(6.0)(7.3)(6.0)Non-credit losses,net of credit losses recognized on previouslyrecorded non-credit OTTI losses(.1)(.7).5Net impairment losses recognized in earnings(6.1)(8.0)(5.5)Net

3、realized gains(losses)on securities324.5314.8108.1Total net realized gains(losses)on securities318.4306.8102.6Fees and other revenues291.8281.8266.5Service revenues39.636.122.8Gains(losses)on extinguishment of debt(4.3)(1.8)(.1)Total revenues18,170.917,083.915,774.6ExpensesLosses and loss adjustment

4、 expenses12,472.411,948.010,634.8Policy acquisition costs1,451.81,436.61,399.2Other underwriting expenses2,350.92,206.32,088.0Investment expenses18.815.413.5Service expenses38.836.119.4Interest expense118.2123.8132.7Total expenses16,450.915,766.214,287.6Net IncomeIncome before income taxes1,720.01,3

5、17.71,487.0Provision for income taxes554.6415.4471.5Net income$1,165.4$902.3$1,015.5Other Comprehensive Income(Loss),Net of TaxNet unrealized gains(losses)on securities:Net non-credit related OTTI losses,adjusted for valuation changes$.3$5.1$(3.6)Other net unrealized gains(losses)on securities84.017

6、4.8(80.9)Total net unrealized gains(losses)on securities84.3179.9(84.5)Net unrealized gains on forecasted transactions(2.0)(1.8)(6.8)Foreign currency translation adjustment(1.6).4.1Other comprehensive income(loss)80.7178.5(91.2)Comprehensive income$1,246.1$1,080.8$924.3Computation of Net Income Per