PGR Stock Cash Flow Statements

The Progressive Quarterly Cash Flow Statements Chart

Quarterly

Annual

Operating Cash Flow

Investing Cash Flow

Financing Cash Flow

Free Cash Flow

Capital Expenditure

The Progressive Quarterly Cash Flow Statements Table

Quarterly

Annual

Unit: USD	2025-06-30	2025-03-31	2024-09-30	2024-06-30	2024-03-31	2023-09-30	2023-06-30	2023-03-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31

cash flows from operating activities
net income	3,175,000,000	2,567,000,000	2,333,400,000	1,458,700,000	2,331,400,000	1,121,300,000	345,400,000	447,900,000	124,100,000	-542,900,000	313,900,000	962,300,000	118,500,000	790,100,000	1,480,000,000		1,530,800,000	1,790,400,000	699,100,000		843,600,000	979,000,000	1,082,800,000		930,200,000	701,200,000	729,800,000
adjustments to reconcile net income to net cash from operating activities:
depreciation	79,000,000	70,000,000	70,700,000	67,800,000	69,700,000	71,400,000	72,600,000	68,000,000	77,900,000	78,500,000	71,100,000		74,500,000	66,500,000	62,900,000		70,900,000	67,700,000	62,600,000		56,400,000	62,000,000	52,600,000		51,200,000	45,700,000	40,900,000
net amortization (accretion) of fixed-income securities	-34,000,000	-21,000,000	-3,400,000	-12,600,000	-7,500,000	-2,100,000	-500,000	-5,000,000
amortization of equity-based compensation	32,000,000	16,000,000	37,300,000	31,700,000	16,800,000	42,900,000	27,900,000	15,900,000	26,000,000	26,400,000	17,300,000	-65,600,000	26,000,000	26,900,000	15,800,000	-59,000,000	16,700,000	21,900,000	23,300,000	-61,800,000	18,700,000	26,800,000	19,200,000	-51,600,000	15,500,000	21,100,000	17,400,000
net realized (gains) losses on securities	-387,000,000	212,000,000	-287,400,000	126,300,000	-155,600,000	149,000,000	-126,900,000	-71,800,000	216,400,000	1,177,700,000	445,300,000		-36,800,000	-461,800,000	-585,300,000				553,600,000							-32,800,000	48,200,000
net (gains) losses on disposition of property and equipment	-2,000,000	3,000,000	-800,000	600,000	-1,700,000	16,800,000	-10,300,000	16,500,000	3,300,000	-1,300,000	3,300,000		-4,500,000	1,600,000	-1,100,000		3,000,000	1,700,000	100,000				5,100,000		5,700,000	500,000	1,200,000
changes in:
premiums receivable	405,000,000	-2,442,000,000	-590,900,000	-352,000,000	-2,234,300,000	-134,700,000	138,100,000	-1,994,500,000	-305,900,000	-42,800,000	-1,119,500,000		-810,500,000	-124,800,000	-1,058,700,000
reinsurance recoverables	252,000,000	316,000,000	-100,000	122,000,000	90,500,000	185,700,000	99,300,000	215,900,000	-1,345,600,000	63,800,000	-44,500,000		-335,800,000	-113,500,000	-123,800,000												34,300,000
prepaid reinsurance premiums	43,000,000	43,000,000	66,800,000	-81,000,000	40,000,000	7,900,000	26,700,000	25,900,000	96,800,000	-9,200,000	2,500,000		-33,800,000	54,900,000	-299,500,000		-102,100,000	76,900,000	188,300,000
deferred acquisition costs	-42,000,000	-107,000,000	-93,300,000	-120,100,000	-130,800,000	-46,500,000	-58,800,000	-82,400,000	-86,800,000	-90,700,000	-52,100,000		-70,100,000	-51,500,000	-71,900,000
income taxes	-840,000,000	667,000,000	-25,600,000	-950,700,000	609,500,000	234,700,000	-267,700,000	106,600,000	-214,400,000	-453,400,000	76,200,000	354,600,000	-75,200,000	-364,800,000	283,800,000	25,900,000	-668,700,000	461,900,000	128,700,000	-4,200,000	22,300,000	-307,800,000	465,200,000	-39,200,000	23,000,000	-179,100,000	181,100,000
unearned premiums	-277,000,000	2,754,000,000	1,092,100,000	773,100,000	2,773,600,000	691,600,000	225,800,000	2,550,700,000	522,100,000	283,400,000	1,375,600,000		1,115,500,000	443,100,000	1,608,400,000		1,143,700,000	414,500,000	252,300,000		729,800,000	193,100,000	917,100,000		763,300,000	408,100,000	934,300,000
loss and loss adjustment expense reserves	1,332,000,000	765,000,000	1,456,300,000	1,774,200,000	441,800,000	824,000,000	1,726,900,000	667,100,000	2,819,800,000	1,057,800,000	590,100,000		2,030,700,000	1,683,100,000	797,900,000		1,077,200,000	205,500,000	201,100,000		801,400,000	692,000,000	475,800,000		550,000,000	741,800,000	242,100,000
accounts payable, accrued expenses, and other liabilities	216,000,000	334,000,000	542,600,000	599,900,000	457,800,000	329,100,000	194,500,000	565,500,000	110,000,000	-108,600,000	545,100,000	-1,344,600,000	315,200,000	337,700,000	380,100,000	-267,700,000				-873,400,000	314,700,000	314,300,000	291,500,000	-1,062,400,000	332,400,000	417,200,000	283,200,000
other	88,000,000	-34,000,000	12,800,000	-172,100,000	-65,800,000	-74,500,000	-59,100,000	-82,200,000	5,800,000	-281,600,000	236,400,000	-20,500,000	7,800,000	-8,300,000	80,000,000	30,800,000			34,200,000								24,200,000
net cash from operating activities	4,040,000,000	5,143,000,000	4,610,500,000	3,265,800,000	4,235,400,000	3,419,500,000	2,337,000,000	2,449,500,000	2,027,300,000	1,389,600,000	2,502,300,000	-4,598,100,000	2,371,200,000	2,323,900,000	2,614,500,000	-1,405,200,000	1,479,700,000	2,252,800,000	1,625,800,000	-2,952,800,000	1,758,700,000	1,506,200,000	1,868,500,000	-4,273,000,000	1,718,200,000	1,736,200,000	1,747,100,000
capex	-102,000,000	-59,000,000	-56,700,000	-67,900,000	-50,200,000	-36,300,000	-90,400,000	-43,200,000	-108,300,000	-63,700,000	-73,000,000	0	-89,800,000	-48,000,000	-50,500,000	0	0	0	0	0	0	0	0	0	0	0	0
free cash flows	3,938,000,000	5,084,000,000	4,553,800,000	3,197,900,000	4,185,200,000	3,383,200,000	2,246,600,000	2,406,300,000	1,919,000,000	1,325,900,000	2,429,300,000	-4,598,100,000	2,281,400,000	2,275,900,000	2,564,000,000	-1,405,200,000	1,479,700,000	2,252,800,000	1,625,800,000	-2,952,800,000	1,758,700,000	1,506,200,000	1,868,500,000	-4,273,000,000	1,718,200,000	1,736,200,000	1,747,100,000
cash flows from investing activities
purchases:
fixed maturities	-9,030,000,000	-17,324,000,000	-11,303,100,000	-11,244,200,000	-13,288,200,000	-6,585,300,000	-6,251,400,000	-6,119,500,000	-4,340,400,000	-2,878,900,000	-11,453,400,000		-6,857,700,000	-7,943,100,000	-10,421,400,000		-39,724,100,000	6,333,300,000	7,415,900,000		3,950,800,000	3,947,400,000	4,214,700,000		743,500,000	2,223,700,000	1,692,400,000
equity securities	-1,000,000	-86,000,000	-78,000,000	-200,000	-32,400,000	-2,100,000	-3,300,000	-17,800,000	-35,400,000	-16,800,000	-74,300,000		-48,800,000	-219,400,000	-196,700,000		-1,163,900,000	101,100,000	281,000,000		44,100,000	92,600,000	39,000,000		313,500,000	32,000,000	428,000,000
sales:
maturities, paydowns, calls, and other:
net (purchases) sales of short-term investments	535,000,000	-1,964,000,000	-16,800,000	607,900,000	479,200,000	-281,900,000	1,053,100,000	360,800,000	398,500,000	-4,078,200,000	413,100,000		622,300,000	610,200,000	2,976,800,000
net change in unsettled security transactions	6,000,000	172,000,000	394,400,000	57,900,000	61,800,000	-80,700,000	225,200,000	57,200,000
purchases of property and equipment	-102,000,000	-59,000,000	-56,700,000	-67,900,000	-50,200,000	-36,300,000	-90,400,000	-43,200,000	-108,300,000	-63,700,000	-73,000,000		-89,800,000	-48,000,000	-50,500,000
sales of property and equipment	39,000,000	13,000,000	18,700,000	42,300,000	3,500,000	6,200,000	24,500,000	4,300,000	4,400,000	5,100,000	6,500,000		51,600,000	4,000,000	7,500,000		8,700,000	1,300,000	3,500,000		15,300,000	18,400,000	6,200,000		1,400,000	5,200,000	1,500,000
net cash from investing activities	-4,040,000,000	-2,341,000,000	-4,420,800,000	-3,262,500,000	-3,124,300,000	-3,352,100,000	-2,867,000,000	-2,277,200,000	-1,781,500,000	-1,377,100,000	-3,802,500,000	5,359,900,000	-1,556,600,000	-2,243,400,000	224,900,000	1,401,500,000
cash flows from financing activities
dividends paid to common shareholders	-59,000,000	-2,695,000,000	-58,600,000	-58,600,000	-497,900,000	-58,500,000	-58,500,000	-58,500,000	-58,500,000	-58,500,000	-58,500,000	-935,000,000	-58,500,000	-58,500,000	-2,694,500,000	-58,600,000
acquisition of treasury shares for equity award tax liabilities	-1,000,000	-54,000,000	-82,800,000
acquisition of treasury shares acquired in open market			-3,000,000			-20,400,000			-2,400,000	0	0	-55,500,000	-35,300,000	-10,200,000	-54,800,000	-35,400,000						0	0
redemption of preferred shares	0	0
dividends paid to preferred shareholders	0	0	0	0	-7,800,000	-10,300,000	-9,500,000	-13,400,000	-13,400,000	0	-13,400,000	0	-13,400,000	0	-13,400,000	0
net cash from financing activities	-72,000,000	-2,749,000,000	-144,400,000	-69,500,000	-1,042,800,000	-108,500,000	420,900,000	-104,600,000	-121,000,000	-59,300,000	1,385,400,000	-970,800,000	-643,700,000	-89,100,000	-2,792,700,000	140,000,000								428,000,000	-52,800,000	500,000	354,800,000
increase in cash, cash equivalents, restricted cash, and restricted cash equivalents	-72,000,000	53,000,000	45,300,000	-66,200,000	68,300,000	-41,100,000	-109,100,000	67,700,000	124,800,000	-46,800,000	85,200,000
cash, cash equivalents, restricted cash, and restricted cash equivalents – january 1	0	154,000,000	0	0	99,600,000	0	0	220,900,000	0	0	202,100,000
cash, cash equivalents, restricted cash, and restricted cash equivalents – june 30
cash, cash equivalents, restricted cash, and restricted cash equivalents – march 31		207,000,000			167,900,000			288,600,000			287,300,000
redemption of serial preferred shares, series b			0	0	-500,000,000
net proceeds from debt issuances			0			0	496,300,000	0	0	0	1,486,000,000		0	0	0		0	0	986,300,000		0	0	0
cash, cash equivalents, restricted cash, and restricted cash equivalents – september 30
acquisition of treasury shares for restricted stock tax liabilities					-37,100,000	-19,300,000	-300,000	-32,700,000	-46,700,000	-800,000	-28,700,000	-300,000	-36,500,000	-400,000	-30,000,000	-1,700,000
amortization of intangible assets						2,900,000	3,100,000	5,400,000	5,400,000	5,500,000	14,600,000		14,600,000	14,300,000	14,200,000		14,200,000	14,100,000	14,500,000		15,800,000	18,000,000	17,900,000		18,000,000	18,000,000	18,000,000
goodwill impairment						0			0
net amortization of fixed-income securities									-27,600,000	2,200,000	27,000,000		35,100,000	30,400,000	31,700,000		29,900,000	23,600,000	18,900,000		12,200,000	1,700,000	200,000		6,500,000	8,200,000	15,000,000
net unsettled security transactions									74,700,000	-356,000,000	212,600,000		-12,400,000	49,000,000	267,600,000		191,300,000	-320,100,000	586,100,000		-17,000,000				-356,900,000	278,500,000	89,400,000
acquisition of protective insurance corporation, net of cash, cash equivalents, and restricted cash equivalents acquired
payment of acquired company debt									0
payments of debt												0									0	0	0
acquisition of protective insurance corporation, net of cash, cash equivalents, and restricted cash acquired
cash flows from operating activities:
undistributed income from subsidiaries
intercompany receivable
cash flows from investing activities:
additional investments in equity securities of consolidated subsidiaries
acquisition of protective insurance corporation
acquisition of additional shares of arx holding corp.												0	0
(paid to) received from investment subsidiary
cash flows from financing activities:
net proceeds from debt issuance																										0	589,500,000
loan to arx holding corp.
change in cash, cash equivalents, and restricted cash
cash, cash equivalents, restricted cash - beginning of year
cash, cash equivalents, restricted cash - end of year
acquisition of protective insurance corporation, net of cash, cash equivalents, and restricted cash acquired1													0
payment of acquired company debt1													0
proceeds from exercise of equity options													0				0				0	1,600,000	0		0	2,700,000	600,000
cash, cash equivalents, and restricted cash – january 1													0	0	76,500,000		0	0	227,400,000		0	0	75,000,000		0
increase in cash, cash equivalents, and restricted cash														-8,600,000	46,700,000				143,000,000			-65,800,000	83,700,000
cash, cash equivalents, and restricted cash – march 31															123,200,000				370,400,000				158,700,000
net income attributable to progressive
adjustments to reconcile net income attributable to progressive to net cash from operating activities:
acquisition of additional shares - arx
net proceeds from preferred stock issuance
decrease in cash, cash equivalents, and restricted cash
cash, cash equivalents, and restricted cash – september 30
cash, cash equivalents, and restricted cash – june 30
net sales of short-term investments
undistributed (income) income from subsidiaries
(gains) losses on extinguishment of debt
acquisition of an insurance company
reacquisitions of debt
net proceeds from issuance of serial preferred shares, series b																					0	0	0		0	0	493,900,000
net sales (purchases) of short-term investments
loan to arx holding corp.1
tax benefit from vesting of equity-based compensation
other (gains) losses																									0	0	0
acquisition of an insurance company, net of cash acquired																									0
redemption/reacquisition of subordinated debt																									0	0	0
effect of exchange rate changes on cash
collateral on derivative positions																											0
cash, cash equivalents, and restricted cash - january 1																											275,300,000
cash, cash equivalents, and restricted cash - march 31																											196,600,000
acquisition of arx
dividends paid to shareholders

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