Progressive (Progressive) Interest Expense : $-275 Mil (TTM As of Dec. 2023)

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What is Progressive Interest Expense?

Interest Expense is the amount reported by a company or individual as an expense for borrowed money. Progressive's interest expense for the three months ended in Dec. 2023 was $ -70 Mil. Its interest expense for the trailing twelve months (TTM) ended in Dec. 2023 was $-275 Mil.

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income(EBIT) by its Interest Expense. Progressive's Operating Income for the three months ended in Dec. 2023 was $ 2,573 Mil. Progressive's Interest Expense for the three months ended in Dec. 2023 was $ -70 Mil. Progressive's Interest Coverage for the quarter that ended in Dec. 2023 was 36.92. The higher the ratio, the stronger the company's financial strength is. Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Progressive Interest Expense Historical Data

The historical data trend for Progressive's Interest Expense can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Progressive Interest Expense Chart

Progressive Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Expense

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-189.70

-217.00

-218.60

-243.50

-268.40

Progressive Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Interest Expense	Get a 7-Day Free Trial															-63.30	-65.70	-69.70	-69.70	-69.60

Progressive Interest Expense Calculation

Interest Expense is the amount reported by a company or individual as an expense for borrowed money.

Interest Expense for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $-275 Mil.

Progressive (NYSE:PGR) Interest Expense Explanation

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Progressive's Interest Expense for the three months ended in Dec. 2023 was $-70 Mil. Its EBIT for the three months ended in Dec. 2023 was $2,573 Mil. And its Long-Term Debt & Capital Lease Obligation for the three months ended in Dec. 2023 was $6,889 Mil.

Progressive's Interest Coverage for the quarter that ended in Dec. 2023 is calculated as

Interest Coverage	=	-1	*	EBIT (Q: Dec. 2023 )	/	Interest Expense (Q: Dec. 2023 )
	=	-1	*	2573.1	/	-69.7
	=	36.92

The higher the ratio, the stronger the company's financial strength is.

Progressive (Progressive) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Insurance » Progressive Corp (NYSE:PGR) » Definitions » Interest Expense

Comparable Companies

Traded in Other Exchanges

PGR:Mexico PGV:Germany PGV:Germany P1GR34:Brazil

Address

6300 Wilson Mills Road, Mayfield Village, OH, USA, 44143

Website

https://www.progressive.com

Progressive underwrites private and commercial auto insurance and specialty lines; it has about 18 million personal auto policies in force and is one of the largest auto insurers in the United States. Progressive markets its policies through independent insurance agencies in the U.S. and Canada and directly via the internet and telephone. Its premiums are split roughly equally between the agent and the direct channel. The company also offers commercial auto policies and entered homeowners insurance through an acquisition in 2015.

Executives

Susan Patricia Griffith	officer: Chief Human Resource, Officer	6300 WILSON MILLS ROAD, MAYFIELD VILLAGE OH 44143
Andrew J Quigg	officer: Chief Strategy Officer	C/O THE PROGRESSIVE CORPORATION, 6300 WILSON MILLS ROAD, MAYFIELD VILLAGE OH 44143
Lori A Niederst	officer: CRM President	C/O THE PROGRESSIVE CORPORATION, 6300 WILSON MILLS ROAD, MAYFIELD VILLAGE OH 44143
Daniel P Mascaro	officer: Vice Pres, Secretary and CLO	C/O THE PROGRESSIVE CORPORATION, 6300 WILSON MILLS ROAD, MAYFIELD VILLAGE OH 44143
Stuart B Burgdoerfer	director	6300 WILSON MILLS ROAD, MAYFIELD VILLAGE OH 44143
Jeffrey D Kelly	director
John P Sauerland	officer: Direct Group, President	PROGRESSIVE, 7580 NORTHCLIFF AVE. -- SUITE 1000, BROOKLYN OH 44144
Barbara R Snyder	director	127 PUBLIC SQUARE, CLEVELAND OH 44114
Steven Broz	officer: Chief Information Officer	C/O THE PROGRESSIVE CORPORATION, 6300 WILSON MILLS ROAD, MAYFIELD VILLAGE OH 44143
Danelle Marie Barrett	director	50 ENTERPRISE CENTER, KVH INDUSTRIES, INC., MIDDLETOWN RI 02842
Philip Bleser	director	8760 CLAY ROAD SUITE 100, HOUSTON TX 77494
Devin C Johnson	director	6300 WILSON MILLS ROAD, MAYFIELD VILLAGE OH 44143
John Jo Murphy	officer: Claims President	C/O THE PROGRESSIVE CORPORATION, 6300 WILSON MILLS ROAD, MAYFIELD VILLAGE OH 44143
Patrick K Callahan	officer: Personal Lines President	C/O THE PROGRESSIVE CORPORATION, 6300 WILSON MILLS ROAD, MAYFIELD VILLAGE OH 44143
Karen Bailo	officer: Commercial Lines President	6300 WILSON MILLS ROAD, MAYFIELD VILLAGE OH 44143