v3.25.2
Debt
 6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Debt DEBT
Debt at each of the balance sheet periods consisted of the following Senior Notes:
($ in millions)June 30, 2025June 30, 2024December 31, 2024
Principal Amount Interest RateIssuance DateMaturity DateCarrying
Value		Fair
Value		Carrying
Value		Fair
Value		Carrying
Value		Fair
Value
$500 2.45 %August 20162027$499 $488 $499 $469 $499 $479 
500 2.50 March 20222027499 487 498 468 499 479 
300 6 5/8March 19992029298 324 298 321 298 320 
550 4.00 October 20182029548 547 547 527 547 534 
500 3.20 March 20202030498 477 497 455 498 462 
500 3.00 March 20222032497 456 497 434 497 439 
400 6.25 November 20022032397 438 397 428 397 430 
500 4.95 May 20232033497 511 497 495 497 495 
350 4.35 April 20142044347 299 347 301 347 298 
400 3.70 January 20152045396 310 396 310 396 308 
850 4.125 April 20172047843 699 842 699 842 684 
600 4.20 March 20182048591 493 591 494 591 490 
500 3.95 March 20202050491 392 491 392 491 386 
500 3.70 March 20222052494 373 494 373 494 369 
Total$6,895 $6,294 $6,891 $6,166 $6,893 $6,173 
There was no short-term debt outstanding as of the end of all periods presented.
During the second quarter 2025, The Progressive Corporation renewed its line of credit with PNC Bank, National Association (PNC), in the maximum principal amount of $300 million, which expires April 2026 and has the same terms as the previous line of credit with PNC. See the 2024 Annual Report to Shareholders for a discussion of the terms of this line of credit. We had no borrowings under the line of credit that was available during the periods presented.