


















































							Components of Changes in Accumulated Other Comprehensive Income (after tax)
(millions)	Pretax total accumulated other comprehensive income (loss)		Total tax (provision) benefit		After tax total accumulated other comprehensive income (loss)		Total net unrealized gains (losses) on securities		Net unrealized losses on forecasted transactions		Foreign currency translation adjustment
Balance at December 31, 2025	$	130	$	(27)	$	103	$	117	$	(13)	$	(1)
Other comprehensive income (loss) before reclassifications for investment securities	(628)		132		(496)		(496)		0		0





Less: Reclassification adjustment for amounts realized in net income by income statement line item:

Net realized gains (losses) on securities	98		(20)		78		78		0		0

Total reclassification adjustment for amounts realized in net income	98		(20)		78		78		0		0
Total other comprehensive income (loss)	(726)		152		(574)		(574)		0		0
Balance at March 31, 2026	$	(596)	$	125	$	(471)	$	(457)	$	(13)	$	(1)

							Components of Changes in Accumulated Other Comprehensive Income (after tax)
(millions)	Pretax total accumulated other comprehensive income (loss)		Total tax (provision) benefit		After tax total accumulated other comprehensive income (loss)		Total net unrealized gains (losses) on securities		Net unrealized losses on forecasted transactions		Foreign currency translation adjustment
Balance at December 31, 2024	$	(1,809)	$	386	$	(1,423)	$	(1,408)	$	(14)	$	(1)


Other comprehensive income (loss) before reclassifications for investment securities	1,108		(233)		875		875		0		0





Less: Reclassification adjustment for amounts realized in net income by income statement line item:

Net realized gains (losses) on securities	(30)		6		(24)		(24)		0		0

Total reclassification adjustment for amounts realized in net income	(30)		6		(24)		(24)		0		0
Total other comprehensive income (loss)	1,138		(239)		899		899		0		0
Balance at March 31, 2025	$	(671)	$	147	$	(524)	$	(509)	$	(14)	$	(1)

In an effort to manage interest rate risk, we entered into forecasted transactions on certain of Progressive’s debt issuances. During the next 12 months, we expect to reclassify approximately $1 million (pretax) into interest expense, related to net unrealized losses on forecasted transactions (see Note 4 – Debt in our 2025 Annual Report to Shareholders for further discussion).