Summary
This 8-K filing from The Progressive Corporation addresses a correction to a footnote in their previously issued earnings release dated October 10, 2008. The correction clarifies the amounts of nonredeemable and redeemable preferred stocks. Specifically, footnote 1 has been amended to state that the company includes $1,310.9 million of nonredeemable preferred stocks and $529.6 million of redeemable preferred stocks. The company emphasizes that all other amounts disclosed in the corresponding tables and the condensed balance sheet within the original release were accurate.
Key Highlights
- 1The Progressive Corporation issued a press release on October 15, 2008, to correct an error in its October 10, 2008 earnings release.
- 2The correction pertains to footnote 1 of the earnings release, which contained reversed figures for redeemable and nonredeemable preferred stocks.
- 3The corrected footnote clarifies that the company holds $1,310.9 million in nonredeemable preferred stocks.
- 4The corrected footnote also clarifies that the company holds $529.6 million in redeemable preferred stocks.
- 5The company explicitly states that all other financial data presented in the tables and the condensed balance sheet of the original earnings release remain accurate.