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SCHEDULE I - Summary Of Investments - Other Than Investments in Related Parties | 12 Months Ended
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Dec. 31, 2017
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SCHEDULE I - Summary Of Investments - Other Than Investments In Related Parties | SCHEDULE I — SUMMARY OF INVESTMENTS — OTHER THAN INVESTMENTS IN RELATED PARTIES THE PROGRESSIVE CORPORATION AND SUBSIDIARIES (millions)
| December 31, 2017
Type of Investment | Cost |  | Fair Value |  | Amount At Which Shown In The Balance Sheet
Available-for-sale |  |  |  |  |
Fixed maturities: |  |  |  |  |
Bonds: |  |  |  |  |
United States Government and government agencies and authorities | $ | 6,688.8 |  |  | $ | 6,645.9 |  |  | $ | 6,645.9 |
States, municipalities, and political subdivisions | 2,285.6 |  |  | 2,297.1 |  |  | 2,297.1 |
Public utilities | 192.5 |  |  | 193.6 |  |  | 193.6 |
Corporate and other debt securities | 4,804.7 |  |  | 4,804.1 |  |  | 4,804.1 |
Asset-backed securities | 6,043.4 |  |  | 6,050.0 |  |  | 6,050.0 |
Redeemable preferred stocks | 194.9 |  |  | 211.0 |  |  | 211.0 |
Total fixed maturities | 20,209.9 |  |  | 20,201.7 |  |  | 20,201.7 |
Equity securities: |  |  |  |  |
Common stocks: |  |  |  |  |
Public utilities | 106.8 |  |  | 177.5 |  |  | 177.5 |
Banks, trusts, and insurance companies | 285.8 |  |  | 685.0 |  |  | 685.0 |
Industrial, miscellaneous, and all other | 1,106.4 |  |  | 2,537.3 |  |  | 2,537.3 |
Nonredeemable preferred stocks | 698.6 |  |  | 803.8 |  |  | 803.8 |
Total equity securities | 2,197.6 |  |  | 4,203.6 |  |  | 4,203.6 |
Short-term investments | 2,869.4 |  |  | 2,869.4 |  |  | 2,869.4 |
Total investments | $ | 25,276.9 |  |  | $ | 27,274.7 |  |  | $ | 27,274.7 |
Progressive did not have any securities of any one issuer, excluding U.S. government obligations, with an aggregate cost or fair value exceeding 10% of total shareholders’ equity at December 31, 2017.

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- Definition The entire disclosure for the schedule applicable to insurance companies summarizing investments held as of the most recent audited balance sheet. At a minimum, such summary is by three major categories of investments including: (1) fixed maturities primarily consisting of bonds, including convertibles and bonds with warrants, and redeemable preferred stocks, (2) equity securities primarily consisting of common stocks and nonredeemable preferred stocks, and (3) other investments including mortgage loans on real estate, real estate held for investment, real estate acquired in satisfaction of debt, policy loans, other long-term investments, and short-term investments not otherwise categorized. The information provided with respect to each item within each category includes: (A) the original cost of equity securities and, as to fixed maturity securities, original cost reduced by repayments and adjusted for amortization of premiums or accrual of discounts, (B) fair value as of the reporting date, and (C) the amount at which the item within each category is shown in the statement of financial position; with respect to (C), if the amount at which shown in the statement of financial position is different from the items original [amortized] cost or fair value, an explanation of the difference may be included herein. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=4738149 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 325 -URI http://asc.fasb.org/subtopic&trid=4738175 + Details
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