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Allstate ALL Protection Services — Deferred policy acquisition costs

Other segment segments

Allstate Protection and Run-off Property-Liability
$2.74B+6.9%

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LNCGroup Protection — Deferred policy acquisition costs, amortization expense
$32M+10.3%
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$112.85M-7.3%
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LNCRetirement Plan Services — Deferred Policy Acquisition Cost
$243M+0.4%

Other financials

Income statement

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Revenue$16.9B+3.0%
Net income$2.5B+313%
EPS (diluted)$9.25+338%

Balance sheet

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Cash & equivalents$697.0M-17.0%
Total debt$7.5B-7.4%
Total equity$31.6B+43.3%
Total assets$123.97B+7.7%

Cash flow

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Operating cash flow$3.6B+81.4%
CapEx$40.0M-56.5%
Free cash flow$3.5B+88.1%

Valuation

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Market cap$59.62B+15.3%
Enterprise value$66.41B+12.6%
P/E4.9×-8.0×
P/S0.9×+0.1×

Profitability

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Net margin17.8%+11.6pp
FCF margin16.9%+3.2pp

Returns & leverage

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Return on equity45.2%+25.4pp
Debt / equity0.2×-0.1×

Where this comes from

Reported directly by Allstate in its filing.

Tagged under the XBRL concept us-gaap:DeferredPolicyAcquisitionCostsAndValueOfBusinessAcquired.

The official record: Allstate’s 10-Q, filed April 29, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Allstate's protection services — deferred policy acquisition costs?
Allstate (ALL) reported protection services — deferred policy acquisition costs of $3.23B in Q1 2026.
How has Allstate's protection services — deferred policy acquisition costs changed year-over-year?
Allstate's protection services — deferred policy acquisition costs increased by 2.6% year-over-year, from $3.15B to $3.23B.
What does protection services — deferred policy acquisition costs mean?
This metric represents the capitalized costs associated with acquiring new insurance policies within the Protection Services segment, such as commissions and underwriting expenses. These costs are deferred and amortized over the life of the policies to match expenses with the related premium revenue. It is a vital indicator of the segment's growth strategy and future profitability expectations.