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10-Q Filing

BROWN & BROWN, INC. CIK: 79282 Q1 2015
Filing Information
Form Type 10-Q
Accession Number 0000079282-15-000009
Period End Date 20150331
Filing Date 20150511
Fiscal Year 2015
Fiscal Period Q1
XBRL Instance bro-20150331.xml
Filing Contents

This filing contains the following financial statements:

Balance Sheet 81 line items
Line Item Tag Value Unit Period
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.10 USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.10 USD Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 280.00M shares Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 280.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $470.05M USD Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 145.87M shares Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 145.87M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $250.02M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $202.95M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $340.73M USD Point-in-time
Common stock, shares outstanding (in shares) CommonStockSharesOutstanding 143.49M shares Point-in-time
Restricted cash and investments RestrictedCashAndInvestmentsCurrent $284.81M USD Point-in-time
Restricted cash and investments RestrictedCashAndInvestmentsCurrent $259.77M USD Point-in-time
Common stock, shares outstanding (in shares) CommonStockSharesOutstanding 140.81M shares Point-in-time
Short-term investments ShortTermInvestments $11.16M USD Point-in-time
Short-term investments ShortTermInvestments $10.87M USD Point-in-time
Treasury stock shares (in shares) TreasuryStockShares 2.38M shares Point-in-time
Treasury stock shares (in shares) TreasuryStockShares 5.05M shares Point-in-time
Premiums, commissions and fees receivable PremiumsCommissionsAndFeesReceivable $431.15M USD Point-in-time
Tax effect of accumulated other comprehensive income OtherComprehensiveIncomeLossTax $35.00K USD 1 Quarter
Premiums, commissions and fees receivable PremiumsCommissionsAndFeesReceivable $424.55M USD Point-in-time
Tax effect of accumulated other comprehensive income OtherComprehensiveIncomeLossTax - USD Annual
Reinsurance recoverable ReinsuranceRecoverablesGross $13.09M USD Point-in-time
Reinsurance recoverable ReinsuranceRecoverablesGross $13.03M USD Point-in-time
Prepaid reinsurance premiums PrepaidReinsurancePremiums $320.59M USD Point-in-time
Prepaid reinsurance premiums PrepaidReinsurancePremiums $291.04M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetCurrent $13.91M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetCurrent $25.43M USD Point-in-time
Other current assets OtherAssetsCurrent $45.54M USD Point-in-time
Other current assets OtherAssetsCurrent $47.76M USD Point-in-time
Total current assets AssetsCurrent $1.57B USD Point-in-time
Total current assets AssetsCurrent $1.43B USD Point-in-time
Fixed assets, net PropertyPlantAndEquipmentNet $83.22M USD Point-in-time
Fixed assets, net PropertyPlantAndEquipmentNet $84.67M USD Point-in-time
Goodwill Goodwill $2.49B USD Point-in-time
Goodwill Goodwill $2.46B USD Point-in-time
Amortizable intangible assets, net IntangibleAssetsNetExcludingGoodwill $774.91M USD Point-in-time
Amortizable intangible assets, net IntangibleAssetsNetExcludingGoodwill $784.64M USD Point-in-time
Investments Investments $19.86M USD Point-in-time
Investments Investments $18.79M USD Point-in-time
Other assets OtherAssetsNoncurrent $36.57M USD Point-in-time
Other assets OtherAssetsNoncurrent $40.87M USD Point-in-time
Total assets Assets $4.84B USD Point-in-time
Total assets Assets $4.96B USD Point-in-time
Total assets Assets $3.67B USD Point-in-time
Premiums payable to insurance companies PremiumsPayableToInsuranceCompanies $568.18M USD Point-in-time
Premiums payable to insurance companies PremiumsPayableToInsuranceCompanies $587.39M USD Point-in-time
Losses and loss adjustment reserve LiabilityForClaimsAndClaimsAdjustmentExpense $13.03M USD Point-in-time
Losses and loss adjustment reserve LiabilityForClaimsAndClaimsAdjustmentExpense $13.09M USD Point-in-time
Unearned premiums UnearnedPremiums $320.59M USD Point-in-time
Unearned premiums UnearnedPremiums $291.04M USD Point-in-time
Premium deposits and credits due customers PremiumDepositsAndCreditsDueCustomers $83.31M USD Point-in-time
Premium deposits and credits due customers PremiumDepositsAndCreditsDueCustomers $80.42M USD Point-in-time
Accounts payable AccountsPayableCurrent $82.91M USD Point-in-time
Accounts payable AccountsPayableCurrent $57.26M USD Point-in-time
Accrued expenses and other liabilities AccruedLiabilitiesCurrent $127.10M USD Point-in-time
Accrued expenses and other liabilities AccruedLiabilitiesCurrent $181.16M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $45.62M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $27.50M USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.27B USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.21B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $1.15B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $1.15B USD Point-in-time
Deferred income taxes, net DeferredTaxLiabilitiesNoncurrent $336.60M USD Point-in-time
Deferred income taxes, net DeferredTaxLiabilitiesNoncurrent $341.50M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $85.43M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $79.22M USD Point-in-time
Common stock, par value $0.10 per share; authorized 280,000 shares; issued 145,866 shares and outstanding 140,814 shares at 2015, issued 145,871 shares and outstanding 143,486 shares at 2014 CommonStockValue $14.59M USD Point-in-time
Common stock, par value $0.10 per share; authorized 280,000 shares; issued 145,866 shares and outstanding 140,814 shares at 2015, issued 145,871 shares and outstanding 143,486 shares at 2014 CommonStockValue $14.59M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $405.98M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $397.50M USD Point-in-time
Treasury stock, at cost 5,053 and 2,385 shares at 2015 and 2014, respectively TreasuryStockValue $75.03M USD Point-in-time
Treasury stock, at cost 5,053 and 2,385 shares at 2015 and 2014, respectively TreasuryStockValue $160.03M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.81B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.77B USD Point-in-time
Accumulated other comprehensive income, net of tax effect of $35 at 2015, of $0 at 2014 AccumulatedOtherComprehensiveIncomeLossNetOfTax $35.00K USD Point-in-time
Accumulated other comprehensive income, net of tax effect of $35 at 2015, of $0 at 2014 AccumulatedOtherComprehensiveIncomeLossNetOfTax - USD Point-in-time
Total shareholders equity StockholdersEquity $2.11B USD Point-in-time
Total shareholders equity StockholdersEquity $2.06B USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $4.96B USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $4.84B USD Point-in-time
Income Statement 38 line items
Line Item Tag Value Unit Period
Commissions and fees InsuranceCommissionsAndFees $362.01M USD 1 Quarter
Commissions and fees InsuranceCommissionsAndFees $403.78M USD 1 Quarter
Investment income InvestmentIncomeNonoperating $103.00K USD 1 Quarter
Investment income InvestmentIncomeNonoperating $220.00K USD 1 Quarter
Other income, net OtherIncome $1.48M USD 1 Quarter
Other income, net OtherIncome $297.00K USD 1 Quarter
Total revenues Revenues $404.30M USD 1 Quarter
Total revenues Revenues $363.59M USD 1 Quarter
Employee compensation and benefits EmployeeCompensationAndBenefits $184.11M USD 1 Quarter
Employee compensation and benefits EmployeeCompensationAndBenefits $205.31M USD 1 Quarter
Non-cash stock-based compensation ShareBasedCompensation $6.36M USD 1 Quarter
Non-cash stock-based compensation ShareBasedCompensation $7.51M USD 1 Quarter
Other operating expenses OtherCostAndExpenseOperating $61.09M USD 1 Quarter
Other operating expenses OtherCostAndExpenseOperating $52.46M USD 1 Quarter
Gain on disposal GainLossOnDispositionOfAssets1 - USD 1 Quarter
Gain on disposal GainLossOnDispositionOfAssets1 $257.00K USD 1 Quarter
Amortization AdjustmentForAmortization $17.88M USD 1 Quarter
Amortization AdjustmentForAmortization $21.62M USD 1 Quarter
Depreciation Depreciation $5.18M USD 1 Quarter
Depreciation Depreciation $4.64M USD 1 Quarter
Interest InterestExpense $4.07M USD 1 Quarter
Interest InterestExpense $9.85M USD 1 Quarter
Change in estimated acquisition earn-out payables ChangeInEstimatedAcquisitionEarnOutPayable $6.08M USD 1 Quarter
Change in estimated acquisition earn-out payables ChangeInEstimatedAcquisitionEarnOutPayable $1.36M USD 1 Quarter
Total expenses OperatingExpenses $310.52M USD 1 Quarter
Total expenses OperatingExpenses $276.76M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $93.78M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $86.84M USD 1 Quarter
Income taxes IncomeTaxExpenseBenefit $36.83M USD 1 Quarter
Income taxes IncomeTaxExpenseBenefit $34.42M USD 1 Quarter
Net income NetIncomeLoss $56.95M USD 1 Quarter
Net income NetIncomeLoss $52.41M USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.36 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.40 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.36 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.39 USD 1 Quarter
Dividends declared per share (in dollars per share) CommonStockDividendsPerShareDeclared $0.11 USD 1 Quarter
Dividends declared per share (in dollars per share) CommonStockDividendsPerShareDeclared $0.10 USD 1 Quarter
Cash Flow Statement 84 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $56.95M USD 1 Quarter
Net income NetIncomeLoss $52.41M USD 1 Quarter
Amortization AdjustmentForAmortization $17.88M USD 1 Quarter
Amortization AdjustmentForAmortization $21.62M USD 1 Quarter
Depreciation Depreciation $5.18M USD 1 Quarter
Depreciation Depreciation $4.64M USD 1 Quarter
Non-cash stock-based compensation ShareBasedCompensation $6.36M USD 1 Quarter
Non-cash stock-based compensation ShareBasedCompensation $7.51M USD 1 Quarter
Change in estimated acquisition earn-out payables ChangeInEstimatedAcquisitionEarnOutPayable $6.08M USD 1 Quarter
Change in estimated acquisition earn-out payables ChangeInEstimatedAcquisitionEarnOutPayable $1.36M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $6.62M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $10.71M USD 1 Quarter
Amortization of debt discount AmortizationOfDebtDiscountPremium - USD 1 Quarter
Amortization of debt discount AmortizationOfDebtDiscountPremium $39.00K USD 1 Quarter
Income tax benefit from exercise of shares from the stock benefit plans ExcessTaxBenefitFromShareBasedCompensationOperatingActivities $2.26M USD 1 Quarter
Income tax benefit from exercise of shares from the stock benefit plans ExcessTaxBenefitFromShareBasedCompensationOperatingActivities $1.78M USD 1 Quarter
Net gain on sales of investments, fixed assets and customer accounts NetLossGainOnSalesOfInvestmentsFixedAssetsAndCustomerAccounts $656.00K USD 1 Quarter
Net gain on sales of investments, fixed assets and customer accounts NetLossGainOnSalesOfInvestmentsFixedAssetsAndCustomerAccounts $190.00K USD 1 Quarter
Restricted cash and investments (increase) IncreaseDecreaseInRestrictedCash $25.04M USD 1 Quarter
Restricted cash and investments (increase) IncreaseDecreaseInRestrictedCash $2.86M USD 1 Quarter
Premiums, commissions and fees receivable (increase) IncreaseDecreaseInPremiumsCommissionAndFeesReceivable $8.17M USD 1 Quarter
Premiums, commissions and fees receivable (increase) IncreaseDecreaseInPremiumsCommissionAndFeesReceivable $5.13M USD 1 Quarter
Reinsurance recoverables (increase) IncreaseDecreaseInReinsuranceRecoverable $64.00K USD 1 Quarter
Reinsurance recoverables (increase) IncreaseDecreaseInReinsuranceRecoverable - USD 1 Quarter
Prepaid reinsurance premiums decrease IncreaseDecreaseInPrepaidReinsurancePremiums - USD 1 Quarter
Prepaid reinsurance premiums decrease IncreaseDecreaseInPrepaidReinsurancePremiums $-29.55M USD 1 Quarter
Other assets (increase) decrease IncreaseDecreaseInOtherOperatingAssets $-128.00K USD 1 Quarter
Other assets (increase) decrease IncreaseDecreaseInOtherOperatingAssets $6.65M USD 1 Quarter
Premiums payable to insurance companies increase (decrease) IncreaseDecreaseInPremiumsPayableToInsuranceCompanies $-2.12M USD 1 Quarter
Premiums payable to insurance companies increase (decrease) IncreaseDecreaseInPremiumsPayableToInsuranceCompanies $18.54M USD 1 Quarter
Premium deposits and credits due customers (decrease) increase IncreaseDecreaseInPremiumDepositsAndCreditsDueCustomersDecreaseIncrease $10.44M USD 1 Quarter
Premium deposits and credits due customers (decrease) increase IncreaseDecreaseInPremiumDepositsAndCreditsDueCustomersDecreaseIncrease $-2.89M USD 1 Quarter
Losses and loss adjustment reserve increase IncreaseDecreaseForLossAndLossAdjustmentExpense $64.00K USD 1 Quarter
Losses and loss adjustment reserve increase IncreaseDecreaseForLossAndLossAdjustmentExpense - USD 1 Quarter
Unearned premiums (decrease) IncreaseDecreaseInUnearnedPremiums $-29.55M USD 1 Quarter
Unearned premiums (decrease) IncreaseDecreaseInUnearnedPremiums - USD 1 Quarter
Accounts payable increase IncreaseDecreaseInAccountsPayable $31.10M USD 1 Quarter
Accounts payable increase IncreaseDecreaseInAccountsPayable $32.02M USD 1 Quarter
Accrued expenses and other liabilities (decrease) IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities $-54.10M USD 1 Quarter
Accrued expenses and other liabilities (decrease) IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities $-50.96M USD 1 Quarter
Other liabilities (decrease) IncreaseDecreaseInOtherOperatingLiabilities $-2.21M USD 1 Quarter
Other liabilities (decrease) IncreaseDecreaseInOtherOperatingLiabilities $-6.73M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $67.14M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $50.70M USD 1 Quarter
Additions to fixed assets PaymentsToAcquirePropertyPlantAndEquipment $3.73M USD 1 Quarter
Additions to fixed assets PaymentsToAcquirePropertyPlantAndEquipment $4.73M USD 1 Quarter
Payments for businesses acquired, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $1.01M USD 1 Quarter
Payments for businesses acquired, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $36.20M USD 1 Quarter
Proceeds from sales of fixed assets and customer accounts ProceedsFromSaleOfProductiveAssets $829.00K USD 1 Quarter
Proceeds from sales of fixed assets and customer accounts ProceedsFromSaleOfProductiveAssets $3.71M USD 1 Quarter
Purchases of investments PaymentsToAcquireInvestments $7.72M USD 1 Quarter
Purchases of investments PaymentsToAcquireInvestments $5.42M USD 1 Quarter
Proceeds from sales of investments ProceedsFromSaleMaturityAndCollectionsOfInvestments $9.13M USD 1 Quarter
Proceeds from sales of investments ProceedsFromSaleMaturityAndCollectionsOfInvestments $5.08M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-34.80M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-5.25M USD 1 Quarter
Payments on acquisition earn-outs PaymentsOnAcquisitionEarnOuts $4.59M USD 1 Quarter
Payments on acquisition earn-outs PaymentsOnAcquisitionEarnOuts $615.00K USD 1 Quarter
Payments on long-term debt RepaymentsOfLongTermDebt - USD 1 Quarter
Payments on long-term debt RepaymentsOfLongTermDebt $25.00M USD 1 Quarter
Income tax benefit from exercise of shares from the stock benefit plans ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $2.26M USD 1 Quarter
Income tax benefit from exercise of shares from the stock benefit plans ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $1.78M USD 1 Quarter
Issuances of common stock for employee stock benefit plans ProceedsFromStockOptionsExercised $500.00K USD 1 Quarter
Issuances of common stock for employee stock benefit plans ProceedsFromStockOptionsExercised $720.00K USD 1 Quarter
Repurchase stock benefit plan shares for employees to fund tax withholdings RepurchaseOfStockBenefitPlanSharesForEmployeesToFundTaxWithholdings $2.64M USD 1 Quarter
Repurchase stock benefit plan shares for employees to fund tax withholdings RepurchaseOfStockBenefitPlanSharesForEmployeesToFundTaxWithholdings $2.12M USD 1 Quarter
Purchase of treasury stock PaymentsForRepurchaseOfCommonStock - USD 1 Quarter
Purchase of treasury stock PaymentsForRepurchaseOfCommonStock $85.00M USD 1 Quarter
Prepayment of accelerated share repurchase program PaymentsForRepurchaseOfOtherEquity - USD 1 Quarter
Prepayment of accelerated share repurchase program PaymentsForRepurchaseOfOtherEquity $15.00M USD 1 Quarter
Cash dividends paid PaymentsOfDividends $15.79M USD 1 Quarter
Cash dividends paid PaymentsOfDividends $14.55M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-145.22M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-14.83M USD 1 Quarter
Net (decrease) increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $47.06M USD 1 Quarter
Net (decrease) increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-129.32M USD 1 Quarter
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $470.05M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $250.02M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $202.95M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $340.73M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $470.05M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $250.02M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $202.95M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $340.73M USD Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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