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10-Q Filing

BROWN & BROWN, INC. CIK: 79282 Q1 2017
Filing Information
Form Type 10-Q
Accession Number 0000079282-17-000019
Period End Date 20170331
Filing Date 20170505
Fiscal Year 2017
Fiscal Period Q1
XBRL Instance bro-20170331.xml
Filing Contents

This filing contains the following financial statements:

Balance Sheet 77 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 $443.42M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $546.72M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $515.65M USD Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 148.28M shares Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 148.11M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $401.85M USD Point-in-time
Restricted cash and investments RestrictedCashAndInvestmentsCurrent $279.37M USD Point-in-time
Common stock, shares outstanding (in shares) CommonStockSharesOutstanding 140.10M shares Point-in-time
Common stock, shares outstanding (in shares) CommonStockSharesOutstanding 140.27M shares Point-in-time
Restricted cash and investments RestrictedCashAndInvestmentsCurrent $265.64M USD Point-in-time
Short-term investments ShortTermInvestments $15.05M USD Point-in-time
Treasury stock shares (in shares) TreasuryStockShares 8.00M shares Point-in-time
Treasury stock shares (in shares) TreasuryStockShares 8.00M shares Point-in-time
Short-term investments ShortTermInvestments $20.62M USD Point-in-time
Tax effect of accumulated other comprehensive income OtherComprehensiveIncomeLossTax - USD 1 Quarter
Tax effect of accumulated other comprehensive income OtherComprehensiveIncomeLossTax - USD 1 Quarter
Premiums, commissions and fees receivable PremiumsCommissionsAndFeesReceivable $502.48M USD Point-in-time
Premiums, commissions and fees receivable PremiumsCommissionsAndFeesReceivable $486.29M USD Point-in-time
Reinsurance recoverable ReinsuranceRecoverablesGross $78.08M USD Point-in-time
Reinsurance recoverable ReinsuranceRecoverablesGross $39.24M USD Point-in-time
Prepaid reinsurance premiums PrepaidReinsurancePremiums $308.66M USD Point-in-time
Prepaid reinsurance premiums PrepaidReinsurancePremiums $280.14M USD Point-in-time
Other current assets OtherAssetsCurrent $50.57M USD Point-in-time
Other current assets OtherAssetsCurrent $44.58M USD Point-in-time
Total current assets AssetsCurrent $1.70B USD Point-in-time
Total current assets AssetsCurrent $1.74B USD Point-in-time
Fixed assets, net PropertyPlantAndEquipmentNet $72.61M USD Point-in-time
Fixed assets, net PropertyPlantAndEquipmentNet $75.81M USD Point-in-time
Goodwill Goodwill $2.68B USD Point-in-time
Goodwill Goodwill $2.68B USD Point-in-time
Amortizable intangible assets, net IntangibleAssetsNetExcludingGoodwill $707.45M USD Point-in-time
Amortizable intangible assets, net IntangibleAssetsNetExcludingGoodwill $685.52M USD Point-in-time
Investments Investments $23.05M USD Point-in-time
Investments Investments $17.15M USD Point-in-time
Other assets OtherAssetsNoncurrent $49.37M USD Point-in-time
Other assets OtherAssetsNoncurrent $44.90M USD Point-in-time
Total assets Assets $5.20B USD Point-in-time
Total assets Assets $4.99B USD Point-in-time
Total assets Assets $5.26B USD Point-in-time
Premiums payable to insurance companies PremiumsPayableToInsuranceCompanies $643.18M USD Point-in-time
Premiums payable to insurance companies PremiumsPayableToInsuranceCompanies $647.56M USD Point-in-time
Losses and loss adjustment reserve LiabilityForClaimsAndClaimsAdjustmentExpense $39.24M USD Point-in-time
Losses and loss adjustment reserve LiabilityForClaimsAndClaimsAdjustmentExpense $78.08M USD Point-in-time
Unearned premiums UnearnedPremiums $280.14M USD Point-in-time
Unearned premiums UnearnedPremiums $308.66M USD Point-in-time
Premium deposits and credits due customers PremiumDepositsAndCreditsDueCustomers $90.85M USD Point-in-time
Premium deposits and credits due customers PremiumDepositsAndCreditsDueCustomers $83.77M USD Point-in-time
Accounts payable AccountsPayableCurrent $69.59M USD Point-in-time
Accounts payable AccountsPayableCurrent $104.82M USD Point-in-time
Accrued expenses and other liabilities AccruedLiabilitiesCurrent $124.68M USD Point-in-time
Accrued expenses and other liabilities AccruedLiabilitiesCurrent $201.99M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $55.00M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $55.50M USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.45B USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.34B USD Point-in-time
Long-term debt, less unamortized discount and debt issuance costs LongTermDebtNoncurrent $1.02B USD Point-in-time
Long-term debt, less unamortized discount and debt issuance costs LongTermDebtNoncurrent $1.01B USD Point-in-time
Deferred income taxes, net DeferredTaxLiabilitiesNoncurrent $368.32M USD Point-in-time
Deferred income taxes, net DeferredTaxLiabilitiesNoncurrent $357.69M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $81.31M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $70.37M USD Point-in-time
Common stock, par value $0.10 per share; authorized 280,000 shares; issued 148,277 shares and outstanding 140,274 shares at 2017, issued 148,107 shares and outstanding 140,104 shares at 2016 CommonStockValue $14.83M USD Point-in-time
Common stock, par value $0.10 per share; authorized 280,000 shares; issued 148,277 shares and outstanding 140,274 shares at 2017, issued 148,107 shares and outstanding 140,104 shares at 2016 CommonStockValue $14.81M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $468.44M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $472.75M USD Point-in-time
Treasury stock, at cost 8,003 shares at 2017 and 2016, respectively TreasuryStockValue $257.68M USD Point-in-time
Treasury stock, at cost 8,003 shares at 2017 and 2016, respectively TreasuryStockValue $257.68M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $2.13B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $2.19B USD Point-in-time
Total shareholders equity StockholdersEquity $2.36B USD Point-in-time
Total shareholders equity StockholdersEquity $2.42B USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $5.20B USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $5.26B USD Point-in-time
Income Statement 36 line items
Line Item Tag Value Unit Period
Commissions and fees InsuranceCommissionsAndFees $444.57M USD 1 Quarter
Commissions and fees InsuranceCommissionsAndFees $422.33M USD 1 Quarter
Investment income InvestmentIncomeNonoperating $418.00K USD 1 Quarter
Investment income InvestmentIncomeNonoperating $243.00K USD 1 Quarter
Other income, net OtherIncome $1.42M USD 1 Quarter
Other income, net OtherIncome $20.27M USD 1 Quarter
Total revenues Revenues $424.17M USD 1 Quarter
Total revenues Revenues $465.08M USD 1 Quarter
Employee compensation and benefits EmployeeCompensationAndBenefits $245.87M USD 1 Quarter
Employee compensation and benefits EmployeeCompensationAndBenefits $224.06M USD 1 Quarter
Other operating expenses OtherCostAndExpenseOperating $63.60M USD 1 Quarter
Other operating expenses OtherCostAndExpenseOperating $66.92M USD 1 Quarter
Gain on disposal GainLossOnDispositionOfAssets1 $100.00K USD 1 Quarter
Gain on disposal GainLossOnDispositionOfAssets1 $2.04M USD 1 Quarter
Amortization AdjustmentForAmortization $21.61M USD 1 Quarter
Amortization AdjustmentForAmortization $21.62M USD 1 Quarter
Depreciation Depreciation $5.32M USD 1 Quarter
Depreciation Depreciation $6.10M USD 1 Quarter
Interest InterestExpense $9.68M USD 1 Quarter
Interest InterestExpense $9.90M USD 1 Quarter
Change in estimated acquisition earn-out payables ChangeInEstimatedAcquisitionEarnOutPayable $-821.00K USD 1 Quarter
Change in estimated acquisition earn-out payables ChangeInEstimatedAcquisitionEarnOutPayable $4.03M USD 1 Quarter
Total expenses OperatingExpenses $321.62M USD 1 Quarter
Total expenses OperatingExpenses $354.11M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $102.55M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $110.97M USD 1 Quarter
Income taxes IncomeTaxExpenseBenefit $40.48M USD 1 Quarter
Income taxes IncomeTaxExpenseBenefit $40.86M USD 1 Quarter
Net income NetIncomeLoss $62.07M USD 1 Quarter
Net income NetIncomeLoss $70.11M USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.50 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.45 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.44 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.49 USD 1 Quarter
Dividends declared per share (in dollars per share) CommonStockDividendsPerShareDeclared $0.14 USD 1 Quarter
Dividends declared per share (in dollars per share) CommonStockDividendsPerShareDeclared $0.12 USD 1 Quarter
Cash Flow Statement 88 line items
Line Item Tag Value Unit Period
Cash, Cash Equivalents and Restricted Cash CashCashEquivalentsandRestrictedCash $826.09M USD 1 Quarter
Cash, Cash Equivalents and Restricted Cash CashCashEquivalentsandRestrictedCash $632.92M USD 1 Quarter
Net income NetIncomeLoss $62.07M USD 1 Quarter
Net income NetIncomeLoss $70.11M USD 1 Quarter
Amortization AdjustmentForAmortization $21.61M USD 1 Quarter
Amortization AdjustmentForAmortization $21.62M USD 1 Quarter
Depreciation Depreciation $5.32M USD 1 Quarter
Depreciation Depreciation $6.10M USD 1 Quarter
Non-cash stock-based compensation ShareBasedCompensation $8.56M USD 1 Quarter
Non-cash stock-based compensation ShareBasedCompensation $2.77M USD 1 Quarter
Change in estimated acquisition earn-out payables ChangeInEstimatedAcquisitionEarnOutPayable $-821.00K USD 1 Quarter
Change in estimated acquisition earn-out payables ChangeInEstimatedAcquisitionEarnOutPayable $4.03M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $10.01M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $9.93M USD 1 Quarter
Amortization of debt discount AmortizationOfDebtDiscountPremium $39.00K USD 1 Quarter
Amortization of debt discount AmortizationOfDebtDiscountPremium $39.00K USD 1 Quarter
Deferred Finance Costs, Own-share Lending Arrangement, Issuance Costs, Amortization Expense DeferredFinanceCostsOwnShareLendingArrangementIssuanceCostsAmortizationExpense1 $420.00K USD 1 Quarter
Deferred Finance Costs, Own-share Lending Arrangement, Issuance Costs, Amortization Expense DeferredFinanceCostsOwnShareLendingArrangementIssuanceCostsAmortizationExpense1 $383.00K USD 1 Quarter
Accretion (Amortization) of Discounts and Premiums, Investments AccretionAmortizationOfDiscountsAndPremiumsInvestments $-18.00K USD 1 Quarter
Accretion (Amortization) of Discounts and Premiums, Investments AccretionAmortizationOfDiscountsAndPremiumsInvestments $-8.00K USD 1 Quarter
Income tax benefit from exercise of shares from the stock benefit plans ExcessTaxBenefitFromShareBasedCompensationOperatingActivities - USD 1 Quarter
Income tax benefit from exercise of shares from the stock benefit plans ExcessTaxBenefitFromShareBasedCompensationOperatingActivities $1.25M USD 1 Quarter
Payments On Acquisition Earn Outs In Excess Of Original Estimated Payables PaymentsOnAcquisitionEarnOutsInExcessOfOriginalEstimatedPayables $4.55M USD 1 Quarter
Payments On Acquisition Earn Outs In Excess Of Original Estimated Payables PaymentsOnAcquisitionEarnOutsInExcessOfOriginalEstimatedPayables $3.55M USD 1 Quarter
Net gain on sales of investments, fixed assets and customer accounts NetLossGainOnSalesOfInvestmentsFixedAssetsAndCustomerAccounts $2.00K USD 1 Quarter
Net gain on sales of investments, fixed assets and customer accounts NetLossGainOnSalesOfInvestmentsFixedAssetsAndCustomerAccounts $1.91M USD 1 Quarter
Premiums, commissions and fees receivable decrease IncreaseDecreaseInPremiumsCommissionAndFeesReceivable $-16.30M USD 1 Quarter
Premiums, commissions and fees receivable decrease IncreaseDecreaseInPremiumsCommissionAndFeesReceivable $-5.23M USD 1 Quarter
Reinsurance recoverables decrease (increase) IncreaseDecreaseInReinsuranceRecoverable $-38.84M USD 1 Quarter
Reinsurance recoverables decrease (increase) IncreaseDecreaseInReinsuranceRecoverable $26.16M USD 1 Quarter
Prepaid reinsurance premiums decrease IncreaseDecreaseInPrepaidReinsurancePremiums $-29.86M USD 1 Quarter
Prepaid reinsurance premiums decrease IncreaseDecreaseInPrepaidReinsurancePremiums $-28.52M USD 1 Quarter
Other assets decrease (increase) IncreaseDecreaseInOtherOperatingAssets $-1.40M USD 1 Quarter
Other assets decrease (increase) IncreaseDecreaseInOtherOperatingAssets $21.25M USD 1 Quarter
Premiums payable to insurance companies (decrease) IncreaseDecreaseInPremiumsPayableToInsuranceCompanies $-21.14M USD 1 Quarter
Premiums payable to insurance companies (decrease) IncreaseDecreaseInPremiumsPayableToInsuranceCompanies $-4.38M USD 1 Quarter
Premium deposits and credits due customers increase IncreaseDecreaseInPremiumDepositsAndCreditsDueCustomersDecreaseIncrease $6.24M USD 1 Quarter
Premium deposits and credits due customers increase IncreaseDecreaseInPremiumDepositsAndCreditsDueCustomersDecreaseIncrease $7.09M USD 1 Quarter
Losses and loss adjustment reserve (decrease) increase IncreaseDecreaseForLossAndLossAdjustmentExpense $26.16M USD 1 Quarter
Losses and loss adjustment reserve (decrease) increase IncreaseDecreaseForLossAndLossAdjustmentExpense $-38.84M USD 1 Quarter
Unearned premiums (decrease) IncreaseDecreaseInUnearnedPremiums $-28.52M USD 1 Quarter
Unearned premiums (decrease) IncreaseDecreaseInUnearnedPremiums $-29.86M USD 1 Quarter
Accounts payable increase IncreaseDecreaseInAccountsPayable $45.39M USD 1 Quarter
Accounts payable increase IncreaseDecreaseInAccountsPayable $22.96M USD 1 Quarter
Accrued expenses and other liabilities (decrease) IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities $-50.03M USD 1 Quarter
Accrued expenses and other liabilities (decrease) IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities $-77.33M USD 1 Quarter
Other liabilities (decrease) IncreaseDecreaseInOtherOperatingLiabilities $-14.75M USD 1 Quarter
Other liabilities (decrease) IncreaseDecreaseInOtherOperatingLiabilities $-3.44M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $33.22M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $90.02M USD 1 Quarter
Additions to fixed assets PaymentsToAcquirePropertyPlantAndEquipment $3.03M USD 1 Quarter
Additions to fixed assets PaymentsToAcquirePropertyPlantAndEquipment $4.25M USD 1 Quarter
Payments for businesses acquired, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $40.60M USD 1 Quarter
Payments for businesses acquired, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired - USD 1 Quarter
Proceeds from sales of fixed assets and customer accounts ProceedsFromSaleOfProductiveAssets $589.00K USD 1 Quarter
Proceeds from sales of fixed assets and customer accounts ProceedsFromSaleOfProductiveAssets $2.47M USD 1 Quarter
Purchases of investments PaymentsToAcquireInvestments $10.11M USD 1 Quarter
Purchases of investments PaymentsToAcquireInvestments $379.00K USD 1 Quarter
Proceeds from Sale, Maturity and Collection of Investments ProceedsFromSaleMaturityAndCollectionsOfInvestments $679.00K USD 1 Quarter
Proceeds from Sale, Maturity and Collection of Investments ProceedsFromSaleMaturityAndCollectionsOfInvestments $7.60M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-44.89M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-2.14M USD 1 Quarter
Payments on acquisition earn-outs PaymentsOnAcquisitionEarnOuts $5.68M USD 1 Quarter
Payments on acquisition earn-outs PaymentsOnAcquisitionEarnOuts $5.53M USD 1 Quarter
Proceeds from long-term debt RepaymentsOfLongTermDebt $6.88M USD 1 Quarter
Proceeds from long-term debt RepaymentsOfLongTermDebt $14.25M USD 1 Quarter
Income tax benefit from exercise of shares from the stock benefit plans ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $1.25M USD 1 Quarter
Income tax benefit from exercise of shares from the stock benefit plans ExcessTaxBenefitFromShareBasedCompensationFinancingActivities - USD 1 Quarter
Issuances of common stock for employee stock benefit plans ProceedsFromStockOptionsExercised $916.00K USD 1 Quarter
Issuances of common stock for employee stock benefit plans ProceedsFromStockOptionsExercised $506.00K USD 1 Quarter
Repurchase Of Stock Benefit Plan Shares For Employees To Fund Tax Withholdings RepurchaseOfStockBenefitPlanSharesForEmployeesToFundTaxWithholdings $4.74M USD 1 Quarter
Repurchase Of Stock Benefit Plan Shares For Employees To Fund Tax Withholdings RepurchaseOfStockBenefitPlanSharesForEmployeesToFundTaxWithholdings $1.39M USD 1 Quarter
Purchase of treasury stock PaymentsForRepurchaseOfCommonStock $11.25M USD 1 Quarter
Purchase of treasury stock PaymentsForRepurchaseOfCommonStock - USD 1 Quarter
Settlement of accelerated share repurchase program PaymentsForRepurchaseOfOtherEquity - USD 1 Quarter
Settlement of accelerated share repurchase program PaymentsForRepurchaseOfOtherEquity $-11.25M USD 1 Quarter
Cash dividends paid PaymentsOfDividends $16.96M USD 1 Quarter
Cash dividends paid PaymentsOfDividends $18.90M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-43.07M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-28.58M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents inclusive of restricted cash CashAndCashEquivalentsPeriodIncreaseDecrease $44.81M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents inclusive of restricted cash CashAndCashEquivalentsPeriodIncreaseDecrease $-40.25M USD 1 Quarter
Cash, Cash Equivalents and Restricted Cash- Beginning Balance CashCashEquivalentsandRestrictedCashBeginningBalance $781.28M USD Annual
Cash, Cash Equivalents and Restricted Cash- Beginning Balance CashCashEquivalentsandRestrictedCashBeginningBalance $673.17M USD Annual
Cash and cash equivalents inclusive of restricted cash at beginning of period CashAndCashEquivalentsAtCarryingValue $443.42M USD Point-in-time
Cash and cash equivalents inclusive of restricted cash at beginning of period CashAndCashEquivalentsAtCarryingValue $546.72M USD Point-in-time
Cash and cash equivalents inclusive of restricted cash at beginning of period CashAndCashEquivalentsAtCarryingValue $515.65M USD Point-in-time
Cash and cash equivalents inclusive of restricted cash at beginning of period CashAndCashEquivalentsAtCarryingValue $401.85M USD Point-in-time

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

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