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10-Q/A Filing

BROWN & BROWN, INC. CIK: 79282 Q1 2016
Filing Information
Form Type 10-Q/A
Accession Number 0000079282-17-000044
Period End Date 20160331
Filing Date 20170818
Fiscal Year 2016
Fiscal Period Q1
XBRL Instance bro-20160331.xml
Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 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
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $443.42M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $340.73M USD Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 147,967.00 shares Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 146,415.00 shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $401.85M USD Point-in-time
Common stock, shares outstanding (in shares) CommonStockSharesOutstanding 138,985.00 shares Point-in-time
Restricted cash and investments RestrictedCashAndInvestmentsCurrent $229.75M USD Point-in-time
Common stock, shares outstanding (in shares) CommonStockSharesOutstanding 140,173.00 shares Point-in-time
Restricted cash and investments RestrictedCashAndInvestmentsCurrent $231.07M USD Point-in-time
Treasury stock shares (in shares) TreasuryStockShares 7.79M shares Point-in-time
Treasury stock shares (in shares) TreasuryStockShares 7.43M shares Point-in-time
Short-term investments ShortTermInvestments $13.88M USD Point-in-time
Treasury stock shares (in shares) TreasuryStockShares 3.06M shares Point-in-time
Short-term investments ShortTermInvestments $13.73M USD Point-in-time
Tax effect of accumulated other comprehensive income OtherComprehensiveIncomeLossTax - USD 1 Quarter
Premiums, commissions and fees receivable PremiumsCommissionsAndFeesReceivable $433.88M USD Point-in-time
Premiums, commissions and fees receivable PremiumsCommissionsAndFeesReceivable $430.00M USD Point-in-time
Tax effect of accumulated other comprehensive income OtherComprehensiveIncomeLossTax - USD 1 Quarter
Reinsurance recoverable ReinsuranceRecoverablesGross $31.97M USD Point-in-time
Reinsurance recoverable ReinsuranceRecoverablesGross $58.13M USD Point-in-time
Prepaid reinsurance premiums PrepaidReinsurancePremiums $309.64M USD Point-in-time
Prepaid reinsurance premiums PrepaidReinsurancePremiums $279.78M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetCurrent $14.13M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetCurrent $24.64M USD Point-in-time
Other current assets OtherAssetsCurrent $67.78M USD Point-in-time
Other current assets OtherAssetsCurrent $50.35M USD Point-in-time
Total current assets AssetsCurrent $1.50B USD Point-in-time
Total current assets AssetsCurrent $1.54B USD Point-in-time
Fixed assets, net PropertyPlantAndEquipmentNet $80.90M USD Point-in-time
Fixed assets, net PropertyPlantAndEquipmentNet $81.75M USD Point-in-time
Goodwill Goodwill $2.59B USD Point-in-time
Goodwill Goodwill $2.62B USD Point-in-time
Amortizable intangible assets, net IntangibleAssetsNetExcludingGoodwill $739.55M USD Point-in-time
Amortizable intangible assets, net IntangibleAssetsNetExcludingGoodwill $744.68M USD Point-in-time
Investments Investments $20.52M USD Point-in-time
Investments Investments $18.09M USD Point-in-time
Other assets OtherAssetsNoncurrent $35.88M USD Point-in-time
Other assets OtherAssetsNoncurrent $39.73M USD Point-in-time
Total assets Assets $5.00B USD Point-in-time
Total assets Assets $4.84B USD Point-in-time
Total assets Assets $4.99B USD Point-in-time
Premiums payable to insurance companies PremiumsPayableToInsuranceCompanies $554.53M USD Point-in-time
Premiums payable to insurance companies PremiumsPayableToInsuranceCompanies $574.74M USD Point-in-time
Losses and loss adjustment reserve LiabilityForClaimsAndClaimsAdjustmentExpense $31.97M USD Point-in-time
Losses and loss adjustment reserve LiabilityForClaimsAndClaimsAdjustmentExpense $58.13M USD Point-in-time
Unearned premiums UnearnedPremiums $309.64M USD Point-in-time
Unearned premiums UnearnedPremiums $279.78M USD Point-in-time
Premium deposits and credits due customers PremiumDepositsAndCreditsDueCustomers $89.34M USD Point-in-time
Premium deposits and credits due customers PremiumDepositsAndCreditsDueCustomers $83.10M USD Point-in-time
Accounts payable AccountsPayableCurrent $77.91M USD Point-in-time
Accounts payable AccountsPayableCurrent $63.91M USD Point-in-time
Accrued expenses and other liabilities AccruedLiabilitiesCurrent $192.07M USD Point-in-time
Accrued expenses and other liabilities AccruedLiabilitiesCurrent $143.18M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $80.49M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $73.12M USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.28B USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.33B USD Point-in-time
Long-term debt less unamortized discount and debt issuance costs LongTermDebtNoncurrent $1.06B USD Point-in-time
Long-term debt less unamortized discount and debt issuance costs LongTermDebtNoncurrent $1.07B USD Point-in-time
Deferred income taxes, net DeferredTaxLiabilitiesNoncurrent $360.95M USD Point-in-time
Deferred income taxes, net DeferredTaxLiabilitiesNoncurrent $363.58M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $93.59M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $89.16M USD Point-in-time
Common stock, par value $0.10 per share; authorized 280,000 shares; issued 147,967 shares and outstanding 140,173 shares at 2016, issued 146,415 shares and outstanding 138,985 shares at 2015 CommonStockValue $14.80M USD Point-in-time
Common stock, par value $0.10 per share; authorized 280,000 shares; issued 147,967 shares and outstanding 140,173 shares at 2016, issued 146,415 shares and outstanding 138,985 shares at 2015 CommonStockValue $14.64M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $441.24M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $426.50M USD Point-in-time
Treasury stock, at cost 7,794 and 7,430 shares at 2016 and 2015, respectively TreasuryStockValue $238.78M USD Point-in-time
Treasury stock, at cost 7,794 and 7,430 shares at 2016 and 2015, respectively TreasuryStockValue $250.03M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.95B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.99B USD Point-in-time
Total shareholders equity StockholdersEquity $2.20B USD Point-in-time
Total shareholders equity StockholdersEquity $2.15B USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $4.99B USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $5.00B USD Point-in-time
Income Statement 36 line items
Line Item Tag Value Unit Period
Commissions and fees InsuranceCommissionsAndFees $403.78M USD 1 Quarter
Commissions and fees InsuranceCommissionsAndFees $422.33M USD 1 Quarter
Investment income InvestmentIncomeNonoperating $220.00K USD 1 Quarter
Investment income InvestmentIncomeNonoperating $418.00K USD 1 Quarter
Other income, net OtherIncome $1.42M USD 1 Quarter
Other income, net OtherIncome $297.00K USD 1 Quarter
Total revenues Revenues $424.17M USD 1 Quarter
Total revenues Revenues $404.30M USD 1 Quarter
Employee compensation and benefits EmployeeCompensationAndBenefits $224.06M USD 1 Quarter
Employee compensation and benefits EmployeeCompensationAndBenefits $211.66M USD 1 Quarter
Other operating expenses OtherCostAndExpenseOperating $61.09M USD 1 Quarter
Other operating expenses OtherCostAndExpenseOperating $63.60M USD 1 Quarter
Gain on disposal GainLossOnDispositionOfAssets1 $2.04M USD 1 Quarter
Gain on disposal GainLossOnDispositionOfAssets1 $257.00K USD 1 Quarter
Amortization AdjustmentForAmortization $21.62M USD 1 Quarter
Amortization AdjustmentForAmortization $21.61M USD 1 Quarter
Depreciation Depreciation $5.32M USD 1 Quarter
Depreciation Depreciation $5.18M USD 1 Quarter
Interest InterestExpense $9.85M 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 $1.36M USD 1 Quarter
Total expenses OperatingExpenses $321.62M USD 1 Quarter
Total expenses OperatingExpenses $310.52M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $93.78M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $102.55M USD 1 Quarter
Income taxes IncomeTaxExpenseBenefit $36.83M USD 1 Quarter
Income taxes IncomeTaxExpenseBenefit $40.48M USD 1 Quarter
Net income NetIncomeLoss $62.07M USD 1 Quarter
Net income NetIncomeLoss $56.95M USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.45 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.40 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.44 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.39 USD 1 Quarter
Dividends declared per share (in dollars per share) CommonStockDividendsPerShareDeclared $0.12 USD 1 Quarter
Dividends declared per share (in dollars per share) CommonStockDividendsPerShareDeclared $0.11 USD 1 Quarter
Cash Flow Statement 91 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $62.07M USD 1 Quarter
Net income NetIncomeLoss $56.95M USD 1 Quarter
Amortization AdjustmentForAmortization $21.62M USD 1 Quarter
Amortization AdjustmentForAmortization $21.61M USD 1 Quarter
Depreciation Depreciation $5.32M USD 1 Quarter
Depreciation Depreciation $5.18M USD 1 Quarter
Non-cash stock-based compensation ShareBasedCompensation $15.50M USD Annual
Non-cash stock-based compensation ShareBasedCompensation $6.36M 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 $1.36M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $6.62M 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 $390.00K USD 1 Quarter
Deferred Finance Costs, Own-share Lending Arrangement, Issuance Costs, Amortization Expense DeferredFinanceCostsOwnShareLendingArrangementIssuanceCostsAmortizationExpense1 $420.00K USD 1 Quarter
Accretion (Amortization) of Discounts and Premiums, Investments AccretionAmortizationOfDiscountsAndPremiumsInvestments - USD 1 Quarter
Accretion (Amortization) of Discounts and Premiums, Investments AccretionAmortizationOfDiscountsAndPremiumsInvestments $-18.00K USD 1 Quarter
Income tax benefit from exercise of shares from the stock benefit plans ExcessTaxBenefitFromShareBasedCompensationOperatingActivities $1.78M 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 - 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 $1.91M 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 $1.32M USD 1 Quarter
Premiums, commissions and fees receivable decrease (increase) IncreaseDecreaseInPremiumsCommissionAndFeesReceivable $5.13M USD 1 Quarter
Premiums, commissions and fees receivable decrease (increase) IncreaseDecreaseInPremiumsCommissionAndFeesReceivable $-5.23M USD 1 Quarter
Reinsurance recoverables (increase) IncreaseDecreaseInReinsuranceRecoverable $64.00K USD 1 Quarter
Reinsurance recoverables (increase) IncreaseDecreaseInReinsuranceRecoverable $26.16M USD 1 Quarter
Prepaid reinsurance premiums decrease IncreaseDecreaseInPrepaidReinsurancePremiums $-29.55M USD 1 Quarter
Prepaid reinsurance premiums decrease IncreaseDecreaseInPrepaidReinsurancePremiums $-29.86M USD 1 Quarter
Other assets (increase) IncreaseDecreaseInOtherOperatingAssets $21.25M USD 1 Quarter
Other assets (increase) IncreaseDecreaseInOtherOperatingAssets $7.04M USD 1 Quarter
Premiums payable to insurance companies (decrease) increase IncreaseDecreaseInPremiumsPayableToInsuranceCompanies $18.54M USD 1 Quarter
Premiums payable to insurance companies (decrease) increase IncreaseDecreaseInPremiumsPayableToInsuranceCompanies $-21.14M USD 1 Quarter
Premium deposits and credits due customers increase (decrease) IncreaseDecreaseInPremiumDepositsAndCreditsDueCustomersDecreaseIncrease $6.24M USD 1 Quarter
Premium deposits and credits due customers increase (decrease) 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 $26.16M USD 1 Quarter
Unearned premiums (decrease) IncreaseDecreaseInUnearnedPremiums $-29.86M USD 1 Quarter
Unearned premiums (decrease) IncreaseDecreaseInUnearnedPremiums $-29.55M USD 1 Quarter
Accounts payable increase IncreaseDecreaseInAccountsPayable $22.96M 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 $-50.03M USD 1 Quarter
Other liabilities (decrease) IncreaseDecreaseInOtherOperatingLiabilities $-2.21M USD 1 Quarter
Other liabilities (decrease) IncreaseDecreaseInOtherOperatingLiabilities $-3.44M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $31.90M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $50.70M USD 1 Quarter
Additions to fixed assets PaymentsToAcquirePropertyPlantAndEquipment $4.25M USD 1 Quarter
Additions to fixed assets PaymentsToAcquirePropertyPlantAndEquipment $3.73M 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 $36.20M USD 1 Quarter
Proceeds from sales of fixed assets and customer accounts ProceedsFromSaleOfProductiveAssets $2.47M USD 1 Quarter
Proceeds from sales of fixed assets and customer accounts ProceedsFromSaleOfProductiveAssets $3.71M USD 1 Quarter
Purchases of investments PaymentsToAcquireInvestments $10.11M USD 1 Quarter
Purchases of investments PaymentsToAcquireInvestments $7.72M USD 1 Quarter
Proceeds from Sale, Maturity and Collection of Investments ProceedsFromSaleMaturityAndCollectionsOfInvestments $9.13M 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 $-34.80M USD 1 Quarter
Payments on acquisition earn-outs PaymentsOnAcquisitionEarnOuts $4.59M USD 1 Quarter
Payments on acquisition earn-outs PaymentsOnAcquisitionEarnOuts $5.53M USD 1 Quarter
Payments on long-term debt RepaymentsOfLongTermDebt $6.88M 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 $1.25M 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 $916.00K USD 1 Quarter
Repurchase Of Stock Benefit Plan Shares For Employees To Fund Tax Withholdings RepurchaseOfStockBenefitPlanSharesForEmployeesToFundTaxWithholdings $1.39M USD 1 Quarter
Repurchase Of Stock Benefit Plan Shares For Employees To Fund Tax Withholdings RepurchaseOfStockBenefitPlanSharesForEmployeesToFundTaxWithholdings $2.12M USD 1 Quarter
Purchase of treasury stock PaymentsForRepurchaseOfCommonStock $85.00M USD 1 Quarter
Purchase of treasury stock PaymentsForRepurchaseOfCommonStock $11.25M USD 1 Quarter
Prepayment of accelerated share repurchase program PaymentsForRepurchaseOfOtherEquity $-11.25M 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 $16.96M USD 1 Quarter
Net cash (used in) financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-145.22M USD 1 Quarter
Net cash (used in) financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-28.58M USD 1 Quarter
Net (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-129.32M USD 1 Quarter
Net (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-41.57M 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 $443.42M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $340.73M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $401.85M 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 $443.42M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $340.73M USD Point-in-time
Cash and cash equivalents at end 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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