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10-Q Filing

BROWN & BROWN, INC. CIK: 79282 Q1 2018
Filing Information
Form Type 10-Q
Accession Number 0000079282-18-000020
Period End Date 20180331
Filing Date 20180510
Fiscal Year 2018
Fiscal Period Q1
XBRL Instance bro-20180131x10q_htm.xml
Filing Contents

This filing contains the following financial statements:

Balance Sheet 75 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 560.00M shares Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 560.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $515.65M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $558.25M USD Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 286.93M shares Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 286.96M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $546.72M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $573.38M USD Point-in-time
Restricted cash and investments RestrictedCashAndInvestmentsCurrent $268.13M USD Point-in-time
Common stock, shares outstanding (in shares) CommonStockSharesOutstanding 276.07M shares Point-in-time
Restricted cash and investments RestrictedCashAndInvestmentsCurrent $250.71M USD Point-in-time
Common stock, shares outstanding (in shares) CommonStockSharesOutstanding 276.21M shares Point-in-time
Short-term investments ShortTermInvestments $24.96M USD Point-in-time
Treasury stock shares (in shares) TreasuryStockShares 10.89M shares Point-in-time
Treasury stock shares (in shares) TreasuryStockShares 10.72M shares Point-in-time
Short-term investments ShortTermInvestments $20.84M USD Point-in-time
Premiums, commissions and fees receivable PremiumsCommissionsAndFeesReceivable $546.40M USD Point-in-time
Premiums, commissions and fees receivable PremiumsCommissionsAndFeesReceivable $694.27M USD Point-in-time
Reinsurance recoverable ReinsuranceRecoverablesGross $477.82M USD Point-in-time
Reinsurance recoverable ReinsuranceRecoverablesGross $148.05M USD Point-in-time
Prepaid reinsurance premiums PrepaidReinsurancePremiums $292.17M USD Point-in-time
Prepaid reinsurance premiums PrepaidReinsurancePremiums $321.02M USD Point-in-time
Other current assets OtherAssetsCurrent $47.86M USD Point-in-time
Other current assets OtherAssetsCurrent $92.90M USD Point-in-time
Total current assets AssetsCurrent $2.07B USD Point-in-time
Total current assets AssetsCurrent $2.24B USD Point-in-time
Fixed assets, net PropertyPlantAndEquipmentNet $77.09M USD Point-in-time
Fixed assets, net PropertyPlantAndEquipmentNet $81.13M USD Point-in-time
Goodwill Goodwill $2.75B USD Point-in-time
Goodwill Goodwill $2.72B USD Point-in-time
Amortizable intangible assets, net IntangibleAssetsNetExcludingGoodwill $630.28M USD Point-in-time
Amortizable intangible assets, net IntangibleAssetsNetExcludingGoodwill $641.00M USD Point-in-time
Investments Investments $13.95M USD Point-in-time
Investments Investments $17.56M USD Point-in-time
Other assets OtherAssetsNoncurrent $57.27M USD Point-in-time
Other assets OtherAssetsNoncurrent $64.06M USD Point-in-time
Total assets Assets $5.20B USD Point-in-time
Total assets Assets $5.75B USD Point-in-time
Total assets Assets $5.62B USD Point-in-time
Premiums payable to insurance companies PremiumsPayableToInsuranceCompanies $695.96M USD Point-in-time
Premiums payable to insurance companies PremiumsPayableToInsuranceCompanies $685.16M USD Point-in-time
Losses and loss adjustment reserve LiabilityForClaimsAndClaimsAdjustmentExpense $476.72M USD Point-in-time
Losses and loss adjustment reserve LiabilityForClaimsAndClaimsAdjustmentExpense $146.85M USD Point-in-time
Unearned premiums UnearnedPremiums $321.02M USD Point-in-time
Unearned premiums UnearnedPremiums $292.17M USD Point-in-time
Premium deposits and credits due customers PremiumDepositsAndCreditsDueCustomers $91.65M USD Point-in-time
Premium deposits and credits due customers PremiumDepositsAndCreditsDueCustomers $97.59M USD Point-in-time
Accounts payable AccountsPayableCurrent $64.18M USD Point-in-time
Accounts payable AccountsPayableCurrent $125.03M USD Point-in-time
Accrued expenses and other liabilities AccruedLiabilitiesCurrent $228.75M USD Point-in-time
Accrued expenses and other liabilities AccruedLiabilitiesCurrent $157.03M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $120.00M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $120.00M USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.99B USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.63B USD Point-in-time
Long-term debt less unamortized discount and debt issuance costs LongTermDebtNoncurrent $851.55M USD Point-in-time
Long-term debt less unamortized discount and debt issuance costs LongTermDebtNoncurrent $856.14M USD Point-in-time
Deferred income taxes, net DeferredTaxLiabilitiesNoncurrent $288.65M USD Point-in-time
Deferred income taxes, net DeferredTaxLiabilitiesNoncurrent $256.19M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $69.66M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $65.05M USD Point-in-time
Common stock, par value $0.10 per share; authorized 560,000 shares; issued 286,961 shares and outstanding 276,074 shares at 2018, issued 286,929 shares and outstanding 276,210 shares at 2017 - in thousands. 2017 share amounts restated for the 2-for-1 stock split effective March 28, 2018 CommonStockValue $28.69M USD Point-in-time
Common stock, par value $0.10 per share; authorized 560,000 shares; issued 286,961 shares and outstanding 276,074 shares at 2018, issued 286,929 shares and outstanding 276,210 shares at 2017 - in thousands. 2017 share amounts restated for the 2-for-1 stock split effective March 28, 2018 CommonStockValue $28.70M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $495.28M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $483.73M USD Point-in-time
Treasury stock, at cost at 10,887 shares at 2018 and 10,719 shares at 2017, respectively - in thousands. TreasuryStockValue $386.32M USD Point-in-time
Treasury stock, at cost at 10,887 shares at 2018 and 10,719 shares at 2017, respectively - in thousands. TreasuryStockValue $397.57M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $2.64B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $2.46B USD Point-in-time
Total shareholders equity StockholdersEquity $2.58B USD Point-in-time
Total shareholders equity StockholdersEquity $2.77B USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $5.75B USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $5.62B USD Point-in-time
Income Statement 36 line items
Line Item Tag Value Unit Period
Commissions and fees InsuranceCommissionsAndFees $500.34M USD 1 Quarter
Commissions and fees InsuranceCommissionsAndFees $444.57M USD 1 Quarter
Investment income InvestmentIncomeNonoperating $601.00K USD 1 Quarter
Investment income InvestmentIncomeNonoperating $243.00K USD 1 Quarter
Other income, net OtherIncome $20.27M USD 1 Quarter
Other income, net OtherIncome $522.00K USD 1 Quarter
Total revenues Revenues $465.08M USD 1 Quarter
Total revenues Revenues $501.46M USD 1 Quarter
Employee compensation and benefits EmployeeCompensationAndBenefits $270.90M USD 1 Quarter
Employee compensation and benefits EmployeeCompensationAndBenefits $245.87M USD 1 Quarter
Other operating expenses OtherCostAndExpenseOperating $66.92M USD 1 Quarter
Other operating expenses OtherCostAndExpenseOperating $76.31M USD 1 Quarter
(Gain)/loss on disposal GainLossOnDispositionOfAssets1 $100.00K USD 1 Quarter
(Gain)/loss on disposal GainLossOnDispositionOfAssets1 $2.42M USD 1 Quarter
Amortization AdjustmentForAmortization $21.62M USD 1 Quarter
Amortization AdjustmentForAmortization $20.54M USD 1 Quarter
Depreciation Depreciation $5.55M USD 1 Quarter
Depreciation Depreciation $6.10M USD 1 Quarter
Interest InterestExpense $9.68M USD 1 Quarter
Interest InterestExpense $9.67M USD 1 Quarter
Change in estimated acquisition earn-out payables ChangeInEstimatedAcquisitionEarnOutPayable $4.03M USD 1 Quarter
Change in estimated acquisition earn-out payables ChangeInEstimatedAcquisitionEarnOutPayable $2.47M USD 1 Quarter
Total expenses OperatingExpenses $383.02M USD 1 Quarter
Total expenses OperatingExpenses $354.11M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $118.44M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $110.97M USD 1 Quarter
Income taxes IncomeTaxExpenseBenefit $40.86M USD 1 Quarter
Income taxes IncomeTaxExpenseBenefit $27.61M USD 1 Quarter
Net income NetIncomeLoss $70.11M USD 1 Quarter
Net income NetIncomeLoss $90.83M USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.25 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.33 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.25 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.32 USD 1 Quarter
Dividends declared per share (in dollars per share) CommonStockDividendsPerShareDeclared $0.08 USD 1 Quarter
Dividends declared per share (in dollars per share) CommonStockDividendsPerShareDeclared $0.07 USD 1 Quarter
Cash Flow Statement 84 line items
Line Item Tag Value Unit Period
Cash, Cash Equivalents and Restricted Cash CashCashEquivalentsandRestrictedCash $824.09M USD Annual
Cash, Cash Equivalents and Restricted Cash CashCashEquivalentsandRestrictedCash $826.09M USD 1 Quarter
Cash, Cash Equivalents and Restricted Cash CashCashEquivalentsandRestrictedCash $826.38M USD 1 Quarter
Cash, Cash Equivalents and Restricted Cash CashCashEquivalentsandRestrictedCash $781.28M USD Annual
Net income NetIncomeLoss $70.11M USD 1 Quarter
Net income NetIncomeLoss $90.83M USD 1 Quarter
Amortization AdjustmentForAmortization $21.62M USD 1 Quarter
Amortization AdjustmentForAmortization $20.54M USD 1 Quarter
Depreciation Depreciation $5.55M USD 1 Quarter
Depreciation Depreciation $6.10M USD 1 Quarter
Non-cash stock-based compensation ShareBasedCompensation $7.29M USD 1 Quarter
Non-cash stock-based compensation ShareBasedCompensation $8.56M USD 1 Quarter
Change in estimated acquisition earn-out payables ChangeInEstimatedAcquisitionEarnOutPayable $4.03M USD 1 Quarter
Change in estimated acquisition earn-out payables ChangeInEstimatedAcquisitionEarnOutPayable $2.47M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $10.01M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-12.09M 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 $383.00K USD 1 Quarter
Deferred Finance Costs, Own-share Lending Arrangement, Issuance Costs, Amortization Expense DeferredFinanceCostsOwnShareLendingArrangementIssuanceCostsAmortizationExpense1 $368.00K USD 1 Quarter
Accretion (Amortization) of Discounts and Premiums, Investments AccretionAmortizationOfDiscountsAndPremiumsInvestments $-8.00K USD 1 Quarter
Accretion (Amortization) of Discounts and Premiums, Investments AccretionAmortizationOfDiscountsAndPremiumsInvestments $-3.00K USD 1 Quarter
Payments On Acquisition Earn Outs In Excess Of Original Estimated Payables PaymentsOnAcquisitionEarnOutsInExcessOfOriginalEstimatedPayables $715.00K USD 1 Quarter
Payments On Acquisition Earn Outs In Excess Of Original Estimated Payables PaymentsOnAcquisitionEarnOutsInExcessOfOriginalEstimatedPayables $4.55M 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 $2.39M USD 1 Quarter
Premiums, commissions and fees receivable decrease IncreaseDecreaseInPremiumsCommissionAndFeesReceivable $-16.30M USD 1 Quarter
Premiums, commissions and fees receivable decrease IncreaseDecreaseInPremiumsCommissionAndFeesReceivable $-7.67M USD 1 Quarter
Reinsurance recoverables decrease IncreaseDecreaseInReinsuranceRecoverable $-38.84M USD 1 Quarter
Reinsurance recoverables decrease IncreaseDecreaseInReinsuranceRecoverable $-329.77M USD 1 Quarter
Prepaid reinsurance premiums decrease IncreaseDecreaseInPrepaidReinsurancePremiums $-28.84M USD 1 Quarter
Prepaid reinsurance premiums decrease IncreaseDecreaseInPrepaidReinsurancePremiums $-28.52M USD 1 Quarter
Other assets decrease IncreaseDecreaseInOtherOperatingAssets $-1.40M USD 1 Quarter
Other assets decrease IncreaseDecreaseInOtherOperatingAssets $-806.00K USD 1 Quarter
Premiums payable to insurance companies (decrease) IncreaseDecreaseInPremiumsPayableToInsuranceCompanies $-4.38M USD 1 Quarter
Premiums payable to insurance companies (decrease) IncreaseDecreaseInPremiumsPayableToInsuranceCompanies $-2.69M USD 1 Quarter
Premium deposits and credits due customers increase IncreaseDecreaseInPremiumDepositsAndCreditsDueCustomersDecreaseIncrease $5.91M USD 1 Quarter
Premium deposits and credits due customers increase IncreaseDecreaseInPremiumDepositsAndCreditsDueCustomersDecreaseIncrease $7.09M USD 1 Quarter
Losses and loss adjustment reserve (decrease) IncreaseDecreaseForLossAndLossAdjustmentExpense $-38.84M USD 1 Quarter
Losses and loss adjustment reserve (decrease) IncreaseDecreaseForLossAndLossAdjustmentExpense $-329.87M USD 1 Quarter
Unearned premiums (decrease) IncreaseDecreaseInUnearnedPremiums $-28.84M USD 1 Quarter
Unearned premiums (decrease) IncreaseDecreaseInUnearnedPremiums $-28.52M USD 1 Quarter
Accounts payable increase IncreaseDecreaseInAccountsPayable $45.39M USD 1 Quarter
Accounts payable increase IncreaseDecreaseInAccountsPayable $52.90M USD 1 Quarter
Accrued expenses and other liabilities (decrease) IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities $-94.51M 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 $-2.38M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $79.48M 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 $9.75M USD 1 Quarter
Payments for businesses acquired, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired - USD 1 Quarter
Payments for businesses acquired, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $33.58M USD 1 Quarter
Proceeds from sales of fixed assets and customer accounts ProceedsFromSaleOfProductiveAssets $142.00K USD 1 Quarter
Proceeds from sales of fixed assets and customer accounts ProceedsFromSaleOfProductiveAssets $589.00K USD 1 Quarter
Purchases of investments PaymentsToAcquireInvestments $379.00K USD 1 Quarter
Purchases of investments PaymentsToAcquireInvestments $6.14M USD 1 Quarter
Proceeds from Sale, Maturity and Collection of Investments ProceedsFromSaleMaturityAndCollectionsOfInvestments $6.53M USD 1 Quarter
Proceeds from Sale, Maturity and Collection of Investments ProceedsFromSaleMaturityAndCollectionsOfInvestments $679.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-2.14M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-42.80M USD 1 Quarter
Payments on acquisition earn-outs PaymentsOnAcquisitionEarnOuts $1.76M USD 1 Quarter
Payments on acquisition earn-outs PaymentsOnAcquisitionEarnOuts $5.68M USD 1 Quarter
Payments on long-term debt RepaymentsOfLongTermDebt $5.00M USD 1 Quarter
Payments on long-term debt RepaymentsOfLongTermDebt $14.25M USD 1 Quarter
Issuances of common stock for employee stock benefit plans ProceedsFromStockOptionsExercised $506.00K USD 1 Quarter
Issuances of common stock for employee stock benefit plans ProceedsFromStockOptionsExercised $720.00K 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 $7.66M USD 1 Quarter
Purchase of treasury stock PaymentsForRepurchaseOfCommonStock $11.25M USD 1 Quarter
Purchase of treasury stock PaymentsForRepurchaseOfCommonStock - USD 1 Quarter
Settlement (prepayment) of accelerated share repurchase program PaymentsForRepurchaseOfOtherEquity $-11.25M USD 1 Quarter
Settlement (prepayment) of accelerated share repurchase program PaymentsForRepurchaseOfOtherEquity - USD 1 Quarter
Cash dividends paid PaymentsOfDividends $20.70M USD 1 Quarter
Cash dividends paid PaymentsOfDividends $18.90M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-34.40M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-43.07M USD 1 Quarter
Net increase in cash and cash equivalents inclusive of restricted cash CashAndCashEquivalentsPeriodIncreaseDecrease $2.29M USD 1 Quarter
Net increase in cash and cash equivalents inclusive of restricted cash CashAndCashEquivalentsPeriodIncreaseDecrease $44.81M USD 1 Quarter
Cash and cash equivalents inclusive of restricted cash at end of period CashAndCashEquivalentsAtCarryingValue $515.65M USD Point-in-time
Cash and cash equivalents inclusive of restricted cash at end of period CashAndCashEquivalentsAtCarryingValue $558.25M USD Point-in-time
Cash and cash equivalents inclusive of restricted cash at end of period CashAndCashEquivalentsAtCarryingValue $546.72M USD Point-in-time
Cash and cash equivalents inclusive of restricted cash at end of period CashAndCashEquivalentsAtCarryingValue $573.38M USD Point-in-time

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

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