Brown & Brown Inc. (BRO) Financial Statements (2024 and earlier)

Company Profile

Business Address 300 N. BEACH STREET
DAYTONA BEACH, FL 32114
State of Incorp. FL
Fiscal Year End December 31
Industry (SIC) 6411 - Insurance Agents, Brokers, and Service (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)
Annual | Quarterly

6/30/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments711662900836554452
Cash and cash equivalents700650887817542439
Short-term investments111213181213
Restricted cash and investments   583455421339
Other current assets315202176148152129
Other undisclosed current assets4,1044,1321,6721,5201,3671,248
Total current assets:5,1304,9963,3302,9582,4952,167
Noncurrent Assets
Operating lease, right-of-use asset199215197187184✕
Property, plant and equipment270240212201149100
Intangible assets, net (including goodwill)8,9628,2695,8185,4464,6634,332
Goodwill7,3416,6744,7374,3963,7463,433
Intangible assets, net (excluding goodwill)1,6211,5951,0811,050917899
Other noncurrent assets30223120715010572
Other undisclosed noncurrent assets212231252717
Total noncurrent assets:9,7548,9786,4656,0085,1284,521
TOTAL ASSETS:14,88313,9749,7958,9667,6236,689
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities1,067828663562438546
Interest and dividends payable✕✕✕   8
Employee-related liabilities✕✕✕   172
Accounts payable45928720619010087
Accrued liabilities608542456372338279
Deferred revenue7880 5441✕
Debt56925143705550
Liability for uncertainty in income taxes 110000
Other undisclosed current liabilities3,2423,4371,9621,6681,5111,187
Total current liabilities:4,9574,5972,6672,3542,0451,783
Noncurrent Liabilities
Long-term debt and lease obligation3,2273,6922,1602,1991,6681,457
Long-term debt, excluding current maturities3,2273,6921,9802,0261,5001,457
Liabilities, other than long-term debt1,1211,079771659248448
Deferred revenue    17✕
Deferred tax liabilities, net✕✕✕✕✕✕316
Deferred income tax liabilities616584387344 ✕
Other liabilities326299384315231132
Operating lease, liability179196180173168✕
Other undisclosed noncurrent liabilities      
Total noncurrent liabilities:4,3484,7702,9312,8581,9161,905
Total liabilities:9,3059,3675,5995,2123,9613,688
Equity
Equity, attributable to parent5,5794,6074,1973,7543,3503,001
Common stock303030303029
Treasury stock, value(748)(748)(674)(591)(536)(478)
Additional paid in capital1,027920849795716615
Accumulated other comprehensive loss(19)(148)(9)   
Retained earnings5,2894,5534,0013,5213,1412,834
Equity, attributable to noncontrolling interest      
Total equity:5,5794,6074,1973,7543,3503,001
Other undisclosed liabilities and equity     311 
TOTAL LIABILITIES AND EQUITY:14,88313,9749,7958,9667,6236,689

Income Statement (P&L) ($ in millions)
Annual | Quarterly

6/30/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues4,2573,5733,0512,6132,3922,014
Insurance commissions and fees4,1993,5633,0482,6062,385 
Financial services revenue✕✕✕✕✕✕2,010
Gross profit:4,2573,5733,0512,6132,3922,014
Operating expenses(3,111)(2,697)(2,289)(1,989)(1,866)(1,552)
Operating income:1,146876763624526462
Nonoperating income
(Investment Income, Nonoperating)		      
Interest and debt expense(190)(141)(65)(59)(64)(41)
Other undisclosed income from continuing operations before equity method investments, income taxes    596441
Income from continuing operations before equity method investments, income taxes:956735698624526462
Other undisclosed income from continuing operations before income taxes19014165   
Income from continuing operations before income taxes:1,146876763624526462
Income tax expense(276)(204)(176)(144)(127)(118)
Income from continuing operations:871672587480399344
Income before gain (loss) on sale of properties:✕✕✕587480399344
Net income:871672587480399344
Net loss attributable to noncontrolling interest      
Net income attributable to parent:871672587480399344
Other undisclosed net loss available to common stockholders, basic(13)(13)(13)(15)(13)(8)
Net income available to common stockholders, diluted:857659574465386336

Comprehensive Income ($ in millions)
Annual | Quarterly

6/30/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:871672587480399344
Comprehensive income:871672587480399344
Comprehensive loss, net of tax, attributable to noncontrolling interest      
Other undisclosed comprehensive income (loss), net of tax, attributable to parent129(139)(9)   
Comprehensive income, net of tax, attributable to parent:1,000533578480399344

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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