BRP Group Inc. (Insurance Company) (BRP) Financial Statements (2024 and earlier)

Company Profile

Business Address 4211 W. BOY SCOUT BLVD.
TAMPA, FL 33607
State of Incorp. DE
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 thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments118,090138,292108,46267,689
Cash and cash equivalents118,090138,292108,46267,689
Restricted cash and investments112,38189,44533,5603,382
Receivables 1131,6681943
Disposal group, including discontinued operation    
Other undisclosed current assets541,815348,988159,94861,812
Total current assets:772,399578,393301,989132,926
Noncurrent Assets
Operating lease, right-of-use asset96,46581,646  
Property, plant and equipment25,40517,47411,0193,322
Intangible assets, net (including goodwill)2,521,9782,173,2081,205,822256,920
Goodwill1,422,0601,228,741651,502164,470
Intangible assets, net (excluding goodwill)1,099,918944,467554,32092,450
Other noncurrent assets45,93525,58611,0845,600
Total noncurrent assets:2,689,7832,297,9141,227,925265,842
TOTAL ASSETS:3,462,1822,876,3071,529,914398,768
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:125,74392,22347,49012,334
Interest and dividends payable 1,04971
Employee-related liabilities22,46010,8264,162
Accrued liabilities13,1019,73113,0322,532
Other undisclosed accounts payable and accrued liabilities112,64260,03222,5835,569
Debt   4,000 
Disposal group, including discontinued operation    
Business combination, contingent consideration, liability46,71735,0886,0942,480
Due to related parties1,52561,500  
Other undisclosed current liabilities525,221351,878159,83658,011
Total current liabilities:699,206540,689217,42072,825
Noncurrent Liabilities
Long-term debt and lease obligation1,314,862920,971381,38240,363
Long-term debt, excluding current maturities1,314,862849,614381,38240,363
Liabilities, other than long-term debt308,075227,091161,14448,306
Other liabilities1643,5902,4192,017
Operating lease, liability87,69271,357  
Business combination, contingent consideration, liability220,219223,501158,72546,289
Total noncurrent liabilities:1,622,9371,148,062542,52688,669
Total liabilities:2,322,1431,688,751759,946161,494
Temporary equity, carrying amount4872699823
Equity
Equity, attributable to parent, including:608,104608,383367,78373,285
Additional paid in capital704,291663,002392,13982,425
Accumulated deficit(96,764)(54,992)(24,346)(8,650)
Receivable from shareholders or affiliates for issuance of capital stock (42)(219)(465)(688)
Other undisclosed equity, attributable to parent619592455198
Equity, attributable to noncontrolling interest531,448578,904402,087163,966
Total equity:1,139,5521,187,287769,870237,251
TOTAL LIABILITIES AND EQUITY:3,462,1822,876,3071,529,914398,768

Income Statement (P&L) ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
Revenues980,720567,290240,919137,841
Insurance commissions and fees 980,720567,290240,919137,841
Cost of revenue(788,875)(477,243)(207,130)(114,133)
Gross profit:191,84590,04733,78923,708
Operating expenses(222,943)(121,673)(55,727)(28,776)
Operating loss:(31,098)(31,626)(21,938)(5,068)
Nonoperating expense(44,935)(26,475)(7,952)(17,369)
Other nonoperating income (expense)26,137424(95)3
Interest and debt expense   (1,002)(1,300)
Loss from continuing operations before equity method investments, income taxes:(76,033)(58,101)(30,892)(23,737)
Other undisclosed income from continuing operations before income taxes   1,0021,300
Loss from continuing operations before income taxes:(76,033)(58,101)(29,890)(22,437)
Income tax expense (benefit)(715)(19)5(17)
Loss from continuing operations:(76,748)(58,120)(29,885)(22,454)
Loss before gain (loss) on sale of properties:(58,120)(29,885)(22,454)
Net loss:(76,748)(58,120)(29,885)(22,454)
Net income attributable to noncontrolling interest34,97627,47414,18913,804
Net loss available to common stockholders, diluted:(41,772)(30,646)(15,696)(8,650)

Comprehensive Income ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
Net loss:(76,748)(58,120)(29,885)(22,454)
Comprehensive loss:(76,748)(58,120)(29,885)(22,454)
Comprehensive income, net of tax, attributable to noncontrolling interest34,97627,47414,18913,804
Comprehensive loss, net of tax, attributable to parent:(41,772)(30,646)(15,696)(8,650)

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.

Login to ReadyRatios

 

Have you forgotten your password?

Are you a new user?

Login As
You can log in if you are registered at one of these services: