Brown & Brown, Inc. (BRO) financial statements (2020 and earlier)

Company profile

Business Address 220 S. RIDGEWOOD AVE.
DAYTONA BEACH, FL 32114
State of Incorp. FL
Fiscal Year End December 31
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

9/30/2019
TTM
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments507452598531457481214
Cash and cash equivalents498439573516443470203
Short-term investments10132515141111
Restricted cash and investments377339251266230260 
Deferred tax assets✕  2525  
Other current assets1331294851504639
Other undisclosed current assets1,5891,2481,345889775784675
Total current assets:2,6072,1672,2421,7611,5371,570928
Noncurrent Assets
Operating lease, right-of-use asset193✕✕✕✕✕✕
Property, plant and equipment1291007776828575
Intangible assets, net (including goodwill)4,6264,3323,3573,3833,3313,2452,625
Goodwill3,7023,4332,7162,6752,5872,4612,006
Intangible assets, net (excluding goodwill)923899641707745785619
Other noncurrent assets98725745443722
Other undisclosed noncurrent assets281714231820 
Total noncurrent assets:5,0744,5213,5053,5273,4753,3862,721
TOTAL ASSETS:7,6816,6895,7485,2875,0134,9563,650
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities376546447406378358192
Accounts payable104876470645734
Accrued liabilities272279229202192181157
Employee-related liabilities 172147128116113 
Interest and dividends payable 87667 
Deferred revenue38✕✕✕✕✕✕
Debt9750120569871100
Liability for uncertainty in income taxes 000000
Other undisclosed current liabilities1,6391,1871,420983852840615
Total current liabilities:2,1491,7831,9871,4451,3291,269907
Noncurrent Liabilities
Long-term debt and lease obligation1,6911,4578561,0181,0801,153380
Long-term debt, excluding current maturities1,5141,4578561,0181,0801,153380
Operating lease, liability177✕✕✕✕✕✕
Liabilities, other than long-term debt222448321464455421355
Deferred revenue18✕✕✕✕✕✕
Deferred tax liabilities, net✕316256382361341292
Other liabilities2051326581947964
Total noncurrent liabilities:1,9131,9051,1771,4821,5341,574735
Total liabilities:4,0623,6883,1652,9272,8632,8431,642
Stockholders' equity
Stockholders' equity attributable to parent3,3153,0012,5832,3602,1502,1142,007
Common stock30291515151515
Treasury stock, value(507)(478)(386)(258)(239)(75) 
Additional paid in capital704615498468426406372
Retained earnings3,0882,8342,4572,1351,9471,7681,621
Total stockholders' equity:3,3153,0012,5832,3602,1502,1142,007
Other undisclosed liabilities and equity304      
TOTAL LIABILITIES AND EQUITY:7,6816,6895,7485,2875,0134,9563,650

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

9/30/2019
TTM
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Insurance commissions and fees1,190 ✕✕✕✕✕
Financial services revenue1,1252,0101,8571,7631,6571,567 
Gross profit:2,3222,0141,8811,7671,6611,5761,363
Operating expenses(1,797)(1,552)(1,432)(1,343)(1,258)(1,236)(1,006)
Operating income:524462450423403340358
Nonoperating income
(Investment Income, Nonoperating)		     11
Interest and debt expense(60)(41)(38)(39)(39)(28)(16)
Other undisclosed income from continuing operations before equity method investments, income taxes60413839392816
Income from continuing operations before income taxes:524462450423403340358
Income tax expense(129)(118)(50)(166)(159)(133)(140)
Income from continuing operations:395344400257243207217
Loss from discontinued operations     (1) 
Net income:395344400257243206217
Other undisclosed net income attributable to parent     1 
Net income attributable to parent:395344400257243207217
Other undisclosed net loss available to common stockholders, basic(12)(8)(10)(7)(6)(5)(5)
Net income available to common stockholders, diluted:383336390251238202212

Comprehensive Income ($ in millions)
Annual | Quarterly

9/30/2019
TTM
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income:395344400257243206217
Other comprehensive income    0  
Comprehensive income, net of tax, attributable to parent:395344400257243206217

Statements sources

The financial statements are based on the company's filings with the 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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