Brown & Brown, Inc. (BRO) financial statements (2021 and earlier)

Company profile

Business Address 300 N. BEACH STREET
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)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments836554452598531457481
Cash and cash equivalents817542439573516443470
Short-term investments18121325151411
Restricted cash and investments455421339251266230260
Deferred tax assets  2525 
Other current assets14815212948515046
Other undisclosed current assets1,5201,3671,2481,345889775784
Total current assets:2,9582,4952,1672,2421,7611,5371,570
Noncurrent Assets
Operating lease, right-of-use asset187184
Property, plant and equipment20114910077768285
Intangible assets, net (including goodwill)5,4464,6634,3323,3573,3833,3313,245
Goodwill4,3963,7463,4332,7162,6752,5872,461
Intangible assets, net (excluding goodwill)1,050917899641707745785
Other noncurrent assets1501057257454437
Other undisclosed noncurrent assets25271714231820
Total noncurrent assets:6,0085,1284,5213,5053,5273,4753,386
TOTAL ASSETS:8,9667,6236,6895,7485,2875,0134,956
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities562438546447406378358
Accounts payable1901008764706457
Accrued liabilities372338279229202192181
Employee-related liabilities  172147128116113
Interest and dividends payable  87667
Deferred revenue5441
Debt705550120569871
Liability for uncertainty in income taxes0000000
Other undisclosed current liabilities1,6681,5111,1871,420983852840
Total current liabilities:2,3542,0451,7831,9871,4451,3291,269
Noncurrent Liabilities
Long-term debt and lease obligation2,1991,6681,4578561,0181,0801,153
Long-term debt, excluding current maturities2,0261,5001,4578561,0181,0801,153
Operating lease, liability173168
Liabilities, other than long-term debt659248448321464455421
Deferred revenue 17
Deferred tax liabilities, net316256382361341
Deferred income tax liabilities344 
Other liabilities31523113265819479
Total noncurrent liabilities:2,8581,9161,9051,1771,4821,5341,574
Total liabilities:5,2123,9613,6883,1652,9272,8632,843
Stockholders' equity
Stockholders' equity attributable to parent3,7543,3503,0012,5832,3602,1502,114
Common stock30302915151515
Treasury stock, value(591)(536)(478)(386)(258)(239)(75)
Additional paid in capital795716615498468426406
Retained earnings3,5213,1412,8342,4572,1351,9471,768
Total stockholders' equity:3,7543,3503,0012,5832,3602,1502,114
Other undisclosed liabilities and equity 311     
TOTAL LIABILITIES AND EQUITY:8,9667,6236,6895,7485,2875,0134,956

Income statement (P&L) ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Insurance commissions and fees2,6062,385 
Financial services revenue2,0101,8571,7631,6571,567
Gross profit:2,6132,3922,0141,8811,7671,6611,576
Operating expenses(1,989)(1,866)(1,552)(1,432)(1,343)(1,258)(1,236)
Operating income:624526462450423403340
Nonoperating income
(Investment Income, Nonoperating)
      1
Interest and debt expense(59)(64)(41)(38)(39)(39)(28)
Other undisclosed income from continuing operations before equity method investments, income taxes59644138393928
Income from continuing operations before income taxes:624526462450423403340
Income tax expense(144)(127)(118)(50)(166)(159)(133)
Income from continuing operations:480399344400257243207
Loss from discontinued operations      (1)
Net income:480399344400257243206
Other undisclosed net income attributable to parent      1
Net income attributable to parent:480399344400257243207
Other undisclosed net loss available to common stockholders, basic(15)(13)(8)(10)(7)(6)(5)
Net income available to common stockholders, diluted:465386336390251238202

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income:480399344400257243206
Other comprehensive income     0 
Comprehensive income, net of tax, attributable to parent:480399344400257243206

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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