Brown & Brown, Inc. (BRO) financial statements (2021 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)
12/31/2019 | 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 investments | 554 | 452 | 598 | 531 | 457 | 481 | 214 | ||
Cash and cash equivalents | 542 | 439 | 573 | 516 | 443 | 470 | 203 | ||
Short-term investments | 12 | 13 | 25 | 15 | 14 | 11 | 11 | ||
Restricted cash and investments | 421 | 339 | 251 | 266 | 230 | 260 | |||
Deferred tax assets | ✕ | 25 | 25 | ||||||
Other current assets | 152 | 129 | 48 | 51 | 50 | 46 | 39 | ||
Other undisclosed current assets | 1,367 | 1,248 | 1,345 | 889 | 775 | 784 | 675 | ||
Total current assets: | 2,495 | 2,167 | 2,242 | 1,761 | 1,537 | 1,570 | 928 | ||
Noncurrent Assets | |||||||||
Operating lease, right-of-use asset | 184 | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ||
Property, plant and equipment | 149 | 100 | 77 | 76 | 82 | 85 | 75 | ||
Intangible assets, net (including goodwill) | 4,663 | 4,332 | 3,357 | 3,383 | 3,331 | 3,245 | 2,625 | ||
Goodwill | 3,746 | 3,433 | 2,716 | 2,675 | 2,587 | 2,461 | 2,006 | ||
Intangible assets, net (excluding goodwill) | 917 | 899 | 641 | 707 | 745 | 785 | 619 | ||
Other noncurrent assets | 105 | 72 | 57 | 45 | 44 | 37 | 22 | ||
Other undisclosed noncurrent assets | 27 | 17 | 14 | 23 | 18 | 20 | |||
Total noncurrent assets: | 5,128 | 4,521 | 3,505 | 3,527 | 3,475 | 3,386 | 2,721 | ||
TOTAL ASSETS: | 7,623 | 6,689 | 5,748 | 5,287 | 5,013 | 4,956 | 3,650 | ||
LIABILITIES AND EQUITY | |||||||||
Liabilities | |||||||||
Current Liabilities | |||||||||
Accounts payable and accrued liabilities | 438 | 546 | 447 | 406 | 378 | 358 | 192 | ||
Accounts payable | 100 | 87 | 64 | 70 | 64 | 57 | 34 | ||
Accrued liabilities | 338 | 279 | 229 | 202 | 192 | 181 | 157 | ||
Employee-related liabilities | 172 | 147 | 128 | 116 | 113 | ||||
Interest and dividends payable | 8 | 7 | 6 | 6 | 7 | ||||
Deferred revenue | 41 | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ||
Debt | 55 | 50 | 120 | 56 | 98 | 71 | 100 | ||
Liability for uncertainty in income taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
Other undisclosed current liabilities | 1,511 | 1,187 | 1,420 | 983 | 852 | 840 | 615 | ||
Total current liabilities: | 2,045 | 1,783 | 1,987 | 1,445 | 1,329 | 1,269 | 907 | ||
Noncurrent Liabilities | |||||||||
Long-term debt and lease obligation | 1,668 | 1,457 | 856 | 1,018 | 1,080 | 1,153 | 380 | ||
Long-term debt, excluding current maturities | 1,500 | 1,457 | 856 | 1,018 | 1,080 | 1,153 | 380 | ||
Operating lease, liability | 168 | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ||
Liabilities, other than long-term debt | 248 | 448 | 321 | 464 | 455 | 421 | 355 | ||
Deferred revenue | 17 | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ||
Deferred tax liabilities, net | ✕ | 316 | 256 | 382 | 361 | 341 | 292 | ||
Other liabilities | 231 | 132 | 65 | 81 | 94 | 79 | 64 | ||
Total noncurrent liabilities: | 1,916 | 1,905 | 1,177 | 1,482 | 1,534 | 1,574 | 735 | ||
Total liabilities: | 3,961 | 3,688 | 3,165 | 2,927 | 2,863 | 2,843 | 1,642 | ||
Stockholders' equity | |||||||||
Stockholders' equity attributable to parent | 3,350 | 3,001 | 2,583 | 2,360 | 2,150 | 2,114 | 2,007 | ||
Common stock | 30 | 29 | 15 | 15 | 15 | 15 | 15 | ||
Treasury stock, value | (536) | (478) | (386) | (258) | (239) | (75) | |||
Additional paid in capital | 716 | 615 | 498 | 468 | 426 | 406 | 372 | ||
Retained earnings | 3,141 | 2,834 | 2,457 | 2,135 | 1,947 | 1,768 | 1,621 | ||
Total stockholders' equity: | 3,350 | 3,001 | 2,583 | 2,360 | 2,150 | 2,114 | 2,007 | ||
Other undisclosed liabilities and equity | 311 | ||||||||
TOTAL LIABILITIES AND EQUITY: | 7,623 | 6,689 | 5,748 | 5,287 | 5,013 | 4,956 | 3,650 |
Income statement (P&L) ($ in millions)
12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | 12/31/2013 | ||
---|---|---|---|---|---|---|---|---|
Insurance commissions and fees | 2,385 | ✕ | ✕ | ✕ | ✕ | ✕ | ||
Financial services revenue | ✕ | 2,010 | 1,857 | 1,763 | 1,657 | 1,567 | ||
Gross profit: | 2,392 | 2,014 | 1,881 | 1,767 | 1,661 | 1,576 | 1,363 | |
Operating expenses | (1,866) | (1,552) | (1,432) | (1,343) | (1,258) | (1,236) | (1,006) | |
Operating income: | 526 | 462 | 450 | 423 | 403 | 340 | 358 | |
Nonoperating income (Investment Income, Nonoperating) | 1 | 1 | ||||||
Interest and debt expense | (64) | (41) | (38) | (39) | (39) | (28) | (16) | |
Other undisclosed income from continuing operations before equity method investments, income taxes | 64 | 41 | 38 | 39 | 39 | 28 | 16 | |
Income from continuing operations before income taxes: | 526 | 462 | 450 | 423 | 403 | 340 | 358 | |
Income tax expense | (127) | (118) | (50) | (166) | (159) | (133) | (140) | |
Income from continuing operations: | 399 | 344 | 400 | 257 | 243 | 207 | 217 | |
Loss from discontinued operations | (1) | |||||||
Net income: | 399 | 344 | 400 | 257 | 243 | 206 | 217 | |
Other undisclosed net income attributable to parent | 1 | |||||||
Net income attributable to parent: | 399 | 344 | 400 | 257 | 243 | 207 | 217 | |
Other undisclosed net loss available to common stockholders, basic | (13) | (8) | (10) | (7) | (6) | (5) | (5) | |
Net income available to common stockholders, diluted: | 386 | 336 | 390 | 251 | 238 | 202 | 212 |
Comprehensive Income ($ in millions)
12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | 12/31/2013 | ||
---|---|---|---|---|---|---|---|---|
Net income: | 399 | 344 | 400 | 257 | 243 | 206 | 217 | |
Other comprehensive income | 0 | |||||||
Comprehensive income, net of tax, attributable to parent: | 399 | 344 | 400 | 257 | 243 | 206 | 217 |
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.