Brown & Brown, Inc. (BRO) financial statements (2022 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)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments900836554452598531457
Cash and cash equivalents887817542439573516443
Short-term investments13181213251514
Restricted cash and investments583455421339251266230
Deferred tax assets  2525
Other current assets176148152129485150
Other undisclosed current assets1,6721,5201,3671,2481,345889775
Total current assets:3,3302,9582,4952,1672,2421,7611,537
Noncurrent Assets
Operating lease, right-of-use asset197187184
Property, plant and equipment212201149100777682
Intangible assets, net (including goodwill)5,8185,4464,6634,3323,3573,3833,331
Goodwill4,7374,3963,7463,4332,7162,6752,587
Intangible assets, net (excluding goodwill)1,0811,050917899641707745
Other noncurrent assets20715010572574544
Other undisclosed noncurrent assets31252717142318
Total noncurrent assets:6,4656,0085,1284,5213,5053,5273,475
TOTAL ASSETS:9,7958,9667,6236,6895,7485,2875,013
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities663562438546447406378
Accounts payable20619010087647064
Accrued liabilities456372338279229202192
Employee-related liabilities   172147128116
Interest and dividends payable   8766
Deferred revenue 5441
Debt437055501205698
Liability for uncertainty in income taxes0000000
Other undisclosed current liabilities1,9621,6681,5111,1871,420983852
Total current liabilities:2,6672,3542,0451,7831,9871,4451,329
Noncurrent Liabilities
Long-term debt and lease obligation2,1602,1991,6681,4578561,0181,080
Long-term debt, excluding current maturities1,9802,0261,5001,4578561,0181,080
Operating lease, liability180173168
Liabilities, other than long-term debt771659248448321464455
Deferred revenue  17
Deferred tax liabilities, net316256382361
Deferred income tax liabilities387344 
Other liabilities384315231132658194
Total noncurrent liabilities:2,9312,8581,9161,9051,1771,4821,534
Total liabilities:5,5995,2123,9613,6883,1652,9272,863
Stockholders' equity
Stockholders' equity attributable to parent4,1973,7543,3503,0012,5832,3602,150
Common stock30303029151515
Treasury stock, value(674)(591)(536)(478)(386)(258)(239)
Additional paid in capital849795716615498468426
Accumulated other comprehensive loss(9)      
Retained earnings4,0013,5213,1412,8342,4572,1351,947
Total stockholders' equity:4,1973,7543,3503,0012,5832,3602,150
Other undisclosed liabilities and equity  311    
TOTAL LIABILITIES AND EQUITY:9,7958,9667,6236,6895,7485,2875,013

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues3,0512,6132,3922,0141,8811,7671,661
Insurance commissions and fees3,0482,6062,385 
Financial services revenue2,0101,8571,7631,657
Gross profit:3,0512,6132,3922,0141,8811,7671,661
Operating expenses(2,289)(1,989)(1,866)(1,552)(1,432)(1,343)(1,258)
Operating income:763624526462450423403
Interest and debt expense(65)(59)(64)(41)(38)(39)(39)
Other undisclosed income from continuing operations before equity method investments, income taxes 596441383939
Income from continuing operations before equity method investments, income taxes:698624526462450423403
Other undisclosed income from continuing operations before income taxes65      
Income from continuing operations before income taxes:763624526462450423403
Income tax expense(176)(144)(127)(118)(50)(166)(159)
Net income attributable to parent:587480399344400257243
Other undisclosed net loss available to common stockholders, basic(13)(15)(13)(8)(10)(7)(6)
Net income available to common stockholders, diluted:574465386336390251238

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income:587480399344400257243
Other comprehensive income      0
Comprehensive income:587480399344400257243
Other undisclosed comprehensive loss, net of tax, attributable to parent(9)      
Comprehensive income, net of tax, attributable to parent:578480399344400257243

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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