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

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 investments554452598531457481214
Cash and cash equivalents542439573516443470203
Short-term investments12132515141111
Restricted cash and investments421339251266230260 
Deferred tax assets✕  2525  
Other current assets1521294851504639
Other undisclosed current assets1,3671,2481,345889775784675
Total current assets:2,4952,1672,2421,7611,5371,570928
Noncurrent Assets
Operating lease, right-of-use asset184✕✕✕✕✕✕
Property, plant and equipment1491007776828575
Intangible assets, net (including goodwill)4,6634,3323,3573,3833,3313,2452,625
Goodwill3,7463,4332,7162,6752,5872,4612,006
Intangible assets, net (excluding goodwill)917899641707745785619
Other noncurrent assets105725745443722
Other undisclosed noncurrent assets271714231820 
Total noncurrent assets:5,1284,5213,5053,5273,4753,3862,721
TOTAL ASSETS:7,6236,6895,7485,2875,0134,9563,650
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities438546447406378358192
Accounts payable100876470645734
Accrued liabilities338279229202192181157
Employee-related liabilities 172147128116113 
Interest and dividends payable 87667 
Deferred revenue41✕✕✕✕✕✕
Debt5550120569871100
Liability for uncertainty in income taxes0000000
Other undisclosed current liabilities1,5111,1871,420983852840615
Total current liabilities:2,0451,7831,9871,4451,3291,269907
Noncurrent Liabilities
Long-term debt and lease obligation1,6681,4578561,0181,0801,153380
Long-term debt, excluding current maturities1,5001,4578561,0181,0801,153380
Operating lease, liability168✕✕✕✕✕✕
Liabilities, other than long-term debt248448321464455421355
Deferred revenue17✕✕✕✕✕✕
Deferred tax liabilities, net✕316256382361341292
Other liabilities2311326581947964
Total noncurrent liabilities:1,9161,9051,1771,4821,5341,574735
Total liabilities:3,9613,6883,1652,9272,8632,8431,642
Stockholders' equity
Stockholders' equity attributable to parent3,3503,0012,5832,3602,1502,1142,007
Common stock30291515151515
Treasury stock, value(536)(478)(386)(258)(239)(75) 
Additional paid in capital716615498468426406372
Retained earnings3,1412,8342,4572,1351,9471,7681,621
Total stockholders' equity:3,3503,0012,5832,3602,1502,1142,007
Other undisclosed liabilities and equity311      
TOTAL LIABILITIES AND EQUITY:7,6236,6895,7485,2875,0134,9563,650

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

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Insurance commissions and fees2,385 ✕✕✕✕✕
Financial services revenue✕2,0101,8571,7631,6571,567 
Gross profit:2,3922,0141,8811,7671,6611,5761,363
Operating expenses(1,866)(1,552)(1,432)(1,343)(1,258)(1,236)(1,006)
Operating income:526462450423403340358
Nonoperating income
(Investment Income, Nonoperating)		     11
Interest and debt expense(64)(41)(38)(39)(39)(28)(16)
Other undisclosed income from continuing operations before equity method investments, income taxes64413839392816
Income from continuing operations before income taxes:526462450423403340358
Income tax expense(127)(118)(50)(166)(159)(133)(140)
Income from continuing operations:399344400257243207217
Loss from discontinued operations     (1) 
Net income:399344400257243206217
Other undisclosed net income attributable to parent     1 
Net income attributable to parent:399344400257243207217
Other undisclosed net loss available to common stockholders, basic(13)(8)(10)(7)(6)(5)(5)
Net income available to common stockholders, diluted:386336390251238202212

Comprehensive Income ($ in millions)
Annual | Quarterly

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income:399344400257243206217
Other comprehensive income    0  
Comprehensive income, net of tax, attributable to parent:399344400257243206217

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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