BRP Group, Inc. (BRP) financial statements (2022 and earlier)
Company profile
| Business Address |
4211 W. BOY SCOUT BLVD. TAMPA, FL 33607 |
| State of Incorp. | DE |
| 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 | |||
|---|---|---|---|---|---|
| ASSETS | |||||
| Current Assets | |||||
| Cash, cash equivalents, and short-term investments | 138 | 108 | 68 | ||
| Cash and cash equivalents | 138 | 108 | 68 | ||
| Restricted cash and investments | 89 | 34 | 3 | ||
| Receivables | 2 | 0 | 0 | ||
| Other undisclosed current assets | 349 | 160 | 62 | ||
| Total current assets: | 578 | 302 | 133 | ||
| Noncurrent Assets | |||||
| Operating lease, right-of-use asset | 82 | ||||
| Property, plant and equipment | 17 | 11 | 3 | ||
| Intangible assets, net (including goodwill) | 2,173 | 1,206 | 257 | ||
| Goodwill | 1,229 | 652 | 164 | ||
| Intangible assets, net (excluding goodwill) | 944 | 554 | 92 | ||
| Other noncurrent assets | 26 | 11 | 6 | ||
| Total noncurrent assets: | 2,298 | 1,228 | 266 | ||
| TOTAL ASSETS: | 2,876 | 1,530 | 399 | ||
| LIABILITIES AND EQUITY | |||||
| Liabilities | |||||
| Current Liabilities | |||||
| Accounts payable and accrued liabilities, including: | 92 | 47 | 12 | ||
| Accrued liabilities | 10 | 13 | 3 | ||
| Employee-related liabilities | 22 | 11 | 4 | ||
| Interest and dividends payable | 1 | 0 | |||
| Other undisclosed accounts payable and accrued liabilities | 60 | 23 | 6 | ||
| Debt | 4 | ||||
| Due to related parties | 62 | ||||
| Business combination, contingent consideration, liability | 35 | 6 | 2 | ||
| Other undisclosed current liabilities | 352 | 160 | 58 | ||
| Total current liabilities: | 541 | 217 | 73 | ||
| Noncurrent Liabilities | |||||
| Long-term debt and lease obligation | 921 | 381 | 40 | ||
| Long-term debt, excluding current maturities | 850 | 381 | 40 | ||
| Operating lease, liability | 71 | ||||
| Liabilities, other than long-term debt | 227 | 161 | 48 | ||
| Other liabilities | 4 | 2 | 2 | ||
| Business combination, contingent consideration, liability | 224 | 159 | 46 | ||
| Total noncurrent liabilities: | 1,148 | 543 | 89 | ||
| Total liabilities: | 1,689 | 760 | 161 | ||
| Temporary equity, carrying amount | 0 | 0 | 0 | ||
| Stockholders' equity | |||||
| Stockholders' equity attributable to parent, including: | 608 | 368 | 73 | ||
| Additional paid in capital | 663 | 392 | 82 | ||
| Accumulated deficit | (55) | (24) | (9) | ||
| Receivable from shareholders or affiliates for issuance of capital stock | (0) | (0) | (1) | ||
| Other undisclosed stockholders' equity attributable to parent | 1 | 0 | 0 | ||
| Stockholders' equity attributable to noncontrolling interest | 579 | 402 | 164 | ||
| Total stockholders' equity: | 1,187 | 770 | 237 | ||
| TOTAL LIABILITIES AND EQUITY: | 2,876 | 1,530 | 399 | ||
Income statement (P&L) ($ in millions)
| 12/31/2021 | 12/31/2020 | 12/31/2019 | ||
|---|---|---|---|---|
| Revenues (Insurance Commissions and Fees) | 567 | 241 | 138 | |
| Cost of revenue | (477) | (207) | (114) | |
| Gross profit: | 90 | 34 | 24 | |
| Operating expenses | (122) | (56) | (29) | |
| Operating loss: | (32) | (22) | (5) | |
| Nonoperating expense | (26) | (8) | (17) | |
| Interest and debt expense | (1) | (1) | ||
| Loss from continuing operations before equity method investments, income taxes: | (58) | (31) | (24) | |
| Other undisclosed income from continuing operations before income taxes | 1 | 1 | ||
| Loss from continuing operations before income taxes: | (58) | (30) | (22) | |
| Income tax expense (benefit) | (0) | 0 | (0) | |
| Net loss: | (58) | (30) | (22) | |
| Net income attributable to noncontrolling interest | 27 | 14 | 14 | |
| Net loss available to common stockholders, diluted: | (31) | (16) | (9) | |
Comprehensive Income ($ in millions)
| 12/31/2021 | 12/31/2020 | 12/31/2019 | ||
|---|---|---|---|---|
| Net loss: | (58) | (30) | (22) | |
| Comprehensive loss: | (58) | (30) | (22) | |
| Comprehensive income, net of tax, attributable to noncontrolling interest | 27 | 14 | 14 | |
| Comprehensive loss, net of tax, attributable to parent: | (31) | (16) | (9) | |
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.