← BROWN & BROWN, INC.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
| Net Income (Loss) Attributable to Parent | $257.5m |
$399.6m
+55.20%
|
$344.3m
-13.86%
|
$398.5m
+15.76%
|
$480.5m
+20.57%
|
$587.1m
+22.19%
|
$671.8m
+14.43%
|
$870.5m
+29.58%
|
$993.0m
+14.07%
|
$1.1b
+6.14%
|
— | |
| Net Income (Loss) Available to Common Stockholders, Basic | $250.8m |
$389.9m
+55.46%
|
$336.0m
-13.83%
|
$385.6m
+14.79%
|
$465.3m
+20.65%
|
$574.2m
+23.40%
|
$659.1m
+14.79%
|
$857.2m
+30.06%
|
$981.0m
+14.44%
|
$1.0b
+6.32%
|
— | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | — | — | — | — | — | $587.1m | $671.8m | $870.5m | $1.0b | $1.1b | — | |
| Net Income (Loss) Attributable to Noncontrolling Interest | — | — | — | — | — | — | — | — | $9.0m | $13.0m | — | |
| Amortization | $86.7m | $85.4m | $86.5m | $105.3m | $108.5m | $119.6m | $146.6m | $166.0m | $178.0m | $312.0m | $435.0m | |
| Depreciation | $21.0m | $22.7m | $22.8m | $23.4m | $26.3m | $33.3m | $39.2m | $40.0m | $44.0m | $55.0m | $67.0m | |
| Deferred Income Tax Expense (Benefit) | $18.2m | ($102.2m) | $15.0m | $12.4m | $15.9m | $33.6m | $42.8m | $12.3m | $13.0m | ($7.0m) | $123.0m | |
| Share-based Payment Arrangement, Noncash Expense | $16.1m | $30.6m | $33.5m | $47.0m | $59.7m | $61.0m | $66.1m | $89.4m | $101.0m | $93.0m | $90.0m | |
| Goodwill, Impairment Loss | — | — | — | $0 | $0 | $0 | $0 | $0 | $0 | $0 | — | |
| Changes in operating assets and liabilities: | ||||||||||||
| Increase (Decrease) in Accounts Payable | $30.2m | $26.8m | $21.9m | $17.8m | $107.8m | $51.4m | $124.3m | $260.0m | ($47.0m) | $11.0m | ($5.0m) | |
| Net Cash Provided by (Used in) Operating Activities | $375.2m |
$442.0m
+17.81%
|
$567.5m
+28.41%
|
$678.2m
+19.50%
|
$721.6m
+6.41%
|
$942.5m
+30.60%
|
$881.4m
-6.48%
|
$1.0b
+14.53%
|
$1.2b
+16.30%
|
$1.4b
+23.51%
|
$1.5b
+4.83%
|
|
| Cash flows from investing activities: | ||||||||||||
| Payments to Acquire Property, Plant, and Equipment | $17.8m | $24.2m | $41.5m | $73.1m | $70.7m | $45.0m | $52.6m | $68.9m | $82.0m | $68.0m | ($74.0m) | |
| Payments to Acquire Investments | $25.9m | $10.7m | $9.3m | $17.5m | $14.2m | $12.4m | $100k | $7.2m | $7.0m | — | ($7.0m) | |
| Restricted Cash and Investments, Current | $265.6m | $250.7m | $338.6m | $420.8m | $454.5m | $583.2m | — | — | — | — | — | |
| Payments to Acquire Businesses, Net of Cash Acquired | $122.6m | $41.5m | $923.9m | $353.0m | $694.8m | $366.8m | $1.9b | $630.7m | $890.0m | $7.9b | ($7.7b) | |
| Payments for (Proceeds from) Other Investing Activities | — | — | — | — | — | — | — | — | — | $1.0m | — | |
| Net Cash Provided by (Used in) Investing Activities | ($142.4m) | ($62.6m) | ($951.8m) | ($413.6m) | ($759.1m) | ($396.7m) | ($1.9b) | ($587.0m) | ($898.0m) | ($7.9b) | ($7.8b) | |
| Cash flows from financing activities: | ||||||||||||
| Repayments of Long-term Debt | $73.1m | $96.8m | $120.0m | $50.0m | $55.0m | $73.1m | $61.3m | $250.6m | $719.0m | $225.0m | ($318.0m) | |
| Proceeds from Issuance of Long-term Debt | $0 | $0 | $300.0m | $350.0m | $700.0m | — | $2.0b | $0 | $599.0m | $4.2b | $525.0m | |
| Payments for Repurchase of Common Stock | $18.9m | $128.6m | $91.2m | $58.7m | $55.1m | $82.6m | $74.1m | $100k | — | $100.0m | — | |
| Proceeds from Issuance of Common Stock | — | — | — | — | — | — | — | $0 | $0 | $4.3b | $0 | |
| Dividends paid | $70.3m | $77.7m | $84.7m | $91.3m | $100.6m | $107.2m | $119.5m | $135.0m | $154.0m | $193.0m | ($219.0m) | |
| Proceeds from (Payments for) Other Financing Activities | — | — | — | — | — | — | — | — | $2.0m | ($6.0m) | — | |
| Net Cash Provided by (Used in) Financing Activities | ($160.5m) |
($336.6m)
-109.68%
|
$337.8m
+200.35%
|
($79.2m)
-123.45%
|
$346.4m
+537.24%
|
($343.9m)
-199.28%
|
$1.7b
+601.75%
|
($186.7m)
-110.82%
|
($64.0m)
+65.72%
|
$7.7b
+12151.56%
|
($794.0m)
-110.29%
|
|
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | — | — | $185.4m | $308.9m | $198.3m | $563.0m | $269.7m | $199.0m | $1.3b | $3.8b | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | $963.0m | $1.3b | $1.5b | $2.0b | $2.3b | $2.5b | $3.8b | $3.8b | |
| Additional Supplementary Disclosures | ||||||||||||
| Additional Supplementary Disclosures | ||||||||||||
| Supplemental disclosure of cash flow information: | ||||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | — | — | — | $58.3m | $52.4m | $61.5m | $120.1m | $185.8m | $195.0m | $284.0m | — | |
| Income Taxes Paid, Net | — | — | — | — | $131.6m | $146.9m | $122.3m | $218.1m | $302.0m | $371.0m | — | |
| Additional Financial Items | ||||||||||||
| Asset Retirement Obligation, Accretion Expense | $2.8m | $2.3m | $2.4m | $5.9m | $7.4m | $6.2m | $7.0m | $7.7m | $8.0m | $9.0m | — | |
| Gain (Loss) on Disposition of Assets | $1.3m | $2.2m | $2.2m | $10.0m | $2.4m | $9.6m | $4.5m | $143.3m | $31.0m | ($2.0m) | — | |
| Gain (Loss) on Disposition of Business | — | — | — | — | — | — | — | $143.3m | — | — | — | |
| Goodwill | $2.7b | $2.7b | $3.4b | $3.7b | $4.4b | $4.7b | $6.7b | $7.3b | $8.0b | $15.1b | — | |
| Income Tax Expense (Benefit) | $166.0m | $50.1m | $118.2m | $127.4m | $143.6m | $175.7m | $204.3m | $275.6m | $301.0m | $304.0m | — | |
| Interest Expense Nonoperating | — | — | — | — | — | — | — | — | $193.0m | $297.0m | — | |
| Operating Expenses | $1.3b | $1.4b | $1.6b | $1.9b | $2.0b | $2.3b | $2.7b | $3.1b | — | — | — | |
| Proceeds from Stock Options Exercised | $16.0m | $17.4m | $19.4m | $25.0m | $30.1m | $34.0m | $37.6m | $39.8m | $44.0m | $48.0m | — |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.