BROWN & BROWN, INC. BRO Income Statement

Brown & brown, inc. (BRO)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
REVENUES
Commissions and fees
696,503	576,979	617,363	572,932	617,463	507,638	529,813	472,068	500,338	473,371	474,609	464,724	444,566	433,138	461,652	445,662	422,335	404,063	431,863	417,244	403,781	390,148	420,615	394,690	362,007	339,364	358,196	324,150	333,793	300,296	302,310	289,942	296,533	241,350	257,177	245,983	261,452	229,088	246,102	241,053	250,674	243,016	244,595
Investment income
1,161	1,506	1,668	1,525	1,081	695	719	731	601	541	491	351	243	306	230	502	418	296	228	260	220	225	225	194	103	128	85	239	186	236	239	187	135	333	317	393	224	304	345	346	331	175	460
Other income, net
831	504	-348	762	736	415	318	388	522	404	546	1,230	20,271	220	392	354	1,420	238	76	1,943	297	2,647	578	2,880	1,484	3,673	1,029	1,403	1,033	2,298	1,251	787	5,818	2,414	2,907	440	552	546	1,169	2,266	1,268	575	1,314
Total revenues
698,495	578,989	618,683	575,219	619,280	508,748	530,850	473,187	501,461	474,316	475,646	466,305	465,080	433,664	462,274	446,518	424,173	404,597	432,167	419,447	404,298	393,020	421,418	397,764	363,594	343,165	359,310	325,792	335,012	302,830	303,800	290,916	302,486	244,097	260,401	246,816	262,228	229,938	247,616	243,665	252,273	243,766	246,369
EXPENSES
Employee compensation and benefits
349,624	334,598	331,120	309,610	332,837	278,012	268,045	251,958	270,899	258,207	246,062	244,517	245,866	232,403	237,653	231,102	224,059	222,524	211,267	211,499	211,662	227,479	203,126	196,397	184,110	179,460	180,528	163,514	159,498	158,467	149,691	150,752	149,596	129,389	126,877	125,852	126,557	122,264	122,001	121,372	122,183	119,607	122,625
Share-based Compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,889	6,102	-	214	5,640	5,994	7,515	7,699	7,431	3,623	3,850	4,472	3,908	3,738	3,747	2,856	2,856	2,709	2,773	1,615	1,495	1,780	1,955	1,732	1,695
Other operating expenses
107,132	93,847	96,409	98,050	88,783	88,414	83,697	83,694	76,313	73,181	72,058	71,312	66,919	65,543	67,433	66,291	63,605	59,464	66,121	64,377	61,093	57,405	64,916	60,546	52,461	51,839	50,102	47,397	46,339	44,995	43,774	42,220	43,400	34,590	38,434	34,979	36,076	34,595	31,301	33,622	36,333	35,523	35,620
(Gain)/loss on disposal
260	5,695	3,815	1,016	-505	631	-1,106	230	2,420	164	1,902	-9	100	-1,840	277	810	2,044	-640	654	348	257	-47,425	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization
26,391	26,880	26,272	25,954	26,192	23,583	21,637	20,785	20,539	21,044	21,435	21,347	21,620	21,638	21,805	21,610	21,610	22,015	22,158	21,623	21,625	22,459	21,983	20,623	17,876	17,792	17,858	16,121	16,161	16,123	15,956	15,881	15,613	13,965	13,725	13,556	13,509	13,370	12,869	12,650	12,553	12,468	12,519
Depreciation
6,021	5,901	5,815	5,666	6,035	6,424	5,259	5,599	5,552	5,456	5,489	5,655	6,098	5,136	5,195	5,354	5,318	5,255	5,215	5,237	5,183	5,557	5,456	5,242	4,640	4,604	4,466	4,263	4,167	3,990	3,958	3,784	3,641	3,116	3,062	3,079	3,135	3,141	3,116	3,129	3,253	3,323	3,299
Interest
15,291	15,855	16,314	16,293	15,198	11,894	8,963	10,052	9,671	9,367	9,393	9,874	9,682	9,864	9,883	9,837	9,897	9,844	9,882	9,671	9,851	10,034	7,298	7,004	4,072	4,324	4,135	3,997	3,984	4,004	4,006	4,000	4,087	3,352	3,565	3,608	3,607	3,624	3,607	3,632	3,608	3,622	3,632
Change in estimated acquisition earn-out payables
-10,957	5,554	-5,270	-2,860	1,210	441	-357	419	2,466	891	-1,308	5,589	4,028	2,339	3,610	4,057	-821	809	459	372	1,363	3,364	314	177	6,083	1,020	-665	656	1,522	1,552	858	-604	-388	-2,862	-810	1,565	-99	2,710	193	-533	-696	-	-
Total expenses
493,242	476,940	466,845	451,697	470,760	408,137	388,350	372,277	383,020	367,982	351,227	358,303	354,113	338,763	345,302	337,441	321,624	309,560	319,337	318,533	310,520	354,574	308,733	295,983	276,757	266,723	263,855	239,571	235,521	233,603	222,151	219,771	219,696	184,406	187,709	185,348	185,558	177,971	174,582	175,652	179,189	176,275	179,390
Income before income taxes
205,253	102,049	151,838	123,522	148,520	100,611	142,500	100,910	118,441	106,334	124,419	108,002	110,967	94,901	116,972	109,077	102,549	95,037	112,830	100,914	93,778	38,446	112,685	101,781	86,837	76,442	95,455	86,221	99,491	69,227	81,649	71,145	82,790	59,691	72,692	61,468	76,670	51,967	73,034	68,013	73,084	67,491	66,979
Income taxes
52,853	25,530	36,332	30,929	34,624	27,159	36,447	26,988	27,613	-81,171	48,506	41,900	40,857	37,275	45,427	42,827	40,479	37,102	45,403	39,909	36,827	14,051	44,354	40,026	34,422	29,217	37,706	34,214	39,360	26,590	32,145	28,674	33,357	23,197	28,519	24,433	30,377	19,821	28,741	26,828	28,956	26,530	26,311
Net income
152,400	76,519	115,506	92,593	113,896	73,452	106,053	73,922	90,828	187,505	75,913	66,102	70,110	57,626	71,545	66,250	62,070	57,935	67,427	61,005	56,951	24,395	68,331	61,755	52,415	47,225	57,749	52,007	60,131	42,637	49,504	42,471	49,433	36,494	44,173	37,035	46,293	32,146	44,293	41,185	44,128	40,961	40,668
Net income per share:
Basic (in dollars per share)
0.54	0.27	0.41	0.33	0.41	0.26	0.38	0.27	0.33	0.67	0.27	0.24	0.25	-0.51	0.51	0.47	0.45	0.41	0.48	0.43	0.40	0.17	0.47	0.43	0.36	0.32	0.40	0.36	0.42	0.30	0.34	0.30	0.34	0.26	0.31	0.26	0.32	0.23	0.31	0.29	0.31	0.29	-
Diluted (in dollars per share)
0.54	0.26	0.41	0.33	0.40	0.26	0.38	0.26	0.32	0.65	0.27	0.23	0.25	-0.50	0.50	0.47	0.44	0.41	0.47	0.43	0.39	0.16	0.47	0.42	0.36	0.32	0.39	0.36	0.41	0.29	0.34	0.29	0.34	0.25	0.30	0.26	0.32	0.21	0.31	0.29	0.31	0.29	-
Weighted average number of shares outstanding:
Basic
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	139,904	139,465	139,086	139,001	138,908	138,690	138,379	138,351	138,295	138,093	137,685	137,623	137,279	136,939
Diluted
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	142,615	142,097	141,828	141,500	140,023	140,443	139,942	140,648	140,869	139,507	139,105	137,791	137,671	137,304
Dividends declared per share (in dollars per share)
0.08	0.09	0.08	0.08	0.08	0.08	0.07	0.07	0.07	0.07	0.06	0.06	0.07	-0.11	0.12	0.12	0.12	0.12	0.11	0.11	0.11	0.11	0.10	0.10	0.10	0.10	0.09	0.09	0.09	0.09	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.07	0.07	0.07	0.07	0.07