XML 50 R36.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Business Combinations (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Business Combinations [Abstract] |
Acquisition Method for Recording Business Combinations | During 2023, we acquired substantially all of the ownership interests or net assets, as applicable, of the following firms in exchange for our common stock and/or cash. These acquisitions have been accounted for using the acquisition method for recording business combinations (in millions, except share data):
Name and Effective Date of Acquisition |  | Common Shares Issued |  |  | Common Share Value |  |  | Cash Paid |  |  | Accrued Liability |  |  | Escrow Deposited |  |  | Recorded Earnout Payable |  |  | Total Recorded Purchase Price |  |  | Maximum Potential Earnout Payable |
|  | (000s) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
First Ireland Risk Management Ltd. January 1, 2023 (FIR) |  |  | — |  |  | $ | — |  |  | $ | 86.4 |  |  | $ | — |  |  | $ | 5.3 |  |  | $ | 6.1 |  |  | $ | 97.8 |  |  | $ | 6.6 |
BCHR Holdings, L.P. dba Buck April 1, 2023 (BCHR) |  |  | — |  |  |  | — |  |  |  | 600.8 |  |  |  | 0.5 |  |  |  | 19.5 |  |  |  | — |  |  |  | 620.8 |  |  |  | — |
Boley-Featherston-Huffman & Deal Co. April 1, 2023 (BFH) |  |  | 243 |  |  |  | 45.2 |  |  |  | 8.8 |  |  |  | — |  |  |  | 6.0 |  |  |  | 9.3 |  |  |  | 69.3 |  |  |  | 15.0 |
Tay River Holdings Limited April 1, 2022 (TRH) |  |  | — |  |  |  | — |  |  |  | 40.3 |  |  |  | 4.3 |  |  |  | 2.4 |  |  |  | 32.0 |  |  |  | 79.0 |  |  |  | 88.7 |
Insurance by Ken Brown May 1, 2023 (IKB) |  |  | 273 |  |  |  | 53.9 |  |  |  | 1.8 |  |  |  | — |  |  |  | 2.9 |  |  |  | 11.3 |  |  |  | 69.9 |  |  |  | 17.5 |
RHP General Agency May 1, 2023 (RHP) |  |  | 335 |  |  |  | 65.7 |  |  |  | 1.3 |  |  |  | — |  |  |  | 5.0 |  |  |  | 4.4 |  |  |  | 76.4 |  |  |  | 11.0 |
Clements & Co October 1, 2023 (CLM) |  |  | 193 |  |  |  | 43.3 |  |  |  | 7.1 |  |  |  | — |  |  |  | 3.0 |  |  |  | 30.9 |  |  |  | 84.3 |  |  |  | 70.0 |
Eastern Insurance Group, LLC October 31, 2023 (EIG) |  |  | — |  |  |  | — |  |  |  | 511.4 |  |  |  | 3.7 |  |  |  | — |  |  |  | — |  |  |  | 515.1 |  |  |  | — |
Cadence Insurance, Inc. November 30, 2023 (CDI) |  |  | — |  |  |  | — |  |  |  | 880.1 |  |  |  | 5.9 |  |  |  | — |  |  |  | — |  |  |  | 886.0 |  |  |  | — |
My Plan Manager December 1, 2023 (MPM) |  |  | — |  |  |  | — |  |  |  | 298.6 |  |  |  | — |  |  |  | 3.0 |  |  |  | — |  |  |  | 301.6 |  |  |  | — |
Forty-one other acquisitions completed in 2023 |  |  | 450 |  |  |  | 98.0 |  |  |  | 671.6 |  |  |  | 11.7 |  |  |  | 47.6 |  |  |  | 113.5 |  |  |  | 942.4 |  |  |  | 191.4 |
|  |  | 1,494 |  |  | $ | 306.1 |  |  | $ | 3,108.2 |  |  | $ | 26.1 |  |  | $ | 94.7 |  |  | $ | 207.5 |  |  | $ | 3,742.6 |  |  | $ | 400.2 |
Summary of Estimated Fair Values of Net Assets Acquired | The following is a summary of the estimated fair values of the net assets acquired at the date of each acquisition made in 2023 (in millions):
|  | FIR |  |  | BCHR |  |  | BFH |  |  | TRH |  |  | IKB |  |  | RHP |  |  | CLM |  |  | EIG |  |  | CDI |  |  | MPM |  |  | Forty-one Other Acquisitions |  |  | Total |
Cash and cash equivalents |  | $ | 13.0 |  |  | $ | 25.8 |  |  | $ | 0.6 |  |  | $ | 5.3 |  |  | $ | 2.0 |  |  | $ | — |  |  | $ | — |  |  | $ | 0.5 |  |  | $ | 58.7 |  |  | $ | 5.0 |  |  | $ | 35.1 |  |  | $ | 146.0 |
Fiduciary assets |  |  | 13.8 |  |  |  | — |  |  |  | 3.7 |  |  |  | — |  |  |  | 0.5 |  |  |  | 3.0 |  |  |  | 15.8 |  |  |  | 22.9 |  |  |  | 42.3 |  |  |  | — |  |  |  | 88.4 |  |  |  | 190.4 |
Other current assets |  |  | 1.4 |  |  |  | 60.9 |  |  |  | 1.4 |  |  |  | 8.3 |  |  |  | 2.6 |  |  |  | 1.5 |  |  |  | 3.3 |  |  |  | 20.4 |  |  |  | 40.7 |  |  |  | 5.5 |  |  |  | 31.2 |  |  |  | 177.2 |
Fixed assets |  |  | 0.8 |  |  |  | 36.8 |  |  |  | — |  |  |  | — |  |  |  | 0.2 |  |  |  | — |  |  |  | 1.5 |  |  |  | 0.1 |  |  |  | 12.3 |  |  |  | 59.6 |  |  |  | 0.8 |  |  |  | 112.1 |
Noncurrent assets |  |  | 8.6 |  |  |  | 35.0 |  |  |  | 0.2 |  |  |  | 0.2 |  |  |  | 0.5 |  |  |  | 0.3 |  |  |  | 4.0 |  |  |  | 1.5 |  |  |  | 16.0 |  |  |  | 4.8 |  |  |  | 14.5 |  |  |  | 85.6 |
Goodwill |  |  | 63.8 |  |  |  | 366.8 |  |  |  | 50.6 |  |  |  | 61.9 |  |  |  | 49.8 |  |  |  | 43.7 |  |  |  | 59.9 |  |  |  | 191.1 |  |  |  | 314.7 |  |  |  | 121.8 |  |  |  | 465.1 |  |  |  | 1,789.2 |
Expiration lists |  |  | 25.9 |  |  |  | 207.6 |  |  |  | 22.7 |  |  |  | 7.5 |  |  |  | 22.3 |  |  |  | 43.5 |  |  |  | 34.5 |  |  |  | 322.0 |  |  |  | 499.5 |  |  |  | 88.0 |  |  |  | 447.5 |  |  |  | 1,721.0 |
Non-compete agreements |  |  | 0.1 |  |  |  | — |  |  |  | 0.6 |  |  |  | — |  |  |  | 0.5 |  |  |  | — |  |  |  | 0.6 |  |  |  | 1.0 |  |  |  | 1.6 |  |  |  | 14.7 |  |  |  | 11.4 |  |  |  | 30.5 |
Trade names |  |  | 0.4 |  |  |  | 2.6 |  |  |  | — |  |  |  | 0.4 |  |  |  | — |  |  |  | 0.2 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 58.7 |  |  |  | 2.0 |  |  |  | 64.3 |
Total assets acquired |  |  | 127.8 |  |  |  | 735.5 |  |  |  | 79.8 |  |  |  | 83.6 |  |  |  | 78.4 |  |  |  | 92.2 |  |  |  | 119.6 |  |  |  | 559.5 |  |  |  | 985.8 |  |  |  | 358.1 |  |  |  | 1,096.0 |  |  |  | 4,316.3 |
Fiduciary liabilities |  |  | 13.8 |  |  |  | — |  |  |  | 3.7 |  |  |  | — |  |  |  | 0.5 |  |  |  | 3.0 |  |  |  | 15.8 |  |  |  | 22.9 |  |  |  | 42.3 |  |  |  | — |  |  |  | 88.4 |  |  |  | 190.4 |
Current liabilities |  |  | 3.9 |  |  |  | 50.4 |  |  |  | 0.6 |  |  |  | 2.6 |  |  |  | 1.7 |  |  |  | 1.3 |  |  |  | 3.8 |  |  |  | 20.4 |  |  |  | 38.6 |  |  |  | 4.8 |  |  |  | 21.7 |  |  |  | 149.8 |
Noncurrent liabilities |  |  | 12.3 |  |  |  | 64.3 |  |  |  | 6.2 |  |  |  | 2.0 |  |  |  | 6.3 |  |  |  | 11.5 |  |  |  | 15.7 |  |  |  | 1.1 |  |  |  | 18.9 |  |  |  | 51.7 |  |  |  | 43.5 |  |  |  | 233.5 |
Total liabilities assumed |  |  | 30.0 |  |  |  | 114.7 |  |  |  | 10.5 |  |  |  | 4.6 |  |  |  | 8.5 |  |  |  | 15.8 |  |  |  | 35.3 |  |  |  | 44.4 |  |  |  | 99.8 |  |  |  | 56.5 |  |  |  | 153.6 |  |  |  | 573.7 |
Total net assets acquired |  | $ | 97.8 |  |  | $ | 620.8 |  |  | $ | 69.3 |  |  | $ | 79.0 |  |  | $ | 69.9 |  |  | $ | 76.4 |  |  | $ | 84.3 |  |  | $ | 515.1 |  |  | $ | 886.0 |  |  | $ | 301.6 |  |  | $ | 942.4 |  |  | $ | 3,742.6 |
Summary of Unaudited Pro Forma Historical Results | The following is a summary of the unaudited pro forma historical results, as if these entities had been acquired at January 1, 2022 (in millions, except per share data):
|  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |
Total revenues |  | $ | 10,579.8 |  |  | $ | 9,390.7 |
Net earnings attributable to controlling interests |  |  | 954.4 |  |  |  | 1,091.5 |
Basic net earnings per share |  |  | 4.42 |  |  |  | 5.15 |
Diluted net earnings per share |  |  | 4.33 |  |  |  | 5.05 |

X
- Definition Schedule Of Business Acquisition, Acquisition of assets [Text Block] + References No definition available. + Details
Name: | ajg_ScheduleOfBusinessAcquisitionAcquisitionOfAssetsTableTextBlock
Namespace Prefix: | ajg_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule Of Business Acquisition, Pro Forma [Text Block] + References No definition available. + Details
Name: | ajg_ScheduleOfBusinessAcquisitionProFormaTableTextBlock
Namespace Prefix: | ajg_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 + Details
Name: | us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration