XML 41 R29.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Segment Information (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2018
Segment Reporting Information [Line Items] |
Segment Information | Segment Information Brown & Brown’s business is divided into four reportable segments: (1) the Retail Segment, which provides a broad range of insurance products and services to commercial, public and quasi-public entities, and to professional and individual customers, (2) the National Programs Segment, which acts as a MGA, provides professional liability and related package products for certain professionals, a range of insurance products for individuals, flood coverage, and targeted products and services designated for specific industries, trade groups, governmental entities and market niches, all of which are delivered through nationwide networks of independent agents, and Brown & Brown retail agents, (3) the Wholesale Brokerage Segment, which markets and sells excess and surplus commercial and personal lines insurance, primarily through independent agents and brokers, as well as Brown & Brown retail agents, and (4) the Services Segment, which provides insurance-related services, including third-party claims administration and comprehensive medical utilization management services in both the workers’ compensation and all-lines liability arenas, as well as Medicare Set-aside services, Social Security disability and Medicare benefits advocacy services and claims adjusting services. Brown & Brown conducts all of its operations within the United States of America, except for a wholesale brokerage operation based in London, England, and retail operations in Bermuda and the Cayman Islands. These operations earned $3.3 million and $3.0 million of total revenues for the three months ended March 31, 2018 and 2017, respectively. Long-lived assets held outside of the United States as of March 31, 2018 and 2017 were not material. Additionally, we have a licenses to operate as a broker in various Canadian provinces. The accounting policies of the reportable segments are the same as those described in Note 1 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2017. The Company evaluates the performance of its segments based upon revenues and income before income taxes. Inter-segment revenues are eliminated. Summarized financial information concerning the Company’s reportable segments is shown in the following tables. The “Other” column includes any income and expenses not allocated to reportable segments, corporate-related items, including the intercompany interest expense charge to the reporting segment.
| Three months ended March 31, 2018
(in thousands) | Retail |  | National Programs |  | Wholesale Brokerage |  | Services |  | Other |  | Total
Total revenues | $ | 278,402 |  |  | $ | 112,475 |  |  | $ | 66,148 |  |  | $ | 44,066 |  |  | $ | 370 |  |  | $ | 501,461 |
Investment income | $ | 1 |  |  | $ | 114 |  |  | $ | — |  |  | $ | 73 |  |  | $ | 413 |  |  | $ | 601 |
Amortization | $ | 10,242 |  |  | $ | 6,323 |  |  | $ | 2,837 |  |  | $ | 1,137 |  |  | $ | — |  |  | $ | 20,539 |
Depreciation | $ | 1,237 |  |  | $ | 1,387 |  |  | $ | 427 |  |  | $ | 411 |  |  | $ | 2,090 |  |  | $ | 5,552 |
Interest expense | $ | 6,797 |  |  | $ | 7,496 |  |  | $ | 1,435 |  |  | $ | 594 |  |  | $ | (6,651 | ) |  | $ | 9,671 |
Income before income taxes | $ | 70,399 |  |  | $ | 20,778 |  |  | $ | 11,383 |  |  | $ | 8,816 |  |  | $ | 7,065 |  |  | $ | 118,441 |
Total assets | $ | 4,687,456 |  |  | $ | 3,009,147 |  |  | $ | 1,323,046 |  |  | $ | 432,920 |  |  | $ | (3,837,486 | ) |  | $ | 5,615,083 |
Capital expenditures | $ | 2,407 |  |  | $ | 2,678 |  |  | $ | 420 |  |  | $ | 285 |  |  | $ | 3,961 |  |  | $ | 9,751 |
| Three months ended March 31, 2017
(in thousands) | Retail |  | National Programs |  | Wholesale Brokerage |  | Services |  | Other |  | Total
Total revenues | $ | 239,287 |  |  | $ | 101,183 |  |  | $ | 65,247 |  |  | $ | 39,326 |  |  | $ | 20,037 |  |  | $ | 465,080 |
Investment income | $ | 2 |  |  | $ | 74 |  |  | $ | — |  |  | $ | 80 |  |  | $ | 87 |  |  | $ | 243 |
Amortization | $ | 10,647 |  |  | $ | 6,904 |  |  | $ | 2,931 |  |  | $ | 1,138 |  |  | $ | — |  |  | $ | 21,620 |
Depreciation | $ | 1,389 |  |  | $ | 1,959 |  |  | $ | 490 |  |  | $ | 399 |  |  | $ | 1,861 |  |  | $ | 6,098 |
Interest expense | $ | 8,576 |  |  | $ | 10,035 |  |  | $ | 1,675 |  |  | $ | 961 |  |  | $ | (11,565 | ) |  | $ | 9,682 |
Income before income taxes | $ | 48,855 |  |  | $ | 12,527 |  |  | $ | 15,265 |  |  | $ | 6,121 |  |  | $ | 28,199 |  |  | $ | 110,967 |
Total assets | $ | 3,861,118 |  |  | $ | 2,634,008 |  |  | $ | 1,121,109 |  |  | $ | 363,173 |  |  | $ | (2,781,964 | ) |  | $ | 5,197,444 |
Capital expenditures | $ | 1,136 |  |  | $ | 1,080 |  |  | $ | 378 |  |  | $ | 150 |  |  | $ | 288 |  |  | $ | 3,032 |

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8813-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8736-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_SegmentReportingInformationLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration