XML 33 R21.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Revenues (Notes) | 3 Months Ended
--- | ---
Mar. 31, 2018
Disaggregation of Revenue [Line Items] |
Disaggregation of Revenue [Table Text Block] | The following tables present the revenues disaggregated by revenue source:
| Three months ended March 31, 2018
(in thousands) | Retail |  | National Programs |  | Wholesale |  | Services |  | Other |  | Total
Base commissions(1) | $ | 222,329 |  |  | $ | 74,610 |  |  | $ | 52,425 |  |  | $ | — |  |  | $ | 126 |  |  | $ | 349,490 |
Fees(2) | 23,655 |  |  | 33,685 |  |  | 11,271 |  |  | 43,993 |  |  | (236 | ) |  | 112,368 |
Incentive commissions(3) | 23,560 |  |  | 40 |  |  | 207 |  |  | — |  |  | 9 |  |  | 23,816 |
Profit-sharing contingent commissions(4) | 6,130 |  |  | 3,982 |  |  | 1,572 |  |  | — |  |  | — |  |  | 11,684 |
Guaranteed supplemental commissions(5) | 2,522 |  |  | 15 |  |  | 443 |  |  | — |  |  | — |  |  | 2,980 |
Investment income(6) | 1 |  |  | 114 |  |  | — |  |  | 73 |  |  | 413 |  |  | 601 |
Other income, net(7) | 205 |  |  | 29 |  |  | 230 |  |  | — |  |  | 58 |  |  | 522 |
Total Revenues | $ | 278,402 |  |  | $ | 112,475 |  |  | $ | 66,148 |  |  | $ | 44,066 |  |  | $ | 370 |  |  | $ | 501,461 |
(1) | Base commissions generally represent a percentage of the premium paid by an insured and are affected by fluctuations in both premium rate levels charged by insurance companies and the insureds’ underlying “insurable exposure units,” which are units that insurance companies use to measure or express insurance exposed to risk (such as property values, or sales and payroll levels) to determine what premium to charge the insured. Insurance companies establish these premium rates based upon many factors, including loss experience, risk profile and reinsurance rates paid by such insurance companies, none of which we control.
(2) | Fee revenues relate to fees for services other than securing coverage for our customers and fees negotiated in lieu of commissions.
(3) | Incentive commissions include additional commissions over base commissions received from insurance carriers based on predetermined production levels mutually agreed upon by both parties.
(4) | Profit-sharing contingent commissions are based primarily on underwriting results, but which may also reflect considerations for volume, growth and/or retention.
(5) | Guaranteed supplemental commissions represents guaranteed fixed-base agreements in lieu of profit-sharing contingent commissions.
(6) | Investment income consists primarily of interest on cash and investments.
(7) | Other income consists primarily of legal settlements and other miscellaneous income.
Contract Assets and Liabilities The balances of contract assets and contract liabilities arising from contracts with customers for the period ended March 31, 2018 and December 31, 2017 were as follows:
(in thousands) | March 31, 2018 |  | December 31, 2017(1)
Contract assets | $ | 222,544 |  |  | $ | 210,323 |
Contract liabilities | $ | 54,881 |  |  | $ | 51,236 |
(1) | The balances as of December 31, 2017 have been revised to reflect the impact of adopting the New Revenue Standard.
Unbilled receivables (contract assets) arise when the Company recognizes revenue for amounts which have not yet been billed in our systems. Deferred revenue (contract liabilities) relates to payments received in advance of performance under the contract before the transfer of a good or service to the customer. Approximately 87% of the contract liability balance at the beginning of the period is expected to be recognized as revenue during 2018. The remaining 13% of the contract liability balance at the beginning of the period is included within other liabilities (long term) and expected to be recognized as revenue during 2019 or thereafter. During the period ended March 31, 2018, the amount of revenue recognized during the period related to performance obligations satisfied in a previous period, inclusive of changes due to estimates, was insignificant.

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_DisaggregationOfRevenueLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=82913847&loc=SL49130545-203045 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration