XML 46 R29.htm IDEA: XBRL DOCUMENT
v3.20.4

Revenues (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Revenues [Abstract] |
Schedule of Disaggregated by Revenue | The following tables present the revenues disaggregated by revenue source:
|  | Twelve months ended December 31, 2020 |
(in thousands) |  | Retail |  |  | National Programs |  |  | Wholesale Brokerage |  |  | Services |  |  | Other(8) |  |  | Total |
Base commissions(1) |  | $ | 1,054,619 |  |  | $ | 422,916 |  |  | $ | 273,878 |  |  | $ | — |  |  | $ | 1 |  |  | $ | 1,751,414 |
Fees(2) |  |  | 275,900 |  |  |  | 159,337 |  |  |  | 66,051 |  |  |  | 174,012 |  |  |  | (1,291 | ) |  |  | 674,009 |
Incentive commissions(3) |  |  | 89,920 |  |  |  | 549 |  |  |  | 3,057 |  |  |  | — |  |  |  | 31 |  |  |  | 93,557 |
Profit-sharing contingent commissions(4) |  |  | 35,785 |  |  |  | 27,278 |  |  |  | 7,871 |  |  |  | — |  |  |  | — |  |  |  | 70,934 |
Guaranteed supplemental commissions(5) |  |  | 15,128 |  |  |  | (238 | ) |  |  | 1,304 |  |  |  | — |  |  |  | — |  |  |  | 16,194 |
Investment income(6) |  |  | 163 |  |  |  | 756 |  |  |  | 184 |  |  |  | — |  |  |  | 1,708 |  |  |  | 2,811 |
Other income, net(7) |  |  | 1,251 |  |  |  | 42 |  |  |  | 452 |  |  |  | — |  |  |  | 2,711 |  |  |  | 4,456 |
Total Revenues |  | $ | 1,472,766 |  |  | $ | 610,640 |  |  | $ | 352,797 |  |  | $ | 174,012 |  |  | $ | 3,160 |  |  | $ | 2,613,375 |
|  | Twelve months ended December 31, 2019 |
(in thousands) |  | Retail |  |  | National Programs |  |  | Wholesale Brokerage |  |  | Services |  |  | Other(8) |  |  | Total |
Base commissions(1) |  | $ | 994,170 |  |  | $ | 338,058 |  |  | $ | 242,380 |  |  | $ | — |  |  | $ | (128 | ) |  | $ | 1,574,480 |
Fees(2) |  |  | 246,135 |  |  |  | 151,298 |  |  |  | 56,852 |  |  |  | 193,641 |  |  |  | (1,160 | ) |  |  | 646,766 |
Incentive commissions(3) |  |  | 80,505 |  |  |  | (524 | ) |  |  | 1,252 |  |  |  | — |  |  |  | 27 |  |  |  | 81,260 |
Profit-sharing contingent commissions(4) |  |  | 34,150 |  |  |  | 17,517 |  |  |  | 7,499 |  |  |  | — |  |  |  | — |  |  |  | 59,166 |
Guaranteed supplemental commissions(5) |  |  | 11,056 |  |  |  | 10,566 |  |  |  | 1,443 |  |  |  | — |  |  |  | — |  |  |  | 23,065 |
Investment income(6) |  |  | 149 |  |  |  | 1,397 |  |  |  | 178 |  |  |  | 139 |  |  |  | 3,917 |  |  |  | 5,780 |
Other income, net(7) |  |  | 1,096 |  |  |  | 72 |  |  |  | 483 |  |  |  | 1 |  |  |  | 2 |  |  |  | 1,654 |
Total Revenues |  | $ | 1,367,261 |  |  | $ | 518,384 |  |  | $ | 310,087 |  |  | $ | 193,781 |  |  | $ | 2,658 |  |  | $ | 2,392,171 |
(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, fees negotiated in lieu of commissions, and F&I products and services.
(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 may also reflect considerations for volume, growth and/or retention.
(5) | Guaranteed supplemental commissions represent 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.
(8) | Fees within other reflects the elimination of intercompany revenues.
Schedule of Balances of Contract Assets and Contract Liabilities Arising from Contracts with Customers | The balances of contract assets and contract liabilities arising from contracts with customers as of December 31, 2020 and 2019 were as follows:
(in thousands) |  | December 31, 2020 |  |  | December 31, 2019 |
Contract assets |  | $ | 308,755 |  |  | $ | 289,609 |
Contract liabilities |  | $ | 80,997 |  |  | $ | 58,126 |

X
- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045 + Details
Name: | us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
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/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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