XML 37 R26.htm IDEA: XBRL DOCUMENT
v3.22.2

Revenues (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2022
Revenues [Abstract] |
Schedule of Disaggregated by Revenue | The following tables present the revenues disaggregated by revenue source:
|  | Three months ended June 30, 2022 |
(in millions) |  | Retail |  |  | National Programs |  |  | Wholesale Brokerage |  |  | Services |  |  | Other (8) |  |  | Total |
Base commissions (1) |  | $ | 301.6 |  |  | $ | 160.2 |  |  | $ | 95.1 |  |  | $ | — |  |  | $ | — |  |  | $ | 556.9 |
Fees (2) |  |  | 126.2 |  |  |  | 46.9 |  |  |  | 17.4 |  |  |  | 44.0 |  |  |  | (0.3 | ) |  |  | 234.2 |
Other supplemental commissions (3) |  |  | 20.0 |  |  |  | 2.8 |  |  |  | (2.6 | ) |  |  | — |  |  |  | — |  |  |  | 20.2 |
Profit-sharing contingent commissions (4) |  |  | 9.4 |  |  |  | 10.3 |  |  |  | 2.4 |  |  |  | — |  |  |  | — |  |  |  | 22.1 |
Earned premium (5) |  |  | — |  |  |  | 5.3 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 5.3 |
Investment income (6) |  |  | — |  |  |  | 0.2 |  |  |  | — |  |  |  | — |  |  |  | 0.2 |  |  |  | 0.4 |
Other income, net (7) |  |  | 0.4 |  |  |  | — |  |  |  | 0.1 |  |  |  | — |  |  |  | 0.1 |  |  |  | 0.6 |
Total Revenues |  | $ | 457.6 |  |  | $ | 225.7 |  |  | $ | 112.4 |  |  | $ | 44.0 |  |  | $ | — |  |  | $ | 839.7 |
|  | Three months ended June 30, 2021 |
(in millions) |  | Retail |  |  | National Programs |  |  | Wholesale Brokerage |  |  | Services |  |  | Other (8) |  |  | Total |
Base commissions (1) |  | $ | 263.6 |  |  | $ | 125.4 |  |  | $ | 84.0 |  |  | $ | — |  |  | $ | — |  |  | $ | 473.0 |
Fees (2) |  |  | 110.3 |  |  |  | 41.2 |  |  |  | 17.6 |  |  |  | 44.9 |  |  |  | (0.7 | ) |  |  | 213.3 |
Other supplemental commissions (3) |  |  | 18.7 |  |  |  | 0.6 |  |  |  | 0.7 |  |  |  | — |  |  |  | — |  |  |  | 20.0 |
Profit-sharing contingent commissions (4) |  |  | 8.4 |  |  |  | 9.0 |  |  |  | 2.2 |  |  |  | — |  |  |  | — |  |  |  | 19.6 |
Earned premium (5) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Investment income (6) |  |  | — |  |  |  | 0.1 |  |  |  | — |  |  |  | — |  |  |  | 0.1 |  |  |  | 0.2 |
Other income, net (7) |  |  | 0.1 |  |  |  | — |  |  |  | 0.1 |  |  |  | — |  |  |  | 1.0 |  |  |  | 1.2 |
Total Revenues |  | $ | 401.1 |  |  | $ | 176.3 |  |  | $ | 104.6 |  |  | $ | 44.9 |  |  | $ | 0.4 |  |  | $ | 727.3 |
|  | Six months ended June 30, 2022 |
(in millions) |  | Retail |  |  | National Programs |  |  | Wholesale Brokerage |  |  | Services |  |  | Other (8) |  |  | Total |
Base commissions (1) |  | $ | 695.1 |  |  | $ | 277.5 |  |  | $ | 173.4 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,146.0 |
Fees (2) |  |  | 238.8 |  |  |  | 81.5 |  |  |  | 33.6 |  |  |  | 87.6 |  |  |  | (0.6 | ) |  |  | 440.9 |
Other supplemental commissions (3) |  |  | 92.2 |  |  |  | 3.9 |  |  |  | 3.0 |  |  |  | — |  |  |  | — |  |  |  | 99.1 |
Profit-sharing contingent commissions (4) |  |  | 27.4 |  |  |  | 18.3 |  |  |  | 5.0 |  |  |  | — |  |  |  | — |  |  |  | 50.7 |
Earned premium (5) |  |  | — |  |  |  | 6.4 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 6.4 |
Investment income (6) |  |  | — |  |  |  | 0.3 |  |  |  | 0.1 |  |  |  | — |  |  |  | 0.2 |  |  |  | 0.6 |
Other income, net (7) |  |  | 0.5 |  |  |  | — |  |  |  | 0.2 |  |  |  | — |  |  |  | 0.1 |  |  |  | 0.8 |
Total Revenues |  | $ | 1,054.0 |  |  | $ | 387.9 |  |  | $ | 215.3 |  |  | $ | 87.6 |  |  | $ | (0.3 | ) |  | $ | 1,744.5 |
|  | Six months ended June 30, 2021 |
(in millions) |  | Retail |  |  | National Programs |  |  | Wholesale Brokerage |  |  | Services |  |  | Other (8) |  |  | Total |
Base commissions (1) |  | $ | 620.9 |  |  | $ | 236.0 |  |  | $ | 155.3 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,012.2 |
Fees (2) |  |  | 197.5 |  |  |  | 75.6 |  |  |  | 33.6 |  |  |  | 91.9 |  |  |  | (1.0 | ) |  |  | 397.6 |
Other supplemental commissions (3) |  |  | 80.7 |  |  |  | 1.8 |  |  |  | 2.1 |  |  |  | — |  |  |  | — |  |  |  | 84.6 |
Profit-sharing contingent commissions (4) |  |  | 24.1 |  |  |  | 17.3 |  |  |  | 4.1 |  |  |  | — |  |  |  | — |  |  |  | 45.5 |
Earned premium (5) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Investment income (6) |  |  | — |  |  |  | 0.3 |  |  |  | 0.1 |  |  |  | — |  |  |  | 0.1 |  |  |  | 0.5 |
Other income, net (7) |  |  | 0.8 |  |  |  | 0.2 |  |  |  | 0.2 |  |  |  | — |  |  |  | 1.0 |  |  |  | 2.2 |
Total Revenues |  | $ | 924.0 |  |  | $ | 331.2 |  |  | $ | 195.4 |  |  | $ | 91.9 |  |  | $ | 0.1 |  |  | $ | 1,542.6 |
(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) Other supplemental commissions include additional commissions over base commissions received from insurance carriers based on predetermined growth or production measures. This includes incentive commissions and guaranteed supplemental commissions. (4) Profit-sharing contingent commissions are based primarily on underwriting results, but may also reflect considerations for volume, growth and/or retention. (5) Earned premium relates to the premiums earned in the Captive. (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 June 30, 2022 and December 31, 2021 were as follows:
(in millions) |  | June 30, 2022 |  |  | December 31, 2021 |
Contract assets |  | $ | 425.1 |  |  | $ | 361.8 |
Contract liabilities |  | $ | 92.8 |  |  | $ | 97.9 |

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 https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045 + Details
Name: | us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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 https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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