v3.22.2

Business and Basis of Presentation (Tables) | 6 Months Ended
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Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Effects of Adopting ASC 842 | The following table summarizes the effects of adopting ASC 842 on our condensed consolidated statements of comprehensive income (loss) for the three and six months ended June 30, 2021:
| For the Three Months Ended June 30, 2021 |  | For the Six Months Ended June 30, 2021
(in thousands, except per share data) | As Previously Reported |  | Effect of Adoption of Topic 842 |  | As Adjusted |  | As Previously Reported |  | Effect of Adoption of Topic 842 |  | As Adjusted
Operating expenses: |  |  |  |  |  |  |  |  |  |  |
Other operating expenses | $ | 19,200 |  |  | $ | 337 |  |  | $ | 19,537 |  |  | $ | 36,768 |  |  | $ | (356) |  |  | $ | 36,412 |
Total operating expenses | 132,905 |  |  | 337 |  |  | 133,242 |  |  | 249,476 |  |  | (356) |  |  | 249,120 |
Operating income (loss) | (13,199) |  |  | (337) |  |  | (13,536) |  |  | 23,058 |  |  | 356 |  |  | 23,414 |
Net income (loss) | (20,104) |  |  | (337) |  |  | (20,441) |  |  | 10,510 |  |  | 356 |  |  | 10,866 |
Net income (loss) attributable to BRP Group, Inc. | (9,756) |  |  | (337) |  |  | (10,093) |  |  | 4,857 |  |  | 356 |  |  | 5,213 |
Basic earnings (loss) per share | $ | (0.22) |  |  | $ | (0.01) |  |  | $ | (0.23) |  |  | $ | 0.11 |  |  | $ | 0.01 |  |  | $ | 0.12 |
Diluted earnings (loss) per share | $ | (0.22) |  |  | $ | (0.01) |  |  | $ | (0.23) |  |  | $ | 0.11 |  |  | $ | — |  |  | $ | 0.11 |
The following table summarizes the effects of adopting ASC 842 on our condensed consolidated statement of cash flows for the six months ended June 30, 2021:
|  | For the Six Months Ended June 30, 2021
(in thousands) |  | As Previously Reported |  | Effect of Adoption of Topic 842 |  | As Adjusted
Cash flows from operating activities: |  |  |  |  |  |
Net income |  | $ | 10,510 |  |  | $ | 356 |  |  | $ | 10,866 |
Changes in operating assets and liabilities, net of effect of acquisitions: |  |  |  |  |  |
Prepaid expenses and other current assets |  | (2,254) |  |  | 169 |  |  | (2,085) |
Right-of-use assets |  | — |  |  | (57,816) |  |  | (57,816) |
Accounts payable, accrued expenses and other current liabilities |  | 49,321 |  |  | (1,885) |  |  | 47,436 |
Operating lease liabilities |  | — |  |  | 59,176 |  |  | 59,176 |

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