Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2022 |
Jun. 30, 2021 |
Jun. 30, 2022 |
Jun. 30, 2021 |
|
| Revenues: | ||||
| Commissions and fees | $ 232,460 | $ 119,706 | $ 475,308 | $ 272,534 |
| Operating expenses: | ||||
| Commissions, employee compensation and benefits | 172,848 | 89,065 | 326,598 | 178,440 |
| Other operating expenses | 40,770 | 19,537 | 77,212 | 36,412 |
| Amortization expense | 19,170 | 10,742 | 36,732 | 21,279 |
| Change in fair value of contingent consideration | (26,872) | 13,325 | (32,504) | 11,822 |
| Depreciation expense | 1,105 | 573 | 2,093 | 1,167 |
| Total operating expenses | 207,021 | 133,242 | 410,131 | 249,120 |
| Operating income (loss) | 25,439 | (13,536) | 65,177 | 23,414 |
| Interest expense, net | (14,632) | (5,848) | (24,982) | (11,491) |
| Other income (expense), net | 5,786 | (1,057) | 21,237 | (1,057) |
| Total other expense | (8,846) | (6,905) | (3,745) | (12,548) |
| Net income (loss) | 16,593 | (20,441) | 61,432 | 10,866 |
| Less: net income (loss) attributable to noncontrolling interests | 7,951 | (10,348) | 29,921 | 5,653 |
| Net income (loss) attributable to BRP Group, Inc. | 8,642 | (10,093) | 31,511 | 5,213 |
| Comprehensive income (loss) | 16,593 | (20,441) | 61,432 | 10,866 |
| Comprehensive income (loss) attributable to noncontrolling interests | 7,951 | (10,348) | 29,921 | 5,653 |
| Comprehensive income (loss) attributable to BRP Group, Inc. | $ 8,642 | $ (10,093) | $ 31,511 | $ 5,213 |
| Basic earnings (loss) per share | $ 0.15 | $ (0.23) | $ 0.56 | $ 0.12 |
| Diluted earnings (loss) per share | $ 0.14 | $ (0.23) | $ 0.53 | $ 0.11 |
| Weighted-average shares of Class A common stock outstanding - basic | 56,270,491 | 44,671,308 | 55,996,668 | 44,464,312 |
| Weighted-average shares of Class A common stock outstanding - diluted | 59,858,816 | 44,671,308 | 59,354,168 | 46,160,474 |
| X | ||||||||||
- Definition Amount of increase (decrease) in the value of contingent consideration assets and liabilities, including, but not limited to, differences arising upon settlement. No definition available.
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- Definition The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Total costs of sales and operating expenses for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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| X | ||||||||||
- Definition The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Income from agency and brokerage operations (includes sales of annuities and supplemental contracts); service charges, commissions, and fees from the sale of insurance and related services; and management fees from separate accounts, deferred annuities, and universal life products. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The net amount of operating interest income (expense). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of expense for salary, wage, profit sharing; incentive and equity-based compensation; and other employee benefit. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Excludes Selling, General and Administrative Expense. No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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