Brown & Brown, Inc.

NYSE-BRO

Assets	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Cash and Cash Equivalents	1,190	675	700	650	693.2	817.4	542.2	439	573.4	515.6	443.4
Cash and Cash Equivalents
Short-Term Investments	—	—	11	12	12.9	18.3	12.3	12.9	25	15	13.7
Short-Term Investments
Total Cash and Cash Equivalents	1,190	675	711	662	706.1	835.7	554.5	451.8	598.3	530.7	457.2
Accounts Receivable	1,457	895	790	642.9	522.6	1,099.2	942.8	844.8	546.4	502.5	433.9
Premiums, Commissions and Fees Receivable
Commission, Fees and Other Receivables
Total Trade Receivables	1,457	895	790	642.9	522.6	1,099.2	942.8	844.8	546.4	502.5	433.9
Other Current Assets	5,496	5,354	3,629	3,691.1	2,101.6	1,023.3	997.5	870.7	1,097.4	703	646.4
Restricted Cash
Fiduciary Cash
Fiduciary Receivables
Reinsurance Recoverable
Prepaid Reinsurance Premiums
Deferred Income Taxes
Other Current Assets
Total Current Assets	8,143	6,924	5,130	4,996	3,330.3	2,958.2	2,494.8	2,167.3	2,242.2	1,736.1	1,537.4
Total Current Assets
Net Property, Plant & Equipment	635	519	469	454.8	409	388.1	332.9	100.4	77.1	75.8	81.8
Fixed Assets, Net
Operating Lease Assets
Net Intangible Assets	4,952	1,814	1,621	1,595.2	1,081.5	1,049.7	916.8	898.8	641	707.5	744.7
Amortizable Intangible Assets, Net
Goodwill	14,891	7,970	7,341	6,674.2	4,736.8	4,395.9	3,746.1	3,432.8	2,716.1	2,675.4	2,586.7
Goodwill
Long-Term Investments	—	—	21	22.4	31	25	27.4	17.4	13.9	23	18.1
Investments
Other Long-Term Assets	733	385	301	230.9	206.8	149.6	104.9	72	57.3	44.9	35.9
Other Assets
Total Assets	29,354	17,612	14,883	13,973.5	9,795.4	8,966.5	7,622.8	6,688.7	5,747.6	5,262.7	5,004.5
Total Assets

Liabilities	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Accounts Payable	849	373	459	286.5	242.7	190.5	100	87.3	64.2	69.6	63.9
Accounts Payable
Accrued Expenses	840	653	608	541.5	456.2	371.7	337.7	279.3	228.7	202	192.1
Accrued Expenses and Other Liabilities
Current Portion of Long-Term Debt	75	225	569	250.6	42.5	70	55	50	120	55.5	73.1
Current Portion of Long-Term Debt
Unearned Revenue	887	577	462	412.3	392.2	377.6	366	337.9	321	308.7	309.6
Unearned Premiums
Other Current Liabilities	4,239	4,486	2,858	3,105.7	1,533.8	1,344.5	1,186.7	1,028.4	1,253.5	809.4	689.8
Fiduciary Liabilities
Losses and Loss Adjustment Reserve
Premium Deposits and Credits Due Customers
Premiums Payable
Total Current Liabilities	6,890	6,314	4,956	4,596.6	2,667.4	2,354.4	2,045.4	1,783	1,987.5	1,445.2	1,328.5
Total Current Liabilities
Long-Term Debt	7,653	3,599	3,227	3,691.5	1,980.4	2,025.9	1,500.3	1,457	856.1	1,018.4	1,071.6
Long-Term Debt Less Unamortized Discount and Debt Issuance Costs
Leases	243	189	179	195.9	180	172.9	167.9	—	—	—	—
Operating Lease Liabilities
Other Long-Term Liabilities	2,161	1,073	942	882.9	770.7	659.1	559	448.1	321.2	439	454.5
Deferred Income Taxes, Net
Other Liabilities
Total Long-Term Liabilities	10,057	4,861	4,348	4,770.3	2,931.1	2,857.9	2,227.2	1,905.1	1,177.4	1,457.4	1,526.2
Total Liabilities	16,947	11,175	9,304	9,366.9	5,598.5	5,212.3	4,272.5	3,688.1	3,164.9	2,902.5	2,854.7

Equity	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Common Stock	36	31	30	30.3	30.1	30	29.7	29.3	28.7	14.8	14.6
Common Stock
Treasury Stock	-748	-748	-748	-748	-673.9	-591.3	-536.2	-477.6	-386.3	-257.7	-238.8
Treasury Stock, at Cost
Additional Paid-in Capital	6,117	1,118	1,027	919.7	849.4	794.9	716	615.2	483.7	468.4	426.5
Additional Paid-in Capital
Accumulated Other Comprehensive Income	200	-109	-19	-148.4	-9.4	—	—	—	—	—	—
Accumulated Other Comprehensive Income/(Loss)
Retained Earnings	6,781	6,128	5,289	4,553	4,000.7	3,520.7	3,140.8	2,833.6	2,456.6	2,134.6	1,947.4
Retained Earnings
Total Common Shareholders' Equity	12,386	6,420	5,579	4,606.6	4,196.9	3,754.2	3,350.3	3,000.6	2,582.7	2,360.2	2,149.8
Minority Interests and Other	21	17	—	—	—	—	—	—	—	—	—
Non-Controlling Interests
Total Shareholders' Equity	12,407	6,437	5,579	4,606.6	4,196.9	3,754.2	3,350.3	3,000.6	2,582.7	2,360.2	2,149.8
Total Equity
Total Liabilities and Shareholders' Equity	29,354	17,612	14,883	13,973.5	9,795.4	8,966.5	7,622.8	6,688.7	5,747.6	5,262.7	5,004.5
Total Liabilities and Equity