2017 Form 10-K Financial Statement

#000119312518038261 Filed on February 12, 2018

View on sec.gov

Income Statement

Concept 2017 2016 Q4 2016 Q3
Revenue $6.160B $1.385B $1.482B
YoY Change 10.1% 3.75% 1.89%
Cost Of Revenue $1.636B $1.119B $1.076B
YoY Change 16.14% 17.78% 5.13%
Gross Profit $4.524B $351.6M $406.0M
YoY Change 8.06% -8.6% -5.8%
Gross Profit Margin 73.44% 25.39% 27.39%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $121.1M $89.30M $25.70M
YoY Change 16.89% -4.8% 7.98%
% of Gross Profit 2.68% 25.4% 6.33%
Operating Expenses $829.1M $277.8M $189.6M
YoY Change 6.8% -15.95% -8.89%
Operating Profit $3.695B $73.80M $216.4M
YoY Change 8.35% 36.16% -2.92%
Interest Expense $124.1M -$28.30M $28.50M
YoY Change 13.02% 9.69% 11.33%
% of Operating Profit 3.36% -38.35% 13.17%
Other Income/Expense, Net
YoY Change
Pretax Income $359.8M $68.80M $94.90M
YoY Change 7.85% 142.25% -10.22%
Income Tax -$157.1M -$40.80M -$35.50M
% Of Pretax Income -43.66% -59.3% -37.41%
Net Earnings $481.3M $95.10M $122.8M
YoY Change 21.3% 52.65% -7.88%
Net Earnings / Revenue 7.81% 6.87% 8.28%
Basic Earnings Per Share $2.67 $0.69
Diluted Earnings Per Share $2.64 $433.0K $0.69
COMMON SHARES
Basic Shares Outstanding 180.1M shares 177.6M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2017 2016 Q4 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $681.0M $546.0M $532.0M
YoY Change 24.73% 13.75% 43.78%
Cash & Equivalents $681.0M $545.5M $531.8M
Short-Term Investments
Other Short-Term Assets $1.799B $633.7M $601.1M
YoY Change 22.38% 7.92% -14.13%
Inventory
Prepaid Expenses $78.40M $77.90M
Receivables
Other Receivables
Total Short-Term Assets $7.269B $4.416B $4.214B
YoY Change 64.61% 4.8% 4.82%
LONG-TERM ASSETS
Property, Plant & Equipment $412.0M $377.6M $213.9M
YoY Change 8.99% 51.65% 6.58%
Goodwill $3.753B $3.763B
YoY Change 2.47% 5.11%
Intangibles $1.627B $1.630B
YoY Change -4.21% -6.42%
Long-Term Investments
YoY Change
Other Assets $1.419B $504.3M $630.4M
YoY Change 9.07% 13.94% 31.22%
Total Long-Term Assets $7.641B $9.112B $6.987B
YoY Change 8.02% 36.0% 7.65%
TOTAL ASSETS
Total Short-Term Assets $7.269B $4.416B $4.214B
Total Long-Term Assets $7.641B $9.112B $6.987B
Total Assets $14.91B $13.53B $11.20B
YoY Change 29.77% 23.95% 6.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.986B $2.996B $2.867B
YoY Change 66.42% 4.14% 5.91%
Accrued Expenses $948.0M $772.0M $651.0M
YoY Change 22.8% -5.04% 0.46%
Deferred Revenue
YoY Change
Short-Term Debt $151.0M $578.0M $608.0M
YoY Change 19.84% 135.92% 297.39%
Long-Term Debt Due $290.0M $578.0M $608.0M
YoY Change -49.83% 135.92% 297.39%
Total Short-Term Liabilities $6.730B $4.612B $4.399B
YoY Change 45.92% 10.14% 17.96%
LONG-TERM LIABILITIES
Long-Term Debt $2.692B $2.145B $2.045B
YoY Change 25.5% 3.52% -3.78%
Other Long-Term Liabilities $1.188B $1.078B $1.016B
YoY Change 10.2% 11.83% 7.1%
Total Long-Term Liabilities $3.880B $3.222B $3.060B
YoY Change 20.38% 6.16% -0.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.730B $4.612B $4.399B
Total Long-Term Liabilities $3.880B $3.222B $3.060B
Total Liabilities $10.67B $7.834B $7.459B
YoY Change 35.23% 8.47% 9.65%
SHAREHOLDERS EQUITY
Retained Earnings $916.4M $889.8M
YoY Change 18.32% 14.31%
Common Stock $3.444B $3.417B
YoY Change 1.7% 1.39%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.236B $3.597B $3.687B
YoY Change
Total Liabilities & Shareholders Equity $14.91B $11.49B $11.20B
YoY Change 29.77% 5.31% 6.56%

Cashflow Statement

Concept 2017 2016 Q4 2016 Q3
OPERATING ACTIVITIES
Net Income $481.3M $95.10M $122.8M
YoY Change 21.3% 52.65% -7.88%
Depreciation, Depletion And Amortization $121.1M $89.30M $25.70M
YoY Change 16.89% -4.8% 7.98%
Cash From Operating Activities $854.2M $280.7M $239.5M
YoY Change 31.5% -21.94% 0.63%
INVESTING ACTIVITIES
Capital Expenditures -$129.2M -$79.00M -$35.70M
YoY Change -159.32% 190.44% 35.74%
Acquisitions
YoY Change
Other Investing Activities -$381.8M -$105.5M -$55.80M
YoY Change 42.73% 29.45% -52.87%
Cash From Investing Activities -$511.0M -$184.5M -$91.50M
YoY Change 5.3% 69.73% -36.77%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$42.70M
YoY Change -177.08%
Debt Paid & Issued, Net $300.0M
YoY Change 500.0%
Cash From Financing Activities -47.80M -1.500M -25.50M
YoY Change 312.07% -95.44% -28.37%
NET CHANGE
Cash From Operating Activities 854.2M 280.7M 239.5M
Cash From Investing Activities -511.0M -184.5M -91.50M
Cash From Financing Activities -47.80M -1.500M -25.50M
Net Change In Cash 367.4M 94.70M 122.5M
YoY Change 714.63% -56.56% 112.31%
FREE CASH FLOW
Cash From Operating Activities $854.2M $280.7M $239.5M
Capital Expenditures -$129.2M -$79.00M -$35.70M
Free Cash Flow $983.4M $359.7M $275.2M
YoY Change 127.74% -7.01% 4.12%

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<div> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Hedge Accounting</b></font></p> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px"><font style="FONT-FAMILY: Times New Roman" size="2">In August&#xA0;2017, the FASB issued ASU <font style="WHITE-SPACE: nowrap">No.&#xA0;2017-12,</font> Derivatives and Hedging (Topic&#xA0;815): Targeted Improvements to Accounting for Hedging Activities.&#xA0;The new guidance amends the hedge accounting model in the current guidance to enable entities to better portray the economics of their risk management activities in the financial statements and enhance the transparency and understandability of hedge results.&#xA0;The new guidance requires revised tabular disclosures that focus on the effect of hedge accounting by income statement line and the disclosure of the cumulative basis adjustments to the hedged assets and liabilities in fair value hedges. Certain additional disclosures are also required for hedge relationships designated under the <font style="WHITE-SPACE: nowrap"><font style="WHITE-SPACE: nowrap">last-of-layer</font></font> method. The current guidance that requires entities to disclose hedge ineffectiveness has been eliminated because this amount will no longer be separately measured.&#xA0;Under the new guidance, entities will apply the amendments to cash flow and net investment hedge relationships that exist on the date of adoption using a modified retrospective approach (i.e., with a cumulative effect adjustment recorded to the opening balance of retained earnings as of the initial application date). The new guidance also provides transition relief to make it easier for entities to apply certain amendments to existing hedges (including fair value hedges) where the hedge documentation needs to be modified.&#xA0;The presentation and disclosure requirements will be applied prospectively.&#xA0;The new guidance is effective for annual periods beginning after December&#xA0;15, 2018, including interim periods within those periods.&#xA0;Early adoption is permitted in any interim period or annual year before the effective date. If the guidance is early adopted in an interim period, any adjustments would be reflected as of the beginning of the fiscal year that includes that interim period.&#xA0;We are currently assessing the impact that adopting this new guidance will have on our consolidated financial statements.</font></p> </div>
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CY2017 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-4300000
CY2017 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
16000000
CY2017 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
4000000
CY2017 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax
5000000
CY2017 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
184300000
CY2017 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Net Unamortized Gain Loss Arising During Period Before Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansNetUnamortizedGainLossArisingDuringPeriodBeforeTax
-800000
CY2017 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
5000000
CY2017 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
183400000
CY2017 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
2800000
CY2017 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
5200000
CY2017 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
137700000
CY2017 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationBeforeTax
0
CY2017 us-gaap Payments For Previous Acquisition
PaymentsForPreviousAcquisition
57900000
CY2017 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
282700000
CY2017 us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
8900000
CY2017 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
17600000
CY2017 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
129200000
CY2017 us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
372400000
CY2017 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
35100000
CY2017 us-gaap Premiums Earned Net
PremiumsEarnedNet
0
CY2017 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
60400000
CY2017 us-gaap Premiums Written Net
PremiumsWrittenNet
0
CY2017 us-gaap Profit Loss
ProfitLoss
499200000
CY2017 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
648000000
CY2017 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
3643000000
CY2017 us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
600000
CY2017 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
3731000000
CY2017 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
300000000
CY2017 us-gaap Revenues
Revenues
6159600000
CY2017 us-gaap Share Based Compensation
ShareBasedCompensation
17300000
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y0M0D
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y11M8D
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
33.11
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.028 pure
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.023 pure
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P1Y8M26D
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
100000 shares
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
34.33
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
56.87
CY2017 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Lower Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit
23.76
CY2017 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Upper Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit
63.60
CY2017 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
8100000
CY2017 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
60600000
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
476350 shares
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.272 pure
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P3Y11M1D
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1700000 shares
CY2017 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1300000 shares
CY2017 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
19300000
CY2017 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
41100000
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
1600000
CY2017 us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
17300000
CY2017 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
17700000
CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
3300000
CY2017 dei Trading Symbol
TradingSymbol
AJG
CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
1800000
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
600000
CY2017 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
700000
CY2017 us-gaap Variable Interest Entity Ownership Percentage
VariableInterestEntityOwnershipPercentage
0.50 pure
CY2017 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Use of Estimates</b></font></p> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px"><font style="FONT-FAMILY: Times New Roman" size="2">The preparation of our consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. These accounting principles require us to make estimates and assumptions that affect the reported amounts of assets and liabilities and revenues and expenses, and the disclosure of contingent assets and liabilities at the date of our consolidated financial statements. We are also required to make certain judgments and estimates that affect the disclosed amounts of revenues and expenses related to the potential impact of the adoption of and future accounting under ASC Topic&#xA0;606. We periodically evaluate our estimates and assumptions, including those relating to the valuation of goodwill and other intangible assets, investments (including our IRC Section&#xA0;45 investments), income taxes, stock-based compensation, claims handling obligations, retirement plans, litigation and contingencies. We base our estimates on historical experience and various assumptions that we believe to be reasonable based on specific circumstances. Such estimates and assumptions could change in the future as more information becomes known, which could impact the amounts reported and disclosed herein.</font></p> </div>
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
180100000 shares
CY2017 ajg Number Of Countries In Which Company Does Business Through Network Of Correspondent Brokers And Consultants
NumberOfCountriesInWhichCompanyDoesBusinessThroughNetworkOfCorrespondentBrokersAndConsultants
150 Country
CY2017 ajg Number Of Countries In Which Company Has Operations
NumberOfCountriesInWhichCompanyHasOperations
32 Country
CY2017 ajg Amount Of Commitment Expiration Off Balance Sheet Commitments Within Year Four
AmountOfCommitmentExpirationOffBalanceSheetCommitmentsWithinYearFour
200000
CY2017 ajg Amount Of Commitment Expiration Off Balance Sheet Commitments Within Year Five
AmountOfCommitmentExpirationOffBalanceSheetCommitmentsWithinYearFive
200000
CY2017 ajg Recorded Earn Out Payable
RecordedEarnOutPayable
101200000
CY2017 ajg Change In Estimated Acquisition Earnout Payables
ChangeInEstimatedAcquisitionEarnoutPayables
30900000
CY2017 ajg Net Proceeds From Sales Of Operations
NetProceedsFromSalesOfOperations
3200000
CY2017 ajg Earnout Payments For Acquisitions
EarnoutPaymentsForAcquisitions
41700000
CY2017 ajg Revenues From Clean Coal Activities
RevenuesFromCleanCoalActivities
1560500000
CY2017 ajg Net Change In Accrued Compensation And Other Accrued Liabilities
NetChangeInAccruedCompensationAndOtherAccruedLiabilities
-69300000
CY2017 ajg Deferred Compensation And Restricted Stock Expenses Benefit
DeferredCompensationAndRestrictedStockExpensesBenefit
4800000
CY2017 ajg Amount Of Commitment Expiration Off Balance Sheet Commitments Within Year Two
AmountOfCommitmentExpirationOffBalanceSheetCommitmentsWithinYearTwo
200000
CY2017 ajg Amount Of Commitment Expiration Off Balance Sheet Commitments Within Year Three
AmountOfCommitmentExpirationOffBalanceSheetCommitmentsWithinYearThree
200000
CY2017 ajg Share Based Compensation Arrangement By Share Based Payment Award Options Exercised In Period Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisedInPeriodIntrinsicValue
32700000
CY2017 ajg Business Acquisitions Pro Forma Net Income Loss To Controlling Interest
BusinessAcquisitionsProFormaNetIncomeLossToControllingInterest
466300000
CY2017 ajg Allowances For Estimated Policy Cancellations
AllowancesForEstimatedPolicyCancellations
7400000
CY2017 ajg Amount Of Commitment Expiration Off Balance Sheet Commitments Within Year Thereafter
AmountOfCommitmentExpirationOffBalanceSheetCommitmentsWithinYearThereafter
17600000
CY2017 ajg Amount Of Commitment Expiration Off Balance Sheet Commitments Within Year One
AmountOfCommitmentExpirationOffBalanceSheetCommitmentsWithinYearOne
1300000
CY2017 ajg Income Tax Reconciliation Other Permanent Differences
IncomeTaxReconciliationOtherPermanentDifferences
-10600000
CY2017 ajg Amount Of Commitment Expiration Off Balance Sheet Commitments
AmountOfCommitmentExpirationOffBalanceSheetCommitments
19700000
CY2017 ajg Business Combination Aggregate Earnout Obligation Maximum
BusinessCombinationAggregateEarnoutObligationMaximum
567900000
CY2017 ajg Commissions
Commissions
2627100000
CY2017 ajg Amortization Of Deferred Compensation And Restricted Stock
AmortizationOfDeferredCompensationAndRestrictedStock
33500000
CY2017 ajg Net Change In Fees Receivable Unearned Fees
NetChangeInFeesReceivableUnearnedFees
-400000
CY2017 ajg Business Combination Aggregate Earnout Obligation Recorded Maximum
BusinessCombinationAggregateEarnoutObligationRecordedMaximum
264200000
CY2017 ajg Income Tax Reconciliation Changes In Unrecognized Tax Benefits Related To Resolution Of Federal And State Audits Expiration Of Various Statutes Of Limitations And Other Items
IncomeTaxReconciliationChangesInUnrecognizedTaxBenefitsRelatedToResolutionOfFederalAndStateAuditsExpirationOfVariousStatutesOfLimitationsAndOtherItems
-900000
CY2017 ajg Lease Abandonment Charges
LeaseAbandonmentCharges
13200000
CY2017 ajg Weighted Average Number Of Common And Common Equivalent Shares Outstanding
WeightedAverageNumberOfCommonAndCommonEquivalentSharesOutstanding
182100000 shares
CY2017 ajg Deferred Equity Participation Plan Distributions To Key Executives Age
DeferredEquityParticipationPlanDistributionsToKeyExecutivesAge
Age 62 (or the one-year anniversary of the date of the grant for participants over the age of 61 as of the grant date) or upon or after their actual retirement.
CY2017 ajg Maturity Period Of Short Term Investments
MaturityPeriodOfShortTermInvestments
90 days or less
CY2017 ajg Deferred Equity Participation Sub Plan Distributions Requisite Service Description
DeferredEquityParticipationSubPlanDistributionsRequisiteServiceDescription
We made awards under sub-plans of the DEPP for certain production staff, which generally provide for vesting and/or distributions no sooner than five years from the date of awards, although certain awards vest and/or distribute after earlier of fifteen years or the participant reaching age 65.
CY2017 ajg Deferred Equity Participation Sub Plan Distributions To Key Executives Age
DeferredEquityParticipationSubPlanDistributionsToKeyExecutivesAge
Age 65
CY2017 ajg Insurance Contracts Premium Financing Terms
InsuranceContractsPremiumFinancingTerms
Premium financing contracts are structured to minimize potential bad debt expense to us. Such receivables are generally considered delinquent after seven days of the payment due date. In normal course, insurance policies are cancelled within one month of the contractual payment due date if the payment remains delinquent.
CY2017 ajg Operating Lease Commitment Expiration Date
OperatingLeaseCommitmentExpirationDate
2018-02-28
CY2017 ajg Number Of Employees
NumberOfEmployees
2000 Employees
CY2017 ajg Expected Period Of Return On Plan Assets
ExpectedPeriodOfReturnOnPlanAssets
P10Y
CY2017 ajg Weighted Average Period
WeightedAveragePeriod
P4Y
CY2017 ajg Collateralized Delinquency Receivables Period
CollateralizedDelinquencyReceivablesPeriod
P7D
CY2017 ajg Effective Income Tax Rate Reconciliation Other Permanent Differences
EffectiveIncomeTaxRateReconciliationOtherPermanentDifferences
-0.028 pure
CY2017 ajg Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Expected Long Term Return On Plan Assets
DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationExpectedLongTermReturnOnPlanAssets
0.0700 pure
CY2017 ajg Effective Income Tax Rate Reconciliation Changes In Unrecognized Tax Benefits Related To Resolution Of Federal And State Audits Expiration Of Various Statutes Of Limitations And Other Items
EffectiveIncomeTaxRateReconciliationChangesInUnrecognizedTaxBenefitsRelatedToResolutionOfFederalAndStateAuditsExpirationOfVariousStatutesOfLimitationsAndOtherItems
-0.002 pure
CY2017 ajg Acquired Property Through Lease Percentage
AcquiredPropertyThroughLeasePercentage
0.60 pure
CY2017 ajg Acquired Property Through Lease Area
AcquiredPropertyThroughLeaseArea
306000 sqft
CY2017 ajg Proceeds From Settlements On Terminated Interest Rate Swaps
ProceedsFromSettlementsOnTerminatedInterestRateSwaps
8300000
CY2017 ajg Description Of Contracts Renewal Period
DescriptionOfContractsRenewalPeriod
One year or less
CY2017 ajg Supplemental Revenues
SupplementalRevenues
163700000
CY2017 ajg Contingent Revenues
ContingentRevenues
111800000
CY2017 ajg Payments To Acquire Businesses Net Of Cash And Restricted Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAndRestrictedCashAcquired
376100000
CY2016 us-gaap Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net
DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet
-11500000
CY2016 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5900000 shares
CY2016 us-gaap Amount Recognized In Net Periodic Benefit Cost And Other Comprehensive Income Loss Before Tax
AmountRecognizedInNetPeriodicBenefitCostAndOtherComprehensiveIncomeLossBeforeTax
-900000
CY2016 us-gaap Assumed Premiums Earned
AssumedPremiumsEarned
4900000
CY2016 us-gaap Assumed Premiums Written
AssumedPremiumsWritten
5200000
CY2016 us-gaap Adjustment For Amortization
AdjustmentForAmortization
247200000
CY2016 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
567900000
CY2016 us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
2.33
CY2016 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
5765900000
CY2016 us-gaap Brokerage Commissions Revenue
BrokerageCommissionsRevenue
1492800000
CY2016 us-gaap Business Combination Separately Recognized Transactions Additional Disclosures Acquisition Cost Expensed
BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed
16900000
CY2016 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
2.31
CY2016 us-gaap Ceded Premiums Earned
CededPremiumsEarned
74500000
CY2016 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
35100000
CY2016 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
45100000
CY2016 us-gaap Ceded Premiums Written
CededPremiumsWritten
77000000
CY2016 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.52
CY2016 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
168800000
CY2016 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
203900000
CY2016 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
45900000
CY2016 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
22400000
CY2016 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
8400000
CY2016 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-17800000
CY2016 us-gaap Cost Of Coal Products And Services
CostOfCoalProductsAndServices
1408600000
CY2016 us-gaap Costs And Expenses
CostsAndExpenses
5237900000
CY2016 us-gaap Defined Benefit Plan Actual Return On Plan Assets
DefinedBenefitPlanActualReturnOnPlanAssets
14900000
CY2016 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-5300000
CY2016 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
0
CY2016 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
14600000
CY2016 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
0
CY2016 us-gaap Defined Benefit Plan Actuarial Gain Loss
DefinedBenefitPlanActuarialGainLoss
-1800000
CY2016 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Expected Long Term Return On Assets
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets
0.0725 pure
CY2016 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
1500000
CY2016 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
350800000
CY2016 us-gaap Derivative Net Hedge Ineffectiveness Gain Loss
DerivativeNetHedgeIneffectivenessGainLoss
1600000
CY2016 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-146700000
CY2016 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-300000
CY2016 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate
0.0425 pure
CY2016 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
10800000
CY2016 us-gaap Depreciation
Depreciation
103600000
CY2016 us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
-8200000
CY2016 us-gaap Defined Benefit Plan Benefit Obligation Benefits Paid
DefinedBenefitPlanBenefitObligationBenefitsPaid
14600000
CY2016 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
3000000
CY2016 us-gaap Direct Premiums Earned
DirectPremiumsEarned
69600000
CY2016 us-gaap Direct Premiums Written
DirectPremiumsWritten
71800000
CY2016 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.247 pure
CY2016 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
272500000
CY2016 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.32
CY2016 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350 pure
CY2016 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.039 pure
CY2016 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.33
CY2016 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.015 pure
CY2016 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-107600000
CY2016 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
-0.004 pure
CY2016 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.096 pure
CY2016 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.001 pure
CY2016 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.545 pure
CY2016 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
3000000
CY2016 us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
-100800000
CY2016 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
4600000
CY2016 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
3000000
CY2016 us-gaap Gain Loss On Sale Of Equity Investments
GainLossOnSaleOfEquityInvestments
6600000
CY2016 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
225400000
CY2016 us-gaap Gain Loss On Investments
GainLossOnInvestments
6500000
CY2016 us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
3400000
CY2016 us-gaap Goodwill Translation And Purchase Accounting Adjustments
GoodwillTranslationAndPurchaseAccountingAdjustments
-123900000
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
351300000
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
356900000
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
5600000
CY2016 us-gaap Income Taxes Paid
IncomeTaxesPaid
66100000
CY2016 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
124900000
CY2016 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
158000000
CY2016 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
14000000
CY2016 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-34100000
CY2016 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
5300000
CY2016 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
194400000
CY2016 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-10800000
CY2016 us-gaap Increase Decrease In Premiums Receivable
IncreaseDecreaseInPremiumsReceivable
242800000
CY2016 us-gaap Increase Decrease In Reinsurance Payables
IncreaseDecreaseInReinsurancePayables
240200000
CY2016 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
1800000
CY2016 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
300000
CY2016 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
55200000
CY2016 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
34500000
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