2018 Q4 Form 10-K Financial Statement

#000119312519032304 Filed on February 08, 2019

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2018 Q2
Revenue $1.657B $1.779B $1.660B
YoY Change 9.08% 11.6% 11.47%
Cost Of Revenue $1.228B $1.312B $1.202B
YoY Change 7.51% 12.53% 9.34%
Gross Profit $429.0M $466.7M $458.5M
YoY Change 13.85% 9.04% 17.47%
Gross Profit Margin 25.88% 26.24% 27.61%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $109.8M $33.40M $30.80M
YoY Change 13.66% 9.51% 1.99%
% of Gross Profit 25.59% 7.16% 6.72%
Operating Expenses $349.3M $227.7M $222.8M
YoY Change 10.4% 8.95% 9.11%
Operating Profit $79.70M $239.0M $235.7M
YoY Change 31.95% 9.13% 26.65%
Interest Expense -$36.50M $36.70M $33.90M
YoY Change 16.99% 16.88% 7.28%
% of Operating Profit -45.8% 15.36% 14.38%
Other Income/Expense, Net
YoY Change
Pretax Income $43.20M $90.30M $103.6M
YoY Change 47.95% 17.43% 91.5%
Income Tax -$81.40M -$48.10M -$20.10M
% Of Pretax Income -188.43% -53.27% -19.4%
Net Earnings $117.3M $127.6M $114.9M
YoY Change 64.06% 14.95% 64.14%
Net Earnings / Revenue 7.08% 7.17% 6.92%
Basic Earnings Per Share $0.70 $0.63
Diluted Earnings Per Share $624.9K $0.68 $0.62
COMMON SHARES
Basic Shares Outstanding 183.3M shares 182.4M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q4 2018 Q3 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $607.0M $605.0M $652.0M
YoY Change -10.87% 7.08% 10.88%
Cash & Equivalents $607.2M $605.0M $652.2M
Short-Term Investments
Other Short-Term Assets $1.024B $951.5M $878.1M
YoY Change 16.2% 40.01% 32.22%
Inventory
Prepaid Expenses $108.2M $99.90M $95.40M
Receivables
Other Receivables
Total Short-Term Assets $8.119B $8.084B $8.365B
YoY Change 11.68% 58.9% 63.79%
LONG-TERM ASSETS
Property, Plant & Equipment $436.9M $429.3M $427.6M
YoY Change 5.99% 3.85% 10.32%
Goodwill $4.626B $4.501B $4.404B
YoY Change 11.06% 8.19% 10.4%
Intangibles $1.773B $1.772B $1.731B
YoY Change 7.81% 6.04% 4.11%
Long-Term Investments
YoY Change
Other Assets $573.6M $584.6M $586.7M
YoY Change 1.15% 4.47% 4.53%
Total Long-Term Assets $8.215B $8.031B $7.866B
YoY Change 7.53% 3.98% 5.4%
TOTAL ASSETS
Total Short-Term Assets $8.119B $8.084B $8.365B
Total Long-Term Assets $8.215B $8.031B $7.866B
Total Assets $16.33B $16.11B $16.23B
YoY Change 9.55% 25.79% 29.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.740B $5.694B $5.983B
YoY Change 15.12% 62.27% 68.73%
Accrued Expenses $1.037B $938.0M $841.0M
YoY Change 9.39% 22.14% 18.28%
Deferred Revenue
YoY Change
Short-Term Debt $365.0M $230.0M $235.0M
YoY Change 25.86% 84.0% -36.14%
Long-Term Debt Due $365.0M $230.0M $235.0M
YoY Change 25.86% 84.0% -36.14%
Total Short-Term Liabilities $7.694B $7.423B $7.569B
YoY Change 14.31% 57.75% 55.8%
LONG-TERM LIABILITIES
Long-Term Debt $3.091B $3.141B $3.141B
YoY Change 14.84% 14.57% 18.76%
Other Long-Term Liabilities $900.9M $862.1M $931.2M
YoY Change -19.03% -27.63% -19.5%
Total Long-Term Liabilities $3.992B $4.003B $4.072B
YoY Change 4.94% 1.79% 7.12%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.694B $7.423B $7.569B
Total Long-Term Liabilities $3.992B $4.003B $4.072B
Total Liabilities $11.76B $11.50B $11.72B
YoY Change 10.88% 33.15% 35.31%
SHAREHOLDERS EQUITY
Retained Earnings $1.559B $1.518B $1.466B
YoY Change 27.57% 42.89% 46.18%
Common Stock $3.726B $3.700B $3.629B
YoY Change 4.39% 4.33% 3.58%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.499B $4.545B $4.444B
YoY Change
Total Liabilities & Shareholders Equity $16.33B $16.11B $16.23B
YoY Change 9.55% 25.79% 29.13%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2018 Q2
OPERATING ACTIVITIES
Net Income $117.3M $127.6M $114.9M
YoY Change 64.06% 14.95% 64.14%
Depreciation, Depletion And Amortization $109.8M $33.40M $30.80M
YoY Change 13.66% 9.51% 1.99%
Cash From Operating Activities $260.5M $191.3M $530.9M
YoY Change -0.19% -42.43% 116.34%
INVESTING ACTIVITIES
Capital Expenditures -$33.60M -$28.10M -$31.60M
YoY Change -5.08% -0.35% -12.95%
Acquisitions
YoY Change
Other Investing Activities -$222.9M -$180.0M -$327.2M
YoY Change 203.68% 98.68% 325.49%
Cash From Investing Activities -$256.5M -$208.1M -$358.8M
YoY Change 135.75% 75.17% 216.96%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 5.200M -44.80M 132.1M
YoY Change -533.33% -72.95% 33.3%
NET CHANGE
Cash From Operating Activities 260.5M 191.3M 530.9M
Cash From Investing Activities -256.5M -208.1M -358.8M
Cash From Financing Activities 5.200M -44.80M 132.1M
Net Change In Cash 9.200M -61.60M 304.2M
YoY Change -93.91% -228.6% 31.52%
FREE CASH FLOW
Cash From Operating Activities $260.5M $191.3M $530.9M
Capital Expenditures -$33.60M -$28.10M -$31.60M
Free Cash Flow $294.1M $219.4M $562.5M
YoY Change -0.78% -39.14% 99.68%

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112 Entity
CY2018 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
4900000
CY2018 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-199700000
CY2018 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Net Unamortized Gain Loss Arising During Period Before Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansNetUnamortizedGainLossArisingDuringPeriodBeforeTax
-17200000
CY2018 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-910300000
CY2018 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
162000000
CY2018 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
38000000
CY2018 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
765100000
CY2018 us-gaap Net Income Loss
NetIncomeLoss
633500000
CY2018 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
42400000
CY2018 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax
12300000
CY2018 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
10300000
CY2018 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
-15700000
CY2018 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-15600000
CY2018 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
-5600000
CY2018 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 Segment
CY2018 us-gaap Open Tax Year
OpenTaxYear
2011 2012
CY2018 us-gaap Operating Expenses
OperatingExpenses
903700000
CY2018 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-197700000
CY2018 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
6200000
CY2018 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
5700000
CY2018 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
140000000
CY2018 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationBeforeTax
0
CY2018 us-gaap Payments For Previous Acquisition
PaymentsForPreviousAcquisition
64600000
CY2018 us-gaap Premiums Earned Net
PremiumsEarnedNet
0
CY2018 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
4900000
CY2018 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
1300000
CY2018 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
301800000
CY2018 us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
15600000
CY2018 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
11300000
CY2018 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6934000000
CY2018 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
81900000
CY2018 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
124400000
CY2018 us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
792200000
CY2018 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
54200000
CY2018 us-gaap Premiums Written Net
PremiumsWrittenNet
0
CY2018 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
400000000
CY2018 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
3075000000
CY2018 us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
32900000
CY2018 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
3000000000
CY2018 us-gaap Profit Loss
ProfitLoss
675900000
CY2018 us-gaap Share Based Compensation
ShareBasedCompensation
13700000
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y6M
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y10M9D
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
37.85
CY2018 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
58600000
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.023 pure
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.027 pure
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P1Y9M29D
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
400000 shares
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
439100 shares
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.151 pure
CY2018 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
1400000
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1300000 shares
CY2018 dei Trading Symbol
TradingSymbol
AJG
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
49.23
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
70.74
CY2018 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Lower Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit
35.71
CY2018 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Upper Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit
70.74
CY2018 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
-13600000
CY2018 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
61600000
CY2018 us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
13700000
CY2018 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
11300000
CY2018 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1600000 shares
CY2018 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
23300000
CY2018 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
400000
CY2018 us-gaap Variable Interest Entity Ownership Percentage
VariableInterestEntityOwnershipPercentage
0.50 pure
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
182700000 shares
CY2018 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
1700000
CY2018 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
900000
CY2018 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 and recorded amounts of revenues and expenses related to the impact of the adoption of and accounting under 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, revenue recognition, deferred costs, 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>
CY2018 ajg Number Of Countries In Which Company Does Business Through Network Of Correspondent Brokers And Consultants
NumberOfCountriesInWhichCompanyDoesBusinessThroughNetworkOfCorrespondentBrokersAndConsultants
150 Country
CY2018 ajg Number Of Countries In Which Company Has Operations
NumberOfCountriesInWhichCompanyHasOperations
35 Country
CY2018 ajg Amortization Of Deferred Compensation And Restricted Stock
AmortizationOfDeferredCompensationAndRestrictedStock
41600000
CY2018 ajg Earnout Payments For Acquisitions
EarnoutPaymentsForAcquisitions
62100000
CY2018 ajg Payments To Acquire Businesses Net Of Cash And Restricted Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAndRestrictedCashAcquired
784800000
CY2018 ajg Change In Estimated Acquisition Earnout Payables
ChangeInEstimatedAcquisitionEarnoutPayables
9600000
CY2018 ajg Net Change In Accrued Compensation And Other Accrued Liabilities
NetChangeInAccruedCompensationAndOtherAccruedLiabilities
-44900000
CY2018 ajg Deferred Compensation And Restricted Stock Expenses Benefit
DeferredCompensationAndRestrictedStockExpensesBenefit
15800000
CY2018 ajg Amount Of Commitment Expiration Off Balance Sheet Commitments Within Year Two
AmountOfCommitmentExpirationOffBalanceSheetCommitmentsWithinYearTwo
1500000
CY2018 ajg Amount Of Commitment Expiration Off Balance Sheet Commitments Within Year Three
AmountOfCommitmentExpirationOffBalanceSheetCommitmentsWithinYearThree
200000
CY2018 ajg Share Based Compensation Arrangement By Share Based Payment Award Options Exercised In Period Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisedInPeriodIntrinsicValue
54200000
CY2018 ajg Business Acquisitions Pro Forma Net Income Loss To Controlling Interest
BusinessAcquisitionsProFormaNetIncomeLossToControllingInterest
646100000
CY2018 ajg Allowances For Estimated Policy Cancellations
AllowancesForEstimatedPolicyCancellations
7800000
CY2018 ajg Proceeds From Settlements On Terminated Interest Rate Swaps
ProceedsFromSettlementsOnTerminatedInterestRateSwaps
2900000
CY2018 ajg Income Tax Reconciliation Other Permanent Differences
IncomeTaxReconciliationOtherPermanentDifferences
900000
CY2018 ajg Amount Of Commitment Expiration Off Balance Sheet Commitments
AmountOfCommitmentExpirationOffBalanceSheetCommitments
19900000
CY2018 ajg Business Combination Aggregate Earnout Obligation Maximum
BusinessCombinationAggregateEarnoutObligationMaximum
558100000
CY2018 ajg Net Proceeds From Sales Of Operations
NetProceedsFromSalesOfOperations
14500000
CY2018 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.
CY2018 ajg Maturity Period Of Short Term Investments
MaturityPeriodOfShortTermInvestments
90 days or less
CY2018 ajg Amount Of Commitment Expiration Off Balance Sheet Commitments Within Year Thereafter
AmountOfCommitmentExpirationOffBalanceSheetCommitmentsWithinYearThereafter
17600000
CY2018 ajg Amount Of Commitment Expiration Off Balance Sheet Commitments Within Year One
AmountOfCommitmentExpirationOffBalanceSheetCommitmentsWithinYearOne
200000
CY2018 ajg Cost Reimbursements
CostReimbursements
141600000
CY2018 ajg Business Combination Aggregate Earnout Obligation Recorded Maximum
BusinessCombinationAggregateEarnoutObligationRecordedMaximum
258800000
CY2018 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
-200000
CY2018 ajg Amount Of Commitment Expiration Off Balance Sheet Commitments Within Year Four
AmountOfCommitmentExpirationOffBalanceSheetCommitmentsWithinYearFour
200000
CY2018 ajg Amount Of Commitment Expiration Off Balance Sheet Commitments Within Year Five
AmountOfCommitmentExpirationOffBalanceSheetCommitmentsWithinYearFive
200000
CY2018 ajg Recorded Earn Out Payable
RecordedEarnOutPayable
94000000
CY2018 ajg Contract With Customer Liability Additions
ContractWithCustomerLiabilityAdditions
382100000
CY2018 ajg Weighted Average Number Of Common And Common Equivalent Shares Outstanding
WeightedAverageNumberOfCommonAndCommonEquivalentSharesOutstanding
186200000 shares
CY2018 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.
CY2018 ajg Deferred Equity Participation Sub Plan Distributions To Key Executives Age
DeferredEquityParticipationSubPlanDistributionsToKeyExecutivesAge
Age 65
CY2018 ajg Description Of Contracts Renewal Period
DescriptionOfContractsRenewalPeriod
One year or less
CY2018 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.
CY2018 ajg Number Of Employees
NumberOfEmployees
2000 Employees
CY2018 ajg Collateralized Delinquency Receivables Period
CollateralizedDelinquencyReceivablesPeriod
P7D
CY2018 ajg Weighted Average Period
WeightedAveragePeriod
P4Y
CY2018 ajg Expected Period Of Return On Plan Assets
ExpectedPeriodOfReturnOnPlanAssets
P10Y
CY2018 ajg Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Expected Long Term Return On Plan Assets
DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationExpectedLongTermReturnOnPlanAssets
0.0700 pure
CY2018 ajg Effective Income Tax Rate Reconciliation Other Permanent Differences
EffectiveIncomeTaxRateReconciliationOtherPermanentDifferences
0.002 pure
CY2018 ajg Percentage Of Commissions And Fee Revenues Recongized On Effective Date Of Insurance Contract
PercentageOfCommissionsAndFeeRevenuesRecongizedOnEffectiveDateOfInsuranceContract
0.80 pure
CY2018 ajg Percentage Of Commissions And Fee Revenues Recongized In First Three Months Of Insurance Contract
PercentageOfCommissionsAndFeeRevenuesRecongizedInFirstThreeMonthsOfInsuranceContract
0.15 pure
CY2018 ajg Percentage Of Commissions And Fee Revenues Recongized After First Three Months Of Insurance Contract
PercentageOfCommissionsAndFeeRevenuesRecongizedAfterFirstThreeMonthsOfInsuranceContract
0.05 pure
CY2018 ajg Increase Decrease In Premiums And Fee Receivable
IncreaseDecreaseInPremiumsAndFeeReceivable
783100000
CY2018 ajg Revenue From Contract With Customer Before Reimbursements Excluding Assessed Tax
RevenueFromContractWithCustomerBeforeReimbursementsExcludingAssessedTax
6792400000
CY2018 ajg Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm
P4Y5M15D
CY2018 ajg Increase Decrease In Income Taxes Reconciliation Repatriation Of Foreign Earnings
IncreaseDecreaseInIncomeTaxesReconciliationRepatriationOfForeignEarnings
-1800000
CY2018 ajg Increase Decrease In Effective Income Tax Rate Reconciliation Repatriation Of Foreign Earnings
IncreaseDecreaseInEffectiveIncomeTaxRateReconciliationRepatriationOfForeignEarnings
-0.004 pure
CY2016 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5900000 shares
CY2016 us-gaap Adjustment For Amortization
AdjustmentForAmortization
247200000
CY2016 us-gaap Amount Recognized In Net Periodic Benefit Cost And Other Comprehensive Income Loss Before Tax
AmountRecognizedInNetPeriodicBenefitCostAndOtherComprehensiveIncomeLossBeforeTax
-900000
CY2016 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
15200000
CY2016 us-gaap Assumed Premiums Earned
AssumedPremiumsEarned
4900000
CY2016 us-gaap Assumed Premiums Written
AssumedPremiumsWritten
5200000
CY2016 us-gaap Business Combination Separately Recognized Transactions Additional Disclosures Acquisition Cost Expensed
BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed
16900000
CY2016 us-gaap Ceded Premiums Earned
CededPremiumsEarned
74500000
CY2016 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
37900000
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
158300000
CY2016 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
196200000
CY2016 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
40200000
CY2016 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
20700000
CY2016 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
7200000
CY2016 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-17800000
CY2016 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
1408600000
CY2016 us-gaap Costs And Expenses
CostsAndExpenses
5346900000
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 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 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 Interest Expense
InterestExpense
109800000
CY2016 us-gaap Interest Expense Domestic Deposits
InterestExpenseDomesticDeposits
110700000
CY2016 us-gaap Increase Decrease In Reinsurance Payables
IncreaseDecreaseInReinsurancePayables
770000000
CY2016 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
45500000
CY2016 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
27500000
CY2016 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
350800000
CY2016 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
3000000
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 Dividends Common Stock Cash
DividendsCommonStockCash
272500000
CY2016 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
0
CY2016 us-gaap Direct Premiums Earned
DirectPremiumsEarned
69600000
CY2016 us-gaap Direct Premiums Written
DirectPremiumsWritten
71800000
CY2016 us-gaap Derivative Net Hedge Ineffectiveness Gain Loss
DerivativeNetHedgeIneffectivenessGainLoss
1600000
CY2016 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.290 pure
CY2016 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.22
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
0.042 pure
CY2016 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.013 pure
CY2016 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-107600000
CY2016 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.23
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
-0.099 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
0.582 pure
CY2016 us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
-106500000
CY2016 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
2900000
CY2016 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
5300000
CY2016 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
5300000
CY2016 us-gaap Gain Loss On Investments
GainLossOnInvestments
6500000
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
335700000
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
333600000
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-2100000
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
333600000
CY2016 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-96700000
CY2016 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
-1500000
CY2016 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
66100000
CY2016 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
116700000
CY2016 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
166100000
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
-33100000
CY2016 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
4500000
CY2016 us-gaap Income Tax Reconciliation Tax Credits
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