Brown & Brown, Inc.
Cash Flow Statement
| Line Item | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $399.6M | $257.5M | $243.3M | $206.9M | $217.1M | $184.0M | $164.0M | $161.8M |
| Depreciation & Amortization | — | — | — | — | — | — | — | — |
| Depreciation | $22.7M | $21.0M | $20.9M | $20.9M | $17.5M | $15.4M | $12.4M | $12.6M |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | $30.6M | $16.1M | $15.5M | $19.4M | $22.6M | $15.9M | $11.2M | $6.8M |
| Net Cash from Operating Activities | $442.0M | $411.0M | $381.8M | $385.0M | $389.4M | $220.3M | $237.5M | $296.1M |
| Investing Activities | ||||||||
| Capital Expenditures | $24.2M | $17.8M | $18.4M | $24.9M | $16.4M | $24.0M | $13.6M | $10.5M |
| Business Acquisitions | $41.5M | $122.6M | $136.0M | $696.5M | $367.7M | $425.1M | $166.1M | $157.6M |
| Net Cash from Investing Activities | $-62.6M | — | — | — | $-380.6M | $-435.5M | $-175.7M | $-166.5M |
| Financing Activities | ||||||||
| Dividends Paid | $77.7M | $70.3M | $64.1M | $59.3M | $53.5M | $49.5M | $46.5M | $44.5M |
| Stock Repurchases | $128.6M | $18.9M | $163.8M | $75.0M | $0 | — | — | — |
| Net Cash from Financing Activities | $-336.6M | — | — | — | $-25.6M | $148.7M | $-48.5M | $-53.7M |
| Net Change in Cash | $42.8M | $108.1M | $-56.6M | $267.1M | $-16.9M | $-66.5M | $13.3M | $75.9M |
| Free Cash Flow | $417.8M | $393.3M | $363.5M | $360.1M | $373.0M | $196.3M | $223.9M | $285.6M |