Brown & Brown, Inc.
Cash Flow Statement
| Line Item | FY2009 | FY2008 |
|---|---|---|
| Operating Activities | ||
| Net Income | $153.3M | $166.1M |
| Depreciation & Amortization | — | — |
| Depreciation | $13.2M | $13.3M |
| Amortization | — | — |
| Stock-Based Compensation | $7.4M | $7.3M |
| Net Cash from Operating Activities | $221.6M | $341.8M |
| Investing Activities | ||
| Capital Expenditures | $11.3M | $14.1M |
| Business Acquisitions | $44.7M | $263.4M |
| Net Cash from Investing Activities | $-55.4M | $-276.9M |
| Financing Activities | ||
| Dividends Paid | $42.9M | $40.2M |
| Stock Repurchases | — | — |
| Net Cash from Financing Activities | $-47.6M | $-24.5M |
| Net Change in Cash | $118.6M | $40.3M |
| Free Cash Flow | $210.3M | $327.6M |