Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Document Information [Line Items] | |
Document Type | DEF 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | ARTHUR J. GALLAGHER & CO. |
Entity Central Index Key | 0000354190 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure | 12 Months Ended | ||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Pay vs Performance Disclosure [Table] | |||
Pay vs Performance [Table Text Block] | Pay Versus Per f As required by Item 402(v) of Regulation S-K, Overview of Our Executive Compensation Program Components of Compensation for Named Executive Officers . Value of Initial Fixed $100 Investment Based On: Year Summary Compensation Table Total for PEO (1) Compensation Actually Paid to PEO (2) Average Summary Compensation Table Total for Non-PEO Executive Officers (3) Average Compensation Actually Paid to Non-PEO Named Executive Officers (4) Total Shareholder Return (5) Peer Group Total Shareholder Return (6) Net (millions) Adjusted Growth (7) 2022 $ 14,194,926 $ 23,190,737 $ 4,953,048 $ 6,908,560 $ 112.43 $ 97.54 $ 1,114.2 18.4% 2021 $ 13,882,255 $ 36,172,141 $ 5,079,153 $ 11,580,235 $ 139.01 $ 141.53 $ 906.8 17.2% 2020 $ 11,177,460 $ 26,471,099 $ 3,744,087 $ 8,713,871 $ 132.15 $ 106.24 $ 818.8 21.0% (1) The dollar amounts reported in this column are the amounts reported for Pat Gallagher (the company’s Chairman, President and Chief Executive Officer) for each of the corresponding years in the “Total” column of the 2022 Summary Compensation Table (2) The dollar amounts reported in this column represent the amount of “compensation actually paid” to Pat Gallagher, as computed in accordance with Item 402(v) of Regulation S-K 2022 Summary Compensation Table Compensation Actually Paid to PEO 2022 2021 2020 Summary Compensation Table Total $ 14,194,926 $ 13,882,255 $ 11,177,460 Less, value of “Stock Awards” and “Option Awards” reported in 2022 Summary Compensation Table $ 4,802,893 $ 5,492,149 $ 3,637,861 Less, Change in Pension Value reported in 2022 Summary Compensation Table — $ 19,063 $ 98,106 Plus, year-end $ 7,503,151 $ 13,095,137 $ 10,030,670 Plus, fair value as of vesting date of equity awards granted and vested in the year — — — Plus (less), year over year change in fair value of outstanding and unvested equity awards granted in prior years $ 7,566,230 $ 14,263,150 $ 10,345,366 Plus (less), year over year change in fair value of equity awards granted in prior years that vested in the year $ (1,297,632 ) $ 416,987 $ (1,371,701 ) Plus, dividends or other earnings paid on awards in the covered fiscal year prior to vesting if not otherwise included in $ 26,954 $ 25,824 $ 25,271 Less, prior year-end — — — Plus, pension service cost for services rendered during the year — — — Compensation Actually Paid to Pat Gallagher $ 23,190,737 $ 36,172,141 $ 26,471,099 (3) The dollar amounts reported in this column represent the average of the amounts reported for the company’s named executive officers as a group (excluding Pat Gallagher) in the “Total” column of the 2022 Summary Compensation Table (4) The dollar amounts reported in this column represent the average amount of “compensation actually paid” to the named executive officers as a group (excluding Pat Gallagher), as computed in accordance with Item 402(v) of Regulation S-K. 2022 Summary Compensation Table Average Compensation Actually Paid to Non-PEO 2022 2021 2020 Summary Compensation Table Total $ 4,953,048 $ 5,079,153 $ 3,744,087 Less, value of “Stock Awards” and “Option Awards” reported in 2022 Summary Compensation Table $ 1,109,940 $ 1,322,515 $ 925,649 Less, Change in Pension Value reported in 2022 Summary Compensation Table — $ 48 $ 20,737 Plus, year-end $ 1,578,828 $ 2,958,220 $ 2,498,015 Plus, fair value as of vesting date of equity awards granted and vested in the year — — — Plus (less), year over year change in fair value of outstanding and unvested equity awards granted in prior years $ 1,941,447 $ 4,681,938 $ 3,877,807 Plus (less), year over year change in fair value of equity awards granted in prior years that vested in the year ($ 462,939 ) $ 174,571 ($ 467,652 ) Plus, dividends or other earnings paid on awards in the covered fiscal year prior to vesting if not otherwise included in $ 8,115 $ 8,916 $ 8,000 Less, prior year-end — — — Plus, pension service cost for services rendered during the year — — — Average Compensation Actually Paid to Non-PEO $ 6,908,560 $ 11,580,235 $ 8,713,871 (5) Total Shareholder Return (TSR) is calculated by dividing (a) the sum of (i) the cumulative amount of dividends for the measurement period, assuming dividend reinvestment, and (ii) the difference between the company’s share price at the end of each fiscal year shown and the beginning of the measurement period, by (b) the company’s share price at the beginning of the measurement period. The beginning of the measurement period for each year in the table is December 31, 2019. (6) Includes Aon plc; Marsh & McLennan Companies, Inc.; Willis Towers Watson plc; and Brown & Brown, Inc. (7) “Adjusted EBITDAC” growth as defined for our annual cash incentives and PSUs under Annual Cash Incentives Long-Term Incentives non-GAAP | ||
Company Selected Measure Name | “Adjusted EBITDAC” growth | ||
Named Executive Officers, Footnote [Text Block] | The names of each of the named executive officers included for these purposes in each applicable year 2020 through 2022 are as follows: Doug Howell, Tom Gallagher, Scott Hudson and Walt Bay. | ||
Peer Group Issuers, Footnote [Text Block] | Includes Aon plc; Marsh & McLennan Companies, Inc.; Willis Towers Watson plc; and Brown & Brown, Inc. | ||
PEO Total Compensation Amount | $ 14,194,926 | $ 13,882,255 | $ 11,177,460 |
PEO Actually Paid Compensation Amount | $ 23,190,737 | 36,172,141 | 26,471,099 |
Adjustment To PEO Compensation, Footnote [Text Block] | (2) The dollar amounts reported in this column represent the amount of “compensation actually paid” to Pat Gallagher, as computed in accordance with Item 402(v) of Regulation S-K 2022 Summary Compensation Table Compensation Actually Paid to PEO 2022 2021 2020 Summary Compensation Table Total $ 14,194,926 $ 13,882,255 $ 11,177,460 Less, value of “Stock Awards” and “Option Awards” reported in 2022 Summary Compensation Table $ 4,802,893 $ 5,492,149 $ 3,637,861 Less, Change in Pension Value reported in 2022 Summary Compensation Table — $ 19,063 $ 98,106 Plus, year-end $ 7,503,151 $ 13,095,137 $ 10,030,670 Plus, fair value as of vesting date of equity awards granted and vested in the year — — — Plus (less), year over year change in fair value of outstanding and unvested equity awards granted in prior years $ 7,566,230 $ 14,263,150 $ 10,345,366 Plus (less), year over year change in fair value of equity awards granted in prior years that vested in the year $ (1,297,632 ) $ 416,987 $ (1,371,701 ) Plus, dividends or other earnings paid on awards in the covered fiscal year prior to vesting if not otherwise included in $ 26,954 $ 25,824 $ 25,271 Less, prior year-end — — — Plus, pension service cost for services rendered during the year — — — Compensation Actually Paid to Pat Gallagher $ 23,190,737 $ 36,172,141 $ 26,471,099 | ||
Non-PEO NEO Average Total Compensation Amount | $ 4,953,048 | 5,079,153 | 3,744,087 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 6,908,560 | 11,580,235 | 8,713,871 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | (4) The dollar amounts reported in this column represent the average amount of “compensation actually paid” to the named executive officers as a group (excluding Pat Gallagher), as computed in accordance with Item 402(v) of Regulation S-K. 2022 Summary Compensation Table Average Compensation Actually Paid to Non-PEO 2022 2021 2020 Summary Compensation Table Total $ 4,953,048 $ 5,079,153 $ 3,744,087 Less, value of “Stock Awards” and “Option Awards” reported in 2022 Summary Compensation Table $ 1,109,940 $ 1,322,515 $ 925,649 Less, Change in Pension Value reported in 2022 Summary Compensation Table — $ 48 $ 20,737 Plus, year-end $ 1,578,828 $ 2,958,220 $ 2,498,015 Plus, fair value as of vesting date of equity awards granted and vested in the year — — — Plus (less), year over year change in fair value of outstanding and unvested equity awards granted in prior years $ 1,941,447 $ 4,681,938 $ 3,877,807 Plus (less), year over year change in fair value of equity awards granted in prior years that vested in the year ($ 462,939 ) $ 174,571 ($ 467,652 ) Plus, dividends or other earnings paid on awards in the covered fiscal year prior to vesting if not otherwise included in $ 8,115 $ 8,916 $ 8,000 Less, prior year-end — — — Plus, pension service cost for services rendered during the year — — — Average Compensation Actually Paid to Non-PEO $ 6,908,560 $ 11,580,235 $ 8,713,871 | ||
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | Compensation Actually Paid, Cumulative TSR and Peer Group TSR | ||
Compensation Actually Paid vs. Net Income [Text Block] | Compensation Actually Paid and Net Income | ||
Compensation Actually Paid vs. Company Selected Measure [Text Block] | Compensation Actually Paid and Adjusted EBITDAC | ||
Total Shareholder Return Vs Peer Group [Text Block] | Compensation Actually Paid, Cumulative TSR and Peer Group TSR | ||
Tabular List [Table Text Block] | Most Important Measures in Determining NEO Pay Adjusted EBITDAC growth Adjusted Revenue growth Adjusted EBITDAC per share growth | ||
Total Shareholder Return Amount | $ 112.43 | 139.01 | 132.15 |
Peer Group Total Shareholder Return Amount | 97.54 | 141.53 | 106.24 |
Net Income (Loss) | $ 1,114,200,000 | $ 906,800,000 | $ 818,800,000 |
Company Selected Measure Amount | 18.4 | 17.2 | 21 |
PEO Name | Pat Gallagher | ||
Measure [Axis]: 1 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Adjusted EBITDAC growth | ||
Non-GAAP Measure Description [Text Block] | “Adjusted EBITDAC” growth as defined for our annual cash incentives and PSUs under Annual Cash Incentives Long-Term Incentives non-GAAP | ||
Measure [Axis]: 2 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Adjusted Revenue growth | ||
Measure [Axis]: 3 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Adjusted EBITDAC per share growth | ||
PEO [Member] | Stock Awards [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ (4,802,893) | $ (5,492,149) | $ (3,637,861) |
PEO [Member] | Change in Pension Value reported [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (19,063) | (98,106) | |
PEO [Member] | year end fair value of outstanding and unvested equity awards granted in the year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 7,503,151 | 13,095,137 | 10,030,670 |
PEO [Member] | Year over year change in fair value of outstanding and unvested equity awards granted in prior years [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 7,566,230 | 14,263,150 | 10,345,366 |
PEO [Member] | Year over year change in fair value of equity awards granted in prior years that vested in the year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (1,297,632) | 416,987 | (1,371,701) |
PEO [Member] | Dividends or other earnings paid on awards in the covered fiscal year prior to vesting if not otherwise included in the Summary Compensation Table Total for the covered fiscal year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 26,954 | 25,824 | 25,271 |
Non-PEO NEO [Member] | Stock Awards [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (1,109,940) | (1,322,515) | (925,649) |
Non-PEO NEO [Member] | Change in Pension Value reported [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (48) | (20,737) | |
Non-PEO NEO [Member] | year end fair value of outstanding and unvested equity awards granted in the year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 1,578,828 | 2,958,220 | 2,498,015 |
Non-PEO NEO [Member] | Year over year change in fair value of outstanding and unvested equity awards granted in prior years [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 1,941,447 | 4,681,938 | 3,877,807 |
Non-PEO NEO [Member] | Year over year change in fair value of equity awards granted in prior years that vested in the year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (462,939) | 174,571 | (467,652) |
Non-PEO NEO [Member] | Dividends or other earnings paid on awards in the covered fiscal year prior to vesting if not otherwise included in the Summary Compensation Table Total for the covered fiscal year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ 8,115 | $ 8,916 | $ 8,000 |