Brown & Brown (BRO) 10-K 23 Feb 21 2020 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2020	Feb. 22, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Registrant Name	BROWN & BROWN, INC.
Entity Central Index Key	0000079282
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		282,089,166
Entity Public Float			$ 9,600,807,597
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Title of 12(b) Security	COMMON STOCK, $0.10 PAR VALUE
Trading Symbol	BRO
Security Exchange Name	NYSE
Entity File Number	001-13619
Entity Incorporation, State or Country Code	FL
Entity Tax Identification Number	59-0864469
Entity Address, Address Line One	300 North Beach Street
Entity Address, City or Town	Daytona Beach
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	32114
City Area Code	386
Local Phone Number	252-9601
Document Annual Report	true
Document Transition Report	false
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of Brown & Brown, Inc.’s Proxy Statement for the 2021 Annual Meeting of Shareholders are incorporated by reference into Part III of this Report.

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
REVENUES
Commissions and fees	$ 2,606,108	$ 2,384,737	$ 2,009,857
Investment income	2,811	5,780	2,746
Other income, net	4,456	1,654	1,643
Total revenues	2,613,375	2,392,171	2,014,246
EXPENSES
Employee compensation and benefits	1,436,377	1,308,165	1,068,914
Other operating expenses	365,973	377,089	332,118
(Gain)/loss on disposal	(2,388)	(10,021)	(2,175)
Amortization	108,523	105,298	86,544
Depreciation	26,276	23,417	22,834
Interest	58,973	63,660	40,580
Change in estimated acquisition earn-out payables	(4,458)	(1,366)	2,969
Total expenses	1,989,276	1,866,242	1,551,784
Income before income taxes	624,099	525,929	462,462
Income taxes	143,616	127,415	118,207
Net income	$ 480,483	$ 398,514	$ 344,255
Net income per share:
Basic (in dollars per share)	$ 1.70	$ 1.42	$ 1.24
Diluted (in dollars per share)	1.69	1.40	1.22
Dividends declared per share (in dollars per share)	$ 0.35	$ 0.33	$ 0.31

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current Assets:
Cash and cash equivalents	$ 817,398	$ 542,174
Restricted cash and investments	454,517	420,801
Short-term investments	18,332	12,325
Premiums, commissions and fees receivable	1,099,248	942,834
Reinsurance recoverable	43,469	58,505
Prepaid reinsurance premiums	377,615	366,021
Other current assets	147,670	152,142
Total current assets	2,958,249	2,494,802
Fixed assets, net	201,115	148,627
Operating lease assets	186,998	184,288
Goodwill	4,395,918	3,746,094
Amortizable intangible assets, net	1,049,660	916,768
Investments	24,971	27,378
Other assets	149,581	104,864
Total assets	8,966,492	7,622,821
Current Liabilities:
Premiums payable to insurance companies	1,198,529	1,014,317
Losses and loss adjustment reserve	43,469	58,505
Unearned premiums	377,615	366,021
Premium deposits and credits due customers	102,505	113,841
Accounts payable	190,497	99,960
Accrued expenses and other liabilities	371,737	337,717
Current portion of long-term debt	70,000	55,000
Total current liabilities	2,354,352	2,045,361
Long-term debt less unamortized discount and debt issuance costs	2,025,906	1,500,343
Operating lease liabilities	172,935	167,855
Deferred income taxes, net	344,222	328,277
Other liabilities	314,854	230,706
Shareholders’ Equity:
Common stock, par value $0.10 per share; authorized 560,000 shares; issued 299,689 shares and outstanding 283,004 at 2020, issued 297,106 shares and outstanding 281,655 shares at 2019 - in thousands.	29,969	29,711
Additional paid-in capital	794,909	716,049
Treasury stock, at cost at 16,685 at 2020 and 15,451 shares at 2019, respectively - in thousands	(591,338)	(536,243)
Retained earnings	3,520,683	3,140,762
Total shareholders’ equity	3,754,223	3,350,279
Total liabilities and shareholders’ equity	$ 8,966,492	$ 7,622,821

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized (in shares)	560,000,000	560,000,000
Common stock, shares issued (in shares)	299,689,000	297,106,000
Common stock, shares outstanding (in shares)	283,004,000	281,655,000
Treasury stock shares (in shares)	16,685,000	15,451,000

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Cumulative Effect, Period of Adoption, Adjusted Balance	Common Stock	Common StockCumulative Effect, Period of Adoption, Adjusted Balance	Additional Paid-in Capital	Additional Paid-in CapitalCumulative Effect, Period of Adoption, Adjusted Balance	Treasury Stock	Treasury StockCumulative Effect, Period of Adoption, Adjusted Balance	Retained Earnings	Retained EarningsCumulative Effect, Period of Adoption, Adjustment	Retained EarningsCumulative Effect, Period of Adoption, Adjusted Balance
Beginning Balance, Value at Dec. 31, 2017	$ 2,582,699	$ 117,515	$ 2,700,214	$ 28,689	$ 28,689	$ 483,733	$ 483,733	$ (386,322)	$ (386,322)	$ 2,456,599	$ 117,515	$ 2,574,114
Beginning Balance, Shares at Dec. 31, 2017				286,895	286,895
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201409Member
Net income	$ 344,255									344,255
Net unrealized holding (loss) gain on available-for-sale securities	(78)					(21)				(57)
Common stock issued for employee stock benefit plans	40,167			$ 310		39,857
Common stock issued for employee stock benefit plans, Shares				3,096
Common stock issued for agency acquisitions	100,000			$ 338		99,662
Common stock issued for agency acquisitions, Shares				3,376
Purchase of treasury stock	(100,000)					(8,750)		(91,250)
Common stock issued to directors	700			$ 1		699
Common stock issued to directors, Shares				13
Cash dividends paid	(84,690)									(84,690)
Ending Balance, Value at Dec. 31, 2018	3,000,568			$ 29,338		615,180		(477,572)		2,833,622
Ending Balance, Shares at Dec. 31, 2018				293,380
Net income	398,514									398,514
Net unrealized holding (loss) gain on available-for-sale securities	152					182				(30)
Common stock issued for employee stock benefit plans	60,180			$ 313		59,867
Common stock issued for employee stock benefit plans, Shares				3,129
Common stock issued for agency acquisitions	20,000			$ 57		19,943
Common stock issued for agency acquisitions, Shares				569
Purchase of treasury stock	(38,671)					20,000		(58,671)
Common stock issued to directors	880			$ 3		877
Common stock issued to directors, Shares				28
Cash dividends paid	(91,344)									(91,344)
Ending Balance, Value at Dec. 31, 2019	$ 3,350,279			$ 29,711		716,049		(536,243)		3,140,762
Ending Balance, Shares at Dec. 31, 2019	281,655			297,106
Net income	$ 480,483									480,483
Net unrealized holding (loss) gain on available-for-sale securities	496					466				30
Common stock issued for employee stock benefit plans	47,945			$ 184		47,761
Common stock issued for employee stock benefit plans, Shares				1,844
Common stock issued for agency acquisitions	30,120			$ 72		30,048
Common stock issued for agency acquisitions, Shares				723
Purchase of treasury stock	(55,095)							(55,095)
Common stock issued to directors	587			$ 2		585
Common stock issued to directors, Shares				16
Cash dividends paid	(100,592)									(100,592)
Ending Balance, Value at Dec. 31, 2020	$ 3,754,223			$ 29,969		$ 794,909		$ (591,338)		$ 3,520,683
Ending Balance, Shares at Dec. 31, 2020	283,004			299,689

CONSOLIDATED STATEMENTS OF SH_2

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement Of Stockholders Equity [Abstract]
Cash dividends paid	$ 0.35	$ 0.33	$ 0.31

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net income	$ 480,483	$ 398,514	$ 344,255
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization	108,523	105,298	86,544
Depreciation	26,276	23,417	22,834
Non-cash stock-based compensation	59,749	46,994	33,519
Change in estimated acquisition earn-out payables	(4,458)	(1,366)	2,969
Deferred income taxes	15,943	12,383	15,008
Amortization of debt discount and disposal of deferred financing costs	2,319	2,054	1,627
Accretion of discounts and premiums, investments	48	(5)	(10)
(Gain)/loss on sales of investments, fixed assets and customer accounts	(831)	(9,550)	(1,934)
Payments on acquisition earn-outs in excess of original estimated payables	(4,532)	(351)	(12,538)
Changes in operating assets and liabilities, net of effect from acquisitions and divestitures:
Premiums, commissions and fees receivable (increase) decrease	(135,367)	(86,778)	(93,630)
Reinsurance recoverables (increase) decrease	15,036	6,891	412,424
Prepaid reinsurance premiums (increase) decrease	(11,594)	(28,101)	(16,903)
Other assets (increase) decrease	(42,731)	(46,520)	(22,440)
Premiums payable to insurance companies (increase) decrease	158,775	148,658	141,169
Premium deposits and credits due customers increase (decrease)	(12,886)	7,820	13,792
Losses and loss adjustment reserve increase (decrease)	(15,036)	(6,707)	(411,509)
Unearned premiums increase (decrease)	11,594	28,101	16,903
Accounts payable increase (decrease)	107,754	17,800	21,880
Accrued expenses and other liabilities increase (decrease)	34,716	43,330	22,801
Other liabilities increase (decrease)	(72,134)	16,298	(9,232)
Net cash provided by operating activities	721,647	678,180	567,529
Cash flows from investing activities:
Additions to fixed assets	(70,700)	(73,108)	(41,520)
Payments for businesses acquired, net of cash acquired	(694,842)	(353,043)	(923,874)
Proceeds from sales of fixed assets and customer accounts	9,615	21,592	4,984
Purchases of investments	(14,168)	(17,520)	(9,284)
Proceeds from sales of investments	11,025	8,494	17,923
Net cash used in investing activities	(759,070)	(413,585)	(951,771)
Cash flows from financing activities:
Payments on acquisition earn-outs	(24,977)	(9,566)	(14,059)
Proceeds from long-term debt	700,000	350,000	300,000
Payments on long-term debt	(55,000)	(50,000)	(120,000)
Deferred debt issuance costs	(6,756)	(3,701)	(778)
Borrowings on revolving credit facilities	250,000	100,000	600,000
Payments on revolving credit facilities	(350,000)	(350,000)	(250,000)
Issuances of common stock for employee stock benefit plans	30,104	24,999	19,432
Repurchase of stock benefit plan shares for employees to fund tax withholdings	(41,321)	(10,933)	(12,155)
Purchase of treasury stock	(55,095)	(58,671)	(91,250)
Settlement (prepayment) of accelerated share repurchase program		20,000	(8,750)
Cash dividends paid	(100,592)	(91,344)	(84,690)
Net cash provided by (used in) financing activities	346,363	(79,216)	337,750
Net increase (decrease) in cash and cash equivalents inclusive of restricted cash	308,940	185,379	(46,492)
Cash and cash equivalents inclusive of restricted cash at beginning of period	962,975	777,596	824,088
Cash and cash equivalents inclusive of restricted cash at end of period	$ 1,271,915	$ 962,975	$ 777,596

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 1 Summary of Significant Accounting Policies Nature of Operations Brown & Brown, Inc., a Florida corporation, and its subsidiaries (collectively, “Brown & Brown” or the “Company”) is a diversified insurance agency, wholesale brokerage, insurance programs and service organization that markets and sells insurance products and services, primarily in the property, casualty and employee benefits areas. Brown & Brown’s business is divided into four reportable segments. The Retail Segment provides a broad range of insurance products and services to commercial, public and quasi-public, professional and individual insured customers, and non-insurance risk-mitigating products through our automobile dealer services (“F&I”) businesses. The National Programs Segment, which acts as a managing general agent (“MGA”), provides professional liability and related package products for certain professionals, a range of insurance products for individuals, flood coverage, and targeted products and services designated for specific industries, trade groups, governmental entities and market niches, all of which are delivered through a nationwide network of independent agents, including Brown & Brown retail agents. The Wholesale Brokerage Segment markets and sells excess and surplus commercial and personal lines insurance, primarily through independent agents and brokers, as well as Brown & Brown retail agents. The Services Segment provides insurance-related services, including third-party claims administration and comprehensive medical utilization management services in both the workers’ compensation and all-lines liability arenas, as well as Medicare Set-aside services, Social Security disability and Medicare benefits advocacy services and claims adjusting services. Recently Issued Accounting Pronouncements In March 2020, the Financial Accounting Standards Board (“FASB”) issued ASU 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting." The amendments provide optional guidance for a limited time to ease the potential burden in accounting for reference rate reform. The new guidance provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts and hedging relationships that reference LIBOR or another reference rate expected to be discontinued due to reference rate reform. These amendments are effective immediately and may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022. We are currently evaluating our contracts and the available expedients provided by the new standard; however, the Company can assert there is no impact to any carrying value of assets or liabilities aside from our floating-rate debt instruments that are indexed to LIBOR and are carried at amortized cost. Any further impact of adoption will be in determining the new periodic floating interest rate indexed to our floating-rate debt instruments with no impact on the balance sheet upon adoption. In December 2019, the FASB issued ASU 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes”. The standard removes specific exceptions in the current rules and eliminates the need for an organization to analyze whether the following apply in a given period: (a) exception to the incremental approach for intra-period tax allocation; (b) exceptions to accounting for basis differences when there are ownership changes in foreign investments and (c) exception in interim period income tax accounting for year-to-date losses that exceed anticipated losses. The standard also is designed to improve financial statement preparers’ application of income tax-related guidance and simplify GAAP for (a) franchise taxes that are partially based on income; (b) transactions with a government that result in a step-up in the tax basis of goodwill; (c) separate financial statements of legal entities that are not subject to tax and (d) enacted changes in tax laws in interim periods. The standard takes effect for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. The Company does not expect that adopting this standard will have a material impact on the Company’s financial position. Recently Adopted Accounting Standards In August 2018, the FASB issued ASU 2018-15, “Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract,” which provides guidance for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). ASU 2018-15 became effective for public companies for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company adopted ASU 2018-15 effective January 1, 2020. The impact of adoption of this standard on our consolidated financial statements, including accounting policies, processes, and systems, was not material. In January 2017, the FASB issued ASU No. 2017-04, “Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.” The new guidance eliminates Step 2 of the goodwill impairment test. The updated guidance requires an entity to perform its annual or interim goodwill impairment test by comparing the fair value of the reporting unit to its carrying value, and recognizing a non-cash impairment charge for the amount by which the carrying value exceeds the reporting unit’s fair value with the loss not exceeding the total amount of goodwill allocated to that reporting unit. ASU 2017-04 became effective for public companies for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019 and will be applied prospectively. The Company adopted ASU 2017-04 effective January 1, 2020, with interim or annual goodwill impairment tests now comparing the fair value of a reporting unit with its carrying value and no longer performing Step 2 of the goodwill impairment test. In June 2016, the FASB issued ASU 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”. The new guidance adds an impairment model, known as the current expected credit loss (CECL) model that is based on expected losses rather than incurred losses. These amendments require the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable forward-looking information, which is intended to result in more timely recognition of such losses. All related guidance has been codified into, and is now known as, ASC 326 – Financial Instruments—Credit Losses. The new standard is effective for public companies for annual reporting periods beginning after December 15, 2019, and interim periods therein. The Company adopted ASU 2016-13 effective January 1, 2020 and has determined there is not a material impact on the Company’s Financial Statements given that historical trend analysis and assessments for forward-looking qualitative analysis are already integrated into financial assessments for the Company. Principles of Consolidation The accompanying Consolidated Financial Statements include the accounts of Brown & Brown, Inc. and its subsidiaries. All significant intercompany account balances and transactions have been eliminated in the Consolidated Financial Statements. Segment results for prior periods have been recast, where appropriate, to reflect the current year segmental structure. Certain reclassifications have been made to the prior year amounts reported in this Annual Report on Form 10-K in order to conform to the current year presentation. Revenue Recognition The Company earns commissions paid by insurance carriers for the binding of insurance coverage. Commissions are earned at a point in time upon the effective date of bound insurance coverage, as no performance obligation exists after coverage is bound. If there are other services within the contract, the Company estimates the stand-alone selling price for each separate performance obligation, and the corresponding apportioned revenue is recognized over a period of time as the performance obligations are fulfilled. The Company earns fee revenue by receiving negotiated fees in lieu of a commission and from services other than securing insurance coverage. Fee revenues from certain agreements are recognized depending on when the services within the contract are satisfied and when we have transferred control of the related services to the customer. In situations where multiple performance obligations exist within a fee contract, the use of estimates is required to allocate the transaction price on a relative stand-alone selling price basis to each separate performance obligation. Incentive commissions represent a form of variable consideration which includes additional commissions over base commissions received from insurance carriers based on predetermined production levels mutually agreed upon by both parties. Profit-sharing contingent commissions represent a form of variable consideration associated with the placement of coverage, for which we earn commissions. Profit-sharing contingent commissions and incentive commissions are estimated with a constraint applied and accrued relative to the recognition of the corresponding core commissions based on the amount of consideration that will be received in the coming year such that a significant reversal of revenue is not probable. Guaranteed supplemental commissions, a form of variable consideration, represent guaranteed fixed-base agreements in lieu of profit-sharing contingent commissions. Management determines the policy cancellation reserve based upon historical cancellation experience adjusted for any known circumstances. Use of Estimates The preparation of the Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, as well as disclosures of contingent assets and liabilities, at the date of the Consolidated Financial Statements, and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates. Cash and Cash Equivalents Cash and cash equivalents principally consist of demand deposits with financial institutions and highly liquid investments with quoted market prices having maturities of three months or less when purchased. Included in cash and cash equivalents are unrestricted premium from insureds before it is remitted to the appropriate insurance company or companies, net of any commissions we are due. Restricted Cash and Investments, and Premiums, Commissions and Fees Receivable In our capacity as an insurance agent or broker, the Company typically collects premiums from insureds and, after deducting the authorized commissions, remits the net premiums to the appropriate insurance company or companies. Accordingly, premiums that are receivable from insureds are reported within Premiums, commissions, and fee receivable in the Consolidated Balance Sheets. Unremitted net insurance premiums are held in a fiduciary capacity until the Company disburses them, and the use of such funds is restricted by laws in certain states in which our subsidiaries operate, or restricted due to our contracts with a certain insurance company or companies in which we hold premiums in a fiduciary capacity. Where allowed by law, the Company invests these unremitted funds only in cash, money market accounts, tax-free variable-rate demand bonds and commercial paper held for a short-term. In certain states in which the Company operates, the use and investment alternatives for these funds are regulated and restricted by various state laws and agencies. These restricted funds are reported as restricted cash and investments on the Consolidated Balance Sheets. The interest income earned on these unremitted funds, where allowed by state law, is reported as investment income in the Consolidated Statement of Income. In other circumstances, the insurance companies collect the premiums directly from the insureds and remit the applicable commissions to the Company. Accordingly, as reported in the Consolidated Balance Sheets, commissions are receivables from insurance companies. Fees are primarily receivables due from customers. Investments Certificates of deposit, and other securities, having maturities of more than three months when purchased are reported at cost and are adjusted for other-than-temporary market value declines. The Company’s investment holdings include U.S. Government securities, municipal bonds, domestic corporate and foreign corporate bonds as well as short-duration fixed income funds. Investments within the portfolio or funds are held as available-for-sale and are carried at their fair value. Any gain/loss applicable from the fair value change is recorded, net of tax, as other comprehensive income within the equity section of the Consolidated Balance Sheets. Realized gains and losses are reported on the Consolidated Statement of Income, with the cost of securities sold determined on a specific identification basis. Fixed Assets Fixed assets, including leasehold improvements, are carried at cost, less accumulated depreciation and amortization. Expenditures for improvements are capitalized, and expenditures for maintenance and repairs are expensed to operations as incurred. Upon sale or retirement, the cost and related accumulated depreciation and amortization are removed from the accounts and the resulting gain or loss, if any, is reflected in other income. Depreciation has been determined using the straight-line method over the estimated useful lives of the related assets, which range from 3 to 39 years. Leasehold improvements are amortized on the straight-line method over the shorter of the useful life of the improvement or the term of the related lease. Goodwill and Amortizable Intangible Assets All of our business combinations are accounted for using the acquisition method. Acquisition purchase prices are typically based upon a multiple of average annual EBITDA, operating profit and/or core revenue earned over a period of 3 years within a minimum and maximum price range. The recorded purchase prices for acquisitions include an estimation of the fair value of liabilities associated with any potential earn-out provisions. Subsequent changes in the fair value of earn-out obligations are recorded in the Consolidated Statement of Income when incurred. The fair value of earn-out obligations is based upon the present value of the expected future payments to be made to the sellers of the acquired businesses in accordance with the provisions contained in the respective purchase agreements. In determining fair value, the acquired business’ future performance is estimated using financial projections developed by management for the acquired business and this estimate reflects market participant assumptions regarding revenue growth and/or profitability. The expected future payments are estimated on the basis of the earn-out formula and performance targets specified in each purchase agreement compared to the associated financial projections. These estimates are then discounted to present value using a risk-adjusted rate that takes into consideration the likelihood that the forecasted earn-out payments will be made. Amortizable intangible assets are stated at cost, less accumulated amortization, and consist of purchased customer accounts and non-compete agreements. Purchased customer accounts and non-compete agreements are amortized on a straight-line basis over the related estimated lives and contract periods, which range from 3 to 15 years. Purchased customer accounts primarily consist of records and files that contain information about insurance policies and the related insured parties that are essential to policy renewals. The excess of the purchase price of an acquisition over the fair value of the identifiable tangible and amortizable intangible assets is assigned to goodwill. While goodwill is not amortizable, it is subject to assessment at least annually, and more frequently in the presence of certain circumstances, for impairment by application of a fair value-based test. The Company compares the fair value of each reporting unit with its carrying amount to determine if there is potential impairment of goodwill. If the fair value of the reporting unit is less than its carrying value, an impairment loss is recorded to the extent that the fair value of the goodwill within the reporting unit is less than its carrying value. Fair value is estimated based upon multiples of earnings before interest, income taxes, depreciation, amortization and change in estimated acquisition earn-out payables (“EBITDAC”), or on a discounted cash flow basis. The Company completed its most recent annual assessment as of November 30, 2020 and determined that the fair value of goodwill significantly exceeded the carrying value of such assets. In addition, as of December 31, 2020, there are no accumulated impairment losses. The carrying value of amortizable intangible assets attributable to each business or asset group comprising the Company is periodically reviewed by management to determine if there are events or changes in circumstances that would indicate that its carrying amount may not be recoverable. Accordingly, if there are any such changes in circumstances during the year, the Company assesses the carrying value of its amortizable intangible assets by considering the estimated future undiscounted cash flows generated by the corresponding business or asset group. Any impairment identified through this assessment may require that the carrying value of related amortizable intangible assets be adjusted. There were no impairments recorded for the years ended December 31, 2020, 2019 and 2018. Income Taxes The Company records income tax expense using the asset-and-liability method of accounting for deferred income taxes. Under this method, deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial statement carrying values and the income tax bases of the Company’s assets and liabilities. The Company files a consolidated federal income tax return and has elected to file consolidated returns in certain states. Deferred income taxes are provided for in the Consolidated Financial Statements and relate principally to expenses charged to income for financial reporting purposes in one period and deducted for income tax purposes in other periods. Net Income Per Share Basic net income per share is computed based on the weighted average number of common shares (including participating securities) issued and outstanding during the period. Diluted net income per share is computed based on the weighted average number of common shares issued and outstanding plus equivalent shares, assuming the exercise of stock options. The dilutive effect of stock options is computed by application of the treasury-stock method. The following is a reconciliation between basic and diluted weighted average shares outstanding for the years ended December 31: (in thousands, except per share data) 2020 2019 2018 Net income $ 480,483 $ 398,514 $ 344,255 Net income attributable to unvested awarded performance stock (15,197 ) (12,873 ) (8,297 ) Net income attributable to common shares $ 465,286 $ 385,641 $ 335,958 Weighted average number of common shares outstanding – basic 283,294 281,566 277,663 Less unvested awarded performance stock included in weighted average number of common shares outstanding – basic (8,960 ) (9,095 ) (6,692 ) Weighted average number of common shares outstanding for basic earnings per common share 274,334 272,471 270,971 Dilutive effect of stock options 1,533 2,145 4,550 Weighted average number of shares outstanding – diluted 275,867 274,616 275,521 Net income per share: Basic $ 1.70 $ 1.42 $ 1.24 Diluted $ 1.69 $ 1.40 $ 1.22 Fair Value of Financial Instruments The carrying amounts of the Company’s financial assets and liabilities, including cash and cash equivalents; restricted cash and short-term investments; investments; premiums, commissions and fees receivable; reinsurance recoverable; prepaid reinsurance premiums; premiums payable to insurance companies; losses and loss adjustment reserve; unearned premium; premium deposits and credits due customers and accounts payable, at December 31, 2020 and 2019, approximate fair value because of the short-term maturity of these instruments. The carrying amount of the Company’s long-term debt approximates fair value at December 31, 2020 and 2019 as our fixed-rate borrowings of $1,548.2 million Non-Cash The Company grants non-vested stock awards to its employees and officers and fully vested stock awards to directors. The Company uses the modified-prospective method to account for share-based payments. Under the modified-prospective method, compensation cost is recognized for all share-based payments granted on or after January 1, 2006 and for all awards granted to employees prior to January 1, 2006 that remained unvested on that date. The Company uses the alternative-transition method to account for the income tax effects of payments made related to stock-based compensation. The Company uses the Black-Scholes valuation model for valuing all stock options and shares purchased under the Employee Stock Purchase Plan (the “ESPP”). Compensation for non-vested stock awards is measured at fair value on the grant date based upon the number of shares expected to vest. Compensation cost for all awards is recognized in earnings, net of estimated forfeitures, on a straight-line basis over the requisite service period. Reinsurance The only line of insurance in which the Company acts in a risk-bearing capacity is flood insurance associated with the Wright National Flood Insurance Company (“WNFIC”), which is part of our National Programs Segment. The Company protects itself from claims-related losses by reinsuring all claims risk exposure. However, for basic admitted policies conforming to the National Flood Insurance Program all exposure is reinsured with the Federal Emergency Management Agency (“FEMA”). For excess flood insurance policies, all exposure is reinsured with a reinsurance carrier with an AM Best Company rating of “A” or better. Reinsurance does not legally discharge the ceding insurer from the primary liability for the full amount due under the reinsured policies. Reinsurance premiums, commissions, expense reimbursement and reserves related to ceded business are accounted for on a basis consistent with the accounting for the original policies issued and the terms of reinsurance contracts. Premiums earned and losses and loss adjustment expenses incurred are reported net of reinsurance amounts. Other underwriting expenses are shown net of earned ceding commission income. The liabilities for unpaid losses and loss adjustment expenses and unearned premiums are reported gross of ceded reinsurance recoverable. Balances due from reinsurers on unpaid losses and loss adjustment expenses, including an estimate of such recoverables related to reserves for incurred but not reported (“IBNR”) losses, are reported as assets and are included in reinsurance recoverable even though amounts due on unpaid loss and loss adjustment expense are not recoverable from the reinsurer until such losses are paid. The Company does not believe it is exposed to any material credit risk through its reinsurance as the reinsurer is FEMA for basic admitted flood policies and national reinsurance carriers for private flood policies, which has an AM Best Company rating of “A” or better. Historically, no amounts due from reinsurance carriers have been written off as uncollectible. Unpaid Losses and Loss Adjustment Reserve Unpaid losses and loss adjustment reserve include amounts determined on individual claims and other estimates based upon the past experience of WNFIC and the policyholders for IBNR claims, less anticipated salvage and subrogation recoverable. The methods of making such estimates and for establishing the resulting reserves are continually reviewed and updated, and any adjustments resulting therefrom are reflected in operations currently. WNFIC engages the services of outside actuarial consulting firms (the “Actuaries”) to assist on an annual basis to render an opinion on the sufficiency of the Company’s estimates for unpaid losses and related loss adjustment reserve. The Actuaries utilize both industry experience and the Company’s own experience to develop estimates of those amounts as of year-end. These estimated liabilities are subject to the impact of future changes in claim severity, frequency and other factors. In spite of the variability inherent in such estimates, management believes that the liabilities for unpaid losses and related loss adjustment reserve are adequate. Premiums from WNFIC are recognized as income over the coverage period of the related policies. Unearned premiums represent the portion of premiums written that relate to the unexpired terms of the policies in force and are determined on a daily pro rata basis. The income is recorded to the commissions and fees line of the income statement.

Revenues

Revenues	12 Months Ended
	Dec. 31, 2020
Revenues [Abstract]
Revenues	NOTE 2 Revenues The following tables present the revenues disaggregated by revenue source: Twelve months ended December 31, 2020 (in thousands) Retail National Programs Wholesale Brokerage Services Other (8) Total Base commissions (1) $ 1,054,619 $ 422,916 $ 273,878 $ — $ 1 $ 1,751,414 Fees (2) 275,900 159,337 66,051 174,012 (1,291 ) 674,009 Incentive commissions (3) 89,920 549 3,057 — 31 93,557 Profit-sharing contingent commissions (4) 35,785 27,278 7,871 — — 70,934 Guaranteed supplemental commissions (5) 15,128 (238 ) 1,304 — — 16,194 Investment income (6) 163 756 184 — 1,708 2,811 Other income, net (7) 1,251 42 452 — 2,711 4,456 Total Revenues $ 1,472,766 $ 610,640 $ 352,797 $ 174,012 $ 3,160 $ 2,613,375 Twelve months ended December 31, 2019 (in thousands) Retail National Programs Wholesale Brokerage Services Other (8) Total Base commissions (1) $ 994,170 $ 338,058 $ 242,380 $ — $ (128 ) $ 1,574,480 Fees (2) 246,135 151,298 56,852 193,641 (1,160 ) 646,766 Incentive commissions (3) 80,505 (524 ) 1,252 — 27 81,260 Profit-sharing contingent commissions (4) 34,150 17,517 7,499 — — 59,166 Guaranteed supplemental commissions (5) 11,056 10,566 1,443 — — 23,065 Investment income (6) 149 1,397 178 139 3,917 5,780 Other income, net (7) 1,096 72 483 1 2 1,654 Total Revenues $ 1,367,261 $ 518,384 $ 310,087 $ 193,781 $ 2,658 $ 2,392,171 (1) Base commissions generally represent a percentage of the premium paid by an insured and are affected by fluctuations in both premium rate levels charged by insurance companies and the insureds’ underlying “insurable exposure units,” which are units that insurance companies use to measure or express insurance exposed to risk (such as property values, or sales and payroll levels) to determine what premium to charge the insured. Insurance companies establish these premium rates based upon many factors, including loss experience, risk profile and reinsurance rates paid by such insurance companies, none of which we control. (2) Fee revenues relate to fees for services other than securing coverage for our customers, fees negotiated in lieu of commissions, and F&I products and services. (3) Incentive commissions include additional commissions over base commissions received from insurance carriers based on predetermined production levels mutually agreed upon by both parties. (4) Profit-sharing contingent commissions are based primarily on underwriting results, but may also reflect considerations for volume, growth and/or retention. (5) Guaranteed supplemental commissions represent guaranteed fixed-base agreements in lieu of profit-sharing contingent commissions. (6) Investment income consists primarily of interest on cash and investments. (7) Other income consists primarily of legal settlements and other miscellaneous income. (8) Fees within other reflects the elimination of intercompany revenues . Contract Assets and Liabilities The balances of contract assets and contract liabilities arising from contracts with customers as of December 31, 2020 and 2019 were as follows: (in thousands) December 31, 2020 December 31, 2019 Contract assets $ 308,755 $ 289,609 Contract liabilities $ 80,997 $ 58,126 Unbilled receivables (contract assets) arise when the Company recognizes revenue for amounts which have not yet been billed in our systems. Deferred revenue (contract liabilities) relates to payments received in advance of performance under the contract before the transfer of a good or service to the customer. As of December 31, 2020, deferred revenue consisted of $54.0 million as current portion to be recognized within one year and $27.0 million in long-term to be recognized beyond one year. As of December 31, 2019, deferred revenue consisted of $41.2 million as current portion to be recognized within one year and $16.9 million in long-term deferred revenue to be recognized beyond one year. Contract assets and contract liabilities arising from acquisitions in 2020 were approximately $11.5 million and $20.0 million, respectively. Contract assets and contract liabilities arising from acquisitions in 2019 were approximately $6.5 million and $9.3 million, respectively. During the twelve months ended December 31, 2020 and 2019, the amount of revenue recognized related to performance obligations satisfied in a previous period, inclusive of changes due to estimates, was approximately $8.9 million and $17.2 million, respectively. The $8.9 million for 2020 consists of $18.1 million of additional variable consideration received on our supplemental commissions, offset by $7.1 million of revised estimates related to variable consideration on policies where the exposure units are expected to be impacted by the COVID-19 pandemic (“COVID-19”) and $2.1 million of other adjustments. Other Assets and Deferred Cost Incremental cost to obtain – The Company defers certain costs to obtain customer contracts primarily as they relate to commission-based compensation plans in the Retail Segment, in which the Company pays an incremental amount of compensation on new business. These incremental costs are deferred and amortized over a 15-year period. The cost to obtain balance within the Other assets caption in the Company’s Condensed Consolidated Balance Sheets was $42.2 million and $26.9 million as of December 31, 2020 and December 31, 2019, respectively. For the 12 months ended December 31, 2020 and December 31, 2019, the Company deferred $17.8 million and $15.1 million of incremental cost to obtain customer contracts, respectively. The Company expensed $2.5 million and $1.4 million of the incremental cost to obtain customer contracts for the 12 months ended December 31, 2020 and December 31, 2019, respectively. Cost to fulfill - The Company defers certain costs to fulfill contracts and recognizes these costs as the associated performance obligations are fulfilled. The cost to fulfill balance within the Other current assets caption in the Company's Condensed Consolidated Balance Sheets was $77.8 million, which is inclusive of deferrals from businesses acquired in the current year of $1.2 million. The cost to fulfill balance as of December 31, 2019 was $73.3 million. For the 12 months ended December 31, 2019, the Company had a net deferral of $3.3 million related to current year deferrals for costs incurred that relate to performance obligations yet to be fulfilled, net of the expense of previously deferred contract fulfillment costs associated with performance obligations that were satisfied in the period.

Business Combinations

Business Combinations	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
Business Combinations	NOTE 3 Business Combinations During the year ended December 31, 2020, the Company acquired the assets and assumed certain liabilities of 20 insurance intermediaries, all the stock of one F&I administrative services company and 4 books of businesses (customer accounts). Additionally, miscellaneous adjustments were recorded to the purchase price allocation of certain prior acquisitions completed within the last 12 months as permitted by ASC Topic 805 - Business Combinations The fair value of earn-out obligations is based upon the present value of the expected future payments to be made to the sellers of the acquired businesses in accordance with the provisions outlined in the respective purchase agreements. In determining fair value, the acquired business’s future performance is estimated using financial projections developed by management for the acquired business and reflects market participant assumptions regarding revenue growth and/or profitability. The expected future payments are estimated on the basis of the earn-out formula and performance targets specified in each purchase agreement compared to the associated financial projections. These payments are then discounted to present value using a risk-adjusted rate that takes into consideration the likelihood that the forecasted earn-out payments will be made. Based upon the acquisition date and the complexity of the underlying valuation work, certain amounts included in the Company’s Consolidated Financial Statements may be provisional and thus subject to further adjustments within the permitted measurement period, as defined in ASC 805. For the year ended December 31, 2020, adjustments were made within the permitted measurement period that resulted in a decrease in the aggregate purchase price of the affected acquisitions of $3.5 million relating to the assumption of certain liabilities on acquisitions completed in 2019. These measurement period adjustments have been reflected as current period adjustments for the year ended December 31, 2020 in accordance with the guidance in ASU 2015-16 “Business Combinations.” The measurement period adjustments impacted goodwill, with no effect on earnings or cash in the current period. Cash paid for acquisitions was $722.5 million and $356.3 million in the years ended December 31, 2020 and 2019, respectively. We completed 25 acquisitions (including book of business purchases) during the year ended December 31, 2020. We completed 27 acquisitions (including book of business purchases) during the year ended December 31, 2019. The following table summarizes the purchase price allocations made as of the date of each acquisition for current year acquisitions and adjustments made during the measurement period for prior year acquisitions. During the measurement periods, the Company will adjust assets or liabilities if new information is obtained about facts and circumstances that existed as of the acquisition date that, if known, would have resulted in the recognition of those assets and liabilities as of that date. These adjustments are made in the period in which the amounts are determined and the current period income effect of such adjustments will be calculated as if the adjustments had been completed as of the acquisition date. (in thousands) Name Business segment Effective date of acquisition Cash paid Common Stock Issued Other payable Recorded earn-out payable Net assets acquired Maximum potential earn- out payable Special Risk Insurance Managers Ltd. (Special Risk) National Programs January 1, 2020 $ 70,156 $ — $ — $ 9,859 $ 80,015 $ 14,650 Texas All Risk General Agency, Inc. et al (Texas Risk) Wholesale Brokerage January 1, 2020 10,511 — 159 310 10,980 1,150 The Colonial Group, Inc. et al (Colonial) Wholesale Brokerage March 1, 2020 29,037 — 527 7,577 37,141 10,150 RLA Insurance Intermediaries, LLC (RLA) Wholesale Brokerage March 1, 2020 42,496 — 786 11,687 54,969 22,500 Dealer Financial Services of N.C., LLC d/b/a The Sterling Group (Sterling) Retail April 1, 2020 19,341 — 300 4,129 23,770 5,400 LP Insurance Services, LLC (LP) National Programs May 1, 2020 115,948 10,000 318 23,394 149,660 75,850 First Resource, Inc. (First) Retail July 1, 2020 10,700 — 450 3,776 14,926 5,800 Buiten & Associates, LLC (Buiten) Retail August 1, 2020 38,225 — 1,175 7,448 46,848 14,175 Amity Insurance, Inc. (Amity) Retail August 1, 2020 14,820 2,000 200 1,860 18,880 4,060 Frank E. Neal & Co., Inc. (Neal) Retail September 1, 2020 32,589 3,120 345 5,732 41,786 10,325 BrookStone Insurance Group, LLC (BrookStone) Retail September 1, 2020 12,030 — — 1,058 13,088 1,878 VAS GenPar, LLC (VAS) Retail October 1, 2020 114,249 15,000 — 23,274 152,523 48,000 Bright & Associates, Inc. (Bright) Retail October 1, 2020 12,528 — 1,257 3,854 17,639 5,775 J.E. Brown & Associates Insurance Services, Inc. (J.E. Brown) Wholesale Brokerage October 1, 2020 33,331 — 1,030 5,947 40,308 10,425 CoverHound, Inc. and CyberPolicy, Inc. (CoverHound) Retail November 1, 2020 27,595 — 600 — 28,195 — MAJ Companies, Ltd. (MAJ) Retail December 1, 2020 19,072 — 300 2,006 21,378 6,475 South & Western General Agency, Inc. (South & Western) Wholesale Brokerage December 1, 2020 69,673 — 1,193 7,294 78,160 18,000 Berry Insurance Group, Inc. (Berry) Retail December 31, 2020 35,326 — — 3,694 39,020 6,500 Other Various Various 14,888 — 490 8,498 23,876 12,337 Total $ 722,515 $ 30,120 $ 9,130 $ 131,397 $ 893,162 $ 273,450 The following table summarizes the estimated fair values of the aggregate assets and liabilities acquired as of the date of each acquisition and adjustments made during the measurement period of the prior year acquisitions. (in thousands) Special Risk Texas Risk Colonial RLA Sterling LP First Buiten Amity Neal Cash $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — Other current assets 2,477 446 1,344 — 612 3,162 302 2,595 653 2,337 Fixed assets 345 27 59 55 16 1,877 1 43 58 46 Goodwill 63,087 8,940 27,845 53,567 17,339 99,983 9,523 33,641 15,454 28,929 Purchased customer accounts 14,286 3,222 9,205 12,309 5,962 44,801 5,095 11,323 5,614 13,225 Non-compete agreements 136 25 43 481 21 31 21 91 21 31 Other assets — — — — — — — — — 274 Total assets acquired 80,331 12,660 38,496 66,412 23,950 149,854 14,942 47,693 21,800 44,842 Other current liabilities (316 ) (1,680 ) (1,355 ) (11,443 ) (180 ) (10 ) (16 ) (845 ) (2,920 ) (3,056 ) Other liabilities — — — — — (184 ) — — — — Total liabilities assumed (316 ) (1,680 ) (1,355 ) (11,443 ) (180 ) (194 ) (16 ) (845 ) (2,920 ) (3,056 ) Net assets acquired $ 80,015 $ 10,980 $ 37,141 $ 54,969 $ 23,770 $ 149,660 $ 14,926 $ 46,848 $ 18,880 $ 41,786 (in thousands) Brook Stone VAS Bright J.E. Brown Cover Hound MAJ South & Western Berry Other Total Cash $ — $ 27,673 $ — $ — $ — $ — $ — $ — $ — $ 27,673 Other current assets 527 5,486 402 — 375 413 — — 912 22,043 Fixed assets 22 138 23 32 6,441 — 149 30 25 9,387 Goodwill 8,585 100,826 12,218 31,476 19,524 13,003 63,128 29,702 11,325 648,095 Purchased customer accounts 3,689 48,188 5,055 9,479 3,678 8,034 18,513 9,701 8,582 239,961 Non-compete agreements 21 101 42 41 — 11 21 11 64 1,213 Other assets 290 — — — — — — — 3,088 3,652 Total assets acquired 13,134 182,412 17,740 41,028 30,018 21,461 81,811 39,444 23,996 952,024 Other current liabilities (46 ) (3,760 ) (101 ) (720 ) (1,823 ) (83 ) (3,651 ) (424 ) (120 ) (32,549 ) Other liabilities — (26,129 ) — — — — — — — (26,313 ) Total liabilities assumed (46 ) (29,889 ) (101 ) (720 ) (1,823 ) (83 ) (3,651 ) (424 ) (120 ) (58,862 ) Net assets acquired $ 13,088 $ 152,523 $ 17,639 $ 40,308 $ 28,195 $ 21,378 $ 78,160 $ 39,020 $ 23,876 $ 893,162 The weighted average useful lives for the acquired amortizable intangible assets are as follows: purchased customer accounts, 15 years; and non-compete agreements, 5 years. Goodwill of $648.1 million, which is net of any opening balance sheet adjustments within the allowable measurement period, was allocated to the Retail, National Programs, Wholesale Brokerage and Services Segments in the amounts of $300.0 million, $163.1 million, $185.0 million and $0.1 million, respectively. Of the total goodwill of $648.1 million, the amount currently deductible for income tax purposes is $516.7 million and the remaining $131.4 million relates to the recorded earn-out payables and will not be deductible until it is earned and paid. For the acquisitions completed during 2020, the results of operations since the acquisition dates have been combined with those of the Company. The total revenues from the acquisitions completed through December 31, 2020 included in the Consolidated Statement of Income for the year ended December 31, 2020 were $93.9 million. The income before income taxes, including the intercompany cost of capital charge, from the acquisitions completed through December 31, 2020 included in the Consolidated Statement of Income for the year ended December 31, 2020 was $7.5 million. If the acquisitions had occurred as of the beginning of the respective periods, the Company’s results of operations would be as shown in the following table. These unaudited pro forma results are not necessarily indicative of the actual results of operations that would have occurred had the acquisitions actually been made at the beginning of the respective periods. (UNAUDITED) Year Ended December 31, (in thousands, except per share data) 2020 2019 Total revenues $ 2,714,314 $ 2,579,075 Income before income taxes $ 650,618 $ 576,355 Net income $ 500,900 $ 436,722 Net income per share: Basic $ 1.77 $ 1.55 Diluted $ 1.76 $ 1.54 Weighted average number of shares outstanding: Basic 274,334 272,471 Diluted 275,867 274,616 Acquisitions in 2019 During the year ended December 31, 2019, the Company acquired the assets and assumed certain liabilities of 22 insurance intermediaries, all the stock of one insurance intermediaries and 4 book of business (customer accounts). Additionally, miscellaneous adjustments were recorded to the purchase price allocation of certain prior acquisitions completed within the last 12 months as permitted by ASC 805. Such adjustments are presented in the “Other” category within the following two tables. For the year ended December 31, 2019, several adjustments were made within the permitted measurement period that resulted in an increase in the aggregate purchase price of the affected acquisitions of $4.1 million, relating to the assumption of certain liabilities. The following table summarizes the purchase price allocation made as of the date of each acquisition for current year acquisitions and significant adjustments made during the measurement period for prior year acquisitions: (in thousands) Name Business segment Effective date of acquisition Cash paid Common Stock Issued Other payable Recorded earn-out payable Net assets acquired Maximum potential earn- out payable Smith Insurance Associates, Inc. (Smith) Retail February 1, 2019 $ 20,129 $ — $ — $ 2,704 $ 22,833 $ 4,550 Donald P. Pipino Company, LTD (Pipino) Retail February 1, 2019 16,420 — 135 9,821 26,376 12,996 AGA Enterprises, LLC d/b/a Cossio Insurance Agency (Cossio) Retail March 1, 2019 13,990 — 10 696 14,696 2,000 Medval, LLC (Medval) Services March 1, 2019 29,106 — 100 1,684 30,890 2,500 United Development Systems, Inc. (United) Retail May 1, 2019 18,987 — 388 3,268 22,643 8,625 Twinbrook Insurance Brokerage, Inc. (Twinbrook) Retail June 1, 2019 26,251 — 400 1,565 28,216 5,073 Innovative Risk Solutions, Inc. (IRS) Retail July 1, 2019 26,435 — 2,465 6,109 35,009 9,000 WBR Insurance Agency, LLC et al (WBR) Retail August 1, 2019 10,667 — 203 2,197 13,067 4,575 West Ridge Insurance Agency, Inc. d/b/a Yozell Associates (Yozell) Retail August 1, 2019 13,030 — 470 768 14,268 6,730 CKP Insurance, LLC (CKP) Retail August 1, 2019 89,190 20,000 4,000 38,093 151,283 76,500 Poole Professional Ltd. Insurance Agents and Brokers et al (Poole) Retail October 1, 2019 32,358 — 75 4,556 36,989 6,850 VerHagen Glendenning & Walker LLP (VGW) Retail October 1, 2019 23,032 — 1,498 2,385 26,915 8,170 Other Various Various 36,665 — 2,391 9,026 48,082 14,454 Total $ 356,260 $ 20,000 $ 12,135 $ 82,872 $ 471,267 $ 162,023 The following table summarizes the estimated fair values of the aggregate assets and liabilities acquired as of the date of each acquisition and adjustments made during the measurement period of the prior year acquisitions. (in thousands) Smith Pipino Cossio Medval United Twinbrook IRS WBR Yozell CKP Cash $ — $ — $ — $ 3,217 $ — $ — $ — $ — $ — $ — Other current assets 680 819 236 1,708 477 919 1,375 449 1,781 9,170 Fixed assets 39 112 29 50 20 85 11 10 12 193 Goodwill 16,042 16,765 10,010 19,108 15,111 18,935 24,938 9,096 8,904 110,495 Purchased customer accounts 6,500 11,360 4,403 7,300 7,065 8,557 8,800 4,022 3,550 32,274 Non-compete agreements 41 11 21 1 11 12 11 34 21 21 Other assets — 772 — 15 — — — — — — Total assets acquired 23,302 29,839 14,699 31,399 22,684 28,508 35,135 13,611 14,268 152,153 Other current liabilities (469 ) (3,463 ) (3 ) (480 ) (41 ) (292 ) (126 ) (166 ) — (870 ) Other liabilities — — — (29 ) — — — (378 ) — — Total liabilities assumed (469 ) (3,463 ) (3 ) (509 ) (41 ) (292 ) (126 ) (544 ) — (870 ) Net assets acquired $ 22,833 $ 26,376 $ 14,696 $ 30,890 $ 22,643 $ 28,216 $ 35,009 $ 13,067 $ 14,268 $ 151,283 (in thousands) Poole VGW Other Total Cash $ — $ — $ — $ 3,217 Other current assets 938 1,190 (6,786 ) 12,956 Fixed assets 4 20 (130 ) 455 Goodwill 28,233 16,595 34,314 328,546 Purchased customer accounts 10,359 9,092 15,020 128,302 Non-compete agreements 33 34 161 412 Other assets — — (732 ) 55 Total assets acquired 39,567 26,931 41,847 473,943 Other current liabilities (2,578 ) (16 ) 6,235 (2,269 ) Other liabilities — — — (407 ) Total liabilities assumed (2,578 ) (16 ) 6,235 (2,676 ) Net assets acquired $ 36,989 $ 26,915 $ 48,082 $ 471,267 The weighted average useful lives for the acquired amortizable intangible assets are as follows: purchased customer accounts, 15 years; and non-compete agreements, 5 years. Goodwill of $328.5 million, which is net of any opening balance sheet adjustments within the allowable measurement period, was allocated to the Retail, National Programs, Wholesale Brokerage and Services Segments in the amounts of $302.6 million, $0.1 million, $6.5 million and $19.3 million, respectively. Of the total goodwill of $328.5 million, the amount currently deductible for income tax purposes is $245.6 million and the remaining $82.9 million relates to the recorded earn-out payables and will not be deductible until it is earned and paid. For the acquisitions completed during 2019, the results of operations since the acquisition dates have been combined with those of the Company. The total revenues from the acquisitions completed through December 31, 2019 included in the Consolidated Statement of Income for the year ended December 31, 2019 were $49.1 million. The income before income taxes, including the intercompany cost of capital charge, from the acquisitions completed through December 31, 2019 included in the Consolidated Statement of Income for the year ended December 31, 2019 was $3.4 million. If the acquisitions had occurred as of the beginning of the respective periods, the Company’s results of operations would be as shown in the following table. These unaudited pro forma results are not necessarily indicative of the actual results of operations that would have occurred had the acquisitions actually been made at the beginning of the respective periods. (UNAUDITED) Year Ended December 31, (in thousands, except per share data) 2019 2018 Total revenues $ 2,447,401 $ 2,120,867 Income before income taxes $ 545,182 $ 496,076 Net income $ 412,974 $ 369,277 Net income per share: Basic $ 1.47 $ 1.33 Diluted $ 1.46 $ 1.31 Weighted average number of shares outstanding: Basic 272,471 270,971 Diluted 274,616 275,521 Acquisitions in 2018 During the year ended December 31, 2018, the Company acquired the assets and assumed certain liabilities of 20 insurance intermediaries, all the stock of three insurance intermediaries and one book of business (customer accounts). Additionally, miscellaneous adjustments were recorded to the purchase price allocation of certain prior acquisitions completed within the last 12 months as permitted by ASC 805. Such adjustments are presented in the “Other” category within the following two tables. For the year ended December 31, 2018, several adjustments were made within the permitted measurement period that resulted in a decrease in the aggregate purchase price of the affected acquisitions of $21.4 thousand, relating to the assumption of certain liabilities. The following table summarizes the purchase price allocation made as of the date of each acquisition for current year acquisitions and significant adjustments made during the measurement period for prior year acquisitions: (in thousands) Name Business segment Effective date of acquisition Cash paid Common Stock Issued Other payable Recorded earn-out payable Net assets acquired Maximum potential earn- out payable Opus Advisory Group, LLC (Opus) Retail February 1, 2018 $ 20,400 $ — $ 200 $ 2,384 $ 22,984 $ 3,600 Kerxton Insurance Agency, Inc. (Kerxton) Retail March 1, 2018 13,176 — 1,490 2,080 16,746 2,920 Automotive Development Group, LLC (ADG) Retail May 1, 2018 29,471 — 559 17,545 47,575 20,000 Servco Pacific, Inc. (Servco) Retail June 1, 2018 76,245 — — 934 77,179 7,000 Tower Hill Prime Insurance Company (Tower Hill) National Programs July 1, 2018 20,300 — — 1,188 21,488 7,700 Health Special Risk, Inc. (HSR) National Programs July 1, 2018 20,132 — — 1,991 22,123 9,000 Professional Disability Associates, LLC (PDA) Services July 1, 2018 15,025 — — 9,818 24,843 17,975 Finance & Insurance Resources, Inc. (F&I) Retail September 1, 2018 44,940 — 410 9,121 54,471 19,500 Rodman Insurance Agency, Inc. (Rodman) Retail November 1, 2018 31,121 — 261 3,720 35,102 9,850 The Hays Group, Inc. et al (Hays) Retail November 16, 2018 605,000 100,000 — 19,600 724,600 25,000 Dealer Associates, Inc. (Dealer) Retail December 1, 2018 28,825 — 1,175 3,100 33,100 12,125 Other Various Various 30,293 — 1,367 5,896 37,556 12,998 Total $ 934,928 $ 100,000 $ 5,462 $ 77,377 $ 1,117,767 $ 147,668 The following table summarizes the estimated fair values of the aggregate assets and liabilities acquired as of the date of each acquisition. (in thousands) Opus Kerxton ADG Servco Tower Hill HSR PDA F&I Rodman Hays Cash $ — $ — $ — $ 8,188 $ — $ 3,114 $ (248 ) $ — $ — $ — Other current assets 1,215 663 1,500 7,769 — 818 1,762 999 1,062 36,254 Fixed assets 11 10 67 179 $ — $ 124 $ 310 $ 34 $ 45 $ 4,936 Goodwill 16,414 12,423 35,769 54,429 — 18,737 16,547 36,423 26,572 456,217 Purchased customer accounts 5,008 4,712 9,751 16,442 21,468 5,516 7,700 16,611 10,129 218,600 Non-compete agreements 21 22 21 1 20 65 82 21 51 2,600 Other assets 315 419 467 1,478 — 21 6 383 542 13,977 Total assets acquired 22,984 18,249 47,575 88,486 21,488 28,395 26,159 54,471 38,401 732,584 Other current liabilities — (1,503 ) — (11,307 ) — (5,930 ) (1,093 ) — (3,299 ) (7,984 ) Deferred income tax, net — — — — — (342 ) (223 ) — — — Total liabilities assumed — (1,503 ) — (11,307 ) — (6,272 ) (1,316 ) — (3,299 ) (7,984 ) Net assets acquired $ 22,984 $ 16,746 $ 47,575 $ 77,179 $ 21,488 $ 22,123 $ 24,843 $ 54,471 $ 35,102 $ 724,600 (in thousands) Dealer Other Total Cash $ — $ — $ 11,054 Other current assets 552 323 52,917 Fixed assets 13 100 5,829 Goodwill 21,467 22,712 717,710 Purchased customer accounts 10,986 15,085 342,008 Non-compete agreements 21 297 3,222 Other assets 226 754 18,588 Total assets acquired 33,265 39,271 1,151,328 Other current liabilities (165 ) (1,715 ) (32,996 ) Other liabilities — — (565 ) Total liabilities assumed (165 ) (1,715 ) (33,561 ) Net assets acquired $ 33,100 $ 37,556 $ 1,117,767 The weighted average useful lives for the acquired amortizable intangible assets are as follows: purchased customer accounts, 15 years; and non-compete agreements, 5 years. Goodwill of $717.7 million was allocated to the Retail, National Programs, Wholesale Brokerage and Services Segments in the amounts of $676.9 million, $18.7 million, $5.5 million and $16.5 million, respectively. Of the total goodwill of $717.7 million, $640.3 million is currently deductible for income tax purposes. The remaining $77.4 million relates to the recorded earn-out payables and will not be deductible until it is earned and paid. For the acquisitions completed during 2018, the results of operations since the acquisition dates have been combined with those of the Company. The total revenues from the acquisitions completed through December 31, 2018 included in the Consolidated Statement of Income for the year ended December 31, 2018 were $82.4 million. The income before income taxes, including the intercompany cost of capital charge, from the acquisitions completed through December 31, 2018 included in the Consolidated Statement of Income for the year ended December 31, 2018 was $6.3 million. If the acquisitions had occurred as of the beginning of the respective periods, the Company’s results of operations would be as shown in the following table. These unaudited pro forma results are not necessarily indicative of the actual results of operations that would have occurred had the acquisitions actually been made at the beginning of the respective periods. (UNAUDITED) Year Ended December 31, (in thousands, except per share data) 2018 2017 Total revenues $ 2,259,812 $ 2,193,169 Income before income taxes $ 504,664 $ 503,927 Net income $ 375,670 $ 447,796 Net income per share: Basic $ 1.35 $ 1.60 Diluted $ 1.33 $ 1.57 Weighted average number of shares outstanding: Basic 270,971 272,580 Diluted 275,521 277,586 As of December 31, 2020, the maximum future contingency payments related to all acquisitions totaled $544.7 million. ASC 805 is the authoritative guidance requiring an acquirer to recognize 100% of the fair values of acquired assets, including goodwill, and assumed liabilities (with only limited exceptions) upon initially obtaining control of an acquired entity. Additionally, the fair value of contingent consideration arrangements (such as earn-out purchase arrangements) at the acquisition date must be included in the purchase price consideration. As a result, the recorded purchase prices for acquisitions include an estimation of the fair value of liabilities associated with any potential earn-out provisions. Subsequent changes in these earn-out obligations will be recorded in the Consolidated Statement of Income when incurred. Potential earn-out obligations are typically based upon future earnings of the acquired entities, usually between one and three years. As of December 31, 2020 , the fair values of the estimated acquisition earn-out payables were re-evaluated and measured at fair value on a recurring basis using unobservable inputs (Level 3) as defined in ASC 820- Fair Value Measurement . The resulting additions, payments and net changes, as well as the interest expense accretion on the estimated acquisition earn-out payables, for the years ended December 31, 2020 , 2019 and 2018 were as follows: Year Ended December 31, (in thousands) 2020 2019 2018 Balance as of the beginning of the period $ 161,513 $ 89,924 $ 36,175 Additions to estimated acquisition earn-out payables from new acquisitions 131,397 82,872 77,377 Payments for estimated acquisition earn-out payables (29,509 ) (9,917 ) (26,597 ) Subtotal 263,401 162,879 86,955 Net change in earnings from estimated acquisition earn-out payables: Change in fair value on estimated acquisition earn-out payables (11,814 ) (7,298 ) 603 Interest expense accretion 7,356 5,932 2,366 Net change in earnings from estimated acquisition earn- out payables (4,458 ) (1,366 ) 2,969 Balance as of December 31, $ 258,943 $ 161,513 $ 89,924 Of the $258.9 million of estimated acquisition earn-out payables as of December 31, 2020, $79.2 million was recorded as accounts payable, and $179.7 million was recorded as another non-current liability. Included within additions to estimated acquisition earn-out payables are any adjustments to opening balance sheet items prior to the one-year anniversary date of the acquisition and may therefore differ from previously reported amounts. Of the $161.5 million of estimated acquisition earn-out payables as of December 31, 2019, $17.9 million was recorded as accounts payable, and $143.6 million was recorded as other non-current liabilities. Of the $89.9 million of estimated acquisition earn-out payables as of December 31, 2018, $21.1 million was recorded as accounts payable, and $68.8 million was recorded as other non-current liabilities.

Goodwill

Goodwill	12 Months Ended
	Dec. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill	NOTE 4 Goodwill The changes in the carrying value of goodwill by reportable segment for the years ended December 31, are as follows: (in thousands) Retail National Programs Wholesale Brokerage Services Total Balance as of January 1, 2019 $ 2,063,150 $ 926,206 $ 291,622 $ 151,808 $ 3,432,786 Goodwill of acquired businesses 302,640 74 6,479 19,353 328,546 Goodwill disposed of relating to sales of businesses (14,499 ) (739 ) — — (15,238 ) Balance as of December 31, 2019 $ 2,351,291 $ 925,541 $ 298,101 $ 171,161 $ 3,746,094 Goodwill of acquired businesses 299,961 163,070 184,956 108 648,095 Goodwill disposed of relating to sales of businesses (782 ) — — — (782 ) Foreign currency translation adjustments during the year — 2,511 — — 2,511 Balance as of December 31, 2020 $ 2,650,470 $ 1,091,122 $ 483,057 $ 171,269 $ 4,395,918

Amortizable Intangible Assets

Amortizable Intangible Assets	12 Months Ended
	Dec. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Amortizable Intangible Assets	NOTE 5 Amortizable Intangible Assets Amortizable intangible assets at December 31, 2020 and 2019 consisted of the following: December 31, 2020 December 31, 2019 (in thousands) Gross carrying value Accumulated amortization Net carrying value Weighted average life in years(1) Gross carrying value Accumulated amortization Net carrying value Weighted average life in years(1) Purchased customer accounts $ 2,164,968 $ (1,118,316 ) $ 1,046,652 15.0 $ 1,925,326 $ (1,011,574 ) $ 913,752 15.0 Non-compete agreements 35,093 (32,085 ) 3,008 4.6 33,881 (30,865 ) 3,016 4.6 Total $ 2,200,061 $ (1,150,401 ) $ 1,049,660 $ 1,959,207 $ (1,042,439 ) $ 916,768 (1) Weighted average life calculated as of the date of acquisition. Amortization expense for amortizable intangible assets for the years ending December 31, 2021, 2022, 2023, 2024 and 2025 is estimated to be $113.8 million, $109.4 million, $102.4 million, $98.5 million and $96.1 million, respectively.

Investments

Investments	12 Months Ended
	Dec. 31, 2020
Investments Debt And Equity Securities [Abstract]
Investments	NOTE 6 Investments At December 31, 2020, the Company’s amortized cost and fair values of fixed maturity securities are summarized as follows: (in thousands) Cost Gross unrealized gains Gross unrealized losses Fair value U.S. Treasury securities, obligations of U.S. Government agencies and Municipalities $ 28,372 $ 464 $ (5 ) $ 28,831 Corporate debt 7,190 239 (6 ) 7,423 Total $ 35,562 $ 703 $ (11 ) $ 36,254 At December 31, 2020, the Company held $28.8 million in fixed income securities composed of U.S Treasury securities, securities issued by U.S. Government agencies and municipalities, and $7.4 million issued by corporations with investment-grade ratings. Of the total, $11.3 million is classified as short-term investments on the Consolidated Balance Sheets as maturities are less than one year in duration. Additionally, the Company holds $7.0 million in short-term investments, which are related to time deposits held with various financial institutions. For securities in a loss position, the following table shows the investments’ gross unrealized loss and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2020: Less than 12 Months 12 Months or More Total (in thousands) Fair value Unrealized losses Fair value Unrealized losses Fair value Unrealized losses U.S. Treasury securities, obligations of U.S. Government agencies and Municipalities $ 1,995 $ (5 ) $ — $ — $ 1,995 $ (5 ) Corporate debt 808 (6 ) — — 808 (6 ) Total $ 2,803 $ (11 ) $ — $ — $ 2,803 $ (11 ) The unrealized losses from corporate issuers were caused by interest rate increases. At December 31, 2020, the Company had 3 securities in an unrealized loss position. The corporate securities are highly rated securities with no indicators of potential impairment. Based upon the ability and intent of the Company to hold these investments until recovery of fair value, which may be maturity, the bonds were not considered to be other-than-temporarily impaired at December 31, 2020. At December 31, 2019, the Company’s amortized cost and fair values of fixed maturity securities are summarized as follows: (in thousands) Cost Gross unrealized gains Gross unrealized losses Fair value U.S. Treasury securities, obligations of U.S. Government agencies and Municipalities $ 26,487 $ 174 $ (39 ) $ 26,622 Corporate debt 5,324 68 (8 ) 5,384 Total $ 31,811 $ 242 $ (47 ) $ 32,006 The following table shows the investments’ gross unrealized loss and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2019: Less than 12 Months 12 Months or More Total (in thousands) Fair value Unrealized losses Fair value Unrealized losses Fair value Unrealized losses U.S. Treasury securities, obligations of U.S. Government agencies and Municipalities $ — $ — $ 7,053 $ (39 ) $ 7,053 $ (39 ) Corporate debt — — 998 (8 ) 998 (8 ) Total $ — $ — $ 8,051 $ (47 ) $ 8,051 $ (47 ) The unrealized losses in the Company’s investments in U.S. Treasury Securities and obligations of U.S. Government Agencies and bonds from corporate issuers were caused by interest rate increases. At December 31, 2019, the Company had 10 securities in an unrealized loss position. The contractual cash flows of the U.S. Treasury Securities and obligations of the U.S. Government agencies investments are either guaranteed by the U.S. Government or an agency of the U.S. Government. Accordingly, it is expected that the securities would not be settled at a price less than the amortized cost of the Company’s investment. The corporate securities are highly rated securities with no indicators of potential impairment. Based upon the ability and intent of the Company to hold these investments until recovery of fair value, which may be maturity, the bonds were not considered to be other-than-temporarily impaired at December 31, 2019. The amortized cost and estimated fair value of the fixed maturity securities at December 31, 2020 by contractual maturity are set forth below: (in thousands) Amortized cost Fair value Years to maturity: Due in one year or less $ 11,214 $ 11,283 Due after one year through five years 23,348 23,976 Due after five years through ten years 1,000 995 Total $ 35,562 $ 36,254 The amortized cost and estimated fair value of the fixed maturity securities at December 31, 2019 by contractual maturity are set forth below: (in thousands) Amortized cost Fair value Years to maturity: Due in one year or less $ 4,616 $ 4,628 Due after one year through five years 27,195 27,378 Due after five years through ten years — — Total $ 31,811 $ 32,006 The expected maturities in the foregoing table may differ from the contractual maturities because certain borrowers have the right to call or prepay obligations with or without penalty. Proceeds from the sales and maturity of the Company’s investment in fixed maturity securities were $8.6 million. This along with maturing time deposits yielded total cash proceeds from the sale of investments of $11.0 million in the period of January 1, 2020 to December 31, 2020. These proceeds, along with other sources of cash were used to purchase an additional $14.2 million of fixed maturity securities and to fund certain general corporate purposes. The gains and losses realized on those sales for the period from January 1, 2020 to December 31, 2020 were insignificant. Proceeds from the sales and maturity of the Company’s investment in fixed maturity securities were $5.8 million for the year ended December 31, 2019. This along with maturing time deposits yielded total cash proceeds from the sale of investments of $8.5 million in the period of January 1, 2019 to December 31, 2019. These proceeds were used to purchase an additional $17.5 million of fixed maturity securities and to fund certain general corporate purposes. The gains and losses realized on those sales for the period from January 1, 2019 to December 31, 2019 were insignificant. Realized gains and losses are reported on the Consolidated Statement of Income, with the cost of securities sold determined on a specific identification basis. At December 31, 2020, investments with a fair value of approximately $4.2 million were on deposit with state insurance departments to satisfy regulatory requirements.

Fixed Assets

Fixed Assets	12 Months Ended
	Dec. 31, 2020
Property Plant And Equipment [Abstract]
Fixed Assets	NOTE 7 Fixed Assets Fixed assets at December 31 consisted of the following: (in thousands) 2020 2019 Furniture, fixtures and equipment $ 259,524 $ 231,005 Leasehold improvements 42,261 42,485 Construction in progress 81,736 38,035 Land, buildings and improvements 8,428 8,400 Total cost 391,949 319,925 Less accumulated depreciation and amortization (190,834 ) (171,298 ) Total $ 201,115 $ 148,627 Depreciation expense for fixed assets amounted to $26.3 million in 2020, $23.4 million in 2019 and $22.8 million in 2018. Construction in progress primarily reflects expenditures related to the construction of the new headquarters in Daytona Beach, Florida which was subsequently placed into service in January of 2021.

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	12 Months Ended
	Dec. 31, 2020
Payables And Accruals [Abstract]
Accrued Expenses and Other Liabilities	NOTE 8 Accrued Expenses and Other Liabilities Accrued expenses and other current liabilities at December 31 consisted of the following: (in thousands) 2020 2019 Accrued incentive compensation $ 159,356 $ 144,475 Accrued compensation and benefits 41,550 60,260 Lease liability (1) 43,542 43,415 Deferred revenue 53,956 41,180 Reserve for policy cancellations 31,081 18,353 Accrued interest 15,260 10,984 Accrued rent and vendor expenses 6,682 7,422 Other 20,310 11,628 Total $ 371,737 $ 337,717 (1) The Lease liability is the current portion of the Operating lease liabilities as reflected in the Consolidated Balance Sheets as of December 31, 2020 and 2019.

Long-Term Debt

Long-Term Debt	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Long-Term Debt	NOTE 9 Long-Term Debt Long-term debt at December 31, 2020 and 2019 consisted of the following: (in thousands) December 31, 2020 December 31, 2019 Current portion of long-term debt: Current portion of 5-year $ 40,000 $ 40,000 Current portion of 5-year expires 2023 30,000 15,000 Total current portion of long-term debt 70,000 55,000 Long-term debt: Note agreements: 4.200% Senior Notes, semi-annual interest payments, balloon due 2024 499,416 499,259 4.500% Senior Notes, semi-annual interest payments, balloon due 2029 349,540 349,484 2.375% Senior Note due 2031, semi-annual interest payments, balloon due 2031 699,252 — Total notes 1,548,208 848,743 Credit agreements: 5-year payments, LIBOR plus up to 1.750%, expires June 28, 2022 250,000 290,000 5-year currently LIBOR plus up to 1.500%, plus commitment fees up to 0.250%, expires June 28, 2022 — 100,000 5-year payments, LIBOR plus up to 1.750%, expires December 21, 2023 240,000 270,000 Total credit agreements 490,000 660,000 Debt issuance costs (contra) (12,302 ) (8,400 ) Total long-term debt less unamortized discount and debt issuance costs 2,025,906 1,500,343 Current portion of long-term debt 70,000 55,000 Total debt $ 2,095,906 $ 1,555,343 On June 28, 2017, the Company entered into an amended and restated credit agreement (the “Amended and Restated Credit Agreement”) with the lenders named therein, JPMorgan Chase Bank, N.A. as administrative agent and certain other banks as co-syndication agents and co-documentation agents. The Amended and Restated Credit Agreement amended and restated the credit agreement dated April 17, 2014, among such parties (the “Original Credit Agreement”). The Amended and Restated Credit Agreement extends the applicable maturity date of the existing revolving credit facility (the “Revolving Credit Facility”) of $800.0 million to June 28, 2022 and re-evidences unsecured term loans at $400.0 million On September 18, 2014, the Company issued $500.0 million of 4.200% unsecured Senior Notes due in 2024. The Senior Notes were given investment grade ratings of BBB-/Baa3 with a stable outlook. The notes are subject to certain covenant restrictions and regulations which are customary for credit rated obligations. At the time of funding, the proceeds were offered at a discount of the original note amount which also excluded an underwriting fee discount. The net proceeds received from the issuance were used to repay the outstanding balance of $475.0 million on the Revolving Credit Facility and for other general corporate purposes. As of December 31, 2020 and December 31, 2019, there was an outstanding debt balance of $500.0 million exclusive of the associated discount balance. On December 21, 2018, the Company entered into a term loan credit agreement (the “Term Loan Credit Agreement”) with the lenders named therein, Wells Fargo Bank, National Association, as administrative agent, and certain other banks as co-syndication agents and as joint lead arrangers and joint bookrunners. The Term Loan Credit Agreement provides for an unsecured term loan in the initial amount of $300.0 million, which may, subject to lenders’ discretion, potentially be increased up to an aggregate amount of $450.0 million (the “Term Loan”). The Term Loan is repayable over the five-year On March 11, 2019, the Company completed the issuance of $350.0 million aggregate principal amount of the Company's 4.500% Senior Notes due 2029. The Senior Notes were given investment grade ratings of BBB-/Baa3 with a stable outlook. The notes are subject to certain covenant restrictions, which are customary for credit rated obligations. At the time of funding, the proceeds were offered at a discount of the original note amount, which also excluded an underwriting fee discount. The net proceeds received from the issuance were used to repay a portion of the outstanding balance of $350.0 million on the Revolving Credit Facility, utilized in connection with the financing related to our acquisition of Hays and for other general corporate purposes. As of December 31, 2020, and December 31, 2019 there was an outstanding debt balance of $350.0 million exclusive of the associated discount balance. On September 24, 2020, the Company completed the issuance of $700.0 million aggregate principal amount of the Company's 2.375% Senior Notes due 2031. The Senior Notes were given investment grade ratings of BBB- stable outlook and Baa3 positive outlook. The notes are subject to certain covenant restrictions, which are customary for credit rated obligations. At the time of funding, the proceeds were offered at a discount of the original note amount, which also excluded an underwriting fee discount. The net proceeds received from the issuance were used to repay a portion of the outstanding balance of $200.0 million on the Revolving Credit Facility, utilized in connection with the financing related to the acquisitions of LP Insurance Services, LLP and CKP Insurance, LLC and for other general corporate purposes. As of December 31, 2020, there was an outstanding debt balance of $700.0 million exclusive of the associated discount balance. The Amended and Restated Credit Agreement and Term Loan Credit Agreement require the Company to maintain certain financial ratios and comply with certain other covenants. The Company was in compliance with all such covenants as of December 31, 2020 and December 31, 2019. The 30-day Adjusted LIBOR Rate for the term loan of the Amended and Restated Credit Agreement and Term Loan Credit Agreement as of December 31, 2020 was Interest paid in 2020, 2019 and 2018 was $52.4 million, $58.3 million, and $38.0 million, respectively. At December 31, 2020, maturities of long-term debt were $70.0 million in 2021, $280.0 million in 2022, $210.0 million in 2023, $500.0 million in 2024, $350.0 million in 2029 and $700.0 million in 2031.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 10 Income Taxes On December 22, 2017, the U.S. government enacted the Tax Cuts and Jobs Act of 2017 (the “Tax Reform Act”). The Tax Reform Act makes changes to the U.S. tax code that affected our income tax rate in 2017. The Tax Reform Act reduces the U.S. federal corporate income tax rate from 35.0% to 21.0% and requires companies to pay a one-time transition tax on certain unrepatriated earnings from foreign subsidiaries. The Tax Reform Act also establishes new tax laws that became effective January 1, 2018. ASC 740 requires a company to record the effects of a tax law change in the period of enactment, however, shortly after the enactment of the Tax Reform Act, the SEC staff issued SAB 118, which allows a company to record a provisional amount when it does not have the necessary information available, prepared, or analyzed in reasonable detail to complete its accounting for the change in the tax law. The measurement period ends when the company has obtained, prepared and analyzed the information necessary to finalize its accounting, but cannot extend beyond one year. For 2017, we made a reasonable estimate of the impact of the Tax Reform Act and recorded a one-time credit in our 2017 income tax expense of $120.9 million, which reflects an estimated reduction in our deferred income tax liabilities of $124.2 million as a result of the maximum federal rate decreasing to 21.0% from 35.0%, which was partially offset by an estimated increase in income tax payable in the amount of $3.3 million as a result of the transition tax on cash and cash equivalent balances related to untaxed accumulated earnings associated with our international operations. During 2018, we made a credit adjustment to the transition tax on untaxed international operations in the amount of $1.6 million. This adjustment was a reduction of income tax expense for 2018 as a result of updated calculations based on the Company’s tax filings for the 2017 year end. As of December 31, 2020, management does not expect any further changes to the amounts previously recorded and adjusted under SAB 118. Significant components of the provision for income taxes for the years ended December 31 are as follows: (in thousands) 2020 2019 2018 Current: Federal $ 93,620 $ 85,507 $ 77,694 State 34,123 28,905 25,096 Foreign 325 620 409 Total current provision 128,068 115,032 103,199 Deferred: Federal 11,655 14,994 8,483 State 4,119 (2,587 ) 6,519 Foreign (226 ) (24 ) 6 Total deferred provision 15,548 12,383 15,008 Total tax provision $ 143,616 $ 127,415 $ 118,207 A reconciliation of the differences between the effective tax rate and the federal statutory tax rate for the years ended December 31 is as follows: 2020 2019 2018 Federal statutory tax rate 21.0 % 21.0 % 21.0 % State income taxes, net of federal income tax benefit 5.3 3.8 5.7 Non-deductible employee stock purchase plan expense 0.3 0.3 0.2 Non-deductible meals and entertainment 0.1 0.3 0.3 Non-deductible officers’ compensation 0.3 0.2 0.3 Tax Reform Act deferred tax revaluation and transition tax impact 0.0 0.0 (0.3 ) Stock Vesting under ASU 2016-19 (3.5 ) (1.1 ) (1.4 ) Other, net (0.5 ) (0.3 ) (0.2 ) Effective tax rate 23.0 % 24.2 % 25.6 % Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the corresponding amounts used for income tax reporting purposes. Significant components of the Company’s net deferred tax liabilities as of December 31 are as follows: (in thousands) 2020 2019 Non-current deferred tax liabilities: Intangible assets $ 400,335 $ 360,660 Fixed assets 11,740 10,325 ASC 842 ROU Asset 46,730 46,188 Impact of adoption of ASC 606 revenue recognition 19,928 24,687 Net unrealized holding (loss)/gain on available-for-sale securities 176 36 Total non-current deferred tax liabilities 478,909 441,896 Non-current deferred tax assets: Deferred compensation 59,897 52,566 Accruals and reserves 19,497 7,743 ASC 842 lease liabilities 53,150 52,185 Net operating loss carryforwards and 163(j) disallowed carryforwards 3,168 2,377 Valuation allowance for deferred tax assets (1,025 ) (1,252 ) Total non-current deferred tax assets 134,687 113,619 Net non-current deferred tax liability $ 344,222 $ 328,277 Income taxes paid in 2020, 2019 and 2018 were $132.9 million, $110.0 million and $110.6 million, respectively. At December 31, 2020, the Company had no net operating loss carryforwards for federal purposes and $36.0 million net operating loss carryforwards for state income tax reporting purposes, portions of which expire in the years 2021 through indefinite. The state carryforward amount is derived from the operating results of certain subsidiaries. As of December 31, 2020, the Company had a net operating loss carryforward in Canada of $6.4 million. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: (in thousands) 2020 2019 2018 Unrecognized tax benefits balance at January 1 $ 1,127 $ 1,639 $ 1,694 Gross increases for tax positions of prior years 848 778 594 Gross decreases for tax positions of prior years (708 ) (791 ) (5 ) Settlements — (499 ) (644 ) Unrecognized tax benefits balance at December 31 $ 1,267 $ 1,127 $ 1,639 The Company recognizes interest and penalties related to uncertain tax positions in income tax expense. As of December 31, 2020, 2019 and 2018 the Company had $0.3 million, $0.2 million and $0.2 million of accrued interest and penalties related to uncertain tax positions, respectively. The total amount of unrecognized tax benefits that would affect the Company’s effective tax rate if recognized was $1.3 million as of December 31, 2020, $1.1 million as of December 31, 2019 and $1.6 million as of December 31, 2018. The Company does not expect its unrecognized tax benefits to change significantly over the next 12 months. The Company is subject to taxation in the United States and various state jurisdictions. The Company is also subject to taxation in the United Kingdom and Canada. In the United States, federal returns for fiscal years 2016 through 2020 remain open and subject to examination by the Internal Revenue Service. The Company files and remits state income taxes in various states where the Company has determined it is required to file state income taxes. The Company’s filings with those states remain open for audit for the fiscal years 2016 through 2020. In the United Kingdom, the Company’s filings remain open for audit for the fiscal years 2019 and 2020. In Canada, the Company’s filings remain open for audit for the fiscal years 2016 through 2020. The Company also operates in Bermuda and the Cayman Islands. The Company is not subject to any income taxes in these countries. During 2018, the Company settled the previously disclosed State of Massachusetts income tax audit for the fiscal year 2013 through 2014. During 2019, the Company settled the previously disclosed State of Colorado income tax audit for the fiscal years 2013-2016, the State of Kansas income tax audit for the fiscal years 2014-2016, and the State of New York income tax audit for the fiscal years 2015-2017. The Company is currently under audit in the states of California, Illinois, Massachusetts and Wisconsin for the fiscal years 2015 through 2017. In addition, the Company is under audit in the state of Wisconsin for the fiscal year 2018. In general, it is our practice and intention to reinvest the earnings of our non-U.S. subsidiaries in those operations. The Company has determined it is not practical to determine the unrecognized deferred tax liabilities on the undistributed earnings from the Company’s international subsidiaries as such earnings are considered to be indefinitely reinvested .

Employee Savings Plan

Employee Savings Plan	12 Months Ended
	Dec. 31, 2020
Employee Savings Plan [Abstract]
Employee Savings Plan	NOTE 11 Employee Savings Plan The Company has an Employee Savings Plan (401(k)) in which substantially all employees with more than 30 days of service are eligible to participate. Under this plan, the Company makes matching contributions of up to 4.0% of each participant’s annual compensation. The Company’s contribution expense to the plan totaled $31.2 million in 2020, $22.8 million in 2019 and $22.8 million in 2018.

Stock Based Compensation

Stock Based Compensation	12 Months Ended
	Dec. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock Based Compensation	NOTE 12 Stock-Based Compensation Performance Stock Plan In 1996, the Company adopted and the shareholders approved a performance stock plan, under which until the suspension of the plan in 2010, up to 28,800,000 Performance Stock Plan (“PSP”) shares could be granted to key employees contingent on the employees’ future years of service with the Company and other performance-based criteria established by the Compensation Committee of the Company’s Board of Directors. Before participants may take full title to Performance Stock, two vesting conditions must be met. Of the grants currently outstanding, specified portions satisfied the first condition for vesting based upon 20% incremental increases in the 20-trading-day average stock price of Brown & Brown’s common stock from the price on the business day prior to date of grant. Performance Stock that has satisfied the first vesting condition is considered “awarded shares.” Awarded shares are included as issued and outstanding common stock shares and are included in the calculation of basic and diluted net income per share. Dividends are paid on awarded shares and participants may exercise voting privileges on such shares. Awarded shares satisfy the second condition for vesting on the earlier of a participant’s: (i) 15 years of continuous employment with Brown & Brown from the date shares are granted to the participants (or, in the case of the July 2009 grant to Powell Brown, 20 years), (ii) attainment of age 64 (on a prorated basis corresponding to the number of years since the date of grant), or (iii) death or disability. On April 28, 2010, the PSP was suspended and any remaining authorized, but unissued shares, as well as any shares forfeited in the future, were reserved for issuance under the 2010 Stock Incentive Plan (the “2010 SIP”). At December 31, 2020, 10,217,232 shares had been granted, net of forfeitures, under the PSP. As of December 31, 2020, 909,828 shares had met the first condition of vesting and had been awarded, and 9,307,404 shares had satisfied both conditions of vesting and had been distributed to participants. Of the shares that have not vested as of December 31, 2020, the initial stock prices ranged from $8.30 to $10.31. The Company uses a path-dependent lattice model to estimate the fair value of PSP grants on the grant date. A summary of PSP activity for the years ended December 31, 2020, 2019 and 2018 is as follows: Weighted- average grant date fair value Granted shares Awarded shares Shares not yet awarded Outstanding at January 1, 2018 $ 5.16 1,694,476 1,694,476 — Granted $ — — — — Awarded $ — — — — Vested $ 5.53 (453,860 ) (453,860 ) — Forfeited $ 4.92 (44,524 ) (44,524 ) — Outstanding at December 31, 2018 $ 5.03 1,196,092 1,196,092 — Granted $ — — — — Awarded $ — — — — Vested $ 5.29 (115,040 ) (115,040 ) — Forfeited $ 4.74 (29,760 ) (29,760 ) — Outstanding at December 31, 2019 $ 5.00 1,051,292 1,051,292 — Granted $ — — — — Awarded $ — — — — Vested $ 6.06 (119,072 ) (119,072 ) — Forfeited $ 5.03 (22,392 ) (22,392 ) — Outstanding at December 31, 2020 $ 4.86 909,828 909,828 — The total fair value of PSP grants that vested during each of the years ended December 31, 2020, 2019 and 2018 was $5.0 million, $3.5 million and $11.9 million, respectively. Stock Incentive Plan s On April 28, 2010, the shareholders of the Company, Inc. approved the 2010 Stock Incentive Plan (“2010 SIP”), which was suspended on May 1, 2019. On May 1, 2019, the shareholders of the Company, Inc. approved the 2019 Stock Incentive Plan (“2019 SIP”) that provides for the granting of restricted stock, restricted stock units, stock options, stock appreciation rights, and other stock-based awards to employees and directors contingent on performance-based and/or time-based criteria established by the Compensation Committee of the Company’s Board of Directors. In addition, the 2019 SIP provides for a limited delegation of authority of the Company’s Chief Executive Officer to grant awards to individuals who are not subject to Section 16 of the Securities Exchange Act of 1934. The principal purpose of the 2019 SIP is to attract, incentivize and retain key employees by offering those persons an opportunity to acquire or increase a direct proprietary interest in the Company’s operations and future success. The number of shares of stock reserved for issuance under the 2019 SIP is 2,283,475 shares, plus any shares that are authorized for issuance under the 2010 SIP (described below), and not already subject to grants under the 2010 SIP, and that were outstanding as of May 1, 2019, the date of suspension of the 2010 SIP, together with PSP shares, 2010 SIP shares and 2019 SIP shares forfeited after that date. As of May 1, 2019, 6,957,897 shares were available for issuance under the 2010 SIP, which were then transferred to the 2019 SIP. The Company has granted stock to our employees in the form of Restricted Stock Awards and Performance Stock Awards under the 2010 SIP and 2019 SIP. To date, a substantial majority of stock grants to employees under these plans vest in five to ten years. The Performance Stock Awards are subject to the achievement of certain performance criteria by grantees, which may include growth in a defined book of business, Organic Revenue growth and operating profit growth of a profit center, Organic Revenue growth of the Company and consolidated diluted net income per share growth at certain levels of the Company. The performance measurement period ranges from three to five years. Beginning in 2016, certain Performance Stock Awards have a payout range between 0% to 200% depending on the achievement against the stated performance target. Prior to 2016, the majority of the grants had a binary performance measurement criteria that only allowed for 0% or 100% payout. Non-employee members of the Board of Directors received shares annually issued pursuant to the 2010 SIP and 2019 SIP as part of their annual compensation. A total of 26,620 shares were issued in January 2018, 27,885 shares were issued in April 2019 and 16,490 shares were issued in May 2020. The Company uses the closing stock price on the day prior to the grant date to determine the fair value of grants under the 2010 SIP and 2019 SIP and then applies an estimated forfeiture factor to estimate the annual expense. Additionally, the Company uses the path-dependent lattice model to estimate the fair value of grants with PSP-type vesting conditions as of the grant date. SIP shares that satisfied the first vesting condition for PSP-type grants or the established performance criteria are considered awarded shares. Awarded shares are included as issued and outstanding common stock shares and are included in the calculation of basic and diluted net income per share. A summary of 2010 SIP and 2019 SIP activity for the years ended December 31, 2020, 2019 and 2018 is as follows: Weighted- average grant date fair value Granted shares Awarded shares Shares not yet awarded Outstanding at January 1, 2018 $ 15.58 12,821,990 4,809,604 8,012,386 Granted $ 22.87 1,577,721 454,313 1,123,408 (1) Awarded $ 15.89 — 2,489,905 (2,489,905 ) Vested $ 14.09 (933,916 ) (933,916 ) — Forfeited $ 16.37 (2,363,420 ) (224,587 ) (2,138,833 ) Outstanding at December 31, 2018 $ 16.69 11,102,375 6,595,319 4,507,056 Granted $ 28.53 1,812,047 797,778 1,014,269 (2) Awarded $ 17.26 299,339 1,954,983 (1,655,644 ) Vested $ 14.29 (1,068,211 ) (1,068,211 ) — Forfeited $ 19.09 (503,632 ) (209,293 ) (294,339 ) Outstanding at December 31, 2019 $ 18.10 11,641,918 8,070,576 3,571,342 Granted $ 46.58 970,997 148,015 822,982 (3) Awarded $ 19.71 497,082 1,880,512 (1,383,430 ) Vested $ 15.97 (3,059,619 ) (3,059,619 ) — Forfeited $ 20.75 (356,041 ) (119,637 ) (236,404 ) Outstanding at December 31, 2020 $ 19.89 9,694,337 6,919,847 2,774,490 ( 1 ) Of the 1,123,408 shares of performance-based restricted stock granted in 2018, the payout for 576,886 shares may be increased up to 200% of the target or decreased to zero, subject to the level of performance attained. The amount reflected in the table includes all restricted stock grants at a target payout of 100%. ( 2 ) Of the 1,014,269 shares of performance-based restricted stock granted in 2019, the payout for 501,384 shares may be increased up to 200% of the target or decreased to zero, subject to the level of performance attained. The amount reflected in the table includes all restricted stock grants at a target payout of 100%. (3) Of the 822,982 shares of performance-based restricted stock granted in 20 20 , the payout for 365,606 shares may be increased up to 200 % of the target or decreased to zero , 20,611 shares may be increased up to 120 % of the target or decreased to zero , 15,850 shares may be increased up to 150 % of the target or decreased to zero , and 56,226 shares may be increased up to 150 % or decreased to 50 % of target subject to the level of performance attained. The amount reflected in the table includes all restricted stock grants at a target payout of 100 %. The following table sets forth information as of December 31, 2020, 2019 and 2018, with respect to the number of time-based restricted shares granted and awarded, the number of performance-based restricted shares granted, and the number of performance-based restricted shares awarded under our Performance Stock Plan and 2010 and 2019 Stock Incentive Plans: Year Time-based restricted stock granted and awarded Performance-based restricted stock granted Performance-based restricted stock awarded 2020 148,015 822,982 (1) 1,880,512 2019 797,778 1,014,269 (2) 1,954,983 2018 454,313 1,123,408 (3) 2,489,905 (1) Of the 822,982 shares of performance-based restricted stock granted in 2020, the payout for 365,606 shares may be increased up to 200% of the target or decreased to zero, 20,611 shares may be increased up to 120% of the target or decreased to zero, 15,850 shares may be increased up to 150% of the target or decreased to zero, and 56,226 shares may be increased up to 150% or decreased to 50% of target subject to the level of performance attained. The amount reflected in the table includes all restricted stock grants at a target payout of 100%. ( 2 ) Of the 1,014,269 shares of performance-based restricted stock granted in 2019, the payout for 501,384 shares may be increased up to 200% of the target or decreased to zero, subject to the level of performance attained. The amount reflected in the table includes all restricted stock grants at a target payout of 100%. ( 3 ) Of the 1,123,408 shares of performance-based restricted stock granted in 2018, the payout for 576,886 shares may be increased up to 200% of the target or decreased to zero, subject to the level of performance attained. The amount reflected in the table includes all restricted stock grants at a target payout of 100%. At December 31, 2020, 8,624,668 shares were available for future grants under the 2019 SIP. This amount is calculated assuming the maximum payout for all restricted stock grants. Employee Stock Purchase Plan The Company has a shareholder-approved Employee Stock Purchase Plan (“ESPP”) with a total of 34,000,000 authorized shares of which 5,378,467 were available for future subscriptions as of December 31, 2020. Employees of the Company who regularly work 20 hours or more per week are eligible to participate in the ESPP. Participants, through payroll deductions, may allot up to 10% of their compensation towards the purchase of a maximum of $25,000 worth of Company stock between August 1st of each year and the following July 31st (the “Subscription Period”) at a cost of 85% of the lower of the stock price as of the beginning or end of the Subscription Period. The Company estimates the fair value of an ESPP share option as of the beginning of the Subscription Period as the sum of: (1) 15% of the quoted market price of the Company’s stock on the day prior to the beginning of the Subscription Period, and (2) 85% of the value of a one-year stock option on the Company stock using the Black-Scholes option-pricing model. The estimated fair value of an ESPP share option as of the Subscription Period beginning in August 2020 was $12.43. The fair values of an ESPP share option as of the Subscription Periods beginning in August 2019 and 2018, were $7.46 and $5.88, respectively. For the ESPP plan years ended July 31, 2020, 2019 and 2018, the Company issued 962,131, 976,303 and 985,601 shares of common stock, respectively. These shares were issued at an aggregate purchase price of $29.3 million, or $30.51 per share, in 2020, $24.0 million, or $24.63 per share, in 2019, and $18.7 million, or $18.96 per share, in 2018. For the five months ended December 31, 2020, 2019 and 2018 (portions of the 2020-2021, 2019-2020, and 2018-2019 plan years), 381,371, 419,446 and 402,349 shares of common stock (from authorized but unissued shares), respectively, were subscribed to by ESPP participants for proceeds of approximately $14.8 million, $12.8 million and $9.9 million, respectively. Summary of Non-Cash Stock-Based Compensation Expense The non-cash stock-based compensation expense for the years ended December 31 is as follows: (in thousands) 2020 2019 2018 Stock incentive plan $ 50,198 $ 39,626 $ 28,027 Employee stock purchase plan 8,789 6,504 4,744 Performance stock plan 762 864 748 Total $ 59,749 $ 46,994 $ 33,519 Summary of Unamortized Compensation Expense As of December 31, 2020, the Company estimates there to be $112.6 million of unamortized compensation expense related to all non-vested stock-based compensation arrangements granted under the Company’s stock-based compensation plans, based upon current projections of grant measurement against performance criteria. That expense is expected to be recognized over a weighted average period of 3.29 years.

Supplemental Disclosures of Cas

Supplemental Disclosures of Cash Flow Information and Non-Cash Financing and Investing Activities	12 Months Ended
	Dec. 31, 2020
Supplemental Cash Flow Elements [Abstract]
Supplemental Disclosures of Cash Flow Information and Non-Cash Financing and Investing Activities	NOTE 13 Supplemental Disclosures of Cash Flow Information and Non-Cash Financing and Investing Activities The Company’s cash paid during the period for interest and income taxes are summarized as follows: Year Ended December 31, (in thousands) 2020 2019 2018 Cash paid during the period for: Interest $ 52,378 $ 58,290 $ 38,032 Income taxes, net of refunds $ 131,596 $ 109,766 $ 110,350 The Company’s significant non-cash investing and financing activities are summarized as follows: Year Ended December 31, (in thousands) 2020 2019 2018 Other payables issued for purchased customer accounts $ 9,130 $ 12,135 $ 5,462 Estimated acquisition earn-out payables and related charges $ 131,397 $ 82,872 $ 77,378 Notes received on the sale of fixed assets and customer accounts $ — $ 9,903 $ 52 Our Restricted Cash balance is composed of funds held in separate premium trust accounts as required by state law or, in some cases, per agreement with our carrier partners. The following is a reconciliation of cash and cash equivalents inclusive of restricted cash as of December 31, 2020, 2019 and 2018. Balance as of December 31, (in thousands) 2020 2019 2018 Table to reconcile cash and cash equivalents inclusive of restricted cash Cash and cash equivalents $ 817,398 $ 542,174 $ 438,961 Restricted cash 454,517 420,801 338,635 Total cash and cash equivalents inclusive of restricted cash at the end of the period $ 1,271,915 $ 962,975 $ 777,596

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 14 Commitments and Contingencies Legal Proceedings The Company records losses for claims in excess of the limits of, or outside the coverage of, applicable insurance at the time and to the extent they are probable and estimable. In accordance with ASC Topic 450- Contingencies The Company’s accruals for legal matters that were probable and estimable were not material at December 31, 2020 and 2019 . We continue to assess certain litigation and claims to determine the amounts, if any, that management believes will be paid as a result of such claims and litigation and, therefore, additional losses may be accrued and paid in the future, which could adversely impact the Company’s operating results, cash flows and overall liquidity. The Company maintains third-party insurance policies to provide coverage for certain legal claims, in an effort to mitigate its overall exposure to unanticipated claims or adverse decisions. However, as (i) one or more of the Company’s insurance carriers could take the position that portions of these claims are not covered by the Company’s insurance, (ii) to the extent that payments are made to resolve claims and lawsuits, applicable insurance policy limits are eroded and (iii) the claims and lawsuits relating to these matters are continuing to develop, it is possible that future results of operations or cash flows for any particular quarterly or annual period could be materially affected by unfavorable resolutions of these matters. Based upon the AM Best Company ratings of these third-party insurers, management does not believe there is a substantial risk of an insurer’s material non-performance related to any current insured claims. On the basis of current information, the availability of insurance and legal advice, in management’s opinion, the Company is not currently involved in any legal proceedings which, individually or in the aggregate, would have a material adverse effect on its financial condition, operations and/or cash flows.

Leases

Leases	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Leases	NOTE 15 Leases Substantially all of the Company's leases are classified as operating leases and primarily represent real estate leases for office space used to conduct the Company's business that expire on various dates through 2041. Leases generally contain renewal options and escalation clauses based upon increases in the lessors’ operating expenses and other charges. The Company anticipates that most of these leases will be renewed or replaced upon expiration. The Company assesses at inception of a contract if it contains a lease. This assessment is based on: (1) whether the contract involves the use of a distinct identified asset, (2) whether the Company obtains the right to substantially all the economic benefit from the use of the asset throughout the period, and (3) whether the Company has the right to direct the use of the asset. The right-of-use asset is initially measured at cost, which is primarily composed of the initial lease liability, plus any initial direct costs incurred, less any lease incentives received. The lease liability is initially measured at the present value of the minimum lease payments through the term of the lease. Minimum lease payments are discounted to present value using the incremental borrowing rate at the lease commencement date, which approximates the rate of interest the Company expects to be paid on a secured borrowing in an amount equal to the lease payments for the underlying asset under similar terms and economic conditions. The Company elected not to recognize right-of-use assets and lease liabilities for short-term leases that have a total term of 12 months or less. The effect of short-term leases on the Company’s right-of-use asset and lease liability would not be significant. The balances and classification of operating lease right-of-use assets and operating lease liabilities within the Condensed Consolidated Balance Sheets as of December 31, 2020 and 2019 is as follows: (in thousands) December 31, 2020 December 31, 2019 Balance Sheet Assets: Operating lease right-of-use assets 186,998 184,288 Total assets Operating lease assets $ 186,998 $ 184,288 Liabilities: Current operating lease liabilities Accrued expenses and other liabilities 43,542 43,415 Non-current operating lease liabilities Operating lease liabilities 172,935 167,855 Total liabilities $ 216,477 $ 211,270 As of December 31, 2020, the Company has entered into future lease agreements expected to commence in 2021 consisting of undiscounted lease liabilities of $5.0 million. The expense recognition for operating leases under Topic 842 is substantially consistent with Topic 840. Therefore, there was no significant impact to Company’s results of operations presented in the Company’s Condensed Consolidated Statements of Income as a result of adopting ASU 2016-02 in the first quarter of 2019. Variable lease cost is lease payments that are based on an index or similar rate. They are initially measured using the index or rate in effect at lease commencement and are based on the minimum payments stated in the lease. Additional payments based on the change in an index or rate, or payments based on a change in the Company's portion of the operating expenses, including real estate taxes and insurance, are recorded as a period expense when incurred. Lease expense for operating leases consists of the lease payments, inclusive of lease incentives, plus any initial direct costs, and is recognized on a straight-line basis over the lease term. Included in lease expense are any variable lease payments incurred in the period that were not included in the initial lease liability. Variable lease cost is lease payments that are based on an index or similar rate. They are initially measured using the index or rate in effect at lease commencement and are based on the minimum payments stated in the lease. Additional payments based on the change in an index or rate, or payments based on a change in the Company's portion of the operating expenses, including real estate taxes and insurance, are recorded as a period expense when incurred. The components of lease cost for operating leases for the 12 months ended December 31, 2020 and 2019 were: (in thousands) Twelve Months Ended December 31, 2020 Twelve Months Ended December 31, 2019 Operating leases: Lease cost $ 53,821 $ 49,872 Variable lease cost 3,739 3,819 Short term lease cost 468 267 Operating lease cost $ 58,028 $ 53,958 Sublease income (1,798 ) (1,386 ) Total lease cost net $ 56,230 $ 52,572 The weighted average remaining lease term and the weighted average discount rate for operating leases as of December 31, 2020 were: Weighted-average remaining lease term 5.94 Weighted-average discount rate 3.32 Maturities of the operating lease liabilities by fiscal year at December 31, 2020 for the Company's operating leases are as follows: (in thousands) Operating Leases 2021 $ 49,923 2022 46,447 2023 39,251 2024 31,033 2025 22,921 Thereafter 49,687 Total undiscounted lease payments 239,262 Less: Imputed interest 22,785 Present value of future lease payments $ 216,477 Supplemental cash flow information for operating leases: (in thousands) Twelve months ended December 31, 2020 Twelve months ended December 31, 2019 Cash paid for amounts included in measurement of liabilities Operating cash flows from operating leases $ 54,946 $ 51,894 Right-of-use assets obtained in exchange for new operating liabilities $ 45,750 $ 46,730

Quarterly Operating Results (Un

Quarterly Operating Results (Unaudited)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Quarterly Operating Results (Unaudited)	NOTE 16 Quarterly Operating Results (Unaudited) Quarterly operating results for 2020 and 2019 were as follows: (in thousands, except per share data) First Quarter Second Quarter Third Quarter Fourth Quarter 2020 Total revenues $ 698,495 $ 598,806 $ 673,962 $ 642,111 Total expenses $ 493,242 $ 469,405 $ 515,434 $ 511,195 Income before income taxes $ 205,253 $ 129,401 $ 158,528 $ 130,916 Net income $ 152,400 $ 96,784 $ 133,979 $ 97,320 Net income per share: Basic $ 0.54 $ 0.34 $ 0.47 $ 0.34 Diluted $ 0.54 $ 0.34 $ 0.47 $ 0.34 2019 Total revenues $ 619,280 $ 575,219 $ 618,683 $ 578,989 Total expenses $ 470,760 $ 451,697 $ 466,845 $ 476,940 Income before income taxes $ 148,520 $ 123,522 $ 151,838 $ 102,049 Net income $ 113,896 $ 92,593 $ 115,506 $ 76,519 Net income per share: Basic $ 0.41 $ 0.33 $ 0.41 $ 0.27 Diluted $ 0.40 $ 0.33 $ 0.41 $ 0.27 Quarterly financial results are affected by seasonal variations. The timing of insurance policy renewals sold by the Company and acquisitions may cause revenues, expenses, and net income to vary significantly between quarters. The sum of the quarterly results may not equal year to date or year ended results due to rounding.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Segment Information	NOTE 17 Segment Information Brown & Brown’s business is divided into four reportable segments: (1) the Retail Segment, which provides a broad range of insurance products and services to commercial, public and quasi-public entities, and to professional and individual customers, and non-insurance risk-mitigating products through our automobile dealer services (“F&I”) businesses, (2) the National Programs Segment, which acts as an MGA, provides professional liability and related package products for certain professionals, a range of insurance products for individuals, flood coverage, and targeted products and services designated for specific industries, trade groups, governmental entities and market niches, all of which are delivered through nationwide networks of independent agents, and Brown & Brown retail agents, (3) the Wholesale Brokerage Segment, which markets and sells excess and surplus commercial and personal lines insurance, primarily through independent agents and brokers, as well as Brown & Brown retail agents, and (4) the Services Segment, which provides insurance-related services, including third-party claims administration and comprehensive medical utilization management services in both the workers’ compensation and all-lines liability arenas, as well as Medicare Set-aside services, Social Security disability and Medicare benefits advocacy services and claims adjusting services. Brown & Brown conducts all of its operations within the United States of America, except for a wholesale brokerage operation based in London, England, retail operations in Bermuda and the Cayman Islands, and a national programs operation in Canada. These operations earned $35.1 million, $17.7 million and $15.2 million of total revenues for the years ended December 31, 2020, 2019 and 2018, respectively. Long-lived assets held outside of the United States during each of these three years were not material. The accounting policies of the reportable segments are the same as those described in Note 1. The Company evaluates the performance of its segments based upon revenues and income before income taxes. Inter-segment revenues are eliminated. Summarized financial information concerning the Company’s reportable segments is shown in the following table. The “Other” column includes any income and expenses not allocated to reportable segments and corporate-related items, including the intercompany interest expense charge to the reporting segment. In addition, the total assets balance in “Other” is negative, reflecting the historical accumulation of the purchase price for acquisitions which are funded at the Corporate level, net of a portion returned to Corporate through intercompany interest charges, as well as the historical accumulation of payments for income taxes, dividends, and share repurchases which are paid by Corporate, but not pushed down to the segments. Year Ended December 31, 2020 (in thousands) Retail National Programs Wholesale Brokerage Services Other Total Total revenues $ 1,472,766 $ 610,640 $ 352,797 $ 174,012 $ 3,160 $ 2,613,375 Investment income $ 163 $ 756 $ 184 $ — $ 1,708 $ 2,811 Amortization $ 67,315 $ 27,166 $ 8,481 $ 5,561 $ — $ 108,523 Depreciation $ 9,071 $ 8,658 $ 1,948 $ 1,424 $ 5,175 $ 26,276 Interest expense $ 85,968 $ 20,597 $ 10,281 $ 4,142 $ (62,015 ) $ 58,973 Income before income taxes $ 262,245 $ 182,892 $ 93,593 $ 27,994 $ 57,375 $ 624,099 Total assets $ 7,093,627 $ 3,510,983 $ 1,791,717 $ 480,440 $ (3,910,275 ) $ 8,966,492 Capital expenditures $ 13,175 $ 7,208 $ 3,324 $ 1,424 $ 45,569 $ 70,700 Year Ended December 31, 2019 (in thousands) Retail National Programs Wholesale Brokerage Services Other Total Total revenues $ 1,367,261 $ 518,384 $ 310,087 $ 193,781 $ 2,658 $ 2,392,171 Investment income $ 149 $ 1,397 $ 178 $ 139 $ 3,917 $ 5,780 Amortization $ 63,146 $ 25,482 $ 11,191 $ 5,479 $ — $ 105,298 Depreciation $ 7,390 $ 6,791 $ 1,674 $ 1,229 $ 6,333 $ 23,417 Interest expense $ 87,295 $ 16,690 $ 4,756 $ 4,404 $ (49,485 ) $ 63,660 Income before income taxes $ 222,875 $ 143,737 $ 82,739 $ 40,337 $ 36,241 $ 525,929 Total assets $ 6,413,459 $ 3,110,368 $ 1,390,250 $ 481,336 $ (3,772,592 ) $ 7,622,821 Capital expenditures $ 12,497 $ 10,365 $ 6,171 $ 804 $ 43,271 $ 73,108 Year Ended December 31, 2018 (in thousands) Retail National Programs Wholesale Brokerage Services Other Total Total revenues $ 1,042,763 $ 494,463 $ 287,014 $ 189,246 $ 760 $ 2,014,246 Investment income $ 2 $ 506 $ 165 $ 205 $ 1,868 $ 2,746 Amortization $ 44,386 $ 25,954 $ 11,391 $ 4,813 $ — $ 86,544 Depreciation $ 5,289 $ 5,486 $ 1,628 $ 1,558 $ 8,873 $ 22,834 Interest expense $ 35,969 $ 26,181 $ 5,254 $ 2,869 $ (29,693 ) $ 40,580 Income before income taxes $ 217,845 $ 117,375 $ 70,171 $ 34,508 $ 22,563 $ 462,462 Total assets $ 5,850,045 $ 2,940,097 $ 1,283,877 $ 471,572 $ (3,856,923 ) $ 6,688,668 Capital expenditures $ 6,858 $ 12,391 $ 2,518 $ 1,525 $ 18,228 $ 41,520

Insurance Company WNFIC

Insurance Company WNFIC	12 Months Ended
	Dec. 31, 2020
Reinsurance Disclosures [Abstract]
Insurance Company WNFIC	NOTE 18 Insurance Company WNFIC Although the reinsurers are liable to the Company for amounts reinsured, our subsidiary, WNFIC remains primarily liable to its policyholders for the full amount of the policies written whether or not the reinsurers meet their obligations to the Company when they become due. The effects of reinsurance on premiums written and earned at December 31 are as follows: 2020 2019 (in thousands) Written Earned Written Earned Direct premiums $ 728,109 $ 716,515 $ 697,072 $ 668,971 Assumed premiums — — — — Ceded premiums 728,093 716,499 697,059 668,958 Net premiums $ 16 $ 16 $ 13 $ 13 All premiums written by WNFIC under the National Flood Insurance Program are 100.0% ceded to FEMA, for which WNFIC received a 30.1% expense allowance from January 1, 2020 through September 30, 2020 and a 30.0% expense allowance from October 1, 2020 through December 31, 2020. As of December 31, 2020 and 2019, the Company ceded $725.8 million and $694.9 million of written premiums for Federal Flood, respectively. As of December 31, 2020, the Consolidated Balance Sheets contained Reinsurance recoverable of $43.5 million and Prepaid reinsurance premiums of $377.6 million. As of December 31, 2019, the Consolidated Balance Sheets contained reinsurance recoverable of $58.5 million and prepaid reinsurance premiums of $366.0 million. There was no net activity in the reserve for losses and loss adjustment expense for the years ended December 31, 2020 and 2019, as WNFIC’s direct premiums written were 100.0% ceded to two reinsurers. The balance of the reserve for losses and loss adjustment expense, excluding related reinsurance recoverables was $43.5 million as of December 31, 2020 and $58.5 million as of December 31, 2019. WNFIC maintains capital in excess of minimum statutory amount of $7.5 million as required by regulatory authorities. The statutory capital and surplus of WNFIC was $32.6 million as of December 31, 2020 and $29.6 million as of December 31, 2019. As of December 31, 2020 and 2019, WNFIC generated statutory net income of $0.8 million and $8.1 million, respectively. The maximum amount of ordinary dividends that WNFIC can pay to shareholders in a rolling 12 month period is limited to the greater of 10.0% of statutory adjusted capital and surplus of

Shareholders' Equity

Shareholders' Equity	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Shareholders' Equity	NOTE 19 Shareholders’ Equity Under the authorization from the Company’s Board of Directors, shares may be purchased from time to time, at the Company’s discretion and subject to the availability of stock, market conditions, the trading price of the stock, alternative uses for capital, the Company’s financial performance and other potential factors. These purchases may be carried out through open market purchases, block trades, accelerated share repurchase plans of up to $100.0 million each (unless otherwise approved by the Board of Directors), negotiated private transactions or pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. On May 1, 2019, the Company's Board of Directors authorized the purchasing of up to an additional $372.5 million of the Company's outstanding common stock. During 2018, the Company entered into accelerated share repurchase agreement (“ASR”) with an investment bank to purchase an aggregate $100.0 million of the Company’s common stock. As part of the ASR, the company received an initial share delivery of 2,910,150 shares of the Company’s common stock with a fair market value of approximately $80.0 million in 2018. On May 17, 2019, this agreement was completed with the delivery of 566,599 shares of the Company’s common stock, which in total all shares purchased under this ASR represented an average price of $28.76 per share. In addition to the settlement of the ASR, during 2019, the Company made share repurchases in the open market of 1,087,914 shares at a total cost of $38.7 million, at an average price of $35.55 per share. During 2020, the Company repurchased 1,234,417 shares at an average price of $44.63 for a total cost of $55.1 million under the current share repurchase authorization. At December 31, 2020, the remaining amount authorized by our Board of Directors for share repurchases was approximately $406.2 million. Under the authorized repurchase programs, the Company has repurchased a total of approximately 16.7 million shares for an aggregate cost of approximately $591.3 million between 2014 and 2020.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Nature of Operations	Nature of Operations Brown & Brown, Inc., a Florida corporation, and its subsidiaries (collectively, “Brown & Brown” or the “Company”) is a diversified insurance agency, wholesale brokerage, insurance programs and service organization that markets and sells insurance products and services, primarily in the property, casualty and employee benefits areas. Brown & Brown’s business is divided into four reportable segments. The Retail Segment provides a broad range of insurance products and services to commercial, public and quasi-public, professional and individual insured customers, and non-insurance risk-mitigating products through our automobile dealer services (“F&I”) businesses. The National Programs Segment, which acts as a managing general agent (“MGA”), provides professional liability and related package products for certain professionals, a range of insurance products for individuals, flood coverage, and targeted products and services designated for specific industries, trade groups, governmental entities and market niches, all of which are delivered through a nationwide network of independent agents, including Brown & Brown retail agents. The Wholesale Brokerage Segment markets and sells excess and surplus commercial and personal lines insurance, primarily through independent agents and brokers, as well as Brown & Brown retail agents. The Services Segment provides insurance-related services, including third-party claims administration and comprehensive medical utilization management services in both the workers’ compensation and all-lines liability arenas, as well as Medicare Set-aside services, Social Security disability and Medicare benefits advocacy services and claims adjusting services.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In March 2020, the Financial Accounting Standards Board (“FASB”) issued ASU 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting." The amendments provide optional guidance for a limited time to ease the potential burden in accounting for reference rate reform. The new guidance provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts and hedging relationships that reference LIBOR or another reference rate expected to be discontinued due to reference rate reform. These amendments are effective immediately and may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022. We are currently evaluating our contracts and the available expedients provided by the new standard; however, the Company can assert there is no impact to any carrying value of assets or liabilities aside from our floating-rate debt instruments that are indexed to LIBOR and are carried at amortized cost. Any further impact of adoption will be in determining the new periodic floating interest rate indexed to our floating-rate debt instruments with no impact on the balance sheet upon adoption. In December 2019, the FASB issued ASU 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes”. The standard removes specific exceptions in the current rules and eliminates the need for an organization to analyze whether the following apply in a given period: (a) exception to the incremental approach for intra-period tax allocation; (b) exceptions to accounting for basis differences when there are ownership changes in foreign investments and (c) exception in interim period income tax accounting for year-to-date losses that exceed anticipated losses. The standard also is designed to improve financial statement preparers’ application of income tax-related guidance and simplify GAAP for (a) franchise taxes that are partially based on income; (b) transactions with a government that result in a step-up in the tax basis of goodwill; (c) separate financial statements of legal entities that are not subject to tax and (d) enacted changes in tax laws in interim periods. The standard takes effect for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. The Company does not expect that adopting this standard will have a material impact on the Company’s financial position.
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards In August 2018, the FASB issued ASU 2018-15, “Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract,” which provides guidance for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). ASU 2018-15 became effective for public companies for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company adopted ASU 2018-15 effective January 1, 2020. The impact of adoption of this standard on our consolidated financial statements, including accounting policies, processes, and systems, was not material. In January 2017, the FASB issued ASU No. 2017-04, “Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.” The new guidance eliminates Step 2 of the goodwill impairment test. The updated guidance requires an entity to perform its annual or interim goodwill impairment test by comparing the fair value of the reporting unit to its carrying value, and recognizing a non-cash impairment charge for the amount by which the carrying value exceeds the reporting unit’s fair value with the loss not exceeding the total amount of goodwill allocated to that reporting unit. ASU 2017-04 became effective for public companies for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019 and will be applied prospectively. The Company adopted ASU 2017-04 effective January 1, 2020, with interim or annual goodwill impairment tests now comparing the fair value of a reporting unit with its carrying value and no longer performing Step 2 of the goodwill impairment test. In June 2016, the FASB issued ASU 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”. The new guidance adds an impairment model, known as the current expected credit loss (CECL) model that is based on expected losses rather than incurred losses. These amendments require the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable forward-looking information, which is intended to result in more timely recognition of such losses. All related guidance has been codified into, and is now known as, ASC 326 – Financial Instruments—Credit Losses. The new standard is effective for public companies for annual reporting periods beginning after December 15, 2019, and interim periods therein. The Company adopted ASU 2016-13 effective January 1, 2020 and has determined there is not a material impact on the Company’s Financial Statements given that historical trend analysis and assessments for forward-looking qualitative analysis are already integrated into financial assessments for the Company.
Principle of Consolidation	Principles of Consolidation The accompanying Consolidated Financial Statements include the accounts of Brown & Brown, Inc. and its subsidiaries. All significant intercompany account balances and transactions have been eliminated in the Consolidated Financial Statements. Segment results for prior periods have been recast, where appropriate, to reflect the current year segmental structure. Certain reclassifications have been made to the prior year amounts reported in this Annual Report on Form 10-K in order to conform to the current year presentation.
Revenue Recognition	Revenue Recognition The Company earns commissions paid by insurance carriers for the binding of insurance coverage. Commissions are earned at a point in time upon the effective date of bound insurance coverage, as no performance obligation exists after coverage is bound. If there are other services within the contract, the Company estimates the stand-alone selling price for each separate performance obligation, and the corresponding apportioned revenue is recognized over a period of time as the performance obligations are fulfilled. The Company earns fee revenue by receiving negotiated fees in lieu of a commission and from services other than securing insurance coverage. Fee revenues from certain agreements are recognized depending on when the services within the contract are satisfied and when we have transferred control of the related services to the customer. In situations where multiple performance obligations exist within a fee contract, the use of estimates is required to allocate the transaction price on a relative stand-alone selling price basis to each separate performance obligation. Incentive commissions represent a form of variable consideration which includes additional commissions over base commissions received from insurance carriers based on predetermined production levels mutually agreed upon by both parties. Profit-sharing contingent commissions represent a form of variable consideration associated with the placement of coverage, for which we earn commissions. Profit-sharing contingent commissions and incentive commissions are estimated with a constraint applied and accrued relative to the recognition of the corresponding core commissions based on the amount of consideration that will be received in the coming year such that a significant reversal of revenue is not probable. Guaranteed supplemental commissions, a form of variable consideration, represent guaranteed fixed-base agreements in lieu of profit-sharing contingent commissions. Management determines the policy cancellation reserve based upon historical cancellation experience adjusted for any known circumstances.
Use of Estimates	Use of Estimates The preparation of the Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, as well as disclosures of contingent assets and liabilities, at the date of the Consolidated Financial Statements, and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents principally consist of demand deposits with financial institutions and highly liquid investments with quoted market prices having maturities of three months or less when purchased. Included in cash and cash equivalents are unrestricted premium from insureds before it is remitted to the appropriate insurance company or companies, net of any commissions we are due.
Restricted Cash and Investments Premiums Commissions and Fees Receivable	Restricted Cash and Investments, and Premiums, Commissions and Fees Receivable In our capacity as an insurance agent or broker, the Company typically collects premiums from insureds and, after deducting the authorized commissions, remits the net premiums to the appropriate insurance company or companies. Accordingly, premiums that are receivable from insureds are reported within Premiums, commissions, and fee receivable in the Consolidated Balance Sheets. Unremitted net insurance premiums are held in a fiduciary capacity until the Company disburses them, and the use of such funds is restricted by laws in certain states in which our subsidiaries operate, or restricted due to our contracts with a certain insurance company or companies in which we hold premiums in a fiduciary capacity. Where allowed by law, the Company invests these unremitted funds only in cash, money market accounts, tax-free variable-rate demand bonds and commercial paper held for a short-term. In certain states in which the Company operates, the use and investment alternatives for these funds are regulated and restricted by various state laws and agencies. These restricted funds are reported as restricted cash and investments on the Consolidated Balance Sheets. The interest income earned on these unremitted funds, where allowed by state law, is reported as investment income in the Consolidated Statement of Income. In other circumstances, the insurance companies collect the premiums directly from the insureds and remit the applicable commissions to the Company. Accordingly, as reported in the Consolidated Balance Sheets, commissions are receivables from insurance companies. Fees are primarily receivables due from customers.
Investments	Investments Certificates of deposit, and other securities, having maturities of more than three months when purchased are reported at cost and are adjusted for other-than-temporary market value declines. The Company’s investment holdings include U.S. Government securities, municipal bonds, domestic corporate and foreign corporate bonds as well as short-duration fixed income funds. Investments within the portfolio or funds are held as available-for-sale and are carried at their fair value. Any gain/loss applicable from the fair value change is recorded, net of tax, as other comprehensive income within the equity section of the Consolidated Balance Sheets. Realized gains and losses are reported on the Consolidated Statement of Income, with the cost of securities sold determined on a specific identification basis.
Fixed Assets	Fixed Assets Fixed assets, including leasehold improvements, are carried at cost, less accumulated depreciation and amortization. Expenditures for improvements are capitalized, and expenditures for maintenance and repairs are expensed to operations as incurred. Upon sale or retirement, the cost and related accumulated depreciation and amortization are removed from the accounts and the resulting gain or loss, if any, is reflected in other income. Depreciation has been determined using the straight-line method over the estimated useful lives of the related assets, which range from 3 to 39 years. Leasehold improvements are amortized on the straight-line method over the shorter of the useful life of the improvement or the term of the related lease.
Goodwill and Amortizable Intangible Assets	Goodwill and Amortizable Intangible Assets All of our business combinations are accounted for using the acquisition method. Acquisition purchase prices are typically based upon a multiple of average annual EBITDA, operating profit and/or core revenue earned over a period of 3 years within a minimum and maximum price range. The recorded purchase prices for acquisitions include an estimation of the fair value of liabilities associated with any potential earn-out provisions. Subsequent changes in the fair value of earn-out obligations are recorded in the Consolidated Statement of Income when incurred. The fair value of earn-out obligations is based upon the present value of the expected future payments to be made to the sellers of the acquired businesses in accordance with the provisions contained in the respective purchase agreements. In determining fair value, the acquired business’ future performance is estimated using financial projections developed by management for the acquired business and this estimate reflects market participant assumptions regarding revenue growth and/or profitability. The expected future payments are estimated on the basis of the earn-out formula and performance targets specified in each purchase agreement compared to the associated financial projections. These estimates are then discounted to present value using a risk-adjusted rate that takes into consideration the likelihood that the forecasted earn-out payments will be made. Amortizable intangible assets are stated at cost, less accumulated amortization, and consist of purchased customer accounts and non-compete agreements. Purchased customer accounts and non-compete agreements are amortized on a straight-line basis over the related estimated lives and contract periods, which range from 3 to 15 years. Purchased customer accounts primarily consist of records and files that contain information about insurance policies and the related insured parties that are essential to policy renewals. The excess of the purchase price of an acquisition over the fair value of the identifiable tangible and amortizable intangible assets is assigned to goodwill. While goodwill is not amortizable, it is subject to assessment at least annually, and more frequently in the presence of certain circumstances, for impairment by application of a fair value-based test. The Company compares the fair value of each reporting unit with its carrying amount to determine if there is potential impairment of goodwill. If the fair value of the reporting unit is less than its carrying value, an impairment loss is recorded to the extent that the fair value of the goodwill within the reporting unit is less than its carrying value. Fair value is estimated based upon multiples of earnings before interest, income taxes, depreciation, amortization and change in estimated acquisition earn-out payables (“EBITDAC”), or on a discounted cash flow basis. The Company completed its most recent annual assessment as of November 30, 2020 and determined that the fair value of goodwill significantly exceeded the carrying value of such assets. In addition, as of December 31, 2020, there are no accumulated impairment losses. The carrying value of amortizable intangible assets attributable to each business or asset group comprising the Company is periodically reviewed by management to determine if there are events or changes in circumstances that would indicate that its carrying amount may not be recoverable. Accordingly, if there are any such changes in circumstances during the year, the Company assesses the carrying value of its amortizable intangible assets by considering the estimated future undiscounted cash flows generated by the corresponding business or asset group. Any impairment identified through this assessment may require that the carrying value of related amortizable intangible assets be adjusted. There were no impairments recorded for the years ended December 31, 2020, 2019 and 2018.
Income Taxes	Income Taxes The Company records income tax expense using the asset-and-liability method of accounting for deferred income taxes. Under this method, deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial statement carrying values and the income tax bases of the Company’s assets and liabilities. The Company files a consolidated federal income tax return and has elected to file consolidated returns in certain states. Deferred income taxes are provided for in the Consolidated Financial Statements and relate principally to expenses charged to income for financial reporting purposes in one period and deducted for income tax purposes in other periods.
Net Income Per Share	Net Income Per Share Basic net income per share is computed based on the weighted average number of common shares (including participating securities) issued and outstanding during the period. Diluted net income per share is computed based on the weighted average number of common shares issued and outstanding plus equivalent shares, assuming the exercise of stock options. The dilutive effect of stock options is computed by application of the treasury-stock method. The following is a reconciliation between basic and diluted weighted average shares outstanding for the years ended December 31: (in thousands, except per share data) 2020 2019 2018 Net income $ 480,483 $ 398,514 $ 344,255 Net income attributable to unvested awarded performance stock (15,197 ) (12,873 ) (8,297 ) Net income attributable to common shares $ 465,286 $ 385,641 $ 335,958 Weighted average number of common shares outstanding – basic 283,294 281,566 277,663 Less unvested awarded performance stock included in weighted average number of common shares outstanding – basic (8,960 ) (9,095 ) (6,692 ) Weighted average number of common shares outstanding for basic earnings per common share 274,334 272,471 270,971 Dilutive effect of stock options 1,533 2,145 4,550 Weighted average number of shares outstanding – diluted 275,867 274,616 275,521 Net income per share: Basic $ 1.70 $ 1.42 $ 1.24 Diluted $ 1.69 $ 1.40 $ 1.22
Fair Value of Financial Instruments	Fair Value of Financial Instruments The carrying amounts of the Company’s financial assets and liabilities, including cash and cash equivalents; restricted cash and short-term investments; investments; premiums, commissions and fees receivable; reinsurance recoverable; prepaid reinsurance premiums; premiums payable to insurance companies; losses and loss adjustment reserve; unearned premium; premium deposits and credits due customers and accounts payable, at December 31, 2020 and 2019, approximate fair value because of the short-term maturity of these instruments. The carrying amount of the Company’s long-term debt approximates fair value at December 31, 2020 and 2019 as our fixed-rate borrowings of $1,548.2 million
Non-Cash Stock-Based Compensation	Non-Cash The Company grants non-vested stock awards to its employees and officers and fully vested stock awards to directors. The Company uses the modified-prospective method to account for share-based payments. Under the modified-prospective method, compensation cost is recognized for all share-based payments granted on or after January 1, 2006 and for all awards granted to employees prior to January 1, 2006 that remained unvested on that date. The Company uses the alternative-transition method to account for the income tax effects of payments made related to stock-based compensation. The Company uses the Black-Scholes valuation model for valuing all stock options and shares purchased under the Employee Stock Purchase Plan (the “ESPP”). Compensation for non-vested stock awards is measured at fair value on the grant date based upon the number of shares expected to vest. Compensation cost for all awards is recognized in earnings, net of estimated forfeitures, on a straight-line basis over the requisite service period.
Reinsurance	Reinsurance The only line of insurance in which the Company acts in a risk-bearing capacity is flood insurance associated with the Wright National Flood Insurance Company (“WNFIC”), which is part of our National Programs Segment. The Company protects itself from claims-related losses by reinsuring all claims risk exposure. However, for basic admitted policies conforming to the National Flood Insurance Program all exposure is reinsured with the Federal Emergency Management Agency (“FEMA”). For excess flood insurance policies, all exposure is reinsured with a reinsurance carrier with an AM Best Company rating of “A” or better. Reinsurance does not legally discharge the ceding insurer from the primary liability for the full amount due under the reinsured policies. Reinsurance premiums, commissions, expense reimbursement and reserves related to ceded business are accounted for on a basis consistent with the accounting for the original policies issued and the terms of reinsurance contracts. Premiums earned and losses and loss adjustment expenses incurred are reported net of reinsurance amounts. Other underwriting expenses are shown net of earned ceding commission income. The liabilities for unpaid losses and loss adjustment expenses and unearned premiums are reported gross of ceded reinsurance recoverable. Balances due from reinsurers on unpaid losses and loss adjustment expenses, including an estimate of such recoverables related to reserves for incurred but not reported (“IBNR”) losses, are reported as assets and are included in reinsurance recoverable even though amounts due on unpaid loss and loss adjustment expense are not recoverable from the reinsurer until such losses are paid. The Company does not believe it is exposed to any material credit risk through its reinsurance as the reinsurer is FEMA for basic admitted flood policies and national reinsurance carriers for private flood policies, which has an AM Best Company rating of “A” or better. Historically, no amounts due from reinsurance carriers have been written off as uncollectible.
Unpaid Losses and Loss Adjustment Reserve	Unpaid Losses and Loss Adjustment Reserve Unpaid losses and loss adjustment reserve include amounts determined on individual claims and other estimates based upon the past experience of WNFIC and the policyholders for IBNR claims, less anticipated salvage and subrogation recoverable. The methods of making such estimates and for establishing the resulting reserves are continually reviewed and updated, and any adjustments resulting therefrom are reflected in operations currently. WNFIC engages the services of outside actuarial consulting firms (the “Actuaries”) to assist on an annual basis to render an opinion on the sufficiency of the Company’s estimates for unpaid losses and related loss adjustment reserve. The Actuaries utilize both industry experience and the Company’s own experience to develop estimates of those amounts as of year-end. These estimated liabilities are subject to the impact of future changes in claim severity, frequency and other factors. In spite of the variability inherent in such estimates, management believes that the liabilities for unpaid losses and related loss adjustment reserve are adequate. Premiums from WNFIC are recognized as income over the coverage period of the related policies. Unearned premiums represent the portion of premiums written that relate to the unexpired terms of the policies in force and are determined on a daily pro rata basis. The income is recorded to the commissions and fees line of the income statement.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Reconciliation between Basic and Diluted Weighted Average Shares Outstanding	The following is a reconciliation between basic and diluted weighted average shares outstanding for the years ended December 31: (in thousands, except per share data) 2020 2019 2018 Net income $ 480,483 $ 398,514 $ 344,255 Net income attributable to unvested awarded performance stock (15,197 ) (12,873 ) (8,297 ) Net income attributable to common shares $ 465,286 $ 385,641 $ 335,958 Weighted average number of common shares outstanding – basic 283,294 281,566 277,663 Less unvested awarded performance stock included in weighted average number of common shares outstanding – basic (8,960 ) (9,095 ) (6,692 ) Weighted average number of common shares outstanding for basic earnings per common share 274,334 272,471 270,971 Dilutive effect of stock options 1,533 2,145 4,550 Weighted average number of shares outstanding – diluted 275,867 274,616 275,521 Net income per share: Basic $ 1.70 $ 1.42 $ 1.24 Diluted $ 1.69 $ 1.40 $ 1.22

Revenues (Tables)

Revenues (Tables)	12 Months Ended
	Dec. 31, 2020
Revenues [Abstract]
Schedule of Disaggregated by Revenue	The following tables present the revenues disaggregated by revenue source: Twelve months ended December 31, 2020 (in thousands) Retail National Programs Wholesale Brokerage Services Other (8) Total Base commissions (1) $ 1,054,619 $ 422,916 $ 273,878 $ — $ 1 $ 1,751,414 Fees (2) 275,900 159,337 66,051 174,012 (1,291 ) 674,009 Incentive commissions (3) 89,920 549 3,057 — 31 93,557 Profit-sharing contingent commissions (4) 35,785 27,278 7,871 — — 70,934 Guaranteed supplemental commissions (5) 15,128 (238 ) 1,304 — — 16,194 Investment income (6) 163 756 184 — 1,708 2,811 Other income, net (7) 1,251 42 452 — 2,711 4,456 Total Revenues $ 1,472,766 $ 610,640 $ 352,797 $ 174,012 $ 3,160 $ 2,613,375 Twelve months ended December 31, 2019 (in thousands) Retail National Programs Wholesale Brokerage Services Other (8) Total Base commissions (1) $ 994,170 $ 338,058 $ 242,380 $ — $ (128 ) $ 1,574,480 Fees (2) 246,135 151,298 56,852 193,641 (1,160 ) 646,766 Incentive commissions (3) 80,505 (524 ) 1,252 — 27 81,260 Profit-sharing contingent commissions (4) 34,150 17,517 7,499 — — 59,166 Guaranteed supplemental commissions (5) 11,056 10,566 1,443 — — 23,065 Investment income (6) 149 1,397 178 139 3,917 5,780 Other income, net (7) 1,096 72 483 1 2 1,654 Total Revenues $ 1,367,261 $ 518,384 $ 310,087 $ 193,781 $ 2,658 $ 2,392,171 (1) Base commissions generally represent a percentage of the premium paid by an insured and are affected by fluctuations in both premium rate levels charged by insurance companies and the insureds’ underlying “insurable exposure units,” which are units that insurance companies use to measure or express insurance exposed to risk (such as property values, or sales and payroll levels) to determine what premium to charge the insured. Insurance companies establish these premium rates based upon many factors, including loss experience, risk profile and reinsurance rates paid by such insurance companies, none of which we control. (2) Fee revenues relate to fees for services other than securing coverage for our customers, fees negotiated in lieu of commissions, and F&I products and services. (3) Incentive commissions include additional commissions over base commissions received from insurance carriers based on predetermined production levels mutually agreed upon by both parties. (4) Profit-sharing contingent commissions are based primarily on underwriting results, but may also reflect considerations for volume, growth and/or retention. (5) Guaranteed supplemental commissions represent guaranteed fixed-base agreements in lieu of profit-sharing contingent commissions. (6) Investment income consists primarily of interest on cash and investments. (7) Other income consists primarily of legal settlements and other miscellaneous income. (8) Fees within other reflects the elimination of intercompany revenues .
Schedule of Balances of Contract Assets and Contract Liabilities Arising from Contracts with Customers	The balances of contract assets and contract liabilities arising from contracts with customers as of December 31, 2020 and 2019 were as follows: (in thousands) December 31, 2020 December 31, 2019 Contract assets $ 308,755 $ 289,609 Contract liabilities $ 80,997 $ 58,126

Business Combinations (Tables)

Business Combinations (Tables)	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
Purchase Price Allocation for Current Year Acquisitions and Adjustments Made for Prior Year Acquisitions	The following table summarizes the purchase price allocations made as of the date of each acquisition for current year acquisitions and adjustments made during the measurement period for prior year acquisitions. During the measurement periods, the Company will adjust assets or liabilities if new information is obtained about facts and circumstances that existed as of the acquisition date that, if known, would have resulted in the recognition of those assets and liabilities as of that date. These adjustments are made in the period in which the amounts are determined and the current period income effect of such adjustments will be calculated as if the adjustments had been completed as of the acquisition date. (in thousands) Name Business segment Effective date of acquisition Cash paid Common Stock Issued Other payable Recorded earn-out payable Net assets acquired Maximum potential earn- out payable Special Risk Insurance Managers Ltd. (Special Risk) National Programs January 1, 2020 $ 70,156 $ — $ — $ 9,859 $ 80,015 $ 14,650 Texas All Risk General Agency, Inc. et al (Texas Risk) Wholesale Brokerage January 1, 2020 10,511 — 159 310 10,980 1,150 The Colonial Group, Inc. et al (Colonial) Wholesale Brokerage March 1, 2020 29,037 — 527 7,577 37,141 10,150 RLA Insurance Intermediaries, LLC (RLA) Wholesale Brokerage March 1, 2020 42,496 — 786 11,687 54,969 22,500 Dealer Financial Services of N.C., LLC d/b/a The Sterling Group (Sterling) Retail April 1, 2020 19,341 — 300 4,129 23,770 5,400 LP Insurance Services, LLC (LP) National Programs May 1, 2020 115,948 10,000 318 23,394 149,660 75,850 First Resource, Inc. (First) Retail July 1, 2020 10,700 — 450 3,776 14,926 5,800 Buiten & Associates, LLC (Buiten) Retail August 1, 2020 38,225 — 1,175 7,448 46,848 14,175 Amity Insurance, Inc. (Amity) Retail August 1, 2020 14,820 2,000 200 1,860 18,880 4,060 Frank E. Neal & Co., Inc. (Neal) Retail September 1, 2020 32,589 3,120 345 5,732 41,786 10,325 BrookStone Insurance Group, LLC (BrookStone) Retail September 1, 2020 12,030 — — 1,058 13,088 1,878 VAS GenPar, LLC (VAS) Retail October 1, 2020 114,249 15,000 — 23,274 152,523 48,000 Bright & Associates, Inc. (Bright) Retail October 1, 2020 12,528 — 1,257 3,854 17,639 5,775 J.E. Brown & Associates Insurance Services, Inc. (J.E. Brown) Wholesale Brokerage October 1, 2020 33,331 — 1,030 5,947 40,308 10,425 CoverHound, Inc. and CyberPolicy, Inc. (CoverHound) Retail November 1, 2020 27,595 — 600 — 28,195 — MAJ Companies, Ltd. (MAJ) Retail December 1, 2020 19,072 — 300 2,006 21,378 6,475 South & Western General Agency, Inc. (South & Western) Wholesale Brokerage December 1, 2020 69,673 — 1,193 7,294 78,160 18,000 Berry Insurance Group, Inc. (Berry) Retail December 31, 2020 35,326 — — 3,694 39,020 6,500 Other Various Various 14,888 — 490 8,498 23,876 12,337 Total $ 722,515 $ 30,120 $ 9,130 $ 131,397 $ 893,162 $ 273,450 The following table summarizes the purchase price allocation made as of the date of each acquisition for current year acquisitions and significant adjustments made during the measurement period for prior year acquisitions: (in thousands) Name Business segment Effective date of acquisition Cash paid Common Stock Issued Other payable Recorded earn-out payable Net assets acquired Maximum potential earn- out payable Smith Insurance Associates, Inc. (Smith) Retail February 1, 2019 $ 20,129 $ — $ — $ 2,704 $ 22,833 $ 4,550 Donald P. Pipino Company, LTD (Pipino) Retail February 1, 2019 16,420 — 135 9,821 26,376 12,996 AGA Enterprises, LLC d/b/a Cossio Insurance Agency (Cossio) Retail March 1, 2019 13,990 — 10 696 14,696 2,000 Medval, LLC (Medval) Services March 1, 2019 29,106 — 100 1,684 30,890 2,500 United Development Systems, Inc. (United) Retail May 1, 2019 18,987 — 388 3,268 22,643 8,625 Twinbrook Insurance Brokerage, Inc. (Twinbrook) Retail June 1, 2019 26,251 — 400 1,565 28,216 5,073 Innovative Risk Solutions, Inc. (IRS) Retail July 1, 2019 26,435 — 2,465 6,109 35,009 9,000 WBR Insurance Agency, LLC et al (WBR) Retail August 1, 2019 10,667 — 203 2,197 13,067 4,575 West Ridge Insurance Agency, Inc. d/b/a Yozell Associates (Yozell) Retail August 1, 2019 13,030 — 470 768 14,268 6,730 CKP Insurance, LLC (CKP) Retail August 1, 2019 89,190 20,000 4,000 38,093 151,283 76,500 Poole Professional Ltd. Insurance Agents and Brokers et al (Poole) Retail October 1, 2019 32,358 — 75 4,556 36,989 6,850 VerHagen Glendenning & Walker LLP (VGW) Retail October 1, 2019 23,032 — 1,498 2,385 26,915 8,170 Other Various Various 36,665 — 2,391 9,026 48,082 14,454 Total $ 356,260 $ 20,000 $ 12,135 $ 82,872 $ 471,267 $ 162,023 The following table summarizes the purchase price allocation made as of the date of each acquisition for current year acquisitions and significant adjustments made during the measurement period for prior year acquisitions: (in thousands) Name Business segment Effective date of acquisition Cash paid Common Stock Issued Other payable Recorded earn-out payable Net assets acquired Maximum potential earn- out payable Opus Advisory Group, LLC (Opus) Retail February 1, 2018 $ 20,400 $ — $ 200 $ 2,384 $ 22,984 $ 3,600 Kerxton Insurance Agency, Inc. (Kerxton) Retail March 1, 2018 13,176 — 1,490 2,080 16,746 2,920 Automotive Development Group, LLC (ADG) Retail May 1, 2018 29,471 — 559 17,545 47,575 20,000 Servco Pacific, Inc. (Servco) Retail June 1, 2018 76,245 — — 934 77,179 7,000 Tower Hill Prime Insurance Company (Tower Hill) National Programs July 1, 2018 20,300 — — 1,188 21,488 7,700 Health Special Risk, Inc. (HSR) National Programs July 1, 2018 20,132 — — 1,991 22,123 9,000 Professional Disability Associates, LLC (PDA) Services July 1, 2018 15,025 — — 9,818 24,843 17,975 Finance & Insurance Resources, Inc. (F&I) Retail September 1, 2018 44,940 — 410 9,121 54,471 19,500 Rodman Insurance Agency, Inc. (Rodman) Retail November 1, 2018 31,121 — 261 3,720 35,102 9,850 The Hays Group, Inc. et al (Hays) Retail November 16, 2018 605,000 100,000 — 19,600 724,600 25,000 Dealer Associates, Inc. (Dealer) Retail December 1, 2018 28,825 — 1,175 3,100 33,100 12,125 Other Various Various 30,293 — 1,367 5,896 37,556 12,998 Total $ 934,928 $ 100,000 $ 5,462 $ 77,377 $ 1,117,767 $ 147,668
Estimated Fair Values of Aggregate Assets and Liabilities Acquired	The following table summarizes the estimated fair values of the aggregate assets and liabilities acquired as of the date of each acquisition and adjustments made during the measurement period of the prior year acquisitions. (in thousands) Special Risk Texas Risk Colonial RLA Sterling LP First Buiten Amity Neal Cash $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — Other current assets 2,477 446 1,344 — 612 3,162 302 2,595 653 2,337 Fixed assets 345 27 59 55 16 1,877 1 43 58 46 Goodwill 63,087 8,940 27,845 53,567 17,339 99,983 9,523 33,641 15,454 28,929 Purchased customer accounts 14,286 3,222 9,205 12,309 5,962 44,801 5,095 11,323 5,614 13,225 Non-compete agreements 136 25 43 481 21 31 21 91 21 31 Other assets — — — — — — — — — 274 Total assets acquired 80,331 12,660 38,496 66,412 23,950 149,854 14,942 47,693 21,800 44,842 Other current liabilities (316 ) (1,680 ) (1,355 ) (11,443 ) (180 ) (10 ) (16 ) (845 ) (2,920 ) (3,056 ) Other liabilities — — — — — (184 ) — — — — Total liabilities assumed (316 ) (1,680 ) (1,355 ) (11,443 ) (180 ) (194 ) (16 ) (845 ) (2,920 ) (3,056 ) Net assets acquired $ 80,015 $ 10,980 $ 37,141 $ 54,969 $ 23,770 $ 149,660 $ 14,926 $ 46,848 $ 18,880 $ 41,786 (in thousands) Brook Stone VAS Bright J.E. Brown Cover Hound MAJ South & Western Berry Other Total Cash $ — $ 27,673 $ — $ — $ — $ — $ — $ — $ — $ 27,673 Other current assets 527 5,486 402 — 375 413 — — 912 22,043 Fixed assets 22 138 23 32 6,441 — 149 30 25 9,387 Goodwill 8,585 100,826 12,218 31,476 19,524 13,003 63,128 29,702 11,325 648,095 Purchased customer accounts 3,689 48,188 5,055 9,479 3,678 8,034 18,513 9,701 8,582 239,961 Non-compete agreements 21 101 42 41 — 11 21 11 64 1,213 Other assets 290 — — — — — — — 3,088 3,652 Total assets acquired 13,134 182,412 17,740 41,028 30,018 21,461 81,811 39,444 23,996 952,024 Other current liabilities (46 ) (3,760 ) (101 ) (720 ) (1,823 ) (83 ) (3,651 ) (424 ) (120 ) (32,549 ) Other liabilities — (26,129 ) — — — — — — — (26,313 ) Total liabilities assumed (46 ) (29,889 ) (101 ) (720 ) (1,823 ) (83 ) (3,651 ) (424 ) (120 ) (58,862 ) Net assets acquired $ 13,088 $ 152,523 $ 17,639 $ 40,308 $ 28,195 $ 21,378 $ 78,160 $ 39,020 $ 23,876 $ 893,162 The following table summarizes the estimated fair values of the aggregate assets and liabilities acquired as of the date of each acquisition and adjustments made during the measurement period of the prior year acquisitions. (in thousands) Smith Pipino Cossio Medval United Twinbrook IRS WBR Yozell CKP Cash $ — $ — $ — $ 3,217 $ — $ — $ — $ — $ — $ — Other current assets 680 819 236 1,708 477 919 1,375 449 1,781 9,170 Fixed assets 39 112 29 50 20 85 11 10 12 193 Goodwill 16,042 16,765 10,010 19,108 15,111 18,935 24,938 9,096 8,904 110,495 Purchased customer accounts 6,500 11,360 4,403 7,300 7,065 8,557 8,800 4,022 3,550 32,274 Non-compete agreements 41 11 21 1 11 12 11 34 21 21 Other assets — 772 — 15 — — — — — — Total assets acquired 23,302 29,839 14,699 31,399 22,684 28,508 35,135 13,611 14,268 152,153 Other current liabilities (469 ) (3,463 ) (3 ) (480 ) (41 ) (292 ) (126 ) (166 ) — (870 ) Other liabilities — — — (29 ) — — — (378 ) — — Total liabilities assumed (469 ) (3,463 ) (3 ) (509 ) (41 ) (292 ) (126 ) (544 ) — (870 ) Net assets acquired $ 22,833 $ 26,376 $ 14,696 $ 30,890 $ 22,643 $ 28,216 $ 35,009 $ 13,067 $ 14,268 $ 151,283 (in thousands) Poole VGW Other Total Cash $ — $ — $ — $ 3,217 Other current assets 938 1,190 (6,786 ) 12,956 Fixed assets 4 20 (130 ) 455 Goodwill 28,233 16,595 34,314 328,546 Purchased customer accounts 10,359 9,092 15,020 128,302 Non-compete agreements 33 34 161 412 Other assets — — (732 ) 55 Total assets acquired 39,567 26,931 41,847 473,943 Other current liabilities (2,578 ) (16 ) 6,235 (2,269 ) Other liabilities — — — (407 ) Total liabilities assumed (2,578 ) (16 ) 6,235 (2,676 ) Net assets acquired $ 36,989 $ 26,915 $ 48,082 $ 471,267 The following table summarizes the estimated fair values of the aggregate assets and liabilities acquired as of the date of each acquisition. (in thousands) Opus Kerxton ADG Servco Tower Hill HSR PDA F&I Rodman Hays Cash $ — $ — $ — $ 8,188 $ — $ 3,114 $ (248 ) $ — $ — $ — Other current assets 1,215 663 1,500 7,769 — 818 1,762 999 1,062 36,254 Fixed assets 11 10 67 179 $ — $ 124 $ 310 $ 34 $ 45 $ 4,936 Goodwill 16,414 12,423 35,769 54,429 — 18,737 16,547 36,423 26,572 456,217 Purchased customer accounts 5,008 4,712 9,751 16,442 21,468 5,516 7,700 16,611 10,129 218,600 Non-compete agreements 21 22 21 1 20 65 82 21 51 2,600 Other assets 315 419 467 1,478 — 21 6 383 542 13,977 Total assets acquired 22,984 18,249 47,575 88,486 21,488 28,395 26,159 54,471 38,401 732,584 Other current liabilities — (1,503 ) — (11,307 ) — (5,930 ) (1,093 ) — (3,299 ) (7,984 ) Deferred income tax, net — — — — — (342 ) (223 ) — — — Total liabilities assumed — (1,503 ) — (11,307 ) — (6,272 ) (1,316 ) — (3,299 ) (7,984 ) Net assets acquired $ 22,984 $ 16,746 $ 47,575 $ 77,179 $ 21,488 $ 22,123 $ 24,843 $ 54,471 $ 35,102 $ 724,600 (in thousands) Dealer Other Total Cash $ — $ — $ 11,054 Other current assets 552 323 52,917 Fixed assets 13 100 5,829 Goodwill 21,467 22,712 717,710 Purchased customer accounts 10,986 15,085 342,008 Non-compete agreements 21 297 3,222 Other assets 226 754 18,588 Total assets acquired 33,265 39,271 1,151,328 Other current liabilities (165 ) (1,715 ) (32,996 ) Other liabilities — — (565 ) Total liabilities assumed (165 ) (1,715 ) (33,561 ) Net assets acquired $ 33,100 $ 37,556 $ 1,117,767
Unaudited Proforma Results	These unaudited pro forma results are not necessarily indicative of the actual results of operations that would have occurred had the acquisitions actually been made at the beginning of the respective periods. (UNAUDITED) Year Ended December 31, (in thousands, except per share data) 2020 2019 Total revenues $ 2,714,314 $ 2,579,075 Income before income taxes $ 650,618 $ 576,355 Net income $ 500,900 $ 436,722 Net income per share: Basic $ 1.77 $ 1.55 Diluted $ 1.76 $ 1.54 Weighted average number of shares outstanding: Basic 274,334 272,471 Diluted 275,867 274,616 (UNAUDITED) Year Ended December 31, (in thousands, except per share data) 2019 2018 Total revenues $ 2,447,401 $ 2,120,867 Income before income taxes $ 545,182 $ 496,076 Net income $ 412,974 $ 369,277 Net income per share: Basic $ 1.47 $ 1.33 Diluted $ 1.46 $ 1.31 Weighted average number of shares outstanding: Basic 272,471 270,971 Diluted 274,616 275,521 (UNAUDITED) Year Ended December 31, (in thousands, except per share data) 2018 2017 Total revenues $ 2,259,812 $ 2,193,169 Income before income taxes $ 504,664 $ 503,927 Net income $ 375,670 $ 447,796 Net income per share: Basic $ 1.35 $ 1.60 Diluted $ 1.33 $ 1.57 Weighted average number of shares outstanding: Basic 270,971 272,580 Diluted 275,521 277,586
Additions, Payments, and Net Changes, as well as Interest Expense Accretion on Estimated Acquisition Earn-Out Payables	The resulting additions, payments and net changes, as well as the interest expense accretion on the estimated acquisition earn-out payables, for the years ended December 31, 2020 , 2019 and 2018 were as follows: Year Ended December 31, (in thousands) 2020 2019 2018 Balance as of the beginning of the period $ 161,513 $ 89,924 $ 36,175 Additions to estimated acquisition earn-out payables from new acquisitions 131,397 82,872 77,377 Payments for estimated acquisition earn-out payables (29,509 ) (9,917 ) (26,597 ) Subtotal 263,401 162,879 86,955 Net change in earnings from estimated acquisition earn-out payables: Change in fair value on estimated acquisition earn-out payables (11,814 ) (7,298 ) 603 Interest expense accretion 7,356 5,932 2,366 Net change in earnings from estimated acquisition earn- out payables (4,458 ) (1,366 ) 2,969 Balance as of December 31, $ 258,943 $ 161,513 $ 89,924

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
	Dec. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Changes in Carrying Value of Goodwill by Operating Segment	The changes in the carrying value of goodwill by reportable segment for the years ended December 31, are as follows: (in thousands) Retail National Programs Wholesale Brokerage Services Total Balance as of January 1, 2019 $ 2,063,150 $ 926,206 $ 291,622 $ 151,808 $ 3,432,786 Goodwill of acquired businesses 302,640 74 6,479 19,353 328,546 Goodwill disposed of relating to sales of businesses (14,499 ) (739 ) — — (15,238 ) Balance as of December 31, 2019 $ 2,351,291 $ 925,541 $ 298,101 $ 171,161 $ 3,746,094 Goodwill of acquired businesses 299,961 163,070 184,956 108 648,095 Goodwill disposed of relating to sales of businesses (782 ) — — — (782 ) Foreign currency translation adjustments during the year — 2,511 — — 2,511 Balance as of December 31, 2020 $ 2,650,470 $ 1,091,122 $ 483,057 $ 171,269 $ 4,395,918

Amortizable Intangible Assets (

Amortizable Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Amortizable Intangible Assets	Amortizable intangible assets at December 31, 2020 and 2019 consisted of the following: December 31, 2020 December 31, 2019 (in thousands) Gross carrying value Accumulated amortization Net carrying value Weighted average life in years(1) Gross carrying value Accumulated amortization Net carrying value Weighted average life in years(1) Purchased customer accounts $ 2,164,968 $ (1,118,316 ) $ 1,046,652 15.0 $ 1,925,326 $ (1,011,574 ) $ 913,752 15.0 Non-compete agreements 35,093 (32,085 ) 3,008 4.6 33,881 (30,865 ) 3,016 4.6 Total $ 2,200,061 $ (1,150,401 ) $ 1,049,660 $ 1,959,207 $ (1,042,439 ) $ 916,768 (1) Weighted average life calculated as of the date of acquisition.

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2020
Investments Debt And Equity Securities [Abstract]
Summary of Amortized Cost and Fair Values of Fixed Maturity Securities	At December 31, 2020, the Company’s amortized cost and fair values of fixed maturity securities are summarized as follows: (in thousands) Cost Gross unrealized gains Gross unrealized losses Fair value U.S. Treasury securities, obligations of U.S. Government agencies and Municipalities $ 28,372 $ 464 $ (5 ) $ 28,831 Corporate debt 7,190 239 (6 ) 7,423 Total $ 35,562 $ 703 $ (11 ) $ 36,254 At December 31, 2019, the Company’s amortized cost and fair values of fixed maturity securities are summarized as follows: (in thousands) Cost Gross unrealized gains Gross unrealized losses Fair value U.S. Treasury securities, obligations of U.S. Government agencies and Municipalities $ 26,487 $ 174 $ (39 ) $ 26,622 Corporate debt 5,324 68 (8 ) 5,384 Total $ 31,811 $ 242 $ (47 ) $ 32,006
Schedule of Investments' Gross Unrealized Loss and Fair Value	For securities in a loss position, the following table shows the investments’ gross unrealized loss and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2020: Less than 12 Months 12 Months or More Total (in thousands) Fair value Unrealized losses Fair value Unrealized losses Fair value Unrealized losses U.S. Treasury securities, obligations of U.S. Government agencies and Municipalities $ 1,995 $ (5 ) $ — $ — $ 1,995 $ (5 ) Corporate debt 808 (6 ) — — 808 (6 ) Total $ 2,803 $ (11 ) $ — $ — $ 2,803 $ (11 ) The following table shows the investments’ gross unrealized loss and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2019: Less than 12 Months 12 Months or More Total (in thousands) Fair value Unrealized losses Fair value Unrealized losses Fair value Unrealized losses U.S. Treasury securities, obligations of U.S. Government agencies and Municipalities $ — $ — $ 7,053 $ (39 ) $ 7,053 $ (39 ) Corporate debt — — 998 (8 ) 998 (8 ) Total $ — $ — $ 8,051 $ (47 ) $ 8,051 $ (47 )
Amortized Cost and Fair Value of Fixed Maturity Securities by Contractual Maturity	The amortized cost and estimated fair value of the fixed maturity securities at December 31, 2020 by contractual maturity are set forth below: (in thousands) Amortized cost Fair value Years to maturity: Due in one year or less $ 11,214 $ 11,283 Due after one year through five years 23,348 23,976 Due after five years through ten years 1,000 995 Total $ 35,562 $ 36,254 The amortized cost and estimated fair value of the fixed maturity securities at December 31, 2019 by contractual maturity are set forth below: (in thousands) Amortized cost Fair value Years to maturity: Due in one year or less $ 4,616 $ 4,628 Due after one year through five years 27,195 27,378 Due after five years through ten years — — Total $ 31,811 $ 32,006

Fixed Assets (Tables)

Fixed Assets (Tables)	12 Months Ended
	Dec. 31, 2020
Property Plant And Equipment [Abstract]
Schedule of Fixed Assets	Fixed assets at December 31 consisted of the following: (in thousands) 2020 2019 Furniture, fixtures and equipment $ 259,524 $ 231,005 Leasehold improvements 42,261 42,485 Construction in progress 81,736 38,035 Land, buildings and improvements 8,428 8,400 Total cost 391,949 319,925 Less accumulated depreciation and amortization (190,834 ) (171,298 ) Total $ 201,115 $ 148,627

Accrued Expenses and Other Li_2

Accrued Expenses and Other Liabilities (Tables)	12 Months Ended
	Dec. 31, 2020
Payables And Accruals [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities at December 31 consisted of the following: (in thousands) 2020 2019 Accrued incentive compensation $ 159,356 $ 144,475 Accrued compensation and benefits 41,550 60,260 Lease liability (1) 43,542 43,415 Deferred revenue 53,956 41,180 Reserve for policy cancellations 31,081 18,353 Accrued interest 15,260 10,984 Accrued rent and vendor expenses 6,682 7,422 Other 20,310 11,628 Total $ 371,737 $ 337,717 (1) The Lease liability is the current portion of the Operating lease liabilities as reflected in the Consolidated Balance Sheets as of December 31, 2020 and 2019.

Long-Term Debt (Tables)

Long-Term Debt (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Long-term debt at December 31, 2020 and 2019 consisted of the following: (in thousands) December 31, 2020 December 31, 2019 Current portion of long-term debt: Current portion of 5-year $ 40,000 $ 40,000 Current portion of 5-year expires 2023 30,000 15,000 Total current portion of long-term debt 70,000 55,000 Long-term debt: Note agreements: 4.200% Senior Notes, semi-annual interest payments, balloon due 2024 499,416 499,259 4.500% Senior Notes, semi-annual interest payments, balloon due 2029 349,540 349,484 2.375% Senior Note due 2031, semi-annual interest payments, balloon due 2031 699,252 — Total notes 1,548,208 848,743 Credit agreements: 5-year payments, LIBOR plus up to 1.750%, expires June 28, 2022 250,000 290,000 5-year currently LIBOR plus up to 1.500%, plus commitment fees up to 0.250%, expires June 28, 2022 — 100,000 5-year payments, LIBOR plus up to 1.750%, expires December 21, 2023 240,000 270,000 Total credit agreements 490,000 660,000 Debt issuance costs (contra) (12,302 ) (8,400 ) Total long-term debt less unamortized discount and debt issuance costs 2,025,906 1,500,343 Current portion of long-term debt 70,000 55,000 Total debt $ 2,095,906 $ 1,555,343

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of Components of Provision for Income Taxes	Significant components of the provision for income taxes for the years ended December 31 are as follows: (in thousands) 2020 2019 2018 Current: Federal $ 93,620 $ 85,507 $ 77,694 State 34,123 28,905 25,096 Foreign 325 620 409 Total current provision 128,068 115,032 103,199 Deferred: Federal 11,655 14,994 8,483 State 4,119 (2,587 ) 6,519 Foreign (226 ) (24 ) 6 Total deferred provision 15,548 12,383 15,008 Total tax provision $ 143,616 $ 127,415 $ 118,207
Schedule of Reconciliation of Effective Tax Rate and Federal Statutory Tax Rate	A reconciliation of the differences between the effective tax rate and the federal statutory tax rate for the years ended December 31 is as follows: 2020 2019 2018 Federal statutory tax rate 21.0 % 21.0 % 21.0 % State income taxes, net of federal income tax benefit 5.3 3.8 5.7 Non-deductible employee stock purchase plan expense 0.3 0.3 0.2 Non-deductible meals and entertainment 0.1 0.3 0.3 Non-deductible officers’ compensation 0.3 0.2 0.3 Tax Reform Act deferred tax revaluation and transition tax impact 0.0 0.0 (0.3 ) Stock Vesting under ASU 2016-19 (3.5 ) (1.1 ) (1.4 ) Other, net (0.5 ) (0.3 ) (0.2 ) Effective tax rate 23.0 % 24.2 % 25.6 %
Schedule of Components of Net Deferred Tax Liabilities	Significant components of the Company’s net deferred tax liabilities as of December 31 are as follows: (in thousands) 2020 2019 Non-current deferred tax liabilities: Intangible assets $ 400,335 $ 360,660 Fixed assets 11,740 10,325 ASC 842 ROU Asset 46,730 46,188 Impact of adoption of ASC 606 revenue recognition 19,928 24,687 Net unrealized holding (loss)/gain on available-for-sale securities 176 36 Total non-current deferred tax liabilities 478,909 441,896 Non-current deferred tax assets: Deferred compensation 59,897 52,566 Accruals and reserves 19,497 7,743 ASC 842 lease liabilities 53,150 52,185 Net operating loss carryforwards and 163(j) disallowed carryforwards 3,168 2,377 Valuation allowance for deferred tax assets (1,025 ) (1,252 ) Total non-current deferred tax assets 134,687 113,619 Net non-current deferred tax liability $ 344,222 $ 328,277
Schedule of Reconciliation of Unrecognized Tax Benefits	A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: (in thousands) 2020 2019 2018 Unrecognized tax benefits balance at January 1 $ 1,127 $ 1,639 $ 1,694 Gross increases for tax positions of prior years 848 778 594 Gross decreases for tax positions of prior years (708 ) (791 ) (5 ) Settlements — (499 ) (644 ) Unrecognized tax benefits balance at December 31 $ 1,267 $ 1,127 $ 1,639

Stock Based Compensation (Table

Stock Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2020
Summary of Stock Option Activity	A summary of PSP activity for the years ended December 31, 2020, 2019 and 2018 is as follows: Weighted- average grant date fair value Granted shares Awarded shares Shares not yet awarded Outstanding at January 1, 2018 $ 5.16 1,694,476 1,694,476 — Granted $ — — — — Awarded $ — — — — Vested $ 5.53 (453,860 ) (453,860 ) — Forfeited $ 4.92 (44,524 ) (44,524 ) — Outstanding at December 31, 2018 $ 5.03 1,196,092 1,196,092 — Granted $ — — — — Awarded $ — — — — Vested $ 5.29 (115,040 ) (115,040 ) — Forfeited $ 4.74 (29,760 ) (29,760 ) — Outstanding at December 31, 2019 $ 5.00 1,051,292 1,051,292 — Granted $ — — — — Awarded $ — — — — Vested $ 6.06 (119,072 ) (119,072 ) — Forfeited $ 5.03 (22,392 ) (22,392 ) — Outstanding at December 31, 2020 $ 4.86 909,828 909,828 — A summary of 2010 SIP and 2019 SIP activity for the years ended December 31, 2020, 2019 and 2018 is as follows: Weighted- average grant date fair value Granted shares Awarded shares Shares not yet awarded Outstanding at January 1, 2018 $ 15.58 12,821,990 4,809,604 8,012,386 Granted $ 22.87 1,577,721 454,313 1,123,408 (1) Awarded $ 15.89 — 2,489,905 (2,489,905 ) Vested $ 14.09 (933,916 ) (933,916 ) — Forfeited $ 16.37 (2,363,420 ) (224,587 ) (2,138,833 ) Outstanding at December 31, 2018 $ 16.69 11,102,375 6,595,319 4,507,056 Granted $ 28.53 1,812,047 797,778 1,014,269 (2) Awarded $ 17.26 299,339 1,954,983 (1,655,644 ) Vested $ 14.29 (1,068,211 ) (1,068,211 ) — Forfeited $ 19.09 (503,632 ) (209,293 ) (294,339 ) Outstanding at December 31, 2019 $ 18.10 11,641,918 8,070,576 3,571,342 Granted $ 46.58 970,997 148,015 822,982 (3) Awarded $ 19.71 497,082 1,880,512 (1,383,430 ) Vested $ 15.97 (3,059,619 ) (3,059,619 ) — Forfeited $ 20.75 (356,041 ) (119,637 ) (236,404 ) Outstanding at December 31, 2020 $ 19.89 9,694,337 6,919,847 2,774,490 ( 1 ) Of the 1,123,408 shares of performance-based restricted stock granted in 2018, the payout for 576,886 shares may be increased up to 200% of the target or decreased to zero, subject to the level of performance attained. The amount reflected in the table includes all restricted stock grants at a target payout of 100%. ( 2 ) Of the 1,014,269 shares of performance-based restricted stock granted in 2019, the payout for 501,384 shares may be increased up to 200% of the target or decreased to zero, subject to the level of performance attained. The amount reflected in the table includes all restricted stock grants at a target payout of 100%. (3) Of the 822,982 shares of performance-based restricted stock granted in 20 20 , the payout for 365,606 shares may be increased up to 200 % of the target or decreased to zero , 20,611 shares may be increased up to 120 % of the target or decreased to zero , 15,850 shares may be increased up to 150 % of the target or decreased to zero , and 56,226 shares may be increased up to 150 % or decreased to 50 % of target subject to the level of performance attained. The amount reflected in the table includes all restricted stock grants at a target payout of 100 %.
Summary of Non-Cash Stock-Based Compensation Expense	The non-cash stock-based compensation expense for the years ended December 31 is as follows: (in thousands) 2020 2019 2018 Stock incentive plan $ 50,198 $ 39,626 $ 28,027 Employee stock purchase plan 8,789 6,504 4,744 Performance stock plan 762 864 748 Total $ 59,749 $ 46,994 $ 33,519
2010 Stock Incentive Plan
Schedule of Performance Stock Plan and 2010 Stock Incentive Plan	The following table sets forth information as of December 31, 2020, 2019 and 2018, with respect to the number of time-based restricted shares granted and awarded, the number of performance-based restricted shares granted, and the number of performance-based restricted shares awarded under our Performance Stock Plan and 2010 and 2019 Stock Incentive Plans: Year Time-based restricted stock granted and awarded Performance-based restricted stock granted Performance-based restricted stock awarded 2020 148,015 822,982 (1) 1,880,512 2019 797,778 1,014,269 (2) 1,954,983 2018 454,313 1,123,408 (3) 2,489,905 (1) Of the 822,982 shares of performance-based restricted stock granted in 2020, the payout for 365,606 shares may be increased up to 200% of the target or decreased to zero, 20,611 shares may be increased up to 120% of the target or decreased to zero, 15,850 shares may be increased up to 150% of the target or decreased to zero, and 56,226 shares may be increased up to 150% or decreased to 50% of target subject to the level of performance attained. The amount reflected in the table includes all restricted stock grants at a target payout of 100%. ( 2 ) Of the 1,014,269 shares of performance-based restricted stock granted in 2019, the payout for 501,384 shares may be increased up to 200% of the target or decreased to zero, subject to the level of performance attained. The amount reflected in the table includes all restricted stock grants at a target payout of 100%. ( 3 ) Of the 1,123,408 shares of performance-based restricted stock granted in 2018, the payout for 576,886 shares may be increased up to 200% of the target or decreased to zero, subject to the level of performance attained. The amount reflected in the table includes all restricted stock grants at a target payout of 100%.

Supplemental Disclosures of C_2

Supplemental Disclosures of Cash Flow Information and Non-Cash Financing and Investing Activities (Tables)	12 Months Ended
	Dec. 31, 2020
Supplemental Cash Flow Elements [Abstract]
Summary of Cash Paid for Interest and Income Taxes	The Company’s cash paid during the period for interest and income taxes are summarized as follows: Year Ended December 31, (in thousands) 2020 2019 2018 Cash paid during the period for: Interest $ 52,378 $ 58,290 $ 38,032 Income taxes, net of refunds $ 131,596 $ 109,766 $ 110,350
Summary of Significant Non-Cash Investing and Financing Activities	The Company’s significant non-cash investing and financing activities are summarized as follows: Year Ended December 31, (in thousands) 2020 2019 2018 Other payables issued for purchased customer accounts $ 9,130 $ 12,135 $ 5,462 Estimated acquisition earn-out payables and related charges $ 131,397 $ 82,872 $ 77,378 Notes received on the sale of fixed assets and customer accounts $ — $ 9,903 $ 52
Schedule of Reconciliation of Cash and Cash Equivalents Inclusive of Restricted Cash	The following is a reconciliation of cash and cash equivalents inclusive of restricted cash as of December 31, 2020, 2019 and 2018. Balance as of December 31, (in thousands) 2020 2019 2018 Table to reconcile cash and cash equivalents inclusive of restricted cash Cash and cash equivalents $ 817,398 $ 542,174 $ 438,961 Restricted cash 454,517 420,801 338,635 Total cash and cash equivalents inclusive of restricted cash at the end of the period $ 1,271,915 $ 962,975 $ 777,596

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Schedule of Balances and Classification of Operating Lease Right-of-Use Assets and Operating Lease Liabilities within Condensed Consolidated Balance Sheets	The balances and classification of operating lease right-of-use assets and operating lease liabilities within the Condensed Consolidated Balance Sheets as of December 31, 2020 and 2019 is as follows: (in thousands) December 31, 2020 December 31, 2019 Balance Sheet Assets: Operating lease right-of-use assets 186,998 184,288 Total assets Operating lease assets $ 186,998 $ 184,288 Liabilities: Current operating lease liabilities Accrued expenses and other liabilities 43,542 43,415 Non-current operating lease liabilities Operating lease liabilities 172,935 167,855 Total liabilities $ 216,477 $ 211,270
Schedule of Components of Lease Cost for Operating Leases	The components of lease cost for operating leases for the 12 months ended December 31, 2020 and 2019 were: (in thousands) Twelve Months Ended December 31, 2020 Twelve Months Ended December 31, 2019 Operating leases: Lease cost $ 53,821 $ 49,872 Variable lease cost 3,739 3,819 Short term lease cost 468 267 Operating lease cost $ 58,028 $ 53,958 Sublease income (1,798 ) (1,386 ) Total lease cost net $ 56,230 $ 52,572
Schedule of Weighted Average Remaining Lease Term and Weighted Average Discount Rate for Operating Leases	The weighted average remaining lease term and the weighted average discount rate for operating leases as of December 31, 2020 were: Weighted-average remaining lease term 5.94 Weighted-average discount rate 3.32
Schedule of Maturities of Operating Lease Liabilities	Maturities of the operating lease liabilities by fiscal year at December 31, 2020 for the Company's operating leases are as follows: (in thousands) Operating Leases 2021 $ 49,923 2022 46,447 2023 39,251 2024 31,033 2025 22,921 Thereafter 49,687 Total undiscounted lease payments 239,262 Less: Imputed interest 22,785 Present value of future lease payments $ 216,477
Schedule of Supplemental Cash Flow Information	Supplemental cash flow information for operating leases: (in thousands) Twelve months ended December 31, 2020 Twelve months ended December 31, 2019 Cash paid for amounts included in measurement of liabilities Operating cash flows from operating leases $ 54,946 $ 51,894 Right-of-use assets obtained in exchange for new operating liabilities $ 45,750 $ 46,730

Quarterly Operating Results (Ta

Quarterly Operating Results (Tables)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Operating Results	Quarterly operating results for 2020 and 2019 were as follows: (in thousands, except per share data) First Quarter Second Quarter Third Quarter Fourth Quarter 2020 Total revenues $ 698,495 $ 598,806 $ 673,962 $ 642,111 Total expenses $ 493,242 $ 469,405 $ 515,434 $ 511,195 Income before income taxes $ 205,253 $ 129,401 $ 158,528 $ 130,916 Net income $ 152,400 $ 96,784 $ 133,979 $ 97,320 Net income per share: Basic $ 0.54 $ 0.34 $ 0.47 $ 0.34 Diluted $ 0.54 $ 0.34 $ 0.47 $ 0.34 2019 Total revenues $ 619,280 $ 575,219 $ 618,683 $ 578,989 Total expenses $ 470,760 $ 451,697 $ 466,845 $ 476,940 Income before income taxes $ 148,520 $ 123,522 $ 151,838 $ 102,049 Net income $ 113,896 $ 92,593 $ 115,506 $ 76,519 Net income per share: Basic $ 0.41 $ 0.33 $ 0.41 $ 0.27 Diluted $ 0.40 $ 0.33 $ 0.41 $ 0.27

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Summarized Financial Information Reportable Segments	Summarized financial information concerning the Company’s reportable segments is shown in the following table. The “Other” column includes any income and expenses not allocated to reportable segments and corporate-related items, including the intercompany interest expense charge to the reporting segment. In addition, the total assets balance in “Other” is negative, reflecting the historical accumulation of the purchase price for acquisitions which are funded at the Corporate level, net of a portion returned to Corporate through intercompany interest charges, as well as the historical accumulation of payments for income taxes, dividends, and share repurchases which are paid by Corporate, but not pushed down to the segments. Year Ended December 31, 2020 (in thousands) Retail National Programs Wholesale Brokerage Services Other Total Total revenues $ 1,472,766 $ 610,640 $ 352,797 $ 174,012 $ 3,160 $ 2,613,375 Investment income $ 163 $ 756 $ 184 $ — $ 1,708 $ 2,811 Amortization $ 67,315 $ 27,166 $ 8,481 $ 5,561 $ — $ 108,523 Depreciation $ 9,071 $ 8,658 $ 1,948 $ 1,424 $ 5,175 $ 26,276 Interest expense $ 85,968 $ 20,597 $ 10,281 $ 4,142 $ (62,015 ) $ 58,973 Income before income taxes $ 262,245 $ 182,892 $ 93,593 $ 27,994 $ 57,375 $ 624,099 Total assets $ 7,093,627 $ 3,510,983 $ 1,791,717 $ 480,440 $ (3,910,275 ) $ 8,966,492 Capital expenditures $ 13,175 $ 7,208 $ 3,324 $ 1,424 $ 45,569 $ 70,700 Year Ended December 31, 2019 (in thousands) Retail National Programs Wholesale Brokerage Services Other Total Total revenues $ 1,367,261 $ 518,384 $ 310,087 $ 193,781 $ 2,658 $ 2,392,171 Investment income $ 149 $ 1,397 $ 178 $ 139 $ 3,917 $ 5,780 Amortization $ 63,146 $ 25,482 $ 11,191 $ 5,479 $ — $ 105,298 Depreciation $ 7,390 $ 6,791 $ 1,674 $ 1,229 $ 6,333 $ 23,417 Interest expense $ 87,295 $ 16,690 $ 4,756 $ 4,404 $ (49,485 ) $ 63,660 Income before income taxes $ 222,875 $ 143,737 $ 82,739 $ 40,337 $ 36,241 $ 525,929 Total assets $ 6,413,459 $ 3,110,368 $ 1,390,250 $ 481,336 $ (3,772,592 ) $ 7,622,821 Capital expenditures $ 12,497 $ 10,365 $ 6,171 $ 804 $ 43,271 $ 73,108 Year Ended December 31, 2018 (in thousands) Retail National Programs Wholesale Brokerage Services Other Total Total revenues $ 1,042,763 $ 494,463 $ 287,014 $ 189,246 $ 760 $ 2,014,246 Investment income $ 2 $ 506 $ 165 $ 205 $ 1,868 $ 2,746 Amortization $ 44,386 $ 25,954 $ 11,391 $ 4,813 $ — $ 86,544 Depreciation $ 5,289 $ 5,486 $ 1,628 $ 1,558 $ 8,873 $ 22,834 Interest expense $ 35,969 $ 26,181 $ 5,254 $ 2,869 $ (29,693 ) $ 40,580 Income before income taxes $ 217,845 $ 117,375 $ 70,171 $ 34,508 $ 22,563 $ 462,462 Total assets $ 5,850,045 $ 2,940,097 $ 1,283,877 $ 471,572 $ (3,856,923 ) $ 6,688,668 Capital expenditures $ 6,858 $ 12,391 $ 2,518 $ 1,525 $ 18,228 $ 41,520

Insurance Company WNFIC (Tables

Insurance Company WNFIC (Tables)	12 Months Ended
	Dec. 31, 2020
Reinsurance Disclosures [Abstract]
Effects of Reinsurance on Premiums Written and Earned	The effects of reinsurance on premiums written and earned at December 31 are as follows: 2020 2019 (in thousands) Written Earned Written Earned Direct premiums $ 728,109 $ 716,515 $ 697,072 $ 668,971 Assumed premiums — — — — Ceded premiums 728,093 716,499 697,059 668,958 Net premiums $ 16 $ 16 $ 13 $ 13

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details)	12 Months Ended
	Dec. 31, 2020USD ($)Segment	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Number of reportable segments | Segment	4
Average Annual EBITDA, Operating Profit Earned Period Maximum	3 years
Accumulated impairment losses	$ 0
Goodwill impairment loss	0	$ 0	$ 0
Long-term Debt, Fair Value	1,548,200,000	$ 1,548,200,000
Revolving and term loan	560,000,000
Amounts due from reinsurance carriers	$ 0
Minimum
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Finite-Lived Intangible Asset, Useful Life	3 years
Maximum
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Property, Plant and Equipment, Useful Life	39 years
Finite-Lived Intangible Asset, Useful Life	15 years
ASU 2018-15
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Change in accounting principle, accounting standards update, adopted	true
Change in accounting principle, accounting standards update, adoption date	Jan. 1, 2020
Change in accounting principle, accounting standards update, immaterial effect	true
ASU 2017-04
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Change in accounting principle, accounting standards update, adopted	true
Change in accounting principle, accounting standards update, adoption date	Jan. 1, 2020
Impairment charges	$ 0
ASU 2016-13
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Change in accounting principle, accounting standards update, adopted	true
Change in accounting principle, accounting standards update, adoption date	Jan. 1, 2020
Change in accounting principle, accounting standards update, immaterial effect	true

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Reconciliation between Basic and Diluted Weighted Average Shares Outstanding (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Net income	$ 97,320	$ 133,979	$ 96,784	$ 152,400	$ 76,519	$ 115,506	$ 92,593	$ 113,896	$ 480,483	$ 398,514	$ 344,255
Net income attributable to unvested awarded performance stock									(15,197)	(12,873)	(8,297)
Net income attributable to common shares									$ 465,286	$ 385,641	$ 335,958
Weighted average number of common shares outstanding – basic									283,294	281,566	277,663
Less unvested awarded performance stock included in weighted average number of common shares outstanding – basic									(8,960)	(9,095)	(6,692)
Weighted average number of common shares outstanding for basic earnings per common share									274,334	272,471	270,971
Dilutive effect of stock options									1,533	2,145	4,550
Weighted average number of shares outstanding – diluted									275,867	274,616	275,521
Net income per share:
Basic (in dollars per share)	$ 0.34	$ 0.47	$ 0.34	$ 0.54	$ 0.27	$ 0.41	$ 0.33	$ 0.41	$ 1.70	$ 1.42	$ 1.24
Diluted (in dollars per share)	$ 0.34	$ 0.47	$ 0.34	$ 0.54	$ 0.27	$ 0.41	$ 0.33	$ 0.40	$ 1.69	$ 1.40	$ 1.22

Revenues - Schedule of Disaggre

Revenues - Schedule of Disaggregated by Revenue (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation Of Revenue [Line Items]
Investment Income, Nonoperating									$ 2,811	$ 5,780	$ 2,746
Other income									4,456	1,654	1,643
Total revenues	$ 642,111	$ 673,962	$ 598,806	$ 698,495	$ 578,989	$ 618,683	$ 575,219	$ 619,280	2,613,375	2,392,171	2,014,246
Core Commission Revenue
Disaggregation Of Revenue [Line Items]
Fees and Commissions, Other									1,751,414	1,574,480
Fee Revenue
Disaggregation Of Revenue [Line Items]
Fees and Commissions, Other									674,009	646,766
Incentive Commissions Revenue
Disaggregation Of Revenue [Line Items]
Fees and Commissions, Other									93,557	81,260
Profit-Sharing Contingent Commission Revenue
Disaggregation Of Revenue [Line Items]
Fees and Commissions, Other									70,934	59,166
Guaranteed Supplemental Commission Revenue
Disaggregation Of Revenue [Line Items]
Fees and Commissions, Other									16,194	23,065
Retail | Core Commission Revenue
Disaggregation Of Revenue [Line Items]
Fees and Commissions, Other									1,054,619	994,170
Retail | Fee Revenue
Disaggregation Of Revenue [Line Items]
Fees and Commissions, Other									275,900	246,135
Retail | Incentive Commissions Revenue
Disaggregation Of Revenue [Line Items]
Fees and Commissions, Other									89,920	80,505
Retail | Profit-Sharing Contingent Commission Revenue
Disaggregation Of Revenue [Line Items]
Fees and Commissions, Other									35,785	34,150
Retail | Guaranteed Supplemental Commission Revenue
Disaggregation Of Revenue [Line Items]
Fees and Commissions, Other									15,128	11,056
National Programs | Core Commission Revenue
Disaggregation Of Revenue [Line Items]
Fees and Commissions, Other									422,916	338,058
National Programs | Fee Revenue
Disaggregation Of Revenue [Line Items]
Fees and Commissions, Other									159,337	151,298
National Programs | Incentive Commissions Revenue
Disaggregation Of Revenue [Line Items]
Fees and Commissions, Other									549	(524)
National Programs | Profit-Sharing Contingent Commission Revenue
Disaggregation Of Revenue [Line Items]
Fees and Commissions, Other									27,278	17,517
National Programs | Guaranteed Supplemental Commission Revenue
Disaggregation Of Revenue [Line Items]
Fees and Commissions, Other									(238)	10,566
Wholesale Brokerage | Core Commission Revenue
Disaggregation Of Revenue [Line Items]
Fees and Commissions, Other									273,878	242,380
Wholesale Brokerage | Fee Revenue
Disaggregation Of Revenue [Line Items]
Fees and Commissions, Other									66,051	56,852
Wholesale Brokerage | Incentive Commissions Revenue
Disaggregation Of Revenue [Line Items]
Fees and Commissions, Other									3,057	1,252
Wholesale Brokerage | Profit-Sharing Contingent Commission Revenue
Disaggregation Of Revenue [Line Items]
Fees and Commissions, Other									7,871	7,499
Wholesale Brokerage | Guaranteed Supplemental Commission Revenue
Disaggregation Of Revenue [Line Items]
Fees and Commissions, Other									1,304	1,443
Services | Fee Revenue
Disaggregation Of Revenue [Line Items]
Fees and Commissions, Other									174,012	193,641
Operating Segments | Retail
Disaggregation Of Revenue [Line Items]
Investment Income, Nonoperating									163	149	2
Other income									1,251	1,096
Total revenues									1,472,766	1,367,261	1,042,763
Operating Segments | National Programs
Disaggregation Of Revenue [Line Items]
Investment Income, Nonoperating									756	1,397	506
Other income									42	72
Total revenues									610,640	518,384	494,463
Operating Segments | Wholesale Brokerage
Disaggregation Of Revenue [Line Items]
Investment Income, Nonoperating									184	178	165
Other income									452	483
Total revenues									352,797	310,087	287,014
Operating Segments | Services
Disaggregation Of Revenue [Line Items]
Investment Income, Nonoperating									0	139	205
Other income										1
Total revenues									174,012	193,781	$ 189,246
Corporate, Non-Segment
Disaggregation Of Revenue [Line Items]
Investment Income, Nonoperating									1,708	3,917
Other income									2,711	2
Total revenues									3,160	2,658
Corporate, Non-Segment | Core Commission Revenue
Disaggregation Of Revenue [Line Items]
Fees and Commissions, Other									1	(128)
Corporate, Non-Segment | Fee Revenue
Disaggregation Of Revenue [Line Items]
Fees and Commissions, Other									(1,291)	(1,160)
Corporate, Non-Segment | Incentive Commissions Revenue
Disaggregation Of Revenue [Line Items]
Fees and Commissions, Other									$ 31	$ 27

Revenues - Schedule of Balances

Revenues - Schedule of Balances of Contract Assets and Contract Liabilities Arising from contracts with Customers (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Revenues [Abstract]
Contract assets	$ 308,755	$ 289,609
Contract liabilities	$ 80,997	$ 58,126

Revenues - Additional Informati

Revenues - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Contract with Customer, Liability	$ 54,000	$ 41,200
Contract with Customer, Liability, Noncurrent	27,000	16,900
Contract with Customer, Asset, Net	308,755	289,609
Contract with Customer, Liability	80,997	58,126
Deferred Revenue, Revenue Recognized	8,900	17,200
Variable consideration, Received	18,100
Offset of revised estimated variable consideration	7,100
Other adjustments	2,100
Deferred Costs	$ 42,200	26,900
Cost to Obtain
Segment Reporting Information [Line Items]
Capitalized contract cost, amortization period	15 years
Deferred Costs	$ 17,800	15,100
Capitalized Contract Cost, Amortization	2,500	1,400
Cost to Fulfill
Segment Reporting Information [Line Items]
Deferred Costs	77,800	73,300
Capitalized Contract Cost, Amortization	1,200	3,300
2020 Acquisition
Segment Reporting Information [Line Items]
Contract with Customer, Asset, Net	11,500
Contract with Customer, Liability	$ 20,000
2019 Acquisition
Segment Reporting Information [Line Items]
Contract with Customer, Asset, Net		6,500
Contract with Customer, Liability		$ 9,300

Business Combinations - Additio

Business Combinations - Additional Information (Details)	12 Months Ended
	Dec. 31, 2020USD ($)Acquisition	Dec. 31, 2019USD ($)Acquisition	Dec. 31, 2018USD ($)Acquisition	Dec. 12, 2018USD ($)	Dec. 31, 2017USD ($)
Business Acquisition [Line Items]
Number of acquisitions | Acquisition	25	27
Aggregate purchase price of acquisitions	$ (3,500,000)	$ 4,100,000	$ 21,400
Payments to Acquire Businesses, Gross	722,515,000	356,260,000	934,928,000
Goodwill, Acquired During Period	648,095,000	328,546,000	717,700,000
Goodwill currently deductible for income tax purposes	516,700,000	245,600,000	640,300,000
Goodwill related to the recorded earn-out payables	131,400,000	82,900,000	77,400,000
Total revenues related to acquisitions	93,900,000	49,100,000	82,400,000
Income before income taxes related to acquisitions	7,500,000	3,400,000	6,300,000
Maximum Future Contingency payments Acquisitions	544,700,000
Estimated acquisition earn-out payables	258,943,000	161,513,000	89,924,000	$ 89,900,000	$ 36,175,000
Other Noncurrent Liabilities
Business Acquisition [Line Items]
Estimated acquisition earn-out payables	179,700,000	143,600,000		68,800,000
Accounts payable
Business Acquisition [Line Items]
Estimated acquisition earn-out payables	79,200,000	17,900,000		$ 21,100,000
Retail
Business Acquisition [Line Items]
Goodwill, Acquired During Period	299,961,000	302,640,000	676,900,000
National Programs
Business Acquisition [Line Items]
Goodwill, Acquired During Period	163,070,000	74,000	18,700,000
Wholesale Brokerage
Business Acquisition [Line Items]
Goodwill, Acquired During Period	184,956,000	6,479,000	5,500,000
Services
Business Acquisition [Line Items]
Goodwill, Acquired During Period	108,000	19,353,000
Goodwill adjusted amount	$ 100,000	$ 19,300,000	$ 16,500,000
Purchased Customer Accounts
Business Acquisition [Line Items]
Weighted average life (years)	15 years	15 years	15 years
Non-compete Agreements
Business Acquisition [Line Items]
Weighted average life (years)	5 years	5 years	5 years
Business Combinations - Asset Deals
Business Acquisition [Line Items]
Number of acquisitions | Acquisition	20	22	20
Business Combinations - Stock Deals
Business Acquisition [Line Items]
Number of acquisitions | Acquisition	1	1	3
Book of Business Purchases
Business Acquisition [Line Items]
Number of acquisitions | Acquisition	4	4	1

Business Combinations - Purchas

Business Combinations - Purchase Price Allocation for Current Year Acquisitions and Adjustments Made for Prior Year Acquisitions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Combination Separately Recognized Transactions [Line Items]
Cash paid	$ 722,515	$ 356,260	$ 934,928
Common Stock Issued	30,120	20,000	100,000
Other payable	9,130	12,135	5,462
Recorded earn-out payable	131,397	82,872	77,377
Net assets acquired	893,162	471,267	1,117,767
Maximum potential earn- out payable	$ 273,450	162,023	147,668
Special Risk Insurance Managers Ltd. (Special Risk) | National Programs
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition	Jan. 1, 2020
Cash paid	$ 70,156
Recorded earn-out payable	9,859
Net assets acquired	80,015
Maximum potential earn- out payable	14,650
Texas All Risk General Agency, Inc. et al (Texas Risk)
Business Combination Separately Recognized Transactions [Line Items]
Net assets acquired	$ 10,980
Texas All Risk General Agency, Inc. et al (Texas Risk) | Wholesale Brokerage
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition	Jan. 1, 2020
Cash paid	$ 10,511
Other payable	159
Recorded earn-out payable	310
Net assets acquired	10,980
Maximum potential earn- out payable	1,150
The Colonial Group, Inc. et al (Colonial)
Business Combination Separately Recognized Transactions [Line Items]
Net assets acquired	$ 37,141
The Colonial Group, Inc. et al (Colonial) | Wholesale Brokerage
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition	Mar. 1, 2020
Cash paid	$ 29,037
Other payable	527
Recorded earn-out payable	7,577
Net assets acquired	37,141
Maximum potential earn- out payable	10,150
RLA Insurance Intermediaries, LLC (RLA)
Business Combination Separately Recognized Transactions [Line Items]
Net assets acquired	$ 54,969
RLA Insurance Intermediaries, LLC (RLA) | Wholesale Brokerage
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition	Mar. 1, 2020
Cash paid	$ 42,496
Other payable	786
Recorded earn-out payable	11,687
Net assets acquired	54,969
Maximum potential earn- out payable	22,500
Dealer Financial Services of N.C., LLC d/b/a The Sterling Group (Sterling)
Business Combination Separately Recognized Transactions [Line Items]
Net assets acquired	$ 23,770
Dealer Financial Services of N.C., LLC d/b/a The Sterling Group (Sterling) | Retail
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition	Apr. 1, 2020
Cash paid	$ 19,341
Other payable	300
Recorded earn-out payable	4,129
Net assets acquired	23,770
Maximum potential earn- out payable	5,400
LP Insurance Services, LLC (LP)
Business Combination Separately Recognized Transactions [Line Items]
Net assets acquired	$ 149,660
LP Insurance Services, LLC (LP) | National Programs
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition	May 1, 2020
Cash paid	$ 115,948
Common Stock Issued	10,000
Other payable	318
Recorded earn-out payable	23,394
Net assets acquired	149,660
Maximum potential earn- out payable	75,850
First Resource, Inc. (First)
Business Combination Separately Recognized Transactions [Line Items]
Net assets acquired	$ 14,926
First Resource, Inc. (First) | Retail
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition	Jul. 1, 2020
Cash paid	$ 10,700
Other payable	450
Recorded earn-out payable	3,776
Net assets acquired	14,926
Maximum potential earn- out payable	5,800
Buiten & Associates, LLC (Buiten)
Business Combination Separately Recognized Transactions [Line Items]
Net assets acquired	$ 46,848
Buiten & Associates, LLC (Buiten) | Retail
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition	Aug. 1, 2020
Cash paid	$ 38,225
Other payable	1,175
Recorded earn-out payable	7,448
Net assets acquired	46,848
Maximum potential earn- out payable	$ 14,175
Amity Insurance, Inc. (Amity) | Retail
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition	Aug. 1, 2020
Cash paid	$ 14,820
Common Stock Issued	2,000
Other payable	200
Recorded earn-out payable	1,860
Net assets acquired	18,880
Maximum potential earn- out payable	4,060
Frank E. Neal & Co., Inc. (Neal)
Business Combination Separately Recognized Transactions [Line Items]
Net assets acquired	$ 41,786
Frank E. Neal & Co., Inc. (Neal) | Retail
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition	Sep. 1, 2020
Cash paid	$ 32,589
Common Stock Issued	3,120
Other payable	345
Recorded earn-out payable	5,732
Net assets acquired	41,786
Maximum potential earn- out payable	10,325
BrookStone Insurance Group, LLC (BrookStone)
Business Combination Separately Recognized Transactions [Line Items]
Net assets acquired	$ 13,088
BrookStone Insurance Group, LLC (BrookStone) | Retail
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition	Sep. 1, 2020
Cash paid	$ 12,030
Recorded earn-out payable	1,058
Net assets acquired	13,088
Maximum potential earn- out payable	1,878
Other Acquisitions | Various
Business Combination Separately Recognized Transactions [Line Items]
Cash paid	14,888	36,665	30,293
Other payable	490	2,391	1,367
Recorded earn-out payable	8,498	9,026	5,896
Net assets acquired	23,876	48,082	37,556
Maximum potential earn- out payable	$ 12,337	$ 14,454	12,998
VAS GenPar, LLC (VAS) | Retail
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition	Oct. 1, 2020
Cash paid	$ 114,249
Common Stock Issued	15,000
Recorded earn-out payable	23,274
Net assets acquired	152,523
Maximum potential earn- out payable	48,000
Bright & Associates, Inc. (Bright)
Business Combination Separately Recognized Transactions [Line Items]
Net assets acquired	$ 17,639
Bright & Associates, Inc. (Bright) | Retail
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition	Oct. 1, 2020
Cash paid	$ 12,528
Other payable	1,257
Recorded earn-out payable	3,854
Net assets acquired	17,639
Maximum potential earn- out payable	$ 5,775
J.E. Brown & Associates Insurance Services, Inc. (J.E. Brown) | Wholesale Brokerage
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition	Oct. 1, 2020
Cash paid	$ 33,331
Other payable	1,030
Recorded earn-out payable	5,947
Net assets acquired	40,308
Maximum potential earn- out payable	10,425
CoverHound, Inc. and CyberPolicy, Inc. (CoverHound)
Business Combination Separately Recognized Transactions [Line Items]
Net assets acquired	$ 28,195
CoverHound, Inc. and CyberPolicy, Inc. (CoverHound) | Retail
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition	Nov. 1, 2020
Cash paid	$ 27,595
Other payable	600
Net assets acquired	28,195
MAJ Companies, Ltd. (MAJ)
Business Combination Separately Recognized Transactions [Line Items]
Net assets acquired	$ 21,378
MAJ Companies, Ltd. (MAJ) | Retail
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition	Dec. 1, 2020
Cash paid	$ 19,072
Other payable	300
Recorded earn-out payable	2,006
Net assets acquired	21,378
Maximum potential earn- out payable	$ 6,475
South & Western General Agency, Inc. (South & Western) | Wholesale Brokerage
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition	Dec. 1, 2020
Cash paid	$ 69,673
Other payable	1,193
Recorded earn-out payable	7,294
Net assets acquired	78,160
Maximum potential earn- out payable	18,000
Berry Insurance Group, Inc. (Berry)
Business Combination Separately Recognized Transactions [Line Items]
Net assets acquired	$ 39,020
Berry Insurance Group, Inc. (Berry) | Retail
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition	Dec. 31, 2020
Cash paid	$ 35,326
Recorded earn-out payable	3,694
Net assets acquired	39,020
Maximum potential earn- out payable	$ 6,500
Smith Insurance Associates, Inc. (Smith) | Retail
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition		Feb. 1, 2019
Cash paid		$ 20,129
Recorded earn-out payable		2,704
Net assets acquired		22,833
Maximum potential earn- out payable		4,550
Donald P. Pipino Company, LTD (Pipino)
Business Combination Separately Recognized Transactions [Line Items]
Net assets acquired		$ 26,376
Donald P. Pipino Company, LTD (Pipino) | Retail
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition		Feb. 1, 2019
Cash paid		$ 16,420
Other payable		135
Recorded earn-out payable		9,821
Net assets acquired		26,376
Maximum potential earn- out payable		12,996
AGA Enterprises, LLC d/b/a Cossio Insurance Agency (Cossio)
Business Combination Separately Recognized Transactions [Line Items]
Net assets acquired		$ 14,696
AGA Enterprises, LLC d/b/a Cossio Insurance Agency (Cossio) | Retail
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition		Mar. 1, 2019
Cash paid		$ 13,990
Other payable		10
Recorded earn-out payable		696
Net assets acquired		14,696
Maximum potential earn- out payable		2,000
Medval, LLC (Medval)
Business Combination Separately Recognized Transactions [Line Items]
Net assets acquired		$ 30,890
Medval, LLC (Medval) | Services
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition		Mar. 1, 2019
Cash paid		$ 29,106
Other payable		100
Recorded earn-out payable		1,684
Net assets acquired		30,890
Maximum potential earn- out payable		2,500
United Development Systems, Inc. (United)
Business Combination Separately Recognized Transactions [Line Items]
Net assets acquired		$ 22,643
United Development Systems, Inc. (United) | Retail
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition		May 1, 2019
Cash paid		$ 18,987
Other payable		388
Recorded earn-out payable		3,268
Net assets acquired		22,643
Maximum potential earn- out payable		8,625
Twinbrook Insurance Brokerage, Inc. (Twinbrook)
Business Combination Separately Recognized Transactions [Line Items]
Net assets acquired		$ 28,216
Twinbrook Insurance Brokerage, Inc. (Twinbrook) | Retail
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition		Jun. 1, 2019
Cash paid		$ 26,251
Other payable		400
Recorded earn-out payable		1,565
Net assets acquired		28,216
Maximum potential earn- out payable		5,073
Innovative Risk Solutions, Inc. (IRS)
Business Combination Separately Recognized Transactions [Line Items]
Net assets acquired		$ 35,009
Innovative Risk Solutions, Inc. (IRS) | Retail
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition		Jul. 1, 2019
Cash paid		$ 26,435
Other payable		2,465
Recorded earn-out payable		6,109
Net assets acquired		35,009
Maximum potential earn- out payable		9,000
WBR Insurance Agency, LLC et al (WBR)
Business Combination Separately Recognized Transactions [Line Items]
Net assets acquired		$ 13,067
WBR Insurance Agency, LLC et al (WBR) | Retail
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition		Aug. 1, 2019
Cash paid		$ 10,667
Other payable		203
Recorded earn-out payable		2,197
Net assets acquired		13,067
Maximum potential earn- out payable		4,575
West Ridge Insurance Agency, Inc. d/b/a Yozell Associates (Yozell)
Business Combination Separately Recognized Transactions [Line Items]
Net assets acquired		$ 14,268
West Ridge Insurance Agency, Inc. d/b/a Yozell Associates (Yozell) | Retail
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition		Aug. 1, 2019
Cash paid		$ 13,030
Other payable		470
Recorded earn-out payable		768
Net assets acquired		14,268
Maximum potential earn- out payable		6,730
CKP Insurance, LLC (CKP)
Business Combination Separately Recognized Transactions [Line Items]
Net assets acquired		$ 151,283
CKP Insurance, LLC (CKP) | Retail
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition		Aug. 1, 2019
Cash paid		$ 89,190
Common Stock Issued		20,000
Other payable		4,000
Recorded earn-out payable		38,093
Net assets acquired		151,283
Maximum potential earn- out payable		$ 76,500
Poole Professional Ltd. Insurance Agents and Brokers et al (Poole) | Retail
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition		Oct. 1, 2019
Cash paid		$ 32,358
Other payable		75
Recorded earn-out payable		4,556
Net assets acquired		36,989
Maximum potential earn- out payable		6,850
VerHagen Glendenning & Walker LLP (VGW)
Business Combination Separately Recognized Transactions [Line Items]
Net assets acquired		$ 26,915
VerHagen Glendenning & Walker LLP (VGW) | Retail
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition		Oct. 1, 2019
Cash paid		$ 23,032
Other payable		1,498
Recorded earn-out payable		2,385
Net assets acquired		26,915
Maximum potential earn- out payable		$ 8,170
Opus
Business Combination Separately Recognized Transactions [Line Items]
Net assets acquired			$ 22,984
Opus | Retail
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition			Feb. 1, 2018
Cash paid			$ 20,400
Other payable			200
Recorded earn-out payable			2,384
Net assets acquired			22,984
Maximum potential earn- out payable			3,600
Kerxton
Business Combination Separately Recognized Transactions [Line Items]
Net assets acquired			$ 16,746
Kerxton | Retail
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition			Mar. 1, 2018
Cash paid			$ 13,176
Other payable			1,490
Recorded earn-out payable			2,080
Net assets acquired			16,746
Maximum potential earn- out payable			2,920
ADG
Business Combination Separately Recognized Transactions [Line Items]
Net assets acquired			$ 47,575
ADG | Retail
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition			May 1, 2018
Cash paid			$ 29,471
Other payable			559
Recorded earn-out payable			17,545
Net assets acquired			47,575
Maximum potential earn- out payable			20,000
Servco
Business Combination Separately Recognized Transactions [Line Items]
Net assets acquired			$ 77,179
Servco | Retail
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition			Jun. 1, 2018
Cash paid			$ 76,245
Recorded earn-out payable			934
Net assets acquired			77,179
Maximum potential earn- out payable			7,000
Tower Hill
Business Combination Separately Recognized Transactions [Line Items]
Net assets acquired			$ 21,488
Tower Hill | National Programs
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition			Jul. 1, 2018
Cash paid			$ 20,300
Recorded earn-out payable			1,188
Net assets acquired			21,488
Maximum potential earn- out payable			7,700
HSR
Business Combination Separately Recognized Transactions [Line Items]
Net assets acquired			$ 22,123
HSR | National Programs
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition			Jul. 1, 2018
Cash paid			$ 20,132
Recorded earn-out payable			1,991
Net assets acquired			22,123
Maximum potential earn- out payable			9,000
PDA
Business Combination Separately Recognized Transactions [Line Items]
Net assets acquired			$ 24,843
PDA | Services
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition			Jul. 1, 2018
Cash paid			$ 15,025
Recorded earn-out payable			9,818
Net assets acquired			24,843
Maximum potential earn- out payable			17,975
F&I
Business Combination Separately Recognized Transactions [Line Items]
Net assets acquired			$ 54,471
F&I | Retail
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition			Sep. 1, 2018
Cash paid			$ 44,940
Other payable			410
Recorded earn-out payable			9,121
Net assets acquired			54,471
Maximum potential earn- out payable			19,500
Rodman
Business Combination Separately Recognized Transactions [Line Items]
Net assets acquired			$ 35,102
Rodman | Retail
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition			Nov. 1, 2018
Cash paid			$ 31,121
Other payable			261
Recorded earn-out payable			3,720
Net assets acquired			35,102
Maximum potential earn- out payable			9,850
Hays
Business Combination Separately Recognized Transactions [Line Items]
Net assets acquired			$ 724,600
Hays | Retail
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition			Nov. 16, 2018
Cash paid			$ 605,000
Common Stock Issued			100,000
Recorded earn-out payable			19,600
Net assets acquired			724,600
Maximum potential earn- out payable			25,000
Dealer Associates
Business Combination Separately Recognized Transactions [Line Items]
Net assets acquired			$ 33,100
Dealer Associates | Retail
Business Combination Separately Recognized Transactions [Line Items]
Effective date of acquisition			Dec. 1, 2018
Cash paid			$ 28,825
Other payable			1,175
Recorded earn-out payable			3,100
Net assets acquired			33,100
Maximum potential earn- out payable			$ 12,125

Business Combinations - Estimat

Business Combinations - Estimated Fair Values of Aggregate Assets and Liabilities Acquired (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Fair Value Of Assets And Liabilities Statement [Line Items]
Cash	$ 27,673	$ 3,217	$ 11,054
Other current assets	22,043	12,956	52,917
Fixed assets	9,387	455	5,829
Goodwill	648,095	328,546	717,710
Other assets	3,652	55	18,588
Total assets acquired	952,024	473,943	1,151,328
Other current liabilities	(32,549)	(2,269)	(32,996)
Other liabilities	(26,313)	(407)	(565)
Deferred income tax, net	(344,222)	(328,277)
Total liabilities assumed	(58,862)	(2,676)	(33,561)
Net assets acquired	893,162	471,267	1,117,767
Special Risk
Fair Value Of Assets And Liabilities Statement [Line Items]
Other current assets	2,477
Fixed assets	345
Goodwill	63,087
Total assets acquired	80,331
Other current liabilities	(316)
Total liabilities assumed	(316)
Net assets acquired	80,015
Texas Risk
Fair Value Of Assets And Liabilities Statement [Line Items]
Other current assets	446
Fixed assets	27
Goodwill	8,940
Total assets acquired	12,660
Other current liabilities	(1,680)
Total liabilities assumed	(1,680)
Net assets acquired	10,980
Colonial
Fair Value Of Assets And Liabilities Statement [Line Items]
Other current assets	1,344
Fixed assets	59
Goodwill	27,845
Total assets acquired	38,496
Other current liabilities	(1,355)
Total liabilities assumed	(1,355)
Net assets acquired	37,141
RLA
Fair Value Of Assets And Liabilities Statement [Line Items]
Fixed assets	55
Goodwill	53,567
Total assets acquired	66,412
Other current liabilities	(11,443)
Total liabilities assumed	(11,443)
Net assets acquired	54,969
Sterling
Fair Value Of Assets And Liabilities Statement [Line Items]
Other current assets	612
Fixed assets	16
Goodwill	17,339
Total assets acquired	23,950
Other current liabilities	(180)
Total liabilities assumed	(180)
Net assets acquired	23,770
LP
Fair Value Of Assets And Liabilities Statement [Line Items]
Other current assets	3,162
Fixed assets	1,877
Goodwill	99,983
Total assets acquired	149,854
Other current liabilities	(10)
Other liabilities	(184)
Total liabilities assumed	(194)
Net assets acquired	149,660
First
Fair Value Of Assets And Liabilities Statement [Line Items]
Other current assets	302
Fixed assets	1
Goodwill	9,523
Total assets acquired	14,942
Other current liabilities	(16)
Total liabilities assumed	(16)
Net assets acquired	14,926
Buiten
Fair Value Of Assets And Liabilities Statement [Line Items]
Other current assets	2,595
Fixed assets	43
Goodwill	33,641
Total assets acquired	47,693
Other current liabilities	(845)
Total liabilities assumed	(845)
Net assets acquired	46,848
Amity
Fair Value Of Assets And Liabilities Statement [Line Items]
Other current assets	653
Fixed assets	58
Goodwill	15,454
Total assets acquired	21,800
Other current liabilities	(2,920)
Total liabilities assumed	(2,920)
Net assets acquired	18,880
Neal
Fair Value Of Assets And Liabilities Statement [Line Items]
Other current assets	2,337
Fixed assets	46
Goodwill	28,929
Other assets	274
Total assets acquired	44,842
Other current liabilities	(3,056)
Total liabilities assumed	(3,056)
Net assets acquired	41,786
BrookStone Insurance Group, LLC (BrookStone)
Fair Value Of Assets And Liabilities Statement [Line Items]
Other current assets	527
Fixed assets	22
Goodwill	8,585
Other assets	290
Total assets acquired	13,134
Other current liabilities	(46)
Total liabilities assumed	(46)
Net assets acquired	13,088
South & Western
Fair Value Of Assets And Liabilities Statement [Line Items]
Fixed assets	149
Goodwill	63,128
Total assets acquired	81,811
Other current liabilities	(3,651)
Total liabilities assumed	(3,651)
Net assets acquired	78,160
Berry Insurance Group, Inc. (Berry)
Fair Value Of Assets And Liabilities Statement [Line Items]
Fixed assets	30
Goodwill	29,702
Total assets acquired	39,444
Other current liabilities	(424)
Total liabilities assumed	(424)
Net assets acquired	39,020
VAS
Fair Value Of Assets And Liabilities Statement [Line Items]
Cash	27,673
Other current assets	5,486
Fixed assets	138
Goodwill	100,826
Total assets acquired	182,412
Other current liabilities	(3,760)
Other liabilities	(26,129)
Total liabilities assumed	(29,889)
Net assets acquired	152,523
Other
Fair Value Of Assets And Liabilities Statement [Line Items]
Other current assets	912	(6,786)	323
Fixed assets	25	(130)	100
Goodwill	11,325	34,314	22,712
Other assets	3,088	(732)	754
Total assets acquired	23,996	41,847	39,271
Other current liabilities	(120)	6,235	(1,715)
Total liabilities assumed	(120)	6,235	(1,715)
Net assets acquired	23,876	48,082	37,556
Bright & Associates, Inc. (Bright)
Fair Value Of Assets And Liabilities Statement [Line Items]
Other current assets	402
Fixed assets	23
Goodwill	12,218
Total assets acquired	17,740
Other current liabilities	(101)
Total liabilities assumed	(101)
Net assets acquired	17,639
J.E. Brown
Fair Value Of Assets And Liabilities Statement [Line Items]
Fixed assets	32
Goodwill	31,476
Total assets acquired	41,028
Other current liabilities	(720)
Total liabilities assumed	(720)
Net assets acquired	40,308
CoverHound, Inc. and CyberPolicy, Inc. (CoverHound)
Fair Value Of Assets And Liabilities Statement [Line Items]
Other current assets	375
Fixed assets	6,441
Goodwill	19,524
Total assets acquired	30,018
Other current liabilities	(1,823)
Total liabilities assumed	(1,823)
Net assets acquired	28,195
MAJ Companies, Ltd. (MAJ)
Fair Value Of Assets And Liabilities Statement [Line Items]
Other current assets	413
Goodwill	13,003
Total assets acquired	21,461
Other current liabilities	(83)
Total liabilities assumed	(83)
Net assets acquired	21,378
Smith
Fair Value Of Assets And Liabilities Statement [Line Items]
Other current assets		680
Fixed assets		39
Goodwill		16,042
Total assets acquired		23,302
Other current liabilities		(469)
Total liabilities assumed		(469)
Net assets acquired		22,833
Pipino
Fair Value Of Assets And Liabilities Statement [Line Items]
Other current assets		819
Fixed assets		112
Goodwill		16,765
Other assets		772
Total assets acquired		29,839
Other current liabilities		(3,463)
Total liabilities assumed		(3,463)
Net assets acquired		26,376
Cossio
Fair Value Of Assets And Liabilities Statement [Line Items]
Other current assets		236
Fixed assets		29
Goodwill		10,010
Total assets acquired		14,699
Other current liabilities		(3)
Total liabilities assumed		(3)
Net assets acquired		14,696
Medval
Fair Value Of Assets And Liabilities Statement [Line Items]
Cash		3,217
Other current assets		1,708
Fixed assets		50
Goodwill		19,108
Other assets		15
Total assets acquired		31,399
Other current liabilities		(480)
Other liabilities		(29)
Total liabilities assumed		(509)
Net assets acquired		30,890
United
Fair Value Of Assets And Liabilities Statement [Line Items]
Other current assets		477
Fixed assets		20
Goodwill		15,111
Total assets acquired		22,684
Other current liabilities		(41)
Total liabilities assumed		(41)
Net assets acquired		22,643
Twinbrook
Fair Value Of Assets And Liabilities Statement [Line Items]
Other current assets		919
Fixed assets		85
Goodwill		18,935
Total assets acquired		28,508
Other current liabilities		(292)
Total liabilities assumed		(292)
Net assets acquired		28,216
IRS
Fair Value Of Assets And Liabilities Statement [Line Items]
Other current assets		1,375
Fixed assets		11
Goodwill		24,938
Total assets acquired		35,135
Other current liabilities		(126)
Total liabilities assumed		(126)
Net assets acquired		35,009
WBR
Fair Value Of Assets And Liabilities Statement [Line Items]
Other current assets		449
Fixed assets		10
Goodwill		9,096
Total assets acquired		13,611
Other current liabilities		(166)
Other liabilities		(378)
Total liabilities assumed		(544)
Net assets acquired		13,067
Yozell
Fair Value Of Assets And Liabilities Statement [Line Items]
Other current assets		1,781
Fixed assets		12
Goodwill		8,904
Total assets acquired		14,268
Net assets acquired		14,268
CKP
Fair Value Of Assets And Liabilities Statement [Line Items]
Other current assets		9,170
Fixed assets		193
Goodwill		110,495
Total assets acquired		152,153
Other current liabilities		(870)
Total liabilities assumed		(870)
Net assets acquired		151,283
Poole
Fair Value Of Assets And Liabilities Statement [Line Items]
Other current assets		938
Fixed assets		4
Goodwill		28,233
Total assets acquired		39,567
Other current liabilities		(2,578)
Total liabilities assumed		(2,578)
Net assets acquired		36,989
VGW
Fair Value Of Assets And Liabilities Statement [Line Items]
Other current assets		1,190
Fixed assets		20
Goodwill		16,595
Total assets acquired		26,931
Other current liabilities		(16)
Total liabilities assumed		(16)
Net assets acquired		26,915
Opus
Fair Value Of Assets And Liabilities Statement [Line Items]
Other current assets			1,215
Fixed assets			11
Goodwill			16,414
Other assets			315
Total assets acquired			22,984
Net assets acquired			22,984
Kerxton
Fair Value Of Assets And Liabilities Statement [Line Items]
Other current assets			663
Fixed assets			10
Goodwill			12,423
Other assets			419
Total assets acquired			18,249
Other current liabilities			(1,503)
Total liabilities assumed			(1,503)
Net assets acquired			16,746
ADG
Fair Value Of Assets And Liabilities Statement [Line Items]
Other current assets			1,500
Fixed assets			67
Goodwill			35,769
Other assets			467
Total assets acquired			47,575
Net assets acquired			47,575
Servco
Fair Value Of Assets And Liabilities Statement [Line Items]
Cash			8,188
Other current assets			7,769
Fixed assets			179
Goodwill			54,429
Other assets			1,478
Total assets acquired			88,486
Other current liabilities			(11,307)
Total liabilities assumed			(11,307)
Net assets acquired			77,179
Tower Hill
Fair Value Of Assets And Liabilities Statement [Line Items]
Total assets acquired			21,488
Net assets acquired			21,488
HSR
Fair Value Of Assets And Liabilities Statement [Line Items]
Cash			3,114
Other current assets			818
Fixed assets			124
Goodwill			18,737
Other assets			21
Total assets acquired			28,395
Other current liabilities			(5,930)
Deferred income tax, net			(342)
Total liabilities assumed			(6,272)
Net assets acquired			22,123
PDA
Fair Value Of Assets And Liabilities Statement [Line Items]
Cash			(248)
Other current assets			1,762
Fixed assets			310
Goodwill			16,547
Other assets			6
Total assets acquired			26,159
Other current liabilities			(1,093)
Deferred income tax, net			(223)
Total liabilities assumed			(1,316)
Net assets acquired			24,843
F&I
Fair Value Of Assets And Liabilities Statement [Line Items]
Other current assets			999
Fixed assets			34
Goodwill			36,423
Other assets			383
Total assets acquired			54,471
Net assets acquired			54,471
Rodman
Fair Value Of Assets And Liabilities Statement [Line Items]
Other current assets			1,062
Fixed assets			45
Goodwill			26,572
Other assets			542
Total assets acquired			38,401
Other current liabilities			(3,299)
Total liabilities assumed			(3,299)
Net assets acquired			35,102
Hays
Fair Value Of Assets And Liabilities Statement [Line Items]
Other current assets			36,254
Fixed assets			4,936
Goodwill			456,217
Other assets			13,977
Total assets acquired			732,584
Other current liabilities			(7,984)
Total liabilities assumed			(7,984)
Net assets acquired			724,600
Dealer Associates
Fair Value Of Assets And Liabilities Statement [Line Items]
Other current assets			552
Fixed assets			13
Goodwill			21,467
Other assets			226
Total assets acquired			33,265
Other current liabilities			(165)
Total liabilities assumed			(165)
Net assets acquired			33,100
Purchased Customer Accounts
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets	239,961	128,302	342,008
Purchased Customer Accounts | Special Risk
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets	14,286
Purchased Customer Accounts | Texas Risk
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets	3,222
Purchased Customer Accounts | Colonial
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets	9,205
Purchased Customer Accounts | RLA
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets	12,309
Purchased Customer Accounts | Sterling
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets	5,962
Purchased Customer Accounts | LP
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets	44,801
Purchased Customer Accounts | First
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets	5,095
Purchased Customer Accounts | Buiten
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets	11,323
Purchased Customer Accounts | Amity
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets	5,614
Purchased Customer Accounts | Neal
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets	13,225
Purchased Customer Accounts | BrookStone Insurance Group, LLC (BrookStone)
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets	3,689
Purchased Customer Accounts | South & Western
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets	18,513
Purchased Customer Accounts | Berry Insurance Group, Inc. (Berry)
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets	9,701
Purchased Customer Accounts | VAS
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets	48,188
Purchased Customer Accounts | Other
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets	8,582	15,020	15,085
Purchased Customer Accounts | Bright & Associates, Inc. (Bright)
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets	5,055
Purchased Customer Accounts | J.E. Brown
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets	9,479
Purchased Customer Accounts | CoverHound, Inc. and CyberPolicy, Inc. (CoverHound)
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets	3,678
Purchased Customer Accounts | MAJ Companies, Ltd. (MAJ)
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets	8,034
Purchased Customer Accounts | Smith
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets		6,500
Purchased Customer Accounts | Pipino
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets		11,360
Purchased Customer Accounts | Cossio
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets		4,403
Purchased Customer Accounts | Medval
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets		7,300
Purchased Customer Accounts | United
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets		7,065
Purchased Customer Accounts | Twinbrook
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets		8,557
Purchased Customer Accounts | IRS
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets		8,800
Purchased Customer Accounts | WBR
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets		4,022
Purchased Customer Accounts | Yozell
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets		3,550
Purchased Customer Accounts | CKP
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets		32,274
Purchased Customer Accounts | Poole
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets		10,359
Purchased Customer Accounts | VGW
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets		9,092
Purchased Customer Accounts | Opus
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets			5,008
Purchased Customer Accounts | Kerxton
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets			4,712
Purchased Customer Accounts | ADG
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets			9,751
Purchased Customer Accounts | Servco
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets			16,442
Purchased Customer Accounts | Tower Hill
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets			21,468
Purchased Customer Accounts | HSR
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets			5,516
Purchased Customer Accounts | PDA
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets			7,700
Purchased Customer Accounts | F&I
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets			16,611
Purchased Customer Accounts | Rodman
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets			10,129
Purchased Customer Accounts | Hays
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets			218,600
Purchased Customer Accounts | Dealer Associates
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets			10,986
Non-compete Agreements
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets	1,213	412	3,222
Non-compete Agreements | Special Risk
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets	136
Non-compete Agreements | Texas Risk
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets	25
Non-compete Agreements | Colonial
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets	43
Non-compete Agreements | RLA
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets	481
Non-compete Agreements | Sterling
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets	21
Non-compete Agreements | LP
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets	31
Non-compete Agreements | First
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets	21
Non-compete Agreements | Buiten
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets	91
Non-compete Agreements | Amity
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets	21
Non-compete Agreements | Neal
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets	31
Non-compete Agreements | BrookStone Insurance Group, LLC (BrookStone)
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets	21
Non-compete Agreements | South & Western
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets	21
Non-compete Agreements | Berry Insurance Group, Inc. (Berry)
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets	11
Non-compete Agreements | VAS
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets	101
Non-compete Agreements | Other
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets	64	161	297
Non-compete Agreements | Bright & Associates, Inc. (Bright)
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets	42
Non-compete Agreements | J.E. Brown
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets	41
Non-compete Agreements | MAJ Companies, Ltd. (MAJ)
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets	$ 11
Non-compete Agreements | Smith
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets		41
Non-compete Agreements | Pipino
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets		11
Non-compete Agreements | Cossio
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets		21
Non-compete Agreements | Medval
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets		1
Non-compete Agreements | United
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets		11
Non-compete Agreements | Twinbrook
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets		12
Non-compete Agreements | IRS
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets		11
Non-compete Agreements | WBR
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets		34
Non-compete Agreements | Yozell
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets		21
Non-compete Agreements | CKP
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets		21
Non-compete Agreements | Poole
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets		33
Non-compete Agreements | VGW
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets		$ 34
Non-compete Agreements | Opus
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets			21
Non-compete Agreements | Kerxton
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets			22
Non-compete Agreements | ADG
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets			21
Non-compete Agreements | Servco
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets			1
Non-compete Agreements | Tower Hill
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets			20
Non-compete Agreements | HSR
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets			65
Non-compete Agreements | PDA
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets			82
Non-compete Agreements | F&I
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets			21
Non-compete Agreements | Rodman
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets			51
Non-compete Agreements | Hays
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets			2,600
Non-compete Agreements | Dealer Associates
Fair Value Of Assets And Liabilities Statement [Line Items]
Intangible assets			$ 21

Business Combinations - Unaudit

Business Combinations - Unaudited Pro Forma Results (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Two Thousand Twenty Acquisition
Business Acquisition Pro Forma Information Nonrecurring Adjustment [Line Items]
Total revenues	$ 2,714,314	$ 2,579,075
Income before income taxes	650,618	576,355
Net income	$ 500,900	$ 436,722
Net income per share:
Basic	$ 1.77	$ 1.55
Diluted	$ 1.76	$ 1.54
Weighted average number of shares outstanding:
Basic	274,334	272,471
Diluted	275,867	274,616
Two Thousand Nineteen Acquisition
Business Acquisition Pro Forma Information Nonrecurring Adjustment [Line Items]
Total revenues		$ 2,447,401	$ 2,120,867
Income before income taxes		545,182	496,076
Net income		$ 412,974	$ 369,277
Net income per share:
Basic		$ 1.47	$ 1.33
Diluted		$ 1.46	$ 1.31
Weighted average number of shares outstanding:
Basic		272,471	270,971
Diluted		274,616	275,521
Two Thousand Eighteen Acquisition
Business Acquisition Pro Forma Information Nonrecurring Adjustment [Line Items]
Total revenues			$ 2,259,812	$ 2,193,169
Income before income taxes			504,664	503,927
Net income			$ 375,670	$ 447,796
Net income per share:
Basic			$ 1.35	$ 1.60
Diluted			$ 1.33	$ 1.57
Weighted average number of shares outstanding:
Basic			270,971	272,580
Diluted			275,521	277,586

Business Combinations - Addit_2

Business Combinations - Additions, Payments, and Net Changes, as well as Interest Expense Accretion on Estimated Acquisition Earn-Out Payables (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Combinations [Abstract]
Beginning balance	$ 161,513	$ 89,924	$ 36,175
Additions to estimated acquisition earn-out payables from new acquisitions	131,397	82,872	77,377
Payments for estimated acquisition earn-out payables	(29,509)	(9,917)	(26,597)
Subtotal	263,401	162,879	86,955
Net change in earnings from estimated acquisition earn-out payables:
Change in fair value on estimated acquisition earn-out payables	(11,814)	(7,298)	603
Interest expense accretion	7,356	5,932	2,366
Net change in earnings from estimated acquisition earn- out payables	(4,458)	(1,366)	2,969
Ending balance	$ 258,943	$ 161,513	$ 89,924

Goodwill - Changes in Carrying

Goodwill - Changes in Carrying Value of Goodwill by Operating Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill [Line Items]
Beginning balance	$ 3,746,094	$ 3,432,786
Goodwill of acquired businesses	648,095	328,546	$ 717,700
Goodwill disposed of relating to sales of businesses	(782)	(15,238)
Foreign currency translation adjustments during the year	2,511
Ending balance	4,395,918	3,746,094	3,432,786
Retail
Goodwill [Line Items]
Beginning balance	2,351,291	2,063,150
Goodwill of acquired businesses	299,961	302,640	676,900
Goodwill disposed of relating to sales of businesses	(782)	(14,499)
Foreign currency translation adjustments during the year	0
Ending balance	2,650,470	2,351,291	2,063,150
National Programs
Goodwill [Line Items]
Beginning balance	925,541	926,206
Goodwill of acquired businesses	163,070	74	18,700
Goodwill disposed of relating to sales of businesses	0	(739)
Foreign currency translation adjustments during the year	2,511
Ending balance	1,091,122	925,541	926,206
Wholesale Brokerage
Goodwill [Line Items]
Beginning balance	298,101	291,622
Goodwill of acquired businesses	184,956	6,479	5,500
Goodwill disposed of relating to sales of businesses	0	0
Foreign currency translation adjustments during the year	0
Ending balance	483,057	298,101	291,622
Services
Goodwill [Line Items]
Beginning balance	171,161	151,808
Goodwill of acquired businesses	108	19,353
Goodwill disposed of relating to sales of businesses	0	0
Foreign currency translation adjustments during the year	0
Ending balance	$ 171,269	$ 171,161	$ 151,808

Amortizable Intangible Assets -

Amortizable Intangible Assets - Amortizable Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross carrying value	$ 2,200,061	$ 1,959,207
Accumulated amortization	(1,150,401)	(1,042,439)
Net carrying value	1,049,660	916,768
Purchased Customer Accounts
Finite-Lived Intangible Assets [Line Items]
Gross carrying value	2,164,968	1,925,326
Accumulated amortization	(1,118,316)	(1,011,574)
Net carrying value	$ 1,046,652	$ 913,752
Weighted average life in years	15 years	15 years
Non-compete Agreements
Finite-Lived Intangible Assets [Line Items]
Gross carrying value	$ 35,093	$ 33,881
Accumulated amortization	(32,085)	(30,865)
Net carrying value	$ 3,008	$ 3,016
Weighted average life in years	4 years 7 months 6 days	4 years 7 months 6 days

Amortizable Intangible Assets_2

Amortizable Intangible Assets - Additional Information (Details) $ in Millions	Dec. 31, 2020USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
Amortization expense estimated, year one (2021)	$ 113.8
Amortization expense estimated, year two (2022)	109.4
Amortization expense estimated, year three (2023)	102.4
Amortization expense estimated, year four (2024)	98.5
Amortization expense estimated, year five (2025)	$ 96.1

Investments - Summary of Amorti

Investments - Summary of Amortized Cost and Fair Values of Fixed Maturity Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Cost	$ 35,562	$ 31,811
Gross unrealized gains	703	242
Gross unrealized losses	(11)	(47)
Fair value	36,254	32,006
U.S. Treasury securities, obligations of U.S. Government agencies and Municipalities
Debt Securities, Available-for-sale [Line Items]
Cost	28,372	26,487
Gross unrealized gains	464	174
Gross unrealized losses	(5)	(39)
Fair value	28,831	26,622
Corporate debt
Debt Securities, Available-for-sale [Line Items]
Cost	7,190	5,324
Gross unrealized gains	239	68
Gross unrealized losses	(6)	(8)
Fair value	$ 7,423	$ 5,384

Investments - Additional Inform

Investments - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)Security	Dec. 31, 2019USD ($)Security	Dec. 31, 2018USD ($)
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Debt Securities	$ 36,254	$ 32,006
Number of securities in unrealized loss position | Security	3	10
Proceeds from sale of investment in fixed maturity securities	$ 8,600	$ 5,800
Proceeds from Sale of Other Investments	11,000	8,500
Payments to Acquire Investments	14,168	17,520	$ 9,284
Investments on deposit with the state insurance department	4,200
U.S. Treasury securities, obligations of U.S. Government agencies and Municipalities
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Debt Securities	28,831	26,622
U.S. Treasury securities, obligations of U.S. Government agencies and Municipalities | Short-term Investments
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Debt Securities	11,300
U.S. Treasury securities, obligations of U.S. Government agencies and Municipalities | Bank Time Deposits
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Debt Securities	7,000
Corporate Debt Securities
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Debt Securities	$ 7,423	$ 5,384

Investments - Schedule of Inves

Investments - Schedule of Investments' Gross Unrealized Loss and Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than 12 Months	$ 2,803
Unrealized Losses, Less than 12 Months	(11)
Fair Value, 12 Months or More		$ 8,051
Unrealized Losses, 12 Months or More		(47)
Fair Value	2,803	8,051
Unrealized Losses	(11)	(47)
U.S. Treasury securities, obligations of U.S. Government agencies and Municipalities
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than 12 Months	1,995
Unrealized Losses, Less than 12 Months	(5)
Fair Value, 12 Months or More		7,053
Unrealized Losses, 12 Months or More		(39)
Fair Value	1,995	7,053
Unrealized Losses	(5)	(39)
Corporate debt
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less than 12 Months	808
Unrealized Losses, Less than 12 Months	(6)
Fair Value, 12 Months or More		998
Unrealized Losses, 12 Months or More		(8)
Fair Value	808	998
Unrealized Losses	$ (6)	$ (8)

Investments - Amortized Cost an

Investments - Amortized Cost and Fair Value of Fixed Maturity Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Amortized cost
Due in one year or less	$ 11,214	$ 4,616
Due after one year through five years	23,348	27,195
Due after five years through ten years	1,000	0
Amortized Cost, Total	35,562	31,811
Fair value
Due in one year or less	11,283	4,628
Due after one year through five years	23,976	27,378
Due after five years through ten years	995	0
Fair Value, Total	$ 36,254	$ 32,006

Fixed Assets - Schedule of Fixe

Fixed Assets - Schedule of Fixed Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 391,949	$ 319,925
Development in Process	81,736	38,035
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	(190,834)	(171,298)
Property, Plant and Equipment, Net	201,115	148,627
Furniture and Fixtures
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	259,524	231,005
Leasehold Improvements
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	42,261	42,485
Land, Buildings and Improvements
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 8,428	$ 8,400

Fixed Assets - Additional Infor

Fixed Assets - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property Plant And Equipment [Abstract]
Depreciation	$ 26,276	$ 23,417	$ 22,834

Accrued Expenses and Other Li_3

Accrued Expenses and Other Liabilities - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Payables And Accruals [Abstract]
Accrued incentive compensation	$ 159,356	$ 144,475
Accrued compensation and benefits	41,550	60,260
Lease liability	43,542	43,415
Deferred revenue	53,956	41,180
Reserve for policy cancellations	31,081	18,353
Accrued interest	15,260	10,984
Accrued rent and vendor expenses	6,682	7,422
Other	20,310	11,628
Total	$ 371,737	$ 337,717

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Total current portion of long-term debt	$ 70,000	$ 55,000
Total notes	1,548,208	848,743
Long-term credit agreements	490,000	660,000
Debt issuance costs (contra)	(12,302)	(8,400)
Total long-term debt less unamortized discount and debt issuance costs	2,025,906	1,500,343
Current portion of long-term debt	70,000	55,000
Total debt	2,095,906	1,555,343
5-year Term-Loan Facility Expires in 2022
Debt Instrument [Line Items]
Total current portion of long-term debt	40,000	40,000
Long-term credit agreements	250,000	290,000
5-year Term-Loan Facility Expires in 2023
Debt Instrument [Line Items]
Total current portion of long-term debt	30,000	15,000
Long-term credit agreements	240,000	270,000
4.200% Senior Notes, Semi-Annual Interest Payments, Balloon Due 2024
Debt Instrument [Line Items]
Total notes	499,416	499,259
4.500% Senior Notes, Semi-Annual Interest Payments, Balloon Due 2029
Debt Instrument [Line Items]
Total notes	349,540	349,484
2.375% Senior Note due 2031, Semi-Annual Interest Payments, Balloon Due 2031
Debt Instrument [Line Items]
Total notes	$ 699,252
5-year Revolving-Loan Facility, Periodic Interest Payments, LIBOR Plus up to 1.500%, Plus Commitment Fees up to 0.250%, Expires June 28, 2022
Debt Instrument [Line Items]
Long-term credit agreements		$ 100,000

Long-Term Debt - Schedule of _2

Long-Term Debt - Schedule of Long-Term Debt (Parenthetical) (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Minimum
Debt Instrument [Line Items]
Debt instrument, variable interest rate	1.00%
Maximum
Debt Instrument [Line Items]
Debt instrument, variable interest rate	1.75%
4.500% Senior Notes, Semi-Annual Interest Payments, Balloon Due 2029
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage	4.50%	4.50%
Debt instrument maturity year	2029	2029
4.200% Senior Notes, Semi-Annual Interest Payments, Balloon Due 2024
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage	4.20%	4.20%
Debt instrument maturity year	2024	2024
2.375% Senior Note due 2031, Semi-Annual Interest Payments, Balloon Due 2031
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage	2.375%	2.375%
Debt instrument maturity year	2031	2031
5-year Term-Loan Facility Expires in 2022
Debt Instrument [Line Items]
Debt instrument maturity year	2022	2022
Line of credit facility, expiration period	5 years	5 years
Line of credit facility, expiration date	Jun. 28, 2022	Jun. 28, 2022
5-year Term-Loan Facility Expires in 2022 | Maximum | LIBOR
Debt Instrument [Line Items]
Debt instrument, variable interest rate	1.75%	1.75%
5-year Revolving-Loan Facility, Periodic Interest Payments, LIBOR Plus up to 1.500%, Plus Commitment Fees up to 0.250%, Expires June 28, 2022
Debt Instrument [Line Items]
Line of credit facility, expiration period	5 years	5 years
Line of credit facility, expiration date	Jun. 28, 2022	Jun. 28, 2022
5-year Revolving-Loan Facility, Periodic Interest Payments, LIBOR Plus up to 1.500%, Plus Commitment Fees up to 0.250%, Expires June 28, 2022 | Maximum
Debt Instrument [Line Items]
Commitment fee, percentage	0.25%	0.25%
5-year Revolving-Loan Facility, Periodic Interest Payments, LIBOR Plus up to 1.500%, Plus Commitment Fees up to 0.250%, Expires June 28, 2022 | Maximum | LIBOR
Debt Instrument [Line Items]
Debt instrument, variable interest rate	1.50%	1.50%
5-year Term-Loan Facility Expires in 2023
Debt Instrument [Line Items]
Debt instrument maturity year	2023	2023
Line of credit facility, expiration period	5 years	5 years
Line of credit facility, expiration date	Dec. 21, 2023	Dec. 21, 2023
5-year Term-Loan Facility Expires in 2023 | Maximum | LIBOR
Debt Instrument [Line Items]
Debt instrument, variable interest rate	1.75%	1.75%

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Details) - USD ($)	Dec. 21, 2018	Dec. 31, 2018	Jun. 30, 2017	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Sep. 24, 2020	Mar. 31, 2019	Mar. 11, 2019	Jun. 28, 2017	Sep. 18, 2014	Apr. 17, 2014
Debt Instrument [Line Items]
Unsecured revolving credit facility				$ 0	$ 100,000,000					$ 400,000,000		$ 800,000,000
Debt instrument, periodic payment, principal					330,000,000
Proceeds from issuance of debt		$ 2,800,000
Debt issuance costs										$ 1,600,000
Write off of deferred debt issuance cost			$ 200,000
Unsecured term loans				290,000,000
Outstanding debt balance				2,095,906,000	1,555,343,000
Debt instrument, periodic payment, principal	$ 250,000,000
Interest				52,400,000	58,300,000	$ 38,000,000
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months				70,000,000
Long-term Debt, Maturities, Repayments of Principal in Year Two				280,000,000
Long-term Debt, Maturities, Repayments of Principal in Year Three				210,000,000
Long-term Debt, Maturities, Repayments of Principal in Year Four				500,000,000
Long-term Debt, Maturities, Repayments of Principal in Year Five				350,000,000
Long-term Debt, Maturities, Repayments of Principal after Year Five				$ 700,000,000
Minimum
Debt Instrument [Line Items]
Debt instrument, variable interest rate				1.00%
Maximum
Debt Instrument [Line Items]
Debt instrument, variable interest rate				1.75%
Unsecured Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount											$ 500,000,000
Debt instrument interest rate stated percentage							2.375%		4.50%		4.20%
Outstanding debt balance				$ 500,000,000	$ 500,000,000		$ 200,000,000	$ 350,000,000
4.500% Senior Notes, Semi-Annual Interest Payments, Balloon Due 2029
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage				4.50%	4.50%
Senior notes				$ 350,000,000	$ 350,000,000				$ 350,000,000
2.375% Senior Note due 2031, Semi-Annual Interest Payments, Balloon Due 2031
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage				2.375%	2.375%
Senior notes				$ 700,000,000			$ 700,000,000
Term Loan
Debt Instrument [Line Items]
Debt instrument, periodic payment, principal		$ 67,500,000
Unsecured term loans	$ 300,000,000			$ 270,000,000	$ 285,000,000
Loan repayment term	5 years
Term Loan | LIBOR
Debt Instrument [Line Items]
30-day Adjusted LIBOR Rate				0.188%
Term Loan | Minimum
Debt Instrument [Line Items]
Unsecured term loans	$ 300,000,000
Term Loan | Maximum
Debt Instrument [Line Items]
Unsecured term loans	$ 450,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility, outstanding amount											$ 475,000,000
Long-term Debt | LIBOR
Debt Instrument [Line Items]
30-day Adjusted LIBOR Rate				0.188%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Contingency [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	21.00%	21.00%	35.00%
Income Tax Expense (Benefit)	$ 143,616	$ 127,415	$ 118,207
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount			1,600
Income Taxes Paid	132,900	110,000	110,600
Operating Loss Carryforwards	0
Operating Loss Carryforwards State	36,000
Liability for Uncertainty in Income Taxes, Current	300	200	200
Unrecognized Tax Benefits	1,267	$ 1,127	$ 1,639	$ 1,694
Foreign | Canada
Income Tax Contingency [Line Items]
Operating Loss Carryforwards	$ 6,400
Tax Cuts and Jobs Act 2017
Income Tax Contingency [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent			21.00%	35.00%
Income Tax Expense (Benefit)				$ 120,900
Deferred Tax Liabilities, Deferred Expense				124,200
Taxes Payable				$ 3,300

Income Taxes - Schedule of Comp

Income Taxes - Schedule of Components of Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current:
Federal	$ 93,620	$ 85,507	$ 77,694
State	34,123	28,905	25,096
Foreign	325	620	409
Total current provision	128,068	115,032	103,199
Deferred:
Federal	11,655	14,994	8,483
State	4,119	(2,587)	6,519
Foreign	(226)	(24)	6
Total deferred provision	15,548	12,383	15,008
Total tax provision	$ 143,616	$ 127,415	$ 118,207

Income Taxes - Schedule of Reco

Income Taxes - Schedule of Reconciliation of Effective Tax Rate and Federal Statutory Tax Rate (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Federal statutory tax rate	21.00%	21.00%	21.00%	35.00%
State income taxes, net of federal income tax benefit	5.30%	3.80%	5.70%
Non-deductible employee stock purchase plan expense	0.30%	0.30%	0.20%
Non-deductible meals and entertainment	0.10%	0.30%	0.30%
Non-deductible officers’ compensation	0.30%	0.20%	0.30%
Tax Reform Act deferred tax revaluation and transition tax impact	0.00%	0.00%	(0.30%)
Stock Vesting under ASU 2016-19	(3.50%)	(1.10%)	(1.40%)
Other, net	(0.50%)	(0.30%)	(0.20%)
Effective tax rate	23.00%	24.20%	25.60%

Income Taxes - Schedule of Co_2

Income Taxes - Schedule of Components of Company's Net Deferred Tax Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Non-current deferred tax liabilities:
Intangible assets	$ 400,335	$ 360,660
Fixed assets	11,740	10,325
ASC 842 ROU Asset	46,730	46,188
Net unrealized holding (loss)/gain on available-for-sale securities	176	36
Total non-current deferred tax liabilities	478,909	441,896
Non-current deferred tax assets:
Deferred compensation	59,897	52,566
Accruals and reserves	19,497	7,743
ASC 842 lease liabilities	53,150	52,185
Net operating loss carryforwards and 163(j) disallowed carryforwards	3,168	2,377
Valuation allowance for deferred tax assets	(1,025)	(1,252)
Total non-current deferred tax assets	134,687	113,619
Net non-current deferred tax liability	344,222	328,277
Accounting Standards Update 2014-09
Non-current deferred tax liabilities:
Deferred Tax Liabilities, Other	$ 19,928	$ 24,687

Income Taxes - Schedule of Re_2

Income Taxes - Schedule of Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Unrecognized tax benefits	$ 1,127	$ 1,639	$ 1,694
Gross increases for tax positions of prior years	848	778	594
Gross decreases for tax positions of prior years	(708)	(791)	(5)
Settlements		(499)	(644)
Unrecognized tax benefits	$ 1,267	$ 1,127	$ 1,639

Employee Savings Plan - Additio

Employee Savings Plan - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)Day	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Employee Savings Plan [Abstract]
Service Period Eligible to Participate for Employee Savings Plan | Day	30
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	4.00%
Defined Benefit Plan, Plan Assets, Contributions by Employer | $	$ 31.2	$ 22.8	$ 22.8

Stock Based Compensation - Addi

Stock Based Compensation - Additional Information (Details) $ / shares in Units, $ in Thousands

1 Months Ended

12 Months Ended

May 31, 2020shares

Apr. 30, 2019shares

Jan. 31, 2018shares

Jul. 31, 2009

Dec. 31, 2020USD ($)$ / sharesshares

Dec. 31, 2019USD ($)shares

Dec. 31, 2018USD ($)shares

Dec. 31, 2016

Dec. 31, 2015

Aug. 31, 2020$ / shares

Jul. 31, 2020USD ($)$ / sharesshares

Aug. 31, 2019$ / shares

Jul. 31, 2019USD ($)$ / sharesshares

May 01, 2019shares

Aug. 31, 2018$ / shares

Jul. 31, 2018USD ($)$ / sharesshares

Dec. 31, 2017shares

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Maximum number of shares available to be granted under award stock plan

28,800,000

Incremental increases in average stock price from initial grant price

20.00%

Share-based compensation arrangement by share-based payment award, award requisite service period

20 years

15 years

Attainment age of stock plan

attainment of age 64

Share-based compensation arrangement by share-based payment award, options, grants in period, gross

10,217,232

Share based compensation arrangement by share based payment award equity instruments other than options awarded shares outstanding number

909,828

Share based compensation arrangement by share based payment award equity instruments other than options distributed shares outstanding number

9,307,404

Share-based compensation, shares authorized under stock option plans, exercise price range, lower range limit | $ / shares

$ 8.30

Share-based compensation, shares authorized under stock option plans, exercise price range, upper range limit | $ / shares

$ 10.31

Share-based compensation arrangement by share-based payment award, equity instruments other than options, vested in period, fair value | $

$ 5,000

$ 3,500

$ 11,900

Number of shares authorized

34,000,000

Maximum employee subscription rate

10.00%

Compensation cost not yet recognized | $

$ 112,600

Compensation cost not yet recognized, period for recognition

3 years 3 months 14 days

Employee Stock

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares available for grant

5,378,467

Threshold period worked per week by employees

20

Allotted value maximum | $

$ 25,000

Subscription period beginning

August 1st

Subscription period ending

July 31st

Purchase price of common stock, percentage

85.00%

Percentage of market price

15.00%

Value of one year stock option percentage

85.00%

Estimated fair value per share option | $ / shares

$ 12.43

$ 7.46

$ 5.88

Stock awarded

962,131

976,303

985,601

Shares issued aggregate purchase value | $

$ 29,300

$ 24,000

$ 18,700

Shares issued aggregate purchase price per share | $ / shares

$ 30.51

$ 24.63

$ 18.96

Shares held in employee stock option plan, suspense shares

381,371

419,446

402,349

Cash received from proceeds by participants | $

$ 14,800

$ 12,800

$ 9,900

2019 Stock Incentive Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares of stock reserved for issuance under stock incentive plans

2,283,475

Number of shares available for grant

8,624,668

6,957,897

2010 SIP and 2019 SIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share based compensation arrangement by share based payment award equity instruments other than options awarded shares outstanding number

6,919,847

8,070,576

6,595,319

4,809,604

2010 SIP and 2019 SIP | Minimum

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock vesting period

5 years

Performance measurement period

3 years

Percentage of payout

0.00%

0.00%

2010 SIP and 2019 SIP | Maximum

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock vesting period

10 years

Performance measurement period

5 years

Percentage of payout

200.00%

100.00%

2010 Stock Incentive Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Common stock issued to directors shares

16,490

27,885

26,620

Stock Based Compensation - Summ

Stock Based Compensation - Summary of Stock Option Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Awarded share Outstanding ending balance	909,828
Performance Stock Plan
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Weighted-average grant date fair value Outstanding beginning balance	$ 5	$ 5.03	$ 5.16
Weighted-average grant date fair value Vested	6.06	5.29	5.53
Weighted-average grant date fair value Forfeited	5.03	4.74	4.92
Weighted-average grant date fair value Outstanding ending balance	$ 4.86	$ 5	$ 5.03
Granted Share Outstanding Beginning Balance	1,051,292	1,196,092	1,694,476
Granted Share Vested	(119,072)	(115,040)	(453,860)
Granted Share Forfeited	(22,392)	(29,760)	(44,524)
Granted Share Outstanding Ending Balance	909,828	1,051,292	1,196,092
Awarded share Outstanding beginning balance	1,051,292	1,196,092	1,694,476
Awarded share Vested	(119,072)	(115,040)	(453,860)
Awarded share Forfeited	(22,392)	(29,760)	(44,524)
Awarded share Outstanding ending balance	909,828	1,051,292	1,196,092
2010 SIP and 2019 SIP
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Weighted-average grant date fair value Outstanding beginning balance	$ 18.10	$ 16.69	$ 15.58
Weighted-average grant date fair value Granted	46.58	28.53	22.87
Weighted-average grant date fair value Awarded	19.71	17.26	15.89
Weighted-average grant date fair value Vested	15.97	14.29	14.09
Weighted-average grant date fair value Forfeited	20.75	19.09	16.37
Weighted-average grant date fair value Outstanding ending balance	$ 19.89	$ 18.10	$ 16.69
Granted Share Outstanding Beginning Balance	11,641,918	11,102,375	12,821,990
Granted Share Granted	970,997	1,812,047	1,577,721
Granted Share Awarded	497,082	299,339
Granted Share Vested	(3,059,619)	(1,068,211)	(933,916)
Granted Share Forfeited	(356,041)	(503,632)	(2,363,420)
Granted Share Outstanding Ending Balance	9,694,337	11,641,918	11,102,375
Awarded share Outstanding beginning balance	8,070,576	6,595,319	4,809,604
Awarded shares Granted	148,015	797,778	454,313
Awarded share Awarded	1,880,512	1,954,983	2,489,905
Awarded share Vested	(3,059,619)	(1,068,211)	(933,916)
Awarded share Forfeited	(119,637)	(209,293)	(224,587)
Awarded share Outstanding ending balance	6,919,847	8,070,576	6,595,319
Shares not yet awarded Outstanding beginning balance	3,571,342	4,507,056	8,012,386
Shares not yet awarded Granted	822,982	1,014,269	1,123,408
Shares not yet awarded Awarded	(1,383,430)	(1,655,644)	(2,489,905)
Shares not yet awarded Forfeited	(236,404)	(294,339)	(2,138,833)
Shares not yet awarded Outstanding ending balance	2,774,490	3,571,342	4,507,056

Stock Based Compensation - Su_2

Stock Based Compensation - Summary of Stock Option Activity (Parenthetical) (Details) - 2010 SIP and 2019 SIP - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Shares not yet awarded Granted	822,982	1,014,269	1,123,408
Potential Payout	365,606	501,384	576,886
Targeted payout	100.00%	100.00%	100.00%
Tranche One
Potential Payout	20,611
Tranche Two
Potential Payout	15,850
Tranche Three
Potential Payout	56,226
Maximum
Performance of final target percentage	200.00%	200.00%	200.00%
Maximum | Tranche One
Performance of final target percentage	120.00%
Maximum | Tranche Two
Performance of final target percentage	150.00%
Maximum | Tranche Three
Performance of final target percentage	150.00%
Minimum
Performance of final target percentage	0.00%	0.00%	0.00%
Minimum | Tranche One
Performance of final target percentage	0.00%
Minimum | Tranche Two
Performance of final target percentage	0.00%
Minimum | Tranche Three
Performance of final target percentage	50.00%

Stock Based Compensation - Sche

Stock Based Compensation - Schedule of Performance Stock Plan and 2010 Stock Incentive Plan (Details) - 2010 Stock Incentive Plan - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance-based restricted stock granted	822,982	1,014,269	1,123,408
Time-Based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awarded	148,015	797,778	454,313
Performance Based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance-based restricted stock granted	822,982	1,014,269	1,123,408
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awarded	1,880,512	1,954,983	2,489,905

Stock Based Compensation - Sc_2

Stock Based Compensation - Schedule of Performance Stock Plan and 2010 Stock Incentive Plan (Parenthetical) (Details) - 2010 Stock Incentive Plan - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Performance-based restricted stock granted	822,982	1,014,269	1,123,408
Potential Payout	365,606	501,384	576,886
Targeted payout	100.00%	100.00%	100.00%
Tranche One
Potential Payout	20,611
Tranche Two
Potential Payout	15,850
Tranche Three
Potential Payout	56,226
Maximum
Performance of final target percentage	200.00%	200.00%	200.00%
Maximum | Tranche One
Performance of final target percentage	120.00%
Maximum | Tranche Two
Performance of final target percentage	150.00%
Maximum | Tranche Three
Performance of final target percentage	150.00%
Minimum
Performance of final target percentage	0.00%	0.00%	0.00%
Minimum | Tranche One
Performance of final target percentage	0.00%
Minimum | Tranche Two
Performance of final target percentage	0.00%
Minimum | Tranche Three
Performance of final target percentage	50.00%

Stock Based Compensation - Su_3

Stock Based Compensation - Summary of Non-Cash Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-cash stock-based compensation	$ 59,749	$ 46,994	$ 33,519
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-cash stock-based compensation	8,789	6,504	4,744
2010 SIP and 2019 SIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-cash stock-based compensation	50,198	39,626	28,027
Performance Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-cash stock-based compensation	$ 762	$ 864	$ 748

Supplemental Disclosures of C_3

Supplemental Disclosures of Cash Flow Information and Non-Cash Financing and Investing Activities - Summary of Cash Paid for Interest and Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash paid during the period for:
Interest	$ 52,378	$ 58,290	$ 38,032
Income taxes, net of refunds	$ 131,596	$ 109,766	$ 110,350

Supplemental Disclosures of C_4

Supplemental Disclosures of Cash Flow Information and Non-Cash Financing and Investing Activities - Summary of Significant Non-Cash Investing and Financing Activities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Significant non-cash investing and financing activities
Other payables issued for purchased customer accounts	$ 9,130	$ 12,135	$ 5,462
Estimated acquisition earn-out payables and related charges	$ 131,397	82,872	77,378
Notes received on the sale of fixed assets and customer accounts		$ 9,903	$ 52

Supplemental Disclosures of C_5

Supplemental Disclosures of Cash Flow Information and Non-Cash Financing and Investing Activities - Schedule of Reconciliation of Cash and Cash Equivalents Inclusive of Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 817,398	$ 542,174	$ 438,961
Restricted cash	454,517	420,801	338,635
Total cash and cash equivalents inclusive of restricted cash at the end of the period	$ 1,271,915	$ 962,975	$ 777,596	$ 824,088

Leases - Additional Information

Leases - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)
Lessee Lease Description [Line Items]
Operating lease expiration term	2041
Future Lease Agreements
Lessee Lease Description [Line Items]
Operating lease expected to commence undiscounted lease liabilities in 2021	$ 5

Leases - Schedule of Balances a

Leases - Schedule of Balances and Classification of Operating Lease Right-of-Use Assets and Operating Lease Liabilities within Condensed Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Assets:
Operating lease right-of-use assets	$ 186,998	$ 184,288
Total assets	186,998	184,288
Liabilities:
Current operating lease liabilities	$ 43,542	$ 43,415
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	bro:AccruedExpensesAndOtherLiabilitiesMember	bro:AccruedExpensesAndOtherLiabilitiesMember
Non-current operating lease liabilities	$ 172,935	$ 167,855
Total liabilities	$ 216,477	$ 211,270

Leases - Schedule of Components

Leases - Schedule of Components of Lease Cost for Operating Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Operating leases:
Lease cost	$ 53,821	$ 49,872
Variable lease cost	3,739	3,819
Short term lease cost	468	267
Operating lease cost	58,028	53,958
Sublease income	(1,798)	(1,386)
Total lease cost net	$ 56,230	$ 52,572

Leases - Schedule of Weighted A

Leases - Schedule of Weighted Average Remaining Lease Term and Weighted Average Discount Rate for Operating Leases (Details)	Dec. 31, 2020
Leases [Abstract]
Weighted-average remaining lease term	5 years 11 months 8 days
Weighted-average discount rate	3.32%

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
2021	$ 49,923
2022	46,447
2023	39,251
2024	31,033
2025	22,921
Thereafter	49,687
Total undiscounted lease payments	239,262
Less: Imputed interest	22,785
Present value of future lease payments	$ 216,477	$ 211,270

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash paid for amounts included in measurement of liabilities
Operating cash flows from operating leases	$ 54,946	$ 51,894
Right-of-use assets obtained in exchange for new operating liabilities	$ 45,750	$ 46,730

Quarterly Operating Results (_2

Quarterly Operating Results (Unaudited) - Schedule of Quarterly Operating Results (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Total revenues	$ 642,111	$ 673,962	$ 598,806	$ 698,495	$ 578,989	$ 618,683	$ 575,219	$ 619,280	$ 2,613,375	$ 2,392,171	$ 2,014,246
Total expenses	511,195	515,434	469,405	493,242	476,940	466,845	451,697	470,760	1,989,276	1,866,242	1,551,784
Income before income taxes	130,916	158,528	129,401	205,253	102,049	151,838	123,522	148,520	624,099	525,929	462,462
Net income	$ 97,320	$ 133,979	$ 96,784	$ 152,400	$ 76,519	$ 115,506	$ 92,593	$ 113,896	$ 480,483	$ 398,514	$ 344,255
Net income per share:
Basic	$ 0.34	$ 0.47	$ 0.34	$ 0.54	$ 0.27	$ 0.41	$ 0.33	$ 0.41	$ 1.70	$ 1.42	$ 1.24
Diluted	$ 0.34	$ 0.47	$ 0.34	$ 0.54	$ 0.27	$ 0.41	$ 0.33	$ 0.40	$ 1.69	$ 1.40	$ 1.22

Segment Information - Additiona

Segment Information - Additional Information (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020USD ($)	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2020USD ($)Segment	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | Segment									4
Revenues	$ 642,111	$ 673,962	$ 598,806	$ 698,495	$ 578,989	$ 618,683	$ 575,219	$ 619,280	$ 2,613,375	$ 2,392,171	$ 2,014,246
London, Bermuda and Cayman Islands
Segment Reporting Information [Line Items]
Revenues									$ 35,100	$ 17,700	$ 15,200

Segment Information - Summarize

Segment Information - Summarized Financial Information Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Total revenues	$ 642,111	$ 673,962	$ 598,806	$ 698,495	$ 578,989	$ 618,683	$ 575,219	$ 619,280	$ 2,613,375	$ 2,392,171	$ 2,014,246
Investment income									2,811	5,780	2,746
Amortization									108,523	105,298	86,544
Depreciation									26,276	23,417	22,834
Interest expense									58,973	63,660	40,580
Income before income taxes	130,916	$ 158,528	$ 129,401	$ 205,253	102,049	$ 151,838	$ 123,522	$ 148,520	624,099	525,929	462,462
Total assets	8,966,492				7,622,821				8,966,492	7,622,821	6,688,668
Capital expenditures									70,700	73,108	41,520
Operating Segments | Retail
Segment Reporting Information [Line Items]
Total revenues									1,472,766	1,367,261	1,042,763
Investment income									163	149	2
Amortization									67,315	63,146	44,386
Depreciation									9,071	7,390	5,289
Interest expense									85,968	87,295	35,969
Income before income taxes									262,245	222,875	217,845
Total assets	7,093,627				6,413,459				7,093,627	6,413,459	5,850,045
Capital expenditures									13,175	12,497	6,858
Operating Segments | National Programs
Segment Reporting Information [Line Items]
Total revenues									610,640	518,384	494,463
Investment income									756	1,397	506
Amortization									27,166	25,482	25,954
Depreciation									8,658	6,791	5,486
Interest expense									20,597	16,690	26,181
Income before income taxes									182,892	143,737	117,375
Total assets	3,510,983				3,110,368				3,510,983	3,110,368	2,940,097
Capital expenditures									7,208	10,365	12,391
Operating Segments | Wholesale Brokerage
Segment Reporting Information [Line Items]
Total revenues									352,797	310,087	287,014
Investment income									184	178	165
Amortization									8,481	11,191	11,391
Depreciation									1,948	1,674	1,628
Interest expense									10,281	4,756	5,254
Income before income taxes									93,593	82,739	70,171
Total assets	1,791,717				1,390,250				1,791,717	1,390,250	1,283,877
Capital expenditures									3,324	6,171	2,518
Operating Segments | Services
Segment Reporting Information [Line Items]
Total revenues									174,012	193,781	189,246
Investment income									0	139	205
Amortization									5,561	5,479	4,813
Depreciation									1,424	1,229	1,558
Interest expense									4,142	4,404	2,869
Income before income taxes									27,994	40,337	34,508
Total assets	480,440				481,336				480,440	481,336	471,572
Capital expenditures									1,424	804	1,525
Segment Reconciling Items
Segment Reporting Information [Line Items]
Total revenues									3,160	2,658	760
Investment income									1,708	3,917	1,868
Amortization									0	0	0
Depreciation									5,175	6,333	8,873
Interest expense									(62,015)	(49,485)	(29,693)
Income before income taxes									57,375	36,241	22,563
Total assets	$ (3,910,275)				$ (3,772,592)				(3,910,275)	(3,772,592)	(3,856,923)
Capital expenditures									$ 45,569	$ 43,271	$ 18,228

Insurance Company WNFIC - Effec

Insurance Company WNFIC - Effects of Reinsurance on Premiums Written and Earned (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Written
Direct premiums	$ 728,109	$ 697,072
Ceded premiums	728,093	697,059
Net premiums	16	13
Earned
Direct premiums	716,515	668,971
Ceded premiums	716,499	668,958
Net premiums	$ 16	$ 13

Insurance Company WNFIC - Addit

Insurance Company WNFIC - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)Reinsurer	Dec. 31, 2019USD ($)	Sep. 30, 2020
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Ceded rate of premiums under insurance program	100.00%
Premiums written net	$ 728,093	$ 697,059
Ceded unpaid loss	43,500	58,500
Prepaid reinsurance premiums	377,615	366,021
Increase (decrease) in loss and loss adjustment expense reserve	0	0
Reserve for losses and loss adjustment expense	$ 43,500	58,500
Number of reinsurers | Reinsurer	2
Wright National Flood Insurance Company
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Ceded rate of premiums under insurance program	100.00%
Expenses and allowance rate received in premiums	30.00%		30.10%
Premiums written net	$ 725,800	694,900
Statutory capital and surplus required	7,500
Statutory capital and surplus	32,600	29,600
Statutory net Income	$ 800	$ 8,100
Preferred stock, dividend rate, percentage	100.00%
Maximum dividend payout that may be made without prior approval	$ 3,300
Wright National Flood Insurance Company | Maximum
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Preferred stock, dividend rate, percentage	10.00%

Shareholders' Equity - Addition

Shareholders' Equity - Additional Information (Details) - USD ($)	May 17, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020	May 01, 2019
Accelerated Share Repurchases [Line Items]
Shares repurchased, authorized amount				$ 100,000,000
Treasury stock shares (in shares)		16,685,000	15,451,000		16,685,000
Fair value of common stock repurchased		$ 591,338,000	$ 536,243,000		$ 591,338,000
Stock repurchase program, remaining authorized repurchase amount		$ 406,200,000			$ 406,200,000
Treasury stock, shares, acquired					16,700,000
Accelerated Share Repurchase Agreement
Accelerated Share Repurchases [Line Items]
Treasury stock shares (in shares)		1,234,417	1,087,914		1,234,417
Treasury stock, average cost per share		$ 44.63	$ 35.55
Fair value of common stock repurchased		$ 55,100,000	$ 38,700,000	$ 80,000,000	$ 55,100,000
Treasury stock, shares, acquired	566,599			2,910,150
Maximum
Accelerated Share Repurchases [Line Items]
Shares repurchased, authorized amount		$ 100,000,000			$ 100,000,000	$ 372,500,000