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Document and Entity Information
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9 Months Ended |
|---|---|
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Sep. 30, 2014
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| Document And Entity Information [Abstract] | |
| Document Type | 10-Q |
| Amendment Flag | false |
| Document Period End Date | Sep. 30, 2014 |
| Document Fiscal Year Focus | 2014 |
| Document Fiscal Period Focus | Q3 |
| Trading Symbol | BRO |
| Entity Registrant Name | BROWN & BROWN INC |
| Entity Central Index Key | 0000079282 |
| Current Fiscal Year End Date | --12-31 |
| Entity Filer Category | Large Accelerated Filer |
| Entity Common Stock, Shares Outstanding | 143,764,765 |
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- Details
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- Definition
If the value is true, then the document is an amendment to previously-filed/accepted document. No definition available.
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- Definition
End date of current fiscal year in the format --MM-DD. No definition available.
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- Definition
This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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- Definition
This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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- Definition
The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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- Definition
The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other". No definition available.
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- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument. No definition available.
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- Definition
Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Trading symbol of an instrument as listed on an exchange. No definition available.
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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) (USD $)
In Thousands, except Per Share data, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
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Sep. 30, 2014
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Sep. 30, 2013
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Sep. 30, 2014
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Sep. 30, 2013
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| REVENUES | ||||
| Commissions and fees | $ 420,615 | $ 358,196 | $ 1,177,312 | $ 1,016,139 |
| Investment income | 225 | 85 | 522 | 510 |
| Other income, net | 578 | 1,029 | 4,942 | 3,465 |
| Total revenues | 421,418 | 359,310 | 1,182,776 | 1,020,114 |
| EXPENSES | ||||
| Employee compensation and benefits | 203,126 | 180,528 | 583,633 | 503,540 |
| Non-cash stock-based compensation | 5,640 | 7,431 | 19,149 | 14,904 |
| Other operating expenses | 64,916 | 50,102 | 177,923 | 143,838 |
| Amortization | 21,983 | 17,858 | 60,482 | 50,140 |
| Depreciation | 5,456 | 4,466 | 15,338 | 12,896 |
| Interest | 7,298 | 4,135 | 18,374 | 12,116 |
| Change in estimated acquisition earn-out payables | 314 | (665) | 6,574 | 1,513 |
| Total expenses | 308,733 | 263,855 | 881,473 | 738,947 |
| Income before income taxes | 112,685 | 95,455 | 301,303 | 281,167 |
| Income taxes | 44,354 | 37,706 | 118,802 | 111,280 |
| Net income | $ 68,331 | $ 57,749 | $ 182,501 | $ 169,887 |
| Net income per share: | ||||
| Basic | $ 0.47 | $ 0.40 | $ 1.26 | $ 1.18 |
| Diluted | $ 0.47 | $ 0.39 | $ 1.24 | $ 1.16 |
| Dividends declared per share | $ 0.100 | $ 0.090 | $ 0.300 | $ 0.270 |
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- Definition
Change In Estimated Acquisition Earn Out Payable No definition available.
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- Definition
The aggregate amount of expenditures for salaries, wages, profit sharing and incentive compensation, and other employee benefits, including pension and other postretirement benefit expense, but excluding share-based compensation.) No definition available.
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| X | ||||||||||
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- Definition
The aggregate amount of recurring noncash expense charged against earnings in the period to allocate the cost of assets over their estimated remaining economic lives. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Income from agency and brokerage operations (includes sales of annuities and supplemental contracts); service charges, commissions, and fees from the sale of insurance and related services; and management fees from separate accounts, deferred annuities, and universal life products. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate amount of income from investments (for example, dividends) not considered a component of the entity's core operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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| X | ||||||||||
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- Definition
The total amount of other operating cost and expense items that are associated with the entity's normal revenue producing operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Reflects the sum of all other revenue and income recognized by the entity in the period not otherwise specified in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Liability for net credit balance due customers resulting from changes, cancellation of coverage or payments collected for premiums not yet effective. No definition available.
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| X | ||||||||||
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- Definition
Insurance premiums, commissions and fees due from insured or insurance companies that are currently due, including notes receivables, accrued direct bill commissions due from carriers, guaranteed supplemental commissions and profit-sharing contingent commissions, and fees in lieu of commissions earned) No definition available.
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| X | ||||||||||
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- Definition
Insurance premiums payable (net of commissions) to insurance carriers, commissions payable to agents, brokers, third parties, etc that are currently due; also includes other insurance-related liabilities such as surplus lines and other premium related taxes and fees. No definition available.
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| X | ||||||||||
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- Definition
Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards expected to be realized or consumed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of deferred tax liability attributable to taxable temporary differences, net of deferred tax asset attributable to deductible temporary differences and carryforwards net of valuation allowances expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
The amount needed to reflect the estimated ultimate cost of settling claims relating to insured events that have occurred on or before the balance sheet date, whether or not reported to the insurer at that date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of long-term debt, after unamortized discount or premium, scheduled to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, excluding amounts to be repaid within one year or the normal operating cycle, if longer (current maturities). Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate carrying amount, as of the balance sheet date, of current assets not separately disclosed in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The unexpired portion of premiums ceded on policies in force as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount before valuation allowance recoverable under reinsurance contracts. Examples include, but are not limited to, settled and unsettled claims, incurred but not reported losses, loss adjustment expense, premium paid, policy benefits and policy reserves. No definition available.
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| X | ||||||||||
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- Definition
The current cash, cash equivalents and investments that are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. Includes current cash equivalents and investments that are similarly restricted as to withdrawal, usage or disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Investments which are intended to be sold in the short term (usually less than one year or the normal operating cycle, whichever is longer) including trading securities, available-for-sale securities, held-to-maturity securities, and other short-term investments not otherwise listed in the existing taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying amount of premiums written on insurance contracts that have not been earned as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) (USD $)
In Thousands, except Share data, unless otherwise specified |
9 Months Ended | 12 Months Ended |
|---|---|---|
|
Sep. 30, 2014
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Dec. 31, 2013
|
|
| Statement of Financial Position [Abstract] | ||
| Common stock, par value | $ 0.1 | $ 0.1 |
| Common stock, shares authorized | 280,000,000 | 280,000,000 |
| Common stock, shares issued | 145,904,000 | 145,419,000 |
| Common stock, shares outstanding | 143,765,000 | 145,419,000 |
| Treasury stock shares | 2,139,000 | 0 |
| Tax effect of accumulated other comprehensive income | $ (9) | $ 0 |
| X | ||||||||||
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- Definition
Face amount or stated value per share of common stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of tax expense (benefit) allocated to other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Number of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Change In Estimated Acquisition Earn Out Payable No definition available.
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| X | ||||||||||
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- Definition
Increase decrease for loss and loss adjustment expense. No definition available.
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| X | ||||||||||
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- Definition
The net change during the reporting period in the premiums deposits and credits due customers. No definition available.
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| X | ||||||||||
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- Definition
The net change during the reporting period in other amounts due to the reporting entity, which are not otherwise defined in the taxonomy. No definition available.
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| X | ||||||||||
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- Definition
The net change during the reporting period in the premiums payable to insurance companies. No definition available.
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| X | ||||||||||
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- Definition
Net loss (gain) on sales of investments, fixed assets and customer accounts No definition available.
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| X | ||||||||||
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- Definition
Payments on acquisition earn-outs No definition available.
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| X | ||||||||||
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- Definition
Payments on acquisition earn-outs in excess of original estimated payables. No definition available.
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| X | ||||||||||
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- Definition
Repurchase of stock benefit plan shares for employees to fund tax withholdings No definition available.
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| X | ||||||||||
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- Definition
The aggregate amount of recurring noncash expense charged against earnings in the period to allocate the cost of assets over their estimated remaining economic lives. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of cash inflow from realized tax benefit related to deductible compensation cost reported on the entity's tax return for equity instruments in excess of the compensation cost for those instruments recognized for financial reporting purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of cash outflow for realized tax benefit related to deductible compensation cost reported on the entity's tax return for equity instruments in excess of the compensation cost for those instruments recognized for financial reporting purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the aggregate amount of accrued expenses and other operating obligations not separately disclosed in the statement of cash flows. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in other assets used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current assets, other noncurrent assets, or a combination of other current and noncurrent assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in other liabilities used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current liabilities, other noncurrent liabilities, or a combination of other current and noncurrent liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The change in prepaid reinsurance premiums recorded on the balance sheet, which is needed to adjust net income to arrive at net cash flows provided by or used in operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the amount of benefits the ceding insurer expects to recover on insurance policies ceded to other insurance entities as of the balance sheet date for all guaranteed benefit types. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The net cash inflow or outflow for the increase (decrease) associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as investing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of increase (decrease) unearned premiums written. Excludes portion of unearned premiums amortized into income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow to reacquire common stock during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow to reacquire other equity not otherwise defined in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Cash outflow in the form of capital distributions and dividends to common shareholders, preferred shareholders and noncontrolling interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow associated with the purchase of all investments (debt, security, other) during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash inflow from a debt initially having maturity due after one year or beyond the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of cash inflow from contractual arrangement with the lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash inflow associated with the sale, maturity and collection of all investments such as debt, security and so forth during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash inflow from the sale of property, plant and equipment (capital expenditures), software, and other intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of cash outflow for payment of an obligation from a lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Nature of Operations
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9 Months Ended |
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Sep. 30, 2014
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| Accounting Policies [Abstract] | |
| Nature of Operations | NOTE 1· 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 services organization that markets and sells to its customers insurance products and services, primarily in the property and casualty area. Brown & Brown’s business is divided into four reportable segments: the Retail Segment, which provides a broad range of insurance products and services to commercial, public entity, professional and individual customers; the National Programs Segment, acting as a managing general agent (“MGA”), provides professional liability and related package products for certain professionals, flood coverage, 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 markets; the Wholesale Brokerage Segment, which markets and sells excess and surplus commercial insurance and reinsurance, primarily through independent agents and brokers; and 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 catastrophe claims adjusting services. In addition, as the result of our acquisition of the stock of The Wright Insurance Group, LLC (“Wright”), in May 2014, we own a flood insurance carrier, Wright National Flood Insurance Company (“WNFIC”), that is a Wright subsidiary. This carrier’s business consists of policies written pursuant to the National Flood Insurance Program (“NFIP”), the program administered by the Federal Emergency Management Agency (“FEMA”) and several excess flood insurance policies which are fully reinsured. |
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- Details
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- Definition
The entire disclosure for the nature of an entity's business, the major products or services it sells or provides and its principal markets, including the locations of those markets. If the entity operates in more than one business, the disclosure also indicates the relative importance of its operations in each business and the basis for the determination (for example, assets, revenues, or earnings). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Basis of Financial Reporting
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9 Months Ended |
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Sep. 30, 2014
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| Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
| Basis of Financial Reporting | NOTE 2· Basis of Financial Reporting The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. GAAP for interim financial information and with the instructions for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto set forth in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. The preparation of these financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses. We continually evaluate our estimates, which are based on historical experience and on various other assumptions that we believe to be reasonable under the circumstances. These estimates form the basis for our judgments about the carrying values of our assets and liabilities, which values are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions Recently Issued Accounting Pronouncements Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern. In August 2014, the Financial Accounting Standards Board (the “FASB”) issued guidance on disclosure of uncertainties about an entity’s ability to continue as a going concern. This guidance addresses management’s responsibility in evaluating whether there is substantial doubt about a company’s ability to continue as a going concern and to provide related footnote disclosures. The guidance is effective for fiscal years beginning after December 15, 2016 and for interim periods within those fiscal years, with early adoption permitted. The Company does not expect to early adopt this guidance and it believes the adoption of this guidance will not have material impact on the Consolidated Financial Statements. In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers” (“ASU 2014-09”), which provides guidance for revenue recognition. ASU 2014-09 affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets and supersedes the revenue recognition requirements in Topic 605, “Revenue Recognition,” and most industry-specific guidance. The standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which a company expects to be entitled in exchange for those goods or services. In doing so, companies will need to use more judgment and make more estimates than under today’s guidance. These may include identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. ASU 2014-09 is effective for the Company beginning November 1, 2017 and, at that time the Company may adopt the new standard under the full retrospective approach or the modified retrospective approach. Early adoption is not permitted. The Company is currently evaluating the method and impact the adoption of ASU 2014-09 will have on the Company’s condensed consolidated financial statements and disclosures.
Financial Reporting Related to Insurance Company Operations Reinsurance The Company protects itself from claims related losses by reinsuring all claims related risk exposure. The only line of insurance the Company writes is flood insurance associated with the Wright acquisition, with all exposure reinsured with FEMA for basic admitted policies conforming to the National Flood Insurance Program. For excess flood insurance policies, all exposure is reinsured with a reinsurance carrier. 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 related 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 a national reinsurance carrier for excess flood policies, which is rated A+ from AM Best. Historically, no amounts due from reinsurance carriers have been written off as uncollectible. Unpaid Losses and Loss Adjustment Expense Unpaid losses and loss adjustment expenses include amounts determined on individual claims and other estimates based on the past experience of WNFIC and the policyholders for incurred but not reported (“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 expenses. 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 expenses are adequate. Premiums Premiums 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. |
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- Details
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- Definition
The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Net Income Per Share
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Sep. 30, 2014
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| Earnings Per Share [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Income Per Share | NOTE 3· Net Income Per Share Basic EPS is computed based on the weighted average number of common shares (including participating securities) issued and outstanding during the period. Diluted EPS is computed based on the weighted average number of common shares issued and outstanding plus equivalent shares, assuming the exercise of stock options. The following is a reconciliation between basic and diluted weighted average shares outstanding:
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- Details
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- Definition
The entire disclosure for earnings per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Business Combinations
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9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2014
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| Business Combinations [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Business Combinations | NOTE 4· Business Combinations During the nine months ended September 30, 2014, Brown & Brown acquired the assets and assumed certain liabilities of five insurance intermediaries, all of the stock of one insurance intermediary that owns an insurance carrier and several books of business (customer accounts). Additionally, miscellaneous adjustments were recorded to the purchase price allocation of certain prior acquisitions completed within the last twelve months as permitted by ASC Topic 805 — Business Combinations (“ASC 805”). All of these acquisitions were acquired primarily to expand Brown & Brown’s core business and to attract and hire high-quality individuals. The recorded purchase price for all acquisitions consummated after January 1, 2009 included 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 will be recorded in the Condensed Consolidated Statement of Income when incurred. The fair value of earn-out obligations is based on 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 on the acquisition date and the complexity of the underlying valuation work, certain amounts included in the Company’s Condensed Consolidated Financial Statements may be provisional and thus subject to further adjustments within the permitted measurement period, as defined in ASC 805. For the nine months ended September 30, 2014, several adjustments were made within the permitted measurement period that resulted in a decrease in the aggregate purchase price of the affected acquisitions of $93,000 relating to the assumption of certain liabilities. Cash paid for acquisitions were $720.1 million and $379.7 million in the nine-month periods ended September 30, 2014 and 2013, respectively. We completed 6 acquisitions in the nine-month period ended September 30, 2014. We completed 4 acquisitions (excluding books of business purchases) in the nine-month period ended September 30, 2013, with the largest being Beecher Carlson Holdings, Inc. which was effective July 1, 2013 and cash paid totaled to $364.2 million.
The following table summarizes the aggregate purchase price allocations made as of the date of the acquisitions for the current-year acquisitions and adjustments made during the measurement period for prior-year acquisitions:
The following table summarizes the adjustments made to the estimated fair values along with the aggregate assets and liabilities acquired as of the date of each acquisition:
The weighted average useful lives for the amortizable intangible assets acquired in the current year are as follows: purchased customer accounts, 15.0 years; and non-compete agreements, 3.3 years. Goodwill of $506,335,000 was allocated to the Retail, National Programs, Wholesale Brokerage and Services Segments in the amounts of $71,449,000, $427,802,000, $7,323,000 and ($239,000), respectively. Of the total goodwill of $506,335,000, $141,757,000 is currently deductible for income tax purposes and $351,641,000 is non-deductible. The remaining $12,937,000 relates to the recorded earn-out payables and will not be deductible until it is earned and paid. The results of operations for the acquisitions completed during 2014 have been combined with those of the Company since the acquisition date. The total revenues and income before income taxes from the acquisitions completed through September 30, 2014, included in the Condensed Consolidated Statement of Income for the nine months ended September 30, 2014, were $77,064,000 and $5,166,000, respectively. 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.
As of September 30, 2014 and 2013, 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). The resulting additions, payments, and net changes, as well as the interest expense accretion on the estimated acquisition earn-out payables, for the three and nine months ended September 30, 2014 and 2013, were as follows:
Of the $52,326,000 estimated acquisition earn-out payables as of September 30, 2014, $19,751,000 was recorded as accounts payable and $32,575,000 was recorded as other non-current liabilities. |
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The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Goodwill
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Sep. 30, 2014
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| Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill | NOTE 5· Goodwill Goodwill is subject to at least an annual assessment for impairment by applying a fair value-based test. Brown & Brown completed its most recent annual assessment as of November 30, 2013, and identified no impairment as a result of the evaluation. The changes in the carrying value of goodwill by reportable segment for the nine months ended September 30, 2014 are as follows:
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The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amortizable Intangible Assets
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Sep. 30, 2014
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| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Amortizable Intangible Assets | NOTE 6· Amortizable Intangible Assets Amortizable intangible assets at September 30, 2014 and December 31, 2013, consisted of the following:
Amortization expense for amortizable intangible assets for the years ending December 31, 2014, 2015, 2016, 2017 and 2018 is estimated to be $82,445,000, $86,773,000, $82,243,000, $79,289,000, and $73,888,000, respectively. |
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- Definition
The entire disclosure for all or part of the information related to intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Long-Term Debt
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Sep. 30, 2014
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| Debt Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Long-Term Debt | NOTE 7· Long-Term Debt Long-term debt at September 30, 2014 and December 31, 2013 consisted of the following:
In July 2004, the Company completed a private placement of $200.0 million of unsecured senior notes (the “Notes”). The $200.0 million was divided into two series: (1) Series A, which closed on September 15, 2004, for $100.0 million due in 2011 and bore interest at 5.57% per year; and (2) Series B, which closed on July 15, 2004, for $100.0 million due in 2014 and bore interest at 6.08% per year. On September 15, 2011, the $100.0 million of Series A Notes were redeemed on their normal maturity date through use of funds from the Master Agreement (defined below). As of July 15, 2014 Series B notes were redeemed at maturity using proceeds from the Credit Facility (defined below). On January 9, 2012, the Company entered into: (1) an amended and restated revolving and term loan credit agreement (the “SunTrust Agreement”) with SunTrust Bank (“SunTrust”) that provided for (a) a $100.0 million term loan (the “SunTrust Term Loan”) and (b) a $50.0 million revolving line of credit (the “SunTrust Revolver”) and (2) a $50.0 million promissory note. The maturity date for the SunTrust Term Loan and the SunTrust Revolver was December 31, 2016, at which time all outstanding principal and unpaid interest would have been due. On May 20, 2014, in connection with closing the Wright acquisition and funding of the Credit Facility (as defined below), the SunTrust Term Loan was paid in full using proceeds from the Credit Facility and the SunTrust Revolver was also terminated at that time. On January 26, 2012, the Company entered into a term loan agreement (the “JPM Agreement”) with JPMorgan that provided for a $100.0 million term loan (the “JPM Term Loan”). The JPM Term Loan was fully funded on January 26, 2012, and provided the financing to fully repay (1) the JPM Bridge Facility and (2) the SunTrust Revolver. As a result of the January 26, 2012 financing and repayments, the JPM Bridge Facility was terminated and the SunTrust Revolver’s amount outstanding was reduced to zero. The maturity date for the JPM Term Loan was December 31, 2016, at which time all outstanding principal and unpaid interest would have been due. On May 20, 2014, in connection with closing the Wright acquisition and funding of the Credit Facility (as defined below), the JPM Term Loan was paid in full and terminated using proceeds from the Credit Facility. On July 1, 2013, in conjunction with the acquisition of Beecher Carlson Holdings, Inc., the Company entered into: (1) a revolving loan agreement (the “Wells Fargo Agreement”) with Wells Fargo Bank, N.A. that provided for a $50.0 million revolving line of credit (the “Wells Fargo Revolver”) and (2) a term loan agreement (the “Bank of America Agreement”) with Bank of America, N.A. (“Bank of America”) that provided for a $30.0 million term loan (the “Bank of America Term Loan”). The maturity date for the Wells Fargo Revolver is December 31, 2016, at which time all outstanding principal and unpaid interest will be due. The Wells Fargo Revolver may be increased by up to $50.0 million (bringing the total amount available to $100.0 million). The calculation of interest and fees for the Wells Fargo Agreement is generally based on the Company’s funded debt-to-EBITDA ratio. Interest is charged at a rate equal to 1.00% to 1.40% above LIBOR or 1.00% below the Base Rate, each as more fully described in the Wells Fargo Agreement. Fees include an up-front fee, an availability fee of 0.175% to 0.25%, and a letter of credit margin fee of 1.00% to 1.40%. The obligations under the Wells Fargo Revolver are unsecured and the Wells Fargo Agreement includes various covenants, limitations and events of default that are customary for similar facilities for similar borrowers. As of April 16, 2014, in connection with the signing of the Credit Facility an amendment to the agreement was established to reduce the total revolving loan commitment from $50.0 million to $25.0 million. There were no borrowings against the Wells Fargo Revolver as of September 30, 2014 and December 31, 2013. The maturity date for the Bank of America Term Loan was December 31, 2016, at which time all outstanding principal and unpaid interest would have been due. The Bank of America Term Loan was funded in the amount of $30.0 million on July 1, 2013. On May 20, 2014, in connection with closing the Wright acquisition and funding of the Credit Facility, the term loan was paid in full using proceeds from the Credit Facility (as defined below). The 30-day Adjusted LIBOR Rate as of September 30, 2014 was 0.19%.
On April 17, 2014, the Company entered into a credit agreement with JPMorgan Chase Bank, N.A. as administrative agent and certain other banks as co-syndication agents and co-documentation agents (the “Credit Agreement”). The Credit Agreement in the amount of $1,350.0 million provides for an unsecured revolving credit facility (the “Credit Facility”) in the initial amount of $800.0 million and unsecured term loans in the initial amount of $550.0 million, either or both of which may, subject to lenders’ discretion, potentially be increased by up to $500.0 million. The Credit Facility was funded on May 20, 2014 in conjunction with the closing of the Wright acquisition, with the $550.0 million term loan being funded as well as a drawdown of $375.0 million on the revolving loan facility. Use of these proceeds were to retire existing term loan debt including the JPM Term Loan Agreement, SunTrust Term Loan Agreement and Bank of America Term Loan Agreement in total of $230.0 million (as described above) and to facilitate the closing of the Wright acquisition as well as other acquisitions. The Credit Facility terminates on May 20, 2019, but either or both of the revolving credit facility and the term loans may be extended for two additional one-year periods at the Company’s request and at the discretion of the respective lenders. Interest and facility fees in respect to the Credit Facility are based on the better of the Company’s net debt leverage ratio or a non-credit enhanced senior unsecured long-term debt rating. Based on the Company’s net debt leverage ratio, the rates of interest for the first two quarters charged on the term loan and revolving loan is 1.375% and 1.175% respectively and above the adjusted LIBOR rate for outstanding amounts drawn. There are fees included in the facility which include a facility fee based on the revolving credit commitments of the lenders (whether used or unused) at a rate of 0.20% and letter of credit fees based on the amounts of outstanding secured or unsecured letters of credit. The Credit Facility includes various covenants, limitations and events of default customary for similar facilities for similarly rated borrowers. As of September 30, 2014, there was an outstanding debt balance issued under the provisions of the Credit Facility in total of $550.0 million with no proceeds outstanding relative to the revolving loan. On September 18, 2014 the Company issued $500.0 million of 4.200% unsecured senior notes due 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 other general corporate purposes. The Notes, the Master Agreement and the Credit Agreement all 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 September 30, 2014 and December 31, 2013. NOTE 8· Supplemental Disclosures of Cash Flow Information and Non-Cash Financing and Investing Activities
Brown & Brown’s significant non-cash investing and financing activities are summarized as follows:
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- Definition
The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Supplemental Disclosures of Cash Flow Information and Non-Cash Financing and Investing Activities
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Sep. 30, 2014
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| Supplemental Disclosures of Cash Flow Information and Non-Cash Financing and Investing Activities | NOTE 8· Supplemental Disclosures of Cash Flow Information and Non-Cash Financing and Investing Activities
Brown & Brown’s significant non-cash investing and financing activities are summarized as follows:
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- Definition
The entire disclosure for supplemental cash flow activities, including cash, noncash, and part noncash transactions, for the period. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Legal and Regulatory Proceedings
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9 Months Ended |
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Sep. 30, 2014
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| Commitments and Contingencies Disclosure [Abstract] | |
| Legal and Regulatory Proceedings | NOTE 9· Legal and Regulatory Proceedings The Company is involved in numerous pending or threatened proceedings by or against Brown & Brown, Inc. or one or more of its subsidiaries that arise in the ordinary course of business. The damages that may be claimed against the Company in these various proceedings are in some cases substantial, including in many instances claims for punitive or extraordinary damages. Some of these claims and lawsuits have been resolved, others are in the process of being resolved and others are still in the investigation or discovery phase. The Company will continue to respond appropriately to these claims and lawsuits and to vigorously protect its interests.
Although the ultimate outcome of such matters cannot be ascertained and liabilities in indeterminate amounts may be imposed on Brown & Brown, Inc. or its subsidiaries, on the basis of present information, availability of insurance and legal advice, it is the opinion of management that the disposition or ultimate determination of such claims will not have a material adverse effect on the Company’s condensed consolidated financial position. However, as (i) one or more of the Company’s insurance companies 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. |
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The entire disclosure for commitments and contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Segment Information
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| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Information | NOTE 10· Segment Information Brown & Brown’s business is divided into four reportable segments: 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; the National Programs Segment, which provides professional liability and related package products for certain professionals delivered through nationwide networks of independent agents, markets targeted products and services designed for specific industries, trade groups, public and quasi-public entities, and market niches and provides flood coverage; the Wholesale Brokerage Segment, which markets and sells excess and surplus commercial and personal lines insurance, and reinsurance, primarily through independent agents and brokers; and 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 catastrophe claims adjusting services. Brown & Brown conducts all of its operations within the United States of America, except for one wholesale brokerage subsidiary based in London, England, and retail subsidiaries in Bermuda and the Cayman Islands. These three subsidiaries earned $3.2 million and $2.3 million of total revenues for the three months ended September 30, 2014 and 2013, respectively. These subsidiaries earned $10.2 million and $8.2 million of total revenues for the nine months ended September 30, 2014 and 2013, respectively. Additionally, these subsidiaries earned $12.2 million of total revenues for the year ended December 31, 2013. Long-lived assets held outside of the United States during the nine months ended September 30, 2014 and 2013 were not material. The accounting policies of the reportable segments are the same as those described in Note 1 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. Brown & Brown evaluates the performance of its segments based upon revenues and income before income taxes. Inter-segment revenues are eliminated.
Summarized financial information concerning Brown & Brown’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 inter-company interest expense charge to the reporting segment.
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- Definition
The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Investments
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Sep. 30, 2014
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| Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investments | NOTE 11· Investments At September 30, 2014, the Company’s amortized cost and fair values of fixed maturity securities related to our insurance company operations are summarized as follows:
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 September 30, 2014.
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 September 30, 2014, the Company had 38 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 on 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 September 30, 2014. The amortized cost and estimated fair value of the fixed maturity securities at September 30, 2014 by contractual maturity are set forth below:
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 sales of the Company’s investment in fixed maturity securities were $0.2 million including maturities from the period May 1, 2014 to September 30, 2014. There were no gains and losses realized on those sales for the period from May 1, 2014 to September 30, 2014. Realized gains and losses are reported on the consolidated statements of operations and comprehensive loss, with the cost of securities sold determined on a specific identification basis. |
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The entire disclosure for investments in certain debt and equity securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Reinsurance and Loss and Loss Adjustment Expenses
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Sep. 30, 2014
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| Reinsurance and Loss and Loss Adjustment Expenses | NOTE 12· Reinsurance and Losses and Loss Adjustment Expenses The Company reinsures hundred percent of its insurance coverage with reinsurers to limit the amount of loss on individual claims. Although the reinsurers are liable to the Company for amounts reinsured, the Company 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 are as follows:
All premiums written by WNFIC under the National Flood Insurance Program are 100% ceded to FEMA, for which the Company receives a 30.7% expense allowance. For the period from May 1, 2014 through September 30, 2014, the Company ceded $315.1 million of written premiums. Effective April 1, 2014, WNFIC is also a party to a quota share agreement whereby it cedes 100% of its gross excess flood premiums which excludes fees to Arch Reinsurance Company and receives a 30.5% commission. WNFIC ceded $0.5 million for the period from May 1 through September 30, 2014. No loss data exists on this agreement. The Company also ceded 100% of the Homeowners and Private Passenger Auto Liability to Stillwater Insurance Company formerly known as Fidelity National Insurance Company. This business is in runoff. Therefore, only loss data still exists on this business. As of September 30, 2014, ceded unpaid losses and loss adjustment expenses for Homeowners and Private Passenger Auto Liability was $0.0 million and $0.3 million, respectively. The incurred but not reported was $0.2 million for Homeowners and $0.2 million for Private Passenger Auto Liability. The reinsurance recoverable balance as of September 30, 2014 was $23.2 million and is comprised of recoverables on unpaid losses and loss expenses. There was no net activity in the reserve for losses and loss adjustment expense during the period May 1, 2014 through September 30, 2014, as the Company’s direct premiums written were hundred percent ceded to three reinsurers. The balance of the reserve for losses and loss adjustment expense, excluding related reinsurance recoverables, as of September 30, 2014 was $23.2 million. |
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Reinsurance Loss, Loss Adjustment Expenses [Text Block] No definition available.
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Statutory Financial Information
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Sep. 30, 2014
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| Text Block [Abstract] | |
| Statutory Financial Information | NOTE 13· Statutory Financial Information WNFIC is required to maintain minimum amounts of statutory capital and surplus as required by regulatory authorities. WNFIC’s statutory capital and surplus exceeded their respective minimum statutory requirements. The unaudited statutory capital and surplus of WNFIC was $9.4 million at September 30, 2014. For the period from January 1, 2014 through September 30, 2014, WNFIC generated statutory net income of $0.9 million. After the May 19, 2014 distribution of WNFIC to WRM America Intermediate Holding Company, Inc. but prior to the consummation of the Brown and Brown purchase of Wright and its subsidiaries, WNFIC issued and paid an extraordinary dividend of $7.0 million to its parent. That dividend was issued and paid with the prior approval of the Texas Department of Insurance. |
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The entire disclosure for statutory financial information. No definition available.
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Subsidiary Dividend Restrictions
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Sep. 30, 2014
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| Text Block [Abstract] | |
| Subsidiary Dividend Restrictions | NOTE 14· Subsidiary Dividend Restrictions Under the insurance regulations of Texas, the maximum amount of ordinary dividends that WNFIC can pay to shareholders in a rolling twelve month period is limited to the greater of 10% of statutory adjusted capital and surplus as shown on WNFIC’s last annual statement on file with the superintendent or 100% of adjusted net income. As an extraordinary dividend of $7.0 million was paid on May 20, 2014, no ordinary dividend may be paid until May 21, 2015. |
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Describes the restrictions that Allegheny has in relation to paying cash dividends to its common shareholders. No definition available.
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Shareholders' Equity
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| Equity [Abstract] | |
| Shareholders' Equity | NOTE 15· Shareholders’ Equity On July 21, 2014, the Company’s Board of Directors authorized the repurchase of up to $200 million of its shares of common stock. This is in addition to the $25.0 million that was authorized in the first quarter and executed in the second quarter of 2014. On September 2, 2014, the Company entered into an accelerated share repurchase agreement (“ASR”) with an investment bank to repurchase an aggregate $50.0 million of the Company’s common stock. As part of the ASR, the Company received an initial delivery of 1,293,760 shares of the Company’s common stock with a fair market value of approximately $42.5 million, which is included in treasury stock in the accompanying Consolidated Balance Sheet as of September 30, 2014. The initial delivery of 1,293,760 shares reduced the outstanding shares used to determine the Company’s weighted average shares outstanding for purposes of calculating basic and diluted earnings per share. The remaining $7.5 million of the aggregate repurchase amount was included in additional paid-in capital in the accompanying Consolidated Balance Sheet as of September 30, 2014. The total number of shares repurchased under the ASR of 1,539,760 was determined upon settlement on October 8, 2014 and was based on the Company’s volume weighted average price per its common share over the ASR period less a discount. |
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The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Nature of Operations (Policies)
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Sep. 30, 2014
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| Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
| 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 services organization that markets and sells to its customers insurance products and services, primarily in the property and casualty area. Brown & Brown’s business is divided into four reportable segments: the Retail Division, which provides a broad range of insurance products and services to commercial, public entity, professional and individual customers; the National Programs Division, acting as a managing general agent (“MGA”), provides professional liability and related package products for certain professionals, flood coverage, 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 markets; the Wholesale Brokerage Division, which markets and sells excess and surplus commercial insurance and reinsurance, primarily through independent agents and brokers; and the Services Division, 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 catastrophe claims adjusting services. In addition, as the result of our acquisition of the stock of The Wright Insurance Group, LLC (“Wright”), in May 2014, we own a flood insurance carrier that is a Wright subsidiary. This carrier’s business consists of policies written pursuant to the National Flood Insurance Program (“NFIP”), the program administered by the Federal Emergency Management Agency (“FEMA”) and several excess flood insurance policies which are fully reinsured. |
| Unpaid Losses and Loss Adjustment Expense | Unpaid Losses and Loss Adjustment Expense Unpaid losses and loss adjustment expenses include amounts determined on individual claims and other estimates based on the past experience of WNFIC and the policyholders for incurred but not reported (“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 expenses. 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 expenses are adequate. |
| Reinsurance | Reinsurance The Company protects itself from claims related losses by reinsuring all claims related risk exposure. The only line of insurance the Company writes is flood insurance associated with the Wright acquisition, with all exposure reinsured with FEMA for basic admitted policies conforming to the National Flood Insurance Program. For excess flood insurance policies, all exposure is reinsured with a reinsurance carrier. 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 related 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 a national reinsurance carrier for excess flood policies, which is rated A+ from AM Best. Historically, no amounts due from reinsurance carries have been written off as uncollectible. |
| Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern. In August 2014, the Financial Accounting Standards Board (the “FASB”) issued guidance on disclosure of uncertainties about an entity’s ability to continue as a going concern. This guidance addresses management’s responsibility in evaluating whether there is substantial doubt about a company’s ability to continue as a going concern and to provide related footnote disclosures. The guidance is effective for fiscal years beginning after December 15, 2016 and for interim periods within those fiscal years, with early adoption permitted. The Company does not expect to early adopt this guidance and it believes the adoption of this guidance will not have material impact on the Consolidated Financial Statements. In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers” (“ASU 2014-09”), which provides guidance for revenue recognition. ASU 2014-09 affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets and supersedes the revenue recognition requirements in Topic 605, “Revenue Recognition,” and most industry-specific guidance. The standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which a company expects to be entitled in exchange for those goods or services. In doing so, companies will need to use more judgment and make more estimates than under today’s guidance. These may include identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. ASU 2014-09 is effective for the Company beginning November 1, 2017 and, at that time the Company may adopt the new standard under the full retrospective approach or the modified retrospective approach. Early adoption is not permitted. The Company is currently evaluating the method and impact the adoption of ASU 2014-09 will have on the Company’s condensed consolidated financial statements and disclosures. |
| Premiums | Premiums Premiums 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. |
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- Definition
Nature Of Operation Policy. No definition available.
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Unpaid Losses Loss Adjustment Expense Policy [Policy Text Block] No definition available.
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Disclosure of accounting policy for premium revenue recognition, including the basis for measurement and the timing of recognition of revenue from insurance premiums received from contract holders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact. No definition available.
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- Definition
Disclosure of reinsurance accounting policy, for example, but not limited to, description of the methodologies and assumptions underlying determination of reinsurance recoverables, reinsurance payables and retention policy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Net Income Per Share (Tables)
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Sep. 30, 2014
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| Earnings Per Share [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Reconciliation between Basic and Diluted Weighted Average Shares Outstanding | The following is a reconciliation between basic and diluted weighted average shares outstanding:
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- Definition
Tabular disclosure of the weighted average number of shares used in calculating basic net earnings per share (or unit) and diluted earnings per share (or unit). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Business Combinations (Tables)
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Sep. 30, 2014
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2014 Acquisitions [Member]
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| Acquisitions Accounted for Business Combinations | The following table summarizes the aggregate purchase price allocations made as of the date of the acquisitions for the current-year acquisitions and adjustments made during the measurement period for prior-year acquisitions:
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| Estimated Fair Values of Aggregate Assets and Liabilities Acquired | The following table summarizes the adjustments made to the estimated fair values along with the aggregate assets and liabilities acquired as of the date of each acquisition:
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| Results of Operations | 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.
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2013 Acquisitions [Member]
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| 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 three and nine months ended September 30, 2014 and 2013, were as follows:
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Schedule Of Business Acquisition Estimated Earn-Out Payables. No definition available.
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- Definition
Tabular disclosure of all of the fair values of the purchase price and assets and liabilities acquired in a business combination. No definition available.
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Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Goodwill (Tables)
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Sep. 30, 2014
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| 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 nine months ended September 30, 2014 are as follows:
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Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amortizable Intangible Assets (Tables)
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Sep. 30, 2014
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| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Amortizable Intangible Assets | Amortizable intangible assets at September 30, 2014 and December 31, 2013, consisted of the following:
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- Definition
Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Long-Term Debt (Tables)
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Sep. 30, 2014
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| Debt Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Long-Term Debt Instrument | Long-term debt at September 30, 2014 and December 31, 2013 consisted of the following:
|
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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|
Supplemental Disclosures of Cash Flow Information and Non-Cash Financing and Investing Activities (Tables)
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9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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Sep. 30, 2014
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| Supplemental Cash Flow Elements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Supplemental Disclosures of Cash Flow Information and Non-Cash Financing and Investing Activities |
Brown & Brown’s significant non-cash investing and financing activities are summarized as follows:
|
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| X | ||||||||||
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- Definition
Tabular disclosure of supplemental cash flow information for the periods presented. No definition available.
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| X | ||||||||||
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- Details
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Segment Information (Tables)
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9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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Sep. 30, 2014
|
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| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summarized Financial Information Reportable Segments | Summarized financial information concerning Brown & Brown’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 inter-company interest expense charge to the reporting segment.
|
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| X | ||||||||||
|
- Definition
Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Details
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Investments (Tables)
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9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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Sep. 30, 2014
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| Investments, Debt and Equity Securities [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Investments in Fixed Maturity Securities | At September 30, 2014, the Company’s amortized cost and fair values of fixed maturity securities related to our insurance company operations are summarized as follows:
|
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| Summary of Unrealized 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 September 30, 2014.
|
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| 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 September 30, 2014 by contractual maturity are set forth below:
|
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| X | ||||||||||
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- Definition
Available For Sale Securities Debt Maturities Table [Text Block] No definition available.
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| X | ||||||||||
|
- Definition
Unrealized Loss Position Investments Table [Text Block] No definition available.
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| X | ||||||||||
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- Definition
Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. No definition available.
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| X | ||||||||||
|
- Details
|
|
Reinsurance and Loss and Loss Adjustment Expenses (Tables)
|
9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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Sep. 30, 2014
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| Text Block [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Effects of Reinsurance on Premiums Written and Earned | The effects of reinsurance on premiums written and earned are as follows:
|
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| Summary of Reinsurance Recoverable | The reinsurance recoverable balances as of September 30,
2014 are comprised of the following:
|
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| X | ||||||||||
|
- Definition
Tabular disclosure of the effects of reinsurance, for example, but not limited to, disclosure of direct, assumed, and ceded insurance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Tabular disclosure of reinsurer or group of reinsurers for whom the entity has a concentration of credit risk. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Details
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|
Nature of Operations - Additional Information (Detail)
|
9 Months Ended |
|---|---|
|
Sep. 30, 2014
Segment
|
|
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| Number of reportable segments | 4 |
| X | ||||||||||
|
- Definition
Number of segments reported by the entity. A reportable segment is a component of an entity for which there is an accounting requirement to report separate financial information on that component in the entity's financial statements. No definition available.
|
| X | ||||||||||
|
- Details
|
|
Net Income Per Share - Reconciliation between Basic and Diluted Weighted Average Shares Outstanding (Detail) (USD $)
In Thousands, except Per Share data, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
|
Sep. 30, 2014
|
Sep. 30, 2013
|
Sep. 30, 2014
|
Sep. 30, 2013
|
|
| Earnings Per Share [Abstract] | ||||
| Net income | $ 68,331 | $ 57,749 | $ 182,501 | $ 169,887 |
| Net income attributable to unvested awarded performance stock | (1,681) | (1,626) | (4,604) | (4,092) |
| Net income attributable to common shares | $ 66,650 | $ 56,123 | $ 177,897 | $ 165,795 |
| Weighted average number of common shares outstanding - basic | 144,469 | 145,228 | 144,909 | 144,403 |
| Less unvested awarded performance stock included in weighted average number of common shares outstanding - basic | (3,554) | (4,089) | (3,656) | (3,478) |
| Weighted average number of common shares outstanding for basic earnings per common share | 140,915 | 141,139 | 141,253 | 140,925 |
| Weighted average number of common shares outstanding for basic earnings per common share | 140,915 | 141,139 | 141,253 | 140,925 |
| Dilutive effect of stock options | 2,049 | 1,650 | 1,849 | 1,551 |
| Weighted average number of shares outstanding - diluted | 142,964 | 142,789 | 143,102 | 142,476 |
| Basic | $ 0.47 | $ 0.40 | $ 1.26 | $ 1.18 |
| Diluted | $ 0.47 | $ 0.39 | $ 1.24 | $ 1.16 |
| X | ||||||||||
|
- Definition
Net income attributable to unvested awarded performance stock No definition available.
|
| X | ||||||||||
|
- Details
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| X | ||||||||||
|
- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents nonvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid). Basic and dilutive earnings per share are generally disclosed for such shares using the two-class method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Additional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of share based payment arrangements using the treasury stock method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the weighted average total number of shares issued throughout the period including the first (beginning balance outstanding) and last (ending balance outstanding) day of the period before considering any reductions (for instance, shares held in treasury) to arrive at the weighted average number of shares outstanding. Weighted average relates to the portion of time within a reporting period that common shares have been issued and outstanding to the total time in that period. Such concept is used in determining the weighted average number of shares outstanding for purposes of calculating earnings per share (basic). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Business acquisition earn out payables. No definition available.
|
| X | ||||||||||
|
- Definition
The amount of goodwill not deductible for tax purposes. No definition available.
|
| X | ||||||||||
|
- Definition
Business acquisitions purchase price allocation adjustment purchase price. No definition available.
|
| X | ||||||||||
|
- Definition
Business Acquisitions Purchase Price Allocation Goodwill No definition available.
|
| X | ||||||||||
|
- Definition
Business Combination Pro Forma Information Income Loss Before Income Taxes Of Acquiree Since Acquisition Date Actual No definition available.
|
| X | ||||||||||
|
- Definition
Earn out payable not deductible until earned paid No definition available.
|
| X | ||||||||||
|
- Definition
Weighted average amortization period of finite-lived intangible assets acquired either individually or as part of a group of assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of goodwill arising from a business combination that is expected to be deductible for tax purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the amount of revenue of the acquiree since the acquisition date included in the consolidated income statement for the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value portion of asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of businesses acquired by the entity during the period. No definition available.
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the acquisition of business during the period. The cash portion only of the acquisition price. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Business Acquisition Cost Of Acquired Entity Other Payable No definition available.
|
| X | ||||||||||
|
- Definition
Business Acquisitions Contingent Consideration At Fair Value No definition available.
|
| X | ||||||||||
|
- Definition
Date when the acquirer obtains control of the acquiree, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For contingent consideration arrangements recognized in connection with a business combination, this element represents an estimate of the high-end of the potential range (undiscounted) of the consideration which may be paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount recognized as of the acquisition date for the identifiable assets acquired in excess of (less than) the aggregate liabilities assumed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the acquisition of business during the period. The cash portion only of the acquisition price. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Business Acquisition Purchase Price Allocation Current Assets Prepaid Expenses And Other Assets No definition available.
|
| X | ||||||||||
|
- Definition
Business Acquisition, Purchase Price Allocation, Deferred Income Tax, Assets (Liabilities) No definition available.
|
| X | ||||||||||
|
- Definition
Business Acquisition Purchase Price Allocation Other Liabilities Assumed No definition available.
|
| X | ||||||||||
|
- Definition
Business Acquisition Purchase Price Allocation Prepaid Reinsurance Premiums No definition available.
|
| X | ||||||||||
|
- Definition
Business Acquisition Purchase Price Allocation Reinsurance Recoverables No definition available.
|
| X | ||||||||||
|
- Definition
Business Acquisition Purchase Price Allocation Unearned Premium No definition available.
|
| X | ||||||||||
|
- Definition
Business Acquisitions Purchase Price Allocation Amortizable Intangible Assets No definition available.
|
| X | ||||||||||
|
- Definition
Business Acquisitions Purchase Price Allocation Assets Acquired No definition available.
|
| X | ||||||||||
|
- Definition
Business Acquisitions Purchase Price Allocation Current Assets Cash And Cash Equivalents No definition available.
|
| X | ||||||||||
|
- Definition
Business Acquisitions Purchase Price Allocation Current Liabilities No definition available.
|
| X | ||||||||||
|
- Definition
Business Acquisitions Purchase Price Allocation Liabilities Assumed No definition available.
|
| X | ||||||||||
|
- Definition
Business Acquisitions Purchase Price Allocation Losses And Loss Adjustment Expense No definition available.
|
| X | ||||||||||
|
- Definition
Business acquisitions purchase price allocation non-compete agreements gross. No definition available.
|
| X | ||||||||||
|
- Definition
Business Acquisitions Purchase Price Allocation Other Noncurrent Assets No definition available.
|
| X | ||||||||||
|
- Definition
Business Acquisitions Purchase Price Allocation Property Plant And Equipment No definition available.
|
| X | ||||||||||
|
- Definition
Amount recognized as of the acquisition date for the identifiable assets acquired in excess of (less than) the aggregate liabilities assumed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value portion of asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Business Combinations - Results of Operations (Detail) (USD $)
In Thousands, except Per Share data, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
|
Sep. 30, 2014
|
Sep. 30, 2013
|
Sep. 30, 2014
|
Sep. 30, 2013
|
|
| Weighted average number of shares outstanding: | ||||
| Basic | 140,915 | 141,139 | 141,253 | 140,925 |
| Diluted | 142,964 | 142,789 | 143,102 | 142,476 |
|
2014 Acquisitions [Member]
|
||||
| Business Acquisition, Pro Forma Information [Line Items] | ||||
| Total revenues | $ 421,433 | $ 400,738 | $ 1,234,451 | $ 1,138,466 |
| Income before income taxes | 112,687 | 109,069 | 318,806 | 320,089 |
| Net income | $ 68,332 | $ 65,985 | $ 193,103 | $ 193,404 |
| Net income per share: | ||||
| Basic | $ 0.47 | $ 0.45 | $ 1.33 | $ 1.34 |
| Diluted | $ 0.47 | $ 0.45 | $ 1.32 | $ 1.32 |
| Weighted average number of shares outstanding: | ||||
| Basic | 140,915 | 141,139 | 141,253 | 140,925 |
| Diluted | 142,964 | 142,789 | 143,102 | 142,476 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The pro forma income from continuing operations before changes in accounting and extraordinary items, net of tax effect per basic share of common stock for a period as if the business combination or combinations had been completed at the beginning of a period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The pro forma income from continuing operations before changes in accounting and extraordinary items, net of tax effect, per diluted share of common stock for a period as if the business combination or combinations had been completed at the beginning of a period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The pro forma income from continuing operations before changes in accounting and extraordinary items, net of tax effect, for the period as if the business combination or combinations had been completed at the beginning of a period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The pro forma net Income or Loss for the period as if the business combination or combinations had been completed at the beginning of a period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The pro forma revenue for a period as if the business combination or combinations had been completed at the beginning of the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Business Combinations - Additions, Payments, and Net Changes, as well as Interest Expense Accretion on Estimated Acquisition Earn-Out Payables (Detail) (USD $)
|
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
|
Sep. 30, 2014
|
Sep. 30, 2013
|
Sep. 30, 2014
|
Sep. 30, 2013
|
|
| Business Combinations [Abstract] | ||||
| Beginning balance | $ 52,696,000 | $ 48,918,000 | $ 43,058,000 | $ 52,987,000 |
| Additions to estimated acquisition earn-out payables | (221,000) | 955,000 | 14,586,000 | 2,787,000 |
| Payments for estimated acquisition earn-out payables | (463,000) | (2,518,000) | (11,892,000) | (10,597,000) |
| Subtotal | 52,012,000 | 47,355,000 | 45,752,000 | 45,177,000 |
| Change in fair value on estimated acquisition earn-out payables | (247,000) | (1,146,000) | 4,981,000 | 10,000 |
| Interest expense accretion | 561,000 | 481,000 | 1,593,000 | 1,503,000 |
| Net change in earnings from estimated acquisition earn-out payables | 314,000 | (665,000) | 6,574,000 | 1,513,000 |
| Ending balance | $ 52,326,000 | $ 46,690,000 | $ 52,326,000 | $ 46,690,000 |
| X | ||||||||||
|
- Definition
Additions to estimated acquisition earn out payables. No definition available.
|
| X | ||||||||||
|
- Definition
Business Acquisition Earn Out Payable After Change In Additions And Payments No definition available.
|
| X | ||||||||||
|
- Definition
Business acquisition earn out payables. No definition available.
|
| X | ||||||||||
|
- Definition
Change In Estimated Acquisition Earn Out Payable No definition available.
|
| X | ||||||||||
|
- Definition
Change In Fair Value Estimated Acquisition Earn Out Payables. No definition available.
|
| X | ||||||||||
|
- Definition
Payments for estimated acquisition earn out payables. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of accretion expense recognized during the period that is associated with an asset retirement obligation. Accretion expense measures and incorporates changes due to the passage of time into the carrying amount of the liability. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Goodwill - Changes in Carrying Value of Goodwill by Operating Segment (Detail) (USD $)
In Thousands, unless otherwise specified |
9 Months Ended |
|---|---|
|
Sep. 30, 2014
|
|
| Goodwill [Line Items] | |
| Beginning balance | $ 2,006,173 |
| Goodwill of acquired businesses | 506,335 |
| Ending balance | 2,512,508 |
|
Retail [Member]
|
|
| Goodwill [Line Items] | |
| Beginning balance | 1,131,257 |
| Goodwill of acquired businesses | 71,449 |
| Ending balance | 1,202,706 |
|
National Programs [Member]
|
|
| Goodwill [Line Items] | |
| Beginning balance | 467,144 |
| Goodwill of acquired businesses | 427,802 |
| Ending balance | 894,946 |
|
Wholesale Brokerage [Member]
|
|
| Goodwill [Line Items] | |
| Beginning balance | 287,242 |
| Goodwill of acquired businesses | 7,323 |
| Ending balance | 294,565 |
|
Services [Member]
|
|
| Goodwill [Line Items] | |
| Beginning balance | 120,530 |
| Goodwill of acquired businesses | (239) |
| Ending balance | $ 120,291 |
| X | ||||||||||
|
- Definition
Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of increase in asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized resulting from a business combination. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Amortizable Intangible Assets - Amortizable Intangible Assets (Detail) (USD $)
In Thousands, unless otherwise specified |
9 Months Ended | 12 Months Ended |
|---|---|---|
|
Sep. 30, 2014
|
Dec. 31, 2013
|
|
| Finite-Lived Intangible Assets [Line Items] | ||
| Gross Carrying Value | $ 1,395,388 | $ 1,148,834 |
| Accumulated Amortization | (589,689) | (529,946) |
| Net Carrying Value | 805,699 | 618,888 |
|
Purchased customer accounts [Member]
|
||
| Finite-Lived Intangible Assets [Line Items] | ||
| Gross Carrying Value | 1,365,973 | 1,120,719 |
| Accumulated Amortization | (564,053) | (505,137) |
| Net Carrying Value | 801,920 | 615,582 |
| Weighted Average Life (Years) | 15 years | 14 years 10 months 24 days |
|
Non-compete agreements [Member]
|
||
| Finite-Lived Intangible Assets [Line Items] | ||
| Gross Carrying Value | 29,415 | 28,115 |
| Accumulated Amortization | (25,636) | (24,809) |
| Net Carrying Value | $ 3,779 | $ 3,306 |
| Weighted Average Life (Years) | 6 years 9 months 18 days | 7 years |
| X | ||||||||||
|
- Definition
Accumulated amount of amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Useful life of finite-lived intangible assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Amortizable Intangible Assets - Additional Information (Detail) (USD $)
|
Sep. 30, 2014
|
|---|---|
| Goodwill and Intangible Assets Disclosure [Abstract] | |
| Amortization expense estimated, year one (2014) | $ 82,445,000 |
| Amortization expense estimated, year two (2015) | 86,773,000 |
| Amortization expense estimated, year three (2016) | 82,243,000 |
| Amortization expense estimated, year four (2017) | 79,289,000 |
| Amortization expense estimated, year five (2018) | $ 73,888,000 |
| X | ||||||||||
|
- Definition
Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Long-Term Debt - Long-Term Debt Instrument (Detail) (USD $)
In Thousands, unless otherwise specified |
Sep. 30, 2014
|
Apr. 16, 2014
|
Dec. 31, 2013
|
|---|---|---|---|
| Debt Instrument [Line Items] | |||
| Current portion of short-term debt | $ 38,750 | $ 100,000 | |
| Total notes | 623,432 | 150,000 | |
| Total credit agreements | 536,250 | 25,000 | 230,000 |
| Total long-term debt | 1,159,682 | 380,000 | |
| Current portion of short-term debt | 38,750 | 100,000 | |
| Total debt | 1,198,432 | 480,000 | |
|
Current Portion of 5-Year Term Loan Facility Expires 2019 [Member]
|
|||
| Debt Instrument [Line Items] | |||
| Current portion of 5-year term loan facility expires 2019 | 13,750 | ||
|
6.080% Senior Notes, Semi-Annual Interest Payments, Balloon Due 2014 [Member]
|
|||
| Debt Instrument [Line Items] | |||
| Current portion of senior notes | 100,000 | ||
|
5.370% Senior Notes, Quarterly Interest Payments, Balloon Due 2015 [Member]
|
|||
| Debt Instrument [Line Items] | |||
| Current portion of senior notes | 25,000 | ||
| Total notes | 25,000 | ||
|
5.660% Senior Notes, Semi-Annual Interest Payments, Balloon Due 2016 [Member]
|
|||
| Debt Instrument [Line Items] | |||
| Total notes | 25,000 | 25,000 | |
|
4.500% Senior Notes, Quarterly Interest Payments, Balloon Due 2018 [Member]
|
|||
| Debt Instrument [Line Items] | |||
| Total notes | 100,000 | 100,000 | |
|
4.200% Senior Notes, Semi-Annual Interest Payments, Balloon Due 2024 [Member]
|
|||
| Debt Instrument [Line Items] | |||
| Total notes | 498,432 | ||
|
Periodic Payments of Interest, LIBOR Plus 1.00%, Expires December 31, 2016 [Member]
|
|||
| Debt Instrument [Line Items] | |||
| Total credit agreements | 100,000 | ||
|
Quarterly Payments of Interest, LIBOR Plus 1.00%, Expires December 31, 2016 [Member]
|
|||
| Debt Instrument [Line Items] | |||
| Total credit agreements | 100,000 | ||
|
Periodic Payments of Interest, LIBOR Plus 1.00%, Expires December 31, 2016 [Member]
|
|||
| Debt Instrument [Line Items] | |||
| Total credit agreements | 30,000 | ||
|
5-Year Term-Loan Facility, Periodic Interest and Principal Payments, Currently LIBOR Plus 1.375%, Expires May 20, 2019
|
|||
| Debt Instrument [Line Items] | |||
| Total credit agreements | 536,250 | ||
|
5-Year Revolving-Loan Facility, Periodic Interest Payments, Currently LIBOR Plus 1.175%, Plus Commitment Fees of 0.20%, Expires May 20, 2019 [Member]
|
|||
| Debt Instrument [Line Items] | |||
| Total credit agreements | |||
|
Revolving Credit Loan, Quarterly Interest Payments, LIBOR Plus up to 1.40% and Availability Fee up to 0.25%, Expires December 31, 2016 [Member]
|
|||
| Debt Instrument [Line Items] | |||
| Total credit agreements |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The carrying value as of the balance sheet date of the current portion of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt, after unamortized discount or premium, scheduled to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, excluding amounts to be repaid within one year or the normal operating cycle, if longer (current maturities). Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Including the current and noncurrent portions, carrying value as of the balance sheet date of Notes with the highest claim on the assets of the issuer in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle if longer). Senior note holders are paid off in full before any payments are made to junior note holders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date of the portion of long-term notes having the highest claim on the assets of the issuer in case of bankruptcy or liquidation, due within one year or the normal operating cycle, if longer. Senior note holders are paid off in full before any payments are made to debt holders having a lesser priority of repayment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Long-Term Debt - Long-Term Debt Instrument (Parenthetical) (Detail)
|
9 Months Ended | 12 Months Ended |
|---|---|---|
|
Sep. 30, 2014
|
Dec. 31, 2013
|
|
| Debt Instrument [Line Items] | ||
| Line of credit facility, commitment fee percentage | 0.20% | |
|
Current Portion of 5-Year Term Loan Facility Expires 2019 [Member]
|
||
| Debt Instrument [Line Items] | ||
| Line of credit facility, expiration period | 5 years | |
| Debt instrument maturity year | 2019 | |
|
6.080% Senior Notes, Semi-Annual Interest Payments, Balloon Due 2014 [Member]
|
||
| Debt Instrument [Line Items] | ||
| Debt instrument, interest rate, stated percentage | 6.08% | |
| Debt instrument maturity year | 2014 | |
|
5.370% Senior Notes, Quarterly Interest Payments, Balloon Due 2015 [Member]
|
||
| Debt Instrument [Line Items] | ||
| Debt instrument, interest rate, stated percentage | 5.37% | 5.37% |
| Debt instrument maturity year | 2015 | 2015 |
|
5.660% Senior Notes, Semi-Annual Interest Payments, Balloon Due 2016 [Member]
|
||
| Debt Instrument [Line Items] | ||
| Debt instrument, interest rate, stated percentage | 5.66% | 5.66% |
| Debt instrument maturity year | 2016 | 2016 |
|
4.500% Senior Notes, Quarterly Interest Payments, Balloon Due 2018 [Member]
|
||
| Debt Instrument [Line Items] | ||
| Debt instrument, interest rate, stated percentage | 4.50% | 4.50% |
| Debt instrument maturity year | 2018 | 2018 |
|
4.200% Senior Notes, Semi-Annual Interest Payments, Balloon Due 2024 [Member]
|
||
| Debt Instrument [Line Items] | ||
| Debt instrument, interest rate, stated percentage | 4.20% | |
| Debt instrument maturity year | 2024 | |
|
Periodic Payments of Interest, LIBOR Plus 1.00%, Expires December 31, 2016 [Member]
|
||
| Debt Instrument [Line Items] | ||
| Line of credit facility, expiration date | Dec. 31, 2016 | |
|
Periodic Payments of Interest, LIBOR Plus 1.00%, Expires December 31, 2016 [Member] | LIBOR [Member]
|
||
| Debt Instrument [Line Items] | ||
| Debt instrument, variable interest rate | 1.00% | |
|
Quarterly Payments of Interest, LIBOR Plus 1.00%, Expires December 31, 2016 [Member]
|
||
| Debt Instrument [Line Items] | ||
| Line of credit facility, expiration date | Dec. 31, 2016 | |
|
Quarterly Payments of Interest, LIBOR Plus 1.00%, Expires December 31, 2016 [Member] | LIBOR [Member]
|
||
| Debt Instrument [Line Items] | ||
| Debt instrument, variable interest rate | 1.00% | |
|
Periodic Payments of Interest, LIBOR Plus 1.00%, Expires December 31, 2016 [Member]
|
||
| Debt Instrument [Line Items] | ||
| Line of credit facility, expiration date | Dec. 31, 2016 | |
|
Periodic Payments of Interest, LIBOR Plus 1.00%, Expires December 31, 2016 [Member] | LIBOR [Member]
|
||
| Debt Instrument [Line Items] | ||
| Debt instrument, variable interest rate | 1.00% | |
|
5-Year Term-Loan Facility, Periodic Interest and Principal Payments, Currently LIBOR Plus 1.375%, Expires May 20, 2019
|
||
| Debt Instrument [Line Items] | ||
| Line of credit facility, expiration period | 5 years | |
| Line of credit facility, expiration date | May 20, 2019 | |
|
5-Year Term-Loan Facility, Periodic Interest and Principal Payments, Currently LIBOR Plus 1.375%, Expires May 20, 2019 | LIBOR [Member]
|
||
| Debt Instrument [Line Items] | ||
| Debt instrument, variable interest rate | 1.375% | |
|
5-Year Revolving-Loan Facility, Periodic Interest Payments, Currently LIBOR Plus 1.175%, Plus Commitment Fees of 0.20%, Expires May 20, 2019 [Member]
|
||
| Debt Instrument [Line Items] | ||
| Line of credit facility, expiration period | 5 years | 5 years |
| Line of credit facility, commitment fee percentage | 0.20% | 0.20% |
| Line of credit facility, expiration date | May 20, 2019 | |
|
5-Year Revolving-Loan Facility, Periodic Interest Payments, Currently LIBOR Plus 1.175%, Plus Commitment Fees of 0.20%, Expires May 20, 2019 [Member] | LIBOR [Member]
|
||
| Debt Instrument [Line Items] | ||
| Debt instrument, variable interest rate | 1.175% | 1.175% |
|
Revolving Credit Loan, Quarterly Interest Payments, LIBOR Plus up to 1.40% and Availability Fee up to 0.25%, Expires December 31, 2016 [Member]
|
||
| Debt Instrument [Line Items] | ||
| Line of credit facility, expiration date | Dec. 31, 2016 | Dec. 31, 2016 |
|
Maximum [Member] | Revolving Credit Loan, Quarterly Interest Payments, LIBOR Plus up to 1.40% and Availability Fee up to 0.25%, Expires December 31, 2016 [Member]
|
||
| Debt Instrument [Line Items] | ||
| Line of credit facility, commitment fee percentage | 0.25% | 0.25% |
|
Maximum [Member] | Revolving Credit Loan, Quarterly Interest Payments, LIBOR Plus up to 1.40% and Availability Fee up to 0.25%, Expires December 31, 2016 [Member] | LIBOR [Member]
|
||
| Debt Instrument [Line Items] | ||
| Debt instrument, variable interest rate | 1.40% | 1.40% |
| X | ||||||||||
|
- Definition
Debt Instruments Maturity Year No definition available.
|
| X | ||||||||||
|
- Definition
Percentage points added to the reference rate to compute the variable rate on the debt instrument. No definition available.
|
| X | ||||||||||
|
- Definition
Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Date the credit facility terminates, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Period remaining on line of credit facility before it terminates, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
| X | ||||||||||
|
- Definition
The fee, expressed as a percentage of the line of credit facility, for available but unused credit capacity under the credit facility. No definition available.
|
|
Long-Term Debt - Additional Information (Detail) (USD $)
|
0 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | ||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jan. 09, 2012
|
Sep. 30, 2014
|
Sep. 30, 2013
|
Apr. 17, 2014
|
Apr. 16, 2014
|
Dec. 31, 2013
|
May 20, 2014
Agreement [Member]
|
Sep. 30, 2014
Credit Agreement [Member]
|
Apr. 17, 2014
Credit Agreement [Member]
|
Sep. 30, 2014
Unsecured Senior Notes [Member]
|
Jan. 09, 2012
Sun Trust Term Loan [Member]
|
Jan. 09, 2012
Sun Trust Revolver [Member]
|
Sep. 30, 2014
JPM Term Loan [Member]
|
Sep. 30, 2014
Wells Fargo Revolver [Member]
|
Dec. 31, 2013
Wells Fargo Revolver [Member]
|
Jun. 30, 2013
Wells Fargo Revolver [Member]
Beecher Acquisition [Member]
|
Sep. 30, 2014
Bank Of America Loan Term Loan [Member]
|
Jun. 30, 2013
Bank Of America Loan Term Loan [Member]
Beecher Acquisition [Member]
|
Sep. 30, 2014
Private Placement [Member]
Series B [Member]
|
Sep. 30, 2014
Private Placement [Member]
Series A [Member]
|
Sep. 30, 2014
Private Placement [Member]
Senior Notes[Member]
|
Sep. 30, 2014
Line of Credit [Member]
Wells Fargo Revolver [Member]
|
Sep. 30, 2014
Line of Credit [Member]
Bank Of America Loan Term Loan [Member]
|
Sep. 30, 2014
Term Loan [Member]
|
May 20, 2014
Term Loan [Member]
|
Sep. 30, 2014
Revolving Credit Facility [Member]
|
May 20, 2014
Revolving Credit Facility [Member]
|
Sep. 30, 2014
Revolving Loans [Member]
|
Sep. 30, 2014
New Master Agreement [Member]
|
Sep. 30, 2014
LIBOR [Member]
|
|
| Debt Instrument [Line Items] | ||||||||||||||||||||||||||||||
| Unsecured senior notes outstanding | $ 100,000,000 | $ 100,000,000 | $ 200,000,000 | $ 0 | ||||||||||||||||||||||||||
| Debt instrument, issuance date | Jul. 15, 2004 | Sep. 15, 2004 | ||||||||||||||||||||||||||||
| Debt instrument interest rate stated percentage | 4.20% | 6.08% | 5.57% | |||||||||||||||||||||||||||
| Debt instrument, maturity date | Dec. 31, 2016 | Dec. 31, 2016 | Jul. 15, 2014 | Sep. 15, 2011 | ||||||||||||||||||||||||||
| Notes redeemed on maturity date | 100,000,000 | |||||||||||||||||||||||||||||
| Revolving and term loan | 50,000,000 | 100,000,000 | 50,000,000 | 100,000,000 | ||||||||||||||||||||||||||
| Credit facility, outstanding amount | 536,250,000 | 25,000,000 | 230,000,000 | 550,000,000 | 50,000,000 | 550,000,000 | 475,000,000 | 375,000,000 | ||||||||||||||||||||||
| Revolving and term loan | 30,000,000 | 30,000,000 | ||||||||||||||||||||||||||||
| Potential increased in line of credit facility | 500,000,000 | 100,000,000 | ||||||||||||||||||||||||||||
| Letter of credit usage fee, minimum | 1.00% | |||||||||||||||||||||||||||||
| Letter of credit usage fee, maximum | 1.40% | |||||||||||||||||||||||||||||
| LIBOR below base rate | 1.00% | |||||||||||||||||||||||||||||
| Availability fees, minimum | 0.175% | |||||||||||||||||||||||||||||
| Availability fees, maximum | 0.25% | |||||||||||||||||||||||||||||
| Interest rate, minimum | 1.00% | |||||||||||||||||||||||||||||
| Interest rate, maximum | 1.40% | |||||||||||||||||||||||||||||
| Borrowings outstanding | 0 | 0 | ||||||||||||||||||||||||||||
| 30-day Adjusted LIBOR Rate | 0.19% | |||||||||||||||||||||||||||||
| Unsecured revolving credit facility | 800,000,000 | 1,350,000,000 | ||||||||||||||||||||||||||||
| Unsecured term loans | 550,000,000 | |||||||||||||||||||||||||||||
| Term Loan Agreement | 475,000,000 | 31,863,000 | 230,000,000 | |||||||||||||||||||||||||||
| Line of credit facility interest rate above adjusted LIBOR rate | 1.375% | 1.175% | ||||||||||||||||||||||||||||
| Letter of credit fees | 0.20% | |||||||||||||||||||||||||||||
| Proceeds from lines of credit | 475,000,000 | 31,863,000 | 0 | |||||||||||||||||||||||||||
| Debt instrument, face amount | $ 500,000,000 | |||||||||||||||||||||||||||||
| Debt instrument maturity year | 2024 | |||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
Adjusted LIBOR rate No definition available.
|
| X | ||||||||||
|
- Definition
Debt instrument, revolving and term loan No definition available.
|
| X | ||||||||||
|
- Definition
Debt Instruments Maturity Year No definition available.
|
| X | ||||||||||
|
- Definition
Fees On Loans Maximum No definition available.
|
| X | ||||||||||
|
- Definition
Fees On Loans Minimum No definition available.
|
| X | ||||||||||
|
- Definition
Letter Of Credit Usage Fee Maximum No definition available.
|
| X | ||||||||||
|
- Definition
Letter Of Credit Usage Fee Minimum No definition available.
|
| X | ||||||||||
|
- Definition
LIBOR Rate Below Base Rate No definition available.
|
| X | ||||||||||
|
- Definition
Line Of Credit Facility Interest Rate Above LIBOR No definition available.
|
| X | ||||||||||
|
- Definition
Unsecured Revolving Credit Facility No definition available.
|
| X | ||||||||||
|
- Definition
Face (par) amount of debt instrument at time of issuance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Maximum contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Minimum contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Date the debt instrument was issued, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of borrowing capacity currently available under the credit facility (current borrowing capacity less the amount of borrowings outstanding). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The fee, expressed as a percentage of the line of credit facility, for available but unused credit capacity under the credit facility. No definition available.
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date of loans from a bank with maturities initially due after one year or beyond the operating cycle if longer, excluding current portion. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of cash inflow from contractual arrangement with the lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of cash outflow for payment of an obligation from a lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow to repay long-term debt that is not secured by collateral. Excludes repayments of tax exempt unsecured debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Including the current and noncurrent portions, carrying value as of the balance sheet date of uncollateralized debt obligations (with maturities initially due after one year or beyond the operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date of uncollateralized debt obligation (with maturities initially due after one year or beyond the operating cycle if longer), excluding current portion. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Supplemental Disclosures of Cash Flow Information and Non-Cash Financing and Investing Activities - Significant Non-Cash Investing and Financing Activities (Detail) (USD $)
In Thousands, unless otherwise specified |
9 Months Ended | |
|---|---|---|
|
Sep. 30, 2014
|
Sep. 30, 2013
|
|
| Supplemental Cash Flow Elements [Abstract] | ||
| Interest | $ 19,940 | $ 13,223 |
| Income taxes | 92,018 | 81,156 |
| Other payable issued for purchased customer accounts | 1,623 | 503 |
| Estimated acquisition earn-out payables and related charges | 12,937 | 2,064 |
| Notes received on the sale of fixed assets and customer accounts | $ 296 | $ 1,107 |
| X | ||||||||||
|
- Definition
Notes Receivable on the Sale of Fixed Assets and Customer Accounts No definition available.
|
| X | ||||||||||
|
- Definition
Obligations of a business that arise from the acquisition of merchandise, materials, supplies and services used in the production and/or sale of goods and services not classified as Trade Payables. No definition available.
|
| X | ||||||||||
|
- Definition
Recorded Earn-out Payable No definition available.
|
| X | ||||||||||
|
- Definition
The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of cash paid for interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Segment Information - Additional Information (Detail) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 9 Months Ended | 12 Months Ended | ||
|---|---|---|---|---|---|
|
Sep. 30, 2014
|
Sep. 30, 2013
|
Sep. 30, 2014
|
Sep. 30, 2013
|
Dec. 31, 2013
|
|
| Segment Reporting Information [Line Items] | |||||
| Number of reportable segments | 4 | ||||
| Total revenues | $ 421,418 | $ 359,310 | $ 1,182,776 | $ 1,020,114 | |
|
London, Bermuda and Cayman Islands [Member]
|
|||||
| Segment Reporting Information [Line Items] | |||||
| Total revenues | $ 3,200 | $ 2,300 | $ 10,200 | $ 8,200 | $ 12,200 |
| X | ||||||||||
|
- Definition
Number of segments reported by the entity. A reportable segment is a component of an entity for which there is an accounting requirement to report separate financial information on that component in the entity's financial statements. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Segment Information - Summarized Financial Information Reportable Segments (Detail) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 9 Months Ended | |||
|---|---|---|---|---|---|
|
Sep. 30, 2014
|
Sep. 30, 2013
|
Sep. 30, 2014
|
Sep. 30, 2013
|
Dec. 31, 2013
|
|
| Segment Reporting Information [Line Items] | |||||
| Total revenues | $ 421,418 | $ 359,310 | $ 1,182,776 | $ 1,020,114 | |
| Investment income | 225 | 85 | 522 | 510 | |
| Amortization | 21,983 | 17,858 | 60,482 | 50,140 | |
| Depreciation | 5,456 | 4,466 | 15,338 | 12,896 | |
| Interest expense | 7,298 | 4,135 | 18,374 | 12,116 | |
| Income before income taxes | 112,685 | 95,455 | 301,303 | 281,167 | |
| Total assets | 4,945,748 | 3,554,788 | 4,945,748 | 3,554,788 | 3,649,508 |
| Capital expenditures | 7,612 | 4,330 | 20,189 | 11,453 | |
|
Operating Segments [Member] | Retail [Member]
|
|||||
| Segment Reporting Information [Line Items] | |||||
| Total revenues | 202,708 | 192,845 | 616,375 | 539,232 | |
| Investment income | 16 | 19 | 48 | 65 | |
| Amortization | 10,732 | 10,258 | 31,340 | 27,858 | |
| Depreciation | 1,621 | 1,536 | 4,819 | 4,278 | |
| Interest expense | 10,675 | 11,127 | 32,612 | 22,976 | |
| Income before income taxes | 40,234 | 37,441 | 130,577 | 128,134 | |
| Total assets | 3,124,487 | 2,918,824 | 3,124,487 | 2,918,824 | |
| Capital expenditures | 1,330 | 1,696 | 5,009 | 4,519 | |
|
Operating Segments [Member] | National Programs [Member]
|
|||||
| Segment Reporting Information [Line Items] | |||||
| Total revenues | 116,512 | 77,816 | 281,557 | 215,110 | |
| Investment income | 48 | 4 | 119 | 14 | |
| Amortization | 7,253 | 3,781 | 17,242 | 10,811 | |
| Depreciation | 2,116 | 1,384 | 5,425 | 3,958 | |
| Interest expense | 15,915 | 6,245 | 33,803 | 17,529 | |
| Income before income taxes | 20,913 | 17,450 | 46,721 | 42,688 | |
| Total assets | 2,477,731 | 1,350,689 | 2,477,731 | 1,350,689 | |
| Capital expenditures | 5,179 | 1,349 | 12,036 | 3,661 | |
|
Operating Segments [Member] | Wholesale Brokerage [Member]
|
|||||
| Segment Reporting Information [Line Items] | |||||
| Total revenues | 66,762 | 59,324 | 181,841 | 162,844 | |
| Investment income | 9 | 7 | 20 | 16 | |
| Amortization | 2,955 | 2,884 | 8,770 | 8,668 | |
| Depreciation | 679 | 684 | 1,999 | 2,107 | |
| Interest expense | 505 | 642 | 1,447 | 2,120 | |
| Income before income taxes | 22,745 | 20,152 | 52,859 | 46,274 | |
| Total assets | 965,555 | 915,515 | 965,555 | 915,515 | |
| Capital expenditures | 546 | 277 | 1,545 | 1,374 | |
|
Operating Segments [Member] | Services [Member]
|
|||||
| Segment Reporting Information [Line Items] | |||||
| Total revenues | 35,492 | 30,020 | 102,891 | 103,070 | |
| Investment income | 2 | 1 | |||
| Amortization | 1,034 | 925 | 3,101 | 2,774 | |
| Depreciation | 555 | 402 | 1,646 | 1,200 | |
| Interest expense | 1,938 | 1,804 | 5,879 | 5,608 | |
| Income before income taxes | 4,859 | 5,763 | 12,682 | 22,305 | |
| Total assets | 285,307 | 252,801 | 285,307 | 252,801 | |
| Capital expenditures | 325 | 639 | 860 | 1,137 | |
|
Other [Member]
|
|||||
| Segment Reporting Information [Line Items] | |||||
| Total revenues | (56) | (695) | 112 | (142) | |
| Investment income | 152 | 55 | 333 | 414 | |
| Amortization | 9 | 10 | 29 | 29 | |
| Depreciation | 485 | 460 | 1,449 | 1,353 | |
| Interest expense | (21,735) | (15,683) | (55,367) | (36,117) | |
| Income before income taxes | 23,934 | 14,649 | 58,464 | 41,766 | |
| Total assets | (1,907,332) | (1,883,041) | (1,907,332) | (1,883,041) | |
| Capital expenditures | $ 232 | $ 369 | $ 739 | $ 762 | |
| X | ||||||||||
|
- Definition
The aggregate amount of recurring noncash expense charged against earnings in the period to allocate the cost of assets over their estimated remaining economic lives. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of income from investments (for example, dividends) not considered a component of the entity's core operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Investments - Schedule of Investments in Fixed Maturity Securities (Detail) (USD $)
In Thousands, unless otherwise specified |
9 Months Ended |
|---|---|
|
Sep. 30, 2014
|
|
| Schedule of Available-for-sale Securities [Line Items] | |
| Cost | $ 19,958 |
| Gross Unrealized Gains | 47 |
| Gross Unrealized Losses | (15) |
| Fair Value | 19,989 |
|
U.S. Treasury Securities, Obligations of U.S. Government Agencies and Municipals [Member]
|
|
| Schedule of Available-for-sale Securities [Line Items] | |
| Cost | 10,588 |
| Gross Unrealized Gains | 4 |
| Gross Unrealized Losses | (4) |
| Fair Value | 10,588 |
|
Foreign Government [Member]
|
|
| Schedule of Available-for-sale Securities [Line Items] | |
| Cost | 50 |
| Fair Value | 50 |
|
Corporate Debt [Member]
|
|
| Schedule of Available-for-sale Securities [Line Items] | |
| Cost | 5,583 |
| Gross Unrealized Gains | 5 |
| Gross Unrealized Losses | (11) |
| Fair Value | 5,576 |
|
Short Duration Fixed Income Fund [Member]
|
|
| Schedule of Available-for-sale Securities [Line Items] | |
| Cost | 3,737 |
| Gross Unrealized Gains | 38 |
| Fair Value | $ 3,775 |
| X | ||||||||||
|
- Definition
This item represents the cost of debt securities, which are categorized neither as held-to-maturity nor trading, net of adjustments including accretion, amortization, collection of cash, previous other-than-temporary impairments recognized in earnings (less any cumulative-effect adjustments recognized, as defined), and fair value hedge accounting adjustments, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of investment in debt and equity securities categorized neither as held-to-maturity nor trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of unrealized gain before deducting unrealized loss on investments in debt and equity securities classified as available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of unrealized loss before deducting unrealized gain on investments in available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Investments - Summary of Unrealized Loss Position (Detail) (USD $)
In Thousands, unless otherwise specified |
Sep. 30, 2014
|
|---|---|
| Schedule of Available-for-sale Securities [Line Items] | |
| Fair Value, Less than 12 Months | $ 7,658 |
| Unrealized Losses, Less than 12 Months | 15 |
| Fair Value, 12 Months or More | |
| Unrealized Losses, 12 Months or More | |
| Fair Value | 7,658 |
| Unrealized Losses | 15 |
|
U.S. Treasury Securities, Obligations of U.S. Government Agencies and Municipals [Member]
|
|
| Schedule of Available-for-sale Securities [Line Items] | |
| Fair Value, Less than 12 Months | 3,168 |
| Unrealized Losses, Less than 12 Months | 4 |
| Fair Value, 12 Months or More | |
| Unrealized Losses, 12 Months or More | |
| Fair Value | 3,168 |
| Unrealized Losses | 4 |
|
Corporate Debt [Member]
|
|
| Schedule of Available-for-sale Securities [Line Items] | |
| Fair Value, Less than 12 Months | 4,490 |
| Unrealized Losses, Less than 12 Months | 11 |
| Fair Value, 12 Months or More | |
| Unrealized Losses, 12 Months or More | |
| Fair Value | 4,490 |
| Unrealized Losses | $ 11 |
| X | ||||||||||
|
- Definition
Amount of accumulated pre-tax unrealized loss on securities classified as available-for-sale that have been in a loss position for twelve months or longer recognized in Accumulated Other Comprehensive Income (AOCI). No definition available.
|
| X | ||||||||||
|
- Definition
Amount of accumulated pre-tax unrealized loss on securities classified as available-for-sale recognized in Accumulated Other Comprehensive Income (AOCI). No definition available.
|
| X | ||||||||||
|
- Definition
Amount of accumulated pre-tax unrealized loss on investments in available-for-sale securities that have been in a loss position for less than twelve months recognized in Accumulated Other Comprehensive Income (AOCI). No definition available.
|
| X | ||||||||||
|
- Definition
This item represents the aggregate fair value of investments in debt and equity securities in an unrealized loss position which are categorized neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
This item represents the aggregate fair value of investments in debt and equity securities categorized neither as held-to-maturity nor trading securities that have been in a continuous unrealized loss position for less than twelve months. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the aggregate fair value of investments in debt and equity securities categorized neither as held-to-maturity nor trading securities that have been in a continuous unrealized loss position for twelve months or longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
|
|
Investments - Additional Information (Detail) (USD $)
|
0 Months Ended | 9 Months Ended |
|---|---|---|
|
May 01, 2014
|
Sep. 30, 2014
Securities
|
|
| Investments, Debt and Equity Securities [Abstract] | ||
| Number of securities in unrealized loss position | 38 | |
| Proceeds from sale of investment in fixed maturity securities | $ 200,000 | |
| Gross realized gains and losses of securities | $ 0 | $ 0 |
| Investment security maturity date, start | May 01, 2014 | |
| Investment security maturity date, End | Sep. 30, 2014 |
| X | ||||||||||
|
- Definition
The latest maturity date when short-term debt instruments are reported on the Schedule of Investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The earliest maturity date when short-term debt instruments are reported on the Schedule of Investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the difference between the gross realized gains and losses realized on the sale of debt or equity securities categorized neither as held-to-maturity nor trading securities. Additionally, this item would include any losses recognized for other than temporary impairments (OTTI) of the subject investments in debt and equity securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of investment positions in available-for-sale investments in a continuous unrealized loss position for which an other-than-temporary impairment (OTTI) has not been recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The cash inflow associated with the sale or maturity (principal being due) of securities not classified as either held-to-maturity securities or trading securities which are classified as available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Investments - Amortized Cost and Fair Value of Fixed Maturity Securities by Contractual Maturity (Detail) (USD $)
In Thousands, unless otherwise specified |
Sep. 30, 2014
|
|---|---|
| Investments, Debt and Equity Securities [Abstract] | |
| Amortized Cost, Due in one year or less | $ 4,316 |
| Amortized Cost, Due after one year through five years | 15,296 |
| Amortized Cost, Due after five years through ten years | 346 |
| Amortized Cost, Total | 19,958 |
| Fair Value, Due in one year or less | 4,354 |
| Fair Value, Due after one year through five years | 15,286 |
| Fair Value, Due after five years through ten years | 349 |
| Fair Value, Total | $ 19,989 |
| X | ||||||||||
|
- Definition
Amount after adjustments of available-for-sale debt securities at cost, maturing in the sixth fiscal year through the tenth fiscal year following the latest fiscal year. Adjustments include, but are not limited to, accretion, amortization, collection of cash, previous other-than-temporary impairments (OTTI) recognized in earnings less cumulative-effect adjustments, and fair value hedge accounting adjustments. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value of available-for-sale debt securities maturing in the sixth fiscal year through the tenth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after adjustments of available-for-sale debt securities at cost, maturing in the second fiscal year through the fifth fiscal year following the latest fiscal year. Adjustments include, but are not limited to, accretion, amortization, collection of cash, previous other-than-temporary impairments (OTTI) recognized in earnings less cumulative-effect adjustments, and fair value hedge accounting adjustments. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value of available-for-sale debt securities maturing in the second fiscal year through the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after adjustments of available-for-sale debt securities at cost, maturing in the next fiscal year following the latest fiscal year. Adjustments include, but are not limited to, accretion, amortization, collection of cash, previous other-than-temporary impairments (OTTI) recognized in earnings less cumulative-effect adjustments, and fair value hedge accounting adjustments. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value of available-for-sale debt securities maturing in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of available-for-sale debt securities at cost, net of adjustments, that do not have a single maturity date and which the entity has decided to disclose separately rather than allocating the cost over several maturity groupings. Adjustments include, but are not limited to, accretion, amortization, collection of cash, previous other-than-temporary impairments (OTTI) recognized in earnings (less any cumulative-effect adjustments, as defined) and fair value hedge accounting adjustments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of available-for-sale debt securities at fair value that do not have a single maturity date and which the entity has decided to disclose separately rather than allocating the fair value over several maturity groupings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Ceded loss adjustment expenses. No definition available.
|
| X | ||||||||||
|
- Definition
Number of reinsurers. No definition available.
|
| X | ||||||||||
|
- Definition
Percentage of ceded premiums. No definition available.
|
| X | ||||||||||
|
- Definition
Percentage of flood premiums ceded. No definition available.
|
| X | ||||||||||
|
- Definition
Percentage Of Reinsurance No definition available.
|
| X | ||||||||||
|
- Definition
Percentage of reinsurance recoverables allowance. No definition available.
|
| X | ||||||||||
|
- Definition
Reinsurance percentage of ceding commission. No definition available.
|
| X | ||||||||||
|
- Definition
Reserve For Losses And Loss Adjustment Expenses For Reinsurance Liability No definition available.
|
| X | ||||||||||
|
- Definition
Amount of written premiums ceded to other entities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Estimated amount after valuation allowance of reinsurance recoverables, due from reinsurers for incurred claims not yet reported, and claims settlement expenses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after valuation allowance recoverable including premium paid under reinsurance contracts. Examples include, but are not limited to, settled and unsettled claims, incurred but not reported losses, loss adjustment expense, premium paid, policy benefits and policy reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after valuation allowance of reinsurance recoverables for losses reported to the ceding insurer but not yet paid, amounts expected of incurred losses and settlement expenses, which have not yet been reported to the ceding insurer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before valuation allowance of reinsurance recoverables for losses reported to the ceding insurer but not yet paid, and for amounts expected based upon statistical projections and other measures of incurred losses and loss settlement expenses which have not yet been reported to the ceding insurer. No definition available.
|
|
Reinsurance and Loss and Loss Adjustment Expenses - Effects of Reinsurance on Premiums Written and Earned (Detail) (USD $)
In Thousands, unless otherwise specified |
9 Months Ended |
|---|---|
|
Sep. 30, 2014
|
|
| Policyholders Account In Life Insurance Business [Abstract] | |
| Written, Direct premiums | $ 315,568 |
| Written, Assumed premiums | 1 |
| Written, Ceded premiums | 315,563 |
| Written, Net premiums | 6 |
| Earned, Direct premiums | 258,489 |
| Earned, Assumed premiums | 157 |
| Earned, Ceded premiums | 258,640 |
| Earned, Net premiums | $ 6 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of earned premiums assumed from other entities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of written premiums assumed from other entities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of earned premiums ceded to other entities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of written premiums ceded to other entities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount, before premiums ceded to other entities and premiums assumed by the entity, of premiums earned. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount, before premiums ceded to other entities and premiums assumed by the entity, of premiums written. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount, after premiums ceded to other entities and premiums assumed by the entity, of premiums earned. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount, after premiums ceded to other entities and premiums assumed by the entity, of premiums written. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Statutory Financial Information - Additional Information (Detail) (WNFIC [Member], USD $)
In Millions, unless otherwise specified |
0 Months Ended | 9 Months Ended |
|---|---|---|
|
May 20, 2014
|
Sep. 30, 2014
|
|
|
WNFIC [Member]
|
||
| Statutory Accounting Practices [Line Items] | ||
| Statutory capital and surplus | $ 9.4 | |
| Statutory net Income | 0.9 | |
| Issuance and payment of extraordinary dividend | $ 7.0 | $ 7.0 |
| X | ||||||||||
|
- Definition
Payments of extraordinary dividends. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of statutory capital and surplus (stockholders' equity) as of the balance sheet date using prescribed or permitted statutory accounting practices (rather than GAAP, if different) of the state or country. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of net income for the period determined using accounting principles prescribed or permitted by insurance regulators. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Subsidiary Dividend Restrictions - Additional Information (Detail) (WNFIC [Member], USD $)
|
0 Months Ended | 9 Months Ended |
|---|---|---|
|
May 20, 2014
|
Sep. 30, 2014
|
|
| Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
| Dividend rate as a percentage of net income | 100.00% | |
| Ordinary dividends payment description | The maximum amount of ordinary dividends that WNFIC can pay to shareholders in a rolling twelve month period is limited to the greater of 10% of statutory adjusted capital and surplus as shown on WNFIC's last annual statement on file with the superintendent or 100% of adjusted net income. | |
| Payment of extraordinary dividends | $ 7,000,000 | $ 7,000,000 |
|
Scenario, Forecast [Member]
|
||
| Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
| Payment of ordinary dividends | $ 0 | |
|
Maximum [Member]
|
||
| Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
| Dividend rate as a percentage of net income | 10.00% |
| X | ||||||||||
|
- Definition
Payments of extraordinary dividends. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Expected dividends to be paid to holders of the underlying shares or financial instruments (expressed as a percentage of the share or instrument's price). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Cash outflow in the form of ordinary dividends to common shareholders, preferred shareholders and noncontrolling interests, generally out of earnings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Disclosure of statutory restrictions on the payment of dividends as prescribed by the National Association of Insurance Commissioners or state regulatory authorities, amounts not available for future dividend payments, and amount of dividends paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Shareholders' Equity - Additional Information (Detail) (USD $)
|
0 Months Ended | ||||||
|---|---|---|---|---|---|---|---|
|
Sep. 30, 2014
|
Mar. 31, 2014
|
Dec. 31, 2013
|
Jul. 21, 2014
Maximum [Member]
|
Sep. 30, 2014
Accelerated Share Repurchase Agreement [Member]
|
Sep. 02, 2014
Accelerated Share Repurchase Agreement [Member]
|
Oct. 08, 2014
Subsequent Event [Member]
Accelerated Share Repurchase Agreement [Member]
|
|
| Equity, Class of Treasury Stock [Line Items] | |||||||
| Shares repurchased, authorized amount | $ 25,000,000 | $ 200,000,000 | |||||
| Shares repurchased, aggregate repurchase amount | 50,000,000 | ||||||
| Shares repurchased, remaining amount | 7,500,000 | ||||||
| Shares repurchased, number of shares received initially | 2,139,000 | 0 | 1,293,760 | ||||
| Fair value of common stock repurchased | $ 67,525,000 | $ 42,500,000 | |||||
| Total number of shares repurchased | 1,539,760 |
| X | ||||||||||
|
- Definition
Amount of cash receipt from (payment to) bank; or stock received from (issuance to) bank in the settlement of the accelerated share repurchase agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of stock repurchase plan authorized. No definition available.
|
| X | ||||||||||
|
- Definition
Amount remaining of a stock repurchase plan authorized. No definition available.
|
| X | ||||||||||
|
- Definition
Number of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of shares that have been repurchased during the period and are being held in treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|