Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2019	May 07, 2019
Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
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		282,042,437

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
REVENUES
Commissions and fees	$ 617,463	$ 500,338
Investment income	1,081	601
Other income, net	736	522
Total revenues	619,280	501,461
EXPENSES
Employee compensation and benefits	332,837	270,899
Other operating expenses	88,783	76,313
(Gain)/loss on disposal	505	(2,420)
Amortization	26,192	20,539
Depreciation	6,035	5,552
Interest	15,198	9,671
Change in estimated acquisition earn-out payables	1,210	2,466
Total expenses	470,760	383,020
Income before income taxes	148,520	118,441
Income taxes	34,624	27,613
Net income	$ 113,896	$ 90,828
Net income per share:
Basic (in dollars per share)	$ 0.41	$ 0.33
Diluted (in dollars per share)	0.40	0.32
Dividends declared per share (in dollars per share)	$ 0.080	$ 0.075

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Current Assets:
Cash and cash equivalents	$ 322,477		$ 438,961	$ 558,248	$ 573,383
Restricted cash and investments	302,410		338,635
Short-term investments	10,518		12,868
Premiums, commissions and fees receivable	847,132		844,815
Reinsurance recoverable	51,356		65,396
Prepaid reinsurance premiums	314,363		337,920
Other current assets	146,492	$ 125,712	128,716
Total current assets	1,994,748		2,167,311
Fixed assets, net	117,364		100,395
Operating Lease, Right-of-Use Asset	174,580	178,304	0
Goodwill	3,513,218		3,432,786
Amortizable intangible assets, net	907,638		898,807
Investments	17,528		17,394
Other assets	81,213		71,975
Total assets	6,806,289	6,863,968	6,688,668	5,615,083
Current Liabilities:
Premiums payable to insurance companies	801,475		857,559
Losses and loss adjustment reserve	51,356		65,212
Unearned premiums	314,363		337,920
Premium deposits and credits due customers	94,426		105,640
Accounts payable	136,467		87,345
Accrued expenses and other liabilities	193,986	293,146	279,310
Current portion of long-term debt	55,000		50,000
Total current liabilities	1,647,073		1,782,986
Long-term debt less unamortized discount and debt issuance costs	1,439,998		1,456,990
Operating Lease, Liability	159,823	$ 161,464	0
Deferred income taxes, net	300,857		315,732
Other liabilities	160,107		132,392
Shareholders’ Equity:
Common stock, par value $0.10 per share; authorized 560,000 shares; issued 286,961 shares and outstanding 276,074 shares at 2018, issued 286,929 shares and outstanding 276,210 shares at 2017 - in thousands. 2017 share amounts restated for the 2-for-1 stock split effective March 28, 2018	29,584		29,338
Additional paid-in capital	621,249		615,180
Treasury stock, at cost at 10,887 shares at 2018 and 10,719 shares at 2017, respectively - in thousands.	(477,572)		(477,572)
Retained earnings	2,925,170		2,833,622
Total shareholders’ equity	3,098,431		3,000,568	$ 2,770,593	$ 2,582,699
Total liabilities and shareholders’ equity	$ 6,806,289		$ 6,688,668

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares	Dec. 31, 2018	Sep. 30, 2018
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized (in shares)	560,000,000	560,000,000
Common stock, shares issued (in shares)	293,379,702	295,844,557
Common stock, shares outstanding (in shares)	279,583,006	282,047,861
Treasury stock shares (in shares)	13,796,696	13,796,696

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash and Cash Equivalents [Line Items]
Repayments of Lines of Credit	$ 350,000	$ 0
Document Period End Date	Mar. 31, 2019
Payments of Debt Issuance Costs	$ (3,698)	0
Cash, Cash Equivalents and Restricted Cash	624,887	826,377
Cash flows from operating activities:
Net income	113,896	90,828
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization	26,192	20,539
Depreciation	6,035	5,552
Non-cash stock-based compensation	12,994	7,295
Change in estimated acquisition earn-out payables	1,210	2,466
Deferred income taxes	(14,875)	(12,093)
Amortization of debt discount	456	407
Accretion (Amortization) of Discounts and Premiums, Investments	(7)	3
Payments On Acquisition Earn Outs In Excess Of Original Estimated Payables	0	(715)
Net gain on sales of investments, fixed assets and customer accounts	799	(2,388)
Changes in operating assets and liabilities, net of effect from acquisitions and divestitures:
Premiums, commissions and fees receivable decrease	(6,484)	7,667
Reinsurance recoverables decrease	14,040	329,771
Prepaid reinsurance premiums decrease	23,557	28,845
Other assets decrease	(29,521)	806
Premiums payable to insurance companies (decrease)	(61,229)	(2,691)
Premium deposits and credits due customers increase	(11,362)	5,910
Losses and loss adjustment reserve (decrease)	(13,856)	(329,874)
Unearned premiums (decrease)	(23,557)	(28,845)
Accounts payable increase	56,436	52,896
Accrued expenses and other liabilities (decrease)	(97,689)	(94,514)
Other liabilities (decrease)	8,321	(2,384)
Net cash provided by operating activities	5,356	79,481
Cash flows from investing activities:
Additions to fixed assets	(23,186)	(9,751)
Payments for businesses acquired, net of cash acquired	(95,081)	(33,576)
Proceeds from sales of fixed assets and customer accounts	32	142
Purchases of investments	(31)	(6,142)
Proceeds from Sale, Maturity and Collection of Investments	2,392	6,531
Net cash used in investing activities	(115,874)	(42,796)
Cash flows from financing activities:
Payments on acquisition earn-outs	(579)	(1,761)
Proceeds from Issuance of Long-term Debt	350,000	0
Payments on long-term debt	(8,750)	(5,000)
Issuances of common stock for employee stock benefit plans	16	720
Repurchase Of Stock Benefit Plan Shares For Employees To Fund Tax Withholdings	(6,832)	(7,659)
Purchase of treasury stock	0	(11,250)
Settlement (prepayment) of accelerated share repurchase program	0	11,250
Cash dividends paid	(22,348)	(20,696)
Net cash used in financing activities	(42,191)	(34,396)
Cash and cash equivalents inclusive of restricted cash at end of period	322,477	558,248
Cash and Cash Equivalents inclusive of Restricted Cash [Member]
Cash flows from financing activities:
Net increase in cash and cash equivalents inclusive of restricted cash	(152,709)	2,289
Cash and cash equivalents inclusive of restricted cash at end of period	$ 624,887	$ 826,377

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY Statement - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]
Common Stock, Shares, Outstanding		286,895
Stockholders' Equity Attributable to Parent	$ 2,582,699	$ 28,689	$ 483,733	$ (386,322)	$ 2,456,599
Net Income (Loss) Attributable to Parent	90,828				90,828
Stock Issued During Period, Shares, Employee Benefit Plan		53
Stock Issued During Period, Value, Employee Benefit Plan	(321)	$ 6	(327)
Treasury Stock, Value, Acquired, Cost Method	$ 0		$ 11,250	(11,250)
Common Stock Issued to Directors Shares		13
Common Stock Issued to Directors	700,000	1,000	699,000
Dividends, Cash	$ (20,696)				(20,696)
Common Stock, Shares, Outstanding		286,961
Stockholders' Equity Attributable to Parent	2,770,593	$ 28,696	$ 495,278	(397,572)	2,644,191
Net Unrealized Holding Gain on Available for Sale Securities	$ (132)		(77)		(55)
Common Stock, Shares, Outstanding	279,583,006	293,380
Common Stock, Shares, Outstanding \| Accounting Standards Update 2014-09 [Member]		286,895
Stockholders' Equity Attributable to Parent	$ 3,000,568	$ 29,338	615,180	(477,572)	2,833,622
Stockholders' Equity Attributable to Parent \| Accounting Standards Update 2014-09 [Member]	2,700,214	$ 28,689	483,733	(386,322)	2,574,114
Cumulative Effect of New Accounting Principle in Period of Adoption \| Accounting Standards Update 2014-09 [Member]					117,515
Net Income (Loss) Attributable to Parent	113,896				113,896
Stock Issued During Period, Shares, Employee Benefit Plan		2,465
Stock Issued During Period, Value, Employee Benefit Plan	6,209	$ 246	5,963
Dividends, Cash	(22,348)				(22,348)
Common Stock, Shares, Outstanding		295,845
Stockholders' Equity Attributable to Parent	3,098,431	$ 29,584	621,249	$ (477,572)	$ 2,925,170
Net Unrealized Holding Gain on Available for Sale Securities	$ 106		$ 106

Nature of Operations	3 Months Ended
Nature of Operations	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	Nature of OperationsBrown & Brown, Inc., a Florida corporation, and its subsidiaries (collectively, “Brown & Brown” or the “Company”) is a diversified insurance agency, wholesale brokerage, insurance programs and service organization that markets and sells insurance products and services, primarily in the property, casualty and employee benefits areas. Brown & Brown’s business is divided into four reportable segments. The Retail Segment provides a broad range of insurance products and services to commercial, public and quasi-public entities, and to professional and individual customers. The National Programs Segment, which acts as a managing general agent (“MGA”), provides professional liability and related package products for certain professionals, a range of insurance products for individuals, flood coverage, and targeted products and services designated for specific industries, trade groups, governmental entities and market niches, all of which are delivered through a nationwide network of independent agents, including Brown & Brown retail agents. The Wholesale Brokerage Segment markets and sells excess and surplus commercial and personal lines insurance, primarily through independent agents and brokers, as well as Brown & Brown retail agents. The Services Segment provides insurance-related services, including third-party claims administration and comprehensive medical utilization management services in both the workers’ compensation and all-lines liability arenas, as well as Medicare Set-aside services, Social Security disability and Medicare benefits advocacy services and claims adjusting services.

Basis of Financial Reporting

3 Months Ended

Mar. 31, 2019

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Basis of Financial Reporting

The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“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 recurring accruals) 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, 2018.

The preparation of these financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, as well as disclosures of contingent assets and liabilities, at the date of the Condensed Consolidated Financial Statements, and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates.

Recently Issued Accounting Pronouncements

In August 2018, the FASB issued ASU 2018-15, “Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract,” which provides guidance for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). ASU 2018-15 will take effect for public companies for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company is currently evaluating the impact of this pronouncement.

In January 2017, the FASB issued ASU No. 2017-04, “Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.” The new guidance eliminates Step 2 of the goodwill impairment test. The updated guidance requires an entity to perform its annual or interim goodwill impairment test by comparing the fair value of the reporting unit to its carrying value, and recognizing a non-cash impairment charge for the amount by which the carrying value exceeds the reporting unit’s fair value with the loss not exceeding the total amount of goodwill allocated to that reporting unit. ASU 2017-04 will take effect for public companies for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019 and will be applied prospectively. The Company is currently evaluating the impact of this guidance on future interim or annual goodwill impairment tests performed.

Recently Adopted Accounting Standards

In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842)” (“Topic 842”), which provides guidance for accounting for leases. Under Topic 842, all leases are required to be recorded on the balance sheet and are classified as either operating leases or finance leases. Effective as of January 1, 2019, the Company adopted Topic 842, and all related amendments, which established Accounting Standards Codification (“ASC”) Topic 842. The Company adopted these standards by the recognition of right-of-use assets and related lease liabilities on the balance sheet. As permitted by Topic 842, the Company elected the transition practical expedient to adopt as of January 1, 2019, the date of initial application under the modified retrospective approach for leases existing at that date, with an adjustment to retained earnings. As a result, the Consolidated Balance Sheet at December 31, 2018 was not restated and continues to be reported under ASC Topic 840 (“Topic 840”) which did not require the recognition of operating lease liabilities on the balance sheet, and thus is not comparative. For the three months ended March 31, 2019, all of the Company's leases are classified as operating leases, which are primarily real estate leases for office space. The expense recognition for operating leases under Topic

842 is substantially consistent with Topic 840, where operating lease charges are recorded entirely in operating expenses. As a result, there is no significant difference in the Company's results of operations presented in the Company's Condensed Consolidated Statements of Income for each period presented.

The adoption of Topic 842 had a significant impact on the Company's balance sheet with the recognition of the operating lease right-of-use asset and the liability for operating leases. Upon adoption, leases that were classified as operating leases under Topic 840 were classified as operating leases under Topic 842. For the adoption of Topic 842, the Company recorded an adjustment of $202.9 million to operating lease right-of-use asset and the related lease liability, with no impact to retained earnings. The lease liability is the present value of the remaining minimum lease payments, determined under Topic 840, discounted using the Company's incremental borrowing rate at the effective date of January 1, 2019. As permitted under Topic 842, the Company elected practical expedient that permit the Company to not reassess whether a contract is or contains a lease, the classification of the Company's existing operating leases, and initial direct costs for any existing leases. The Company did not elect the practical expedient to use hindsight in determining the lease term (when considering lessee options to extend or terminate the lease and to purchase the underlying asset) and in assessing impairment of the Company's right-of-use assets. The application of the practical expedient did not have a significant impact on the measurement of the operating lease liability.

The impact of the adoption of Topic 842 on the balance sheet at January 1, 2019 was (in thousands):



(in thousands)	Balance at December 31, 2018	Adjustments due to Topic 842		Balance at January 1, 2019
Balance Sheet
Assets:
Other current assets	128,716	(3,004	)	125,712
Operating lease assets	—	178,304		178,304
Total Assets	6,688,668	175,300		6,863,968
Liabilities:
Accrued expenses and other liabilities	279,310	13,836		293,146
Operating lease liabilities	—	161,464		161,464
Total Liabilities	3,688,100	175,300		3,863,400

For contracts entered into on or after the January 1, 2019, at the inception of a contract the Company assesses whether the contract is, or contains, a lease. This assessment is based on: (1) whether the contract involves the use of a distinct identified asset, (2) whether the Company obtains the right to substantially all the economic benefit from the use of the asset throughout the period, and (3) whether the Company has the right to direct the use of the asset. Leases entered into prior to January 1, 2019 are accounted for under Topic 840 and were not reassessed. For real estate leases that contain both lease and non-lease components, the Company elected to account the lease components together with non-lease components (e.g., common-area maintenance).

Leases are classified as either finance leases or operating leases. A lease is classified as a finance lease if any one of the following criteria are met: the lease transfers ownership of the asset by the end of the lease term, the lease contains an option to purchase the asset that is reasonably certain to be exercised, or the lease term is for a major part of the remaining useful life of the asset or the present value of the lease payments equals or exceeds substantially all of the fair value of the asset. A lease is classified as an operating lease if it does not meet any one of these criteria. All of the Company's real estate leases for office space do not meet the definition of a finance lease. The Company's policy is to own, rather than lease, equipment.

For leases at the lease commencement date, a right-of-use asset and a lease liability are recognized. The right-of-use asset represents the right to use the leased asset for the lease term. The right-of-use asset is initially measured at cost, which primarily comprises the initial amount of the lease liability, plus any initial direct costs incurred, less any lease incentives received. The lease liability is initially measured at the present value of the lease payments under the lease. For the Company's operating leases, the lease payments are discounted using an incremental borrowing rate, which approximates the rate of interest that would be paid on a secured borrowing in an amount equal to the lease payments for the underlying asset under similar terms.

Lease payments included in the measurement of the lease liability comprise the following: the fixed noncancelable lease payments, payments for optional renewal periods where it is reasonably certain the renewal period will be exercised, and payments for early termination options unless it is reasonably certain the lease will not be terminated early. Some of the Company's real estate leases contain variable lease payments, including payments based on an index or rate. Variable lease payments based on an index or rate are initially measured using the index or rate in effect at lease commencement and based on the minimum amount stated in the lease. Lease components are included in the measurement of the initial lease liability. Additional payments based on the change in an index or rate, or payments based on a change in the Company's portion of the operating expenses, including real estate taxes and insurance, are

recorded as a period expense when incurred. Lease modifications result in remeasurement of the right-of-use assets and the lease liability.

Lease expense for operating leases consists of the lease payments, inclusive of lease incentives, plus any initial direct costs, and is recognized on a straight-line basis over the lease term. Included in lease expense are any variable lease payments incurred in the period that were not included in the initial lease liability.

The Company elected not to recognize right-of-use assets and lease liabilities for short-term leases that have a total term of 12 months or less. The effect of short-term leases on the Company's right-of-use asset and lease liability would not be significant.

- 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.

+ References + Details

Revenues (Notes)

3 Months Ended

Mar. 31, 2019

Disaggregation of Revenue [Line Items]

Disaggregation of Revenue [Table Text Block]

The following tables present the revenues disaggregated by revenue source:



	Three months ended March 31, 2019
(in thousands)	Retail		National Programs		Wholesale Brokerage		Services		Other			Total
Base commissions⁽¹⁾	$	287,200	$	77,178	$	54,173	$	—	$	(12	)	$	418,539
Fees⁽²⁾	43,877		30,246		12,510		49,444		(288		)	135,789
Incentive commissions⁽³⁾	42,775		919		373		—		111			44,178
Profit-sharing contingent commissions⁽⁴⁾	11,547		860		2,915		—		—			15,322
Guaranteed supplemental commissions⁽⁵⁾	3,240		4		391		—		—			3,635
Investment income⁽⁶⁾	—		316		40		48		677			1,081
Other income, net⁽⁷⁾	592		37		107		—		—			736
Total Revenues	$	389,231	$	109,560	$	70,509	$	49,492	$	488		$	619,280

(1)

Base commissions generally represent a percentage of the premium paid by an insured and are affected by fluctuations in both premium rate levels charged by insurance companies and the insureds’ underlying “insurable exposure units,” which are units that insurance companies use to measure or express insurance exposed to risk (such as property values, or sales and payroll levels) to determine what premium to charge the insured. Insurance companies establish these premium rates based upon many factors, including loss experience, risk profile and reinsurance rates paid by such insurance companies, none of which the Company controls.


(2)	Fee revenues relate to fees for services other than securing coverage for the Company's customers and fees negotiated in lieu of commissions.


(3)	Incentive commissions include additional commissions over base commissions received from insurance carriers based on predetermined production levels mutually agreed upon by both parties.


(4)	Profit-sharing contingent commissions are based primarily on underwriting results, but may also reflect considerations for volume, growth and/or retention.


(5)	Guaranteed supplemental commissions represent guaranteed fixed-base agreements in lieu of profit-sharing contingent commissions.


(6)	Investment income consists primarily of interest on cash and investments.


(7)	Other income consists primarily of legal settlements and other miscellaneous income.

Contract Assets and Liabilities

The balances of contract assets and contract liabilities arising from contracts with customers as of March 31, 2019 and December 31, 2018 were as follows:



(in thousands)	March 31, 2019		December 31, 2018
Contract assets	$	311,137	$	265,994
Contract liabilities	$	57,283	$	53,496

Unbilled receivables (contract assets) arise when the Company recognizes revenue for amounts which have not yet been billed in the Company's systems and are reflected in premiums, commissions and fee receivable in the Company's Condensed Consolidated Balance Sheet. Deferred revenue (contract liabilities) relates to payments received in advance of performance under the contract before the transfer of a good or service to the customer. Deferred revenue is reflected within accrued expenses and other liabilities for those to be recognized in less than 12 months and in other liabilities for those to be recognized more than twelve months from the date presented in the Company's Condensed Consolidated Balance Sheet.

As of March 31, 2019, deferred revenue consisted of $39.6 million as current portion to be recognized within one year and $17.7 million in long term to be recognized beyond one year. As of December 31, 2018, deferred revenue consisted of $37.0 million as current portion to be recognized within one year and $16.5 million in long-term deferred revenue to be recognized beyond one year.

During the three months ended March 31, 2019, the amount of revenue recognized related to performance obligations satisfied in a previous period, inclusive of changes due to estimates, was not significant.

Other Assets and Deferred Cost

Incremental cost to obtain - The Company defers certain costs to obtain customer contracts primarily as they relate to commission-based compensation plans in the Retail Segment, in which the Company pays an incremental amount of compensation on new business. These incremental costs are deferred and amortized over a 15-year period. The cost to obtain balance within the other assets caption in the Company's Condensed Consolidated Balance Sheet was $16.3 million and $13.2 million as of March 31, 2019 and December 31, 2018, respectively. For the three months ended March 31, 2019, the Company deferred $3.4 million of incremental cost to obtain customer contracts. The Company expensed $0.3 million of the incremental cost to obtain customer contracts for the three months ended March 31, 2019.

Cost to fulfill - The Company defers certain costs to fulfill contracts and recognizes these costs as the associated performance obligations are fulfilled. The cost to fulfill balance within the other current assets caption in the Company's Condensed Consolidated Balance Sheet was $62.4 million and $69.8 million as of March 31, 2019 and December 31, 2018, respectively. For the three months ended March 31, 2019, the Company had net expense of $7.4 million related to the release of previously deferred contract fulfillment costs associated with performance obligations that were satisfied in the period, net of current year deferrals for costs incurred that related to performance obligations yet to be fulfilled.

Net Income Per Share

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Net Income Per Share

Net Income Per ShareBasic net income per share is computed based on the weighted average number of common shares (including participating securities) issued and outstanding during the period. Diluted net income per share is computed based on the weighted average number of common shares issued and outstanding plus equivalent shares, assuming the exercise of stock options. The dilutive effect of stock options is computed by application of the treasury-stock method. The following is a reconciliation between basic and diluted weighted average shares outstanding:



	For the three months ended March 31,
(in thousands, except per share data)	2019			2018
Net income	$	113,896		$	90,828
Net income attributable to unvested awarded performance stock	(3,201		)	(1,902		)
Net income attributable to common shares	$	110,695		$	88,926
Weighted average number of common shares outstanding – basic	280,564			275,952
Less unvested awarded performance stock included in weighted average number of common shares outstanding – basic	(7,885		)	(5,780		)
Weighted average number of common shares outstanding for basic net income per common share	272,679			270,172
Dilutive effect of stock options	2,335			5,542
Weighted average number of shares outstanding – diluted	275,014			275,714
Net income per share:
Basic	$	0.41		$	0.33
Diluted	$	0.40		$	0.32

Business Combinations

3 Months Ended

Mar. 31, 2019

Business Combinations [Abstract]

Business Combinations

During the three months ended March 31, 2019, Brown & Brown acquired the assets and assumed certain liabilities of seven insurance intermediaries and all of the stock of one insurance intermediary. Additionally, miscellaneous adjustments were recorded to the purchase price allocation of certain prior acquisitions completed within the last 12 months as permitted by Accounting Standards Codification Topic 805 — Business Combinations (“ASC 805”). Such adjustments are presented in the “Other” category within the following two tables. The recorded purchase price for all acquisitions includes 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 Statements 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 three months ended March 31, 2019, adjustments were made within the permitted measurement period that resulted in a decrease in the aggregate purchase price of the affected acquisitions of $6.8 million relating to the assumption of certain liabilities. These measurement period adjustments have been reflected as current period adjustments in the three months ended March 31, 2019 in accordance with the guidance in ASU 2015-16 “Business Combinations.” The measurement period adjustments primarily impacted goodwill, with no effect on earnings or cash in the current period.

Cash paid for acquisitions was $98.3 million in the three-month period ended March 31, 2019. The Company completed eight acquisitions (excluding book of business purchases) in the three-month period ended March 31, 2019. The Company completed two acquisitions (excluding book of business purchases) in the three-month period ended March 31, 2018.

The following table summarizes the purchase price allocations made as of the date of each acquisition for current year acquisitions and adjustments made during the measurement period for prior year acquisitions. During the measurement periods, the Company will adjust assets or liabilities if new information is obtained about facts and circumstances that existed as of the acquisition date that, if known, would have resulted in the recognition of those assets and liabilities as of that date. These adjustments are made in the period in which the amounts are determined and the current period income effect of such adjustments will be calculated as if the adjustments had been completed as of the acquisition date.



(in thousands)
Name	Business segment	Effective date of acquisition	Cash paid		Other payable		Recorded earn-out payable		Net assets acquired		Maximum potential earn- out payable
Smith Insurance Associates, Inc. (Smith)	Retail	February 1, 2019	$	20,129	$	—	$	2,704	$	22,833	$	4,550
Donald P. Pipino Company, LTD (Pipino)	Retail	February 1, 2019	16,420		135		9,821		26,376		12,996
Cossio Insurance Agency (Cossio)	Retail	March 1, 2019	13,990		10		1,710		15,710		2,000
Medval LLC (Medval)	Services	March 1, 2019	29,106		—		1,684		30,790		2,500
Other	Various	Various	18,654		463		2,236		21,353		5,475
Total			$	98,299	$	608	$	18,155	$	117,062	$	27,521

The following table summarizes the estimated fair values of the aggregate assets and liabilities acquired as of the date of each acquisition and adjustments made during the measurement period of the prior year acquisitions.



(in thousands)	Smith			Pipino			Cossio		Medval			Other			Total
Cash	$	—		$	—		$	—	$	3,218		$	—		$	3,218
Other current assets	588			194			—		1,708			(6,835		)	(4,345		)
Fixed assets	40			114			29		50			$	(121	)	$	112
Goodwill	16,031			18,146			11,336		19,008			15,911			80,432
Purchased customer accounts	6,500			11,360			4,324		7,300			6,298			35,782
Non-compete agreements	41			11			21		1			64			138
Other assets	—			—			—		14			302			316
Total assets acquired	23,200			29,825			15,710		31,299			15,619			115,653
Other current liabilities	(367		)	(3,449		)	—		(480		)	5,734			1,438
Other liabilities	—			—			—		(29		)	—			(29		)
Total liabilities assumed	(367		)	(3,449		)	—		(509		)	5,734			1,409
Net assets acquired	$	22,833		$	26,376		$	15,710	$	30,790		$	21,353		$	117,062

The weighted average useful lives for the acquired amortizable intangible assets are as follows: purchased customer accounts, 15 years; and non-compete agreements, 5 years.

Goodwill of $80.4 million, which is net of any opening balance sheet adjustments within the allowable measurement period, was allocated to the Retail, Wholesale Brokerage and Services Segments in the amounts of $55.1 million, $6.1 million and $19.2 million, respectively. Of the total goodwill of $80.4 million, the amount currently deductible for income tax purposes is $62.2 million and the remaining $18.2 million relates to the recorded earn-out payables and will not be deductible until it is earned and paid.

For the acquisitions completed during 2019, the results of operations since the acquisition dates have been combined with those of the Company. The total revenues from the acquisitions completed through March 31, 2019, included in the Condensed Consolidated Statement of Income for the three months ended March 31, 2019, was $4.8 million. The income before income taxes, including the intercompany cost of capital charge, from the acquisitions completed through March 31, 2019, included in the Condensed Consolidated Statement of Income for the three months ended March 31, 2019, was $1.0 million. If the acquisitions had occurred as of the beginning of the respective periods, the Company’s results of operations would be as shown in the following table. These unaudited pro forma results are not necessarily indicative of the actual results of operations that would have occurred had the acquisitions actually been made at the beginning of the respective periods.



(UNAUDITED)	Three months ended March 31,
(in thousands, except per share data)	2019		2018
Total revenues	$	624,219	$	512,730
Income before income taxes	$	149,863	$	121,469
Net income	$	114,926	$	93,150
Net income per share:
Basic	$	0.41	$	0.34
Diluted	$	0.41	$	0.33
Weighted average number of shares outstanding:
Basic	272,679		270,172
Diluted	275,014		275,714

As of March 31, 2019 and 2018, the fair values of the estimated acquisition earn-out payables were re-evaluated and measured at fair value on a recurring basis using unobservable inputs (Level 3) as defined in ASC 820-Fair Value Measurement. The resulting additions, payments, and net changes, as well as the interest expense accretion on the estimated acquisition earn-out payables, for the three months ended March 31, 2019 and 2018, were as follows:



	Three months ended March 31,
(in thousands)	2019			2018
Balance as of the beginning of the period	$	89,924		$	36,175
Additions to estimated acquisition earn-out payables	18,155			4,524
Payments for estimated acquisition earn-out payables	(579		)	(2,565		)
Subtotal	107,500			38,134
Net change in earnings from estimated acquisition earn-out payables:
Change in fair value on estimated acquisition earn-out payables	50			2,062
Interest expense accretion	1,160			404
Net change in earnings from estimated acquisition earn-out payables	1,210			2,466
Balance as of March 31,	$	108,710		$	40,600

Of the $108.7 million estimated acquisition earn-out payables as of March 31, 2019, $25.2 million was recorded as accounts payable and $83.5 million was recorded as other non-current liabilities. As of March 31, 2019, the maximum future acquisition contingency payments related to all acquisitions was $218.2 million, inclusive of the $108.7 million estimated acquisition earn-out payables as of March 31, 2019. Included within the additions to estimated acquisition earn-out payables are any adjustments to opening balance sheet items within the allowable measurement period, which may therefore differ from previously reported amounts.

Goodwill

3 Months Ended

Mar. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Goodwill is subject to at least an annual assessment for impairment by applying a fair value-based test. The Company completed its most recent annual assessment as of November 30, 2018, and identified no impairment as a result of the evaluation.

The changes in the carrying value of goodwill by reportable segment for the three months ended March 31, 2019 are as follows:



(in thousands)	Retail		National Programs		Wholesale Brokerage		Services		Total
Balance as of December 31, 2018	$	2,063,150	$	926,206	$	291,622	$	151,808	$	3,432,786
Goodwill of acquired businesses	55,117		—		6,063		19,252		80,432
Balance as of March 31, 2019	$	2,118,267	$	926,206	$	297,685	$	171,060	$	3,513,218

- Definition

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.

+ References + Details

Amortizable Intangible Assets

3 Months Ended

Mar. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Amortizable Intangible Assets

Amortizable intangible assets at March 31, 2019 and December 31, 2018 consisted of the following:



	March 31, 2019								December 31, 2018
(in thousands)	Gross carrying value		Accumulated amortization			Net carrying value		Weighted average life (years)⁽¹⁾	Gross carrying value		Accumulated amortization			Net carrying value		Weighted average life (years)⁽¹⁾
Purchased customer accounts	$	1,838,732	$	(934,756	)	$	903,976	14.9	$	1,804,404	$	(909,415	)	$	894,989	14.9
Non-compete agreements	33,607		(29,945		)	3,662		4.5	33,469		(29,651		)	3,818		4.5
Total	$	1,872,339	$	(964,701	)	$	907,638		$	1,837,873	$	(939,066	)	$	898,807


(1)	Weighted average life calculated as of the date of acquisition.

Amortization expense for amortizable intangible assets for the years ending December 31, 2019, 2020, 2021, 2022 and 2023 is estimated to be $102.5 million, $95.4 million, $91.8 million, $87.3 million, and $80.3 million, respectively.

Long-Term Debt

3 Months Ended

Mar. 31, 2019

Debt Disclosure [Abstract]

Long-Term Debt

Long-term debt at March 31, 2019 and December 31, 2018 consisted of the following:



(in thousands)	March 31, 2019			December 31, 2018
Current portion of long-term debt:
Current portion of 5-year term loan facility expires 2022	$	40,000		$	35,000
Current portion of 5-year term loan facility expires 2023	15,000			15,000
Total current portion of long-term debt	55,000			50,000
Long-term debt:
Note agreements:
4.200% senior notes, semi-annual interest payments, net of the unamortized discount, balloon due 2024	$	499,140		$	499,101
4.500% senior notes, semi-annual interest payments, net of the unamortized discount, balloon due 2029	349,443			—
Total notes	848,583			499,101
Credit agreements:
5-year term-loan facility, periodic interest and principal payments, LIBOR plus up to 1.750%, expires June 28, 2022	320,000			330,000
5-year revolving-loan facility, periodic interest payments, LIBOR plus up to 1.500%, plus commitment fees up to 0.250%, expires June 28, 2022	—			350,000
5-year term-loan facility, periodic interest and principal payments, LIBOR plus up to 1.750%, expires December 21, 2023	281,250			285,000
Total credit agreements	601,250			965,000
Debt issuance costs (contra)	(9,835		)	(7,111		)
Total long-term debt less unamortized discount and debt issuance costs	1,439,998			1,456,990
Current portion of long-term debt	55,000			50,000
Total debt	$	1,494,998		$	1,506,990

On June 28, 2017, the Company entered into an amended and restated credit agreement (the “Amended and Restated Credit Agreement”) with the lenders named therein, JPMorgan Chase Bank, N.A. as administrative agent and certain other banks as co-syndication agents and co-documentation agents. The Amended and Restated Credit Agreement amended and restated the credit agreement dated April 17, 2014, among such parties (the “Original Credit Agreement”). The Amended and Restated Credit Agreement extends the applicable maturity date of the existing revolving credit facility (the “Revolving Credit Facility”) of $800.0 million to June 28, 2022 and re-evidences unsecured term loans at $400.0 million while also extending the applicable maturity date to June 28, 2022. The quarterly term loan principal amortization schedule was reset. At the time of the execution of the Amended and Restated Credit Agreement, $67.5 million of principal from the original unsecured term loans was repaid using operating cash balances, and the Company added an additional $2.8 million in debt issuance costs related to the Revolving Credit Facility to the Condensed Consolidated Balance Sheet. The Company also expensed to the Condensed Consolidated Statements of Income $0.2 million of debt issuance costs related to the Original Credit Agreement due to certain lenders exiting prior to execution of the Amended and Restated Credit Agreement. The Company also carried forward $1.6 million on the Condensed Consolidated Balance Sheet the remaining unamortized portion of the Original Credit Agreement debt issuance costs, which will be amortized over the term of the Amended and Restated Credit Agreement. On March 31, 2019, the Company made a scheduled principal payment of $5.0 million per the terms of the Amended and Restated Credit Agreement. As of March 31, 2019, there was an outstanding debt balance issued under the term loan of the Amended and Restated Credit Agreement of $360.0 million with no borrowings outstanding against the Revolving Credit Facility. As of December 31, 2018, there was an outstanding debt balance issued under the term loan of the Amended and Restated Credit Agreement of $365.0 million with $350.0 million in borrowings outstanding against the Revolving Credit Facility. The Company had borrowed approximately $600.0 million under its Revolving Credit Facility on November 15, 2018 in connection with the closing of the acquisition of certain assets and assumption of certain liabilities of the Hays Companies. Per the terms of the Amended and Restated Credit Agreement, a scheduled principal payment of $10.0 million was due March 31, 2019.

On September 18, 2014, the Company issued $500.0 million of 4.200% unsecured Senior Notes due in 2024. The Senior Notes were given investment grade ratings of BBB-/Baa3 with a stable outlook. The notes are subject to certain covenant restrictions and regulations which are customary for credit rated obligations. At the time of funding, the proceeds were offered at a discount of the original note amount which also excluded an underwriting fee discount. The net proceeds received from the issuance were used to repay the outstanding balance of $475.0 million on the Revolving Credit Facility and for other general corporate purposes. As of March 31, 2019 and December 31, 2018, there was an outstanding debt balance of $500.0 million exclusive of the associated discount balance.

On December 21, 2018, the Company entered into a term loan credit agreement (the “Term Loan Credit Agreement”) with the lenders named therein, Wells Fargo Bank, National Association, as administrative agent, and certain other banks as co-syndication agents and as joint lead arrangers and joint bookrunners. The Term Loan Credit Agreement provides for an unsecured term loan in the initial amount of $300.0 million, which may, subject to lenders’ discretion, potentially be increased up to an aggregate amount of $450.0 million (the “Term Loan”). The Term Loan is repayable over the five-year term from the effective date of the Term Loan Credit Agreement, which was December 21, 2018. Based on the Company’s net debt leverage ratio or a non-credit enhanced senior unsecured long-term debt rating as determined by Moody’s Investor Service and Standard & Poor’s Rating Service, the rates of interest charged on the term loan are 1.00% to 1.75%, above the adjusted 1-Month LIBOR rate. On December 21, 2018, the Company borrowed $300.0 million under the Term Loan Credit Agreement and used $250.0 million of the proceeds to reduce indebtedness under the Company’s Amended and Restated Credit Agreement, dated June 28, 2017, with the lenders named therein, JPMorgan Chase Bank, N.A., as administrative agent, and certain other banks as co-syndication agents and co-documentation agents (the “Revolving Credit Facility”). As of March 31, 2019, there was an outstanding debt balance issued under the Term Loan of $296.3 million. As of December 31, 2018, there was an outstanding debt balance issued under the Term Loan of $300.0 million. Per the terms of the Term Loan Credit Agreement, a scheduled principal payment of $3.8 million is due June 30, 2019.

On March 11, 2019, the Company completed the issuance of $350.0 million aggregate principal amount of the Company's 4.500% Senior Notes due 2029. The Senior Notes were given investment grade ratings of BBB-/Baa3 with a stable outlook. The notes are subject to certain covenant restrictions, which are customary for credit rated obligations. At the time of funding, the proceeds were offered at a discount of the original note amount, which also excluded an underwriting fee discount. The net proceeds received from the issuance were used to repay a portion of the outstanding balance of $350.0 million on the Revolving Credit Facility, utilized in connection with financing related to the Hays Companies acquisition and for other general corporate purposes. As of March 31, 2019, there was an outstanding debt balance of $350.0 million exclusive of the associated discount balance.

The Amended and Restated Credit Agreement and Term Loan Credit Agreement require the Company to maintain certain financial ratios and comply with certain other covenants. The Company was in compliance with all such covenants as of March 31, 2019 and December 31, 2018.

The 30-day Adjusted LIBOR Rate as of March 31, 2019 was 2.500%.

Supplemental Disclosures of Cash Flow Information and Non-Cash Financing and Investing Activities

3 Months Ended

Mar. 31, 2019

Supplemental Cash Flow Elements [Abstract]

Supplemental Disclosures of Cash Flow Information and Non-Cash Financing and Investing Activities

Brown & Brown's cash paid during the period for interest and income taxes are summarized as follows:



	Three months ended March 31,
(in thousands)	2019		2018
Cash paid during the period for:
Interest	$	20,127	$	14,472
Income taxes	$	3,120	$	3,179

Brown & Brown’s significant non-cash investing and financing activities are summarized as follows:



	Three months ended March 31,
(in thousands)	2019		2018
Other payable issued for purchased customer accounts	$	608	$	1,690
Estimated acquisition earn-out payables and related charges	$	18,155	$	4,524

The Company's restricted cash balance is composed of funds held in separate premium trust accounts as required by state law or, in some cases, by agreement with carrier partners. The following is a reconciliation of cash and cash equivalents inclusive of restricted cash as of March 31, 2019 and 2018.



	Balance as of March 31,
(in thousands)	2019		2018
Table to reconcile cash and cash equivalents inclusive of restricted cash
Cash and cash equivalents	$	322,477	$	558,248
Restricted cash	302,410		268,129
Total cash and cash equivalents inclusive of restricted cash at the end of the period	$	624,887	$	826,377

The following is a reconciliation of cash and cash equivalents inclusive of restricted cash as of December 31, 2018 and 2017.



	Balance as of December 31,
(in thousands)	2018		2017
Table to reconcile cash and cash equivalents inclusive of restricted cash
Cash and cash equivalents	$	438,961	$	573,383
Restricted cash	338,635		250,705
Total cash and cash equivalents inclusive of restricted cash at the end of the period	$	777,596	$	824,088

In the preparation of the Statement of Cash Flows in this Quarterly Report on Form 10-Q, beginning balance sheet balances for 2018 were adjusted to reflect the modified retrospective adoption of Accounting Standards Update No.2014-09, “Revenue from Contracts with Customers” and Accounting Standards Codification Topic 340 - Other Assets and Deferred Cost, thereby reflecting in the Statement of Cash Flows the change in operating assets and liabilities for the period, excluding the initial impact of adoption of these new accounting standards.

Legal and Regulatory Proceedings	3 Months Ended
Legal and Regulatory Proceedings	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Legal and Regulatory Proceedings	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 certain 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. The Company continues to assess certain litigation and claims to determine the amounts, if any, that management believes will be paid as a result of such claims and litigation and, therefore, additional losses may be accrued and paid in the future, which could adversely impact the Company’s operating results, cash flows and overall liquidity. The Company maintains third-party insurance policies to provide coverage for certain legal claims, in an effort to mitigate its overall exposure to unanticipated claims or adverse decisions. However, as (i) one or more of the Company’s insurance carriers could take the position that portions of these claims are not covered by the Company’s insurance, (ii) to the extent that payments are made to resolve claims and lawsuits, applicable insurance policy limits are eroded and (iii) the claims and lawsuits relating to these matters are continuing to develop, it is possible that future results of operations or cash flows for any particular quarterly or annual period could be materially affected by unfavorable resolutions of these matters. Based upon the AM Best Company ratings of these third-party insurers, management does not believe there is a substantial risk of an insurer’s material non-performance related to any current insured claims. On the basis of current information, the availability of insurance and legal advice, in management’s opinion, the Company is not currently involved in any legal proceedings which, individually or in the aggregate, would have a material adverse effect on its financial condition, operations and/or cash flows.

Segment Information

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Segment Information

Brown & Brown’s business is divided into four reportable segments: (1) the Retail Segment, which provides a broad range of insurance products and services to commercial, public and quasi-public entities, and to professional and individual customers, (2) the National Programs Segment, which acts as an MGA, provides professional liability and related package products for certain professionals, a range of insurance products for individuals, flood coverage, and targeted products and services designated for specific industries, trade groups, governmental entities and market niches, all of which are delivered through nationwide networks of independent agents, and Brown & Brown retail agents, (3) the Wholesale Brokerage Segment, which markets and sells excess and surplus commercial and personal lines insurance, primarily through independent agents and brokers, as well as Brown & Brown retail agents, and (4) the Services Segment, which provides insurance-related services, including third-party claims administration and comprehensive medical utilization management services in both the workers’ compensation and all-lines liability arenas, as well as Medicare Set-aside services, Social Security disability and Medicare benefits advocacy services and claims adjusting services.

Brown & Brown conducts all of its operations within the United States of America, except for a wholesale brokerage operation based in London, England, retail operations in Bermuda and the Cayman Islands, and a national programs operation in Canada. These operations earned $3.4 million and $3.3 million of total revenues for the three months ended March 31, 2019 and 2018, respectively. Long-lived assets held outside of the United States as of March 31, 2019 and 2018 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, 2018. The Company evaluates the performance of its segments based upon revenues and income before income taxes. Inter-segment revenues are eliminated.

Summarized financial information concerning the Company’s reportable segments is shown in the following tables. The “Other” column includes any income and expenses not allocated to reportable segments, corporate-related items, including the intercompany interest expense charge to the reporting segment.



	Three months ended March 31, 2019
(in thousands)	Retail		National Programs		Wholesale Brokerage		Services		Other			Total
Total revenues	$	389,231	$	109,560	$	70,509	$	49,492	$	488		$	619,280
Investment income	$	—	$	316	$	40	$	48	$	677		$	1,081
Amortization	$	15,444	$	6,596	$	2,849	$	1,303	$	—		$	26,192
Depreciation	$	1,624	$	1,590	$	404	$	284	$	2,133		$	6,035
Interest expense	$	21,153	$	5,354	$	1,327	$	872	$	(13,508	)	$	15,198
Income before income taxes	$	93,841	$	19,316	$	15,569	$	9,177	$	10,617		$	148,520
Total assets	$	5,773,290	$	2,852,824	$	1,292,406	$	480,108	$	(3,592,339	)	$	6,806,289
Capital expenditures	$	3,136	$	4,568	$	1,189	$	109	$	14,184		$	23,186



	Three months ended March 31, 2018
(in thousands)	Retail		National Programs		Wholesale Brokerage		Services		Other			Total
Total revenues	$	278,402	$	112,475	$	66,148	$	44,066	$	370		$	501,461
Investment income	$	1	$	114	$	—	$	73	$	413		$	601
Amortization	$	10,242	$	6,323	$	2,837	$	1,137	$	—		$	20,539
Depreciation	$	1,237	$	1,387	$	427	$	411	$	2,090		$	5,552
Interest expense	$	6,797	$	7,496	$	1,435	$	594	$	(6,651	)	$	9,671
Income before income taxes	$	70,399	$	20,778	$	11,383	$	8,816	$	7,065		$	118,441
Total assets	$	4,687,456	$	3,009,147	$	1,323,046	$	432,920	$	(3,837,486	)	$	5,615,083
Capital expenditures	$	2,407	$	2,678	$	420	$	285	$	3,961		$	9,751

Investments

3 Months Ended

Mar. 31, 2019

Investments, Debt and Equity Securities [Abstract]

Investments

At March 31, 2019, the Company’s amortized cost and fair values of fixed maturity securities are summarized as follows:



(in thousands)	Cost		Gross unrealized gains		Gross unrealized losses			Fair value
U.S. Treasury securities, obligations of U.S. Government agencies and Municipalities	$	20,241	$	51	$	(134	)	$	20,158
Corporate debt	233		6		—			239
Total	$	20,474	$	57	$	(134	)	$	20,397

At March 31, 2019, the Company held $20.2 million in fixed income securities composed of U.S. Treasury securities, securities issued by U.S. Government agencies and municipalities, and $0.2 million issued by corporations with investment grade ratings. Of that total, $2.9 million is classified as short-term investments on the Condensed Consolidated Balance Sheet as maturities are less than one-year, which also includes $7.6 million that is related to time deposits held with various financial institutions.

For securities in a loss position, the following table shows the investments’ gross unrealized loss and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of March 31, 2019:



	Less than 12 Months				12 Months or More					Total
(in thousands)	Fair value		Unrealized losses		Fair value		Unrealized losses			Fair value		Unrealized losses
U.S. Treasury securities, obligations of U.S. Government agencies and Municipalities	$	—	$	—	$	11,456	$	(134	)	$	11,456	$	(134	)
Total	$	—	$	—	$	11,456	$	(134	)	$	11,456	$	(134	)

The unrealized losses were caused by interest rate increases. At March 31, 2019, the Company had 9 securities in an unrealized loss position. 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 March 31, 2019.

At December 31, 2018, the Company’s amortized cost and fair values of fixed maturity securities are summarized as follows:



(in thousands)	Cost		Gross unrealized gains		Gross unrealized losses			Fair value
U.S. Treasury securities, obligations of U.S. Government agencies and Municipalities	$	21,729	$	7	$	(222	)	$	21,514
Corporate debt	623		—		—			623
Total	$	22,352	$	7	$	(222	)	$	22,137

At December 31, 2018, the Company held $21.5 million in fixed income securities composed of U.S. Treasury securities, securities issued by U.S. Government agencies and municipalities, and $0.6 million issued by corporations with investment grade ratings. Of that total, $4.8 million is classified as short-term investments on the Condensed Consolidated Balance Sheet as maturities are less than one-year, which also includes $8.1 million that is related to time deposits held with various financial institutions.



	Less than 12 Months					12 Months or More					Total
(in thousands)	Fair value		Unrealized losses			Fair value		Unrealized losses			Fair value		Unrealized losses
U.S. Treasury securities, obligations of U.S. Government agencies and Municipalities	$	5,866	$	(6	)	$	12,634	$	(216	)	$	18,500	$	(222	)
Corporate debt	457		—			100		—			557		—
Total	$	6,323	$	(6	)	$	12,734	$	(216	)	$	19,057	$	(222	)

The unrealized losses from corporate issuers were caused by interest rate increases. At December 31, 2018, the Company had 20 securities in an unrealized loss position. 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 December 31, 2018.

The amortized cost and estimated fair value of the fixed maturity securities at March 31, 2019 by contractual maturity are set forth below:



(in thousands)	Amortized cost		Fair value
Years to maturity:
Due in one year or less	$	2,880	$	2,868
Due after one year through five years	17,594		17,529
Due after five years	—		—
Total	$	20,474	$	20,397

The amortized cost and estimated fair value of the fixed maturity securities at December 31, 2018 by contractual maturity are set forth below:



(in thousands)	Amortized cost		Fair value
Years to maturity:
Due in one year or less	$	4,768	$	4,743
Due after one year through five years	17,584		17,394
Due after five years	—		—
Total	$	22,352	$	22,137

The expected maturities in the foregoing table may differ from the contractual maturities because certain borrowers have the right to call or prepay obligations with or without penalty.

Proceeds from the sales and maturity of the Company’s investment in fixed maturity securities were $1.9 million. This along with maturing time deposits yielded total cash proceeds from the sale of investments of $2.4 million in the period of January 1, 2019 to March 31, 2019. These proceeds were used to purchase additional fixed maturity securities and time deposits. The gains and losses realized on those sales for the period from January 1, 2018 to March 31, 2019 were insignificant.

Realized gains and losses are reported on the Condensed Consolidated Statements of Income, with the cost of securities sold determined on a specific identification basis.

At March 31, 2019, investments with a fair value of approximately $4.1 million were on deposit with state insurance departments to satisfy regulatory requirements.

Losses and Loss Adjustment Reserve

3 Months Ended

Mar. 31, 2019

Reinsurance Disclosures [Abstract]

Losses and Loss Adjustment Reserve

Although the reinsurers are liable to the Company for amounts reinsured, our subsidiary, Wright National Flood Insurance Company (“Wright Flood”) 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:



	Period from January 1, 2019 to March 31, 2019
(in thousands)	Written			Earned
Direct premiums	$	133,319		$	156,876
Ceded premiums	(133,317		)	(156,874		)
Net premiums	$	2		$	2

All premiums written by Wright Flood under the National Flood Insurance Program are 100% ceded to the Federal Emergency Management Agency, or FEMA, for which Wright Flood received a 30.0% expense allowance from January 1, 2019 through March 31, 2019. For the period from January 1, 2019 through March 31, 2019, the Company ceded $132.9 million of written premiums.

Effective April 1, 2014, Wright Flood is also a party to a quota share agreement whereby it cedes 100% of its gross excess flood premiums, excluding fees, to Arch Reinsurance Company and receives a 30.5% commission. Wright Flood ceded $0.4 million for the period from January 1, 2019 through March 31, 2019. As of March 31, 2019, no loss data exists on this agreement.

Wright Flood also ceded 100% of the homeowners, private passenger auto liability, and other liability occurrence to Stillwater Insurance Company, formerly known as Fidelity National Insurance Company. This business is in runoff. Therefore, only loss data exists on this business. As of March 31, 2019, no ceded unpaid losses and loss adjustment expenses or incurred but not reported expenses for homeowners, private passenger auto liability and other liability occurrence existed.

As of March 31, 2019 the Condensed Consolidated Balance Sheet contained reinsurance recoverable of $51.4 million and prepaid reinsurance premiums of $314.4 million. There was no net activity in the reserve for losses and loss adjustment expense during the period January 1, 2019 through March 31, 2019, as Wright Flood’s direct premiums written were 100% ceded to two reinsurers. The balance of the reserve for losses and loss adjustment expense, excluding related reinsurance recoverable, as of March 31, 2019 was $51.4 million.

Statutory Financial Information	3 Months Ended
Statutory Financial Information	Mar. 31, 2019
Statutory Accounting Practices [Abstract]
Statutory Financial Information	Statutory Financial DataWright Flood maintains capital in excess of the minimum statutory amount of $7.5 million as required by regulatory authorities. The unaudited statutory capital and surplus of Wright Flood was $20.0 million at March 31, 2019 and $19.4 million as of December 31, 2018. For the period from January 1, 2019 through March 31, 2019, Wright Flood generated statutory net income of $0.2 million. For the period from January 1, 2018 through December 31, 2018, Wright Flood generated statutory net income of $4.5 million.

Subsidiary Dividend Restrictions	3 Months Ended
Subsidiary Dividend Restrictions	Mar. 31, 2019
Dividend Restrictions [Line Items]
Subsidiary Dividend Restrictions	Under the insurance regulations of Texas, where Wright Flood is incorporated, the maximum amount of ordinary dividends that Wright Flood 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 Wright Flood’s last annual statement on file with the superintendent of the Texas Department of Insurance or 100% of adjusted net income. There was no dividend payout in 2018 and the maximum dividend payout that may be made in 2019 without prior approval is $4.5 million.

Shareholders' Equity	3 Months Ended
Shareholders' Equity	Mar. 31, 2019
Equity [Abstract]
Shareholders' Equity	Shareholders’ Equity On December 12, 2018, the Company entered into accelerated share repurchase agreement ("ASR") with an investment bank to purchase an aggregate $100.0 million of the Company’s common stock. As part of the ASR, the Company received an initial share delivery of 2,910,150 shares of the Company’s common stock with a fair market value of $80.0 million. Upon maturity of the program, the Company will receive the remaining balance of $20.0 million at settlement. Under the authorization from the Company’s Board of Directors, shares may be purchased from time to time, at the Company’s discretion and subject to the availability of stock, market conditions, the trading price of the stock, alternative uses for capital, the Company’s financial performance and other potential factors. These purchases may be carried out through open market purchases, block trades, accelerated share repurchase plans of up to $100.0 million each (unless otherwise approved by the Board of Directors), negotiated private transactions or pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. At March 31, 2019, the remaining amount authorized by the Company's Board of Directors for shares repurchases was $147.5 million. On May 1, 2019, the Company's Board of Directors authorized the purchasing of up to an additional $372.5 million of the Company's outstanding common stock. With this authorization, the Company will now have outstanding approval to purchase up to approximately $500.0 million, in the aggregate, of the Company's outstanding common stock, after giving effect to the final settlement of shares in connection with the ASR entered into on December 12, 2018.

Income Taxes (Notes)	3 Months Ended
Income Taxes (Notes)	Mar. 31, 2019
Income Tax Policy [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	Shareholders’ Equity On December 12, 2018, the Company entered into accelerated share repurchase agreement ("ASR") with an investment bank to purchase an aggregate $100.0 million of the Company’s common stock. As part of the ASR, the Company received an initial share delivery of 2,910,150 shares of the Company’s common stock with a fair market value of $80.0 million. Upon maturity of the program, the Company will receive the remaining balance of $20.0 million at settlement. Under the authorization from the Company’s Board of Directors, shares may be purchased from time to time, at the Company’s discretion and subject to the availability of stock, market conditions, the trading price of the stock, alternative uses for capital, the Company’s financial performance and other potential factors. These purchases may be carried out through open market purchases, block trades, accelerated share repurchase plans of up to $100.0 million each (unless otherwise approved by the Board of Directors), negotiated private transactions or pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. At March 31, 2019, the remaining amount authorized by the Company's Board of Directors for shares repurchases was $147.5 million. On May 1, 2019, the Company's Board of Directors authorized the purchasing of up to an additional $372.5 million of the Company's outstanding common stock. With this authorization, the Company will now have outstanding approval to purchase up to approximately $500.0 million, in the aggregate, of the Company's outstanding common stock, after giving effect to the final settlement of shares in connection with the ASR entered into on December 12, 2018.

Leases (Notes)

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Lessee, Operating Leases [Text Block]

NOTE 9· Leases

Substantially all of the Company's operating lease right-of-use assets and operating lease liabilities represent real estate leases for office space used to conduct the Company's business.

The balances and classification of operating lease right-of-use assets and operating lease liabilities within the Condensed Consolidated Balance Sheet is as follows (in thousands):



(in thousands)		March 31, 2019
Balance Sheet
Assets:
Operating lease right-of-use assets	Operating lease assets	$	174,580
Total Assets		174,580
Liabilities:
Current operating lease liabilities	Accrued expenses and other liabilities	39,015
Non-current operating lease liabilities	Operating lease liabilities	159,823
Total Liabilities		$	198,838

The components of lease cost for operating leases for the three months ended March 31, 2019 were (in thousands):



Operating leases:
Lease cost	$	12,088
Variable lease cost	713
Operating lease expense	$	12,801

The weighted average remaining lease term and the weighted average discount rate for operating leases as of March 31, 2019 were:



Weighted-average remaining lease term	5.73
Weighted-average discount rate	3.81

Maturities of the operating lease liabilities by fiscal year at March 31, 2019 for the Company's operating leases are as follows (in thousands):



	Operating Leases
2019 (Remainder)	$	33,577
2020	44,573
2021	36,998
2022	29,940
2023	23,184
Thereafter	55,084
Total undiscounted lease payments	223,356
Less: Imputed interest	24,518
Present value of lease payments	$	198,838

At December 31, 2018, the aggregate future minimum lease payments under all non-cancelable lease agreements were as follows:



	December 31, 2018
2019	$	48,292
2020	43,517
2021	34,836
2022	27,035
2023	19,981
Thereafter	36,349
Total minimum future lease payments	$	210,010

Supplemental cash flow information for operating leases (in thousands):



Cash paid for amounts included in measurement of liabilities
Operating cash flows from operating leases	$	12,311
Right-of-use assets obtained in exchange for new operating liabilities	$	2,439

Nature of Operations (Policies)	3 Months Ended
Nature of Operations (Policies)	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Accounting	The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“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 recurring accruals) 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, 2018.The preparation of these financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, as well as disclosures of contingent assets and liabilities, at the date of the Condensed Consolidated Financial Statements, and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In August 2018, the FASB issued ASU 2018-15, “Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract,” which provides guidance for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). ASU 2018-15 will take effect for public companies for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company is currently evaluating the impact of this pronouncement. In January 2017, the FASB issued ASU No. 2017-04, “Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.” The new guidance eliminates Step 2 of the goodwill impairment test. The updated guidance requires an entity to perform its annual or interim goodwill impairment test by comparing the fair value of the reporting unit to its carrying value, and recognizing a non-cash impairment charge for the amount by which the carrying value exceeds the reporting unit’s fair value with the loss not exceeding the total amount of goodwill allocated to that reporting unit. ASU 2017-04 will take effect for public companies for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019 and will be applied prospectively. The Company is currently evaluating the impact of this guidance on future interim or annual goodwill impairment tests performed.

Basis of Financial Reporting Recently Adopted Accounting Standards (Policies)

3 Months Ended

Mar. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

New Accounting Pronouncements and Changes in Accounting Principles [Text Block]

Recently Adopted Accounting Standards

The impact of the adoption of Topic 842 on the balance sheet at January 1, 2019 was (in thousands):



(in thousands)	Balance at December 31, 2018	Adjustments due to Topic 842		Balance at January 1, 2019
Balance Sheet
Assets:
Other current assets	128,716	(3,004	)	125,712
Operating lease assets	—	178,304		178,304
Total Assets	6,688,668	175,300		6,863,968
Liabilities:
Accrued expenses and other liabilities	279,310	13,836		293,146
Operating lease liabilities	—	161,464		161,464
Total Liabilities	3,688,100	175,300		3,863,400

recorded as a period expense when incurred. Lease modifications result in remeasurement of the right-of-use assets and the lease liability.

Net Income Per Share (Tables)

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Reconciliation between Basic and Diluted Weighted Average Shares Outstanding



	For the three months ended March 31,
(in thousands, except per share data)	2019			2018
Net income	$	113,896		$	90,828
Net income attributable to unvested awarded performance stock	(3,201		)	(1,902		)
Net income attributable to common shares	$	110,695		$	88,926
Weighted average number of common shares outstanding – basic	280,564			275,952
Less unvested awarded performance stock included in weighted average number of common shares outstanding – basic	(7,885		)	(5,780		)
Weighted average number of common shares outstanding for basic net income per common share	272,679			270,172
Dilutive effect of stock options	2,335			5,542
Weighted average number of shares outstanding – diluted	275,014			275,714
Net income per share:
Basic	$	0.41		$	0.33
Diluted	$	0.40		$	0.32

Business Combinations (Tables)

3 Months Ended

Mar. 31, 2019

Business Combinations [Abstract]

Purchase price allocation for current year acquisitions and adjustments made for prior year acquisitions



(in thousands)
Name	Business segment	Effective date of acquisition	Cash paid		Other payable		Recorded earn-out payable		Net assets acquired		Maximum potential earn- out payable
Smith Insurance Associates, Inc. (Smith)	Retail	February 1, 2019	$	20,129	$	—	$	2,704	$	22,833	$	4,550
Donald P. Pipino Company, LTD (Pipino)	Retail	February 1, 2019	16,420		135		9,821		26,376		12,996
Cossio Insurance Agency (Cossio)	Retail	March 1, 2019	13,990		10		1,710		15,710		2,000
Medval LLC (Medval)	Services	March 1, 2019	29,106		—		1,684		30,790		2,500
Other	Various	Various	18,654		463		2,236		21,353		5,475
Total			$	98,299	$	608	$	18,155	$	117,062	$	27,521

Estimated fair values of aggregate assets and liabilities acquired



(in thousands)	Smith			Pipino			Cossio		Medval			Other			Total
Cash	$	—		$	—		$	—	$	3,218		$	—		$	3,218
Other current assets	588			194			—		1,708			(6,835		)	(4,345		)
Fixed assets	40			114			29		50			$	(121	)	$	112
Goodwill	16,031			18,146			11,336		19,008			15,911			80,432
Purchased customer accounts	6,500			11,360			4,324		7,300			6,298			35,782
Non-compete agreements	41			11			21		1			64			138
Other assets	—			—			—		14			302			316
Total assets acquired	23,200			29,825			15,710		31,299			15,619			115,653
Other current liabilities	(367		)	(3,449		)	—		(480		)	5,734			1,438
Other liabilities	—			—			—		(29		)	—			(29		)
Total liabilities assumed	(367		)	(3,449		)	—		(509		)	5,734			1,409
Net assets acquired	$	22,833		$	26,376		$	15,710	$	30,790		$	21,353		$	117,062

Unaudited pro forma results

These unaudited pro forma results are not necessarily indicative of the actual results of operations that would have occurred had the acquisitions actually been made at the beginning of the respective periods.



(UNAUDITED)	Three months ended March 31,
(in thousands, except per share data)	2019		2018
Total revenues	$	624,219	$	512,730
Income before income taxes	$	149,863	$	121,469
Net income	$	114,926	$	93,150
Net income per share:
Basic	$	0.41	$	0.34
Diluted	$	0.41	$	0.33
Weighted average number of shares outstanding:
Basic	272,679		270,172
Diluted	275,014		275,714

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 months ended March 31, 2019 and 2018, were as follows:



	Three months ended March 31,
(in thousands)	2019			2018
Balance as of the beginning of the period	$	89,924		$	36,175
Additions to estimated acquisition earn-out payables	18,155			4,524
Payments for estimated acquisition earn-out payables	(579		)	(2,565		)
Subtotal	107,500			38,134
Net change in earnings from estimated acquisition earn-out payables:
Change in fair value on estimated acquisition earn-out payables	50			2,062
Interest expense accretion	1,160			404
Net change in earnings from estimated acquisition earn-out payables	1,210			2,466
Balance as of March 31,	$	108,710		$	40,600

Goodwill (Tables)

3 Months Ended

Mar. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in Carrying Value of Goodwill by Operating Segment

three months ended March 31, 2019 are as follows:



(in thousands)	Retail		National Programs		Wholesale Brokerage		Services		Total
Balance as of December 31, 2018	$	2,063,150	$	926,206	$	291,622	$	151,808	$	3,432,786
Goodwill of acquired businesses	55,117		—		6,063		19,252		80,432
Balance as of March 31, 2019	$	2,118,267	$	926,206	$	297,685	$	171,060	$	3,513,218

Amortizable Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Amortizable Intangible Assets

Amortizable intangible assets at March 31, 2019 and December 31, 2018 consisted of the following:



	March 31, 2019								December 31, 2018
(in thousands)	Gross carrying value		Accumulated amortization			Net carrying value		Weighted average life (years)⁽¹⁾	Gross carrying value		Accumulated amortization			Net carrying value		Weighted average life (years)⁽¹⁾
Purchased customer accounts	$	1,838,732	$	(934,756	)	$	903,976	14.9	$	1,804,404	$	(909,415	)	$	894,989	14.9
Non-compete agreements	33,607		(29,945		)	3,662		4.5	33,469		(29,651		)	3,818		4.5
Total	$	1,872,339	$	(964,701	)	$	907,638		$	1,837,873	$	(939,066	)	$	898,807

(1)

Weighted average life calculated as of the date of acquisition.

Long-Term Debt (Tables)

3 Months Ended

Mar. 31, 2019

Debt Disclosure [Abstract]

Long-Term Debt Instrument

Long-term debt at March 31, 2019 and December 31, 2018 consisted of the following:



(in thousands)	March 31, 2019			December 31, 2018
Current portion of long-term debt:
Current portion of 5-year term loan facility expires 2022	$	40,000		$	35,000
Current portion of 5-year term loan facility expires 2023	15,000			15,000
Total current portion of long-term debt	55,000			50,000
Long-term debt:
Note agreements:
4.200% senior notes, semi-annual interest payments, net of the unamortized discount, balloon due 2024	$	499,140		$	499,101
4.500% senior notes, semi-annual interest payments, net of the unamortized discount, balloon due 2029	349,443			—
Total notes	848,583			499,101
Credit agreements:
5-year term-loan facility, periodic interest and principal payments, LIBOR plus up to 1.750%, expires June 28, 2022	320,000			330,000
5-year revolving-loan facility, periodic interest payments, LIBOR plus up to 1.500%, plus commitment fees up to 0.250%, expires June 28, 2022	—			350,000
5-year term-loan facility, periodic interest and principal payments, LIBOR plus up to 1.750%, expires December 21, 2023	281,250			285,000
Total credit agreements	601,250			965,000
Debt issuance costs (contra)	(9,835		)	(7,111		)
Total long-term debt less unamortized discount and debt issuance costs	1,439,998			1,456,990
Current portion of long-term debt	55,000			50,000
Total debt	$	1,494,998		$	1,506,990

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=64930739&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21538-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28541-108399

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21521-112644

+ Details

Segment Information (Tables)

3 Months Ended

Mar. 31, 2019

Segment Reporting Information [Line Items]

Segment Information



	Three months ended March 31, 2019
(in thousands)	Retail		National Programs		Wholesale Brokerage		Services		Other			Total
Total revenues	$	389,231	$	109,560	$	70,509	$	49,492	$	488		$	619,280
Investment income	$	—	$	316	$	40	$	48	$	677		$	1,081
Amortization	$	15,444	$	6,596	$	2,849	$	1,303	$	—		$	26,192
Depreciation	$	1,624	$	1,590	$	404	$	284	$	2,133		$	6,035
Interest expense	$	21,153	$	5,354	$	1,327	$	872	$	(13,508	)	$	15,198
Income before income taxes	$	93,841	$	19,316	$	15,569	$	9,177	$	10,617		$	148,520
Total assets	$	5,773,290	$	2,852,824	$	1,292,406	$	480,108	$	(3,592,339	)	$	6,806,289
Capital expenditures	$	3,136	$	4,568	$	1,189	$	109	$	14,184		$	23,186



	Three months ended March 31, 2018
(in thousands)	Retail		National Programs		Wholesale Brokerage		Services		Other			Total
Total revenues	$	278,402	$	112,475	$	66,148	$	44,066	$	370		$	501,461
Investment income	$	1	$	114	$	—	$	73	$	413		$	601
Amortization	$	10,242	$	6,323	$	2,837	$	1,137	$	—		$	20,539
Depreciation	$	1,237	$	1,387	$	427	$	411	$	2,090		$	5,552
Interest expense	$	6,797	$	7,496	$	1,435	$	594	$	(6,651	)	$	9,671
Income before income taxes	$	70,399	$	20,778	$	11,383	$	8,816	$	7,065		$	118,441
Total assets	$	4,687,456	$	3,009,147	$	1,323,046	$	432,920	$	(3,837,486	)	$	5,615,083
Capital expenditures	$	2,407	$	2,678	$	420	$	285	$	3,961		$	9,751

Investments (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2019

Dec. 31, 2018

Schedule of Held-to-maturity Securities [Line Items]

Schedule of Unrealized Loss on Investments [Table Text Block]

he 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 March 31, 2019:



	Less than 12 Months				12 Months or More					Total
(in thousands)	Fair value		Unrealized losses		Fair value		Unrealized losses			Fair value		Unrealized losses
U.S. Treasury securities, obligations of U.S. Government agencies and Municipalities	$	—	$	—	$	11,456	$	(134	)	$	11,456	$	(134	)
Total	$	—	$	—	$	11,456	$	(134	)	$	11,456	$	(134	)

December 31, 2018:



	Less than 12 Months					12 Months or More					Total
(in thousands)	Fair value		Unrealized losses			Fair value		Unrealized losses			Fair value		Unrealized losses
U.S. Treasury securities, obligations of U.S. Government agencies and Municipalities	$	5,866	$	(6	)	$	12,634	$	(216	)	$	18,500	$	(222	)
Corporate debt	457		—			100		—			557		—
Total	$	6,323	$	(6	)	$	12,734	$	(216	)	$	19,057	$	(222	)

Schedule of Available-for-sale Securities Reconciliation [Table Text Block]

At March 31, 2019, the Company’s amortized cost and fair values of fixed maturity securities are summarized as follows:



(in thousands)	Cost		Gross unrealized gains		Gross unrealized losses			Fair value
U.S. Treasury securities, obligations of U.S. Government agencies and Municipalities	$	20,241	$	51	$	(134	)	$	20,158
Corporate debt	233		6		—			239
Total	$	20,474	$	57	$	(134	)	$	20,397

At December 31, 2018, the Company’s amortized cost and fair values of fixed maturity securities are summarized as follows:



(in thousands)	Cost		Gross unrealized gains		Gross unrealized losses			Fair value
U.S. Treasury securities, obligations of U.S. Government agencies and Municipalities	$	21,729	$	7	$	(222	)	$	21,514
Corporate debt	623		—		—			623
Total	$	22,352	$	7	$	(222	)	$	22,137

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 March 31, 2019 by contractual maturity are set forth below:



(in thousands)	Amortized cost		Fair value
Years to maturity:
Due in one year or less	$	2,880	$	2,868
Due after one year through five years	17,594		17,529
Due after five years	—		—
Total	$	20,474	$	20,397

The amortized cost and estimated fair value of the fixed maturity securities at December 31, 2018 by contractual maturity are set forth below:



(in thousands)	Amortized cost		Fair value
Years to maturity:
Due in one year or less	$	4,768	$	4,743
Due after one year through five years	17,584		17,394
Due after five years	—		—
Total	$	22,352	$	22,137

Basis of Financial Reporting Adopted Guidance (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Jan. 01, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash and Cash Equivalents, at Carrying Value	$ 322,477	$ 558,248		$ 438,961	$ 573,383
Assets	6,806,289	5,615,083	$ 6,863,968	6,688,668
Premiums Commissions And Fees Receivable	847,132			844,815
Other Assets, Current	146,492		125,712	128,716
Insurance Commissions and Fees	617,463	500,338
Retained Earnings (Accumulated Deficit)	2,925,170			2,833,622
Premiums Payable To Insurance Companies	801,475			857,559
Accounts Payable, Current	136,467			87,345
Accrued Liabilities, Current	193,986		293,146	279,310
Deferred Tax Liabilities, Net, Noncurrent	300,857			315,732
Employee Compensation And Benefits	332,837	270,899
Other Cost and Expense, Operating	88,783	76,313
Income Tax Expense (Benefit)	34,624	27,613
Net Income (Loss) Attributable to Parent	113,896	90,828
Operating Lease, Liability, Noncurrent	159,823		161,464	0
Liabilities			3,863,400	3,688,100
Investment Income, Nonoperating	1,081	601
Other Income	736	522
Revenues	619,280	501,461
Gain (Loss) on Disposition of Assets	(505)	2,420
Amortization	26,192	20,539
Depreciation	6,035	5,552
Interest Expense	15,198	9,671
Change In Estimated Acquisition Earn Out Payable	1,210	2,466
Operating Expenses	470,760	383,020
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest	$ 148,520	$ 118,441
Earnings Per Share, Basic	$ 0.41	$ 0.33
Earnings Per Share, Diluted	0.40	0.32
Common Stock, Dividends, Per Share, Declared	$ 0.080	$ 0.075
Restricted Cash and Investments, Current	$ 302,410			338,635
Short-term Investments	10,518			12,868
Reinsurance Recoverables, Gross	51,356			65,396
Prepaid Reinsurance Premiums	314,363			337,920
Assets, Current	1,994,748			2,167,311
Property, Plant and Equipment, Net	117,364			100,395
Goodwill	3,513,218			3,432,786
Intangible Assets, Net (Excluding Goodwill)	907,638			898,807
Investments	17,528			17,394
Other Assets, Noncurrent	81,213			71,975
Liability for Claims and Claims Adjustment Expense	51,356			65,212
Unearned Premiums	314,363			337,920
Premium Deposits And Credits Due Customers	94,426			105,640
Long-term Debt, Current Maturities	55,000			50,000
Liabilities, Current	1,647,073			1,782,986
Long-term Debt, Excluding Current Maturities	1,439,998			1,456,990
Other Liabilities, Noncurrent	160,107			132,392
Common Stock, Value, Issued	29,584			29,338
Additional Paid in Capital, Common Stock	621,249			615,180
Treasury Stock, Value	477,572			477,572
Stockholders' Equity Attributable to Parent	3,098,431	$ 2,770,593		3,000,568	$ 2,582,699
Liabilities and Equity	$ 6,806,289			$ 6,688,668
Accounting Standards Update 2016-02 [Member]
Assets			175,300
Other Assets, Current			(3,004)
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification			202,900
Accrued Liabilities, Current			13,836
Operating Lease, Liability, Noncurrent			161,464
Liabilities			$ 175,300

Basis of Financial Reporting Text Block (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Jan. 01, 2019	Dec. 31, 2018	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cash and Cash Equivalents, at Carrying Value	$ 322,477	$ 558,248		$ 438,961	$ 573,383
Insurance Commissions and Fees	617,463	500,338
Other Assets, Current	146,492		$ 125,712	128,716
Operating Lease, Right-of-Use Asset	174,580		178,304	0
Assets	6,806,289	5,615,083	6,863,968	6,688,668
Accrued Liabilities, Current	193,986		293,146	279,310
Operating Lease, Liability, Noncurrent	159,823		161,464	0
Liabilities			3,863,400	3,688,100
Investment Income, Nonoperating	1,081	601
Other Income	736	522
Revenues	619,280	501,461
Employee Compensation And Benefits	332,837	270,899
Other Cost and Expense, Operating	88,783	76,313
Gain (Loss) on Disposition of Assets	(505)	2,420
Amortization	26,192	20,539
Depreciation	6,035	5,552
Interest Expense	15,198	9,671
Change In Estimated Acquisition Earn Out Payable	1,210	2,466
Operating Expenses	470,760	383,020
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest	148,520	118,441
Income Tax Expense (Benefit)	34,624	27,613
Net Income (Loss) Attributable to Parent	$ 113,896	$ 90,828
Earnings Per Share, Basic	$ 0.41	$ 0.33
Earnings Per Share, Diluted	0.40	0.32
Common Stock, Dividends, Per Share, Declared	$ 0.080	$ 0.075
Restricted Cash and Investments, Current	$ 302,410			338,635
Short-term Investments	10,518			12,868
Premiums Commissions And Fees Receivable	847,132			844,815
Reinsurance Recoverables, Gross	51,356			65,396
Prepaid Reinsurance Premiums	314,363			337,920
Assets, Current	1,994,748			2,167,311
Property, Plant and Equipment, Net	117,364			100,395
Goodwill	3,513,218			3,432,786
Intangible Assets, Net (Excluding Goodwill)	907,638			898,807
Investments	17,528			17,394
Other Assets, Noncurrent	81,213			71,975
Premiums Payable To Insurance Companies	801,475			857,559
Liability for Claims and Claims Adjustment Expense	51,356			65,212
Unearned Premiums	314,363			337,920
Premium Deposits And Credits Due Customers	94,426			105,640
Accounts Payable, Current	136,467			87,345
Long-term Debt, Current Maturities	55,000			50,000
Liabilities, Current	1,647,073			1,782,986
Long-term Debt, Excluding Current Maturities	1,439,998			1,456,990
Deferred Tax Liabilities, Net, Noncurrent	300,857			315,732
Other Liabilities, Noncurrent	160,107			132,392
Common Stock, Value, Issued	29,584			29,338
Additional Paid in Capital, Common Stock	621,249			615,180
Treasury Stock, Value	477,572			477,572
Retained Earnings (Accumulated Deficit)	2,925,170			2,833,622
Stockholders' Equity Attributable to Parent	3,098,431	$ 2,770,593		3,000,568	$ 2,582,699
Liabilities and Equity	6,806,289			$ 6,688,668
Share-based Compensation	$ 12,994	$ 7,295
Accounting Standards Update 2016-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other Assets, Current			(3,004)
Cumulative Effect of New Accounting Principle in Period of Adoption			202,900
Operating Lease, Right-of-Use Asset			178,304
Assets			175,300
Accrued Liabilities, Current			13,836
Operating Lease, Liability, Noncurrent			161,464
Liabilities			$ 175,300

Revenues (Details) - USD ($)	3 Months Ended
Revenues (Details) - USD ($)	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Segment Reporting Information [Line Items]
Document Period End Date	Mar. 31, 2019
Investment Income, Nonoperating	$ 1,081,000	$ 601,000
Other Income	736,000	522,000
Revenues	619,280,000	501,461,000
Contract with Customer, Asset and Liability [Table Text Block]	311,137,000		$ 265,994,000
Contract with Customer, Liability	39,600,000		37,000,000.0
Contract with Customer, Liability, Noncurrent	17,700,000		16,500,000
Contract with Customer, Liability	$ 57,283,000		53,496,000
Deferred Revenue, Revenue Recognized	not significant
Deferred Costs	$ 16,300,000		13,200,000
Operating Segments [Member]
Segment Reporting Information [Line Items]
Investment Income, Nonoperating	677,000
Other Income	0
Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Investment Income, Nonoperating	677,000	413,000
Revenues	488,000	370,000
Retail [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Investment Income, Nonoperating	0	1,000
Other Income	592,000
Revenues	389,231,000	278,402,000
National Programs [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Investment Income, Nonoperating	316,000	114,000
Other Income	37,000
Revenues	109,560,000	112,475,000
Wholesale Brokerage [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Investment Income, Nonoperating	40,000	0
Other Income	107,000
Revenues	70,509,000	66,148,000
Services [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Investment Income, Nonoperating	48,000	73,000
Other Income	0
Revenues	49,492,000	$ 44,066,000
Core Commission Revenue [Member]
Segment Reporting Information [Line Items]
Fees and Commissions, Other	418,539,000
Core Commission Revenue [Member] \| Retail [Member]
Segment Reporting Information [Line Items]
Fees and Commissions, Other	287,200,000
Core Commission Revenue [Member] \| National Programs [Member]
Segment Reporting Information [Line Items]
Fees and Commissions, Other	77,178,000
Core Commission Revenue [Member] \| Wholesale Brokerage [Member]
Segment Reporting Information [Line Items]
Fees and Commissions, Other	54,173,000
Core Commission Revenue [Member] \| Services [Member]
Segment Reporting Information [Line Items]
Fees and Commissions, Other	0
Core Commission Revenue [Member] \| Other Segments [Member]
Segment Reporting Information [Line Items]
Fees and Commissions, Other	(12,000)
Fee Revenue [Member]
Segment Reporting Information [Line Items]
Fees and Commissions, Other	135,789,000
Fee Revenue [Member] \| Retail [Member]
Segment Reporting Information [Line Items]
Fees and Commissions, Other	43,877,000
Fee Revenue [Member] \| National Programs [Member]
Segment Reporting Information [Line Items]
Fees and Commissions, Other	30,246,000
Fee Revenue [Member] \| Wholesale Brokerage [Member]
Segment Reporting Information [Line Items]
Fees and Commissions, Other	12,510,000
Fee Revenue [Member] \| Services [Member]
Segment Reporting Information [Line Items]
Fees and Commissions, Other	49,444,000
Fee Revenue [Member] \| Other Segments [Member]
Segment Reporting Information [Line Items]
Fees and Commissions, Other	(288,000)
Incentive Commission Revenue [Member]
Segment Reporting Information [Line Items]
Fees and Commissions, Other	44,178,000
Incentive Commission Revenue [Member] \| Retail [Member]
Segment Reporting Information [Line Items]
Fees and Commissions, Other	42,775,000
Incentive Commission Revenue [Member] \| National Programs [Member]
Segment Reporting Information [Line Items]
Fees and Commissions, Other	919,000
Incentive Commission Revenue [Member] \| Wholesale Brokerage [Member]
Segment Reporting Information [Line Items]
Fees and Commissions, Other	373,000
Incentive Commission Revenue [Member] \| Services [Member]
Segment Reporting Information [Line Items]
Fees and Commissions, Other	0
Incentive Commission Revenue [Member] \| Other Segments [Member]
Segment Reporting Information [Line Items]
Fees and Commissions, Other	111,000
Profit-Sharing Contingent Commission Revenue [Member]
Segment Reporting Information [Line Items]
Fees and Commissions, Other	15,322,000
Profit-Sharing Contingent Commission Revenue [Member] \| Retail [Member]
Segment Reporting Information [Line Items]
Fees and Commissions, Other	11,547,000
Profit-Sharing Contingent Commission Revenue [Member] \| National Programs [Member]
Segment Reporting Information [Line Items]
Fees and Commissions, Other	860,000
Profit-Sharing Contingent Commission Revenue [Member] \| Wholesale Brokerage [Member]
Segment Reporting Information [Line Items]
Fees and Commissions, Other	2,915,000
Profit-Sharing Contingent Commission Revenue [Member] \| Services [Member]
Segment Reporting Information [Line Items]
Fees and Commissions, Other	0
Profit-Sharing Contingent Commission Revenue [Member] \| Other Segments [Member]
Segment Reporting Information [Line Items]
Fees and Commissions, Other	0
Guaranteed Supplemental Commission Revenue [Member]
Segment Reporting Information [Line Items]
Fees and Commissions, Other	3,635,000
Guaranteed Supplemental Commission Revenue [Member] \| Retail [Member]
Segment Reporting Information [Line Items]
Fees and Commissions, Other	3,240,000
Guaranteed Supplemental Commission Revenue [Member] \| National Programs [Member]
Segment Reporting Information [Line Items]
Fees and Commissions, Other	4,000
Guaranteed Supplemental Commission Revenue [Member] \| Wholesale Brokerage [Member]
Segment Reporting Information [Line Items]
Fees and Commissions, Other	391,000
Guaranteed Supplemental Commission Revenue [Member] \| Services [Member]
Segment Reporting Information [Line Items]
Fees and Commissions, Other	0
Guaranteed Supplemental Commission Revenue [Member] \| Other Segments [Member]
Segment Reporting Information [Line Items]
Fees and Commissions, Other	0
Cost to Obtain [Member]
Segment Reporting Information [Line Items]
Deferred Costs	3,400,000
Capitalized Contract Cost, Amortization	300,000
Cost to Fulfill [Member]
Segment Reporting Information [Line Items]
Deferred Costs	62,400,000		$ 69,800,000
Capitalized Contract Cost, Amortization	$ 7,400,000

Net Income Per Share - Reconciliation between Basic and Diluted Weighted Average Shares Outstanding (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Earnings Per Share [Abstract]
Net income	$ 113,896	$ 90,828
Net income attributable to unvested awarded performance stock	(3,201)	(1,902)
Net income attributable to common shares	$ 110,695	$ 88,926
Weighted average number of common shares outstanding - basic (in shares)	280,564	275,952
Less unvested awarded performance stock included in weighted average number of common shares outstanding - basic (in shares)	(7,885)	(5,780)
Weighted average number of common shares outstanding for basic earnings per common share (in shares)	272,679	270,172
Dilutive effect of stock options (in shares)	2,335	5,542
Weighted average number of shares outstanding - diluted (in shares)	275,014	275,714
Basic (in dollars per share)	$ 0.41	$ 0.33
Diluted (in dollars per share)	$ 0.40	$ 0.32

Business Combinations - Additional Information (Detail)	3 Months Ended
Business Combinations - Additional Information (Detail)	Mar. 31, 2019 USD ($) acquisition	Mar. 31, 2018 USD ($) acquisition	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	$ 115,653,000
Number of acquisitions \| acquisition	8	2
Aggregate purchase price of acquisitions	$ (6,800,000)
Payments to Acquire Businesses, Gross	$ 98,299,000
Document Period End Date	Mar. 31, 2019
Goodwill, Acquired During Period	$ 80,432,000
Goodwill assigned	80,432,000
Goodwill currently deductible for income tax purposes	62,200,000
Goodwill related to the recorded earn-out payables	18,200,000
Total revenues related to acquisitions	4,800,000
Income before income taxes related to acquisitions	1,000,000.0
Estimated acquisition earn-out payables	108,710,000	$ 40,600,000	$ 89,924,000	$ 36,175,000
Maximum Future Contingency payments Acquisitions	218,200,000
Accounts payable
Business Acquisition [Line Items]
Estimated acquisition earn-out payables	$ 25,200,000
Purchased customer accounts
Business Acquisition [Line Items]
Weighted average life (years)	15 years
Non-compete agreements
Business Acquisition [Line Items]
Weighted average life (years)	5 years
Services
Business Acquisition [Line Items]
Goodwill, Acquired During Period	$ 55,117,000
Goodwill assigned	55,100,000
National Programs
Business Acquisition [Line Items]
Goodwill, Acquired During Period	0
Wholesale Brokerage
Business Acquisition [Line Items]
Goodwill, Acquired During Period	6,063,000
Goodwill assigned	6,100,000
Services [Member]
Business Acquisition [Line Items]
Goodwill, Acquired During Period	19,252,000
Goodwill assigned	19,200,000
Other non-current liability
Business Acquisition [Line Items]
Estimated acquisition earn-out payables	$ 83,500,000
Business Combinations - Asset Deals [Member]
Business Acquisition [Line Items]
Number of acquisitions \| acquisition	7
Other Acquisitions [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	$ 15,619,000
Goodwill assigned	$ 15,911,000
Business Combinations - Stock Deals [Member]
Business Acquisition [Line Items]
Number of acquisitions \| acquisition	1

Business Combinations - Acquisitions Accounted for Business Combinations (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2019 USD ($)
Business Combination, Separately Recognized Transactions [Line Items]
Business Acquisitions Purchase Price Allocation Current Assets Cash And Cash Equivalents	$ 3,218
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets	(4,345)
Cash Paid	98,299
Other Payable	608
Recorded Earn-Out Payable	18,155
Net Assets Acquired	117,062
Maximum Potential Earn- Out Payable	27,521
Fixed assets	112
Goodwill	80,432
Purchased customer accounts	35,782
Non-compete agreements	138
Business Acquisitions Purchase Price Allocation Other Noncurrent Assets	316
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	115,653
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other	$ 1,438
Document Period End Date	Mar. 31, 2019
Business Acquisition Purchase Price Allocation Other Liabilities Assumed	$ (29)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities	(1,409)
Services [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Goodwill	19,200
Services
Business Combination, Separately Recognized Transactions [Line Items]
Goodwill	55,100
Wholesale Brokerage
Business Combination, Separately Recognized Transactions [Line Items]
Goodwill	6,100
Opus Advisory Group, LLC [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Business Acquisitions Purchase Price Allocation Current Assets Cash And Cash Equivalents	0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets	588
Net Assets Acquired	22,833
Fixed assets	40
Goodwill	16,031
Purchased customer accounts	6,500
Non-compete agreements	41
Business Acquisitions Purchase Price Allocation Other Noncurrent Assets	0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	23,200
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other	(367)
Business Acquisition Purchase Price Allocation Other Liabilities Assumed	0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities	367
Opus Advisory Group, LLC [Member] \| Services
Business Combination, Separately Recognized Transactions [Line Items]
Cash Paid	20,129
Other Payable	0
Recorded Earn-Out Payable	2,704
Net Assets Acquired	22,833
Maximum Potential Earn- Out Payable	4,550
Kerxton Insurance Agency, Inc. [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Business Acquisitions Purchase Price Allocation Current Assets Cash And Cash Equivalents	0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets	194
Net Assets Acquired	26,376
Fixed assets	114
Goodwill	18,146
Purchased customer accounts	11,360
Non-compete agreements	11
Business Acquisitions Purchase Price Allocation Other Noncurrent Assets	0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	29,825
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other	(3,449)
Business Acquisition Purchase Price Allocation Other Liabilities Assumed	0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities	3,449
Kerxton Insurance Agency, Inc. [Member] \| Services
Business Combination, Separately Recognized Transactions [Line Items]
Cash Paid	16,420
Other Payable	135
Recorded Earn-Out Payable	9,821
Net Assets Acquired	26,376
Maximum Potential Earn- Out Payable	12,996
Automotive Development Group, LLC [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Business Acquisitions Purchase Price Allocation Current Assets Cash And Cash Equivalents	0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets	0
Net Assets Acquired	15,710
Fixed assets	29
Goodwill	11,336
Purchased customer accounts	4,324
Non-compete agreements	21
Business Acquisitions Purchase Price Allocation Other Noncurrent Assets	0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	15,710
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other	0
Business Acquisition Purchase Price Allocation Other Liabilities Assumed	0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities	0
Automotive Development Group, LLC [Member] \| Services
Business Combination, Separately Recognized Transactions [Line Items]
Cash Paid	13,990
Other Payable	10
Recorded Earn-Out Payable	1,710
Net Assets Acquired	15,710
Maximum Potential Earn- Out Payable	2,000
Servco Pacific, Inc. [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Business Acquisitions Purchase Price Allocation Current Assets Cash And Cash Equivalents	3,218
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets	1,708
Net Assets Acquired	30,790
Fixed assets	50
Goodwill	19,008
Purchased customer accounts	7,300
Non-compete agreements	1
Business Acquisitions Purchase Price Allocation Other Noncurrent Assets	14
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	31,299
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other	(480)
Business Acquisition Purchase Price Allocation Other Liabilities Assumed	(29)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities	509
Servco Pacific, Inc. [Member] \| Services [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Cash Paid	29,106
Other Payable	0
Recorded Earn-Out Payable	1,684
Net Assets Acquired	30,790
Maximum Potential Earn- Out Payable	2,500
Other Acquisitions [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Business Acquisitions Purchase Price Allocation Current Assets Cash And Cash Equivalents	0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets	(6,835)
Net Assets Acquired	21,353
Fixed assets	(121)
Goodwill	15,911
Purchased customer accounts	6,298
Non-compete agreements	64
Business Acquisitions Purchase Price Allocation Other Noncurrent Assets	302
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	15,619
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other	5,734
Business Acquisition Purchase Price Allocation Other Liabilities Assumed	0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities	(5,734)
Other Acquisitions [Member] \| Various
Business Combination, Separately Recognized Transactions [Line Items]
Cash Paid	18,654
Other Payable	463
Recorded Earn-Out Payable	2,236
Net Assets Acquired	21,353
Maximum Potential Earn- Out Payable	$ 5,475

Business Combinations - Estimated Fair Values of Aggregate Assets and Liabilities Acquired (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2019 USD ($)
Fair Value Of Assets And Liabilities Statement [Line Items]
Business Acquisitions Purchase Price Allocation Current Assets Cash And Cash Equivalents	$ 3,218
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets	(4,345)
Payments to Acquire Businesses, Gross	98,299
Recorded Earn-Out Payable	18,155
Fixed assets	112
Goodwill	80,432
Purchased customer accounts	35,782
Non-compete agreements	138
Business Acquisitions Purchase Price Allocation Other Noncurrent Assets	316
Total assets acquired	115,653
Other current liabilities	1,438
Total liabilities assumed	1,409
Net assets acquired	117,062
Maximum Potential Earn- Out Payable	27,521
Other Acquisitions [Member]
Fair Value Of Assets And Liabilities Statement [Line Items]
Business Acquisitions Purchase Price Allocation Current Assets Cash And Cash Equivalents	0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets	(6,835)
Fixed assets	(121)
Goodwill	15,911
Purchased customer accounts	6,298
Non-compete agreements	64
Business Acquisitions Purchase Price Allocation Other Noncurrent Assets	302
Total assets acquired	15,619
Other current liabilities	5,734
Total liabilities assumed	5,734
Net assets acquired	21,353
Opus Advisory Group, LLC [Member]
Fair Value Of Assets And Liabilities Statement [Line Items]
Business Acquisitions Purchase Price Allocation Current Assets Cash And Cash Equivalents	0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets	588
Fixed assets	40
Goodwill	16,031
Purchased customer accounts	6,500
Non-compete agreements	41
Business Acquisitions Purchase Price Allocation Other Noncurrent Assets	0
Total assets acquired	23,200
Other current liabilities	(367)
Total liabilities assumed	(367)
Net assets acquired	22,833
Kerxton Insurance Agency, Inc. [Member]
Fair Value Of Assets And Liabilities Statement [Line Items]
Business Acquisitions Purchase Price Allocation Current Assets Cash And Cash Equivalents	0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets	194
Fixed assets	114
Goodwill	18,146
Purchased customer accounts	11,360
Non-compete agreements	11
Business Acquisitions Purchase Price Allocation Other Noncurrent Assets	0
Total assets acquired	29,825
Other current liabilities	(3,449)
Total liabilities assumed	(3,449)
Net assets acquired	26,376
Automotive Development Group, LLC [Member]
Fair Value Of Assets And Liabilities Statement [Line Items]
Business Acquisitions Purchase Price Allocation Current Assets Cash And Cash Equivalents	0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets	0
Fixed assets	29
Goodwill	11,336
Purchased customer accounts	4,324
Non-compete agreements	21
Business Acquisitions Purchase Price Allocation Other Noncurrent Assets	0
Total assets acquired	15,710
Other current liabilities	0
Total liabilities assumed	0
Net assets acquired	15,710
Servco Pacific, Inc. [Member]
Fair Value Of Assets And Liabilities Statement [Line Items]
Business Acquisitions Purchase Price Allocation Current Assets Cash And Cash Equivalents	3,218
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets	1,708
Fixed assets	50
Goodwill	19,008
Purchased customer accounts	7,300
Non-compete agreements	1
Business Acquisitions Purchase Price Allocation Other Noncurrent Assets	14
Total assets acquired	31,299
Other current liabilities	(480)
Total liabilities assumed	(509)
Net assets acquired	30,790
Wholesale Brokerage
Fair Value Of Assets And Liabilities Statement [Line Items]
Goodwill	6,100
Services [Member]
Fair Value Of Assets And Liabilities Statement [Line Items]
Goodwill	19,200
Services [Member] \| Servco Pacific, Inc. [Member]
Fair Value Of Assets And Liabilities Statement [Line Items]
Payments to Acquire Businesses, Gross	29,106
Recorded Earn-Out Payable	1,684
Net assets acquired	30,790
Maximum Potential Earn- Out Payable	$ 2,500

Business Combinations - Results of Operations (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Document Period End Date	Mar. 31, 2019
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual	$ 4,800
Business Combination Pro Forma Information Income Loss Before Income Taxes Of Acquiree Since Acquisition Date Actual	1,000
Total revenues	624,219	$ 512,730
Income before income taxes	149,863	121,469
Net income	$ 114,926	$ 93,150
Net income per share:
Basic (in dollars per share)	$ 0.41	$ 0.34
Diluted (in dollars per share)	$ 0.41	$ 0.33
Weighted Average Basic Shares Outstanding, Pro Forma	272,679	270,172
Weighted average number of shares outstanding:
Pro Forma Weighted Average Shares Outstanding, Diluted	275,014	275,714

Business Combinations - Additions, Payments, and Net Changes, as well as Interest Expense Accretion on Estimated Acquisition Earn-Out Payables (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Business Combinations [Abstract]
Document Period End Date	Mar. 31, 2019
Beginning balance	$ 89,924	$ 36,175
Additions to estimated acquisition earn-out payables	18,155	4,524
Payments for estimated acquisition earn-out payables	(579)	(2,565)
Subtotal	107,500	38,134
Net change in earnings from estimated acquisition earn-out payables:
Change in fair value on estimated acquisition earn-out payables	50	2,062
Interest expense accretion	1,160	404
Net change in earnings from estimated acquisition earn-out payables	1,210	2,466
Ending balance	$ 108,710	$ 40,600

Goodwill - Changes in Carrying Value of Goodwill by Operating Segment (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2019 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 3,432,786
Goodwill of acquired businesses	80,432
Ending balance	$ 3,513,218
Document Period End Date	Mar. 31, 2019
Services
Goodwill [Roll Forward]
Beginning balance	$ 2,063,150
Goodwill of acquired businesses	55,117
Ending balance	2,118,267
National Programs
Goodwill [Roll Forward]
Beginning balance	926,206
Goodwill of acquired businesses	0
Ending balance	926,206
Wholesale Brokerage
Goodwill [Roll Forward]
Beginning balance	291,622
Goodwill of acquired businesses	6,063
Ending balance	297,685
Services
Goodwill [Roll Forward]
Beginning balance	151,808
Goodwill of acquired businesses	19,252
Ending balance	$ 171,060

Amortizable Intangible Assets - Amortizable Intangible Assets (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 1,872,339	$ 1,837,873
Accumulated Amortization	(964,701)	(939,066)
Net Carrying Value	907,638	898,807
Purchased customer accounts
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	1,838,732	1,804,404
Accumulated Amortization	(934,756)	(909,415)
Net Carrying Value	$ 903,976	$ 894,989
Weighted Average Life (Years)	14 years 10 months 24 days	14 years 10 months 24 days
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 33,607	$ 33,469
Accumulated Amortization	(29,945)	(29,651)
Net Carrying Value	$ 3,662	$ 3,818
Weighted Average Life (Years)	4 years 6 months	4 years 6 months

Amortizable Intangible Assets - Additional Information (Detail) $ in Millions	Mar. 31, 2019 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense estimated, year one (2015)	$ 102.5
Amortization expense estimated, year two (2016)	95.4
Amortization expense estimated, year three (2017)	91.8
Amortization expense estimated, year four (2018)	87.3
Amortization expense estimated, year five (2019)	$ 80.3

Long-Term Debt - Long-Term Debt Instrument (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 11, 2019	Dec. 31, 2018	Sep. 18, 2014
Debt Instrument [Line Items]
Document Period End Date	Mar. 31, 2019
Total current portion of long-term debt	$ 55,000		$ 50,000
Total notes	848,583		499,101
Long-term credit agreements	601,250		965,000
Debt Issuance Costs, Gross	(9,835)		(7,111)
Total long-term debt	1,439,998		1,456,990
Current portion of long-term debt	55,000		50,000
Total debt	1,494,998		1,506,990
Notes Payable, Current	15,000		15,000
4.200% senior notes, semi-annual interest payments, net of the unamortized discount, balloon due 2024
Debt Instrument [Line Items]
Total notes	499,140		499,101
Four Point Five Zero Zero Percent Senior Notes Due Two Thousand Twenty Nine [Member]
Debt Instrument [Line Items]
Total notes	350,000	$ 350,000
5-year term-loan facility, periodic interest and principal payments, LIBOR plus up to 1.750%, expires June 28, 2022
Debt Instrument [Line Items]
Current portion of loan facility	40,000		35,000
Long-term credit agreements	320,000		330,000
5-year revolving-loan facility, periodic interest payments, LIBOR plus up to 1.500%, plus commitment fees up to 0.250%, expires June 28, 2022
Debt Instrument [Line Items]
Long-term credit agreements	0		350,000
Revolving Credit Loan Expires In Two Thousand Sixteen [Member]
Debt Instrument [Line Items]
Long-term credit agreements	$ 281,250		$ 285,000
Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.00%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Long-term credit agreements				$ 475,000

Long-Term Debt - Long-Term Debt Instrument (Additional Information) (Detail) - USD ($)		3 Months Ended	12 Months Ended
	Dec. 21, 2018	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2019	Mar. 11, 2019	Nov. 15, 2018	Jun. 28, 2017	Sep. 18, 2014	Apr. 17, 2014	Sep. 15, 2011
Debt Instrument [Line Items]
Unsecured Revolving Credit Facility		$ 10,000,000.0	$ 350,000,000.0			$ 600,000,000.0	$ 400,000,000.0		$ 800,000,000.0
Unsecured Long-term Debt, Noncurrent		360,000,000.0
Debt Instrument, Periodic Payment	$ 250,000,000.0
Debt Instrument, Annual Principal Payment		1,494,998,000	1,506,990,000
Senior Notes		$ 848,583,000	$ 499,101,000
4.500% senior notes, Series E, quarterly interest payments, balloon due 2018
Debt Instrument [Line Items]
Debt instrument maturity year		2029	2029
Unsecured Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage					4.50%			4.20%
Debt Instrument, Annual Principal Payment		$ 350,000,000.0	$ 500,000,000.0
4.200% senior notes, semi-annual interest payments, net of the unamortized discount, balloon due 2024
Debt Instrument [Line Items]
Debt instrument maturity year		2024	2024
Senior Notes		$ 499,140,000	$ 499,101,000
5-year term-loan facility, periodic interest and principal payments, LIBOR plus up to 1.750%, expires June 28, 2022
Debt Instrument [Line Items]
Line of credit facility, expiration period		5 years	5 years
Line of credit facility, expiration date		Jun. 28, 2022	Jun. 28, 2022
Five Year Term Loan Facility Expires In Two Thousand Ninteen Current [Member]
Debt Instrument [Line Items]
Debt instrument maturity year		2022	2022
5-year revolving-loan facility, periodic interest payments, LIBOR plus up to 1.500%, plus commitment fees up to 0.250%, expires June 28, 2022
Debt Instrument [Line Items]
Line of credit facility, expiration period		5 years	5 years
Line of credit facility, expiration date		Jun. 28, 2022	Jun. 28, 2022
Four Point Five Zero Zero Percent Senior Notes Due Two Thousand Twenty Nine [Member]
Debt Instrument [Line Items]
Senior Notes		$ 350,000,000.0			$ 350,000,000.0
Maximum
Debt Instrument [Line Items]
Debt instrument, variable interest rate		1.75%
Maximum \| Term Loan [Member] \| LIBOR
Debt Instrument [Line Items]
Debt instrument, variable interest rate		1.75%	1.75%
Minimum [Member]
Debt Instrument [Line Items]
Debt instrument, variable interest rate		1.00%
Revolving Credit Facility [Member] \| Maximum
Debt Instrument [Line Items]
Line of Credit Facility, Commitment Fee Percentage		0.25%	0.25%
Revolving Credit Facility [Member] \| Maximum \| LIBOR
Debt Instrument [Line Items]
Debt instrument, variable interest rate		1.50%	1.50%
Term Loan [Member]
Debt Instrument [Line Items]
Unsecured Long-term Debt, Noncurrent	300,000,000.0		$ 300,000,000.0
Term Loan [Member] \| Maximum
Debt Instrument [Line Items]
Unsecured Long-term Debt, Noncurrent	450,000,000.0
Term Loan [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Unsecured Long-term Debt, Noncurrent	$ 300,000,000.0
Series E [Member] \| Master Agreement [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage										4.50%
Subsequent Event [Member]
Debt Instrument [Line Items]
Long-term Debt, Maturities, Repayments of Principal in Year Two				$ 3,800,000

Long-Term Debt - Narrative (Detail) - USD ($)		3 Months Ended			12 Months Ended
Long-Term Debt - Narrative (Detail) - USD ($)	Dec. 21, 2018	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2018	Jun. 30, 2019	Mar. 11, 2019	Nov. 15, 2018	Jun. 28, 2017	Sep. 18, 2014	Apr. 17, 2014	Sep. 15, 2011
Debt Instrument [Line Items]
Document Period End Date		Mar. 31, 2019
Credit facility, outstanding amount		$ 601,250,000	$ 965,000,000		$ 965,000,000
Unsecured revolving credit facility		10,000,000.0	350,000,000.0		350,000,000.0			$ 600,000,000.0	$ 400,000,000.0		$ 800,000,000.0
Write off of Deferred Debt Issuance Cost			200,000
Debt Issuance Costs, Noncurrent, Net									$ 1,600,000
Debt Instrument, Periodic Payment, Principal			365,000,000.0	$ 5,000,000.0
Proceeds from Issuance of Debt			2,800,000
Unsecured term loans		360,000,000.0
Senior Notes		848,583,000	499,101,000		499,101,000
Debt Instrument, Periodic Payment	$ 250,000,000.0
Outstanding debt balance		1,494,998,000	1,506,990,000		1,506,990,000
Unsecured Senior Notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage							4.50%			4.20%
Debt instrument, face amount										$ 500,000,000.0
Outstanding debt balance		350,000,000.0	500,000,000.0		500,000,000.0
Four Point Five Zero Zero Percent Senior Notes Due Two Thousand Twenty Nine [Member]
Debt Instrument [Line Items]
Senior Notes		$ 350,000,000.0					$ 350,000,000.0
Term Loan
Debt Instrument [Line Items]
Debt Instrument, Periodic Payment, Principal			67,500,000
Unsecured term loans	300,000,000.0		$ 300,000,000.0		$ 300,000,000.0
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility, outstanding amount										$ 475,000,000.0
Master Agreement \| Series E
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage												4.50%
LIBOR
Debt Instrument [Line Items]
30-day Adjusted LIBOR Rate		2.50%
Maximum
Debt Instrument [Line Items]
Debt instrument, variable interest rate		1.75%
Maximum \| Term Loan
Debt Instrument [Line Items]
Unsecured term loans	450,000,000.0
Maximum \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Facility fee		0.25%			0.25%
Maximum \| LIBOR \| Term Loan
Debt Instrument [Line Items]
Debt instrument, variable interest rate		1.75%			1.75%
Maximum \| LIBOR \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument, variable interest rate		1.50%			1.50%
Minimum [Member]
Debt Instrument [Line Items]
Debt instrument, variable interest rate		1.00%
Minimum [Member] \| Term Loan
Debt Instrument [Line Items]
Unsecured term loans	$ 300,000,000.0
Subsequent Event [Member]
Debt Instrument [Line Items]
Long-term Debt, Maturities, Repayments of Principal in Year Two						$ 3,800,000

Supplemental Disclosures of Cash Flow Information and Non-Cash Financing and Investing Activities - Significant Non-Cash Investing and Financing Activities (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2017
Restricted Cash and Cash Equivalents Items [Line Items]
Document Period End Date	Mar. 31, 2019
Cash and cash equivalents	$ 322,477,000	$ 558,248,000	$ 438,961,000	$ 573,383,000
Restricted Cash and Cash Equivalents	302,410,000	268,129,000	338,635,000	250,705,000
Cash paid during the period for:
Interest	20,127,000	14,472,000
Income taxes	3,120,000	3,179,000
Significant non-cash investing and financing activities
Other payable issued for purchased customer accounts	608,000	1,690,000
Estimated acquisition earn-out payables and related charges	18,155,000	4,524,000
Cash and Cash Equivalents inclusive of Restricted Cash [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Cash and Cash Equivalents, Period Increase (Decrease)	(152,709,000)	2,289,000
Cash and cash equivalents	$ 624,887,000	$ 826,377,000	$ 777,596,000	$ 824,088,000

Supplemental Disclosures of Cash Flow Information and Non-Cash Financing and Investing Activities Restricted Cash (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2017
Cash and cash equivalents	$ 322,477,000	$ 558,248,000	$ 438,961,000	$ 573,383,000
Cash and Cash Equivalents, at Carrying Value	624,887,000	826,377,000	777,596,000	824,088,000
Restricted Cash and Cash Equivalents	302,410,000	268,129,000	338,635,000	250,705,000
Cash and Cash Equivalents inclusive of Restricted Cash [Member]
Cash and Cash Equivalents, Period Increase (Decrease)	(152,709,000)	2,289,000
Cash and cash equivalents	$ 624,887,000	$ 826,377,000	$ 777,596,000	$ 824,088,000

Segment Information - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2019 USD ($) Segment	Mar. 31, 2018 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| Segment	4
Total revenues	$ 619,280	$ 501,461
Document Period End Date	Mar. 31, 2019
London, Bermuda and Cayman Islands
Segment Reporting Information [Line Items]
Total revenues	$ 3,400	$ 3,300

Segment Information - Summarized Financial Information Reportable Segments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Jan. 01, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Total revenues	$ 619,280	$ 501,461
Investment income	1,081	601
Amortization	26,192	20,539
Depreciation	6,035	5,552
Interest Expense	15,198	9,671
Income before income taxes	148,520	118,441
Total assets	6,806,289	5,615,083	$ 6,863,968	$ 6,688,668
Capital expenditures	23,186	9,751
Operating Segments
Segment Reporting Information [Line Items]
Investment income	677
Operating Segments \| Services
Segment Reporting Information [Line Items]
Total revenues	389,231	278,402
Investment income	0	1
Amortization	15,444	10,242
Depreciation	1,624	1,237
Interest Expense	21,153	6,797
Income before income taxes	93,841	70,399
Total assets	5,773,290	4,687,456
Capital expenditures	3,136	2,407
Operating Segments \| National Programs
Segment Reporting Information [Line Items]
Total revenues	109,560	112,475
Investment income	316	114
Amortization	6,596	6,323
Depreciation	1,590	1,387
Interest Expense	5,354	7,496
Income before income taxes	19,316	20,778
Total assets	2,852,824	3,009,147
Capital expenditures	4,568	2,678
Operating Segments \| Wholesale Brokerage
Segment Reporting Information [Line Items]
Total revenues	70,509	66,148
Investment income	40	0
Amortization	2,849	2,837
Depreciation	404	427
Interest Expense	1,327	1,435
Income before income taxes	15,569	11,383
Total assets	1,292,406	1,323,046
Capital expenditures	1,189	420
Operating Segments \| Services
Segment Reporting Information [Line Items]
Total revenues	49,492	44,066
Investment income	48	73
Amortization	1,303	1,137
Depreciation	284	411
Interest Expense	872	594
Income before income taxes	9,177	8,816
Total assets	480,108	432,920
Capital expenditures	109	285
Other
Segment Reporting Information [Line Items]
Total revenues	488	370
Investment income	677	413
Amortization	0	0
Depreciation	2,133	2,090
Interest Expense	(13,508)	(6,651)
Income before income taxes	10,617	7,065
Total assets	(3,592,339)	(3,837,486)
Capital expenditures	$ 14,184	$ 3,961

Investments - Schedule of Investments in Fixed Maturity Securities (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Debt Maturities, Single Maturity Date	$ 7,600	$ 8,100
Cost	20,474	22,352
Gross Unrealized Gains	57	7
Gross Unrealized Losses	(134)	(222)
Fair Value	20,397	22,137
U.S. Treasury securities, obligations of U.S. Government agencies and Municipalities
Schedule of Available-for-sale Securities [Line Items]
Cost	20,241	21,729
Gross Unrealized Gains	51	7
Gross Unrealized Losses	(134)	(222)
Fair Value	20,158	21,514
Corporate debt
Schedule of Available-for-sale Securities [Line Items]
Cost	233	623
Gross Unrealized Gains	6	0
Gross Unrealized Losses	0	0
Fair Value	$ 239	$ 623

Investments - Summary of Unrealized Loss Position (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Schedule of Available-for-sale Securities [Line Items]
Fair Value, Less than 12 Months	$ 0	$ 6,323
Unrealized Losses, Less than 12 Months	0	(6)
Fair Value, 12 Months or More	11,456	12,734
Unrealized Losses, 12 Months or More	(134)	(216)
Fair Value	11,456	19,057
Unrealized Losses	(134)	(222)
U.S. Treasury securities, obligations of U.S. Government agencies and Municipalities
Schedule of Available-for-sale Securities [Line Items]
Fair Value, Less than 12 Months	0	5,866
Unrealized Losses, Less than 12 Months	0	(6)
Fair Value, 12 Months or More	11,456	12,634
Unrealized Losses, 12 Months or More	(134)	(216)
Fair Value	11,456	18,500
Unrealized Losses	$ (134)	(222)
Corporate debt
Schedule of Available-for-sale Securities [Line Items]
Fair Value, Less than 12 Months		457
Unrealized Losses, Less than 12 Months		0
Fair Value, 12 Months or More		100
Unrealized Losses, 12 Months or More		0
Fair Value		557
Unrealized Losses		$ 0

Investments - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2019 USD ($)	Dec. 31, 2018 USD ($) Securities	Sep. 30, 2018 Securities
Schedule of Available-for-sale Securities [Line Items]
Document Period End Date	Mar. 31, 2019
Available-for-sale Securities	$ 20,397	$ 22,137
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Fair Value	2,868	$ 4,743
Number of securities in unrealized loss position \| Securities		20	9
Proceeds from sale of investment in fixed maturity securities	1,900
Proceeds from Sale of Other Investments	$ 2,400
Investment security maturity date, start	Jan. 01, 2019
Investment security maturity date, End	Mar. 31, 2019
Gross realized gains and losses of securities	insignificant
Investments on deposit with the state insurance department	$ 4,100
U.S. Treasury securities, obligations of U.S. Government agencies and Municipalities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities	20,158	$ 21,514
Corporate Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities	$ 239	$ 623

Investments - Amortized Cost and Fair Value of Fixed Maturity Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Amortized Cost
Due in one year or less	$ 2,880	$ 4,768
Due after one year through five years	17,594	17,584
Due after five years	0	0
Amortized Cost, Total	20,474	22,352
Fair Value
Due in one year or less	2,868	4,743
Due after one year through five years	17,529	17,394
Due after five years	0	0
Fair Value, Total	$ 20,397	$ 22,137

Losses and Loss Adjustment Reserve - Effects of Reinsurance on Premiums Written and Earned (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2019 USD ($)
Written
Direct premiums	$ 133,319
Ceded premiums	(133,317)
Net premiums	2
Earned
Direct premiums	156,876
Ceded premiums	(156,874)
Net premiums	$ 2

Losses and Loss Adjustment Reserve - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2019 USD ($) Reinsurer	Dec. 31, 2018 USD ($)
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Ceded rate of premiums under insurance program	100.00%
Document Period End Date	Mar. 31, 2019
Premiums written net	$ 133,317
Ceded unpaid loss	51,400
Prepaid reinsurance premiums	314,363	$ 337,920
Reserve for losses and loss adjustment expense	$ 51,400
Number of reinsurers \| Reinsurer	2
Wright National Flood Insurance Company [Member]
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Ceded rate of premiums under insurance program	100.00%
Expenses and allowance rate received in premiums	30.00%
Premiums written net	$ 132,900
Wright National Flood Insurance Company [Member] \| Quota Share Agreement
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Effective cedes rate under quota share agreement	100.00%
Commission rate, percent of ceded written premiums	30.50%
Ceded amount	$ 400

Statutory Financial Information - Additional Information (Detail) - Wright Flood - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Statutory Accounting Practices [Line Items]
Statutory capital and surplus required	$ 7,500,000
Statutory capital and surplus	20,000,000.0	$ 19,400,000
Statutory net Income	$ 200,000	$ 4,500,000

Subsidiary Dividend Restrictions - Additional Information (Detail) - Wright Flood $ in Millions	3 Months Ended
	Mar. 31, 2019 USD ($)
Dividend Restrictions [Line Items]
Dividend rate as a percentage of net income	100.00%
Maximum dividend payout that may be made without prior approval	$ 4.5
Maximum
Dividend Restrictions [Line Items]
Dividend rate as a percentage of net income	10.00%

Shareholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	Dec. 12, 2018	May 01, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018
Accelerated Share Repurchases [Line Items]
Shares repurchased, authorized amount			$ 147,500	$ 100,000
Shares repurchased, number of shares received initially (in shares)				13,796,696	13,796,696
Fair value of common stock repurchased			477,572	$ 477,572
Accelerated Share Repurchases, Settlement (Payment) or Receipt				$ 20,000
Common Stock, Shares, Outstanding				279,583,006	282,047,861
Common Stock, Shares Authorized				560,000,000	560,000,000
Common Stock, Par or Stated Value Per Share				$ 0.10	$ 0.10
Accelerated Share Repurchase Agreement [Member]
Accelerated Share Repurchases [Line Items]
Fair value of common stock repurchased				$ 80,000
Treasury Stock, Shares, Acquired	2,910,150
Repurchase Agreements [Member]
Accelerated Share Repurchases [Line Items]
Shares repurchased, authorized amount			$ 100,000
Subsequent Event [Member] \| Third Accelerated Share Repurchase Agreement [Member]
Accelerated Share Repurchases [Line Items]
Shares repurchased, authorized amount		$ 372,500
Shares repurchased, number of shares received initially (in shares)		500,000,000.0

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Investments, Owned, Federal Income Tax Note [Line Items]
Income Tax Expense (Benefit)	$ (34,624)	$ (27,613)
Document Period End Date	Mar. 31, 2019

Subsequent Event (Details) $ in Thousands	3 Months Ended
Subsequent Event (Details) $ in Thousands	Mar. 31, 2019 USD ($)
Subsequent Event [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net	$ 117,062
Payments to Acquire Businesses, Gross	98,299
Business Acquisition Cost Of Acquired Entity Other Payable	608
Business Acquisition Earn Out Payables	$ 27,521

Leases (Details) - USD ($) $ in Thousands	3 Months Ended
Leases (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Leases, Operating [Abstract]
Operating Lease, Payments	$ 12,311
Operating Lease, Weighted Average Remaining Lease Term	5 years 8 months 23 days
Operating Lease, Weighted Average Discount Rate, Percent	381.00%
Operating Lease, Cost	$ 12,088
Operating Lease, Right-of-Use Asset	174,580	$ 178,304	$ 0
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year	33,577		48,292
Lessee, Operating Lease, Liability, Payments, Due Year Two	44,573		43,517
Lessee, Operating Lease, Liability, Payments, Due Year Three	36,998		34,836
Lessee, Operating Lease, Liability, Payments, Due Year Four	29,940		27,035
Lessee, Operating Lease, Liability, Payments, Due Year Five	23,184		19,981
Finance Lease, Liability, Payments, Due after Year Five	55,084		36,349
Lessee, Operating Lease, Liability, Payments, Due	223,356
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	24,518
Operating Lease, Liability	198,838		210,010
Operating Lease, Liability, Current	39,015
Operating Lease, Liability, Noncurrent	159,823	$ 161,464	$ 0
Variable Lease, Cost	713
Lease, Cost	12,801
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$ 2,439

Nature of Operations - Additional Information (Detail)	3 Months Ended
Nature of Operations - Additional Information (Detail)	Mar. 31, 2019 Segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	4