terminology
business strategy B&B
to attract high quality insurance intermediaries and service organizations to join our operations
EBITDAC
Earnings before interest, income tax, depreciation, amortization, and changes in estimated earn-out payables.
EBITDAC adjusted
adjusted for gains and losses on disposal, acquisition and integration costs, foreign currency translation.
Foreign Currency Translation
period over period impact of fct which is calculated by applying current year fx to the same period prior year.
Type of acquisitions
disciplined focus on making acquisitions that fit culturally and make sense financially.
cash usage percentage
79% acquisitions 14% dividends 7% capex
CFO BB
R. Andrew Watts (also treasurer) tenure 9Y 23
CEO BB
J Powell Brown tenure 28Y 23
Revenue recognition BB
The majority of our revenue is commission derived from our performance as agents and brokers, acting on behalf of insurance carriers to sell products to customers that are seeking to transfer risk.
Conversely, acting on behalf of those customers in negotiation with insurance carriers seeking to acquire risk in exchange for premiums.
To a lesser extent BB earns revenues in the form of fees.
Business combinations
BB has acquired significant intangible assets through acquisitions of businesses. These assets generally consist of purchased customer accounts, non-compete agreements, the excess of purchase prices over the fair value of the identifiable net assets acquired (goodwill).
Purchase price
includes an estimation of thd fair value of liabilities associated with any potential earn-out provisions, where earn-out is part of the negotiated transaction.