For the year ending 2025-12-31, AJG had -$11,930,000K decrease in cash & cash equivalents over the period.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net earnings | 1,503,000 | 1,470,400 | 966,000 | 1,116,000 |
| Net gain on investments and other | 23,000 | 22,700 | 8,400 | 11,000 |
| Depreciation and amortization | 1,122,000 | 842,300 | 696,500 | 599,600 |
| Change in estimated acquisition earnout payables | 46,000 | 26,000 | 377,300 | 83,000 |
| Amortization of deferred compensation and restricted stock | 148,000 | 117,500 | 105,100 | 85,400 |
| Stock-based and other noncash compensation expense | 49,000 | 41,900 | 31,400 | 24,400 |
| Payments on acquisition earnouts in excess of original estimates | -491,000 | -42,400 | -68,400 | -81,700 |
| Provision for deferred income taxes | 61,000 | 108,600 | 43,100 | -209,000 |
| Effect of changes in foreign exchange rates | -54,000 | -400 | -10,300 | 34,000 |
| Net change in premium and fees receivable | - | - | - | 4,789,300 |
| Net change in accounts receivable, net | 278,000 | 65,000 | 503,500 | - |
| Net change in deferred revenue | -56,000 | -116,100 | 49,000 | 29,300 |
| Net change in premiums payable to underwriting enterprises | - | - | - | 5,084,200 |
| Net change in other current assets | 218,000 | 114,300 | 107,300 | 47,100 |
| Net change in accrued compensation and other accrued liabilities | -112,000 | -363,300 | -462,900 | -215,300 |
| Net change in income taxes payable | -60,000 | -41,800 | -77,700 | 49,900 |
| Net change in other noncurrent assets and liabilities | 39,000 | -14,800 | -55,400 | -10,400 |
| Net cash provided by operating activities | 1,930,000 | 2,582,900 | 2,031,700 | 2,125,400 |
| Capital expenditures | 145,000 | 141,900 | 193,600 | 182,700 |
| Cash paid for acquisitions, net of cash and restricted cash acquired | 15,766,000 | 1,462,300 | 3,041,900 | 764,900 |
| Net proceeds from sales of operations/books of business | 17,000 | 19,700 | 9,900 | 11,000 |
| Net funding of investment transactions | -2,000 | -6,000 | -5,500 | -1,000 |
| Net funding of premium finance loans | -16,000 | 8,900 | 72,900 | 69,200 |
| Net cash used by investing activities | -15,876,000 | -1,587,400 | -3,293,000 | -1,004,800 |
| Payments on acquisition earnouts | 442,000 | 142,800 | 97,800 | 106,500 |
| Proceeds from issuance of common stock | 1,499,000 | 8,506,800 | 120,200 | 123,100 |
| Payments to noncontrolling interests | 5,000 | 3,700 | 2,400 | 3,600 |
| Dividends paid | 667,000 | 525,400 | 473,600 | 429,500 |
| Net change in fiduciary assets and liabilities | 1,531,000 | -1,400 | 1,296,500 | - |
| Net borrowings on premium financing debt facility | 15,000 | 40,900 | -41,700 | -25,300 |
| Borrowings on line of credit facility | 2,546,000 | 1,663,200 | 3,795,000 | 2,570,000 |
| Repayments on line of credit facility | 2,546,000 | 1,906,900 | 3,610,000 | 2,555,000 |
| Net borrowings of corporate related long-term debt | -197,000 | 5,552,600 | 1,634,000 | -201,500 |
| Debt acquisition costs | 9,000 | -51,600 | -17,700 | 2,200 |
| Settlements on terminated interest rate swaps | 0 | -2,800 | -188,000 | -52,700 |
| Net cash provided by financing activities | 1,713,000 | 13,052,700 | 2,873,900 | -522,800 |
| Effect of changes in foreign exchange rates on cash, cash equivalents, restricted cash and fiduciary cash | 303,000 | -122,900 | -33,500 | -99,900 |
| Net (decrease) increase in cash, cash equivalents, restricted cash and fiduciary cash | -11,930,000 | 13,925,300 | 1,579,100 | 497,900 |
| Cash and cash equivalents at beginning of period | 20,468,000 | 6,543,300 | 4,964,200 | 4,466,300 |
| Cash and cash equivalents at end of period | 8,538,000 | 20,468,600 | 6,543,300 | 4,964,200 |
Arthur J. Gallagher & Co. (AJG)
Arthur J. Gallagher & Co. (AJG)