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Segment Information
 6 Months Ended
Jun. 30, 2019
Segment Reporting [Abstract]  
Segment Information 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 $4.6 million and $4.2 million of total revenues for the three months ended June 30, 2019 and 2018, respectively. These operations earned $8.0 million and $7.5 million of total revenues for the six months ended June 30, 2019 and 2018, respectively. Long-lived assets held outside of the United States as of June 30, 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 June 30, 2019
(in thousands)
Retail
 
National
Programs
 
Wholesale
Brokerage
 
Services
 
Other
 
Total
Total revenues
$
310,738

 
$
131,817

 
$
81,171

 
$
50,797

 
$
696

 
$
575,219

Investment income
$
17

 
$
380

 
$
43

 
$
34

 
$
1,051

 
$
1,525

Amortization
$
15,357

 
$
6,357

 
$
2,844

 
$
1,396

 
$
—

 
$
25,954

Depreciation
$
1,919

 
$
1,621

 
$
425

 
$
303

 
$
1,398

 
$
5,666

Interest expense
$
21,201

 
$
4,223

 
$
1,260

 
$
1,203

 
$
(11,594
)
 
$
16,293

Income before income taxes
$
44,217

 
$
40,243

 
$
22,944

 
$
9,268

 
$
6,850

 
$
123,522

Total assets
$
5,925,156

 
$
2,981,933

 
$
1,352,659

 
$
466,162

 
$
(3,561,143
)
 
$
7,164,767

Capital expenditures
$
2,408

 
$
1,942

 
$
513

 
$
222

 
$
6,903

 
$
11,988

 
Three months ended June 30, 2018
(in thousands)
Retail
 
National
Programs
 
Wholesale
Brokerage
 
Services
 
Other
 
Total
Total revenues
$
233,317

 
$
118,440

 
$
75,568

 
$
45,867

 
$
(5
)
 
$
473,187

Investment income
$
—

 
$
132

 
$
81

 
$
36

 
$
482

 
$
731

Amortization
$
10,502

 
$
6,324

 
$
2,822

 
$
1,137

 
$
—

 
$
20,785

Depreciation
$
1,273

 
$
1,354

 
$
426

 
$
379

 
$
2,167

 
$
5,599

Interest expense
$
7,112

 
$
6,376

 
$
1,371

 
$
583

 
$
(5,390
)
 
$
10,052

Income before income taxes
$
44,361

 
$
24,324

 
$
20,547

 
$
8,085

 
$
3,593

 
$
100,910

Total assets
$
4,668,251

 
$
2,844,485

 
$
1,267,207

 
$
419,876

 
$
(3,498,262
)
 
$
5,701,557

Capital expenditures
$
1,954

 
$
2,215

 
$
447

 
$
147

 
$
4,876

 
$
9,639

 
Six months ended June 30, 2019
(in thousands)
Retail
 
National
Programs
 
Wholesale
Brokerage
 
Services
 
Other
 
Total
Total revenues
$
699,969

 
$
241,377

 
$
151,680

 
$
100,289

 
$
1,184

 
$
1,194,499

Investment income
$
17

 
$
696

 
$
83

 
$
82

 
$
1,728

 
$
2,606

Amortization
$
30,801

 
$
12,953

 
$
5,693

 
$
2,699

 
$
—

 
$
52,146

Depreciation
$
3,543

 
$
3,211

 
$
829

 
$
587

 
$
3,531

 
$
11,701

Interest expense
$
42,354

 
$
9,577

 
$
2,587

 
$
2,075

 
$
(25,102
)
 
$
31,491

Income before income taxes
$
138,058

 
$
59,559

 
$
38,513

 
$
18,445

 
$
17,467

 
$
272,042

Total assets
$
5,925,156

 
$
2,981,933

 
$
1,352,659

 
$
466,162

 
$
(3,561,143
)
 
$
7,164,767

Capital expenditures
$
5,544

 
$
6,510

 
$
1,702

 
$
331

 
$
21,087

 
$
35,174

 
Six months ended June 30, 2018
(in thousands)
Retail
 
National
Programs
 
Wholesale
Brokerage
 
Services
 
Other
 
Total
Total revenues
$
511,719

 
$
230,915

 
$
141,716

 
$
89,933

 
$
365

 
$
974,648

Investment income
$
1

 
$
246

 
$
81

 
$
109

 
$
895

 
$
1,332

Amortization
$
20,744

 
$
12,647

 
$
5,659

 
$
2,274

 
$
—

 
$
41,324

Depreciation
$
2,510

 
$
2,741

 
$
853

 
$
790

 
$
4,257

 
$
11,151

Interest expense
$
13,909

 
$
13,872

 
$
2,806

 
$
1,177

 
$
(12,041
)
 
$
19,723

Income before income taxes
$
114,760

 
$
45,102

 
$
31,930

 
$
16,901

 
$
10,658

 
$
219,351

Total assets
$
4,668,251

 
$
2,844,485

 
$
1,267,207

 
$
419,876

 
$
(3,498,262
)
 
$
5,701,557

Capital expenditures
$
4,361

 
$
4,893

 
$
867

 
$
432

 
$
8,837

 
$
19,390