Arthur J Gallagher & Co
NYSE:AJG
Income Statement
Earnings Waterfall
Arthur J Gallagher & Co
Revenue
|
10.1B
USD
|
Cost of Revenue
|
-5.6B
USD
|
Gross Profit
|
4.5B
USD
|
Operating Expenses
|
-2.7B
USD
|
Operating Income
|
1.8B
USD
|
Other Expenses
|
-829.2m
USD
|
Net Income
|
969.5m
USD
|
Income Statement
Arthur J Gallagher & Co
Dec-2013 | Mar-2014 | Jun-2014 | Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||||||||||||||||||||||||||
Revenue |
3 180
N/A
|
3 421
+8%
|
3 820
+12%
|
4 271
+12%
|
4 627
+8%
|
4 943
+7%
|
5 135
+4%
|
5 303
+3%
|
5 392
+2%
|
5 462
+1%
|
5 517
+1%
|
5 545
+0%
|
5 681
+2%
|
6 027
+6%
|
6 089
+1%
|
6 200
+2%
|
6 249
+1%
|
6 440
+3%
|
6 611
+3%
|
6 796
+3%
|
6 934
+2%
|
7 087
+2%
|
7 084
0%
|
7 131
+1%
|
7 195
+1%
|
7 071
-2%
|
6 998
-1%
|
7 021
+0%
|
7 004
0%
|
7 302
+4%
|
7 651
+5%
|
7 940
+4%
|
8 209
+3%
|
8 480
+3%
|
8 589
+1%
|
8 495
-1%
|
8 551
+1%
|
8 821
+3%
|
9 220
+5%
|
9 668
+5%
|
10 072
+4%
|
|
Gross Profit | ||||||||||||||||||||||||||||||||||||||||||
Cost of Revenue |
(2 122)
|
(2 318)
|
(2 626)
|
(2 957)
|
(3 227)
|
(3 474)
|
(3 595)
|
(3 728)
|
(3 780)
|
(3 822)
|
(3 857)
|
(3 909)
|
(4 078)
|
(4 263)
|
(4 406)
|
(4 496)
|
(4 519)
|
(4 649)
|
(4 752)
|
(4 898)
|
(4 984)
|
(4 995)
|
(4 924)
|
(4 883)
|
(4 831)
|
(4 697)
|
(4 554)
|
(4 497)
|
(4 431)
|
(4 628)
|
(4 869)
|
(5 041)
|
(5 168)
|
(5 156)
|
(5 087)
|
(4 860)
|
(4 762)
|
(4 861)
|
(5 071)
|
(5 323)
|
(5 555)
|
|
Gross Profit |
1 054
N/A
|
1 100
+4%
|
1 194
+9%
|
1 314
+10%
|
1 400
+7%
|
1 469
+5%
|
1 540
+5%
|
1 575
+2%
|
1 612
+2%
|
1 639
+2%
|
1 661
+1%
|
1 636
-2%
|
1 603
-2%
|
1 763
+10%
|
1 683
-5%
|
1 705
+1%
|
1 730
+1%
|
1 791
+4%
|
1 859
+4%
|
1 898
+2%
|
1 950
+3%
|
2 092
+7%
|
2 160
+3%
|
2 248
+4%
|
2 364
+5%
|
2 374
+0%
|
2 444
+3%
|
2 524
+3%
|
2 573
+2%
|
2 674
+4%
|
2 783
+4%
|
2 899
+4%
|
3 042
+5%
|
3 324
+9%
|
3 502
+5%
|
3 635
+4%
|
3 789
+4%
|
3 960
+5%
|
4 150
+5%
|
4 345
+5%
|
4 517
+4%
|
|
Operating Income | ||||||||||||||||||||||||||||||||||||||||||
Operating Expenses |
(733)
|
(761)
|
(829)
|
(925)
|
(1 044)
|
(1 106)
|
(1 156)
|
(1 181)
|
(1 216)
|
(1 218)
|
(1 229)
|
(1 212)
|
(1 159)
|
(1 172)
|
(1 170)
|
(1 207)
|
(1 246)
|
(1 263)
|
(1 279)
|
(1 299)
|
(1 332)
|
(1 386)
|
(1 441)
|
(1 494)
|
(1 558)
|
(1 508)
|
(1 474)
|
(1 436)
|
(1 408)
|
(1 459)
|
(1 512)
|
(1 581)
|
(1 703)
|
(1 804)
|
(1 823)
|
(1 835)
|
(1 870)
|
(2 000)
|
(2 172)
|
(2 304)
|
(2 719)
|
|
Selling, General & Administrative |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(127)
|
0
|
0
|
0
|
(21)
|
0
|
0
|
0
|
(22)
|
0
|
0
|
0
|
(161)
|
|
Depreciation & Amortization |
(179)
|
(191)
|
(208)
|
(236)
|
(259)
|
(282)
|
(305)
|
(314)
|
(334)
|
(342)
|
(348)
|
(355)
|
(351)
|
(361)
|
(367)
|
(379)
|
(386)
|
(391)
|
(400)
|
(406)
|
(419)
|
(431)
|
(442)
|
(455)
|
(474)
|
(536)
|
(544)
|
(559)
|
(562)
|
(533)
|
(556)
|
(553)
|
(566)
|
(583)
|
(578)
|
(592)
|
(600)
|
(599)
|
(635)
|
(661)
|
(697)
|
|
Other Operating Expenses |
(554)
|
(570)
|
(621)
|
(690)
|
(785)
|
(824)
|
(851)
|
(867)
|
(881)
|
(876)
|
(881)
|
(857)
|
(808)
|
(811)
|
(803)
|
(829)
|
(860)
|
(872)
|
(880)
|
(894)
|
(913)
|
(955)
|
(1 000)
|
(1 040)
|
(1 084)
|
(972)
|
(931)
|
(877)
|
(719)
|
(925)
|
(956)
|
(1 028)
|
(1 116)
|
(1 221)
|
(1 245)
|
(1 243)
|
(1 248)
|
(1 401)
|
(1 537)
|
(1 643)
|
(1 861)
|
|
Operating Income |
325
N/A
|
342
+5%
|
366
+7%
|
389
+6%
|
356
-8%
|
363
+2%
|
384
+6%
|
394
+3%
|
397
+1%
|
422
+6%
|
432
+2%
|
424
-2%
|
443
+5%
|
591
+33%
|
512
-13%
|
497
-3%
|
484
-3%
|
528
+9%
|
580
+10%
|
599
+3%
|
618
+3%
|
706
+14%
|
719
+2%
|
754
+5%
|
806
+7%
|
866
+7%
|
969
+12%
|
1 089
+12%
|
1 165
+7%
|
1 215
+4%
|
1 271
+5%
|
1 318
+4%
|
1 339
+2%
|
1 520
+14%
|
1 679
+10%
|
1 801
+7%
|
1 919
+7%
|
1 961
+2%
|
1 978
+1%
|
2 042
+3%
|
1 799
-12%
|
|
Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||
Interest Income Expense |
(50)
|
(55)
|
(64)
|
(77)
|
(89)
|
(98)
|
(103)
|
(103)
|
(103)
|
(103)
|
(104)
|
(107)
|
(110)
|
(114)
|
(118)
|
(121)
|
(124)
|
(126)
|
(128)
|
(133)
|
(138)
|
(147)
|
(158)
|
(168)
|
(180)
|
(203)
|
(213)
|
(212)
|
(197)
|
(196)
|
(198)
|
(210)
|
(227)
|
(239)
|
(246)
|
(253)
|
(288)
|
(261)
|
(274)
|
(283)
|
(307)
|
|
Non-Reccuring Items |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(3)
|
(30)
|
(56)
|
(98)
|
(96)
|
(98)
|
(112)
|
(137)
|
(177)
|
(199)
|
(230)
|
(304)
|
(305)
|
(363)
|
(370)
|
(307)
|
|
Pre-Tax Income |
275
N/A
|
287
+5%
|
301
+5%
|
311
+3%
|
267
-14%
|
265
-1%
|
281
+6%
|
291
+4%
|
294
+1%
|
318
+8%
|
327
+3%
|
317
-3%
|
334
+5%
|
478
+43%
|
394
-17%
|
376
-5%
|
360
-4%
|
403
+12%
|
452
+12%
|
465
+3%
|
479
+3%
|
559
+17%
|
561
+0%
|
585
+4%
|
626
+7%
|
660
+5%
|
727
+10%
|
821
+13%
|
871
+6%
|
923
+6%
|
974
+5%
|
996
+2%
|
975
-2%
|
1 104
+13%
|
1 234
+12%
|
1 318
+7%
|
1 327
+1%
|
1 395
+5%
|
1 340
-4%
|
1 389
+4%
|
1 185
-15%
|
|
Net Income | ||||||||||||||||||||||||||||||||||||||||||
Tax Provision |
(6)
|
(1)
|
5
|
22
|
36
|
34
|
52
|
81
|
96
|
96
|
95
|
96
|
97
|
137
|
143
|
149
|
194
|
201
|
202
|
210
|
205
|
198
|
196
|
183
|
90
|
47
|
14
|
(44)
|
(13)
|
(27)
|
(38)
|
(9)
|
(20)
|
(104)
|
(151)
|
(217)
|
(211)
|
(232)
|
(226)
|
(248)
|
(219)
|
|
Income from Continuing Operations |
269
|
286
|
306
|
333
|
303
|
299
|
333
|
372
|
389
|
415
|
423
|
412
|
430
|
614
|
537
|
525
|
554
|
604
|
654
|
676
|
685
|
757
|
757
|
768
|
716
|
707
|
740
|
778
|
858
|
896
|
936
|
987
|
955
|
1 000
|
1 084
|
1 101
|
1 116
|
1 164
|
1 114
|
1 141
|
966
|
|
Income to Minority Interest |
0
|
(9)
|
(13)
|
(21)
|
0
|
(23)
|
(27)
|
(26)
|
(32)
|
(33)
|
(31)
|
(31)
|
(34)
|
(35)
|
(38)
|
(37)
|
(36)
|
(35)
|
(35)
|
(39)
|
(42)
|
(48)
|
(50)
|
(50)
|
(47)
|
(39)
|
(35)
|
(36)
|
(39)
|
(42)
|
(45)
|
(48)
|
(48)
|
(37)
|
(26)
|
(13)
|
(2)
|
(2)
|
(2)
|
(4)
|
4
|
|
Net Income (Common) |
269
N/A
|
277
+3%
|
293
+6%
|
312
+6%
|
303
-3%
|
276
-9%
|
306
+11%
|
346
+13%
|
357
+3%
|
381
+7%
|
392
+3%
|
382
-3%
|
397
+4%
|
579
+46%
|
499
-14%
|
487
-2%
|
481
-1%
|
526
+9%
|
571
+9%
|
588
+3%
|
634
+8%
|
694
+10%
|
689
-1%
|
688
0%
|
669
-3%
|
681
+2%
|
725
+6%
|
775
+7%
|
819
+6%
|
855
+4%
|
891
+4%
|
940
+5%
|
907
-3%
|
963
+6%
|
1 057
+10%
|
1 088
+3%
|
1 114
+2%
|
1 162
+4%
|
1 112
-4%
|
1 137
+2%
|
970
-15%
|
|
EPS (Diluted) |
2.02
N/A
|
2.04
+1%
|
1.88
-8%
|
1.93
+3%
|
1.97
+2%
|
1.65
-16%
|
1.78
+8%
|
1.95
+10%
|
2.06
+6%
|
2.14
+4%
|
2.2
+3%
|
2.14
-3%
|
2.22
+4%
|
3.2
+44%
|
2.74
-14%
|
2.67
-3%
|
2.64
-1%
|
2.84
+8%
|
3.07
+8%
|
3.14
+2%
|
3.4
+8%
|
3.68
+8%
|
3.63
-1%
|
3.6
-1%
|
3.52
-2%
|
3.52
N/A
|
3.73
+6%
|
3.94
+6%
|
4.2
+7%
|
4.29
+2%
|
4.32
+1%
|
4.44
+3%
|
4.37
-2%
|
4.51
+3%
|
4.95
+10%
|
5.08
+3%
|
5.19
+2%
|
5.35
+3%
|
5.07
-5%
|
5.16
+2%
|
4.42
-14%
|