10-K/APeriod: FY2000

BROWN & BROWN, INC. Annual Report (Amendment), Year Ended Dec 31, 2000

Filed March 27, 2001For Securities:BRO

Summary

This amended 10-K filing for Brown & Brown, Inc. (BRO) for the fiscal year ended December 31, 2000, primarily serves to correct minor typographical errors in the electronic filing of their 2000 Annual Report to Shareholders, which is incorporated by reference. Investors should note that the core financial data and business operations as presented in the original filing remain largely unchanged. The amendment focuses on accuracy in the reporting of financial statements, including net income, shareholder equity, and tax-related figures, as well as details within the business description and supplemental cash flow information. The company's market capitalization as of March 2, 2001, was approximately $769.6 million, with over 29 million shares outstanding. The filing references various agreements, including a significant asset purchase agreement with Riedman Corporation and its shareholders, which likely impacts future growth and integration. Investors should review the incorporated portions of the 2000 Annual Report for a comprehensive understanding of the company's financial performance, strategic initiatives, and risk factors.

Key Highlights

  • 1This filing is an amendment (No. 1) to the original 10-K for the year ended December 31, 2000, primarily for correcting typographical errors in Exhibit 13 (2000 Annual Report to Shareholders).
  • 2The aggregate market value of Brown & Brown's common stock held by non-affiliates was approximately $769.6 million as of March 2, 2001.
  • 3The number of outstanding common shares was 29,181,231 as of March 2, 2001.
  • 4The filing incorporates by reference substantial portions of the company's 2000 Annual Report to Shareholders and its 2001 Proxy Statement.
  • 5Key agreements filed as exhibits include an Asset Purchase Agreement with Riedman Corporation and its shareholders, indicating potential acquisitions or business integrations.
  • 6The company has a revolving and term loan agreement with SunTrust Bank dated January 3, 2001, suggesting ongoing financing arrangements.

Frequently Asked Questions

This filing is an amendment (No. 1) to Brown & Brown's 2000 Form 10-K. Its main purpose is to correct several minor typographical errors that appeared in the electronic version of their 2000 Annual Report to Shareholders (Exhibit 13), ensuring greater accuracy in the publicly available financial information.

The inclusion of an Asset Purchase Agreement with Riedman Corporation and its shareholders, along with related amendments and assignments, suggests a significant business transaction. For investors, this indicates potential strategic growth through acquisition, expansion into new markets or services, and possible integration challenges or synergies that could impact future financial performance.

The detailed financial statements, including Consolidated Statements of Income, Balance Sheets, Shareholders' Equity, and Cash Flows for the year ended December 31, 2000, are incorporated by reference from Brown & Brown's 2000 Annual Report to Shareholders (Exhibit 13) into this Form 10-K/A. Investors should refer to that document for the complete financial picture.

As of March 2, 2001, the aggregate market value of Brown & Brown's common stock held by non-affiliates was approximately $769,561,402. This provides a snapshot of the company's market valuation around the time of the filing.